Portfolio of Investments (Unaudited)
|
|||||
Nuveen Virginia Premium Income Municipal Fund (NPV)
|
|||||
August 31, 2014
|
|||||
Principal
|
Optional Call
|
||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|
LONG-TERM INVESTMENTS – 149.6% (100.0% of Total Investments)
|
|||||
MUNICIPAL BONDS – 149.6% (100.0% of Total Investments)
|
|||||
Consumer Staples – 4.7% (3.2% of Total Investments)
|
|||||
Guam Economic Development & Commerce Authority, Tobacco Settlement Asset-Backed Bonds,
|
|||||
Series 2007A:
|
|||||
$ 795
|
5.250%, 6/01/32
|
6/17 at 100.00
|
B
|
$ 679,192
|
|
700
|
5.625%, 6/01/47
|
6/17 at 100.00
|
B
|
532,525
|
|
73,500
|
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Bonds, Series 2005A,
|
5/15 at 11.19
|
BB–
|
4,979,625
|
|
0.000%, 5/15/50
|
|||||
325
|
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds,
|
11/14 at 100.00
|
BBB
|
285,656
|
|
Series 2002, 5.500%, 5/15/39
|
|||||
6,425
|
Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset Backed Bonds,
|
6/17 at 100.00
|
B–
|
4,353,773
|
|
Series 2007B1, 5.000%, 6/01/47
|
|||||
2,145
|
Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset-Backed Bonds,
|
6/17 at 100.00
|
B–
|
1,525,932
|
|
Series 2007B2, 5.200%, 6/01/46
|
|||||
83,890
|
Total Consumer Staples
|
12,356,703
|
|||
Education and Civic Organizations – 9.1% (6.1% of Total Investments)
|
|||||
1,615
|
Alexandria Industrial Development Authority, Virginia, Educational Facilities Revenue Bonds,
|
No Opt. Call
|
A1
|
1,646,428
|
|
Episcopal High School, Series 2012, 3.750%, 1/01/30
|
|||||
580
|
Amherst Industrial Development Authority, Virginia, Revenue Bonds, Sweet Briar College, Series
|
9/16 at 100.00
|
BBB
|
598,641
|
|
2006, 5.000%, 9/01/26
|
|||||
1,000
|
Lexington Industrial Development Authority, Virginia, Educational Facilities Revenue Bonds,
|
6/19 at 100.00
|
Aa2
|
1,124,550
|
|
VMI Development Board Project, Series 2006C, 5.000%, 12/01/36
|
|||||
1,630
|
Prince William County Industrial Development Authority, Virginia, Student Housing Revenue
|
9/21 at 100.00
|
A
|
1,807,295
|
|
Bonds, George Mason University Foundation Prince William Housing LLC Project, Series 2011A,
|
|||||
5.125%, 9/01/41
|
|||||
1,720
|
Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities
|
11/14 at 100.00
|
BBB–
|
1,682,831
|
|
Financing Authority, Higher Education Revenue Refunding Bonds, Ana G. Mendez University
|
|||||
System, Series 2002, 5.375%, 12/01/21
|
|||||
995
|
The Rector and Visitors of the University of Virginia, General Revenue Bonds, Series 2005,
|
6/15 at 100.00
|
AAA
|
1,026,412
|
|
5.000%, 6/01/37
|
|||||
6,600
|
The Rector and Visitors of the University of Virginia, General Revenue Bonds, Series 2008,
|
6/18 at 100.00
|
AAA
|
7,345,932
|
|
5.000%, 6/01/40
|
|||||
3,570
|
Virginia College Building Authority, Educational Facilities Revenue Bonds, Public Higher
|
No Opt. Call
|
Aa1
|
4,034,921
|
|
Education Financing Program, Series 2009A, 5.000%, 9/01/28
|
|||||
3,000
|
Virginia College Building Authority, Educational Facilities Revenue Bonds, Washington and Lee
|
No Opt. Call
|
AA
|
3,476,490
|
|
University, Series 2001, 5.375%, 1/01/21
|
|||||
500
|
Virginia College Building Authority, Educational Facilities Revenue Refunding Bonds, Marymount
|
1/15 at 100.00
|
N/R
|
501,370
|
|
University, Series 1998, 5.100%, 7/01/18 – RAAI Insured
|
|||||
500
|
Virginia Small Business Finance Authority, Educational Facilities Revenue Bonds, Roanoke
|
4/20 at 100.00
|
A–
|
558,930
|
|
College, Series 2011, 5.750%, 4/01/41
|
|||||
21,710
|
Total Education and Civic Organizations
|
23,803,800
|
|||
Health Care – 28.4% (19.0% of Total Investments)
|
|||||
5,000
|
Arlington County Industrial Development Authority, Virginia, Hospital Revenue Bonds, Virginia
|
7/20 at 100.00
|
AA–
|
5,578,550
|
|
Hospital Center Arlington Health System, Refunding Series 2010, 5.000%, 7/01/31
|
|||||
Charlotte County Industrial Development Authority, Virginia, Hospital Revenue Bonds, Halifax
|
|||||
Regional Hospital Incorporated, Series 2007:
|
|||||
1,545
|
5.000%, 9/01/27
|
9/17 at 100.00
|
A
|
1,651,466
|
|
250
|
5.000%, 9/01/37
|
9/17 at 100.00
|
A
|
265,710
|
|
2,145
|
Chesterfield County Economic Development Authority, Virginia, Revenue Bonds, Bon Secours
|
11/20 at 100.00
|
AA
|
2,317,179
|
|
Health, Series 2010C-2, 5.000%, 11/01/42 – AGC Insured
|
|||||
3,375
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives,
|
1/23 at 100.00
|
A+
|
3,744,698
|
|
Series 2013A, 5.250%, 1/01/40
|
|||||
1,000
|
Fairfax County Industrial Development Authority, Virginia, Healthcare Revenue Bonds, Inova
|
5/22 at 100.00
|
AA+
|
1,117,380
|
|
Health System, Series 2012A, 5.000%, 5/15/40
|
|||||
3,340
|
Fairfax County Industrial Development Authority, Virginia, Healthcare Revenue Bonds, Inova
|
5/19 at 100.00
|
AA+
|
4,572,794
|
|
Health System, Tender Option Bond Trust 11733, 14.936%, 11/15/29 (IF)
|
|||||
4,950
|
Fairfax County Industrial Development Authority, Virginia, Hospital Revenue Refunding Bonds,
|
No Opt. Call
|
AA+
|
5,862,434
|
|
Inova Health System, Series 1993A, 5.000%, 8/15/23
|
|||||
Fredericksburg Economic Development Authority, Virginia, Hospital Facilities Revenue Bonds,
|
|||||
MediCorp Health System, Series 2007:
|
|||||
1,080
|
5.250%, 6/15/18
|
No Opt. Call
|
Baa1
|
1,203,023
|
|
2,500
|
5.250%, 6/15/23
|
No Opt. Call
|
Baa1
|
2,848,925
|
|
560
|
Hanover County Industrial Development Authority, Virginia, Hospital Revenue Bonds, Memorial
|
No Opt. Call
|
AA–
|
611,094
|
|
Regional Medical Center, Series 1995, 6.375%, 8/15/18 – NPFG Insured
|
|||||
9,265
|
Harrisonburg Industrial Development Authority, Virginia, Hospital Facilities Revenue Bonds,
|
8/16 at 100.00
|
AA
|
9,646,718
|
|
Rockingham Memorial Hospital, Series 2006, 5.000%, 8/15/31 – AMBAC Insured
|
|||||
1,500
|
Henrico County Industrial Development Authority, Virginia, Healthcare Revenue Bonds, Bon
|
No Opt. Call
|
AA–
|
1,710,225
|
|
Secours Health System, Series 1996, 6.250%, 8/15/20 – NPFG Insured
|
|||||
3,155
|
Prince William County Industrial Development Authority, Virginia, Health Care Facilities Revenue
|
11/22 at 100.00
|
AA–
|
3,432,545
|
|
Refunding Bonds, Novant Health Obligated Group-Prince William Hospital, Series 2013B,
|
|||||
5.000%, 11/01/46
|
|||||
Stafford County Economic Development Authority, Virginia, Hospital Facilities Revenue Bonds,
|
|||||
MediCorp Health System, Series 2006:
|
|||||
2,000
|
5.250%, 6/15/25
|
6/16 at 100.00
|
Baa1
|
2,059,640
|
|
2,000
|
5.250%, 6/15/26
|
6/16 at 100.00
|
Baa1
|
2,054,180
|
|
2,025
|
5.250%, 6/15/31
|
6/16 at 100.00
|
Baa1
|
2,067,586
|
|
7,395
|
5.250%, 6/15/37
|
6/16 at 100.00
|
Baa1
|
7,522,268
|
|
2,550
|
Virginia Small Business Finance Authority, Healthcare Facilities Revenue Bonds, Sentara
|
5/20 at 100.00
|
AA
|
2,767,668
|
|
Healthcare, Refunding Series 2010, 5.000%, 11/01/40
|
|||||
4,425
|
Virginia Small Business Financing Authority, Wellmont Health System Project Revenue Bonds,
|
9/17 at 100.00
|
BBB+
|
4,613,284
|
|
Series 2007A, 5.250%, 9/01/37
|
|||||
2,335
|
Winchester Economic Development Authority, Virginia, Hospital Revenue Bonds, Valley Health
|
1/24 at 100.00
|
A+
|
2,582,463
|
|
System Obligated Group, Refunding Series 2014A, 5.000%, 1/01/44 (WI/DD, Settling 10/07/14)
|
|||||
1,620
|
Winchester Industrial Development Authority, Virginia, Hospital Revenue Bonds Valley Health
|
1/19 at 100.00
|
A+
|
1,778,582
|
|
System Obligated Group, Series 2009E, 5.625%, 1/01/44
|
|||||
2,855
|
Winchester Industrial Development Authority, Virginia, Hospital Revenue Bonds, Winchester
|
1/17 at 100.00
|
A+
|
2,989,271
|
|
Medical Center, Series 2007, 5.125%, 1/01/31
|
|||||
1,020
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care,
|
4/20 at 100.00
|
A
|
1,114,013
|
|
Inc., Series 2010A, 5.625%, 4/15/39
|
|||||
67,890
|
Total Health Care
|
74,111,696
|
|||
Housing/Multifamily – 1.3% (0.9% of Total Investments)
|
|||||
925
|
Arlington County Industrial Development Authority, Virginia, Multifamily Housing Mortgage
|
12/14 at 100.00
|
AA
|
927,525
|
|
Revenue Bonds, Arlington View Terrace Apartments, Series 2001, 5.150%, 11/01/31 (Mandatory
|
|||||
put 11/01/19) (Alternative Minimum Tax)
|
|||||
400
|
Virginia Housing Development Authority, Rental Housing Bonds, Series 2010A, 5.000%, 4/01/45
|
10/19 at 100.00
|
AA+
|
424,000
|
|
530
|
Virginia Housing Development Authority, Rental Housing Bonds, Series 2010C, 4.550%, 8/01/32
|
2/20 at 100.00
|
AA+
|
563,581
|
|
1,425
|
Waynesboro Redevelopment and Housing Authority, Virginia, Multifamily Housing Revenue Bonds,
|
4/20 at 100.00
|
AA+
|
1,515,131
|
|
Epworth Manor, GNMA Collateralized Series 2010, 5.000%, 10/20/51
|
|||||
3,280
|
Total Housing/Multifamily
|
3,430,237
|
|||
Housing/Single Family – 6.7% (4.5% of Total Investments)
|
|||||
2,740
|
Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2006, 4.800%,
|
7/15 at 100.00
|
AAA
|
2,768,496
|
|
7/01/29 (Alternative Minimum Tax)
|
|||||
7,900
|
Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2007B, 4.750%,
|
7/16 at 100.00
|
AAA
|
8,040,146
|
|
7/01/32 (Alternative Minimum Tax)
|
|||||
Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2012C-5:
|
|||||
2,500
|
4.550%, 7/01/31
|
10/22 at 100.00
|
AAA
|
2,736,000
|
|
2,000
|
4.800%, 7/01/38
|
10/22 at 100.00
|
AAA
|
2,185,420
|
|
Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2012C-8:
|
|||||
715
|
4.400%, 10/01/31
|
10/22 at 100.00
|
AAA
|
771,735
|
|
1,000
|
4.750%, 10/01/38
|
10/22 at 100.00
|
AAA
|
1,085,530
|
|
16,855
|
Total Housing/Single Family
|
17,587,327
|
|||
Long-Term Care – 9.1% (6.1% of Total Investments)
|
|||||
2,000
|
Albemarle County Industrial Development Authority, Virginia, Residential Care Facilities
|
1/17 at 100.00
|
N/R
|
2,025,400
|
|
Mortgage Revenue Bonds, Westminster-Canterbury of the Blue Ridge, Series 2007, 5.000%, 1/01/31
|
|||||
1,000
|
Chesterfield County Health Center Commission, Virginia, Mortgage Revenue Bonds, Lucy Corr
|
12/15 at 100.00
|
N/R
|
712,050
|
|
Village, Series 2005, 5.625%, 12/01/39
|
|||||
5,585
|
Fairfax County Economic Development Authority, Virginia, Residential Care Facilities Mortgage
|
10/17 at 100.00
|
BBB
|
5,791,980
|
|
Revenue Bonds, Goodwin House, Inc., Series 2007A, 5.125%, 10/01/37
|
|||||
Fairfax County Economic Development Authority, Virginia, Retirement Center Revenue Bonds,
|
|||||
Greenspring Village, Series 2006A:
|
|||||
1,000
|
4.750%, 10/01/26
|
10/16 at 100.00
|
A
|
1,029,880
|
|
800
|
4.875%, 10/01/36
|
10/16 at 100.00
|
A
|
818,704
|
|
4,740
|
Henrico County Economic Development Authority, Virginia, Residential Care Facility Revenue
|
11/14 at 100.00
|
BBB+
|
4,838,450
|
|
Bonds, Westminster Canterbury of Richmond, Series 2006, 5.000%, 10/01/35
|
|||||
3,590
|
Industrial Development Authority of the County of Prince William, Virginia, Residential Care
|
1/17 at 100.00
|
N/R
|
3,462,591
|
|
Facility Revenue Bonds, Westminster at Lake, First Mortgage, Series 2006, 5.125%, 1/01/26
|
|||||
1,000
|
Roanoke Economic Development Authority, Virginia, Residential Care Facility Mortgage Revenue
|
12/22 at 100.00
|
N/R
|
980,030
|
|
Refunding Bonds, Virginia Lutheran Homes Brandon Oaks Project, Series 2012, 4.625%, 12/01/27
|
|||||
1,500
|
Roanoke Industrial Development Authority, Virginia, Residential Revenue Bonds, Virginia
|
12/16 at 100.00
|
N/R
|
1,437,630
|
|
Lutheran Homes Incorporated, Series 2006, 5.000%, 12/01/39
|
|||||
1,000
|
Suffolk Industrial Development Authority, Virginia, Retirement Facilities First Mortgage
|
9/16 at 100.00
|
N/R
|
1,006,410
|
|
Revenue Bonds, Lake Prince Center, Series 2006, 5.300%, 9/01/31
|
|||||
1,000
|
Virginia Beach Development Authority, Virginia, Residential Care Facility Mortgage Revenue
|
11/15 at 100.00
|
N/R
|
1,013,120
|
|
Bonds, Westminster Canterbury on Chesapeake Bay, Series 2005, 5.000%, 11/01/22
|
|||||
500
|
Winchester Industrial Development Authority, Virginia, Residential Care Facility Revenue
|
1/15 at 100.00
|
BBB+
|
502,185
|
|
Bonds, Westminster-Canterbury of Winchester Inc., Series 2005A, 5.200%, 1/01/27
|
|||||
23,715
|
Total Long-Term Care
|
23,618,430
|
|||
Tax Obligation/General – 12.7% (8.5% of Total Investments)
|
|||||
1,440
|
Bristol, Virginia, General Obligation Bonds, Refunding & Improvement Series 2010, 5.000%, 7/15/25
|
7/20 at 100.00
|
A1
|
1,717,344
|
|
1,000
|
Chesterfield County, Virginia, General Obligation Bonds, Public Improvement Series 2009A,
|
No Opt. Call
|
AAA
|
1,064,220
|
|
5.000%, 1/01/16
|
|||||
5,350
|
Chesterfield County, Virginia, General Obligation Bonds, Refunding Public Improvement Series
|
No Opt. Call
|
AAA
|
5,622,048
|
|
2014B, 4.000%, 1/01/16
|
|||||
1,070
|
Norfolk, Virginia, General Obligation Bonds, Series 2005, 5.000%, 3/01/15 – NPFG Insured
|
No Opt. Call
|
AA+
|
1,096,557
|
|
6,050
|
Portsmouth, Virginia, General Obligation Bonds, Refunding Series 2010D, 5.000%, 7/15/34
|
7/20 at 100.00
|
AA
|
6,900,630
|
|
1,280
|
Portsmouth, Virginia, General Obligation Bonds, Series 2005A, 5.000%, 4/01/15 – NPFG Insured
|
No Opt. Call
|
AA
|
1,316,992
|
|
610
|
Puerto Rico, General Obligation and Public Improvement Bonds, Series 1998, 6.000%, 7/01/15 –
|
No Opt. Call
|
AA–
|
611,275
|
|
NPFG Insured
|
|||||
560
|
Puerto Rico, General Obligation Bonds, Series 2004A, 5.000%, 7/01/15 – AGM Insured
|
11/14 at 100.00
|
AA
|
561,232
|
|
1,000
|
Richmond, Virginia, General Obligation Bonds, Public Improvement Series 2009A, 5.000%, 7/15/22
|
7/19 at 100.00
|
AA+
|
1,179,580
|
|
1,295
|
Richmond, Virginia, General Obligation Bonds, Refunding & Improvement Series 2012B,
|
No Opt. Call
|
AA+
|
1,350,802
|
|
5.000%, 7/15/15
|
|||||
1,535
|
Suffolk, Virginia, General Obligation Bonds, Series 2005, 5.000%, 12/01/15
|
No Opt. Call
|
AAA
|
1,628,773
|
|
Virginia Beach, Virginia, General Obligation Bonds, Series 2008:
|
|||||
4,500
|
5.000%, 10/01/26 (UB)
|
10/17 at 100.00
|
AAA
|
5,026,185
|
|
4,500
|
5.000%, 10/01/27 (UB)
|
10/17 at 100.00
|
AAA
|
4,982,715
|
|
30,190
|
Total Tax Obligation/General
|
33,058,353
|
|||
Tax Obligation/Limited – 22.9% (15.3% of Total Investments)
|
|||||
Buena Vista Public Recreational Facilities Authority, Virginia, Lease Revenue Bonds, Golf
|
|||||
Course Project, Series 2005A:
|
|||||
595
|
5.250%, 7/15/25 – ACA Insured
|
7/15 at 100.00
|
N/R
|
512,497
|
|
520
|
5.500%, 7/15/35 – ACA Insured
|
7/15 at 100.00
|
N/R
|
411,003
|
|
880
|
Cumberland County, Virginia, Certificates of Participation, Series 1997, 6.375%, 7/15/17
|
No Opt. Call
|
N/R
|
957,035
|
|
600
|
Dulles Town Center Community Development Authority, Loudon County, Virginia Special Assessment
|
No Opt. Call
|
N/R
|
590,874
|
|
Refunding Bonds, Dulles Town Center Project, Series 2012, 4.250%, 3/01/26
|
|||||
4,000
|
Fairfax County Economic Development Authority, Virginia, Transportation District Improvement
|
No Opt. Call
|
AA
|
4,489,120
|
|
Revenue Bonds, Silver Line Phase 1 Project, Series 2011, 5.000%, 4/01/27
|
|||||
Government of Guam, Business Privilege Tax Bonds, Series 2011A:
|
|||||
1,020
|
5.000%, 1/01/31
|
1/22 at 100.00
|
A
|
1,093,981
|
|
500
|
5.250%, 1/01/36
|
1/22 at 100.00
|
A
|
542,525
|
|
Greater Richmond Convention Center Authority, Virginia, Hotel Tax Revenue Bonds, Series 2005:
|
|||||
2,480
|
5.000%, 6/15/15 – NPFG Insured
|
No Opt. Call
|
AA–
|
2,570,917
|
|
5,700
|
5.000%, 6/15/30 – NPFG Insured
|
6/15 at 100.00
|
AA–
|
5,864,160
|
|
890
|
Montgomery County Industrial Development Authority, Virginia, Public Facility Lease Revenue
|
2/18 at 100.00
|
AA–
|
985,212
|
|
Bonds, Public Projects Series 2008, 5.000%, 2/01/29
|
|||||
645
|
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N, 5.500%,
|
No Opt. Call
|
Caa1
|
598,005
|
|
7/01/29 – AMBAC Insured
|
|||||
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A:
|
|||||
5,085
|
0.000%, 7/01/29 – AMBAC Insured
|
No Opt. Call
|
BB
|
1,724,425
|
|
5,000
|
0.000%, 7/01/43 – AMBAC Insured
|
No Opt. Call
|
BB
|
715,600
|
|
5,875
|
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005C,
|
No Opt. Call
|
BB
|
2,170,871
|
|
0.000%, 7/01/28 – AMBAC Insured
|
|||||
10,000
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%,
|
No Opt. Call
|
AA–
|
1,763,700
|
|
8/01/41 – NPFG Insured
|
|||||
5
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA,
|
No Opt. Call
|
AA–
|
5,020
|
|
5.500%, 7/01/18 – NPFG Insured
|
|||||
760
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2007CC,
|
No Opt. Call
|
AA–
|
759,430
|
|
5.500%, 7/01/28 – NPFG Insured
|
|||||
205
|
Stafford County and Staunton Industrial Development Authority, Virginia, Revenue Bonds,
|
2/17 at 100.00
|
N/R
|
210,373
|
|
Virginia Municipal League and Virginia Association of Counties Finance Program, Series 2007C,
|
|||||
5.000%, 2/01/37 – SYNCORA GTY Insured
|
|||||
1,000
|
Stafford County Economic Development Authority, Virginia, Lease Revenue Bonds, Public Facility
|
4/18 at 100.00
|
AA
|
1,100,930
|
|
Projects, Series 2008, 5.000%, 4/01/33 – AGC Insured (UB)
|
|||||
1,550
|
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Series 2003, 5.000%,
|
10/14 at 100.00
|
BBB+
|
1,552,000
|
|
10/01/31 – ACA Insured
|
|||||
3,000
|
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Senior Lien
|
10/20 at 100.00
|
BBB
|
3,285,210
|
|
Series 2010A, 5.000%, 10/01/29
|
|||||
1,000
|
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Series 2009B,
|
10/19 at 100.00
|
BBB
|
1,097,920
|
|
5.000%, 10/01/25
|
|||||
1,230
|
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Series 2012A,
|
10/22 at 100.00
|
AA
|
1,382,459
|
|
5.000%, 10/01/32 – AGM Insured
|
|||||
1,950
|
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Subordinate
|
10/20 at 100.00
|
Baa2
|
2,159,840
|
|
Lien Series 2010B, 5.250%, 10/01/29
|
|||||
1,200
|
Virginia College Building Authority, Educational Facilities Revenue Bonds, 21st Century
|
No Opt. Call
|
AA+
|
1,280,808
|
|
College Program, Series 2011A, 4.000%, 2/01/29
|
|||||
1,665
|
Virginia College Building Authority, Educational Facilities Revenue Bonds, 21st Century
|
2/19 at 100.00
|
AA+
|
2,404,094
|
|
College Program, Tender Option Bond Trust 09-3B, 13.150%, 2/01/27 (IF) (4)
|
|||||
1,665
|
Virginia College Building Authority, Educational Facilities Revenue Bonds, 21st Century
|
2/19 at 100.00
|
AA+
|
2,350,797
|
|
College Program, Tender Option Bond Trust 09-4B, 13.150%, 2/01/28 (IF) (4)
|
|||||
500
|
Virginia Commonwealth Transportation Board, Federal Transportation Grant Anticipation Revenue
|
No Opt. Call
|
Aa1
|
501,105
|
|
Notes, Series 2012A, 5.000%, 9/15/14
|
|||||
2,000
|
Virginia Public Building Authority, Public Facilities Revenue Bonds, Series 2006, 5.000%, 8/01/15
|
No Opt. Call
|
AA+
|
2,090,280
|
|
5,000
|
Virginia Public Building Authority, Public Facilities Revenue Bonds, Series 2007A, 5.000%, 8/01/15
|
No Opt. Call
|
AA+
|
5,225,700
|
|
2,055
|
Virginia Public School Authority, Literary Trust Fund State Appropriation Bonds, School
|
No Opt. Call
|
AA+
|
2,118,294
|
|
Technology Notes, Series 2013-I, 5.000%, 4/15/15
|
|||||
5,260
|
Virginia Resources Authority, Infrastructure Revenue Bonds, Pooled Financing Program, Series
|
No Opt. Call
|
AAA
|
6,011,075
|
|
2012A, 5.000%, 11/01/42
|
|||||
95
|
Virginia Resources Authority, Infrastructure Revenue Bonds, Pre-refunded-Pooled Loan Bond
|
11/14 at 100.00
|
AA
|
95,385
|
|
Program, Series 2002A, 5.000%, 5/01/19
|
|||||
1,000
|
Virginia Transportation Board, Transportation Revenue Bonds, U.S. Route 58 Corridor
|
No Opt. Call
|
AA+
|
1,074,330
|
|
Development Program, Series 2006C, 5.000%, 5/15/23
|
|||||
74,930
|
Total Tax Obligation/Limited
|
59,694,975
|
|||
Transportation – 26.1% (17.4% of Total Investments)
|
|||||
1,000
|
Chesapeake Bay Bridge and Tunnel Commission, Virginia, General Resolution Revenue Refunding
|
No Opt. Call
|
AA–
|
1,180,080
|
|
Bonds, Series 1998, 5.500%, 7/01/25 – NPFG Insured
|
|||||
Chesapeake, Virginia, Transportation System Senior Toll Road Revenue Bonds, Capital
|
|||||
Appreciation Series 2012B:
|
|||||
2,000
|
0.000%, 7/15/32
|
7/28 at 100.00
|
BBB
|
1,358,080
|
|
4,125
|
0.000%, 7/15/40
|
7/28 at 100.00
|
BBB
|
2,624,243
|
|
1,000
|
0.000%, 7/15/40 – AGM Insured
|
7/28 at 100.00
|
AA
|
666,910
|
|
6,700
|
Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Second Senior Lien
|
10/28 at 100.00
|
BBB+
|
6,778,122
|
|
Revenue Bonds, Dulles Metrorail Capital Appreciation, Series 2010B, 0.000%, 10/01/44
|
|||||
Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Second Senior Lien
|
|||||
Revenue Bonds, Series 2009B:
|
|||||
4,000
|
0.000%, 10/01/26 – AGC Insured
|
No Opt. Call
|
AA
|
2,489,200
|
|
11,825
|
0.000%, 10/01/34 – AGC Insured
|
No Opt. Call
|
AA
|
4,560,075
|
|
1,135
|
0.000%, 10/01/36 – AGC Insured
|
No Opt. Call
|
AA
|
388,840
|
|
5,010
|
0.000%, 10/01/39 – AGC Insured
|
No Opt. Call
|
AA
|
1,452,349
|
|
750
|
Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding
|
10/20 at 100.00
|
AA–
|
863,625
|
|
Series 2010B, 5.000%, 10/01/26 (Alternative Minimum Tax)
|
|||||
300
|
Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Series 2005A,
|
10/15 at 100.00
|
AA–
|
316,317
|
|
5.250%, 10/01/16 – NPFG Insured (Alternative Minimum Tax)
|
|||||
1,200
|
Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Series 2009C,
|
10/18 at 100.00
|
AA–
|
1,356,396
|
|
5.000%, 10/01/28
|
|||||
Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Series 2010A:
|
|||||
3,000
|
5.000%, 10/01/30
|
10/20 at 100.00
|
AA–
|
3,438,810
|
|
420
|
5.000%, 10/01/35
|
10/20 at 100.00
|
AA–
|
476,847
|
|
2,500
|
Metropolitan Washington D.C. Airports Authority, System Revenue Bonds, Series 2007B, 5.000%,
|
10/17 at 100.00
|
AA–
|
2,675,000
|
|
10/01/35 – AMBAC Insured (Alternative Minimum Tax)
|
|||||
3,000
|
Richmond Metropolitan Authority, Virginia, Revenue Refunding Bonds, Expressway System, Series
|
No Opt. Call
|
AA–
|
3,416,400
|
|
2002, 5.250%, 7/15/22 – FGIC Insured
|
|||||
Route 460 Funding Corporation, Virginia, Toll Road Revenue Bonds, Series 2012A:
|
|||||
2,000
|
5.125%, 7/01/49
|
No Opt. Call
|
BBB–
|
2,106,460
|
|
1,075
|
5.000%, 7/01/52
|
No Opt. Call
|
BBB–
|
1,118,871
|
|
Route 460 Funding Corporation, Virginia, Toll Road Revenue Bonds, Series 2012B:
|
|||||
1,000
|
0.000%, 7/01/28
|
No Opt. Call
|
BBB–
|
522,220
|
|
1,000
|
0.000%, 7/01/29
|
No Opt. Call
|
BBB–
|
493,960
|
|
2,000
|
0.000%, 7/01/30
|
No Opt. Call
|
BBB–
|
937,000
|
|
6,935
|
0.000%, 7/01/37
|
No Opt. Call
|
BBB–
|
2,189,449
|
|
15,285
|
0.000%, 7/01/45
|
No Opt. Call
|
BBB–
|
3,108,052
|
|
3,195
|
Virginia Port Authority, Port Facilities Revenue Refunding Bonds Series 2010, 5.000%, 7/01/40
|
7/19 at 100.00
|
Aa3
|
3,394,049
|
|
Virginia Port Authority, Revenue Bonds, Port Authority Facilities, Series 2006:
|
|||||
3,000
|
4.750%, 7/01/31 – FGIC Insured (Alternative Minimum Tax)
|
11/14 at 100.00
|
AA+
|
3,003,810
|
|
3,415
|
5.000%, 7/01/36 – FGIC Insured (Alternative Minimum Tax)
|
11/14 at 100.00
|
AA–
|
3,417,834
|
|
1,500
|
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, 95 Express Lanes LLC
|
1/22 at 100.00
|
BBB–
|
1,557,180
|
|
Project, Series 2012, 5.000%, 1/01/40 (Alternative Minimum Tax)
|
|||||
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River
|
|||||
Crossing, Opco LLC Project, Series 2012:
|
|||||
500
|
5.250%, 1/01/32 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB–
|
542,760
|
|
5,000
|
6.000%, 1/01/37 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB–
|
5,656,150
|
|
5,500
|
5.500%, 1/01/42 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB–
|
5,999,895
|
|
99,370
|
Total Transportation
|
68,088,984
|
|||
U.S. Guaranteed – 16.1% (10.7% of Total Investments) (5)
|
|||||
1,750
|
Bristol, Virginia, General Obligation Utility System Revenue Bonds, Series 2002, 5.000%,
|
No Opt. Call
|
AA (5)
|
2,102,083
|
|
11/01/24 – AGM Insured (ETM)
|
|||||
1,000
|
Bristol, Virginia, Utility System Revenue Refunding Bonds, Series 2001, 5.000%, 7/15/21 – AGM
|
No Opt. Call
|
AA (5)
|
1,162,880
|
|
Insured (ETM)
|
|||||
1,000
|
Capital Region Airport Commission, Virginia, Airport Revenue Bonds, Refunding Series 2005A,
|
7/15 at 100.00
|
AA (5)
|
1,041,030
|
|
5.000%, 7/01/18 (Pre-refunded 7/01/15) – AGM Insured
|
|||||
1,340
|
Culpeper Industrial Development Authority, Virginia, Lease Revenue Bonds, School Facilities
|
1/15 at 100.00
|
AA (5)
|
1,362,257
|
|
Project, Series 2005, 5.000%, 1/01/20 (Pre-refunded 1/01/15) – NPFG Insured
|
|||||
2,300
|
Fairfax County Economic Development Authority, Virginia, Lease Revenue Bonds, Joint Public
|
5/16 at 100.00
|
AA+ (5)
|
2,484,667
|
|
Uses Community Project, Series 2006, 5.000%, 5/15/18 (Pre-refunded 5/15/16)
|
|||||
100
|
Henrico County Economic Development Authority, Virginia, Residential Care Facility Revenue Bonds,
|
10/14 at 101.50
|
BBB+ (5)
|
101,923
|
|
Westminster Canterbury of Richmond, Series 2006, 5.000%, 10/01/27 (Pre-refunded 10/01/14)
|
|||||
1,270
|
James City County Economic Development Authority, Virginia, Lease Revenue Bonds, County
|
7/15 at 100.00
|
AA+ (5)
|
1,324,470
|
|
Government Projects, Series 2005, 5.000%, 7/15/19 (Pre-refunded 7/15/15)
|
|||||
1,000
|
Loudoun County Sanitation Authority, Virginia, Water and Sewerage System Revenue Bonds, Series
|
1/15 at 100.00
|
AAA
|
1,016,720
|
|
2004, 5.000%, 1/01/26 (Pre-refunded 1/01/15)
|
|||||
500
|
Loudoun County, Virginia, General Obligation Bonds, Public Improvement Series 2005B, 5.000%,
|
6/15 at 100.00
|
AAA
|
518,605
|
|
6/01/18 (Pre-refunded 6/01/15)
|
|||||
1,700
|
Loudoun County, Virginia, General Obligation Bonds, Series 2006B, 5.000%, 12/01/25
|
12/16 at 100.00
|
AAA
|
1,877,701
|
|
(Pre-refunded 12/01/16)
|
|||||
3,000
|
Norfolk, Virginia, Parking System Revenue Bonds, Series 2005A, 5.000%, 2/01/23 (Pre-refunded
|
2/15 at 100.00
|
AA– (5)
|
3,062,070
|
|
2/01/15) – NPFG Insured
|
|||||
580
|
Prince William County, Virginia, Certificates of Participation, County Facilities, Series
|
6/15 at 100.00
|
Aa1 (5)
|
601,535
|
|
2005, 5.000%, 6/01/20 (Pre-refunded 6/01/15) – AMBAC Insured
|
|||||
145
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA,
|
No Opt. Call
|
A3 (5)
|
170,140
|
|
5.500%, 7/01/18 – NPFG Insured (ETM)
|
|||||
710
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2005BB,
|
No Opt. Call
|
A2 (5)
|
879,846
|
|
5.250%, 7/01/22 – AGM Insured (ETM)
|
|||||
620
|
Richmond, Virginia, General Obligation Bonds, Series 2005A, 5.000%, 7/15/17 (Pre-refunded
|
7/15 at 100.00
|
AA+ (5)
|
646,251
|
|
7/15/15) – AGM Insured
|
|||||
Stafford County and Staunton Industrial Development Authority, Virginia, Revenue Bonds,
|
|||||
Virginia Municipal League and Virginia Association of Counties Finance Program, Series 2006A:
|
|||||
710
|
5.000%, 8/01/23 (Pre-refunded 8/01/16) – NPFG Insured
|
8/16 at 100.00
|
A3 (5)
|
772,665
|
|
2,490
|
5.000%, 8/01/23 (Pre-refunded 8/01/16) – NPFG Insured
|
8/16 at 100.00
|
A3 (5)
|
2,709,767
|
|
Stafford County and Staunton Industrial Development Authority, Virginia, Revenue Bonds,
|
|||||
Virginia Municipal League and Virginia Association of Counties Finance Program, Series 2007C:
|
|||||
105
|
5.000%, 2/01/37 (Pre-refunded 2/01/17) – SYNCORA GTY Insured
|
2/17 at 100.00
|
N/R (5)
|
116,657
|
|
190
|
5.000%, 2/01/37 (Pre-refunded 2/01/17) – SYNCORA GTY Insured
|
2/17 at 100.00
|
N/R (5)
|
210,655
|
|
4,000
|
Stafford County Economic Development Authority, Virginia, Lease Revenue Bonds, Public Facility
|
4/18 at 100.00
|
AA (5)
|
4,590,160
|
|
Projects, Series 2008, 5.000%, 4/01/33 (Pre-refunded 4/01/18) – AGC Insured (UB)
|
|||||
2,135
|
The Rector and Visitors of the University of Virginia, General Revenue Bonds, Series 2005,
|
6/15 at 100.00
|
N/R (5)
|
2,214,443
|
|
5.000%, 6/01/37 (Pre-refunded 6/01/15)
|
|||||
Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset-Backed Bonds,
|
|||||
Series 2005:
|
|||||
3,510
|
5.500%, 6/01/26 (Pre-refunded 6/01/15)
|
6/15 at 100.00
|
Aaa
|
3,641,871
|
|
1,860
|
5.625%, 6/01/37 (Pre-refunded 6/01/15)
|
6/15 at 100.00
|
Aaa
|
1,937,543
|
|
2,295
|
Virginia Beach Development Authority, Public Facilities Revenue Bonds, Series 2005A, 5.000%,
|
5/15 at 100.00
|
AA+ (5)
|
2,370,850
|
|
5/01/22 (Pre-refunded 5/01/15)
|
|||||
2,100
|
Virginia Beach, Virginia, General Obligation Bonds, Series 2005, 5.000%, 1/15/20
|
1/16 at 100.00
|
AAA
|
2,235,639
|
|
(Pre-refunded 1/15/16)
|
|||||
30
|
Virginia College Building Authority, Educational Facilities Revenue Bonds, Public Higher
|
9/18 at 100.00
|
N/R (5)
|
34,937
|
|
Education Financing Program, Series 2009A, 5.000%, 9/01/28 (Pre-refunded 9/01/18)
|
|||||
2,540
|
Virginia Public School Authority, School Financing Bonds, 1997 Resolution, Series 2005C,
|
8/15 at 100.00
|
AA+ (5)
|
2,655,011
|
|
5.000%, 8/01/17 (Pre-refunded 8/01/15)
|
|||||
38,980
|
Total U.S. Guaranteed
|
41,842,376
|
|||
Utilities – 3.2% (2.1% of Total Investments)
|
|||||
395
|
Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/34
|
10/22 at 100.00
|
BBB
|
432,134
|
|
655
|
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2007UU, 5.000%, 7/01/19 –
|
No Opt. Call
|
AA–
|
666,155
|
|
NPFG Insured
|
|||||
730
|
Virgin Islands Water and Power Authority, Electric System Revenue Bonds, Refunding Series
|
7/17 at 100.00
|
BB+
|
730,905
|
|
2007A, 5.000%, 7/01/24
|
|||||
3,000
|
Wisconsin Public Power Incorporated System, Power Supply System Revenue Bonds, Series 2005A,
|
7/15 at 100.00
|
AA+
|
3,098,550
|
|
5.000%, 7/01/35 – AMBAC Insured
|
|||||
3,250
|
York County Economic Development Authority, Virginia, Pollution Control Revenue Bonds,
|
No Opt. Call
|
A2
|
3,317,599
|
|
Virginia Electric and Power Company Project, Refunding Series 2009A, 1.875%, 5/01/33
|
|||||
(Mandatory put 5/16/19)
|
|||||
8,030
|
Total Utilities
|
8,245,343
|
|||
Water and Sewer – 9.3% (6.2% of Total Investments)
|
|||||
1,395
|
Fairfax County, Virginia, Sewer Revenue Bonds, Series 2012, 5.000%, 7/15/18
|
No Opt. Call
|
AAA
|
1,621,450
|
|
810
|
Guam Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2013,
|
7/23 at 100.00
|
A–
|
905,742
|
|
5.500%, 7/01/43
|
|||||
6,500
|
Hampton Roads Sanitation District, Virginia, Wastewater Revenue Bonds, Series 2012A,
|
No Opt. Call
|
AAA
|
7,211,425
|
|
5.000%,1/01/39
|
|||||
Henry County Public Service Authority, Virginia, Water and Sewerage Revenue Refunding Bonds,
|
|||||
Series 2001:
|
|||||
1,265
|
5.500%, 11/15/17 – AGM Insured
|
No Opt. Call
|
AA
|
1,407,300
|
|
3,000
|
5.500%, 11/15/19 – AGM Insured
|
No Opt. Call
|
AA
|
3,500,580
|
|
700
|
Upper Occoquan Sewage Authority, Virginia, Regional Sewerage System Revenue Refunding Bonds,
|
No Opt. Call
|
AAA
|
728,539
|
|
Series 2004, 5.000%, 7/01/15 – NPFG Insured
|
|||||
3,300
|
Virginia Beach, Virginia, Water and Sewer System Revenue Bonds, Series 2005, 5.000%, 10/01/30
|
10/15 at 100.00
|
AAA
|
3,450,577
|
|
1,000
|
Virginia Resources Authority, Clean Water State Revolving Fund Revenue Bonds, Series 2008,
|
10/18 at 100.00
|
AAA
|
1,163,810
|
|
5.000%, 10/01/19
|
|||||
1,000
|
Virginia Resources Authority, Water and Sewerage System Revenue Bonds, Goochland County –
|
11/22 at 63.13
|
AA
|
467,080
|
|
Tuckahoe Creek Service District Project, Series 2012, 0.000%, 11/01/34
|
|||||
3,050
|
Virginia State Resources Authority, Clean Water Revenue Bonds, Series 2007, Trust 3036,
|
No Opt. Call
|
AAA
|
3,907,599
|
|
13.303%, 10/01/15 (IF)
|
|||||
22,020
|
Total Water and Sewer
|
24,364,102
|
|||
$ 490,860
|
Total Long-term Investments (cost $368,919,648)
|
390,202,326
|
|||
Floating Rate Obligations – (3.5)%
|
(9,250,000)
|
||||
Variable Rate Demand Preferred Shares, at Liquidation Value – (49.1)% (6)
|
(128,000,000)
|
||||
Other Assets Less Liabilities – 3.0%
|
7,826,749
|
||||
Net Assets Applicable to Common Shares – 100%
|
$ 260,779,075
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Long-Term Investments:
|
||||
Municipal Bonds
|
$ —
|
$390,202,326
|
$ —
|
$390,202,326
|
Gross unrealized appreciation and gross unrealized depreciation of investments as of August 31, 2014, were as follows:
|
|
Gross unrealized:
|
|
Appreciation
|
$27,728,823
|
Depreciation
|
(5,929,709)
|
Net unrealized appreciation (depreciation) of investments
|
$21,799,114
|
(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)
|
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for
|
|
investments in inverse floating rate transactions.
|
||
(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. Certain bonds backed by U.S. Government or
|
||
agency securities are regarded as having an implied rating equal to the rating of such securities.
|
||
(6)
|
Variable Rate Demand Preferred Shares, at Liquidation Value as a percentage of Total Investments
|
|
is 32.8%.
|
||
WI/DD
|
Investment, or portion of investment, 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.
|