Edgar Filing: NUVEEN AMT-FREE MUNICIPAL INCOME FUND

nq2.htm

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 811-21213

Nuveen AMT-Free 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: 7/31/13

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 AMT-Free Municipal Income Fund (NEA)
	July 31, 2013


Principal		Optional Call
Amount (000)	Description (1)	Provisions (2)	Ratings (3)	Value
	Municipal Bonds – 145.4% (100.0% of Total Investments)

	Alabama – 1.6% (1.1% of Total Investments)
$ 1,000	Alabama Special Care Facilities Financing Authority, Revenue Bonds, Ascension Health, Series	11/16 at 100.00	AA+	$ 1,001,430
	2006C-2, 5.000%, 11/15/36 (UB)
2,200	Auburn, Alabama, General Obligation Warrants, Series 2005, 5.000%, 8/01/30 (Pre-refunded	8/15 at 100.00	AA+ (4)	2,400,618
	8/01/15) – AMBAC Insured
5,475	Colbert County-Northwest Health Care Authority, Alabama, Revenue Bonds, Helen Keller Hospital,	6/14 at 100.00	Ba2	5,033,222
	Series 2003, 5.750%, 6/01/27
3,750	Huntsville Healthcare Authority, Alabama, Revenue Bonds, Series 2005A, 5.000%, 6/01/24	6/15 at 100.00	A1 (4)	4,059,938
	(Pre-refunded 6/01/15) – NPFG Insured
	Jefferson County, Alabama, General Obligation Warrants, Series 2004A:
1,395	5.000%, 4/01/22 – NPFG Insured	4/14 at 100.00	A	1,298,006
1,040	5.000%, 4/01/23 – NPFG Insured	4/14 at 100.00	A	963,383
2,590	Montgomery Water and Sewerage Board, Alabama, Water and Sewerage Revenue Bonds, Series 2005,	3/15 at 100.00	AAA	2,779,070
	5.000%, 3/01/25 (Pre-refunded 3/01/15) – AGM Insured
17,450	Total Alabama			17,535,667
	Alaska – 0.2% (0.1% of Total Investments)
2,540	Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds,	6/14 at 100.00	B+	2,032,991
	Series 2006A, 5.000%, 6/01/32
	Arizona – 4.8% (3.3% of Total Investments)
1,460	Apache County Industrial Development Authority, Arizona, Pollution Control Revenue Bonds,	3/22 at 100.00	Baa2	1,379,890
	Tucson Electric Power Company, Series 20102A, 4.500%, 3/01/30
2,455	Arizona Health Facilities Authority, Hospital Revenue Bonds, Banner Health Systems, Series	1/22 at 100.00	AA–	2,428,781
	2012A, 5.000%, 1/01/43
	Arizona State, Certificates of Participation, Series 2010A:
2,800	5.250%, 10/01/28 – AGM Insured	10/19 at 100.00	AA–	2,981,580
3,500	5.000%, 10/01/29 – AGM Insured	10/19 at 100.00	AA–	3,656,345
7,500	Arizona State, State Lottery Revenue Bonds, Series 2010A, 5.000%, 7/01/29 – AGC Insured	1/20 at 100.00	AA	7,842,750
	Phoenix Civic Improvement Corporation, Arizona, Junior Lien Water System Revenue Bonds,
	Series 2005:
4,370	4.750%, 7/01/25 – NPFG Insured	7/15 at 100.00	AAA	4,678,172
12,365	4.750%, 7/01/27 – NPFG Insured (UB)	7/15 at 100.00	AAA	13,003,529
	Phoenix, Arizona, Civic Improvement Revenue Bonds, Civic Plaza, Series 2005B:
6,545	5.500%, 7/01/37 – FGIC Insured	No Opt. Call	AA	6,979,326
5,000	5.500%, 7/01/40 – FGIC Insured	No Opt. Call	AA	5,290,800
3,530	Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc	No Opt. Call	A–	3,384,493
	Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37
49,525	Total Arizona			51,625,666
	Arkansas – 1.6% (1.1% of Total Investments)
5,745	Arkansas Development Finance Authority, State Facility Revenue Bonds, Donaghey Plaza Project,	6/14 at 100.00	AA– (4)	5,985,716
	Series 2004, 5.250%, 6/01/25 (Pre-refunded 6/01/14) – AGM Insured
4,020	Northwest Community College District, Arkansas, General Obligation Bonds, Series 2005, 5.000%,	5/15 at 100.00	A+	4,285,843
	5/15/23 – AMBAC Insured
	University of Arkansas, Fayetteville, Revenue Bonds, Medical Sciences Campus, Series 2004B:
2,000	5.000%, 11/01/27 (Pre-refunded 11/01/14) – NPFG Insured	11/14 at 100.00	Aa2 (4)	2,119,040
2,000	5.000%, 11/01/28 (Pre-refunded 11/01/14) – NPFG Insured	11/14 at 100.00	Aa2 (4)	2,119,040
2,480	University of Arkansas, Monticello Campus, Revenue Bonds, Series 2005, 5.000%, 12/01/35	12/13 at 100.00	Aa2 (4)	2,520,027
	(Pre-refunded 12/01/13) – AMBAC Insured
16,245	Total Arkansas			17,029,666
	California – 20.2% (13.9% of Total Investments)
22,880	Alameda Corridor Transportation Authority, California, Senior Lien Revenue Bonds, Series 1999A,	No Opt. Call	A	8,102,723
	0.000%, 10/01/32 – NPFG Insured
2,735	Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series	4/23 at 100.00	A+	2,765,386
	2013S-4, 5.250%, 4/01/53 (WI/DD, Settling 8/06/13)
	California Department of Water Resources, Water System Revenue Bonds, Central Valley Project,
	Series 2005AC:
20	5.000%, 12/01/24 (Pre-refunded 12/01/14) – NPFG Insured	12/14 at 100.00	AAA	21,283
110	5.000%, 12/01/24 (Pre-refunded 12/01/14) – NPFG Insured	12/14 at 100.00	Aa1 (4)	117,054
1,870	5.000%, 12/01/24 (Pre-refunded 12/01/14) – NPFG Insured	12/14 at 100.00	AAA	1,989,923
10	5.000%, 12/01/26 (Pre-refunded 12/01/14) – NPFG Insured	12/14 at 100.00	AAA	10,641
50	5.000%, 12/01/26 (Pre-refunded 12/01/14)	12/14 at 100.00	Aa1 (4)	53,207
940	5.000%, 12/01/26 (Pre-refunded 12/01/14)	12/14 at 100.00	AAA	1,000,282
1,300	California Educational Facilities Authority, Revenue Bonds, Occidental College, Series 2005A,	10/15 at 100.00	Aa3 (4)	1,427,829
	5.000%, 10/01/33 (Pre-refunded 10/01/15) – NPFG Insured
	California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard
	Children’s Hospital, Series 2012A:
2,000	5.000%, 8/15/51	8/22 at 100.00	AA	1,917,980
3,000	5.000%, 8/15/51 (UB) (5)	8/22 at 100.00	AA	2,876,970
530	California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System,	7/23 at 100.00	AA–	530,387
	Series 2013A, 5.000%, 7/01/37
1,710	California Health Facilities Financing Authority, Revenue Bonds, Scripps Health, Series 2012A,	11/21 at 100.00	AA–	1,674,945
	5.000%, 11/15/40
	California Health Facilities Financing Authority, Revenue Bonds, Stanford Hospitals and
	Clinics, Tender Option Bond Trust 3294:
485	9.461%, 2/15/20 (IF) (5)	No Opt. Call	AA–	445,254
1,285	9.468%, 2/15/20 (IF) (5)	No Opt. Call	AA–	1,179,604
525	9.468%, 2/15/20 (IF) (5)	No Opt. Call	AA–	481,940
5,000	California State Public Works Board, Lease Revenue Bonds, Department of General Services,	10/13 at 100.00	A2	5,010,800
	Capital East End Project, Series 2002A, 5.000%, 12/01/27 – AMBAC Insured
5	California State, General Obligation Bonds, Series 2004, 5.000%, 4/01/31 – AMBAC Insured	4/14 at 100.00	A1	5,095
7,495	California State, General Obligation Bonds, Series 2004, 5.000%, 4/01/31 (Pre-refunded	4/14 at 100.00	AA+ (4)	7,736,339
	4/01/14) – AMBAC Insured
10,000	California Statewide Communities Development Authority, Revenue Bonds, Sutter Health, Series	8/20 at 100.00	AA–	11,243,600
	2011A, 6.000%, 8/15/42
	California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity
	Health System, Series 2005A:
3,895	5.250%, 7/01/30	7/15 at 100.00	BBB–	3,925,498
5,000	5.250%, 7/01/35	7/15 at 100.00	BBB–	5,021,900
5,000	5.000%, 7/01/39	7/15 at 100.00	BBB–	4,953,150
2,910	Cathedral City Public Financing Authority, California, Tax Allocation Bonds, Housing Set-Aside,	8/14 at 100.00	A	2,911,368
	Series 2002D, 5.000%, 8/01/26 – NPFG Insured
4,775	Clovis Unified School District, Fresno County, California, General Obligation Bonds, Series 2001A,	No Opt. Call	AA+ (4)	3,171,507
	0.000%, 8/01/25 – FGIC Insured (ETM)
1,005	Folsom Cordova Unified School District, Sacramento County, California, General Obligation Bonds,	10/14 at 100.00	AA–	1,052,285
	School Facilities Improvement District 2, Series 2004B, 5.000%, 10/01/26 – AGM Insured
31,375	Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Refunding	1/14 at 30.18	A	8,546,236
	Bonds, Series 1999, 0.000%, 1/15/34 – NPFG Insured
1,735	Fullerton Public Financing Authority, California, Tax Allocation Revenue Bonds, Series 2005,	9/15 at 100.00	A	1,770,394
	5.000%, 9/01/27 – AMBAC Insured
15,065	Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement	6/15 at 100.00	A2	14,906,041
	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:
8,790	4.500%, 6/01/27	6/17 at 100.00	B	7,985,451
3,990	5.000%, 6/01/33	6/17 at 100.00	B	3,251,212
250	5.125%, 6/01/47	6/17 at 100.00	B	178,523
3,040	Kern Community College District, California, General Obligation Bonds, Series 2006, 0.000%,	No Opt. Call	Aa2	1,980,378
	11/01/23 – AGM Insured
2,355	La Verne-Grand Terrace Housing Finance Agency, California, Single Family Residential Mortgage	No Opt. Call	Aaa	2,833,324
	Revenue Bonds, Series 1984A, 10.250%, 7/01/17 (ETM)
6,000	Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series	7/22 at 100.00	AA–	6,200,280
	2012B, 5.000%, 7/01/43
4,000	Los Angeles Unified School District, California, General Obligation Bonds, Series 2006F,	7/16 at 100.00	Aa2	4,418,920
	5.000%, 7/01/24 – FGIC Insured
3,545	Mount San Antonio Community College District, Los Angeles County, California, General	8/35 at 100.00	AA	1,559,977
	Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/43 (WI/DD, Settling 8/01/13)
3,510	Newport Beach, California, Revenue Bonds, Hoag Memorial Hospital Presbyterian, Series 2011A,	12/21 at 100.00	AA (4)	4,452,435
	5.875%, 12/01/30 (Pre-refunded 12/01/21)
5,000	Ontario Redevelopment Financing Authority, San Bernardino County, California, Revenue	No Opt. Call	A	5,792,100
	Refunding Bonds, Redevelopment Project 1, Series 1995, 7.400%, 8/01/25 – NPFG Insured
1,745	Orange County Water District, California, Revenue Certificates of Participation, Series 2003B,	No Opt. Call	AAA	1,971,553
	5.000%, 8/15/34 – NPFG Insured (ETM)
1,490	Orange County Water District, California, Revenue Certificates of Participation, Series 2003B,	8/13 at 100.00	AAA	1,494,008
	5.000%, 8/15/34 (Pre-refunded 8/15/13) – NPFG Insured
	Plumas County, California, Certificates of Participation, Capital Improvement Program, Series 2003A:
1,130	5.250%, 6/01/19 – AMBAC Insured	6/14 at 100.00	A	1,143,345
1,255	5.250%, 6/01/21 – AMBAC Insured	6/14 at 100.00	A	1,271,466
7,510	Pomona, California, GNMA/FHLMC Collateralized Single Family Mortgage Revenue Refunding Bonds,	No Opt. Call	Aaa	9,613,176
	Series 1990B, 7.500%, 8/01/23 (ETM)
1,210	Redding Joint Powers Financing Authority, California, Lease Revenue Bonds, Capital Improvement	10/13 at 100.00	A	1,211,016
	Projects, Series 2003A, 5.000%, 3/01/23 – AMBAC Insured
1,800	Rialto Unified School District, San Bernardino County, California, General Obligation Bonds,	No Opt. Call	AA–	788,400
	Series 2011A, 0.000%, 8/01/28
1,000	Rim of the World Unified School District, San Bernardino County, California, General	8/21 at 100.00	AA–	1,014,480
	Obligation Bonds, Series 2011C, 5.000%, 8/01/38 – AGM Insured
390	Riverside County Transportation Commission, California, Toll Revenue Senior Lien Bonds, Series	6/23 at 100.00	BBB–	388,288
	2013A, 5.750%, 6/01/44
735	Sacramento City Financing Authority, California, Capital Improvement Revenue Bonds, Solid	10/13 at 100.00	N/R	735,978
	Waste and Redevelopment Projects, Series 1999, 5.800%, 12/01/19 – AMBAC Insured
7,425	San Bernardino, California, GNMA Mortgage-Backed Securities Program Single Family Mortgage	No Opt. Call	Aaa	9,486,106
	Revenue Refunding Bonds, Series 1990A, 7.500%, 5/01/23 (ETM)
2,250	San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series 2011,	12/21 at 100.00	BB	2,530,553
	7.500%, 12/01/41
	San Diego County, California, Certificates of Participation, Edgemoor Facility Project and
	Regional System, Series 2005:
1,675	5.000%, 2/01/24 – AMBAC Insured	2/15 at 100.00	AA+	1,765,869
720	5.000%, 2/01/25 – AMBAC Insured	2/15 at 100.00	AA+	757,620
4,000	San Francisco Airports Commission, California, Revenue Bonds, San Francisco International	5/23 at 100.00	A+	4,024,240
	Airport, Governmental Purpose, Second Series 2013B, 5.000%, 5/01/43
	San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue
	Refunding Bonds, Series 1997A:
29,000	0.000%, 1/15/31 – NPFG Insured	No Opt. Call	A	9,854,780
3,825	0.000%, 1/15/32 – NPFG Insured	No Opt. Call	A	1,210,995
23,900	0.000%, 1/15/34 – NPFG Insured	No Opt. Call	A	6,627,231
4,000	San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment	8/14 at 100.00	A	4,051,280
	Project, Series 2004A, 5.250%, 8/01/19 – NPFG Insured
12,580	San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment	8/17 at 100.00	A	10,677,904
	Project, Series 2006C, 4.250%, 8/01/30 – NPFG Insured
4,455	San Mateo County Community College District, California, General Obligation Bonds, Series 2006A,	No Opt. Call	Aaa	3,479,711
	0.000%, 9/01/21 – NPFG Insured
1,055	Turlock Irrigation District, California, Certificates of Participation, Series 2003A, 5.000%, 1/01/28 –	1/14 at 100.00	A+	1,056,403
	NPFG Insured
3,600	Ventura County Community College District, California, General Obligation Bonds, Series 2005B,	8/15 at 100.00	AA	3,805,452
	5.000%, 8/01/28 – NPFG Insured
3,900	West Hills Community College District, California, General Obligation Bonds, School Facilities	8/21 at 100.00	AA–	4,363,632
	Improvement District 3, 2008 Election Series 2011, 6.500%, 8/01/41 – AGM Insured
293,840	Total California			216,825,707
	Colorado – 8.2% (5.6% of Total Investments)
	Bowles Metropolitan District, Colorado, General Obligation Bonds, Series 2003:
4,300	5.500%, 12/01/23 – AGM Insured	12/13 at 100.00	AA–	4,362,307
3,750	5.500%, 12/01/28 – AGM Insured	12/13 at 100.00	AA–	3,766,725
1,450	Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds,	8/14 at 100.00	A	1,474,665
	Peak-to-Peak Charter School, Series 2004, 5.250%, 8/15/24 – SYNCORA GTY Insured
3,405	Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Classical Academy	12/13 at 100.00	A	3,419,676
	Charter School, Series 2003, 5.250%, 12/01/23 – SYNCORA GTY Insured
7,500	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives,	4/18 at 100.00	AA–	7,479,750
	Series 2006C-1, Trust 1090, 15.462%, 10/01/41 – AGM Insured (IF) (5)
2,915	Commerce City Northern Infrastructure General Improvement District, Colorado, General	12/22 at 100.00	AA–	3,116,980
	Obligation Bonds, Series 2013, 5.000%, 12/01/27 – AGM Insured
4,835	Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B,	11/23 at 100.00	A	4,782,540
	5.000%, 11/15/43
16,095	Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel,	12/13 at 100.00	N/R (4)	16,352,037
	Senior Lien Series 2003A, 5.000%, 12/01/33 (Pre-refunded 12/01/13) – SYNCORA GTY Insured
	Denver School District 1, Colorado, General Obligation Bonds, Series 2004:
1,000	5.000%, 12/01/18 (Pre-refunded 12/01/13) – AGM Insured	12/13 at 100.00	Aa2 (4)	1,015,970
125	5.000%, 12/01/18 (Pre-refunded 12/01/13) – AGM Insured	12/13 at 100.00	AA+ (4)	127,009
35,285	E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B, 0.000%, 9/01/30 –	No Opt. Call	A	13,463,697
	NPFG Insured
2,900	E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004A, 0.000%, 9/01/34 –	No Opt. Call	A	842,450
	NPFG Insured
4,405	Garfield, Eagle and Pitkin Counties School District RE-1, Roaring Fork, Colorado, General	12/14 at 100.00	Aa2 (4)	4,694,364
	Obligation Bonds, Series 2005A, 5.000%, 12/15/24 (Pre-refunded 12/15/14) – AGM Insured
	Jefferson County School District R1, Colorado, General Obligation Bonds, Series 2004:
2,500	5.000%, 12/15/22 (Pre-refunded 12/15/14) – AGM Insured	12/14 at 100.00	Aa2 (4)	2,664,950
5,125	5.000%, 12/15/23 (Pre-refunded 12/15/14) – AGM Insured	12/14 at 100.00	Aa2 (4)	5,463,148
4,065	5.000%, 12/15/24 (Pre-refunded 12/15/14) – AGM Insured	12/14 at 100.00	Aa2 (4)	4,333,209
2,640	Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue	12/20 at 100.00	AA–	2,818,596
	Refunding Bonds, Series 2011, 6.125%, 12/01/41 – AGM Insured
1,390	Teller County School District RE-2, Woodland Park, Colorado, General Obligation Bonds, Series	12/14 at 100.00	Aa2 (4)	1,479,141
	2004, 5.000%, 12/01/22 (Pre-refunded 12/01/14) – NPFG Insured
4,000	University of Colorado Hospital Authority, Colorado, Revenue Bonds, Series 2012A, 5.000%, 11/15/42	11/22 at 100.00	A+	4,001,160
25	University of Colorado, Enterprise System Revenue Bonds, Series 2005, 5.000%, 6/01/30 –	6/15 at 100.00	Aa2	26,187
	FGIC Insured
	University of Colorado, Enterprise System Revenue Bonds, Series 2005:
1,285	5.000%, 6/01/30 (Pre-refunded 6/01/15) – FGIC Insured	6/15 at 100.00	Aa2 (4)	1,389,972
690	5.000%, 6/01/30 (Pre-refunded 6/01/15) – FGIC Insured	6/15 at 100.00	Aa2 (4)	746,366
109,685	Total Colorado			87,820,899
	Delaware – 0.3% (0.2% of Total Investments)
3,250	Delaware Health Facilities Authority, Revenue Bonds, Nanticoke Memorial Hospital, Series 2013,	7/23 at 100.00	BBB–	2,929,388
	5.000%, 7/01/32
	District of Columbia – 1.1% (0.8% of Total Investments)
1,250	District of Columbia Student Dormitory Revenue Bonds, Provident Group – Howard Properties LLC	10/22 at 100.00	BBB–	1,079,000
	Issue, Series 2013, 5.000%, 10/01/45
10,150	District of Columbia, Revenue Bonds, Georgetown University, Series 2007A, 0.000%, 4/01/40 –	4/21 at 100.00	A–	6,924,939
	AMBAC Insured
7,000	Metropolitan Washington Airports Authority, District of Columbia, Dulles Toll Road Revenue	No Opt. Call	AA–	1,808,730
	Bonds, Capital Appreciation Series 2009B-2, 0.000%, 10/01/36 – AGC Insured
2,395	Washington Convention Center Authority, District of Columbia, Dedicated Tax Revenue Bonds,	10/16 at 100.00	AA+	2,415,597
	Tender Option Bond Trust 1606, 11.776%, 10/01/30 – AMBAC Insured (IF) (5)
20,795	Total District of Columbia			12,228,266
	Florida – 10.5% (7.2% of Total Investments)
1,000	Bay County, Florida, Water System Revenue Bonds, Series 2005, 5.000%, 9/01/25 – AMBAC Insured	9/15 at 100.00	A1	1,076,110
11,000	Cape Coral, Florida, Water and Sewer Revenue Bonds, Refunding Series 2011, 5.000%, 10/01/41 –	10/21 at 100.00	AA–	11,118,690
	AGM Insured
	Clay County, Florida, Utility System Revenue Bonds, Series 2007:
1,500	5.000%, 11/01/27 – AGM Insured (UB)	11/17 at 100.00	Aa2	1,599,540
3,000	5.000%, 11/01/32 – AGM Insured (UB)	11/17 at 100.00	Aa2	3,085,740
400	Collier County, Florida, Capital Improvement Revenue Bonds, Series 2005, 5.000%, 10/01/23	10/14 at 100.00	AA– (4)	421,200
	(Pre-refunded 10/01/14) – NPFG Insured
1,525	Fernandina Beach, Florida, Utility Acquisition and Improvement Revenue Bonds, Series 2003,	9/13 at 100.00	N/R	1,531,009
	5.000%, 9/01/23 – FGIC Insured
500	Flagler County, Florida, Capital Improvement Revenue Bonds, Series 2005, 5.000%, 10/01/30 –	10/15 at 100.00	A	505,640
	NPFG Insured
55	Florida Housing Finance Agency, GNMA Collateralized Home Ownership Revenue Refunding Bonds,	No Opt. Call	AA+	59,467
	Series 1987G-1, 8.595%, 11/01/17
2,100	Florida Municipal Loan Council, Revenue Bonds, Series 2005A, 5.000%, 2/01/23	2/15 at 100.00	A	2,197,566
185	Florida Municipal Loan Council, Revenue Bonds, Series 2005A, 5.000%, 2/01/23	2/15 at 100.00	A (4)	197,473
	(Pre-refunded 2/01/15)
2,500	Florida State Board of Education, Public Education Capital Outlay Bonds, Tender Option Bond	No Opt. Call	AAA	2,832,450
	Trust 2929, 17.409%, 12/01/16 – AGC Insured (IF) (5)
2,240	FSU Financial Assistance Inc., Florida, General Revenue Bonds, Educational and Athletic	No Opt. Call	A1	2,356,614
	Facilities Improvements, Series 2004, 5.000%, 10/01/14 – AMBAC Insured
105	Greater Orlando Aviation Authority, Florida, Airport Facilities Revenue Refunding Bonds,	10/13 at 100.00	AA–	105,777
	Series 2003A, 5.000%, 10/01/17 – AGM Insured
350	Halifax Hospital Medical Center, Florida, Revenue Bonds, Series 2006, 5.500%, 6/01/38 –	6/18 at 100.00	AA–	354,781
	AGM Insured
1,765	Highlands County Health Facilities Authority, Florida, Hospital Revenue Bonds, Adventist	11/15 at 100.00	AA–	1,769,977
	Health System, Series 2005D, 5.000%, 11/15/35 – NPFG Insured
180	Highlands County Health Facilities Authority, Florida, Hospital Revenue Bonds, Adventist	11/15 at 100.00	AA– (4)	198,292
	Health System, Series 2005D, 5.000%, 11/15/35 (Pre-refunded 11/15/15) – NPFG Insured
3,500	Highlands County Health Facilities Authority, Florida, Hospital Revenue Bonds, Adventist Health	11/13 at 100.00	N/R (4)	3,555,510
	System/Sunbelt Obligated Group, Series 2003D, 5.875%, 11/15/29 (Pre-refunded 11/15/13)
400	Jacksonville, Florida, Better Jacksonville Sales Tax Revenue Bonds, Refunding Series 2012,	10/22 at 100.00	A1	413,040
	5.000%, 10/01/30
1,530	Lakeland, Florida, Hospital System Revenue Bonds, Lakeland Regional Health, Refunding Series	11/21 at 100.00	A2	1,620,469
	2011, 5.000%, 11/15/24
1,730	Lee County, Florida, Transportation Facilities Revenue Bonds, Series 2004B, 5.000%, 10/01/22 –	10/14 at 100.00	A–	1,800,048
	AMBAC Insured
500	Lee Memorial Health System, Florida, Hospital Revenue Bonds, Series 2007A, 5.000%, 4/01/32 –	4/17 at 100.00	A	500,380
	NPFG Insured
3,000	Marco Island, Florida, Water Utility System Revenue Bonds, Series 2003, 5.000%, 10/01/27 –	10/13 at 100.00	Aa3	3,015,570
	NPFG Insured
1,200	Miami, Florida, Special Obligation Non-Ad Valorem Revenue Refunding Bonds, Series 2011A,	2/21 at 100.00	AA–	1,305,552
	6.000%, 2/01/30 – AGM Insured
10,000	Miami-Dade County Expressway Authority, Florida, Toll System Revenue Bonds, Series 2010A,	7/20 at 100.00	AA–	10,180,900
	5.000%, 7/01/35
6,350	Miami-Dade County School Board, Florida, Certificates of Participation, Series 2006A, 5.000%,	11/16 at 100.00	AA+	6,555,613
	11/01/31 – AGM Insured
4,000	Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010B,	10/20 at 100.00	AA–	4,081,800
	5.000%, 10/01/35 – AGM Insured
5,720	Miami-Dade County, Florida, General Obligation Bonds, Series 2005, 5.000%, 7/01/33 –	7/15 at 100.00	Aa2	5,905,385
	AGM Insured
600	Miami-Dade County, Florida, Subordinate Special Obligation Refunding Bonds Series 2012B,	10/22 at 100.00	A+	590,040
	5.000%, 10/01/37
3,175	Miami-Dade County, Florida, Transit System Sales Surtax Revenue Bonds, Series 2012,	7/22 at 100.00	AA	3,218,180
	5.000%, 7/01/42
500	Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Refunding Series 2008B,	No Opt. Call	AA–	579,885
	5.250%, 10/01/22 – AGM Insured
5,770	Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2013A, 5.000%,	10/22 at 100.00	Aa3	5,824,527
	10/01/42 (WI/DD, Settling 8/02/13)
1,500	Orange County Health Facilities Authority, Florida, Hospital Revenue Bonds, Orlando Health, Inc.,	4/22 at 100.00	A	1,462,800
	Series 2012A, 5.000%, 10/01/42
3,335	Palm Bay, Florida, Local Optional Gas Tax Revenue Bonds, Series 2004, 5.250%, 10/01/20 –	10/14 at 100.00	AA–	3,508,754
	NPFG Insured
1,095	Palm Bay, Florida, Utility System Revenue Bonds, Series 2004, 5.250%, 10/01/20 – NPFG Insured	10/14 at 100.00	Aa3	1,153,506
1,000	Port Saint Lucie, Florida, Special Assessment Revenue Bonds, Southwest Annexation District 1B,	7/17 at 100.00	A	1,005,250
	Series 2007, 5.000%, 7/01/33 – NPFG Insured
2,115	Port St. Lucie, Florida, Sales Tax Revenue Bonds, Series 2003, 5.000%, 9/01/23 – NPFG Insured	9/13 at 100.00	A+	2,123,439
480	Port St. Lucie, Florida, Utility System Revenue Bonds, Refunding Series 2009, 5.250%, 9/01/35 –	9/18 at 100.00	AA–	510,557
	AGC Insured
4,240	Reedy Creek Improvement District, Florida, Utility Revenue Bonds, Series 2003-1, 5.250%,	10/13 at 100.00	A1 (4)	4,275,955
	10/01/17 (Pre-refunded 10/01/13) – NPFG Insured
4,000	Saint Lucie County School Board, Florida, Certificates of Participation, Master Lease Program,	7/14 at 100.00	AA– (4)	4,175,160
	Series 2004A, 5.000%, 7/01/24 (Pre-refunded 7/01/14) – AGM Insured
1,730	St. John’s County, Florida, Sales Tax Revenue Bonds, Series 2004A, 5.000%, 10/01/24	10/14 at 100.00	A+ (4)	1,824,718
	(Pre-refunded 10/01/14) – AMBAC Insured
2,000	Tallahassee, Florida, Energy System Revenue Bonds, Series 2005, 5.000%, 10/01/28 – NPFG Insured	10/15 at 100.00	AA	2,105,520
1,200	Tamarac, Florida, Utility System Revenue Bonds, Series 2009, 5.000%, 10/01/39 – AGC Insured	10/19 at 100.00	Aa2	1,245,672
7,720	Tampa-Hillsborough County Expressway Authority, Florida, Revenue Bonds, Refunding Series	No Opt. Call	A–	7,741,693
	2012B, 5.000%, 7/01/42
1,500	Volusia County Educational Facilities Authority, Florida, Educational Facilities Revenue Bonds,	10/21 at 100.00	AA–	1,536,405
	Embry-Riddle Aeronautical University, Inc. Project, Refunding Series 2011, 5.000%, 10/15/29 –
	AGM Insured
1,250	Volusia County Educational Facilities Authority, Florida, Revenue Refunding Bonds,	10/13 at 100.00	A–	1,249,863
	Embry-Riddle Aeronautical University, Series 2003, 5.200%, 10/15/33 – RAAI Insured
109,545	Total Florida			112,476,517
	Georgia – 3.0% (2.1% of Total Investments)
2,700	Atlanta, Georgia, Airport General Revenue Bonds, Series 2004G, 5.000%, 1/01/25 – AGM Insured	1/15 at 100.00	AA–	2,822,796
6,950	Atlanta, Georgia, Airport General Revenue Refunding Bonds, Series 2010A, 5.000%, 1/01/40 –	1/20 at 100.00	AA–	7,052,513
	AGM Insured
3,000	Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2009B, 5.375%, 11/01/39 –	11/19 at 100.00	AA–	3,083,820
	AGM Insured
1,535	Cherokee County Water and Sewerage Authority, Georgia, Revenue Bonds, Refunding Series 2007,	8/20 at 100.00	AA	1,562,461
	4.000%, 8/01/26
4,000	Cobb County Development Authority, Georgia, Parking Revenue Bonds, Kennesaw State University,	7/14 at 100.00	A1	4,169,920
	Series 2004, 5.000%, 7/15/24 – NPFG Insured
1,410	DeKalb County, Georgia, Water and Sewer Revenue Bonds, Series 2006A, 5.000%, 10/01/35 –	10/16 at 100.00	Aa2	1,426,271
	AGM Insured
1,075	Greene County Development Authority, Georgia, Health System Revenue Bonds, Catholic Health	No Opt. Call	A+	925,812
	East Issue, Series 2012, 4.250%, 11/15/42
2,805	Gwinnett County School District, Georgia, General Obligation Bonds, Series 2008, 5.000%, 2/01/36	2/18 at 100.00	AAA	2,968,840
1,350	Henry County Water and Sewerage Authority, Georgia, Revenue Bonds, Series 2005, 5.250%,	No Opt. Call	AA+	1,572,602
	2/01/27 – BHAC Insured
	Municipal Electric Authority of Georgia, Combustion Turbine Revenue Bonds, Series 2003A:
1,775	5.000%, 11/01/21 – NPFG Insured	11/13 at 100.00	A1	1,793,212
2,580	5.000%, 11/01/22 – NPFG Insured	11/13 at 100.00	A1	2,605,619
2,615	Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia	10/21 at 100.00	Aa2	2,575,958
	Medical Center Project, Series 2011B, 5.000%, 10/01/41
31,795	Total Georgia			32,559,824
	Hawaii – 0.0% (0.0% of Total Investments)
	Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific
	University, Series 2013A:
200	6.625%, 7/01/33	7/23 at 100.00	N/R	200,092
125	6.875%, 7/01/43	7/23 at 100.00	BB+	125,190
325	Total Hawaii			325,282
	Idaho – 0.3% (0.2% of Total Investments)
3,075	Idaho Health Facilities Authority, Revenue Bonds, Saint Luke’s Health System Project, Series	3/22 at 100.00	A	2,970,573
	2012A, 5.000%, 3/01/47 – AGM Insured
	Illinois – 12.1% (8.3% of Total Investments)
4,000	Bolingbrook, Illinois, General Obligation Refunding Bonds, Series 2002B, 0.000%, 1/01/34 –	No Opt. Call	Aa3	1,302,960
	FGIC Insured
4,345	Chicago Board of Education, Illinois, General Obligation Lease Certificates, Series 1992A,	No Opt. Call	A	4,501,463
	6.250%, 1/01/15 – NPFG Insured
3,500	Chicago Transit Authority, Illinois, Capital Grant Receipts Revenue Bonds, Federal Transit	6/21 at 100.00	AA–	3,760,120
	Administration Section 5307 Urbanized Area Formula Funds, Refunding Series 2011, 5.250%,
	6/01/26 – AGM Insured
13,100	Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Third Lien	1/20 at 100.00	AA–	13,277,243
	Refunding Series 2010C, 5.250%, 1/01/35 – AGC Insured
1,450	Chicago, Illinois, Third Lien General Airport Revenue Bonds, O’Hare International Airport,	1/16 at 100.00	A	1,557,402
	Series 2005A, 5.250%, 1/01/24 – NPFG Insured
	Cook County School District 145, Arbor Park, Illinois, General Obligation Bonds, Series 2004:
1,650	5.125%, 12/01/20 – AGM Insured (ETM)	12/14 at 100.00	A2 (4)	1,713,459
1,475	5.125%, 12/01/23 – AGM Insured (ETM)	12/14 at 100.00	A2 (4)	1,517,008
	Cook County School District 145, Arbor Park, Illinois, General Obligation Bonds, Series 2004:
1,635	5.125%, 12/01/20 (Pre-refunded 12/01/14) – AGM Insured	12/14 at 100.00	A2 (4)	1,742,125
1,465	5.125%, 12/01/23 (Pre-refunded 12/01/14) – AGM Insured	12/14 at 100.00	A2 (4)	1,560,987
21,860	Illinois Development Finance Authority, Local Government Program Revenue Bonds, Kane, Cook and	No Opt. Call	Aa3	20,217,002
	DuPage Counties School District U46 – Elgin, Series 2002, 0.000%, 1/01/17 – AGM Insured
750	Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2012, 5.000%, 9/01/38	9/22 at 100.00	A–	724,493
5,020	Illinois Finance Authority, Revenue Bonds, Advocate Health Care Network, Series 2012,	No Opt. Call	AA	4,936,819
	5.000%, 6/01/42
2,910	Illinois Finance Authority, Revenue Bonds, Ingalls Health System, Series 2013, 5.000%, 5/15/43	5/22 at 100.00	Baa1	2,683,806
1,015	Illinois Finance Authority, Revenue Bonds, Rehabilitation Institute of Chicago, Series 2013A,	7/23 at 100.00	A–	1,044,354
	6.000%, 7/01/43
3,560	Illinois Finance Authority, Revenue Bonds, The Carle Foundation, Series 2011A, 6.000%, 8/15/41 –	8/21 at 100.00	AA–	3,794,426
	AGM Insured
1,000	Illinois Finance Authority, Revenue Bonds, The University of Chicago Medical Center, Series	2/21 at 100.00	AA–	1,037,420
	2011C, 5.500%, 8/15/41
9,510	Illinois Finance Authority, Revenue Bonds, The University of Chicago, Series 2012A,	10/21 at 100.00	Aa1	9,413,283
	5.000%, 10/01/51
5,045	Illinois Health Facilities Authority, Revenue Bonds, Lutheran General Health System, Series	No Opt. Call	AA– (4)	5,791,710
	1993A, 6.250%, 4/01/18 – AGM Insured (ETM)
1,950	Illinois Health Facilities Authority, Revenue Refunding Bonds, SSM Healthcare System, Series	No Opt. Call	AA– (4)	2,051,264
	1992AA, 6.550%, 6/01/14 – NPFG Insured (ETM)
6,500	Illinois Municipal Electric Agency, Power Supply System Revenue Bonds, Series 2007A, 5.000%,	2/17 at 100.00	A+	6,502,080
	2/01/35 – FGIC Insured
	Illinois State, General Obligation Bonds, Series 2012A:
2,500	5.000%, 3/01/25	3/22 at 100.00	A–	2,578,575
4,500	5.000%, 3/01/27	3/22 at 100.00	A–	4,535,775
1,125	Illinois State, General Obligation Bonds, Series 2013, 5.500%, 7/01/38	7/23 at 100.00	A–	1,136,936
5,000	Macon County School District 61 Decatur, Illinois, General Obligation Bonds, Series 2011A,	1/21 at 100.00	A2	5,154,550
	5.250%, 1/01/39 – AGM Insured
5,000	Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project	6/22 at 100.00	AAA	5,010,150
	Refunding Bonds, Series 2012B, 5.000%, 6/15/52 (UB) (5)
	Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion
	Project, Capital Appreciation Refunding Series 2010B-1:
33,000	0.000%, 6/15/45 – AGM Insured	No Opt. Call	AAA	4,816,680
20,000	0.000%, 6/15/46 – AGM Insured	No Opt. Call	AAA	2,739,400
5,725	Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion	6/22 at 101.00	AAA	4,891,726
	Project, Series 2002A, 0.000%, 6/15/27 – NPFG Insured
5,010	Metropolitan Pier and Exposition Authority, Illinois, Revenue Refunding Bonds, McCormick Place	No Opt. Call	AA–	3,764,464
	Expansion Project, Series 1996A, 0.000%, 12/15/21 – NPFG Insured
3,500	Schaumburg, Illinois, General Obligation Bonds, Series 2004B, 5.000%, 12/01/41 (Pre-refunded	12/14 at 100.00	AAA	3,720,570
	12/01/14) – AGM Insured
1,895	Williamson & Johnson Counties Community Unit School District 2, Marion, Illinois, General	12/20 at 100.00	AA–	2,165,151
	Obligation Bonds, Series 2011, 7.250%, 12/01/28 – AGM Insured
178,995	Total Illinois			129,643,401
	Indiana – 6.0% (4.1% of Total Investments)
	Hamilton County Public Building Corporation, Indiana, First Mortgage Bonds, Series 2004:
2,105	5.000%, 8/01/23 (Pre-refunded 8/01/14) – AGM Insured	8/14 at 100.00	Aaa	2,206,145
2,215	5.000%, 8/01/24 (Pre-refunded 8/01/14) – AGM Insured	8/14 at 100.00	Aaa	2,321,431
4,080	Indiana Finance Authority, Hospital Revenue Bonds, Community Health Network Project, Series	5/23 at 100.00	A	3,914,556
	2012A, 5.000%, 5/01/42
1,500	Indiana Finance Authority, Midwestern Disaster Relief Revenue Bonds, Ohio Valley Electric	6/22 at 100.00	BBB–	1,404,945
	Corporation Project, Series 2012A, 5.000%, 6/01/39 – AGM Insured
10,000	Indiana Finance Authority, Revenue Bonds, Trinity Health Care Group, Refunding Series 2009A,	12/19 at 100.00	AA	10,285,500
	5.250%, 12/01/38 (UB)
5,000	Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series	10/21 at 100.00	AA–	5,012,950
	2011B, 5.000%, 10/01/41
3,075	Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series	10/22 at 100.00	AA	3,129,120
	2012A, 5.000%, 10/01/37
2,045	Indiana Health Facility Financing Authority, Revenue Bonds, Community Hospitals of Indiana,	5/15 at 100.00	A (4)	2,210,072
	Series 2005A, 5.000%, 5/01/35 (Pre-refunded 5/01/15) – AMBAC Insured
8,310	Indiana Municipal Power Agency, Power Supply Revenue Bonds, Series 2007A, 5.000%, 1/01/42 –	1/17 at 100.00	A+	8,327,700
	NPFG Insured
	Indiana University, Parking Facility Revenue Bonds, Series 2004:
1,015	5.250%, 11/15/19 (Pre-refunded 11/15/14) – AMBAC Insured	11/14 at 100.00	Aaa	1,080,945
1,060	5.250%, 11/15/20 (Pre-refunded 11/15/14) – AMBAC Insured	11/14 at 100.00	Aaa	1,128,868
1,100	5.250%, 11/15/21 (Pre-refunded 11/15/14) – AMBAC Insured	11/14 at 100.00	Aaa	1,171,467
9,255	Indianapolis Local Public Improvement Bond Bank, Indiana, Series 1999E, 0.000%, 2/01/25 –	No Opt. Call	AA	5,993,353
	AMBAC Insured
	Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project Series 2009A:
3,000	5.500%, 1/01/38 – AGC Insured	1/19 at 100.00	AA–	3,147,090
5,000	5.500%, 1/01/38 – AGC Insured (UB)	1/19 at 100.00	AA–	5,245,150
1,000	Metropolitan School District Steuben County K-5 Building Corporation, Indiana, First Mortgage	7/14 at 102.00	AA–	1,064,160
	Bonds, Series 2003, 5.250%, 1/15/21 – AGM Insured
7,860	Saint Joseph County Hospital Authority, Indiana, Revenue Bonds, Beacon Health System	8/23 at 100.00	AA–	6,211,915
	Obligated Group, Series 2013C, 4.000%, 8/15/44
500	Vigo County Hospital Authority, Indiana, Revenue Bonds, Union Hospital, Series 2007,	9/17 at 100.00	N/R	496,140
	5.800%, 9/01/47
68,120	Total Indiana			64,351,507
	Iowa – 1.5% (1.0% of Total Investments)
4,000	Ames, Iowa, Hospital Revenue Bonds, Mary Greeley Medical Center, Series 2011, 5.250%, 6/15/36	6/20 at 100.00	A2	4,030,720
425	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company	12/23 at 100.00	BB–	403,856
	Project, Series 2013, 5.250%, 12/01/25
	Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C:
7,125	5.375%, 6/01/38	6/15 at 100.00	B+	5,827,181
185	5.625%, 6/01/46	6/15 at 100.00	B+	152,033
6,600	Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B,	6/17 at 100.00	B+	5,677,914
	5.600%, 6/01/34
18,335	Total Iowa			16,091,704
	Kansas – 0.2% (0.1% of Total Investments)
630	Kansas Development Finance Authority, Board of Regents, Revenue Bonds, Scientific Research and	4/14 at 101.50	AA	645,019
	Development Facilities Projects, Series 2003C, Reg S, 5.000%, 10/01/22 – AMBAC Insured
	Neosho County Unified School District 413, Kansas, General Obligation Bonds, Series 2006:
470	5.000%, 9/01/31 (Pre-refunded 9/01/14) – AGM Insured	9/14 at 100.00	A2 (4)	494,285
515	5.000%, 9/01/31 (Pre-refunded 9/01/14)	9/14 at 100.00	A2 (4)	541,785
1,615	Total Kansas			1,681,089
	Kentucky – 0.7% (0.5% of Total Investments)
6,010	Kentucky Economic Development Finance Authority, Health System Revenue Bonds, Norton	No Opt. Call	A	2,674,630
	Healthcare Inc., Series 2000B, 0.000%, 10/01/28 – NPFG Insured
5,000	Kentucky Municipal Power Agency, Power Supply System Revenue Bonds, Prairie State Project	9/17 at 100.00	A	5,023,600
	Series 2007A, 5.000%, 9/01/37 – NPFG Insured
11,010	Total Kentucky			7,698,230
	Louisiana – 4.4% (3.0% of Total Investments)
4,690	Ascension Parish Industrial development Board, Louisiana, Revenue Bonds, Impala Warehousing	7/23 at 100.00	N/R	4,332,622
	(US) LLC Project, Series 2013, 6.000%, 7/01/36
670	Jefferson Parish Hospital District1, Louisiana, Hospital Revenue Bonds, West Jefferson Medical	1/21 at 100.00	AA–	710,850
	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–	5,243,750
	Inc. Project, Series 2010, 5.500%, 10/01/41 – AGM Insured
4,455	Louisiana Public Facilities Authority, Revenue Bonds, Baton Rouge General Hospital, Series	7/14 at 100.00	A (4)	4,649,327
	2004, 5.250%, 7/01/24 (Pre-refunded 7/01/14) – NPFG Insured
4,205	Louisiana Stadium and Exposition District, Revenue Refunding Bonds, Senior Lien Series 2013A,	7/23 at 100.00	A	4,208,070
	5.000%, 7/01/36
2,000	Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Second Lien Series 2010B,	5/20 at 100.00	AA	2,024,980
	5.000%, 5/01/45
	Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2005A:
1,010	5.000%, 5/01/25 (Pre-refunded 5/01/15) – FGIC Insured	5/15 at 100.00	Aa1 (4)	1,090,598
2,210	5.000%, 5/01/26 (Pre-refunded 5/01/15) – FGIC Insured	5/15 at 100.00	Aa1 (4)	2,386,358
	Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2006A:
8,480	4.750%, 5/01/39 – AGM Insured (UB)	5/16 at 100.00	Aa1	8,483,731
14,265	4.500%, 5/01/41 – FGIC Insured (UB)	5/16 at 100.00	Aa1	13,845,752
46,985	Total Louisiana			46,976,038
	Maine – 0.1% (0.1% of Total Investments)
1,010	Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical	7/23 at 100.00	Baa1	987,719
	Center Obligated Group Issue, Series 2013, 5.000%, 7/01/43
	Maryland – 0.5% (0.4% of Total Investments)
1,865	Baltimore, Maryland, Senior Lien Convention Center Hotel Revenue Bonds, Series 2006A, 5.250%,	9/16 at 100.00	BB+	1,863,172
	9/01/26 – SYNCORA GTY Insured
1,200	Maryland Economic Development Corporation, Student Housing Revenue Refunding Bonds, University	6/16 at 100.00	AA–	1,211,592
	of Maryland College Park Projects, Series 2006, 5.000%, 6/01/28 – CIFG Insured
2,705	Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of	7/22 at 100.00	A2	2,653,416
	Maryland Medical System Issue, Series 2013A, 5.000%, 7/01/43
5,770	Total Maryland			5,728,180
	Massachusetts – 3.8% (2.6% of Total Investments)
5,500	Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds,	1/20 at 100.00	AA+	5,701,190
	Commonwealth Contract Assistance Secured, Refunding Series 2010B, 5.000%, 1/01/35
1,430	Massachusetts Development Finance Agency, Resource Recovery Revenue Refunding Bonds, Covanta	11/17 at 100.00	BB+	1,202,430
	Energy Project, Series 2012B, 4.875%, 11/01/42
1,125	Massachusetts Development Finance Authority, Revenue Bonds, Middlesex School, Series 2003,	9/13 at 100.00	A1	1,128,960
	5.125%, 9/01/23
3,000	Massachusetts Development Finance Authority, Revenue Bonds, WGBH Educational Foundation,	No Opt. Call	A	3,271,710
	Series 2002A, 5.750%, 1/01/42 – AMBAC Insured
3,335	Massachusetts Health and Education Facilities Authority, Revenue Bonds, Partners HealthCare	7/19 at 100.00	AA	3,493,279
	System, Tender Option Bond Trust 3627, 13.686%, 7/01/29 (IF)
4,400	Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Series 2005A,	8/15 at 100.00	AA+ (4)	4,804,492
	5.000%, 8/15/23 (Pre-refunded 8/15/15) – AGM Insured (UB)
3,335	Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Tender Option Bond	8/17 at 100.00	AA+	3,543,071
	Trust 3091, 13.660%, 8/15/37 – AGM Insured (IF)
7,500	Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Tender Option Bond	No Opt. Call	AA+	9,734,850
	Trust 14021, 9.478%, 2/15/20 (IF)
	Massachusetts State, Special Obligation Dedicated Tax Revenue Bonds, Series 2004:
3,650	5.250%, 1/01/22 (Pre-refunded 1/01/14) – FGIC Insured	1/14 at 100.00	A1 (4)	3,726,322
2,000	5.250%, 1/01/24 (Pre-refunded 1/01/14) – FGIC Insured	1/14 at 100.00	A1 (4)	2,041,820
1,725	Massachusetts Water Resources Authority, General Revenue Bonds, Series 2007A, 4.500%, 8/01/46 –	2/17 at 100.00	AA+	1,724,569
	AGM Insured (UB) (5)
500	Springfield Water and Sewerage Commission, Massachusetts, General Revenue Bonds, Refunding	11/20 at 100.00	AA–	528,720
	Series 2010B, 5.000%, 11/15/30 – AGC Insured
37,500	Total Massachusetts			40,901,413
	Michigan – 2.4% (1.6% of Total Investments)
1,220	Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds,	7/22 at 100.00	BBB+	1,118,337
	Refunding Senior Lien Series 2012A, 5.250%, 7/01/39
10,000	Detroit, Michigan, Water Supply System Revenue Bonds, Senior Lien Series 2011A, 5.250%, 7/01/41	7/21 at 100.00	BB–	9,166,100
4,465	Detroit, Michigan, Water Supply System Senior Lien Revenue Refunding Bonds, Series 2003C,	10/13 at 100.00	A	4,327,433
	5.000%, 7/01/22 – NPFG Insured
1,315	Michigan Public Power Agency, AFEC Project Revenue Bonds, Series 2012A, 5.000%, 1/01/43	1/22 at 100.00	A2	1,279,403
2,000	Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Series	6/22 at 100.00	AA	1,926,100
	2009C, 5.000%, 12/01/48
	Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Series 2006A:
180	5.000%, 12/01/31 (Pre-refunded 12/01/16) (UB)	12/16 at 100.00	N/R (4)	204,093
820	5.000%, 12/01/31 (UB)	12/16 at 100.00	AA	827,708
6,500	Wayne Charter County, Michigan, Limited Tax General Obligation Airport Hotel Revenue Bonds,	10/13 at 100.00	A	6,499,935
	Detroit Metropolitan Wayne County Airport, Series 2001A, 5.000%, 12/01/30 – NPFG Insured
26,500	Total Michigan			25,349,109
	Minnesota – 0.1% (0.1% of Total Investments)
870	Wayzata, Minnesota, Senior Housing Entrance Deposit Revenue Bonds, Folkestone Senior Living	5/14 at 100.00	N/R	874,185
	Community, Series 2012B, 4.875%, 5/01/19
	Missouri – 0.6% (0.4% of Total Investments)
240	Clay County Public School District 53, Liberty, Missouri, General Obligation Bonds, Series 2004,	3/14 at 100.00	AA+	246,300
	5.250%, 3/01/24 – AGM Insured
215	Clay County Public School District 53, Liberty, Missouri, General Obligation Bonds, Series 2004,	3/14 at 100.00	AA+	220,835
	5.250%, 3/01/23 – AGM Insured
	Clay County Public School District 53, Liberty, Missouri, General Obligation Bonds, Series 2004:
1,110	5.250%, 3/01/23 (Pre-refunded 3/01/14) – AGM Insured	3/14 at 100.00	AA+ (4)	1,142,889
1,260	5.250%, 3/01/24 (Pre-refunded 3/01/14) – AGM Insured	3/14 at 100.00	AA+ (4)	1,297,334
1,000	Jackson County Reorganized School District R-7, Lees Summit, Missouri, General Obligation	3/16 at 100.00	Aa1	1,106,250
	Bonds, Series 2006, 5.250%, 3/01/25 – NPFG Insured
	Missouri Western State College, Auxiliary System Revenue Bonds, Series 2003:
2,000	5.000%, 10/01/21 (Pre-refunded 10/01/13) – NPFG Insured	10/13 at 100.00	A (4)	2,015,860
750	5.000%, 10/01/33 (Pre-refunded 10/01/13) – NPFG Insured	10/13 at 100.00	A (4)	755,948
6,575	Total Missouri			6,785,416
	Nebraska – 0.4% (0.3% of Total Investments)
2,730	Lincoln County Hospital Authority 1, Nebraska, Hospital Revenue and Refunding Bonds, Great	No Opt. Call	A–	2,638,217
	Plains Regional Medical Center Project, Series 2012, 5.000%, 11/01/42
865	Omaha Public Power District, Nebraska, Separate Electric System Revenue Bonds, Nebraska City 2,	2/17 at 100.00	AA+	1,296,843
	Series 2006A, 20.414%, 8/01/40 – AMBAC Insured (IF)
3,595	Total Nebraska			3,935,060
	Nevada – 1.8% (1.2% of Total Investments)
2,000	Clark County, Nevada, Airport Revenue Bonds, Subordinate Lien Series 2009C, 5.000%, 7/01/26 –	7/19 at 100.00	AA–	2,130,620
	AGM Insured
12,260	Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran	1/20 at 100.00	AA–	12,718,647
	International Airport, Series 2010A, 5.250%, 7/01/39 – AGM Insured
3,280	Clark County, Nevada, Subordinate Lien Airport Revenue Bonds, Series 2004A-2, 5.125%, 7/01/24 –	7/14 at 100.00	A+	3,400,507
	FGIC Insured
950	Las Vegas Valley Water District, Nevada, General Obligation Bonds, Water Series 2012B,	6/22 at 100.00	AA+	966,226
	5.000%, 6/01/42
18,490	Total Nevada			19,216,000
	New Jersey – 6.6% (4.5% of Total Investments)
	Essex County Improvement Authority, New Jersey, Guaranteed Revenue Bonds, Project
	Consolidation, Series 2004:
1,275	5.125%, 10/01/21 – NPFG Insured	10/14 at 100.00	Aa2	1,341,887
2,250	5.125%, 10/01/22 – NPFG Insured	10/14 at 100.00	Aa2	2,367,495
1,560	Mount Olive Township Board of Education, Morris County, New Jersey, General Obligation Bonds,	1/15 at 100.00	Aa3	1,641,557
	Series 2004, 5.000%, 1/15/22 – NPFG Insured
	New Jersey Economic Development Authority, Revenue Bonds, Motor Vehicle Surcharge,
	Series 2004A:
2,675	5.000%, 7/01/22 – NPFG Insured	7/14 at 100.00	A	2,777,025
2,675	5.000%, 7/01/23 – NPFG Insured	7/14 at 100.00	A	2,773,761
1,200	5.000%, 7/01/29 – NPFG Insured	7/14 at 100.00	A	1,232,460
3,075	New Jersey Transit Corporation, Certificates of Participation Refunding, Series 2003, 5.500%,	No Opt. Call	AA–	3,378,503
	10/01/15 – AGM Insured
5,000	New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Capital	No Opt. Call	A+	2,590,900
	Appreciation Series 2010A, 0.000%, 12/15/26
	New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2006C:
25,000	0.000%, 12/15/35 – AMBAC Insured	No Opt. Call	A+	6,896,750
10,000	0.000%, 12/15/36 – AMBAC Insured	No Opt. Call	A+	2,580,800
10,500	New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2007A,	12/17 at 100.00	AA	10,790,850
	5.000%, 12/15/34 – AMBAC Insured
9,000	New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2012AA,	No Opt. Call	A+	9,173,880
	5.000%, 6/15/38
14,000	New Jersey Turnpike Authority, Revenue Bonds, Refunding Series 2005D-1, 5.250%, 1/01/26 –	No Opt. Call	AA–	15,801,520
	AGM Insured
1,500	New Jersey Turnpike Authority, Revenue Bonds, Series 2005A, 5.000%, 1/01/25 – AGM Insured	1/15 at 100.00	AA–	1,580,790
330	New Jersey Turnpike Authority, Revenue Bonds, Tender Option Bond Trust 1154,	7/22 at 100.00	A+	353,654
	17.228%, 1/01/43 (IF) (5)
	Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds,
	Series 2007-1A:
2,065	4.500%, 6/01/23	6/17 at 100.00	B1	1,927,492
785	4.625%, 6/01/26	6/17 at 100.00	B1	679,755
2,250	4.750%, 6/01/34	6/17 at 100.00	B2	1,642,208
1,050	5.000%, 6/01/41	6/17 at 100.00	B2	768,926
96,190	Total New Jersey			70,300,213
	New Mexico – 0.9% (0.6% of Total Investments)
	New Mexico Finance Authority, Public Project Revolving Fund Revenue Bonds, Series 2004C:
1,415	5.000%, 6/01/22 – AMBAC Insured	6/14 at 100.00	AAA	1,466,520
1,050	5.000%, 6/01/24 – AMBAC Insured	6/14 at 100.00	AAA	1,086,435
2,000	New Mexico Finance Authority, Public Project Revolving Fund Revenue Bonds, Series 2005E,	6/15 at 100.00	Aa2	2,127,220
	5.000%, 6/15/25 – NPFG Insured
1,975	New Mexico State University, Revenue Bonds, Series 2004B, 5.000%, 4/01/19 (Pre-refunded	4/14 at 100.00	AA (4)	2,037,924
	4/01/14) – AMBAC Insured
2,725	Rio Rancho, New Mexico, Water and Wastewater Revenue Bonds, Refunding Series 2009, 5.000%,	5/19 at 100.00	AA–	3,094,265
	5/15/21 – AGM Insured
9,165	Total New Mexico			9,812,364
	New York – 8.9% (6.1% of Total Investments)
2,115	Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Montefiore	2/15 at 100.00	A	2,224,557
	Hospital, Series 2004, 5.000%, 8/01/23 – FGIC Insured
3,000	Dormitory Authority of the State of New York, Revenue Bonds, Columbia University, Series	4/21 at 100.00	AAA	3,171,870
	2011A, 5.000%, 10/01/41
7,435	Dormitory Authority of the State of New York, Revenue Bonds, New School University, Series	7/20 at 100.00	AA–	7,773,516
	2010, 5.500%, 7/01/43 – AGM Insured
3,200	Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series	7/22 at 100.00	AA–	3,311,584
	2012A, 5.000%, 7/01/42
1,000	Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Series	3/15 at 100.00	AAA	1,061,200
	2005F, 5.000%, 3/15/24 – AMBAC Insured
1,300	Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series	2/21 at 100.00	A	1,382,758
	2011A, 5.750%, 2/15/47
8,160	Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 4.500%,	2/17 at 100.00	A	7,399,896
	2/15/47 – NPFG Insured
10,000	Liberty Development Corporation, New York, Goldman Sachs Headquarter Revenue Bonds, Series	No Opt. Call	A	10,400,300
	2005, 5.250%, 10/01/35
	Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006A:
10,675	5.000%, 12/01/23 – FGIC Insured	6/16 at 100.00	A	11,481,603
10,835	5.000%, 12/01/25 – FGIC Insured	6/16 at 100.00	A	11,567,121
2,700	Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2006F, 4.250%,	11/16 at 100.00	A	2,474,226
	5/01/33 – NPFG Insured
2,830	Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A,	5/21 at 100.00	A	2,840,613
	5.000%, 5/01/38
5,000	New York City Sales Tax Asset Receivable Corporation, New York, Dedicated Revenue Bonds, Local	10/14 at 100.00	AAA	5,265,300
	Government Assistance Corporation, Series 2004A, 5.000%, 10/15/21 – NPFG Insured
3,490	New York City, New York, General Obligation Bonds, Fiscal Series 2004E, 5.000%, 11/01/21 –	No Opt. Call	AA	3,688,651
	AGM Insured
1,510	New York City, New York, General Obligation Bonds, Fiscal Series 2004E, 5.000%, 11/01/21	11/14 at 100.00	Aa2 (4)	1,599,936
	(Pre-refunded 11/01/14) – AGM Insured
665	New York City, New York, General Obligation Bonds, Fiscal Series 2005D, 5.000%, 11/01/24	11/14 at 100.00	AA	702,686
585	New York City, New York, General Obligation Bonds, Fiscal Series 2005D, 5.000%, 11/01/24	11/14 at 100.00	AA (4)	619,843
	(Pre-refunded 11/01/14)
1,540	New York Convention Center Development Corporation, Hotel Unit Fee Revenue Bonds, Series 2005,	11/15 at 100.00	AA+	1,594,516
	Trust 2364, 17.236%, 11/15/44 – AMBAC Insured (IF)
4,045	New York State Environmental Facilities Corporation, State Clean Water and Drinking Water	6/22 at 100.00	AAA	5,569,925
	Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects,
	Tender Option Bond Trust 2012-9W, 13.788%, 6/15/26 (IF) (5)
355	New York State Housing Finance Agency, Mortgage Revenue Refunding Bonds, Housing Project,	11/13 at 100.00	AA–	355,706
	Series 1996A, 6.125%, 11/01/20 – AGM Insured
1,850	New York State Urban Development Corporation, Service Contract Revenue Bonds, Series 2005B,	3/15 at 100.00	AAA	1,989,176
	5.000%, 3/15/25 (Pre-refunded 3/15/15) – AGM Insured (UB)
3,335	New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, Tender	3/17 at 100.00	AAA	3,563,748
	Option Bond Trust 09-6W, 13.452%, 3/15/37 (IF) (5)
2,105	Onondaga Civic Development Corporation, New York, Revenue Bonds, St. Joseph’s Hospital Health	7/22 at 100.00	BB+	1,897,279
	Center Project, Series 2012, 5.000%, 7/01/42
	Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding
	Subordinate Lien Series 2013A:
775	5.000%, 11/15/28	No Opt. Call	A+	832,025
5,545	0.000%, 11/15/31	No Opt. Call	A+	2,228,868
405	0.000%, 11/15/32	No Opt. Call	A+	153,374
94,455	Total New York			95,150,277
	North Carolina – 3.1% (2.2% of Total Investments)
785	Appalachian State University, North Carolina, Revenue Bonds, Series 2005, 5.000%, 7/15/30	7/15 at 100.00	Aa3	810,811
465	Appalachian State University, North Carolina, Revenue Bonds, Series 2005, 5.000%, 7/15/30	7/15 at 100.00	Aa3 (4)	506,236
	(Pre-refunded 7/15/15)
3,555	Charlotte, North Carolina, Water and Sewer System Refunding Bonds, Tender Option Bond Trust	7/20 at 100.00	AAA	4,180,076
	43W, 13.489%, 7/01/38 (IF) (5)
1,195	Dare County, North Carolina, Certificates of Participation, Series 2004, 5.250%, 6/01/15	6/14 at 100.00	AA– (4)	1,244,879
	(Pre-refunded 6/01/14) – AMBAC Insured
	Mooresville, North Carolina, Enterprise System Revenue Bonds, Series 2004:
2,225	5.000%, 5/01/23 (Pre-refunded 5/01/14) – FGIC Insured	5/14 at 100.00	AA– (4)	2,304,967
2,335	5.000%, 5/01/24 (Pre-refunded 5/01/14) – FGIC Insured	5/14 at 100.00	AA– (4)	2,418,920
3,100	North Carolina Medical Care Commission, FHA-Insured Mortgage Revenue Bonds, Betsy Johnson	10/13 at 100.00	AA– (4)	3,124,335
	Regional Hospital Project, Series 2003, 5.125%, 10/01/32 (Pre-refunded 10/01/13) – AGM Insured
5,000	North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Duke University	6/22 at 100.00	AA	5,017,400
	Health System, Series 2012A, 5.000%, 6/01/42
700	North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Vidant Health,	6/22 at 100.00	A+	704,172
	Refunding Series 2012A, 5.000%, 6/01/36
1,500	North Carolina Medical Care Commission, Health Care Facilities Revenue Refunding Bonds,	10/22 at 100.00	AA–	1,503,720
	WakeMed, Series 2012A, 5.000%, 10/01/38
8,700	North Carolina Medical Care Commission, Revenue Bonds, Maria Parham Medical Center, Series	10/13 at 100.00	N/R (4)	8,774,733
	2003, 5.375%, 10/01/33 (Pre-refunded 10/01/13) – RAAI Insured
3,050	Raleigh Durham Airport Authority, North Carolina, Airport Revenue Bonds, Series 2005A, 5.000%,	5/15 at 100.00	Aa3	3,224,125
	5/01/22 – AMBAC Insured
32,610	Total North Carolina			33,814,374
	North Dakota – 0.6% (0.4% of Total Investments)
5,000	Burleigh County, North Dakota, Health Care Revenue Refunding Bonds, St. Alexius Medical Center	7/22 at 100.00	BBB+	4,618,450
	Project, Series 2012A, 4.500%, 7/01/32
1,800	Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated	12/21 at 100.00	A–	1,781,964
	Group, Series 2012, 5.000%, 12/01/35
6,800	Total North Dakota			6,400,414
	Ohio – 5.8% (4.0% of Total Investments)
320	Akron, Bath and Copley Joint Township Hospital District, Ohio, Hospital Revenue Bonds,	5/22 at 100.00	A1	316,819
	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:
650	5.000%, 5/01/33	5/22 at 100.00	AA–	655,454
960	4.000%, 5/01/33	5/22 at 100.00	AA–	824,093
800	5.000%, 5/01/42	5/22 at 100.00	AA–	784,392
	Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
	Bonds, Senior Lien, Series 2007A-2:
25	5.375%, 6/01/24	6/17 at 100.00	B–	21,237
1,155	5.125%, 6/01/24	6/17 at 100.00	B–	963,686
710	5.875%, 6/01/30	6/17 at 100.00	B	567,226
13,445	5.750%, 6/01/34	6/17 at 100.00	B	10,233,662
2,485	5.875%, 6/01/47	6/17 at 100.00	B	1,859,749
5,975	Fairfield County, Ohio, Hospital Facilities Revenue Bonds, Fairfield Medical Center Project,	6/23 at 100.00	Baa2	5,643,268
	Series 2013, 5.000%, 6/15/43
1,465	Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Children’s Hospital Project,	5/22 at 100.00	Aa2	1,453,749
	Improvement Series 2012A, 5.000%, 11/01/42
7,825	Hamilton County, Ohio, Sales Tax Bonds, Subordinate Lien, Series 2006A, 4.250%, 12/01/32 –	12/16 at 100.00	A+	7,428,273
	AMBAC Insured
4,605	Hamilton County, Ohio, Sales Tax Bonds, Subordinate Lien Series 2006A, 4.250%, 12/01/32 –	12/16 at 100.00	A+	4,371,527
	AMBAC Insured (UB)
6,920	JobsOhio Beverage System, Ohio, Statewide Senior Lien Liquor Profits Revenue Bonds, Tax Exempt	1/23 at 100.00	AA	7,039,301
	Series 2013A, 5.000%, 1/01/38
6,000	Middletown City School District, Butler County, Ohio, General Obligation Bonds, Refunding	No Opt. Call	A2	6,436,620
	Series 2007, 5.250%, 12/01/31 – AGM Insured
4,795	Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Project, Junior Lien Series	2/23 at 100.00	A+	4,756,017
	2013A-1, 5.000%, 2/15/48 (WI/DD, Settling 8/15/13)
3,960	Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Projects, Junior Lien	2/31 at 100.00	A+	2,300,364
	Convertible Series 2013A-3, 0.000%, 2/15/36 (WI/DD, Settling 8/15/13)
700	Shaker Heights, Ohio, General Obligation Bonds, Series 2003, 5.250%, 12/01/26 (Pre-refunded	12/13 at 100.00	AAA	711,830
	12/01/13) – AMBAC Insured
	Southeastern Ohio Port Authority, Hospital Facilities Revenue Bonds, Memorial Health System
	Obligated Group Project, Refunding and Improvement Series 2012:
400	5.750%, 12/01/32	12/22 at 100.00	N/R	405,732
260	6.000%, 12/01/42	12/22 at 100.00	N/R	264,620
4,190	Springboro Community City School District, Warren County, Ohio, General Obligation Bonds,	No Opt. Call	AA–	4,735,789
	Refunding Series 2007, 5.250%, 12/01/26 – AGM Insured
67,645	Total Ohio			61,773,408
	Oklahoma – 0.8% (0.5% of Total Investments)
	Oklahoma Capitol Improvement Authority, State Facilities Revenue Bonds, Series 2005F:
6,000	5.000%, 7/01/24 – AMBAC Insured	7/15 at 100.00	AA	6,440,820
1,610	5.000%, 7/01/27 – AMBAC Insured	7/15 at 100.00	AA	1,697,552
7,610	Total Oklahoma			8,138,372
	Oregon – 0.3% (0.2% of Total Investments)
2,500	Oregon Health and Science University, Revenue Bonds, Series 2012E, 5.000%, 7/01/32	No Opt. Call	A+	2,546,725
1,000	Tigard, Washington County, Oregon, Water System Revenue Bonds, Series 2012, 5.000%, 8/01/42	8/22 at 100.00	AA–	1,034,420
3,500	Total Oregon			3,581,145
	Pennsylvania – 7.2% (5.0% of Total Investments)
3,545	Allegheny County Sanitary Authority, Pennsylvania, Sewerage Revenue Bonds, Series 2005A,	12/15 at 100.00	A1	3,831,365
	5.000%, 12/01/23 – NPFG Insured
7,000	Chester County Health and Educational Facilities Authority, Pennsylvania, Health System	5/20 at 100.00	AA	6,979,000
	Revenue Bonds, Jefferson Health System, Series 2010A, 5.000%, 5/15/40
4,000	Commonwealth Financing Authority, Pennsylvania, State Appropriation Lease Bonds, Series 2006A,	6/16 at 100.00	AA–	4,257,520
	5.000%, 6/01/26 – AGM Insured (UB)
4,235	Delaware County Authority, Pennsylvania, Revenue Bonds, Villanova University, Series 2006,	8/16 at 100.00	A+	4,661,465
	5.000%, 8/01/24 – AMBAC Insured
3,500	Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Series 2010E,	1/20 at 100.00	AA–	3,586,660
	5.000%, 1/01/40 – AGM Insured
4,000	Erie Water Authority, Erie County, Pennsylvania, Water Revenue Bonds, Series 2011A, 4.625%,	12/21 at 100.00	A1	3,809,160
	12/01/44 – AGM Insured
1,045	Montgomery County Industrial Development Authority, Pennsylvania, FHA Insured Mortgage Revenue	8/20 at 100.00	AA	1,099,382
	Bonds, New Regional Medical Center Project, Series 2010, 5.375%, 8/01/38 (UB) (5)
5,235	Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Drexel University, Series	5/15 at 100.00	A	5,481,935
	2005A, 5.000%, 5/01/28 – NPFG Insured