|
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|
|
|
|
|
Portfolio of Investments (Unaudited)
|
|
|
|
|
|
Nuveen Maryland Dividend Advantage Municipal Fund 3 (NWI)
|
|
|
|
|
|
February 29, 2012
|
|
|
|
|
|
|
|
|
|
Principal
|
|
|
Optional Call
|
|
|
Amount (000)
|
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|
|
Consumer Discretionary – 3.8% (2.6% of Total Investments)
|
|
|
|
$ 2,450
|
|
Baltimore, Maryland, Senior Lien Convention Center Hotel Revenue Bonds, Series 2006A, 5.250%,
|
9/16 at 100.00
|
BB+
|
$ 2,304,250
|
|
|
9/01/39 – SYNCORA GTY Insured
|
|
|
|
380
|
|
Baltimore, Maryland, Subordinate Lien Convention Center Hotel Revenue Bonds, Series 2006B,
|
9/16 at 100.00
|
Ba2
|
374,897
|
|
|
5.875%, 9/01/39
|
|
|
|
700
|
|
Maryland Economic Development Corporation, Revenue Bonds, Chesapeake Bay Hyatt Conference
|
12/16 at 100.00
|
N/R
|
455,637
|
|
|
Center, Series 2006A, 5.000%, 12/01/31
|
|
|
|
3,530
|
|
Total Consumer Discretionary
|
|
|
3,134,784
|
|
|
Consumer Staples – 5.8% (3.8% of Total Investments)
|
|
|
|
575
|
|
Guam Economic Development & Commerce Authority, Tobacco Settlement Asset-Backed Bonds,
|
6/17 at 100.00
|
N/R
|
522,894
|
|
|
Series 2007A, 5.250%, 6/01/32
|
|
|
|
20,000
|
|
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Bonds, Series 2005A,
|
5/15 at 11.19
|
BBB–
|
1,370,400
|
|
|
0.000%, 5/15/50
|
|
|
|
|
|
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds,
|
|
|
|
|
|
Series 2002:
|
|
|
|
2,265
|
|
5.375%, 5/15/33
|
5/12 at 100.00
|
BBB
|
2,240,787
|
560
|
|
5.500%, 5/15/39
|
5/12 at 100.00
|
Baa3
|
552,944
|
23,400
|
|
Total Consumer Staples
|
|
|
4,687,025
|
|
|
Education and Civic Organizations – 12.9% (8.6% of Total Investments)
|
|
|
|
225
|
|
Anne Arundel County, Maryland, Economic Development Revenue Bonds, Community College Project,
|
9/12 at 102.00
|
A2
|
233,474
|
|
|
Series 2002, 5.125%, 9/01/22
|
|
|
|
625
|
|
Frederick County, Maryland, Educational Facilities Revenue Bonds, Mount Saint Mary’s College,
|
9/16 at 100.00
|
BB+
|
616,944
|
|
|
Series 2006, 5.625%, 9/01/38
|
|
|
|
690
|
|
Hartford County, Maryland, Economic Development Revenue Bonds, Battelle Memorial Institute,
|
4/14 at 100.00
|
A+
|
707,167
|
|
|
Series 2004, 5.250%, 4/01/34
|
|
|
|
165
|
|
Maryland Health and Higher Edcuational Facilities Authority, Revenue Bonds, Patterson Park
|
7/20 at 100.00
|
BBB–
|
167,033
|
|
|
Public Charter School Issue, Series 2010, 6.000%, 7/01/40
|
|
|
|
625
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Goucher College,
|
7/14 at 100.00
|
A–
|
641,431
|
|
|
Series 2004, 5.125%, 7/01/34
|
|
|
|
1,000
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Johns Hopkins
|
7/12 at 100.00
|
AA
|
1,012,270
|
|
|
University, Series 2002A, 5.000%, 7/01/32
|
|
|
|
735
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Johns Hopkins
|
No Opt. Call
|
AA+
|
915,825
|
|
|
University, Series 2004, Trust 1003, 13.763%, 1/01/13 (IF)
|
|
|
|
925
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Maryland Institute
|
6/16 at 100.00
|
Baa1
|
948,430
|
|
|
College of Art, Series 2006, 5.000%, 6/01/30
|
|
|
|
625
|
|
Maryland Industrial Development Financing Authority, Revenue Bonds, Our Lady of Good Counsel
|
5/15 at 100.00
|
N/R
|
636,656
|
|
|
High School, Series 2005A, 6.000%, 5/01/35
|
|
|
|
710
|
|
Montgomery County Revenue Authority, Maryland, Lease Revenue Bonds, Montgomery College Arts
|
5/15 at 100.00
|
Aa3
|
783,939
|
|
|
Center Project, Series 2005A, 5.000%, 5/01/18
|
|
|
|
1,000
|
|
Morgan State University, Maryland, Student Tuition and Fee Revenue Bonds, Academic Fees and
|
7/13 at 100.00
|
Aa3
|
1,020,000
|
|
|
Auxiliary Facilities, Series 2003A, 5.000%, 7/01/32 – FGIC Insured
|
|
|
|
800
|
|
University of Maryland, Auxiliary Facility and Tuition Revenue Bonds, Series 2006A,
|
10/16 at 100.00
|
AA+
|
925,672
|
|
|
5.000%, 10/01/22
|
|
|
|
|
|
Westminster, Maryland, Educational Facilities Revenue Bonds, McDaniel College, Series 2006:
|
|
|
|
890
|
|
5.000%, 11/01/31
|
11/16 at 100.00
|
BBB+
|
914,359
|
1,000
|
|
4.500%, 11/01/36
|
11/16 at 100.00
|
BBB+
|
951,970
|
10,015
|
|
Total Education and Civic Organizations
|
|
|
10,475,170
|
|
|
Health Care – 30.4% (20.4% of Total Investments)
|
|
|
|
700
|
|
Maryland Health and Higher Education Facilities Authority, Revenue Bonds, University of
|
7/16 at 100.00
|
A
|
728,868
|
|
|
Maryland Medical System Issue, Series 2006A, 5.000%, 7/01/31
|
|
|
|
445
|
|
Maryland Health and Higher Education Facilities Authority, Revenue Bonds, University of
|
7/19 at 100.00
|
A
|
474,940
|
|
|
Maryland Medical System Issue, Series 2010, 5.125%, 7/01/39
|
|
|
|
300
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds Doctors Community
|
No Opt. Call
|
Baa3
|
309,387
|
|
|
Hospital, Refunding Series 2010, 5.750%, 7/01/38
|
|
|
|
375
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Adventist
|
1/22 at 100.00
|
Baa2
|
416,996
|
|
|
Healthcare, Series 2011A, 6.125%, 1/01/36
|
|
|
|
335
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Anne Arundel
|
7/19 at 100.00
|
A–
|
350,142
|
|
|
Health System, Series 2010, 5.000%, 7/01/40
|
|
|
|
1,000
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Anne Arundel
|
7/12 at 100.00
|
AA–
|
1,000,950
|
|
|
Medical Center, Series 1998, 5.125%, 7/01/33 – AGM Insured
|
|
|
|
775
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Calvert Memorial
|
7/14 at 100.00
|
A3
|
795,522
|
|
|
Hospital, Series 2004, 5.500%, 7/01/36
|
|
|
|
1,250
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Carroll County
|
7/12 at 100.00
|
A3
|
1,257,688
|
|
|
General Hospital, Series 2002, 5.800%, 7/01/32
|
|
|
|
1,750
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Carroll Hospital
|
7/16 at 100.00
|
A3
|
1,781,623
|
|
|
Center, Series 2006, 5.000%, 7/01/40
|
|
|
|
1,070
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Civista Medical
|
7/14 at 100.00
|
N/R
|
936,485
|
|
|
Center, Series 2005, 5.000%, 7/01/37 – RAAI Insured
|
|
|
|
885
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Doctors Community
|
7/17 at 100.00
|
Baa3
|
888,230
|
|
|
Hospital, Series 2007A, 5.000%, 7/01/29
|
|
|
|
700
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Frederick Memorial
|
7/12 at 100.00
|
Baa1
|
700,441
|
|
|
Hospital, Series 2002, 5.125%, 7/01/35
|
|
|
|
640
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Greater Baltimore
|
7/12 at 100.00
|
A
|
640,320
|
|
|
Medical Center, Series 2001, 5.000%, 7/01/34
|
|
|
|
1,000
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Kennedy Krieger
|
7/13 at 100.00
|
Baa3
|
1,009,610
|
|
|
Institute, Series 2003, 5.500%, 7/01/33
|
|
|
|
595
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, LifeBridge Health
|
7/17 at 100.00
|
AA–
|
637,644
|
|
|
System, Series 2008, 5.000%, 7/01/28 – AGC Insured
|
|
|
|
400
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, LifeBridge Health
|
7/21 at 100.00
|
A
|
457,284
|
|
|
System, Series 2011, 6.000%, 7/01/41
|
|
|
|
900
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, MedStar Health,
|
8/14 at 100.00
|
A2
|
955,395
|
|
|
Series 2004, 5.375%, 8/15/24
|
|
|
|
1,690
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, MedStar Health,
|
5/16 at 100.00
|
AA+
|
1,774,635
|
|
|
Series 2007, 5.250%, 5/15/46 – BHAC Insured
|
|
|
|
650
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Medical
|
7/12 at 100.00
|
BBB
|
650,494
|
|
|
Center Issue, Series 2001, 5.625%, 7/01/31
|
|
|
|
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Medical
|
|
|
|
|
|
Center Issue, Series 2007A:
|
|
|
|
525
|
|
5.000%, 7/01/37
|
7/17 at 100.00
|
BBB
|
512,799
|
1,185
|
|
5.500%, 7/01/42
|
7/17 at 100.00
|
BBB
|
1,203,225
|
850
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Peninsula Regional
|
7/16 at 100.00
|
A
|
872,763
|
|
|
Medical Center, Series 2006, 5.000%, 7/01/36
|
|
|
|
1,000
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, The Johns Hopkins
|
5/20 at 100.00
|
AA–
|
1,079,150
|
|
|
Health System Obligated Group Issue, Series 2010, 5.000%, 5/15/40
|
|
|
|
1,845
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Union Hospital of
|
7/12 at 100.00
|
A3
|
1,857,712
|
|
|
Cecil County, Series 2002, 5.625%, 7/01/32
|
|
|
|
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Washington County
|
|
|
|
|
|
Hospital, Series 2008:
|
|
|
|
1,220
|
|
5.750%, 1/01/38
|
1/18 at 100.00
|
BBB–
|
1,276,742
|
500
|
|
6.000%, 1/01/43
|
1/18 at 100.00
|
BBB–
|
530,070
|
95
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Western Maryland
|
7/16 at 100.00
|
BBB
|
99,149
|
|
|
Health, Series 2006A, 5.000%, 7/01/34 – NPFG Insured
|
|
|
|
775
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Refunding Bonds,
|
1/13 at 101.00
|
Baa2
|
791,655
|
|
|
Adventist Healthcare, Series 2003A, 5.750%, 1/01/25
|
|
|
|
900
|
|
Prince George’s County, Maryland, Revenue Bonds, Dimensions Health Corporation, Series 1994,
|
7/12 at 100.00
|
B3
|
825,831
|
|
|
5.300%, 7/01/24
|
|
|
|
24,355
|
|
Total Health Care
|
|
|
24,815,750
|
|
|
Housing/Multifamily – 7.4% (5.0% of Total Investments)
|
|
|
|
980
|
|
Maryland Community Development Administration, Housing Revenue Bonds, Series 2002B, 4.950%,
|
7/12 at 100.00
|
Aa2
|
981,568
|
|
|
7/01/32 (Alternative Minimum Tax)
|
|
|
|
1,250
|
|
Maryland Economic Development Corporation, Senior Lien Student Housing Revenue Bonds,
|
10/13 at 100.00
|
B3
|
919,600
|
|
|
University of Maryland – Baltimore, Series 2003A, 5.625%, 10/01/23
|
|
|
|
|
|
Maryland Economic Development Corporation, Student Housing Revenue Bonds, Sheppard Pratt
|
|
|
|
|
|
University Village, Series 2001:
|
|
|
|
20
|
|
5.875%, 7/01/21 – ACA Insured
|
7/12 at 100.50
|
N/R
|
19,751
|
150
|
|
6.000%, 7/01/33 – ACA Insured
|
7/12 at 100.50
|
N/R
|
140,247
|
475
|
|
Maryland Economic Development Corporation, Student Housing Revenue Refunding Bonds,
|
6/16 at 100.00
|
AA–
|
486,381
|
|
|
University of Maryland College Park Projects, Series 2006, 5.000%, 6/01/33 – CIFG Insured
|
|
|
|
|
|
Montgomery County Housing Opportunities Commission, Maryland, Multifamily Housing
|
|
|
|
|
|
Development Bonds, Series 2002B:
|
|
|
|
515
|
|
5.100%, 7/01/33 (Alternative Minimum Tax)
|
7/12 at 100.00
|
Aaa
|
516,009
|
3,000
|
|
5.200%, 7/01/44 (Alternative Minimum Tax)
|
7/12 at 100.00
|
Aaa
|
3,004,350
|
6,390
|
|
Total Housing/Multifamily
|
|
|
6,067,906
|
|
|
Housing/Single Family – 8.5% (5.7% of Total Investments)
|
|
|
|
1,470
|
|
Maryland Community Development Administration Department of Housing and Community
|
9/18 at 100.00
|
Aa2
|
1,554,569
|
|
|
Development, Residential Revenue Bonds, Series 2008C, 5.375%, 9/01/39
|
|
|
|
505
|
|
Maryland Community Development Administration Department of Housing and Community
|
3/20 at 100.00
|
Aa2
|
542,865
|
|
|
Development, Residential Revenue Bonds, Series 2010B, 5.250%, 9/01/35
|
|
|
|
1,160
|
|
Maryland Community Development Administration, Department of Housing and Community
|
9/14 at 100.00
|
Aa2
|
1,170,116
|
|
|
Development, Residential Revenue Bonds, Series 2005,4.900%, 9/01/36 (Alternative
|
|
|
|
|
|
Minimum Tax) (UB)
|
|
|
|
|
|
Maryland Community Development Administration, Department of Housing and Community
|
|
|
|
|
|
Development, Residential Revenue Bonds, Series 2006:
|
|
|
|
1,200
|
|
4.875%, 9/01/26 (Alternative Minimum Tax) (UB)
|
3/16 at 100.00
|
Aa2
|
1,230,240
|
595
|
|
4.900%, 9/01/26 (Alternative Minimum Tax) (UB)
|
9/15 at 100.00
|
Aa2
|
608,405
|
815
|
|
4.900%, 9/01/31 (Alternative Minimum Tax) (UB)
|
9/16 at 100.00
|
Aa2
|
833,998
|
|
|
Maryland Community Development Administration, Department of Housing and Community
|
|
|
|
|
|
Development, Residential Revenue Bonds, Series 2007:
|
|
|
|
350
|
|
5.000%, 9/01/27 (Alternative Minimum Tax) (UB)
|
3/17 at 100.00
|
Aa2
|
361,644
|
620
|
|
4.850%, 9/01/37 (Alternative Minimum Tax) (UB)
|
3/17 at 100.00
|
Aa2
|
627,552
|
6,715
|
|
Total Housing/Single Family
|
|
|
6,929,389
|
|
|
Industrials – 2.7% (1.8% of Total Investments)
|
|
|
|
1,590
|
|
Maryland Economic Development Corporation, Economic Development Revenue Bonds,
|
6/20 at 100.00
|
Baa3
|
1,681,838
|
|
|
Transportation Facilities Project, Series 2010A, 5.750%, 6/01/35
|
|
|
|
510
|
|
Maryland Economic Development Corporation, Solid Waste Disposal Revenue Bonds, Waste
|
4/12 at 101.00
|
BBB
|
516,849
|
|
|
Management Inc., Series 2002, 4.600%, 4/01/16 (Alternative Minimum Tax)
|
|
|
|
2,100
|
|
Total Industrials
|
|
|
2,198,687
|
|
|
Long-Term Care – 5.9% (4.0% of Total Investments)
|
|
|
|
1,050
|
|
Baltimore County, Maryland, Revenue Bonds, Oak Crest Village, Series 2007A, 5.000%, 1/01/37
|
1/17 at 100.00
|
BBB+
|
1,059,135
|
380
|
|
Gaithersburg, Maryland, Economic Development Revenue Bonds, Asbury Methodist Homes Inc.,
|
1/20 at 100.00
|
N/R
|
420,713
|
|
|
Series 2009B, 6.000%, 1/01/23
|
|
|
|
1,500
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Charlestown
|
1/21 at 100.00
|
N/R
|
1,679,715
|
|
|
Community Issue, Series 2010, 6.250%, 1/01/45
|
|
|
|
400
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Edenwald, Series
|
7/16 at 100.00
|
N/R
|
399,032
|
|
|
2006A, 5.400%, 1/01/31
|
|
|
|
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, King Farm
|
|
|
|
|
|
Presbyterian Community, Series 2007A:
|
|
|
|
280
|
|
5.000%, 1/01/17
|
No Opt. Call
|
N/R
|
273,986
|
520
|
|
5.250%, 1/01/27
|
1/17 at 100.00
|
N/R
|
463,434
|
540
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Ridge
|
7/17 at 100.00
|
A–
|
543,893
|
|
|
Retirement Community, Series 2007, 4.750%, 7/01/34
|
|
|
|
4,670
|
|
Total Long-Term Care
|
|
|
4,839,908
|
|
|
Tax Obligation/General – 8.8% (5.9% of Total Investments)
|
|
|
|
380
|
|
Carroll County, Maryland, Consolidated Public Improvement Bonds, Series 2005A, 5.000%, 12/01/16
|
12/15 at 100.00
|
AA+
|
444,159
|
710
|
|
Frederick, Maryland, General Obligation Bonds, Series 2005, 5.000%, 8/01/16 – NPFG Insured
|
8/15 at 100.00
|
AA
|
818,666
|
1,000
|
|
Maryland National Capital Park Planning Commission, Prince George’s County, General Obligation
|
1/14 at 100.00
|
AAA
|
1,081,110
|
|
|
Bonds, Park Acquisition and Development, Series 2004EE-2, 5.000%, 1/15/17
|
|
|
|
1,850
|
|
Montgomery County, Maryland, Consolidated General Obligation Public Improvement Bonds, Series
|
No Opt. Call
|
AAA
|
2,128,962
|
|
|
2005A, 5.000%, 7/01/15
|
|
|
|
1,440
|
|
Montgomery County, Maryland, Consolidated General Obligation Public Improvement Bonds, Series
|
No Opt. Call
|
AAA
|
1,705,781
|
|
|
2006A, 5.000%, 5/01/16
|
|
|
|
1,000
|
|
St. Mary’s County, Maryland, General Obligation Hospital Bonds, Series 2002, 5.000%, 10/01/12
|
No Opt. Call
|
AA
|
1,029,110
|
6,380
|
|
Total Tax Obligation/General
|
|
|
7,207,788
|
|
|
Tax Obligation/Limited – 33.0% (22.1% of Total Investments)
|
|
|
|
185
|
|
Anne Arundel County, Maryland, Special Obligation Bonds, National Business Park – North
|
7/18 at 102.00
|
N/R
|
191,640
|
|
|
Project, Series 2010, 6.100%, 7/01/40
|
|
|
|
130
|
|
Frederick County, Maryland, Lake Linganore Village Community Development Special Obligation
|
7/12 at 100.00
|
N/R
|
130,601
|
|
|
Bonds, Series 2001A, 5.600%, 7/01/20 – RAAI Insured
|
|
|
|
|
|
Fredrick County, Maryland, Special Obligation Bonds, Urbana Community Development Authority,
|
|
|
|
|
|
Series 2010A:
|
|
|
|
1,150
|
|
5.000%, 7/01/30
|
7/20 at 100.00
|
A–
|
1,245,646
|
305
|
|
5.000%, 7/01/40
|
7/20 at 100.00
|
A–
|
319,268
|
450
|
|
Hyattsville, Maryland, Special Obligation Bonds, University Town Center Project, Series 2004,
|
7/14 at 102.00
|
N/R
|
450,815
|
|
|
5.750%, 7/01/34
|
|
|
|
5,000
|
|
Maryland Department of Transportation, Consolidated Transportation Revenue Bonds, Series 2002,
|
No Opt. Call
|
AAA
|
5,967,200
|
|
|
5.500%, 2/01/16
|
|
|
|
450
|
|
Maryland Economic Development Corporation, Lease Revenue Bonds, Montgomery County Town
|
9/12 at 100.00
|
AA+
|
461,705
|
|
|
Square Parking Garage, Series 2002A, 5.000%, 9/15/13
|
|
|
|
2,935
|
|
Maryland Economic Development Corporation, Lease Revenue Bonds, Montgomery County Wayne
|
9/12 at 100.00
|
AA+
|
3,010,136
|
|
|
Avenue Parking Project, Series 2002A, 5.250%, 9/15/16
|
|
|
|
|
|
Maryland Stadium Authority, Lease Revenue Bonds, Montgomery County Conference Center
|
|
|
|
|
|
Facilities, Series 2003:
|
|
|
|
1,465
|
|
5.000%, 6/15/21
|
6/13 at 100.00
|
AA+
|
1,543,260
|
1,620
|
|
5.000%, 6/15/23
|
6/13 at 100.00
|
AA+
|
1,703,090
|
1,410
|
|
Prince George’s County, Maryland, Special Obligation Bonds, National Harbor Project, Series
|
7/15 at 100.00
|
N/R
|
1,378,924
|
|
|
2005, 5.200%, 7/01/34
|
|
|
|
542
|
|
Prince George’s County, Maryland, Special Tax District Bonds, Victoria Falls Project, Series
|
7/13 at 100.00
|
N/R
|
522,195
|
|
|
2005, 5.250%, 7/01/35
|
|
|
|
1,200
|
|
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N, 5.250%,
|
No Opt. Call
|
Baa1
|
1,306,392
|
|
|
7/01/31 – AMBAC Insured
|
|
|
|
1,605
|
|
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005C,
|
No Opt. Call
|
BBB+
|
1,804,855
|
|
|
5.500%, 7/01/26 – AMBAC Insured
|
|
|
|
|
|
Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Bonds,
|
|
|
|
|
|
Series 2002G:
|
|
|
|
1,000
|
|
5.250%, 7/01/17
|
7/12 at 100.00
|
Baa1
|
1,008,330
|
1,205
|
|
5.250%, 7/01/20
|
7/12 at 100.00
|
Baa1
|
1,211,230
|
1,275
|
|
5.250%, 7/01/21
|
7/12 at 100.00
|
Baa1
|
1,280,980
|
1,500
|
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series
|
8/19 at 100.00
|
A+
|
1,678,830
|
|
|
2009A, 5.750%, 8/01/37
|
|
|
|
|
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A:
|
|
|
|
7,000
|
|
0.000%, 8/01/40 – NPFG Insured
|
No Opt. Call
|
Aa2
|
1,495,830
|
210
|
|
0.000%, 8/01/47 – AMBAC Insured
|
No Opt. Call
|
Aa2
|
29,373
|
125
|
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA,
|
No Opt. Call
|
A3
|
143,975
|
|
|
5.500%, 7/01/19 – NPFG Insured
|
|
|
|
30,762
|
|
Total Tax Obligation/Limited
|
|
|
26,884,275
|
|
|
Transportation – 3.0% (2.0% of Total Investments)
|
|
|
|
2,210
|
|
Maryland Transportation Authority, Revenue Bonds, Transportation Facilities Projects, Series
|
7/17 at 100.00
|
AA–
|
2,460,481
|
|
|
2007, 5.000%, 7/01/30 – AGM Insured (UB)
|
|
|
|
|
|
U.S. Guaranteed – 20.3% (13.6% of Total Investments) (4)
|
|
|
|
1,000
|
|
Annapolis, Maryland, General Obligation Public Improvement Refunding Bonds, Series 2002,
|
4/12 at 101.00
|
AA (4)
|
1,013,780
|
|
|
4.375%, 4/01/17 (Pre-refunded 4/01/12)
|
|
|
|
1,000
|
|
Baltimore Board of School Commissioners, Maryland, Revenue Bonds, City Public School System,
|
5/13 at 100.00
|
AA+ (4)
|
1,056,110
|
|
|
Series 2003A, 5.000%, 5/01/15 (Pre-refunded 5/01/13)
|
|
|
|
255
|
|
Baltimore, Maryland, Wastewater Project Revenue Bonds, Series 2006C, 5.000%, 7/01/31
|
7/16 at 100.00
|
AA (4)
|
302,920
|
|
|
(Pre-refunded 7/01/16) – AMBAC Insured
|
|
|
|
2,200
|
|
Maryland Economic Development Corporation, Lease Revenue Bonds, Department of Transportation
|
6/12 at 100.50
|
Aaa
|
2,236,630
|
|
|
Headquarters Building, Series 2002, 4.750%, 6/01/22 (Pre-refunded 6/01/12)
|
|
|
|
285
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Helix Health,
|
No Opt. Call
|
N/R (4)
|
320,485
|
|
|
Series 1997, 5.000%, 7/01/17 – AMBAC Insured (ETM)
|
|
|
|
725
|
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, LifeBridge Health
|
7/14 at 100.00
|
A2 (4)
|
804,032
|
|
|
System, Series 2004A, 5.125%, 7/01/34 (Pre-refunded 7/01/14)
|
|
|
|
585
|
|
Maryland Transportation Authority, Revenue Refunding Bonds, Transportation Facilities
|
No Opt. Call
|
AAA
|
667,029
|
|
|
Projects, First Series 1978, 6.800%, 7/01/16 – AMBAC Insured (ETM)
|
|
|
|
4,860
|
|
Prince George’s County Housing Authority, Maryland, GNMA Collateralized Mortgage Revenue
|
11/12 at 100.00
|
N/R (4)
|
5,011,778
|
|
|
Bonds, Fairview and Hillside Projects, Series 2002A, 4.700%, 11/20/22 (Pre-refunded 11/20/12)
|
|
|
|
1,000
|
|
Puerto Rico Public Finance Corporation, Commonwealth Appropriation Bonds, Series 1998A,
|
No Opt. Call
|
Aaa
|
1,207,730
|
|
|
5.125%, 6/01/24 – AMBAC Insured
|
|
|
|
575
|
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA,
|
No Opt. Call
|
A3 (4)
|
741,187
|
|
|
5.500%, 7/01/19 – NPFG Insured
|
|
|
|
2,000
|
|
University of Maryland, Auxiliary Facility and Tuition Revenue Bonds, Series 2002A, 5.125%,
|
4/12 at 100.00
|
AA+ (4)
|
2,008,920
|
|
|
4/01/22 (Pre-refunded 4/01/12)
|
|
|
|
1,000
|
|
Washington Suburban Sanitary District, Montgomery and Prince George’s Counties, Maryland,
|
6/15 at 100.00
|
AAA
|
1,145,368
|
|
|
Sewerage Disposal Bonds, Series 2005, 5.000%, 6/01/16 (Pre-refunded 6/01/15)
|
|
|
|
15,485
|
|
Total U.S. Guaranteed
|
|
|
16,515,969
|
|
|
Utilities – 1.5% (1.0% of Total Investments)
|
|
|
|
1,250
|
|
Maryland Energy Financing Administration, Revenue Bonds, AES Warrior Run Project, Series 1995,
|
5/12 at 100.00
|
N/R
|
1,257,625
|
|
|
7.400%, 9/01/19 (Alternative Minimum Tax)
|
|
|
|
|
|
Water and Sewer – 5.2% (3.5% of Total Investments)
|
|
|
|
2,590
|
|
Baltimore, Maryland, Revenue Refunding Bonds, Wastewater Projects, Series 2002A, 5.125%,
|
7/12 at 100.00
|
AA
|
2,622,867
|
|
|
7/01/42 – NPFG Insured
|
|
|
|
345
|
|
Baltimore, Maryland, Wastewater Project Revenue Bonds, Series 2006C, 5.000%, 7/01/31 –
|
7/16 at 100.00
|
AA
|
382,146
|
|
|
AMBAC Insured
|
|
|
|
660
|
|
Baltimore, Maryland, Wastewater Project Revenue Bonds, Series 2007D, 5.000%, 7/01/32 –
|
7/17 at 100.00
|
AA
|
724,818
|
|
|
AMBAC Insured
|
|
|
|
430
|
|
Maryland Water Quality Financing Administration, Revolving Loan Fund Revenue Bonds, Series
|
No Opt. Call
|
AAA
|
497,659
|
|
|
2005A, 5.000%, 9/01/15
|
|
|
|
4,025
|
|
Total Water and Sewer
|
|
|
4,227,490
|
$ 141,287
|
|
Total Investments (cost $115,190,817) – 149.2%
|
|
|
121,702,247
|
|
|
Floating Rate Obligations – (5.2)%
|
|
|
(4,255,000)
|
|
|
MuniFund Term Preferred Shares, at Liquidation Value – (46.3)% (5)
|
|
|
(37,766,000)
|
|
|
Other Assets Less Liabilities – 2.3%
|
|
|
1,872,892
|
|
|
Net Assets Applicable to Common Shares – 100%
|
|
|
$ 81,554,139
|