Portfolio of Investments (Unaudited)
|
|||||
Nuveen Select Tax-Free Income Portfolio (NXP)
|
|||||
June 30, 2014
|
|||||
Principal
|
Optional Call
|
||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|
LONG-TERM INVESTMENTS – 95.9%
|
|||||
MUNICIPAL BONDS – 95.9%
|
|||||
Alaska – 0.8%
|
|||||
$ 2,675
|
Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds,
|
9/14 at 100.00
|
B2
|
$ 2,022,755
|
|
Series 2006A, 5.000%, 6/01/46
|
|||||
Arizona – 1.4%
|
|||||
2,500
|
Arizona Health Facilities Authority, Hospital Revenue Bonds, Catholic Healthcare West, Series
|
3/21 at 100.00
|
A
|
2,670,650
|
|
2011B-1&2, 5.250%, 3/01/39
|
|||||
625
|
Pima County Industrial Development Authority, Arizona, Revenue Bonds, Tucson Electric Power
|
10/20 at 100.00
|
Baa1
|
656,163
|
|
Company, Series 2010A, 5.250%, 10/01/40
|
|||||
3,125
|
Total Arizona
|
3,326,813
|
|||
Arkansas – 0.5%
|
|||||
5,915
|
Arkansas Development Finance Authority, Tobacco Settlement Revenue Bonds, Arkansas Cancer
|
No Opt. Call
|
Aa2
|
1,238,483
|
|
Research Center Project, Series 2006, 0.000%, 7/01/46 – AMBAC Insured
|
|||||
California – 16.5%
|
|||||
2,000
|
Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Subordinate
|
10/17 at 100.00
|
BBB+
|
2,156,640
|
|
Lien Series 2004A, 5.450%, 10/01/25 – AMBAC Insured
|
|||||
4,195
|
Anaheim City School District, Orange County, California, General Obligation Bonds, Election
|
No Opt. Call
|
AA
|
1,933,727
|
|
2002 Series 2007, 0.000%, 8/01/31 – AGM Insured
|
|||||
2,340
|
Anaheim Public Financing Authority, California, Subordinate Lease Revenue Bonds, Public
|
No Opt. Call
|
AA
|
1,068,023
|
|
Improvement Project, Series 1997C, 0.000%, 9/01/30 – AGM Insured
|
|||||
3,000
|
Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series
|
4/23 at 100.00
|
A+
|
3,302,130
|
|
2013S-4, 5.000%, 4/01/38
|
|||||
2,310
|
California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System,
|
7/23 at 100.00
|
AA–
|
2,542,802
|
|
Series 2013A, 5.000%, 7/01/33
|
|||||
1,630
|
California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series
|
11/23 at 100.00
|
A1
|
1,796,586
|
|
2013I, 5.000%, 11/01/38
|
|||||
895
|
California Statewide Community Development Authority, Revenue Bonds, Methodist Hospital
|
8/19 at 100.00
|
Aa2
|
1,072,675
|
|
Project, Series 2009, 6.750%, 2/01/38
|
|||||
3,790
|
Coast Community College District, Orange County, California, General Obligation Bonds, Series
|
8/16 at 33.78
|
Aa1
|
1,189,226
|
|
2006C, 0.000%, 8/01/36 – AGM Insured
|
|||||
2,645
|
Cypress Elementary School District, Orange County, California, General Obligation Bonds,
|
No Opt. Call
|
AA
|
1,025,308
|
|
Series 2009A, 0.000%, 5/01/34 – AGM Insured
|
|||||
2,130
|
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement
|
No Opt. Call
|
A1
|
1,242,493
|
|
Asset-Backed Revenue Bonds, Series 2005A, 0.000%, 6/01/28 – AMBAC Insured
|
|||||
1,500
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
|
6/17 at 100.00
|
B
|
1,336,920
|
|
Bonds, Series 2007A-1, 4.500%, 6/01/27
|
|||||
2,350
|
Golden Valley Unified School District, Madera County, California, General Obligation Bonds,
|
8/17 at 56.07
|
AA
|
1,138,199
|
|
Election 2006 Series 2007A, 0.000%, 8/01/29 – AGM Insured
|
|||||
3,030
|
Grossmont Union High School District, San Diego County, California, General Obligation Bonds,
|
No Opt. Call
|
Aa3
|
2,082,610
|
|
Series 2006, 0.000%, 8/01/25 – NPFG Insured
|
|||||
1,320
|
Kaweah Delta Health Care District, California, Revenue Bonds, Series 2004, 5.250%, 8/01/25
|
8/14 at 100.00
|
Aa3(4)
|
1,325,861
|
|
(Pre-refunded 8/01/14) – NPFG Insured
|
|||||
1,000
|
Moreno Valley Unified School District, Riverside County, California, General Obligation Bonds,
|
No Opt. Call
|
AA–
|
697,160
|
|
Series 2007, 0.000%, 8/01/23 – NPFG Insured
|
|||||
1,160
|
Mount San Antonio Community College District, Los Angeles County, California, General
|
8/35 at 100.00
|
AA
|
670,190
|
|
Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/43
|
|||||
5,395
|
Napa Valley Community College District, Napa and Sonoma Counties, California, General
|
8/17 at 46.57
|
Aa2
|
2,210,709
|
|
Obligation Bonds, Election 2002 Series 2007C, 0.000%, 8/01/32 – NPFG Insured
|
|||||
3,000
|
New Haven Unified School District, Alameda County, California, General Obligation Bonds,
|
No Opt. Call
|
AA–
|
1,445,610
|
|
Series 2004A, 0.000%, 8/01/28 – NPFG Insured
|
|||||
590
|
Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2009,
|
11/19 at 100.00
|
Ba1
|
617,824
|
|
6.750%, 11/01/39
|
|||||
4,390
|
Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community
|
No Opt. Call
|
A
|
2,087,094
|
|
Development Project, Series 1999, 0.000%, 8/01/29 – AMBAC Insured
|
|||||
1,700
|
Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of
|
No Opt. Call
|
AA–
|
616,692
|
|
Participation, Series 2006, 0.000%, 10/01/34 – FGIC Insured
|
|||||
8,000
|
Poway Unified School District, San Diego County, California, General Obligation Bonds, School
|
No Opt. Call
|
Aa2
|
3,383,440
|
|
Facilities Improvement District 2007-1, Series 2009A, 0.000%, 8/01/33
|
|||||
2,930
|
San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue
|
No Opt. Call
|
AA–
|
1,507,426
|
|
Refunding Bonds, Series 1997A, 0.000%, 1/15/27 – NPFG Insured
|
|||||
1,250
|
San Jose, California, Airport Revenue Bonds, Series 2004D, 5.000%, 3/01/28 – NPFG Insured
|
9/14 at 100.00
|
AA–
|
1,254,125
|
|
2,110
|
Sierra Sands Unified School District, Kern County, California, General Obligation Bonds,
|
No Opt. Call
|
AA
|
1,149,781
|
|
Election of 2006, Series 2006A, 0.000%, 11/01/28 – FGIC Insured
|
|||||
1,195
|
Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed
|
6/15 at 100.00
|
B–
|
971,917
|
|
Bonds, Series 2005A-1, 5.500%, 6/01/45
|
|||||
1,150
|
Woodside Elementary School District, San Mateo County, California, General Obligation Bonds,
|
No Opt. Call
|
AAA
|
575,380
|
|
Series 2007, 0.000%, 10/01/30 – AMBAC Insured
|
|||||
67,005
|
Total California
|
40,400,548
|
|||
Colorado – 3.9%
|
|||||
1,780
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives,
|
1/23 at 100.00
|
A+
|
1,944,401
|
|
Series 2013A, 5.250%, 1/01/45
|
|||||
1,000
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Sisters of Charity of
|
1/20 at 100.00
|
AA–
|
1,056,290
|
|
Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/40
|
|||||
1,935
|
Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B,
|
11/23 at 100.00
|
A
|
2,106,267
|
|
5.000%, 11/15/43
|
|||||
160
|
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B, 0.000%,
|
No Opt. Call
|
AA–
|
83,542
|
|
9/01/29 – NPFG Insured
|
|||||
2,000
|
E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004B, 0.000%, 9/01/32 –
|
9/20 at 50.83
|
AA–
|
756,320
|
|
NPFG Insured
|
|||||
12,500
|
E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2006A, 0.000%, 9/01/38 –
|
9/26 at 54.77
|
AA–
|
3,648,875
|
|
NPFG Insured
|
|||||
19,375
|
Total Colorado
|
9,595,695
|
|||
Florida – 3.1%
|
|||||
2,000
|
Halifax Hospital Medical Center, Florida, Revenue Bonds, Series 2006, 5.375%, 6/01/46
|
6/16 at 100.00
|
BBB+
|
2,017,080
|
|
2,400
|
JEA St. Johns River Power Park System, Florida, Revenue Bonds, 2012-Issue 2 Series 25,
|
No Opt. Call
|
Aa2
|
2,423,616
|
|
4.000%, 10/01/14
|
|||||
1,000
|
Miami-Dade County, Florida, General Obligation Bonds, Build Better Communities Program, Series
|
7/15 at 100.00
|
AA
|
1,046,150
|
|
2005, 5.000%, 7/01/24 – NPFG Insured
|
|||||
2,000
|
Volusia County, Florida, Tax Revenue Bonds, Tourist Development, Series 2004, 5.000%, 12/01/34
|
12/14 at 100.00
|
A2(4)
|
2,040,900
|
|
(Pre-refunded 12/01/14) – AGM Insured
|
|||||
7,400
|
Total Florida
|
7,527,746
|
|||
Georgia – 0.5%
|
|||||
2,000
|
Franklin County Industrial Building Authority, Georgia,Revenue Bonds, Ty Cobb Regional Medical
|
12/20 at 100.00
|
N/R
|
1,169,477
|
|
Center Project, Series 2010, 8.125%, 12/01/45, (5)
|
|||||
Illinois – 10.4%
|
|||||
Board of Trustees of Southern Illinois University, Housing and Auxiliary Facilities System
|
|||||
Revenue Bonds, Series 1999A:
|
|||||
2,465
|
0.000%, 4/01/20 – NPFG Insured
|
No Opt. Call
|
AA–
|
2,037,323
|
|
2,000
|
0.000%, 4/01/23 – NPFG Insured
|
No Opt. Call
|
AA–
|
1,399,660
|
|
735
|
Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues Series
|
12/21 at 100.00
|
A+
|
741,086
|
|
2011A, 5.000%, 12/01/41
|
|||||
1,050
|
Illinois Finance Authority, Revenue Bonds, Loyola University of Chicago, Tender Option Bond
|
No Opt. Call
|
AA+
|
1,216,142
|
|
Trust 1137, 9.406%, 7/01/15 (IF)
|
|||||
4,000
|
Illinois Finance Authority, Revenue Bonds, Northwestern Memorial Hospital, Series 2004A,
|
8/14 at 100.00
|
N/R(4)
|
4,026,880
|
|
5.500%, 8/15/43 (Pre-refunded 8/15/14)
|
|||||
260
|
Illinois Finance Authority, Revenue Bonds, Rehabilitation Institute of Chicago, Series 2013A,
|
7/23 at 100.00
|
A–
|
289,219
|
|
6.000%, 7/01/43
|
|||||
1,000
|
Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series
|
8/19 at 100.00
|
BBB+
|
1,119,200
|
|
2009, 6.875%, 8/15/38
|
|||||
2,100
|
Illinois Finance Authority, Revenue Refunding Bonds, Silver Cross Hospital and Medical
|
8/18 at 100.00
|
BBB+
|
2,187,759
|
|
Centers, Series 2008A, 5.500%, 8/15/30
|
|||||
2,190
|
Illinois State, General Obligation Bonds, Refunding Series 2012, 5.000%, 8/01/23
|
No Opt. Call
|
A–
|
2,452,187
|
|
1,000
|
Kendall, Kane, and Will Counties Community Unit School District 308 Oswego,Illinois, General
|
No Opt. Call
|
Aa2
|
705,100
|
|
Obligation Bonds, Series 2008, 0.000%, 2/01/24 – AGM Insured
|
|||||
1,990
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion
|
No Opt. Call
|
AA–
|
1,907,375
|
|
Project, Series 1993A, 0.010%, 6/15/17 – FGIC Insured
|
|||||
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion
|
|||||
Project, Series 2002A:
|
|||||
1,720
|
0.000%, 12/15/29 – NPFG Insured
|
No Opt. Call
|
AAA
|
883,014
|
|
810
|
0.000%, 6/15/30 – NPFG Insured
|
No Opt. Call
|
AAA
|
396,924
|
|
6,070
|
0.000%, 12/15/31 – NPFG Insured
|
No Opt. Call
|
AAA
|
2,743,883
|
|
5,000
|
0.000%, 12/15/36 – NPFG Insured
|
No Opt. Call
|
AAA
|
1,671,100
|
|
1,300
|
Schaumburg, Illinois, General Obligation Bonds, Series 2004B, 5.250%, 12/01/34 (Pre-refunded
|
12/14 at 100.00
|
AAA
|
1,327,989
|
|
12/01/14) – FGIC Insured (6)
|
|||||
310
|
University of Illinois, Health Services Facilities System Revenue Bonds, Series 2013,
|
10/23 at 100.00
|
A
|
346,468
|
|
6.000%, 10/01/42
|
|||||
34,000
|
Total Illinois
|
25,451,309
|
|||
Indiana – 1.0%
|
|||||
670
|
Indiana Health Facility Financing Authority, Hospital Revenue Refunding Bonds, Columbus
|
No Opt. Call
|
AA
|
692,137
|
|
Regional Hospital, Series 1993, 7.000%, 8/15/15 – AGM Insured
|
|||||
1,000
|
Indiana Health Facility Financing Authority, Revenue Bonds, Community Foundation of Northwest
|
3/17 at 100.00
|
A
|
1,053,630
|
|
Indiana, Series 2007, 5.500%, 3/01/37
|
|||||
750
|
West Clark 2000 School Building Corporation, Clark County, Indiana, First Mortgage Bonds,
|
1/15 at 100.00
|
AA+
|
769,028
|
|
Series 2005, 5.000%, 7/15/22 – NPFG Insured
|
|||||
2,420
|
Total Indiana
|
2,514,795
|
|||
Iowa – 2.5%
|
|||||
1,665
|
Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company
|
No Opt. Call
|
BB–
|
1,753,645
|
|
Project, Series 2013, 5.000%, 12/01/19
|
|||||
1,000
|
Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C,
|
6/15 at 100.00
|
B+
|
852,010
|
|
5.375%, 6/01/38
|
|||||
4,000
|
Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B,
|
6/17 at 100.00
|
B+
|
3,609,480
|
|
5.600%, 6/01/34
|
|||||
6,665
|
Total Iowa
|
6,215,135
|
|||
Kansas – 0.2%
|
|||||
500
|
Lawrence, Kansas, Hospital Revenue Bonds, Lawrence Memorial Hospital, Refunding Series 2006,
|
7/16 at 100.00
|
A1
|
508,535
|
|
4.875%, 7/01/36
|
|||||
Kentucky – 1.1%
|
|||||
2,500
|
Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Baptist Healthcare
|
8/21 at 100.00
|
A+
|
2,682,100
|
|
System Obligated Group, Series 2011, 5.250%, 8/15/46
|
|||||
Massachusetts – 1.0%
|
|||||
500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc.,
|
7/18 at 100.00
|
A–
|
524,925
|
|
Series 2008E-1 &2, 5.000%, 7/01/28
|
|||||
1,835
|
Massachusetts Housing Finance Agency, Housing Bonds, Series 2009F, 5.700%, 6/01/40
|
12/18 at 100.00
|
AA–
|
1,910,345
|
|
2,335
|
Total Massachusetts
|
2,435,270
|
|||
Michigan – 3.8%
|
|||||
355
|
Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds,
|
7/22 at 100.00
|
BB+
|
353,580
|
|
Refunding Senior Lien Series 2012A, 5.250%, 7/01/39
|
|||||
1,500
|
Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2001E, 5.750%,
|
7/18 at 100.00
|
AA+
|
1,586,040
|
|
7/01/31 – BHAC Insured
|
|||||
2,500
|
Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2006B, 5.000%,
|
7/16 at 100.00
|
AA–
|
2,505,425
|
|
7/01/33 – FGIC Insured
|
|||||
2,075
|
Detroit, Michigan, Water Supply System Senior Lien Revenue Bonds, Series 2004A, 4.500%,
|
7/16 at 100.00
|
AA–
|
2,018,809
|
|
7/01/25 – NPFG Insured
|
|||||
2,905
|
Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County
|
12/15 at 100.00
|
AA–
|
2,933,208
|
|
Airport, Series 2005, 5.000%, 12/01/34 – NPFG Insured (Alternative Minimum Tax)
|
|||||
9,335
|
Total Michigan
|
9,397,062
|
|||
Missouri – 2.4%
|
|||||
360
|
Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Mass Transit Sales
|
10/18 at 100.00
|
AA+
|
405,220
|
|
Tax Appropriation Bonds, Refunding Combined Lien Series 2013A, 5.000%, 10/01/28
|
|||||
Kansas City Municipal Assistance Corporation, Missouri, Leasehold Revenue Bonds, Series 2004B-1:
|
|||||
1,165
|
0.000%, 4/15/23 – AMBAC Insured
|
No Opt. Call
|
AA
|
904,914
|
|
5,000
|
0.000%, 4/15/30 – AMBAC Insured
|
No Opt. Call
|
AA–
|
2,569,650
|
|
2,000
|
Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds,
|
11/23 at 100.00
|
A2
|
2,143,680
|
|
CoxHealth, Series 2013A, 5.000%, 11/15/38
|
|||||
8,525
|
Total Missouri
|
6,023,464
|
|||
Nevada – 2.4%
|
|||||
750
|
Clark County, Nevada, Airport Revenue Bonds, Tender Option Bond Trust Series 11823, 20.654%,
|
No Opt. Call
|
A+
|
1,236,780
|
|
1/01/18 (IF)
|
|||||
1,250
|
Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran
|
1/20 at 100.00
|
A+
|
1,351,800
|
|
International Airport, Series 2010A, 5.250%, 7/01/42
|
|||||
1,500
|
Las Vegas Redevelopment Agency, Nevada, Tax Increment Revenue Bonds, Series 2009A,
|
6/19 at 100.00
|
BBB–
|
1,730,040
|
|
8.000%, 6/15/30
|
|||||
1,600
|
Las Vegas Valley Water District, Nevada, General Obligation Bonds, Series 2005A, 5.000%,
|
6/15 at 100.00
|
AA+
|
1,669,840
|
|
6/01/18 – FGIC Insured
|
|||||
5,100
|
Total Nevada
|
5,988,460
|
|||
New Jersey – 8.9%
|
|||||
940
|
New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge
|
1/24 at 100.00
|
AA
|
1,014,429
|
|
Replacement Project, Series 2013, 5.125%, 1/01/39 – AGM Insured (Alternative Minimum Tax)
|
|||||
2,550
|
New Jersey Economic Development Authority, Revenue Bonds, Motor Vehicle Surcharge, Series
|
7/14 at 100.00
|
AA–
|
2,577,515
|
|
2004A, 5.250%, 7/01/33 – NPFG Insured
|
|||||
3,200
|
New Jersey Economic Development Authority, School Facilities Construction Financing Program
|
No Opt. Call
|
AAA
|
3,271,328
|
|
Bonds, Series 2009Z, 5.000%, 12/15/14 (ETM)
|
|||||
35,000
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2006C,
|
No Opt. Call
|
AA
|
13,000,400
|
|
0.000%, 12/15/34 – AGM Insured
|
|||||
2,500
|
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds,
|
6/17 at 100.00
|
B2
|
1,873,450
|
|
Series 2007-1A, 5.000%, 6/01/41
|
|||||
44,190
|
Total New Jersey
|
21,737,122
|
|||
New Mexico – 2.0%
|
|||||
1,000
|
New Mexico Mortgage Finance Authority, Multifamily Housing Revenue Bonds, St Anthony, Series
|
9/17 at 100.00
|
N/R
|
1,008,920
|
|
2007A, 5.250%, 9/01/42 (Alternative Minimum Tax)
|
|||||
4,000
|
University of New Mexico, FHA-Insured Hospital Mortgage Revenue Bonds, University of Mexico
|
7/14 at 100.00
|
AA
|
4,005,880
|
|
Hospital Project, Series 2004, 4.625%, 7/01/25 – AGM Insured
|
|||||
5,000
|
Total New Mexico
|
5,014,800
|
|||
New York – 4.0%
|
|||||
500
|
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series
|
2/21 at 100.00
|
A
|
542,155
|
|
2011A, 5.250%, 2/15/47
|
|||||
1,810
|
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 5.000%,
|
2/17 at 100.00
|
A
|
1,878,020
|
|
2/15/47 – FGIC Insured
|
|||||
3,750
|
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2004A,
|
9/14 at 100.00
|
AA+
|
3,778,238
|
|
5.000%, 9/01/34 – BHAC Insured
|
|||||
2,500
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal
|
5/17 at 100.00
|
AAA
|
2,744,925
|
|
Series 2007B, 4.750%, 11/01/27
|
|||||
780
|
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air
|
12/20 at 100.00
|
BBB
|
891,704
|
|
Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42
|
|||||
9,340
|
Total New York
|
9,835,042
|
|||
North Carolina – 0.5%
|
|||||
1,000
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2008C,
|
1/19 at 100.00
|
A–
|
1,173,880
|
|
6.750%, 1/01/24
|
|||||
Ohio – 2.7%
|
|||||
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
|
|||||
Bonds, Senior Lien, Series 2007A-2:
|
|||||
1,670
|
6.000%, 6/01/42
|
6/17 at 100.00
|
B+
|
1,337,904
|
|
1,000
|
6.500%, 6/01/47
|
6/17 at 100.00
|
B
|
857,030
|
|
1,975
|
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
|
6/22 at 100.00
|
B
|
1,659,494
|
|
Bonds, Senior Lien, Series 2007A-3, 6.250%, 6/01/37
|
|||||
1,500
|
Ohio Department of Administrative Services, Certificates of Participation, Administrative
|
No Opt. Call
|
AA
|
1,513,110
|
|
Knowledge System Project, Series 2005A, 5.250%, 9/01/14 – NPFG Insured
|
|||||
1,105
|
Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Project, Junior Lien Series
|
2/23 at 100.00
|
A+
|
1,195,754
|
|
2013A-1, 5.000%, 2/15/48
|
|||||
7,250
|
Total Ohio
|
6,563,292
|
|||
Oklahoma – 0.4%
|
|||||
1,000
|
Norman Regional Hospital Authority, Oklahoma, Hospital Revenue Bonds, Series 2005,
|
9/16 at 100.00
|
BBB–
|
1,021,770
|
|
5.375%, 9/01/36
|
|||||
Pennsylvania – 0.9%
|
|||||
1,490
|
Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Subordinate Special Revenue
|
12/20 at 100.00
|
AA
|
1,492,965
|
|
Bonds, Series 2010B, 0.000%, 12/01/30
|
|||||
700
|
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2004A, 5.500%, 12/01/31 –
|
12/14 at 100.00
|
A+
|
713,062
|
|
AMBAC Insured
|
|||||
2,190
|
Total Pennsylvania
|
2,206,027
|
|||
Puerto Rico – 1.6%
|
|||||
1,000
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series
|
8/19 at 100.00
|
A+
|
832,260
|
|
2009A, 6.000%, 8/01/42
|
|||||
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A:
|
|||||
17,500
|
0.000%, 8/01/41 – NPFG Insured
|
No Opt. Call
|
AA–
|
2,998,625
|
|
1,000
|
0.000%, 8/01/43 – NPFG Insured
|
No Opt. Call
|
AA–
|
149,580
|
|
19,500
|
Total Puerto Rico
|
3,980,465
|
|||
Rhode Island – 0.5%
|
|||||
1,125
|
Rhode Island Economic Development Corporation, Airport Revenue Bonds, Refunding Series 2005A,
|
7/15 at 100.00
|
AA–
|
1,130,085
|
|
4.625%, 7/01/26 – NPFG Insured (Alternative Minimum Tax)
|
|||||
South Carolina – 1.7%
|
|||||
1,250
|
Dorchester County School District 2, South Carolina, Installment Purchase Revenue Bonds,
|
12/14 at 100.00
|
AA–(4)
|
1,276,875
|
|
GROWTH, Series 2004, 5.250%, 12/01/20 (Pre-refunded 12/01/14)
|
|||||
2,710
|
Piedmont Municipal Power Agency, South Carolina, Electric Revenue Refunding Bonds, Series
|
No Opt. Call
|
A3
|
2,793,305
|
|
1991A, 6.500%, 1/01/15 – NPFG Insured
|
|||||
3,960
|
Total South Carolina
|
4,070,180
|
|||
Texas – 11.0%
|
|||||
1,000
|
Board of Regents, University of Texas System, Financing System Revenue Bonds, Series 2006D,
|
No Opt. Call
|
AAA
|
1,004,940
|
|
4.000%, 8/15/14
|
|||||
1,000
|
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2005, 5.000%,
|
1/15 at 100.00
|
AA–(4)
|
1,024,390
|
|
1/01/35 (Pre-refunded 1/01/15) – FGIC Insured
|
|||||
250
|
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011,
|
1/21 at 100.00
|
Baa2
|
279,290
|
|
6.000%, 1/01/41
|
|||||
3,000
|
Decatur Hospital Authority, Texas, Revenue Bonds, Wise Regional Health System, Series 2004A,
|
9/14 at 100.00
|
N/R(4)
|
3,034,830
|
|
7.125%, 9/01/34 (Pre-refunded 9/01/14) (WI/DD, Settling 7/01/14)
|
|||||
5,565
|
Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, First Tier Series
|
10/23 at 100.00
|
BBB+
|
6,116,770
|
|
2013A, 5.500%, 4/01/53
|
|||||
3,415
|
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H,
|
No Opt. Call
|
AA–
|
1,472,207
|
|
0.000%, 11/15/30 – NPFG Insured
|
|||||
4,165
|
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Third Lien Series 2004A-3,
|
11/24 at 52.47
|
AA–
|
1,180,778
|
|
0.000%, 11/15/35 – NPFG Insured
|
|||||
4,015
|
Harris County-Houston Sports Authority, Texas, Special Revenue Bonds, Refunding Senior Lien
|
11/30 at 61.17
|
AA–
|
1,018,927
|
|
Series 2001A, 0.000%, 11/15/38 – NPFG Insured
|
|||||
1,780
|
Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation
|
8/16 at 35.23
|
AAA
|
575,118
|
|
Bonds, Series 2007, 0.000%, 8/15/37
|
|||||
2,260
|
Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds,
|
11/20 at 100.00
|
BBB–
|
2,423,149
|
|
Southwest Airlines Company, Series 2010, 5.250%, 11/01/40
|
|||||
2,000
|
North Texas Tollway Authority, First Tier System Revenue Refunding Bonds, Capital Appreciation
|
1/25 at 100.00
|
A2
|
2,387,380
|
|
Series 2008I, 0.000%, 1/01/43
|
|||||
5,000
|
Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series
|
No Opt. Call
|
A3
|
5,468,300
|
|
2012, 5.000%, 12/15/26
|
|||||
830
|
Wood County Central Hospital District, Texas, Revenue Bonds, East Texas Medical Center Quitman
|
11/21 at 100.00
|
Baa2
|
911,896
|
|
Project, Series 2011, 6.000%, 11/01/41
|
|||||
34,280
|
Total Texas
|
26,897,975
|
|||
Virginia – 4.4%
|
|||||
1,000
|
Fairfax County Economic Development Authority, Virginia, Residential Care Facilities Mortgage
|
10/17 at 100.00
|
BBB
|
1,027,480
|
|
Revenue Bonds, Goodwin House, Inc., Series 2007A, 5.125%, 10/01/42
|
|||||
1,000
|
Henrico County Economic Development Authority, Virginia, Residential Care Facility Revenue
|
9/14 at 100.00
|
BBB+
|
1,020,580
|
|
Bonds, Westminster Canterbury of Richmond, Series 2006, 5.000%, 10/01/35
|
|||||
2,000
|
Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Second Senior Lien
|
10/28 at 100.00
|
BBB+
|
1,938,020
|
|
Revenue Bonds, Dulles Metrorail Capital Appreciation, Series 2010B, 0.000%, 10/01/44
|
|||||
1,935
|
Route 460 Funding Corporation, Virginia, Toll Road Revenue Bonds, Series 2012A, 5.125%, 7/01/49
|
No Opt. Call
|
BBB–
|
2,010,639
|
|
400
|
Stafford County Economic Development Authority, Virginia, Hospital Facilities Revenue Bonds,
|
6/16 at 100.00
|
Baa1
|
405,928
|
|
MediCorp Health System, Series 2006, 5.250%, 6/15/37
|
|||||
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River
|
|||||
Crossing, Opco LLC Project, Series 2012:
|
|||||
1,000
|
5.250%, 1/01/32 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB–
|
1,068,360
|
|
650
|
6.000%, 1/01/37 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB–
|
718,133
|
|
1,010
|
5.500%, 1/01/42 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB–
|
1,075,155
|
|
1,390
|
Virginia Small Business Financing Authority, Wellmont Health System Project Revenue Bonds,
|
9/17 at 100.00
|
BBB+
|
1,422,443
|
|
Series 2007A, 5.250%, 9/01/37
|
|||||
10,385
|
Total Virginia
|
10,686,738
|
|||
Washington – 2.1%
|
|||||
990
|
Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research
|
1/21 at 100.00
|
A
|
1,068,962
|
|
Center, Series 2011A, 5.625%, 1/01/35
|
|||||
2,500
|
Washington State, General Obligation Motor Vehicle Fuel Tax Bonds, Series 2008D,
|
No Opt. Call
|
AA+
|
2,760,975
|
|
5.000%, 1/01/33
|
|||||
2,115
|
Washington State, Motor Vehicle Fuel Tax General Obligation Bonds, Series 2003F, 0.000%,
|
No Opt. Call
|
AA+
|
1,392,918
|
|
12/01/27 – NPFG Insured
|
|||||
5,605
|
Total Washington
|
5,222,855
|
|||
West Virginia – 0.9%
|
|||||
500
|
West Virginia Hospital Finance Authority, Hospital Revenue Bonds, West Virginia United Health
|
6/16 at 100.00
|
A
|
511,520
|
|
Project, Series 2006A, 4.500%, 6/01/26 – AMBAC Insured
|
|||||
1,500
|
West Virginia Hospital Finance Authority, Hospital Revenue Bonds, West Virginia United Health
|
6/23 at 100.00
|
A
|
1,678,095
|
|
System Obligated Group, Refunding and Improvement Series 2013A, 5.500%, 6/01/44
|
|||||
2,000
|
Total West Virginia
|
2,189,615
|
|||
Wisconsin – 2.8%
|
|||||
1,645
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc.,
|
6/22 at 100.00
|
A2
|
1,752,221
|
|
Series 2012, 5.000%, 6/01/39
|
|||||
1,500
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan
|
8/16 at 100.00
|
A–
|
1,544,550
|
|
Healthcare System, Series 2006A, 5.250%, 8/15/31
|
|||||
2,500
|
Wisconsin Public Power Incorporated System, Power Supply System Revenue Bonds, Series 2005A,
|
7/15 at 100.00
|
AA+
|
2,590,100
|
|
5.000%, 7/01/35 – AMBAC Insured
|
|||||
990
|
Wisconsin, General Obligation Refunding Bonds, Series 2003-3, 5.000%, 11/01/26
|
9/14 at 100.00
|
AA
|
993,865
|
|
6,635
|
Total Wisconsin
|
6,880,736
|
|||
$ 332,335
|
Total Municipal Bonds (cost $216,129,665)
|
235,108,229
|
Principal
|
||||||
Amount (000)
|
Description (1)
|
Coupon |
Maturity
|
Ratings (3)
|
Value
|
|
CORPORATE BONDS –0.0%
|
||||||
Transportation –0.0%
|
||||||
$ 201
|
Las Vegas Monorail Company, Senior Interest Bonds (5), (7)
|
5.500% |
7/15/19
|
N/R
|
$ 36,264
|
|
56
|
Las Vegas Monorail Company, Senior Interest Bonds (5), (7)
|
3.000% |
7/15/55
|
N/R
|
7,467
|
|
$ 257
|
Total Corporate Bonds (cost $15,398)
|
43,731
|
||||
Total Long-Term Investments (cost $216,145,063)
|
235,151,960
|
|||||
Other Assets Less Liabilities – 4.1% (8)
|
10,161,662
|
|||||
Net Assets – 100%
|
$ 245,313,622
|
Investments in Derivatives as of June 30, 2014
|
||||||||
Interest Rate Swaps outstanding:
|
||||||||
Fund
|
Fixed Rate
|
Unrealized
|
||||||
Notional
|
Pay/Receive
|
Floating Rate
|
Fixed Rate
|
Payment
|
Effective
|
Termination
|
Appreciation
|
|
Counterparty
|
Amount
|
Floating Rate
|
Index
|
(Annualized)
|
Frequency
|
Date (9)
|
Date
|
(Depreciation) (8)
|
Barclays
|
$20,100,000
|
Receive
|
USD-BMA
|
2.728%
|
Quarterly
|
5/28/15
|
5/28/24
|
$(673,956)
|
JPMorgan
|
2,500,000
|
Receive
|
USD-BMA
|
3.230
|
Quarterly
|
6/01/15
|
6/01/35
|
(92,369)
|
$22,600,000
|
$(766,325)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Long-Term Investments:
|
||||
Municipal Bonds
|
$ —
|
$233,938,752
|
$1,169,477
|
$235,108,229
|
Corporate Bonds
|
—
|
—
|
43,731
|
43,731
|
Investments in Derivatives:
|
||||
Interest Rate Swaps*
|
—
|
(766,325)
|
—
|
(766,325)
|
Total
|
$ —
|
$233,172,427
|
$1,213,208
|
$234,385,635
|
Gross unrealized:
|
|
Appreciation
|
$22,453,458
|
Depreciation
|
(2,237,048)
|
Net unrealized appreciation (depreciation) of investments
|
$20,216,410
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets.
|
(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 valued at fair value using methods determined in good faith by, or at the discretion of, the
|
Board of Directors/Trustees. For fair value measurement disclosure purposes, investment classified as Level 3.
|
|
(6)
|
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for
|
investments in inverse floating rate transactions.
|
|
(7)
|
During January 2010, Las Vegas Monorail Company (“Las Vegas Monorail”) filed for federal bankruptcy
|
protection. During March 2012, Las Vegas Monorail emerged from federal bankruptcy with the acceptance
|
of a reorganization plan assigned by the Federal Bankruptcy Court. Under the reorganization plan, the Fund
|
|
surrendered its Las Vegas Monorail Project Revenue Bonds, First Tier, Series 2000 and in turn received two
|
|
senior interest corporate bonds: the first with an annual coupon rate of 5.500% maturing on July 15, 2019
|
|
and the second with an annual coupon rate of 3.000% (5.500% after December 31, 2015) maturing on
|
|
July 15, 2055. The Fund’s custodian is not accruing income on the Fund’s records for either senior interest
|
|
corporate bond.
|
|
(8)
|
Other Assets Less Liabilities includes the Unrealized Appreciation (Depreciation) of derivative instruments
|
as listed within Investments in Derivatives as of the end of the reporting period.
|
|
(9)
|
Effective date represents the date on which both the Fund and Counterparty commence interest payment
|
accruals on each contract.
|
|
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.
|
USD-BMA
|
United States Dollar-Bond Market Association.
|
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.
|