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 811-09475
 
Nuveen Dividend Advantage Municipal Income 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:            10/31          
 
Date of reporting period:         7/31/12         
 
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 Dividend Advantage Municipal Income Fund (NVG) 
      
   
July 31, 2012 
      
Principal 
    
Optional Call 
    
Amount (000) 
  
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
   
Municipal Bonds – 141.5% (98.7% of Total Investments) 
      
   
Alabama – 0.6% (0.4% of Total Investments) 
      
$    2,270 
  
Auburn University, Alabama, General Fee Revenue Bonds, Series 2012A, 5.000%, 6/01/34 
6/22 at 100.00 
Aa2 
$    2,650,883 
   
Alaska – 3.7% (2.6% of Total Investments) 
      
15,000 
  
Alaska, International Airport System Revenue Bonds, Series 2002B, 5.250%, 10/01/27 
10/12 at 100.00 
Aa3 (4) 
15,127,198 
   
(Pre-refunded 10/01/12) – AMBAC Insured 
      
3,035 
  
Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, 
6/14 at 100.00 
B+ 
2,609,918 
   
Series 2006A, 5.000%, 6/01/32 
      
18,035 
  
Total Alaska 
    
17,737,116 
   
Arizona – 2.5% (1.8% of Total Investments) 
      
5,000 
  
Phoenix Civic Improvement Corporation, Arizona, Senior Lien Airport Revenue Bonds, Series 
1/13 at 100.00 
AA– 
5,006,100 
   
2002B, 5.250%, 7/01/32 – FGIC Insured (Alternative Minimum Tax) 
      
6,000 
  
Phoenix, Arizona, Civic Improvement Revenue Bonds, Civic Plaza, Series 2005B, 0.000%, 
No Opt. Call 
AA 
7,232,940 
   
7/01/37 – FGIC Insured 
      
11,000 
  
Total Arizona 
    
12,239,040 
   
California – 17.6% (12.3% of Total Investments) 
      
2,000 
  
Alameda Corridor Transportation Authority, California, Subordinate Lien Revenue Bonds, Series 
No Opt. Call 
BBB+ 
1,467,740 
   
2004A, 0.000%, 10/01/20 – AMBAC Insured 
      
6,160 
  
Alhambra Unified School District, Los Angeles County, California, General Obligation Bonds, 
No Opt. Call 
AA– 
2,611,409 
   
Capital Appreciation Series 2009B, 0.000%, 8/01/30 – AGC Insured 
      
   
California Educational Facilities Authority, Revenue Bonds, Occidental College, Series 2005A: 
      
1,485 
  
5.000%, 10/01/26 – NPFG Insured 
10/15 at 100.00 
Aa3 
1,610,379 
1,565 
  
5.000%, 10/01/27 – NPFG Insured 
10/15 at 100.00 
Aa3 
1,693,533 
10,000 
  
California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard 
8/22 at 100.00 
AA 
10,867,398 
   
Children’s Hospital, Series 2012A, 5.000%, 8/15/51 
      
   
California Health Facilities Financing Authority, Revenue Bonds, Stanford Hospitals and 
      
   
Clinics, Tender Option Bond Trust 3294: 
      
855 
  
9.296%, 2/15/20 (IF) (5) 
No Opt. Call 
AA– 
1,024,153 
375 
  
9.296%, 2/15/20 (IF) 
No Opt. Call 
AA– 
449,190 
340 
  
9.296%, 2/15/20 (IF) 
No Opt. Call 
AA– 
407,204 
3,130 
  
California Statewide Communities Development Authority, Revenue Bonds, Kaiser Permanente, 
4/22 at 100.00 
A+ 
3,435,332 
   
Series 2012A, 5.000%, 4/01/42 
      
2,000 
  
Ceres Unified School District, Stanislaus County, California, General Obligation Bonds, Series 
8/12 at 29.17 
A+ 
583,560 
   
2002B, 0.000%, 8/01/33 – FGIC Insured 
      
14,345 
  
Corona-Norco Unified School District, Riverside County, California, General Obligation Bonds, 
No Opt. Call 
Aa2 
3,758,247 
   
Capital Appreciation, Election 2006 Refunding Series 2009C, 0.000%, 8/01/39 – AGM Insured 
      
   
El Rancho Unified School District, Los Angeles County, California, General Obligation Bonds, 
      
   
Election 2010 Series 2011A: 
      
2,615 
  
0.000%, 8/01/31 – AGM Insured 
8/28 at 100.00 
Aa3 
1,728,672 
3,600 
  
0.000%, 8/01/34 – AGM Insured 
8/28 at 100.00 
Aa3 
2,323,584 
2,425 
  
Fullerton Public Financing Authority, California, Tax Allocation Revenue Bonds, Series 2005, 
9/15 at 100.00 
A 
2,480,605 
   
5.000%, 9/01/27 – AMBAC Insured 
      
18,665 
  
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement 
6/15 at 100.00 
A2 
19,182,017 
   
Asset-Backed Revenue Bonds, Series 2005A, 5.000%, 6/01/35 – FGIC Insured 
      
   
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed 
      
   
Bonds, Series 2007A-1: 
      
3,550 
  
4.500%, 6/01/27 
6/17 at 100.00 
BB– 
3,047,178 
1,570 
  
5.000%, 6/01/33 
6/17 at 100.00 
BB– 
1,260,427 
1,000 
  
5.750%, 6/01/47 
6/17 at 100.00 
BB– 
846,630 
365 
  
5.125%, 6/01/47 
6/17 at 100.00 
BB– 
279,141 
1,990 
  
Kern Community College District, California, General Obligation Bonds, Series 2006, 0.000%, 
No Opt. Call 
Aa2 
1,191,314 
   
11/01/25 – AGM Insured 
      
   
Oceanside Unified School District, San Diego County, California, General Obligation Bonds, 
      
   
Series 2009A: 
      
5,905 
  
0.000%, 8/01/26 – AGC Insured 
No Opt. Call 
AA– 
3,252,710 
2,220 
  
0.000%, 8/01/28 – AGC Insured 
No Opt. Call 
AA– 
1,071,505 
2,675 
  
Palomar Pomerado Health, California, General Obligation Bonds, Series 2009A, 0.000%, 8/01/38 – 
8/29 at 100.00 
AA– 
2,289,720 
   
AGC Insured 
      
4,150 
  
Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of 
10/21 at 100.00 
AA– 
3,807,501 
   
Participation, Series 2011, 0.000%, 10/01/28 – AGM Insured 
      
   
San Francisco Unified School District, California, General Obligation Bonds, Series 2007A: 
      
1,000 
  
3.000%, 6/15/25 – AGM Insured 
6/17 at 100.00 
Aa2 
1,019,600 
1,180 
  
3.000%, 6/15/26 – AGM Insured 
6/17 at 100.00 
Aa2 
1,194,962 
6,820 
  
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment 
8/17 at 100.00 
BBB 
6,297,656 
   
Project, Series 2006C, 4.250%, 8/01/30 – NPFG Insured 
      
4,275 
  
Sequoia Union High School District, San Mateo County, California, General Obligation Bonds, 
7/14 at 102.00 
Aa1 
4,371,658 
   
Series 2006, 3.500%, 7/01/29 – AGM Insured 
      
1,690 
  
Ventura County Community College District, California, General Obligation Bonds, Series 2005B, 
8/15 at 100.00 
AA 
1,866,825 
   
5.000%, 8/01/28 – NPFG Insured 
      
107,950 
  
Total California 
    
85,419,850 
   
Colorado – 5.9% (4.1% of Total Investments) 
      
17,300 
  
Adams County, Colorado, FHA-Insured Mortgage Revenue Bonds, Platte Valley Medical Center, 
8/15 at 100.00 
BBB 
18,551,826 
   
Series 2005, 5.000%, 8/01/24 – NPFG Insured 
      
750 
  
Arkansas River Power Authority, Colorado, Power Revenue Bonds, Series 2006, 5.250%, 10/01/32 – 
10/16 at 100.00 
BBB– 
767,528 
   
SYNCORA GTY Insured 
      
17,000 
  
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B, 0.000%, 
No Opt. Call 
BBB 
9,145,490 
   
9/01/25 – NPFG Insured 
      
35,050 
  
Total Colorado 
    
28,464,844 
   
District of Columbia – 1.7% (1.2% of Total Investments) 
      
6,805 
  
District of Columbia, Revenue Bonds, Georgetown University, Series 2007A, 4.500%, 4/01/42 – 
4/17 at 100.00 
A– 
7,049,368 
   
AMBAC Insured 
      
935 
  
Washington Convention Center Authority, District of Columbia, Dedicated Tax Revenue Bonds, 
10/16 at 100.00 
AA+ 
1,077,728 
   
Tender Option Bond Trust 1606, 11.436%, 10/01/30 – AMBAC Insured (IF) 
      
7,740 
  
Total District of Columbia 
    
8,127,096 
   
Florida – 12.0% (8.4% of Total Investments) 
      
3,000 
  
Cape Coral, Florida, Water and Sewer Revenue Bonds, Refunding Series 2011, 5.000%, 10/01/41 – 
10/21 at 100.00 
AA– 
3,363,870 
   
AGM Insured 
      
   
Florida Municipal Loan Council, Revenue Bonds, Series 2003B: 
      
2,305 
  
5.250%, 12/01/17 – NPFG Insured 
12/13 at 100.00 
A– 
2,422,647 
1,480 
  
5.250%, 12/01/18 – NPFG Insured 
12/13 at 100.00 
A– 
1,550,996 
   
Greater Orlando Aviation Authority, Florida, Airport Facilities Revenue Bonds, Series 2002B: 
      
5,655 
  
5.125%, 10/01/21 (Pre-refunded 10/01/12) – AGM Insured (Alternative Minimum Tax) 
10/12 at 100.00 
AA– (4) 
5,699,675 
5,945 
  
5.125%, 10/01/21 (Pre-refunded 10/01/12) – AGM Insured (Alternative Minimum Tax) 
10/12 at 100.00 
Aa3 (4) 
5,986,615 
2,335 
  
Lee County, Florida, Airport Revenue Refunding Bonds, Series 2011A, 5.375%, 10/01/32 – AGM 
8/21 at 100.00 
AA– 
2,621,668 
   
Insured (Alternative Minimum Tax) 
      
1,545 
  
Miami, Florida, Special Obligation Non-Ad Valorem Revenue Refunding Bonds, Series 2011A, 
2/21 at 100.00 
AA– 
1,802,752 
   
6.000%, 2/01/31 – AGM Insured 
      
   
Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2002: 
      
7,165 
  
5.625%, 10/01/15 – FGIC Insured (Alternative Minimum Tax) 
10/12 at 100.00 
A2 
7,217,663 
5,600 
  
5.750%, 10/01/16 – FGIC Insured (Alternative Minimum Tax) 
10/12 at 100.00 
A2 
5,640,432 
10,000 
  
5.125%, 10/01/21 – FGIC Insured (Alternative Minimum Tax) 
10/12 at 100.00 
A2 
10,045,300 
2,000 
  
5.250%, 10/01/22 – FGIC Insured (Alternative Minimum Tax) 
10/12 at 100.00 
A2 
2,008,860 
5,300 
  
Miami-Dade County, Florida, Transit System Sales Surtax Revenue Bonds, Series 2012, 5.000%, 
7/22 at 100.00 
AA 
5,958,737 
   
7/01/42 (WI/DD, Settling 8/01/12) 
      
1,500 
  
Orange County Health Facilities Authority, Florida, Hospital Revenue Bonds, Orlando Health, Inc., 
4/22 at 100.00 
A 
1,621,080 
   
Series 2012A, 5.000%, 10/01/42 
      
1,000 
  
South Miami Health Facilities Authority, Florida, Hospital Revenue, Baptist Health System 
8/17 at 100.00 
AA 
1,070,880 
   
Obligation Group, Series 2007, 5.000%, 8/15/42 (UB) (5) 
      
1,000 
  
Tallahassee, Florida, Energy System Revenue Bonds, Series 2005, 5.000%, 10/01/28 – NPFG Insured 
10/15 at 100.00 
AA 
1,095,290 
55,830 
  
Total Florida 
    
58,106,465 
   
Georgia – 2.4% (1.7% of Total Investments) 
      
6,925 
  
Atlanta and Fulton County Recreation Authority, Georgia, Guaranteed Revenue Bonds, Park 
12/15 at 100.00 
Aa2 
7,618,608 
   
Improvement, Series 2005A, 5.000%, 12/01/30 – NPFG Insured 
      
1,000 
  
Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2004, 5.000%, 11/01/22 – 
11/14 at 100.00 
AA– 
1,070,180 
   
AGM Insured 
      
1,000 
  
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University 
10/22 at 100.00 
Baa2 
1,119,490 
   
Project, Refunding Series 2012C, 5.250%, 10/01/27 
      
1,710 
  
Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia 
10/21 at 100.00 
Aa2 
1,904,615 
   
Medical Center Project, Series 2011B, 5.000%, 10/01/41 
      
10,635 
  
Total Georgia 
    
11,712,893 
   
Idaho – 1.9% (1.3% of Total Investments) 
      
3,995 
  
Idaho Health Facilities Authority, Revenue Bonds, Saint Luke’s Health System Project, Series 
3/22 at 100.00 
A 
4,301,057 
   
2012A, 5.000%, 3/01/47 – AGM Insured 
      
   
Idaho Housing and Finance Association, Grant and Revenue Anticipation Bonds, Federal Highway 
      
   
Trust Funds, Series 2006: 
      
3,000 
  
5.000%, 7/15/23 – NPFG Insured 
7/16 at 100.00 
Aa2 
3,389,190 
1,130 
  
5.000%, 7/15/24 – NPFG Insured 
7/16 at 100.00 
Aa2 
1,276,595 
8,125 
  
Total Idaho 
    
8,966,842 
   
Illinois – 13.5% (9.4% of Total Investments) 
      
   
Chicago, Illinois, Second Lien Passenger Facility Charge Revenue Bonds, O’Hare International 
      
   
Airport, Series 2001C: 
      
4,250 
  
5.500%, 1/01/16 (Pre-refunded 10/17/12) – AMBAC Insured (Alternative Minimum Tax) 
10/12 at 100.00 
AA (4) 
4,263,898 
4,485 
  
5.500%, 1/01/17 (Pre-refunded 10/17/12) – AMBAC Insured (Alternative Minimum Tax) 
10/12 at 100.00 
AA (4) 
4,498,276 
4,730 
  
5.500%, 1/01/18 (Pre-refunded 10/17/12) – AMBAC Insured (Alternative Minimum Tax) 
10/12 at 100.00 
AA (4) 
4,744,001 
2,930 
  
5.500%, 1/01/19 (Pre-refunded 10/17/12) – AMBAC Insured (Alternative Minimum Tax) 
10/12 at 100.00 
AA (4) 
2,938,673 
3,600 
  
Chicago, Illinois, Third Lien General Airport Revenue Bonds, O’Hare International Airport, 
1/16 at 100.00 
A2 
3,992,652 
   
Series 2005A, 5.250%, 1/01/24 – NPFG Insured 
      
3,000 
  
Chicago, Illinois, Third Lien General Airport Revenue Refunding Bonds, O’Hare International 
9/12 at 100.00 
A2 (4) 
3,012,600 
   
Airport, Series 2002A, 5.750%, 1/01/17 (Pre-refunded 9/12/12) – NPFG Insured (Alternative 
      
   
Minimum Tax) 
      
4,000 
  
Cicero, Cook County, Illinois, General Obligation Corporate Purpose Bonds, Series 2002, 
12/12 at 101.00 
BBB (4) 
4,104,440 
   
5.000%, 12/01/21 (Pre-refunded 12/01/12) – NPFG Insured 
      
   
Community College District 523, Counties of DeKalb, Kane, LaSalle, Lee, Ogle, Winnebago, and 
      
   
Boone, Illinois, General Obligation Bonds, Kishwaukee Community College, Capital Appreciation, 
      
   
Series 2011B: 
      
2,500 
  
0.000%, 2/01/33 
2/21 at 44.26 
AA 
781,300 
2,000 
  
0.000%, 2/01/34 
2/21 at 41.04 
AA 
578,060 
   
DuPage County Community School District 200, Wheaton, Illinois, General Obligation Bonds, 
      
   
Series 2003C: 
      
770 
  
5.250%, 10/01/22 (Pre-refunded 10/01/13) – AGM Insured 
10/13 at 100.00 
Aa2 (4) 
814,868 
250 
  
5.250%, 10/01/22 (Pre-refunded 10/01/13) – AGM Insured 
10/13 at 100.00 
Aa2 (4) 
264,568 
480 
  
5.250%, 10/01/22 (Pre-refunded 10/01/13) – AGM Insured 
10/13 at 100.00 
Aa3 (4) 
504,994 
5,000 
  
Illinois Finance Authority, Revenue Bonds, The University of Chicago, Series 2012A, 
10/21 at 100.00 
Aa1 
5,665,300 
   
5.000%, 10/01/51 
      
3,500 
  
Illinois Municipal Electric Agency, Power Supply System Revenue Bonds, Series 2007A, 5.000%, 
2/17 at 100.00 
A+ 
3,750,705 
   
2/01/35 – FGIC Insured 
      
   
Illinois State, General Obligation Bonds, Refunding Series 2012: 
      
635 
  
5.000%, 8/01/21 
No Opt. Call 
A 
729,444 
310 
  
5.000%, 8/01/22 
No Opt. Call 
A 
357,318 
685 
  
5.000%, 8/01/23 
No Opt. Call 
A 
788,010 
1,265 
  
5.000%, 8/01/24 
No Opt. Call 
A 
1,431,360 
   
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion 
      
   
Project, Capital Appreciation Refunding Series 2010B-1: 
      
25,000 
  
0.000%, 6/15/44 – AGM Insured 
No Opt. Call 
AAA 
5,029,500 
17,465 
  
0.000%, 6/15/45 – AGM Insured 
No Opt. Call 
AAA 
3,319,922 
3,335 
  
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion 
6/20 at 100.00 
AAA 
4,169,284 
   
Project, Tender Option Bond Trust 3861, 13.577%, 6/15/42 (IF) (5) 
      
3,900 
  
Rosemont, Illinois, General Obligation Bonds, Series 2011A, 5.600%, 12/01/35 – AGM Insured 
12/20 at 100.00 
AA– 
4,386,798 
5,000 
  
Schaumburg, Illinois, General Obligation Bonds, Series 2004B, 5.250%, 12/01/34 – FGIC Insured 
12/14 at 100.00 
Aaa 
5,455,650 
99,090 
  
Total Illinois 
    
65,581,621 
   
Indiana – 4.3% (3.0% of Total Investments) 
      
3,380 
  
Evansville, Indiana, Sewerage Works Revenue Refunding Bonds, Series 2003A, 5.000%, 7/01/20 – 
7/13 at 100.00 
A1 
3,486,301 
   
AMBAC Insured 
      
1,050 
  
Indiana Finance Authority, Midwestern Disaster Relief Revenue Bonds, Ohio Valley Electric 
6/22 at 100.00 
BBB– 
1,093,827 
   
Corporation Project, Series 2012A, 5.000%, 6/01/39 – AGM Insured 
      
3,215 
  
Indiana Municipal Power Agency, Power Supply Revenue Bonds, Series 2007A, 5.000%, 1/01/42 – 
1/17 at 100.00 
A+ 
3,465,931 
   
NPFG Insured 
      
5,000 
  
Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project Series 2009A, 
1/19 at 100.00 
AA– 
5,682,350 
   
5.500%, 1/01/38 – AGC Insured 
      
6,960 
  
Valparaiso Middle School Building Corporation, Indiana, First Mortgage Refunding Bonds, Series 
1/13 at 100.00 
AA+ 
7,055,352 
   
2002, 5.000%, 7/15/24 – NPFG Insured 
      
19,605 
  
Total Indiana 
    
20,783,761 
   
Iowa – 0.0% (0.0% of Total Investments) 
      
10 
  
Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C, 
6/15 at 100.00 
B+ 
8,917 
   
5.500%, 6/01/42 
      
   
Kansas – 0.8% (0.6% of Total Investments) 
      
3,500 
  
Kansas Development Finance Authority, Revenue Bonds, Sisters of Charity of Leavenworth Health 
1/20 at 100.00 
AA 
3,824,695 
   
Services Corporation, Series 2010A, 5.000%, 1/01/40 
      
   
Kentucky – 1.9% (1.3% of Total Investments) 
      
2,415 
  
Kentucky State Property and Buildings Commission, Revenue Bonds, Project 93, Refunding Series 
2/19 at 100.00 
AA– 
2,952,434 
   
2009, 5.250%, 2/01/20 – AGC Insured 
      
5,350 
  
Louisville/Jefferson County Metro Government, Kentucky, Revenue Bonds, Catholic Health 
6/22 at 100.00 
AA 
6,010,190 
   
Initiatives, Series 2012A, 5.000%, 12/01/35 
      
7,765 
  
Total Kentucky 
    
8,962,624 
   
Louisiana – 4.3% (3.0% of Total Investments) 
      
1,000 
  
Jefferson Parish Hospital District1, Louisiana, Hospital Revenue Bonds, West Jefferson Medical 
1/21 at 100.00 
AA– 
1,166,190 
   
Center, Refunding Series 2011A, 6.000%, 1/01/39 – AGM Insured 
      
5,000 
  
Lafayette Public Trust Financing Authority, Louisiana, Revenue Bonds, Ragin’ Cajun Facilities 
10/20 at 100.00 
AA– 
5,699,050 
   
Inc. Project, Series 2010, 5.500%, 10/01/41 – AGM Insured 
      
1,325 
  
Louisiana Public Facilities Authority, Revenue Bonds, Baton Rouge General Hospital, Series 
7/14 at 100.00 
BBB 
1,402,857 
   
2004, 5.250%, 7/01/24 – NPFG Insured 
      
   
Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2006A: 
      
770 
  
4.750%, 5/01/39 – AGM Insured (UB) 
5/16 at 100.00 
Aa1 
826,703 
8,270 
  
4.500%, 5/01/41 – FGIC Insured (UB) 
5/16 at 100.00 
Aa1 
8,660,426 
3 
  
Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2006, Residuals 660-5, 15.803%, 
5/16 at 100.00 
AA– 
3,961 
   
5/01/34 – FGIC Insured (IF) 
      
3,085 
  
New Orleans, Louisiana, General Obligation Refunding Bonds, Series 2002, 5.125%, 9/01/21 
9/12 at 100.00 
A3 (4) 
3,094,008 
   
(Pre-refunded 9/04/12) – NPFG Insured 
      
120 
  
Tobacco Settlement Financing Corporation, Louisiana, Tobacco Settlement Asset-Backed Bonds, 
11/12 at 100.00 
A– 
122,399 
   
Series 2001B, 5.875%, 5/15/39 
      
19,573 
  
Total Louisiana 
    
20,975,594 
   
Massachusetts – 0.8% (0.6% of Total Investments) 
      
1,000 
  
Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, 
1/20 at 100.00 
AA+ 
1,131,730 
   
Commonwealth Contract Assistance Secured, Refunding Series 2010B, 5.000%, 1/01/35 
      
2,775 
  
Massachusetts Water Resources Authority, General Revenue Bonds, Series 2007A, 4.500%, 
2/17 at 100.00 
AA+ 
2,904,926 
   
8/01/46 – AGM Insured (UB) (5) 
      
3,775 
  
Total Massachusetts 
    
4,036,656 
   
Michigan – 2.5% (1.7% of Total Investments) 
      
1,055 
  
Battle Creek School District, Calhoun County, Michigan, General Obligation Bonds, Series 2007, 
5/17 at 100.00 
Aa2 
1,188,268 
   
5.000%, 5/01/31 – AGM Insured 
      
1,290 
  
Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds, 
7/22 at 100.00 
A+ 
1,362,962 
   
Refunding Senior Lien Series 2012A, 5.250%, 7/01/39 
      
3,230 
  
Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2011, 
12/21 at 100.00 
AA 
3,584,266 
   
5.000%, 12/01/39 
      
1,000 
  
Michigan Public Power Agency, AFEC Project Revenue Bonds, Series 2012A, 5.000%, 1/01/43 – 
1/22 at 100.00 
A2 
1,061,260 
   
AGM Insured 
      
2,855 
  
Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Series 
6/22 at 100.00 
AA 
3,128,880 
   
2009C, 5.000%, 12/01/48 
      
   
Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, 
      
   
Series 2006A: 
      
275 
  
5.000%, 12/01/31 (Pre-refunded 12/01/16) (UB) 
12/16 at 100.00 
N/R (4) 
325,848 
1,225 
  
5.000%, 12/01/31 (UB) 
12/16 at 100.00 
AA 
1,320,452 
10,930 
  
Total Michigan 
    
11,971,936 
   
Minnesota – 0.5% (0.3% of Total Investments) 
      
   
Central Minnesota Municipal Power Agency, Revenue Bonds, Brookings – Southeast Twin Cities 
      
   
Transmission Project, Series 2012: 
      
195 
  
5.000%, 1/01/32 
1/22 at 100.00 
A– 
223,936 
10 
  
5.000%, 1/01/42 
1/22 at 100.00 
A– 
11,173 
1,970 
  
Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Refunding Series 
No Opt. Call 
AA– 
2,173,383 
   
2009A, 5.000%, 1/01/15 – AGC Insured 
      
2,175 
  
Total Minnesota 
    
2,408,492 
   
Missouri – 0.4% (0.2% of Total Investments) 
      
1,600 
  
St. Louis County Pattonville School District R3, Missouri, General Obligation Bonds, Series 
3/14 at 100.00 
AA (4) 
1,724,976 
   
2004, 5.250%, 3/01/19 (Pre-refunded 3/01/14) – AGM Insured 
      
   
Nebraska – 1.9% (1.3% of Total Investments) 
      
6,360 
  
Lincoln, Nebraska, Electric System Revenue Bonds, Series 2005, 5.000%, 9/01/32 
9/15 at 100.00 
AA (4) 
7,245,312 
   
(Pre-refunded 9/01/15) 
      
   
Municipal Energy Agency of Nebraska, Power Supply System Revenue Bonds, Series 2003A: 
      
1,000 
  
5.250%, 4/01/20 (Pre-refunded 4/01/13) – AGM Insured 
4/13 at 100.00 
AA– (4) 
1,033,320 
1,000 
  
5.250%, 4/01/21 (Pre-refunded 4/01/13) – AGM Insured 
4/13 at 100.00 
AA– (4) 
1,033,320 
8,360 
  
Total Nebraska 
    
9,311,952 
   
Nevada – 2.4% (1.7% of Total Investments) 
      
2,350 
  
Clark County, Nevada, Airport Revenue Bonds, Subordinate Lien Series 2009C, 5.000%, 7/01/26 – 
7/19 at 100.00 
AA– 
2,642,340 
   
AGM Insured 
      
6,665 
  
Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran 
1/20 at 100.00 
AA– 
7,483,395 
   
International Airport, Series 2010A, 5.250%, 7/01/39 – AGM Insured 
      
1,300 
  
Las Vegas Valley Water District, Nevada, General Obligation Bonds, Water Series 2012B, 
6/22 at 100.00 
AA+ 
1,474,304 
   
5.000%, 6/01/42 
      
10,315 
  
Total Nevada 
    
11,600,039 
   
New Jersey – 1.7% (1.2% of Total Investments) 
      
1,900 
  
New Jersey Economic Development Authority, Revenue Bonds, Motor Vehicle Surcharge, Series 
7/14 at 100.00 
A 
2,024,792 
   
2004A, 5.000%, 7/01/29 – NPFG Insured 
      
2,150 
  
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 
No Opt. Call 
A+ 
2,665,570 
   
2006A, 5.250%, 12/15/20 
      
1,200 
  
New Jersey Turnpike Authority, Revenue Bonds, Refunding Series 2005D-1, 5.250%, 1/01/26 – 
No Opt. Call 
AA– 
1,527,684 
   
AGM Insured 
      
   
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, 
      
   
Series 2007-1A: 
      
1,535 
  
4.500%, 6/01/23 
6/17 at 100.00 
B1 
1,465,127 
820 
  
4.750%, 6/01/34 
6/17 at 100.00 
B2 
660,313 
7,605 
  
Total New Jersey 
    
8,343,486 
   
New York – 7.2% (5.0% of Total Investments) 
      
1,120 
  
Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Montefiore 
2/15 at 100.00 
BBB 
1,209,578 
   
Hospital, Series 2004, 5.000%, 8/01/23 – FGIC Insured 
      
3,660 
  
Dormitory Authority of the State of New York, Revenue Bonds, Mental Health Services Facilities 
2/15 at 100.00 
AA– 
4,020,290 
   
Improvements, Series 2005B, 5.000%, 2/15/23 – AMBAC Insured 
      
   
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Tender 
      
   
Option Bond Trust 3518: 
      
2,000 
  
13.450%, 2/15/33 (IF) 
2/19 at 100.00 
AAA 
2,867,720 
1,335 
  
13.439%, 2/15/33 (IF) 
2/19 at 100.00 
AAA 
1,913,669 
850 
  
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 
2/21 at 100.00 
A 
997,977 
   
2011A, 5.750%, 2/15/47 
      
3,130 
  
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 4.500%, 
2/17 at 100.00 
A 
3,221,177 
   
2/15/47 – NPFG Insured 
      
2,400 
  
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2006F, 4.250%, 
11/16 at 100.00 
A 
2,485,080 
   
5/01/33 – NPFG Insured 
      
1,575 
  
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A, 5.000%, 
5/21 at 100.00 
AA– 
1,768,694 
   
5/01/36 – AGM Insured 
      
3,335 
  
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2012A, 
9/22 at 100.00 
A 
3,737,268 
   
5.000%, 9/01/42 
      
480 
  
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2005B, 
11/15 at 100.00 
A 
509,909 
   
5.000%, 11/15/30 – AMBAC Insured 
      
10,265 
  
Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds, 
11/12 at 100.00 
AA– 
10,379,968 
   
Series 2002A, 5.000%, 11/15/30 – AGM Insured 
      
1,435 
  
New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project 
3/19 at 100.00 
AA– 
1,764,663 
   
PILOT, Series 2009A, 7.000%, 3/01/49 – AGC Insured 
      
31,585 
  
Total New York 
    
34,875,993 
   
North Carolina – 2.1% (1.5% of Total Investments) 
      
4,600 
  
North Carlolina Medical Care Commission, Health Care Facilities Revenue Bonds, Duke University 
6/22 at 100.00 
AA 
5,167,640 
   
Health System, Series 2012A, 5.000%, 6/01/42 
      
2,080 
  
North Carolina Medical Care Commission, FHA-Insured Mortgage Revenue Bonds, Betsy Johnson 
10/13 at 100.00 
AA– (4) 
2,198,165 
   
Regional Hospital Project, Series 2003, 5.375%, 10/01/24 (Pre-refunded 10/01/13) – AGM Insured 
      
2,150 
  
North Carolina Medical Care Commission, Health Care Facilities Revenue Refunding Bonds, 
10/22 at 100.00 
AA– 
2,376,288 
   
WakeMed, Series 2012A, 5.000%, 10/01/38 
      
540 
  
Oak Island, North Carolina, Enterprise System Revenue Bonds, Series 2009A, 6.000%, 6/01/34 – 
6/19 at 100.00 
AA– 
629,057 
   
AGC Insured 
      
9,370 
  
Total North Carolina 
    
10,371,150 
   
Ohio – 4.1% (2.8% of Total Investments) 
      
950 
  
Akron, Bath and Copley Joint Township Hospital District, Ohio, Hospital Revenue Bonds, 
5/22 at 100.00 
A1 
1,030,684 
   
Children’s Hospital Medical Center, Improvement & Refunding Series 2012, 5.000%, 11/15/42 
      
   
Allen County, Ohio, Hospital Facilities Revenue Bonds, Catholic Health Partners, Refunding and 
      
   
Improvement Series 2012A: 
      
770 
  
5.000%, 5/01/33 
5/22 at 100.00 
AA– 
862,308 
1,660 
  
4.000%, 5/01/33 
5/22 at 100.00 
AA– 
1,679,322 
980 
  
5.000%, 5/01/42 
5/22 at 100.00 
AA– 
1,071,258 
   
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue 
      
   
Bonds, Senior Lien, Series 2007A-2: 
      
900 
  
5.125%, 6/01/24 
6/17 at 100.00 
B 
755,379 
710 
  
5.875%, 6/01/30 
6/17 at 100.00 
B+ 
589,563 
1,465 
  
5.750%, 6/01/34 
6/17 at 100.00 
BB 
1,192,832 
2,115 
  
5.875%, 6/01/47 
6/17 at 100.00 
BB 
1,717,993 
1,870 
  
Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Children’s Hospital Project, 
5/22 at 100.00 
Aa2 
2,081,123 
   
Improvement Series 2012A, 5.000%, 11/01/42 
      
4,650 
  
Middletown City School District, Butler County, Ohio, General Obligation Bonds, Refunding 
No Opt. Call 
Aa3 
5,838,122 
   
Series 2007, 5.250%, 12/01/28 – AGM Insured 
      
1,650 
  
Ohio State Higher Educational Facilities Commission, Hospital Revenue Bonds, Cleveland Clinic 
1/22 at 100.00 
Aa2 
1,842,143 
   
Health System Obligated Group, Series 2012A, 5.000%, 1/01/38 
      
   
Southeastern Ohio Port Authority, Hosptial Facilities Revenue Bonds, Memorial Health System 
      
   
Obligated Group Project, Refunding and Improvement Series 2012: 
      
600 
  
5.750%, 12/01/32 
12/22 at 100.00 
N/R 
630,486 
420 
  
6.000%, 12/01/42 
12/22 at 100.00 
N/R 
444,499 
18,740 
  
Total Ohio 
    
19,735,712 
   
Oklahoma – 0.4% (0.3% of Total Investments) 
      
2,000 
  
Oklahoma Development Finance Authority, Revenue Bonds, Saint John Health System, Series 2007, 
2/17 at 100.00 
A 
2,097,040 
   
5.000%, 2/15/37 
      
   
Oregon – 0.7% (0.5% of Total Investments) 
      
3,000 
  
Oregon State Department of Transportation, Highway User Tax Revenue Bonds, Series 2009A, 
5/19 at 100.00 
AAA 
3,464,520 
   
5.000%, 11/15/33 
      
   
Pennsylvania – 4.8% (3.3% of Total Investments) 
      
4,500 
  
Allegheny County, Pennsylvania, Airport Revenue Refunding Bonds, Pittsburgh International 
No Opt. Call 
A– 
4,573,260 
   
Airport, Series 1997A, 5.750%, 1/01/13 – NPFG Insured (Alternative Minimum Tax) 
      
1,050 
  
Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Series 2010E, 
1/20 at 100.00 
AA– 
1,157,478 
   
5.000%, 1/01/40 – AGM Insured 
      
4,130 
  
Pennsylvania Public School Building Authority, Lease Revenue Bonds, School District of 
12/16 at 100.00 
AA 
4,312,298 
   
Philadelphia, Series 2006B, 4.500%, 6/01/32 – AGM Insured (UB) 
      
1,050 
  
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2006A, 5.000%, 12/01/26 – 
6/16 at 100.00 
Aa3 
1,180,452 
   
AMBAC Insured 
      
6,000 
  
Pennsylvania Turnpike Commission, Turnpike Subordinate Revenue Bonds, Series 2009C, 0.000%, 
6/26 at 100.00 
AA– 
6,207,480 
   
6/01/33 – AGM Insured 
      
400 
  
Philadelphia Hospitals and Higher Education Facilities Authoirty, Pennsylvania, Hospital 
7/22 at 100.00 
BBB– 
419,180 
   
Revenue Bonds, Temple University Health System Obligated Group, Series 2012A, 5.625%, 7/01/42 
      
2,000 
  
Philadelphia Municipal Authority, Pennsylvania, Lease Revenue Bonds, Series 2003B, 5.250%, 
11/13 at 100.00 
AA– 
2,113,980 
   
11/15/18 – AGM Insured 
      
2,000 
  
Reading School District, Berks County, Pennsylvania, General Obligation Bonds, Series 2005, 
1/16 at 100.00 
AA– 
2,249,240 
   
5.000%, 1/15/19 – AGM Insured (UB) 
      
1,000 
  
State Public School Building Authority, Pennsylvania, Lease Revenue Bonds, Philadelphia School 
6/13 at 100.00 
AA+ (4) 
1,039,390 
   
District, Series 2003, 5.000%, 6/01/23 (Pre-refunded 6/01/13) – AGM Insured 
      
22,130 
  
Total Pennsylvania 
    
23,252,758 
   
Puerto Rico – 0.9% (0.6% of Total Investments) 
      
1,225 
  
Puerto Rico Municipal Finance Agency, Series 2005C, 5.250%, 8/01/21 – CIFG Insured 
No Opt. Call 
AA– 
1,375,308 
8,480 
  
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Senior Series 2011C, 
No Opt. Call 
AA– 
2,009,166 
   
0.000%, 8/01/39 
      
5,000 
  
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%, 
No Opt. Call 
AA– 
973,050 
   
8/01/42 – FGIC Insured 
      
14,705 
  
Total Puerto Rico 
    
4,357,524 
   
Rhode Island – 0.2% (0.1% of Total Investments) 
      
   
Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, 
      
   
Series 2002A: 
      
90 
  
6.125%, 6/01/32 
12/12 at 100.00 
BBB+ 
90,899 
715 
  
6.250%, 6/01/42 
12/12 at 100.00 
BBB– 
725,718 
805 
  
Total Rhode Island 
    
816,617 
   
South Carolina – 2.2% (1.5% of Total Investments) 
      
1,950 
  
Greenville County School District, South Carolina, Installment Purchase Revenue Bonds, Series 
12/16 at 100.00 
AA 
2,182,577 
   
2006, 5.000%, 12/01/28 – AGM Insured 
      
   
Greenville, South Carolina, Tax Increment Revenue Improvement Bonds, Series 2003: 
      
1,000 
  
5.500%, 4/01/17 (Pre-refunded 4/01/13) – NPFG Insured 
4/13 at 100.00 
A– (4) 
1,035,460 
2,300 
  
5.000%, 4/01/21 (Pre-refunded 4/01/13) – NPFG Insured 
4/13 at 100.00 
A– (4) 
2,373,899 
1,000 
  
Scago Educational Facilities Corporation, South Carolina, Installment Purchase Revenue Bonds, 
10/15 at 100.00 
AA– 
1,116,550 
   
Spartanburg County School District 5, Series 2005, 5.000%, 4/01/21 – AGM Insured 
      
3,330 
  
Spartanburg Regional Health Services District, Inc., South Carolina, Hosptial Refunding Revenue 
4/22 at 100.00 
A1 
3,751,012 
   
Bonds, Series 2012A, 5.000%, 4/15/32 
      
9,580 
  
Total South Carolina 
    
10,459,498 
   
Tennessee – 5.3% (3.7% of Total Investments) 
      
   
Memphis, Tennessee, Sanitary Sewerage System Revenue Bonds, Series 2004: 
      
1,495 
  
5.000%, 10/01/19 – AGM Insured 
10/14 at 100.00 
AA 
1,630,611 
1,455 
  
5.000%, 10/01/20 – AGM Insured 
10/14 at 100.00 
AA 
1,586,983 
1,955 
  
5.000%, 10/01/21 – AGM Insured 
10/14 at 100.00 
AA 
2,132,338 
10,000 
  
Memphis-Shelby County Sports Authority, Tennessee, Revenue Bonds, Memphis Arena, Series 2002A, 
11/12 at 100.00 
AA– (4) 
10,123,700 
   
5.125%, 11/01/28 (Pre-refunded 11/01/12) – AMBAC Insured 
      
10,000 
  
Memphis-Shelby County Sports Authority, Tennessee, Revenue Bonds, Memphis Arena, Series 2002B, 
11/12 at 100.00 
AA– (4) 
10,123,700 
   
5.125%, 11/01/29 (Pre-refunded 11/01/12) – AMBAC Insured 
      
210 
  
Shelby County Health, Educational and Housing Facilities Board, Tennessee, Revenue Bonds, 
5/22 at 100.00 
A+ 
228,129 
   
Methodist Le Bonheur Healthcare, Series 2012, 5.000%, 5/01/42 
      
25,115 
  
Total Tennessee 
    
25,825,461 
   
Texas – 16.3% (11.4% of Total Investments) 
      
1,050 
  
Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding and Improvement 
11/12 at 100.00 
A+ 
1,054,568 
   
Bonds, Series 2001A, 5.750%, 11/01/13 – NPFG Insured (Alternative Minimum Tax) 
      
2,600 
  
Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding and Improvement 
11/21 at 100.00 
A+ 
2,898,168 
   
Bonds, Series 2012C, 5.000%, 11/01/45 – AGM Insured 
      
   
Harris County Health Facilities Development Corporation, Texas, Thermal Utility Revenue Bonds, 
      
   
TECO Project, Series 2003: 
      
2,240 
  
5.000%, 11/15/16 – NPFG Insured 
11/13 at 100.00 
AA 
2,361,408 
2,355 
  
5.000%, 11/15/17 – NPFG Insured 
11/13 at 100.00 
AA 
2,475,882 
1,545 
  
Harris County Metropolitan Transit Authority, Texas, Sales and Use Tax Revenue Bonds, Tender 
11/21 at 100.00 
AA 
2,227,087 
   
Option Bond Trust 1014, 13.503%, 11/01/41 (IF) 
      
4,080 
  
Harris County, Texas, General Obligtion Toll Road Revenue Bonds, Tender Option Bond Trust 
No Opt. Call 
AAA 
8,327,280 
   
3418, 13.992%, 8/15/27 – AGM Insured (IF) 
      
1,000 
  
Houston, Texas, First Lien Combined Utility System Revenue Bonds, Series 2004A, 5.250%, 
5/14 at 100.00 
AA 
1,073,910 
   
5/15/24 – FGIC Insured 
      
2,820 
  
North Central Texas Health Facilities Development Corporation, Texas, Revenue Bonds, 
8/22 at 100.00 
AA 
3,189,448 
   
Children’s Medical Center Dallas Project, Series 2012, 5.000%, 8/15/32 
      
3,220 
  
North Fort Bend Water Authority, Texas, Water System Revenue Bonds, Series 2011, 5.000%, 
12/21 at 100.00 
AA– 
3,560,934 
   
12/15/36 – AGM Insured 
      
   
North Texas Tollway Authority, Special Projects System Revenue Bonds, Series 2011: 
      
2,590 
  
0.000%, 9/01/43 
9/31 at 100.00 
AA 
1,831,674 
3,910 
  
0.000%, 9/01/45 
9/31 at 100.00 
AA 
3,047,454 
7,700 
  
Tarrant Regional Water District, Texas, Water Revenue Bonds, Refunding and Improvement Series 
3/22 at 100.00 
AAA 
8,744,043 
   
2012, 5.000%, 3/01/52 
      
6,835 
  
Texas Department of Housing and Community Affairs, Single Family Mortgage Bonds, Series 2002B, 
9/12 at 100.00 
AA+ 
6,843,339 
   
5.550%, 9/01/33 – NPFG Insured (Alternative Minimum Tax) 
      
   
Texas Public Finance Authority, Revenue Bonds, Texas Southern University Financing System, 
      
   
Series 2002: 
      
3,520 
  
5.125%, 11/01/20 – NPFG Insured 
11/12 at 100.00 
Baa1 
3,522,006 
3,520 
  
5.125%, 11/01/21 – NPFG Insured 
11/12 at 100.00 
Baa1 
3,521,443 
   
Texas Student Housing Authority, Revenue Bonds, Austin Project, Senior Series 2001A: 
      
9,000 
  
5.375%, 1/01/23 – NPFG Insured 
1/14 at 100.00 
Baa2 
8,744,670 
11,665 
  
5.500%, 1/01/33 – NPFG Insured 
1/13 at 101.00 
Baa2 
10,738,566 
5,000 
  
Texas Water Development Board, Senior Lien State Revolving Fund Revenue Bonds, Series 1999B, 
1/13 at 100.00 
AAA 
5,020,500 
   
5.250%, 7/15/17 
      
74,650 
  
Total Texas 
    
79,182,380 
   
Utah – 1.4% (1.0% of Total Investments) 
      
4,865 
  
Utah Transit Authority, Sales Tax Revenue Bonds, Series 2008, Trust 1193, 13.250%, 12/15/15– 
No Opt. Call 
AAA 
6,847,974 
   
AGM Insured (IF) 
      
   
Virginia – 0.4% (0.3% of Total Investments) 
      
1,000 
  
Norfolk Economic Development Authority, Virginia, Health Care Facilities Revenue Bonds, 
11/22 at 100.00 
AA 
1,128,670 
   
Sentara Healthcare, Refunding Series 2012B, 5.000%, 11/01/43 
      
700 
  
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, 95 Express Lanes LLC 
1/22 at 100.00 
BBB– 
739,809 
   
Project, Series 2012, 5.000%, 1/01/40 (Alternative Minimum Tax) 
      
1,700 
  
Total Virginia 
    
1,868,479 
   
Washington – 11.7% (8.2% of Total Investments) 
      
5,265 
  
Energy Northwest, Washington Public Power, Nine Canyon Wind Project Revenue Bonds, Series 
7/16 at 100.00 
A 
5,506,084 
   
2006A, 4.500%, 7/01/30 – AMBAC Insured 
      
5,000 
  
King County, Washington, Sewer Revenue Bonds, Refunding Series 2012, 5.000%, 1/01/52 
1/22 at 100.00 
AA+ 
5,599,250 
2,340 
  
Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Refunding Series 2012A, 
8/22 at 100.00 
Aa3 
2,767,261 
   
5.000%, 8/01/31 
      
2,500 
  
Port of Seattle, Washington, Revenue Refunding Bonds, Series 2002D, 5.750%, 11/01/15 
11/12 at 100.00 
Aa2 (4) 
2,531,275 
   
(Pre-refunded 11/01/12) – FGIC Insured (Alternative Minimum Tax) 
      
2,200 
  
Snohomish County School District 2, Everett, Washington, General Obligation Bonds, Series 
12/13 at 100.00 
AA+ (4) 
2,330,504 
   
2003B, 5.000%, 6/01/17 (Pre-refunded 12/01/13) – AGM Insured 
      
3,255 
  
Thurston and Pierce Counties School District, Washington, General Obligation Bonds, Yelm 
6/13 at 100.00 
Aa1 (4) 
3,392,687 
   
Community Schools, Series 2003, 5.250%, 12/01/16 (Pre-refunded 6/01/13) – AGM Insured 
      
10,000 
  
University of Washington, General Revenue Bonds, Refunding Series 2007, 5.000%, 6/01/37 – 
6/17 at 100.00 
Aaa 
11,387,700 
   
AMBAC Insured (UB) 
      
750 
  
Washington Health Care Facilities Authority, Revenue Bonds, Seattle Children’s Hospital, 
No Opt. Call 
AA 
861,075 
   
Refunding Series 2012B, 5.000%, 10/01/30 
      
1,925 
  
Washington Health Care Facilities Authority, Revenue Bonds, Seattle Children’s Hospital, 
No Opt. Call 
AA 
2,131,052 
   
Series 2012A, 5.000%, 10/01/42 
      
15,000 
  
Washington State Health Care Facilities Authority, Revenue Bonds, Harrison Memorial Hospital, 
8/13 at 102.00 
N/R 
15,195,598 
   
Series 1998, 5.000%, 8/15/28 – AMBAC Insured 
      
   
Washington State Tobacco Settlement Authority, Tobacco Settlement Asset-Backed Revenue Bonds, 
      
   
Series 2002: 
      
195 
  
6.500%, 6/01/26 
6/13 at 100.00 
A3 
202,962 
230 
  
6.625%, 6/01/32 
6/13 at 100.00 
Baa1 
238,844 
3,335 
  
Washington State, General Obligation Bonds, Series 2009, Trust 1212, 13.266%, 7/01/14 – 
No Opt. Call 
AA+ 
4,494,379 
   
AGM Insured (IF) 
      
51,995 
  
Total Washington 
    
56,638,671 
   
Wisconsin – 0.5% (0.4% of Total Investments) 
      
2,220 
  
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Gundersen Lutheran, 
10/21 at 100.00 
A+ 
2,443,488 
   
Series 2011A, 5.250%, 10/15/39 
      
$ 723,398 
  
Total Municipal Bonds (cost $625,130,874) 
    
685,197,043 
Shares 
  
Description (1) 
    
Value 
   
Investment Companies – 0.3% (0.2% of Total Investments) 
      
8,134 
  
BlackRock MuniHoldings Fund Inc. 
    
$        152,106 
13,600 
  
BlackRock MuniEnhanced Fund Inc. 
    
171,360 
7,920 
  
Dreyfus Strategic Municipal Fund 
    
77,537 
3,500 
  
DWS Municipal Income Trust 
    
53,620 
9,500 
  
Invesco Advantage Municipal Income Fund II 
    
131,575 
9,668 
  
Invesco Quality Municipal Income Trust 
    
142,506 
28,980 
  
Invesco Van Kampen Investment Grade Municipal Trust 
    
455,276 
26,280 
  
PIMCO Municipal Income Fund II 
    
348,210 
   
Total Investment Companies (cost $1,353,712) 
    
1,532,190 
Principal 
    
Optional Call 
    
Amount (000) 
  
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
   
Short-Term Investments –1.6% (1.1% of Total Investments) 
      
   
Missouri – 1.6% (1.1% of Total Investments) 
      
$    7,975 
  
St. Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Tender 
No Opt. Call 
A-2 
$     7,975,000 
   
Option Bond Trust DCL-017, 0.760%, 7/01/22 (6) 
      
$    7,975 
  
Total Short-Term Investments (cost $7,975,000) 
    
7,975,000 
   
Total Investments (cost $634,459,586) – 143.4% 
    
694,704,233 
   
Floating Rate Obligations – (4.5)% 
    
(21,558,334) 
   
MuniFund Term Preferred Shares, at Liquidation Value – (22.3)% (7) 
    
(108,000,000) 
   
Variable Rate MuniFund Term Preferred Shares, at Liquidation Value – (19.1)% (7) 
    
(92,500,000) 
   
Other Assets Less Liabilities – 2.5% 
    
11,778,896 
   
Net Assets Applicable to Common Shares – 100% 
    
$ 484,424,795 
 
 

 
Fair Value Measurements
 
Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
 
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
 
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
Level 3 – Prices are determined using 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 risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
 
         
 
Level 1 
Level 2 
Level 3 
Total 
Long-Term Investments: 
        
Municipal Bonds 
$ — 
$685,197,043 
$ — 
$685,197,043 
Investment Companies 
1,532,190 
— 
— 
1,532,190 
Short-Term Investments: 
        
Municipal Bonds 
— 
7,975,000 
— 
7,975,000 
Total 
$1,532,190 
$693,172,043 
$ — 
$694,704,233 
 
 
The Nuveen funds’ Board of Directors/Trustees is responsible for the valuation process and has delegated the oversight of the daily valuation process to the Adviser’s Valuation Committee. The V aluation Committee, pursuant to the valuation policies and procedures adopted by the Board of Directors/Trustees, is responsible for making fair value determinations, evaluating the effectiveness of the funds’ pricing policies, and reporting to the Board of Directors/Trustees. The Valuation Committee is aided in its efforts by the Adviser’s dedicated Securities Valuation Team, which is responsible for administering the daily valuation process and applying fair value methodologies as approved by the Valuation Committee. When determining the reliability of independent pricing services for investments owned by the funds, the Valuation Committee, among other things, conducts due diligence reviews of the pricing services and monitors the quality of security prices received through various testing reports conducted by the Securities Valuation Team.
 
The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.
 
For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors/Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such testing and fair valuation occurrences are reported to the Board of Directors/Trustees.
 
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 on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
 
At July 31, 2012, the cost of investments was $620,183,307.
 
Gross unrealized appreciation and gross unrealized depreciation of investments at July 31, 2012, were as follows:
 
   
Gross unrealized: 
  
Appreciation 
$ 63,387,554 
Depreciation 
(10,425,413)
Net unrealized appreciation (depreciation) of investments 
$ 52,962,141 
 
 
     
(1) 
  
All percentages shown in the Portfolio of Investments are based on net assets applicable to Common 
   
shares unless otherwise noted. 
(2) 
  
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. 
   
There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities 
   
may be subject to periodic principal paydowns. 
(3) 
  
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, 
   
Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s 
   
or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated 
   
by any of these national rating agencies. 
(4) 
  
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, 
   
which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or 
   
agency securities are regarded as having an implied rating equal to the rating of such securities. 
(5) 
  
Investment, or portion of investment, has been pledged to collateralize the net payment obligations of 
   
investments in inverse floating rate transactions. 
(6) 
  
Investment has a maturity of more than one year, but has variable rate and demand features which 
   
qualify it as a short-term investment. The rate disclosed is that in effect at the end of the reporting 
   
period. This rate changes periodically based on market conditions or a specified market index. 
(7) 
  
MuniFund Term Preferred Shares and Variable Rate MuniFund Term Preferred Shares, at Liquidation 
   
Value as a percentage of Total Investments are 15.5% and 13.3%, respectively. 
N/R 
  
Not rated. 
WI/DD 
  
Investment, or portion of investment, purchased on a when-issued or delayed delivery basis. 
(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 Dividend Advantage Municipal Income Fund 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date:         September 28, 2012        
 
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 28, 2012        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date:         September 28, 2012