Portfolio of Investments (Unaudited)
|
|||||
Nuveen North Carolina Premium Income Municipal Fund (NNC)
|
|||||
August 31, 2010
|
|||||
Principal
|
Optional Call
|
||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|
Education and Civic Organizations – 21.7% (14.3% of Total Investments)
|
|||||
$ 2,500
|
North Carolina Capital Facilities Financing Agency, Revenue Bonds, Duke University, Series
|
10/15 at 100.00
|
AA+
|
$ 2,635,650
|
|
2005A, 5.000%, 10/01/41 (UB)
|
|||||
North Carolina Capital Facilities Financing Agency, Revenue Bonds, Johnson and Wales
|
|||||
University, Series 2003A:
|
|||||
970
|
5.250%, 4/01/23 – SYNCORA GTY Insured
|
4/13 at 100.00
|
N/R
|
996,927
|
|
500
|
5.000%, 4/01/33 – SYNCORA GTY Insured
|
4/13 at 100.00
|
N/R
|
500,640
|
|
2,285
|
North Carolina State University at Raleigh, General Revenue Bonds, Series 2003A,
|
10/13 at 100.00
|
Aa1
|
2,563,290
|
|
5.000%, 10/01/15
|
|||||
1,530
|
University of North Carolina System, Pooled Revenue Bonds, Series 2005A, 5.000%, 4/01/15 –
|
No Opt. Call
|
A+
|
1,755,048
|
|
AMBAC Insured
|
|||||
120
|
University of North Carolina System, Pooled Revenue Refunding Bonds, Series 2002A, 5.375%,
|
10/12 at 100.00
|
N/R
|
128,936
|
|
4/01/22 – AMBAC Insured
|
|||||
University of North Carolina Wilmington, Certificates of Participation, Student Housing
|
|||||
Project Revenue Bonds, Series 2006:
|
|||||
1,430
|
5.000%, 6/01/23 – FGIC Insured
|
6/16 at 100.00
|
A
|
1,550,692
|
|
1,505
|
5.000%, 6/01/24 – FGIC Insured
|
6/16 at 100.00
|
A
|
1,618,733
|
|
University of North Carolina, Chapel Hill, System Net Revenue Bonds, Series 2003:
|
|||||
2,380
|
5.000%, 12/01/19
|
12/13 at 100.00
|
Aaa
|
2,596,913
|
|
2,725
|
5.000%, 12/01/21
|
12/13 at 100.00
|
Aaa
|
3,053,853
|
|
1,500
|
5.000%, 12/01/23
|
12/13 at 100.00
|
Aaa
|
1,667,310
|
|
1,675
|
University of North Carolina, Wilmington, General Revenue Bonds, Series 2002A, 5.000%,
|
1/12 at 101.00
|
A1
|
1,794,830
|
|
1/01/23 – AMBAC Insured
|
|||||
19,120
|
Total Education and Civic Organizations
|
20,862,822
|
|||
Energy – 1.6% (1.1% of Total Investments)
|
|||||
1,500
|
Virgin Islands Public Finance Authority, Revenue Bonds, Refinery Project – Hovensa LLC, Series
|
1/14 at 100.00
|
Baa3
|
1,524,870
|
|
2003, 6.125%, 7/01/22 (Alternative Minimum Tax)
|
|||||
Health Care – 22.7% (15.0% of Total Investments)
|
|||||
1,145
|
Albemarle Hospital Authority, North Carolina, Health Care Facilities Revenue Bonds, Series
|
10/17 at 100.00
|
N/R
|
1,081,991
|
|
2007, 5.250%, 10/01/27
|
|||||
2,300
|
Charlotte-Mecklenberg Hospital Authority, North Carolina, Carolinas HealthCare System Revenue
|
1/18 at 100.00
|
AA–
|
2,369,897
|
|
Bonds, Series 2008A, 5.000%, 1/15/47
|
|||||
500
|
Charlotte-Mecklenberg Hospital Authority, North Carolina, Carolinas HealthCare System, Health
|
1/19 at 100.00
|
AA–
|
533,800
|
|
Care Refunding Revenue Bonds, Series 2009A, 5.250%, 1/15/39
|
|||||
1,000
|
Johnston Memorial Hospital Authority, North Carolina, Mortgage Revenue Bonds, Johnston
|
4/18 at 100.00
|
AAA
|
1,058,560
|
|
Memorial Hospital Project, Series 2008, 5.250%, 10/01/36 – AGM Insured
|
|||||
225
|
New Hanover County, North Carolina, Hospital Revenue Bonds, New Hanover Regional Medical
|
10/19 at 100.00
|
AAA
|
240,662
|
|
Center, Series 2006B, 5.125%, 10/01/31 – AGM Insured
|
|||||
920
|
North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, WakeMed, Series
|
10/14 at 100.00
|
AAA
|
964,638
|
|
2009A, 5.625%, 10/01/38 – AGC Insured
|
|||||
2,000
|
North Carolina Medical Care Commission, Healthcare Facilities Revenue Bonds, Novant Health
|
11/13 at 100.00
|
A+
|
2,121,140
|
|
Obligated Group, Series 2003A, 5.000%, 11/01/19
|
|||||
2,000
|
North Carolina Medical Care Commission, Healthcare Facilities Revenue Bonds, Stanly Memorial
|
10/10 at 100.00
|
BBB+
|
2,001,320
|
|
Hospital, Series 1999, 6.375%, 10/01/29
|
|||||
North Carolina Medical Care Commission, Healthcare Facilities Revenue Bonds, Union Regional
|
|||||
Medical Center, Series 2002A:
|
|||||
1,000
|
5.500%, 1/01/19
|
1/12 at 100.00
|
A+
|
1,023,150
|
|
550
|
5.500%, 1/01/20
|
1/12 at 100.00
|
A+
|
561,440
|
|
1,750
|
5.375%, 1/01/32
|
1/12 at 100.00
|
A+
|
1,761,375
|
|
3,000
|
North Carolina Medical Care Commission, Hospital Revenue Bonds, Southeastern Regional Medical
|
6/12 at 101.00
|
A
|
3,020,670
|
|
Center, Series 2002, 5.375%, 6/01/32
|
|||||
1,500
|
North Carolina Medical Care Commission, Hospital Revenue Bonds, Wilson Medical Center, Series
|
11/17 at 100.00
|
A–
|
1,521,540
|
|
2007, 5.000%, 11/01/27
|
|||||
1,395
|
North Carolina Medical Care Commission, Revenue Bonds, Blue Ridge Healthcare System, Series
|
1/15 at 100.00
|
A
|
1,418,799
|
|
2005, 5.000%, 1/01/33 – FGIC Insured
|
|||||
North Carolina Medical Care Commission, Revenue Bonds, Cleveland County Healthcare System,
|
|||||
Series 2004A:
|
|||||
600
|
5.250%, 7/01/20 – AMBAC Insured
|
7/14 at 100.00
|
A
|
628,332
|
|
500
|
5.250%, 7/01/22 – AMBAC Insured
|
7/14 at 100.00
|
A
|
519,995
|
|
300
|
Northern Hospital District of Surry County, North Carolina, Health Care Facilities Revenue
|
4/18 at 100.00
|
BBB
|
312,084
|
|
Bonds, Series 2008, 6.250%, 10/01/38
|
|||||
660
|
Onslow County Hospital Authority, North Carolina, FHA Insured Mortgage Revenue Bonds, Onslow
|
10/16 at 100.00
|
A
|
679,312
|
|
Memorial Hospital Project, Series 2006, 5.000%, 4/01/31 – NPFG Insured
|
|||||
21,345
|
Total Health Care
|
21,818,705
|
|||
Housing/Multifamily – 4.5% (3.0% of Total Investments)
|
|||||
1,000
|
Asheville Housing Authority, North Carolina, GNMA-Collateralized Multifamily Housing Revenue
|
11/10 at 100.00
|
AAA
|
1,000,700
|
|
Bonds, Woodridge Apartments, Series 1997, 5.800%, 11/20/39 (Alternative Minimum Tax)
|
|||||
2,290
|
Mecklenburg County, North Carolina, FNMA Multifamily Housing Revenue Bonds, Little Rock
|
7/13 at 105.00
|
AAA
|
2,390,165
|
|
Apartments, Series 2003, 5.375%, 1/01/36 (Alternative Minimum Tax)
|
|||||
1,000
|
North Carolina Capital Facilities Financing Agency, Housing Revenue Bonds, Elizabeth City
|
6/13 at 100.00
|
N/R
|
975,220
|
|
State University, Series 2003A, 5.000%, 6/01/28 – AMBAC Insured
|
|||||
4,290
|
Total Housing/Multifamily
|
4,366,085
|
|||
Housing/Single Family – 6.1% (4.1% of Total Investments)
|
|||||
945
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement,
|
1/11 at 100.00
|
AA
|
945,416
|
|
Series 10A, 5.400%, 7/01/32 – AMBAC Insured (Alternative Minimum Tax)
|
|||||
2,000
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement,
|
1/11 at 100.00
|
AA
|
2,002,380
|
|
Series 6A, 6.200%, 1/01/29 (Alternative Minimum Tax)
|
|||||
1,000
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Series 2007-29A, 4.800%,
|
1/17 at 100.00
|
AA
|
1,002,100
|
|
7/01/33 (Alternative Minimum Tax)
|
|||||
825
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Series 25-A, 4.900%,
|
7/16 at 100.00
|
AA
|
829,100
|
|
7/01/37 (Alternative Minimum Tax)
|
|||||
1,115
|
North Carolina Housing Finance Agency, Single Family Revenue Bonds, Series 1996HH, 6.300%,
|
9/10 at 100.00
|
AA
|
1,116,505
|
|
3/01/26 (Alternative Minimum Tax)
|
|||||
5,885
|
Total Housing/Single Family
|
5,895,501
|
|||
Long-Term Care – 0.4% (0.3% of Total Investments)
|
|||||
375
|
North Carolina Medical Care Commission, Revenue Bonds, Pines at Davidson, Series 2006A,
|
1/16 at 100.00
|
N/R
|
367,583
|
|
5.000%, 1/01/36
|
|||||
Materials – 0.5% (0.3% of Total Investments)
|
|||||
500
|
Columbus County Industrial Facilities and Pollution Control Financing Authority, North
|
3/17 at 100.00
|
BBB
|
459,055
|
|
Carolina, Environmental Improvement Revenue Bonds, International Paper Company Project,
|
|||||
Series 2007A, 4.625%, 3/01/27
|
|||||
Tax Obligation/General – 11.4% (7.5% of Total Investments)
|
|||||
1,890
|
Craven County, North Carolina, General Obligation Bonds, Series 2002, 5.000%, 5/01/21 –
|
5/12 at 101.00
|
AA
|
2,056,433
|
|
AMBAC Insured
|
|||||
4,285
|
Durham County, North Carolina, General Obligation Bonds, Series 2002B, 5.000%, 4/01/16
|
4/12 at 100.00
|
AAA
|
4,606,075
|
|
1,820
|
Durham, North Carolina, General Obligation Bonds, Series 2007, 5.000%, 4/01/21
|
4/17 at 100.00
|
AAA
|
2,123,176
|
|
2,000
|
Wake County, North Carolina, Limited Obligation Bonds, Series 2010, 5.000%, 1/01/37
|
1/20 at 100.00
|
AA+
|
2,181,260
|
|
9,995
|
Total Tax Obligation/General
|
10,966,944
|
|||
Tax Obligation/Limited – 39.1% (25.8% of Total Investments)
|
|||||
1,330
|
Cabarrus County, North Carolina, Certificates of Participation, Series 2002, 5.250%, 2/01/17
|
2/13 at 100.00
|
AA
|
1,438,249
|
|
1,800
|
Catawba County, North Carolina, Certificates of Participation, Series 2004, 5.250%, 6/01/21 –
|
6/14 at 100.00
|
Aa2
|
1,939,968
|
|
NPFG Insured
|
|||||
1,700
|
Charlotte, North Carolina, Certificates of Participation, Governmental Facilities Projects,
|
6/13 at 100.00
|
AA+
|
1,807,355
|
|
Series 2003G, 5.375%, 6/01/26
|
|||||
1,400
|
Charlotte, North Carolina, Certificates of Participation, Nascar Hall of Fame, Series 2009C,
|
6/19 at 100.00
|
AA+
|
1,499,750
|
|
5.000%, 6/01/39
|
|||||
950
|
Charlotte, North Carolina, Certificates of Participation, Transit Projects Phase 2, Series
|
6/18 at 100.00
|
AA+
|
1,018,277
|
|
2008A, 5.000%, 6/01/33
|
|||||
1,500
|
Charlotte, North Carolina, Certificates of Participation, Transit Projects, Series 2003A,
|
6/13 at 100.00
|
AA+
|
1,550,265
|
|
5.000%, 6/01/33
|
|||||
Charlotte, North Carolina, Storm Water Fee Revenue Bonds, Series 2002:
|
|||||
1,050
|
5.250%, 6/01/20
|
6/12 at 101.00
|
AAA
|
1,142,211
|
|
1,750
|
5.000%, 6/01/25
|
6/12 at 101.00
|
AAA
|
1,889,353
|
|
1,400
|
Craven County, North Carolina, Certificates of Participation, Series 2007, 5.000%, 6/01/27 –
|
6/17 at 100.00
|
AA–
|
1,512,098
|
|
NPFG Insured
|
|||||
1,000
|
Davidson County, North Carolina, Certificates of Participation, Series 2004, 5.250%, 6/01/14 –
|
No Opt. Call
|
Aa3
|
1,140,700
|
|
AMBAC Insured
|
|||||
750
|
Harnett County, North Carolina, Certificates of Participation, Series 2009, 5.000%, 6/01/28 –
|
6/19 at 100.00
|
AAA
|
824,333
|
|
AGC Insured
|
|||||
Lee County, North Carolina, Certificates of Participation, Public Schools and Community
|
|||||
College, Series 2004:
|
|||||
1,715
|
5.250%, 4/01/18 – AGM Insured
|
4/14 at 100.00
|
AAA
|
1,896,001
|
|
500
|
5.250%, 4/01/20 – AGM Insured
|
4/14 at 100.00
|
AAA
|
544,685
|
|
1,000
|
5.250%, 4/01/22 – AGM Insured
|
4/14 at 100.00
|
AAA
|
1,079,410
|
|
200
|
Mecklenburg County, North Carolina, Certificates of Participation, Series 2009A,
|
No Opt. Call
|
AA+
|
221,932
|
|
5.000%, 2/01/27
|
|||||
2,600
|
North Carolina Infrastructure Finance Corporation, Certificates of Participation, Capital
|
2/15 at 100.00
|
AA+
|
2,933,970
|
|
Improvements, Series 2005A, 5.000%, 2/01/19
|
|||||
1,500
|
North Carolina Infrastructure Finance Corporation, Certificates of Participation, Correctional
|
2/14 at 100.00
|
AA+
|
1,665,720
|
|
Facilities, Series 2004A, 5.000%, 2/01/23
|
|||||
1,500
|
North Carolina, Certificates of Participation, Repair and Renovation Project, Series 2004B,
|
6/14 at 100.00
|
AA+
|
1,633,380
|
|
5.000%, 6/01/20
|
|||||
North Carolina, Certificates of Participation, Series 2003:
|
|||||
1,130
|
5.250%, 6/01/21
|
6/13 at 100.00
|
AA+
|
1,240,469
|
|
1,000
|
5.250%, 6/01/23
|
6/13 at 100.00
|
AA+
|
1,089,010
|
|
2,000
|
Puerto Rico Highway and Transportation Authority, Grant Anticipation Revenue Bonds, Series
|
3/14 at 100.00
|
A+
|
2,056,120
|
|
2004, 5.000%, 9/15/21 – NPFG Insured
|
|||||
3,675
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series
|
No Opt. Call
|
A+
|
826,287
|
|
2010A, 0.000%, 8/01/35
|
|||||
285
|
Raleigh, North Carolina, Certificates of Participation, Series 2007, 5.000%, 2/01/27
|
2/17 at 100.00
|
AA+
|
311,511
|
|
1,000
|
Randolph County, North Carolina, Certificates of Participation, Series 2004, 5.000%, 6/01/20 –
|
6/14 at 102.00
|
AAA
|
1,098,040
|
|
AGM Insured
|
|||||
1,000
|
Rutherford County, North Carolina, Certificates of Participation, Series 2007, 5.000%,
|
12/17 at 100.00
|
AAA
|
1,094,260
|
|
12/01/27 – AGM Insured
|
|||||
1,950
|
Sampson County, North Carolina, Certificates of Participation, Series 2006, 5.000%, 6/01/34 –
|
6/17 at 100.00
|
AAA
|
2,053,038
|
|
AGM Insured (UB)
|
|||||
1,200
|
Wilmington, North Carolina, Certificates of Participation, Series 2008A, 5.000%, 6/01/29
|
6/18 at 100.00
|
AA
|
1,314,787
|
|
700
|
Wilson County, North Carolina, Certificates of Participation, School Facilities Project,
|
4/17 at 100.00
|
Aa3
|
750,603
|
|
Series 2007, 5.000%, 4/01/25 – AMBAC Insured
|
|||||
37,585
|
Total Tax Obligation/Limited
|
37,571,782
|
|||
Transportation – 14.0% (9.3% of Total Investments)
|
|||||
2,500
|
Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International Refunding
|
7/20 at 100.00
|
A+
|
2,622,625
|
|
Series 2010A, 5.000%, 7/01/39
|
|||||
Charlotte, North Carolina, Airport Revenue Bonds, Series 2004A:
|
|||||
600
|
5.250%, 7/01/24 – NPFG Insured
|
7/14 at 100.00
|
A+
|
647,160
|
|
2,710
|
5.000%, 7/01/29 – NPFG Insured
|
7/14 at 100.00
|
A+
|
2,805,284
|
|
1,020
|
North Carolina State Ports Authority, Port Facilities Revenue Bonds, Senior Lien Series 2010A,
|
2/20 at 100.00
|
A3
|
1,068,103
|
|
5.250%, 2/01/40
|
|||||
600
|
North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Series 2009A,
|
1/19 at 100.00
|
AAA
|
659,250
|
|
5.750%, 1/01/39 – AGC Insured
|
|||||
4,230
|
North Carolina Turnpike Authority, Triangle Expressway System Senior Lien Revenue Bonds,
|
No Opt. Call
|
AAA
|
1,315,149
|
|
Series 2009B, 0.000%, 1/01/33 – AGC Insured
|
|||||
500
|
Piedmont Triad Airport Authority, North Carolina, Airport Revenue Bonds, Series 2005A, 5.000%,
|
7/15 at 100.00
|
A2
|
546,780
|
|
7/01/20 – SYNCORA GTY Insured
|
|||||
1,375
|
Raleigh Durham Airport Authority, North Carolina, Airport Revenue Bonds, Refunding Series
|
No Opt. Call
|
Aa3
|
1,483,116
|
|
2010A, 5.000%, 5/01/36 (WI/DD, Settling 9/02/10)
|
|||||
2,250
|
Raleigh Durham Airport Authority, North Carolina, Airport Revenue Bonds, Series 2001A, 5.250%,
|
5/11 at 101.00
|
Aa3
|
2,347,695
|
|
11/01/16 – FGIC Insured
|
|||||
15,785
|
Total Transportation
|
13,495,162
|
|||
U.S. Guaranteed – 9.7% (6.4% of Total Investments) (4)
|
|||||
1,530
|
North Carolina Medical Care Commission, Health System Revenue Bonds, Mission St. Joseph’s
|
10/11 at 101.00
|
AA (4)
|
1,629,098
|
|
Health System, Series 2001, 5.250%, 10/01/31 (Pre-refunded 10/01/11)
|
|||||
735
|
North Carolina Medical Care Commission, Revenue Bonds, Northeast Medical Center, Series 2004,
|
11/14 at 100.00
|
Aa3 (4)
|
860,722
|
|
5.000%, 11/01/24 (Pre-refunded 11/01/14)
|
|||||
4,260
|
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 1986, 5.000%,
|
No Opt. Call
|
AAA
|
5,027,993
|
|
1/01/20 (ETM)
|
|||||
University of North Carolina System, Pooled Revenue Refunding Bonds, Series 2002A:
|
|||||
420
|
5.375%, 4/01/22 (Pre-refunded 10/01/12) – AMBAC Insured
|
10/12 at 100.00
|
N/R (4)
|
463,537
|
|
460
|
5.375%, 4/01/22 (Pre-refunded 10/01/12) – AMBAC Insured
|
10/12 at 100.00
|
N/R (4)
|
506,975
|
|
800
|
Winston-Salem, North Carolina, Water and Sewerage System Revenue Bonds, Series 2002A, 5.000%,
|
6/12 at 100.00
|
AAA
|
864,808
|
|
6/01/18 (Pre-refunded 6/01/12)
|
|||||
8,205
|
Total U.S. Guaranteed
|
9,353,133
|
|||
Utilities – 9.0% (5.9% of Total Investments)
|
|||||
25
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2003C,
|
1/13 at 100.00
|
A–
|
27,219
|
|
5.375%, 1/01/17
|
|||||
3,000
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2003F,
|
1/13 at 100.00
|
A–
|
3,283,500
|
|
5.500%, 1/01/15
|
|||||
1,000
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2005,
|
1/16 at 100.00
|
A–
|
1,103,350
|
|
5.250%, 1/01/20 – AMBAC Insured
|
|||||
North Carolina Eastern Municipal Power Agency, Power System Revenue Refunding Bonds,
|
|||||
Series 1993B:
|
|||||
15
|
5.500%, 1/01/17 – FGIC Insured
|
1/11 at 100.00
|
Baa1
|
15,036
|
|
105
|
5.500%, 1/01/21
|
1/11 at 100.00
|
A–
|
105,183
|
|
165
|
6.000%, 1/01/22 – FGIC Insured
|
No Opt. Call
|
Baa1
|
204,008
|
|
575
|
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series
|
1/19 at 100.00
|
A
|
612,858
|
|
2009A, 5.000%, 1/01/30
|
|||||
2,000
|
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 2003A, 5.250%,
|
1/13 at 100.00
|
A
|
2,177,560
|
|
1/01/15 – AMBAC Insured
|
|||||
1,000
|
Wake County Industrial Facilities and Pollution Control Financing Authority, North Carolina,
|
2/12 at 101.00
|
A1
|
1,068,220
|
|
Revenue Refunding Bonds, Carolina Power and Light Company, Series 2002, 5.375%, 2/01/17
|
|||||
7,885
|
Total Utilities
|
8,596,934
|
|||
Water and Sewer – 10.5% (7.0% of Total Investments)
|
|||||
1,605
|
Broad River Water Authority, North Carolina, Water System Revenue Bonds, Series 2005, 5.000%,
|
6/15 at 100.00
|
A2
|
1,690,242
|
|
6/01/20 – SYNCORA GTY Insured
|
|||||
500
|
Brunswick County, North Carolina, Enterprise System Revenue Bonds, Series 2008A, 5.000%,
|
4/18 at 100.00
|
AAA
|
538,000
|
|
4/01/31 – AGM Insured
|
|||||
50
|
Charlotte, North Carolina, Water and Sewerage System Revenue Bonds, Series 2001,
|
6/11 at 101.00
|
AAA
|
51,963
|
|
5.125%, 6/01/26
|
|||||
1,295
|
Greensboro, North Carolina, Combined Enterprise System Revenue Bonds, Series 2005A,
|
6/15 at 100.00
|
AAA
|
1,412,703
|
|
5.000%, 6/01/26
|
|||||
Oak Island, North Carolina, Enterprise System Revenue Bonds, Series 2009A:
|
|||||
550
|
6.000%, 6/01/34 – AGC Insured
|
6/19 at 100.00
|
AAA
|
614,988
|
|
1,000
|
6.000%, 6/01/36 – AGC Insured
|
6/19 at 100.00
|
AAA
|
1,116,620
|
|
500
|
Onslow County, North Carolina, Combined Enterprise System Revenue Bonds, Series 2004B, 5.000%,
|
6/14 at 100.00
|
A
|
550,625
|
|
6/01/23 – SYNCORA GTY Insured
|
|||||
3,865
|
Winston-Salem, North Carolina, Water and Sewer System Revenue Bonds, Series 2007A, 5.000%,
|
6/17 at 100.00
|
AAA
|
4,154,102
|
|
6/01/37 (UB)
|
|||||
9,365
|
Total Water and Sewer
|
10,129,243
|
|||
$ 141,835
|
Total Investments (cost $137,462,723) – 151.2%
|
145,407,819
|
|||
Floating Rate Obligations – (5.4)%
|
(5,195,000)
|
||||
MuniFund Term Preferred Shares, at Liquidation Value – (25.3)% (5)
|
(24,300,000)
|
||||
Other Assets Less Liabilities – 1.9%
|
1,788,067
|
||||
Auction Rate Preferred Shares, at Liquidation Value – (22.4)%
|
(21,550,000)
|
||||
Net Assets Applicable to Common Shares – 100%
|
$ 96,150,886
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Investments:
|
||||
Municipal Bonds
|
$ —
|
$145,407,819
|
$ —
|
$145,407,819
|
Gross unrealized:
|
|
Appreciation
|
$8,070,438
|
Depreciation
|
(130,509)
|
Net unrealized appreciation (depreciation) of investments
|
$7,939,929
|
(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. 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. Such investments are normally considered to
|
|
be equivalent to AAA rated securities.
|
|
(5)
|
MuniFund Term Preferred Shares and Auction Rate Preferred Shares, at Liquidation Value as a percentage
|
of Total Investments is 16.7% and 14.8%, respectively.
|
|
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.
|