522 Fifth Avenue, New York, New York (Address of principal executive offices) |
10036 (Zip code) |
PRINCIPAL | ||||||||||||||||
AMOUNT IN | COUPON | MATURITY | ||||||||||||||
THOUSANDS | RATE | DATE | VALUE | |||||||||||||
Tax-Exempt Municipal Bonds (173.4%)
|
||||||||||||||||
Alaska (0.8%) |
||||||||||||||||
$ | 4,000 | Northern Tobacco Securitization Corporation, Asset Backed
Ser 2006 A |
5.00 | 06/01/46 | $ | 2,188,280 | ||||||||||
Arizona (6.1%) |
||||||||||||||||
2,000 | Arizona Transportation Board, Highway Refg Ser 2002 A |
5.25 | 07/01/19 | 2,179,360 | ||||||||||||
650 | Maricopa County, Pollution Control Corp., 2009 Ser A |
6.00 | 05/01/29 | 661,375 | ||||||||||||
3,000 | Phoenix Civic Improvement Corporation, Airport Ser 2002 B
(AMT) (FGIC Insd) |
5.25 | 07/01/32 | 2,700,930 | ||||||||||||
3,800 | Phoenix Civic Improvement Corporation, Jr Lien Water
Ser 2002 (FGIC Insd) |
5.00 | 07/01/26 | 3,816,188 | ||||||||||||
6,000 | Salt River Project Agricultural Improvement & Power District,
2002 Ser B (a) |
5.00 | 01/01/31 | 6,153,699 | ||||||||||||
2,000 | Surprise Municipal Property Corporation Ser 2007 |
4.90 | 04/01/32 | 1,522,240 | ||||||||||||
17,033,792 | ||||||||||||||||
California (27.2%) |
||||||||||||||||
1,575 | Alhambra Unified School District 2009 Ser B (g) |
0.00 | 08/01/35 | 283,169 | ||||||||||||
2,545 | Alhambra Unified School District 2009 Ser B (g) |
0.00 | 08/01/36 | 430,589 | ||||||||||||
2,000 | California Health Facilities Financing Authority, Cedars-Sinai
Medical Center Ser 2005 |
5.00 | 11/15/34 | 1,745,920 | ||||||||||||
2,000 | California Health Facilities Financing Authority, Kaiser Permanente
Ser 2006 A |
5.25 | 04/01/39 | 1,763,060 | ||||||||||||
5,000 | California Infrastructure & Economic Development Bank, Bay Area
Toll Bridges First Lien Ser 2003 (a) |
5.00 | 01/01/28 | (b) | 5,692,580 | |||||||||||
3,000 | California Infrastructure & Economic Development Bank, The
Scripps Research Institute Ser 2005 A |
5.00 | 07/01/29 | 3,005,970 | ||||||||||||
6,000 | California Pollution Control Financing Authority, Keller Canyon
Landfill Co/Browning-Ferris Industries Inc Ser 1992 (AMT) |
6.875 | 11/01/27 | 6,002,160 | ||||||||||||
5,000 | California State Economic Recovery Ser 2004 A |
5.00 | 07/01/16 | 5,128,850 | ||||||||||||
4,000 | California Statewide Communities Development, Baptist University
Ser 2007 A |
5.40 | 11/01/27 | 2,844,080 | ||||||||||||
5,000 | California Statewide Communities Development, John Muir Health
Ser 2006 A |
5.00 | 08/15/32 | 4,335,150 | ||||||||||||
5,000 | California, Various Purpose Dtd 05/01/03 |
5.25 | 02/01/19 | 5,199,100 | ||||||||||||
4,685 | Dry Creek Joint Elementary School District Election 2008 E Ser 2009 (g) |
0.00 | 08/01/40 | 568,103 | ||||||||||||
4,535 | Dry Creek Joint Elementary School District Election 2008 E Ser 2009 (g) |
0.00 | 08/01/41 | 513,090 | ||||||||||||
6,000 | Golden State Tobacco Securitization Corporation,
Enhanced Asset Backed Ser 2005 A (AMBAC Insd) |
5.00 | 06/01/29 | 5,111,100 | ||||||||||||
1,150 | Golden State Tobacco Securitization Corporation,
Enhanced Asset Backed Ser 2007 A |
5.75 | 06/01/47 | 690,173 | ||||||||||||
5,100 | Golden State Tobacco Securitization Corporation,
Enhanced Asset Backed Ser 2007 A-1 |
5.125 | 06/01/47 | 2,757,774 | ||||||||||||
4,000 | Los Angeles Ser 2004 A (NATL-RE Insd) |
5.00 | 09/01/24 | 4,139,400 | ||||||||||||
1,745 | Moreland School District, Santa Clara County 2006 Ser C (AMBAC Insd) (g) |
0.00 | 08/01/29 | 457,591 | ||||||||||||
1,270 | Oak Grove School District, Santa Clara County Election 2008 Ser A |
0.00 | 08/01/28 | 376,682 | ||||||||||||
1,000 | Port of Oakland Ser 2002 L (AMT) (FGIC Insd) |
5.00 | 11/01/21 | 916,630 | ||||||||||||
4,000 | Port of Oakland Ser 2002 L (AMT) (FGIC Insd) |
5.00 | 11/01/32 | 3,256,400 | ||||||||||||
22,685 | San Bernardino Community College District Election 2002 Ser B (g) |
0.00 | 08/01/44 | 2,133,071 | ||||||||||||
1,000 | San Diego County, Burnham Institute for Medical Research
Ser 2006 (COPs) |
5.00 | 09/01/34 | 737,030 | ||||||||||||
3,720 | San Diego County Water Authority Ser 2002 A (COPs) (NATL-RE Insd) |
5.00 | 05/01/27 | 3,751,322 | ||||||||||||
960 | San Francisco City and County, Laguna Honda Hospital Refg
Ser 2008 R3 (AGC Insd) (a) |
5.00 | 06/15/28 | 965,966 | ||||||||||||
720 | San Rafael City Elementary School District, Marin County
Election 2002 Ser B (g) |
0.00 | 08/01/25 | 286,639 | ||||||||||||
16,000 | Silicon Valley Tobacco Securitization Authority Tobacco Settlement,
Santa Clara Tobacco Securitization Corp Ser 2007 (g) |
0.00 | 06/01/36 | 1,120,000 | ||||||||||||
5,000 | Tobacco Securitization Authority of Northern California, Sacramento
County Tobacco Securitization Corporation Ser 2006 A-1 |
5.00 | 06/01/37 | 3,019,550 | ||||||||||||
1,350 | Twin Rivers Unified School District, Ser 2009 (BANs) (g) |
0.00 | 04/01/14 | 1,071,144 | ||||||||||||
500 | University of California, 2009 Ser 0 |
5.25 | 05/15/39 | 511,490 | ||||||||||||
2,760 | University of California Ser 2007-J (FSA Insd) (a) |
4.50 | 05/15/31 | 2,492,945 | ||||||||||||
2,240 | University of California Ser 2007-J (FSA Insd) (a) |
4.50 | 05/15/35 | 1,978,317 | ||||||||||||
10,100 | William S. Hart Union High School District, Los Angeles County
Election 2008 Ser A (g) |
0.00 | 08/01/32 | 2,228,262 | ||||||||||||
75,513,307 | ||||||||||||||||
PRINCIPAL | ||||||||||||||||
AMOUNT IN | COUPON | MATURITY | ||||||||||||||
THOUSANDS | RATE | DATE | VALUE | |||||||||||||
Colorado (3.9%) |
||||||||||||||||
1,750 | Boulder County, University Corp for Atmospheric Research
Ser 2002 (NATL-RE Insd) |
5.375 | 09/01/18 | 1,861,230 | ||||||||||||
1,750 | Boulder County, University Corp for Atmospheric Research
Ser 2002 (NATL-RE Insd) |
5.375 | 09/01/21 | 1,861,125 | ||||||||||||
2,000 | Colorado Educational & Cultural Facilities Authority, Peak to Peak
Charter School Refg & Impr Ser 2004 (XLCA Insd) |
5.25 | 08/15/34 | 1,773,820 | ||||||||||||
2,000 | Colorado Health Facilities Authority, Adventist/Sunbelt Ser 2006 D |
5.25 | 11/15/35 | 1,865,080 | ||||||||||||
1,820 | Denver Airport System Ser 2006 B (AMT) |
5.00 | 11/15/12 | 1,905,467 | ||||||||||||
1,590 | Denver Convention Center Hotel Authority, Refg Ser 2006
(XLCA Insd) |
5.00 | 12/01/30 | 1,221,406 | ||||||||||||
265 | Public Authority For Colorado Energy, Natural Gas Ser 2008 |
6.25 | 11/15/28 | 256,332 | ||||||||||||
10,744,460 | ||||||||||||||||
Connecticut (1.7%) |
||||||||||||||||
5,000 | Connecticut Housing Finance Authority, SubSer A-2 (AMT) |
5.15 | 05/15/38 | 4,775,900 | ||||||||||||
Delaware (0.3%) |
||||||||||||||||
1,000 | New Castle County, Newark Charter School Inc Ser 2006 |
5.00 | 09/01/36 | 735,630 | ||||||||||||
District of Columbia (1.8%) |
||||||||||||||||
6,000 | District of Columbia Ballpark Ser 2006 B-1 (FGIC Insd) |
5.00 | 02/01/31 | 4,905,540 | ||||||||||||
Florida (8.9%) |
||||||||||||||||
2,000 | Broward County School Board, Ser 2001 A (COPs) (FSA Insd) |
5.00 | 07/01/26 | 2,004,760 | ||||||||||||
3,000 | Highlands County Health Facilities Authority, Adventist Health/
Sunbelt Ser 2006 C |
5.25 | 11/15/36 | 2,840,032 | ||||||||||||
3,300 | Jacksonville Electric Authority, St Johns Power Park
Refg Issue 2 Ser 17 |
5.00 | 10/01/18 | 3,370,620 | ||||||||||||
1,500 | Lee County Industrial Development Authority, Shell Point Village/
The Alliance Community for Retirement Living Inc, Ser 2006 |
5.125 | 11/15/36 | 933,645 | ||||||||||||
2,000 | Miami-Dade County, Building Better Communities Program
Ser 2008 B-1 |
6.00 | 07/01/38 | 2,085,360 | ||||||||||||
1,250 | Miami-Dade County, Miami International Airport Ser 2009 A |
5.00 | 10/01/25 | 1,257,838 | ||||||||||||
1,200 | Palm Beach County, Solid Waste Authority Ser 2009 (BHAC Insd) |
5.50 | 10/01/23 | 1,324,800 | ||||||||||||
12,000 | South Miami Health Facilities Authority, Baptist Health
South Florida Ser 2007 |
5.00 | 08/15/42 | 10,772,520 | ||||||||||||
24,589,575 | ||||||||||||||||
Georgia (4.1%) |
||||||||||||||||
2,000 | Atlanta, Airport Ser 2004 J (FSA Insd) |
5.00 | 01/01/34 | 1,983,200 | ||||||||||||
6,000 | Georgia State Road & Tollway Authority Ser 2004 |
5.00 | 10/01/22 | 6,366,180 | ||||||||||||
3,000 | Georgia State Road & Tollway Authority Ser 2004 |
5.00 | 10/01/23 | 3,171,360 | ||||||||||||
11,520,740 | ||||||||||||||||
Hawaii (3.7%) |
||||||||||||||||
10,000 | Honolulu City & County Ser 2003 A (NATL-RE Insd) (a) |
5.25 | 03/01/26 | 10,318,750 | ||||||||||||
10,318,750 | ||||||||||||||||
Idaho (1.3%) |
||||||||||||||||
35 | Idaho Housing Agency, 1992 Ser E (AMT) |
6.75 | 07/01/12 | 35,069 | ||||||||||||
745 | Idaho Housing & Finance Association, 2000 Ser E (AMT) |
6.00 | 01/01/32 | 762,835 | ||||||||||||
2,600 | Idaho Housing & Finance Association 2008 Ser A |
5.25 | 07/15/23 | 2,800,772 | ||||||||||||
3,598,676 | ||||||||||||||||
Illinois (5.0%) |
||||||||||||||||
4,000 | Chicago, O Hare Intl Airport Third Lien Ser 2003 B-2
(AMT) (FSA Insd) |
5.75 | 01/01/23 | 4,052,600 | ||||||||||||
830 | Illinois Finance Authority, Northwestern Memorial Hospital Ser 2009 B |
5.00 | 08/15/16 | 894,184 | ||||||||||||
645 | Illinois Finance Authority, Rush University Medical Center Obligated Group
Ser 2009 A |
7.25 | 11/01/38 | 679,978 | ||||||||||||
6,000 | Illinois, First Ser 2002 (NATL-RE Insd) |
5.375 | 07/01/20 | 6,228,120 | ||||||||||||
2,000 | Schaumburg Ser 2004 B (FGIC Insd) |
5.25 | 12/01/34 | 2,027,680 | ||||||||||||
13,882,562 | ||||||||||||||||
Indiana (6.5%) |
||||||||||||||||
10,000 | Indiana Bond Bank, Revolving Fund Ser 2001 A |
5.00 | 02/01/23 | 10,411,000 | ||||||||||||
6,000 | Indiana Health & Educational Facility Financing Authority,
Clarian Health Ser 2006 A |
5.25 | 02/15/40 | 5,245,020 | ||||||||||||
1,400 | Marion County Convention & Recreational Facilities Authority,
Refg Ser 2003 A (AMBAC Insd) |
5.00 | 06/01/21 | 1,417,472 | ||||||||||||
820 | Rockport Indiana Michigan Power Company Project, Refg Ser 2009 B |
6.25 | 06/01/25 | 859,180 | ||||||||||||
17,932,672 | ||||||||||||||||
Iowa (1.4%) |
||||||||||||||||
2120 | Iowa State LJOBS Program Ser 2009 A (a) |
5.00 | 06/01/25 | 2,277,584 | ||||||||||||
1590 | Iowa State LJOBS Program Ser 2009 A (a) |
5.00 | 06/01/26 | 1,695,228 | ||||||||||||
3,972,812 | ||||||||||||||||
Kansas (1.2%) |
||||||||||||||||
730 | Kansas Development Finance Authority, Adventist Health System
Sunbelt Obligated Group Ser 2009 C |
5.50 | 11/15/29 | 736,212 |
PRINCIPAL | ||||||||||||||||
AMOUNT IN | COUPON | MATURITY | ||||||||||||||
THOUSANDS | RATE | DATE | VALUE | |||||||||||||
3,000 | University of Kansas Hospital Authority, KU Health Ser 2002 |
4.50 | 09/01/32 | 2,613,840 | ||||||||||||
3,350,052 | ||||||||||||||||
Kentucky (1.8%) |
||||||||||||||||
5,000 | Louisville & Jefferson County Metropolitan Sewer District,
Ser 1999 A (FGIC Insd) |
5.75 | 05/15/33 | 5,047,450 | ||||||||||||
Louisiana (0.5%) |
||||||||||||||||
1,500 | Louisiana Offshore Terminal Authority, Deepwater Port Ser 2007 B-2 |
4.30 | 10/01/37 | 1,518,390 | ||||||||||||
Maryland (2.5%) |
||||||||||||||||
1,105 | Baltimore County, Oak Crest Village Ser 2007 A |
5.00 | 01/01/37 | 951,902 | ||||||||||||
2,885 | Maryland Health & Higher Educational Facilities Authority,
King Farm Presbyterian Community 2006 Ser B |
5.00 | 01/01/17 | 2,419,765 | ||||||||||||
1,700 | Maryland Health & Higher Educational Facilities Authority,
University of Maryland Medical Ser 2006 A |
5.00 | 07/01/41 | 1,465,944 | ||||||||||||
2,000 | Northeast Maryland Waste Disposal Authority, Montgomery
County Ser 2003 (AMT) (AMBAC Insd) |
5.50 | 04/01/16 | 2,091,540 | ||||||||||||
6,929,151 | ||||||||||||||||
Massachusetts (0.6%) |
||||||||||||||||
1,600 | Massachusetts Health and Educational Facilities Authority, Boston
College 2008 Ser M-2 |
5.50 | 06/01/30 | 1,791,568 | ||||||||||||
Michigan (3.9%) |
||||||||||||||||
1,735 | Michigan Hospital Finance Authority, Henry Ford Health
Refg Ser 2006 A |
5.25 | 11/15/46 | 1,329,096 | ||||||||||||
5,000 | Michigan Strategic Fund, Detroit Edison Co Ser 2001 C (AMT) |
5.65 | 09/01/29 | 4,480,450 | ||||||||||||
3,000 | Wayne County, Detroit Metropolitan Wayne County Airport
Refg Ser 2002 D (AMT) (FGIC Insd) |
5.50 | 12/01/17 | 3,024,990 | ||||||||||||
1,855 | Wayne State University, Refg Ser 2008 (FSA Insd) |
5.00 | 11/15/25 | 1,919,109 | ||||||||||||
10,753,645 | ||||||||||||||||
Minnesota (0.7%) |
||||||||||||||||
2,000 | Western Minnesota Municipal Power Agency, 2003 Ser A (NATL-RE Insd) |
5.00 | 01/01/30 | 1,977,220 | ||||||||||||
Missouri (0.5%) |
||||||||||||||||
1,500 | Missouri Health & Educational Facilities Authority, Lutheran
Senior Services Ser 2005 A |
5.375 | 02/01/35 | 1,159,500 | ||||||||||||
150 | Missouri Housing Development Commission, Homeownership
Ser 2000 B-1 (AMT) |
6.25 | 03/01/31 | 155,299 | ||||||||||||
1,314,799 | ||||||||||||||||
Montana (1.0%) |
||||||||||||||||
2,705 | Montana Board of Housing, 2000 Ser B (AMT) |
6.00 | 12/01/29 | 2,741,598 | ||||||||||||
Nevada (4.3%) |
||||||||||||||||
2,000 | Clark County, Airport SubLien Ser 2004 A-1 (AMT) (FGIC Insd) |
5.50 | 07/01/20 | 1,990,180 | ||||||||||||
1,000 | Clark County, Jet Aviation Fuel Tax Ser 2003 C (AMT) (AMBAC Insd) |
5.375 | 07/01/19 | 969,700 | ||||||||||||
1,100 | Clark County, Jet Aviation Fuel Tax Ser 2003 C (AMT) (AMBAC Insd) |
5.375 | 07/01/20 | 1,057,793 | ||||||||||||
2,000 | Clark County, Jet Aviation Fuel Tax Ser 2003 C (AMT) (AMBAC Insd) |
5.375 | 07/01/22 | 1,893,800 | ||||||||||||
640 | Las Vegas Redevelopment Agency, Tax Increment Ser 2009 A |
6.25 | 06/15/16 | 677,613 | ||||||||||||
5,345 | Las Vegas Valley Water District, Water Impr Refg Ser 2003 A
(FGIC Insd) |
5.25 | 06/01/20 | 5,485,253 | ||||||||||||
12,074,339 | ||||||||||||||||
New Hampshire (0.2%) |
||||||||||||||||
655 | New Hampshire Business Finance Authority, Ser 2009 |
7.125 | 07/01/27 | 674,244 | ||||||||||||
New Jersey (9.3%) |
||||||||||||||||
2,000 | New Jersey Economic Development Authority, School Facilities
Construction Refd 2005 Ser N |
5.50 | 09/01/24 | 2,164,640 | ||||||||||||
1,555 | New Jersey Housing Mortgage Finance Authority, Home Buyer
Ser 2000 CC (AMT) (NATL-RE Insd) |
5.875 | 10/01/31 | 1,561,718 | ||||||||||||
5,000 | New Jersey Transportation Trust Fund Authority, 1999 Ser A |
5.75 | 06/15/20 | 5,498,100 | ||||||||||||
1,500 | New Jersey Turnpike Authority, Ser 2003 A (FGIC Insd) (c) |
5.00 | 01/01/27 | 1,525,530 | ||||||||||||
10,000 | Passaic Valley Sewerage Commissioners Ser F (FGIC Insd) |
5.00 | 12/01/20 | 9,329,600 | ||||||||||||
5,000 | Tobacco Settlement Financing Corporation Ser 2007-1 A |
4.625 | 06/01/26 | 3,464,050 | ||||||||||||
6,000 | Tobacco Settlement Financing Corporation Ser 2007-1 B (g) |
0.00 | 06/01/41 | 263,760 | ||||||||||||
2,000 | University of Medicine & Dentistry Ser 2004 (COPs) (NATL-RE Insd) |
5.25 | 06/15/23 | 1,947,060 | ||||||||||||
25,754,458 | ||||||||||||||||
New York (25.4%) |
||||||||||||||||
10,000 | Metropolitan Transportation Authority,
Transportation Refg Ser 2002 A (FGIC Insd) |
5.00 | 11/15/25 | 10,080,600 | ||||||||||||
2,380 | New York City, 2009 Subser A-1 (a) |
5.25 | 08/15/27 | 2,478,333 | ||||||||||||
2,380 | New York City, 2009 Subser A-1 (a) |
5.25 | 08/15/28 | 2,478,334 | ||||||||||||
2,040 | New York City Transitional Finance Authority, 2010 Subser A-1 (a) |
5.00 | 05/01/28 | 2,107,891 | ||||||||||||
1,635 | New York City Transitional Finance Authority, 2010 Subser A-1 (a) |
5.00 | 05/01/29 | 1,689,413 |
PRINCIPAL | ||||||||||||||||
AMOUNT IN | COUPON | MATURITY | ||||||||||||||
THOUSANDS | RATE | DATE | VALUE | |||||||||||||
1,635 | New York City Transitional Finance Authority, 2010 Subser A-1 (a) |
5.00 | 05/01/30 | 1,689,413 | ||||||||||||
3,500 | New York City Municipal Water Finance Authority, Ser A-2003 |
5.375 | 06/15/19 | 3,793,510 | ||||||||||||
18,000 | New York City Municipal Water Finance Authority, 2002 Ser B (a) |
5.00 | 06/15/26 | 18,213,720 | ||||||||||||
10,000 | New York City Municipal Water Finance Authority, 2004 Ser A |
5.00 | 06/15/35 | 10,013,400 | ||||||||||||
1,935 | New York City Trust for Cultural Resources, Museum of
Modern Art Refg Ser 2008 1A (a) |
5.00 | 04/01/26 | 2,039,751 | ||||||||||||
2,815 | New York City Trust for Cultural Resources, Museum of
Modern Art Refg Ser 2008 1A (a) |
5.00 | 04/01/27 | 2,967,389 | ||||||||||||
1,100 | New York State Dormitory Authority, Court Facilities Lease Ser 2005 A |
5.50 | 05/15/29 | 1,157,156 | ||||||||||||
2,000 | Seneca Nation of Indians Ser 2007 A (d) |
5.00 | 12/01/23 | 1,498,320 | ||||||||||||
5,000 | Tobacco Settlement Financing Corporation, State Contingency
Ser 2003 B-1C |
5.50 | 06/01/17 | 5,165,900 | ||||||||||||
5,000 | Triborough Bridge & Tunnel Authority Refg 2002 E (NATL-RE Insd) (a) |
5.25 | 11/15/22 | 5,185,604 | ||||||||||||
70,558,734 | ||||||||||||||||
North Carolina (1.7%) |
||||||||||||||||
4,500 | Charlotte, Water & Sewer Ser 2001 |
5.125 | 06/01/26 | 4,637,745 | ||||||||||||
North Dakota (0.8%) |
||||||||||||||||
2,750 | Ward County, Trinity Ser 2006 |
5.125 | 07/01/29 | 2,155,890 | ||||||||||||
Ohio (5.9%) |
||||||||||||||||
5,100 | American Municipal Power Ohio, Inc., Prairie State Energy Campus
Ser 2008 A (AGC Insd) (a) |
5.25 | 02/15/33 | 5,177,271 | ||||||||||||
5,370 | Cuyahoga County, Cleveland Clinic Ser 2003 A |
6.00 | 01/01/32 | 5,591,512 | ||||||||||||
3,000 | Lorain County, Catholic Healthcare Partners Ser 2001 A |
5.625 | 10/01/17 | 3,097,410 | ||||||||||||
2,000 | Ohio State University, General Receipts Ser 2002 A |
5.125 | 12/01/31 | 2,013,540 | ||||||||||||
410 | Ohio State Water Development Authority 2009 Ser A |
5.875 | 06/01/33 | 426,503 | ||||||||||||
16,306,236 | ||||||||||||||||
Oklahoma (0.4%) |
||||||||||||||||
1,500 | Oklahoma Development Finance Authority, Great Plains Medical Center
Ser 2007 |
5.125 | 12/01/36 | 1,111,695 | ||||||||||||
Oregon (0.3%) |
||||||||||||||||
685 | Oregon Department of Administrative Services 2009 Ser A |
5.25 | 04/01/24 | 755,651 | ||||||||||||
Pennsylvania (0.9%) |
||||||||||||||||
4,000 | Allegheny County Redevelopment Authority, West Penn Allegheny
Health Ser 2007 A |
5.375 | 11/15/40 | 2,410,760 | ||||||||||||
Puerto Rico (0.5%) |
||||||||||||||||
1,375 | Puerto Rico, Sales Tax Financing 2009 Subser A |
5.00 | (e) | 08/01/39 | 1,398,526 | |||||||||||
South Carolina (5.8%) |
||||||||||||||||
3,000 | Charleston Educational Excellence Financing Corporation,
Charleston County School District Ser 2005 |
5.25 | 12/01/29 | 3,040,080 | ||||||||||||
70 | Lexington County Health Services District, Lexmed Inc, Ser 2007 A |
5.00 | 11/01/16 | 73,184 | ||||||||||||
5,000 | South Carolina Public Service Authority, Refg Ser 2002 D (FSA Insd) |
5.00 | 01/01/20 | 5,317,300 | ||||||||||||
7,000 | South Carolina Public Service Authority, Refg Ser 2003 A
(AMBAC Insd) (a) |
5.00 | 01/01/22 | 7,207,601 | ||||||||||||
345 | Richland County, Environmental Improvement, International Paper
Company Ser 2007 A |
4.60 | 09/01/12 | 337,959 | ||||||||||||
15,976,124 | ||||||||||||||||
Tennessee (0.6%) |
||||||||||||||||
1,620 | Tennessee Energy Acquisition Corporation Ser 2006 A |
5.25 | 09/01/19 | 1,556,545 | ||||||||||||
Texas (20.8%) |
||||||||||||||||
2,000 | Alliance Airport Authority, Federal Express Corp Refg Ser 2006 (AMT) |
4.85 | 04/01/21 | 1,708,060 | ||||||||||||
2,500 | Arlington City, Special Tax Ser 2009 |
5.00 | 08/15/28 | 2,460,750 | ||||||||||||
10,000 | Austin, Water & Wastewater Rrfg Sec 2001 A & B (FSA Insd) (a) (d) |
5.125 | 05/15/27 | 10,105,155 | ||||||||||||
5,100 | Board of Regents of the University of Houston System Ser 2008
(FSA Insd) (a) |
5.00 | 02/15/33 | 5,135,173 | ||||||||||||
2,380 | Harris County, Toll Road Unlimited Tax Ser 2007 C |
5.25 | 08/15/31 | 2,596,295 | ||||||||||||
6,000 | Houston, Airport Sub Lien Ser 2000 A (AMT) (FSA Insd) |
5.875 | 07/01/17 | 6,063,660 | ||||||||||||
5,000 | Houston, Airport Sub Lien Ser 2000 A (AMT) (FSA Insd) |
5.625 | 07/01/30 | 4,870,850 | ||||||||||||
5,120 | Houston, Combined Utility First Lien Refg 2004 Ser A (FGIC Insd) |
5.25 | 05/15/23 | 5,325,926 | ||||||||||||
8,600 | North Texas Tollway Authority Refg First Tier Ser 2008 D (g) |
0.00 | 01/01/28 | 2,828,626 | ||||||||||||
1,650 | North Texas Tollway Authority Refg First Tier Ser 2008 D (g) |
0.00 | 01/01/31 | 437,069 | ||||||||||||
13,960 | San Antonio, Water & Refg Ser 2001 (FGIC Insd) |
5.00 | 05/15/26 | 14,058,697 | ||||||||||||
2,000 | Tarrant County Cultural Educational Facilities Finance Corp,
Air Force Village II Inc Ser 2007 |
5.125 | 05/15/37 | 1,439,300 | ||||||||||||
530 | Taxas Municipal Gas Acquisition and Supply Corp. Ser 2008 D |
6.25 | 12/15/26 | 512,531 | ||||||||||||
57,542,092 | ||||||||||||||||
Vermont (0.7%) |
||||||||||||||||
2,500 | Vermont Economic Development Authority, Wake Robin Corp
Ser 2006 A |
5.375 | 05/01/36 | 1,839,300 | ||||||||||||
PRINCIPAL | ||||||||||||||||
AMOUNT IN | COUPON | MATURITY | ||||||||||||||
THOUSANDS | RATE | DATE | VALUE | |||||||||||||
Virginia (1.4%) |
||||||||||||||||
2,000 | Fairfax County Economic Development Authority, Goodwin House
Inc Ser 2007 |
5.125 | 10/01/42 | 1,524,960 | ||||||||||||
1,450 | Henrico County Economic Development Authority, Residential Care
Facility, Westminster Canterbury-Management Corp Ser 2006 |
5.00 | 10/01/27 | 1,170,875 | ||||||||||||
1,750 | Henrico County Economic Development Authority, Residential Care
Facility, Westminster Canterbury-Management Corp Ser 2006 |
5.00 | 10/01/35 | 1,315,615 | ||||||||||||
4,011,450 | ||||||||||||||||
Washington (9.0%) |
||||||||||||||||
5,000 | Energy Northwest, ColuNATL-RE Refg Ser 2001 C (NATL-RE Insd) |
5.75 | 07/01/18 | 5,483,100 | ||||||||||||
5,000 | Grant County Public Utility District #2, Electric Refg Ser 2001 H
(FSA Insd) |
5.375 | 01/01/18 | 5,299,900 | ||||||||||||
3,510 | Port of Seattle, Passenger Facility Ser 1998 A (NATL-RE Insd) |
5.00 | 12/01/23 | 3,474,373 | ||||||||||||
2,500 | Spokane School District #81 Ser 2005 (NATL-RE Insd) (g) |
0.00 | (e) | 06/01/23 | 2,660,825 | |||||||||||
3,725 | Washington State, Various Purpose Ser 2010 A (a) |
5.00 | 08/01/29 | 3,885,683 | ||||||||||||
3,915 | Washington State, Various Purpose Ser 2010 A (a) |
5.00 | 08/01/30 | 4,083,879 | ||||||||||||
24,887,760 | ||||||||||||||||
Total
Tax-Exempt Municipal Bonds (Cost $500,204,019) |
480,788,118 | |||||||||||||||
NUMBER OF | ||||||||||||||||
SHARES (000) | ||||||||||||||||
Short-Term Investment (f) (2.5%) |
||||||||||||||||
Investment Company |
||||||||||||||||
6,882 | Morgan Stanley Institutional Liquidity Funds Tax-Exempt Portfolio
Institutional Class (Cost $6,881,704) |
6,881,704 | ||||||||||||||
Total Investments (Cost $507,085,723) (i) (j) |
175.9 | % | 487,669,822 | |||||||||||||
Other Assets in Excess of Liabilities |
3.9 | 10,822,620 | ||||||||||||||
Floating Rate Note and Dealer Trusts Obligations Related to Securities Held |
||||||||||||||||
Notes with interest rates ranging from 0.31% to 0.71% at July 31, 2009 and contractual
maturities of collateral ranging from 01/01/22 to 07/01/36 (h) (Cost ($66,824,000)) |
-24.1 | (66,824,000 | ) | |||||||||||||
Preferred Shares of Beneficial Interest |
(55.7 | ) | (154,500,000 | ) | ||||||||||||
Net Assets Applicable to Common Shareholders |
100.0 | % | $ | 277,168,442 | ||||||||||||
AMT | Alternative Minimum Tax. | |
COPs | Certificates of Participation. | |
(a) | Underlying security related to inverse floater entered into by the Fund. | |
(b) | Prerefunded to call date shown. | |
(c) | A portion of this security has been physically segregated in connection with open futures contracts. | |
(d) | Resale is restricted to qualified institutional investors. | |
(e) | Security is a Step-up bond where the coupon increases on a predetermined future date. | |
(f) | The Fund invests in Morgan Stanley Institutional Liquidity Funds Tax-Exempt Portfolio Institutional Class, an open-end management investment company managed by the Investment Adviser. Investment Advisory fees paid by the Fund are reduced by an amount equal to the advisory and administrative service fees paid by Morgan Stanley Institutional Liquidity Funds Tax-Exempt Portfolio Institutional Class with respect to assets invested by the Fund in Morgan Stanley Institutional Liquidity Funds Tax-Exempt Portfolio Institutional Class . | |
(g) | Capital appreciation bond. | |
(h) | Floating rate note and dealer trusts obligations related to securities held The Trust enters into transactions in which it transfers to Dealer Trusts (Dealer Trusts), fixed rate bonds in exchange for cash and residual interests in the Dealer Trusts assets and cash flows, which are in the form of inverse floating rate investments. The Dealer Trusts fund the purchases of the fixed rate bonds by issuing floating rate notes to third parties and allowing the Trust to retain residual interest in the bonds. The Trust enters into shortfall agreements with the Dealer Trusts which commit the Trust to pay the Dealer Trusts, in certain circumstances, the difference between the liquidation value of the fixed rate bonds held by the Dealer Trusts and the liquidation value of the floating rate notes held by third parties, as well as any shortfalls in interest cash flows. The residual interests held by the Trust (inverse floating rate investments) include the right of the Fund (1) to cause the holders of the floating rate notes to tender their notes at par at the next interest rate reset date, and (2) to transfer the municipal bond from the Dealer Trusts to the Trust, thereby collapsing the Dealer Trusts. |
The Trust accounts for the transfer of bonds to the Dealer Trusts as secured borrowings, with the securities transferred remaining in the Trusts investment assets, and the related floating rate notes reflected as Trust liabilities. The notes issued by the Dealer Trusts have interest rates that reset weekly and the floating rate note holders have the option to tender their notes to the Dealer Trusts for redemption at par at each reset date. At July 31, 2009, Trust investments with a value of $106,019,678 are held by the Dealer Trusts and serve as collateral for the $66,824,000 in floating rate note obligations outstanding at that date. | ||
(i) | Securities have been designated as collateral in connection with open futures contracts and inverse floating rate municipal obligations. | |
(j) | The aggregate cost for federal income tax purposes approximates the aggregate cost for book purposes. |
AGC | Assured Guaranty Corporation. | |
AMBAC | AMBAC Assurance Corporation. | |
FGIC | Financial Guaranty Insurance Company. | |
FSA | Financial Security Assurance Inc. | |
NATL-RE | National Public Finance Guarantee Corporation. | |
XLCA | XL Capital Assurance Inc. |
UNREALIZED | ||||||||||||||||
NUMBER OF | DESCRIPTION, DELIVERY | UNDERLYING FACE | APPRECIATION/ | |||||||||||||
CONTRACTS | LONG/SHORT | MONTH AND YEAR | AMOUNT AT VALUE | (DEPRECIATION) | ||||||||||||
14 | Long | U.S. Treasury Notes 5 Year
September 2009 |
$ | 1,615,359 | $ | (313 | ) | |||||||||
4 | Long | U.S. Treasury Bond 2 Year
September 2009 |
866,312 | 366 | ||||||||||||
23 | Short | U.S. Treasury Notes 10 Year
September 2009 |
(2,697,469 | ) | (25,723 | ) | ||||||||||
267 | Short | U.S. Treasury Notes 20 Year
September 2009 |
(31,773,000 | ) | (982,283 | ) | ||||||||||
Net Unrealized Depreciation |
$ | (1,007,952 | ) | |||||||||||||
Fair Value Measurements at July 31, 2009 Using | ||||||||||||||||
Unadjusted | ||||||||||||||||
Quoted Prices In | Significant | Significant | ||||||||||||||
Active Market for | Other Observable | Unobservable | ||||||||||||||
Identical Investments | Inputs | Inputs | ||||||||||||||
Investment Type | Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||||
Assets |
||||||||||||||||
Tax-Exempt Municipal Bonds |
$ | 480,788,118 | | $ | 480,788,118 | | ||||||||||
Short-Term Investment Investment Company |
6,881,704 | $ | 6,881,704 | | | |||||||||||
Futures |
366 | 366 | | | ||||||||||||
Total |
$ | 487,670,188 | $ | 6,882,070 | $ | 480,788,118 | | |||||||||
Liabilities |
||||||||||||||||
Futures |
($1,008,318 | ) | ($1,008,318 | ) | | | ||||||||||
2
Morgan Stanley Quality Municipal Income Trust |
||||
/s/ Randy Takian | ||||
Randy Takian | ||||
Principal Executive Officer |
/s/ Randy Takian | ||||
Randy Takian | ||||
Principal Executive Officer |
/s/ Francis Smith | ||||
Francis Smith | ||||
Principal Financial Officer |
3