Chairman’s Letter to Shareholders
|
4
|
Portfolio Managers’ Comments
|
5
|
Fund Leverage
|
9
|
Common Share Information
|
11
|
Risk Considerations
|
13
|
Performance Overview and Holding Summaries
|
14
|
Portfolios of Investments
|
19
|
Statement of Assets and Liabilities
|
55
|
Statement of Operations
|
56
|
Statement of Changes in Net Assets
|
57
|
Statement of Cash Flows
|
59
|
Financial Highlights
|
62
|
Notes to Financial Statements
|
71
|
Reinvest Automatically, Easily and Conveniently
|
83
|
Glossary of Terms Used in this Report
|
84
|
Additional Fund Information
|
87
|
Nuveen Investments
|
3
|
4
|
Nuveen Investments
|
Certain statements in this report are forward-looking statements. Discussions of specific investments are for illustration only and are not intended as recommendations of individual investments. The forward-looking statements and other views expressed herein are those of the portfolio managers as of the date of this report. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements, and the views expressed herein are subject to change at any time, due to numerous market and other factors. The Funds disclaim any obligation to update publicly or revise any forward-looking statements or views expressed herein.
|
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, (Moody’s) Inc. or Fitch, Inc. (Fitch). Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below investment grade ratings. Certain bonds backed by U.S. government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.
|
Bond insurance guarantees only the payment of principal and interest on the bond when due, and not the value of the bonds themselves, which will fluctuate with the bond market and the financial success of the issuer and the insurer. Insurance relates specifically to the bonds in the portfolio and not to the share prices of a Fund. No representation is made as to the insurers’ ability to meet their commitments.
|
Nuveen Investments
|
5
|
6
|
Nuveen Investments
|
Nuveen Investments
|
7
|
8
|
Nuveen Investments
|
NKG
|
NMY
|
NOM
|
NNC
|
NPV
|
||||||||||||||||
Effective Leverage*
|
37.40 | % | 36.72 | % | 39.39 | % | 37.24 | % | 39.46 | % | ||||||||||
Regulatory Leverage*
|
34.81 | % | 33.11 | % | 36.63 | % | 35.33 | % | 34.65 | % |
*
|
Effective Leverage is a Fund’s effective economic leverage, and includes both regulatory leverage and the leverage effects of certain derivative and other investments in a Fund’s portfolio that increase the Fund’s investment exposure. Currently, the leverage effects of Tender Option Bond (TOB) inverse floater holdings are included in effective leverage values, in addition to any regulatory leverage. Regulatory leverage consists of preferred shares issued or borrowings of a Fund. Both of these are part of a Fund’s capital structure. Regulatory leverage is subject to asset coverage limits set forth in the Investment Company Act of 1940.
|
Nuveen Investments
|
9
|
MTP Shares | VRDP Shares | |||||||||||||||||||
Series
|
Shares
Issued at
Liquidation Value
|
Annual
Interest
Rate
|
NYSE/
NYSE MKT
Ticker
|
Series
|
Shares
Issued at
Liquidation Value
|
Total
|
||||||||||||||
NKG
|
2015
|
$
|
32,265,000
|
2.65
|
%
|
NKG PRC
|
—
|
$
|
—
|
|||||||||||
2015-1
|
$
|
28,340,000
|
2.65
|
%
|
NKG PRD
|
—
|
$
|
—
|
||||||||||||
2015-2
|
$
|
14,340,000
|
2.65
|
%
|
NKG PRE
|
—
|
$
|
—
|
||||||||||||
$
|
74,945,000
|
$
|
74,945,000
|
|||||||||||||||||
NMY
|
2015
|
$
|
38,775,000
|
2.65
|
%
|
NMY PRC
|
—
|
$
|
—
|
|||||||||||
2016
|
$
|
35,818,000
|
2.90
|
%
|
NMY PRD
|
—
|
$
|
—
|
||||||||||||
2015
|
$
|
26,485,000
|
2.60
|
%
|
NMY PRE
|
—
|
$
|
—
|
||||||||||||
2015-1
|
$
|
27,300,000
|
2.60
|
%
|
NMY PRF
|
—
|
$
|
—
|
||||||||||||
2015-1
|
$
|
20,700,000
|
2.65
|
%
|
NMY PRG
|
—
|
$
|
—
|
||||||||||||
2016
|
$
|
17,066,000
|
2.85
|
%
|
NMY PRH
|
—
|
$
|
—
|
||||||||||||
$
|
166,144,000
|
$
|
166,144,000
|
|||||||||||||||||
NOM
|
2015
|
$
|
17,800,000
|
2.10
|
%
|
NOM PRC
|
—
|
$
|
—
|
$
|
17,800,000
|
|||||||||
NNC
|
2015
|
$
|
24,300,000
|
2.65
|
%
|
NNC PRC
|
—
|
$
|
—
|
|||||||||||
2016
|
$
|
25,535,000
|
2.60
|
%
|
NNC PRD
|
—
|
$
|
—
|
||||||||||||
2015
|
$
|
16,600,000
|
2.60
|
%
|
NNC PRE
|
—
|
$
|
—
|
||||||||||||
2015-1
|
$
|
29,700,000
|
2.60
|
%
|
NNC PRF
|
—
|
$
|
—
|
||||||||||||
2015-1
|
$
|
28,725,000
|
2.65
|
%
|
NNC PRG
|
—
|
$
|
—
|
||||||||||||
$
|
124,860,000
|
$
|
124,860,000
|
|||||||||||||||||
NPV
|
$
|
—
|
—
|
—
|
1
|
$
|
128,000,000
|
$
|
128,000,000
|
10
|
Nuveen Investments
|
Per Common Share Amounts
|
||||||||||||||||
NKG
|
NMY
|
NOM
|
NNC
|
NPV
|
||||||||||||
June
|
$ 0.0535
|
$ 0.0555
|
$ 0.0610
|
$ 0.0503
|
$ 0.0595
|
|||||||||||
July
|
0.0535
|
0.0555
|
0.0610
|
0.0503
|
0.0595
|
|||||||||||
August
|
0.0535
|
0.0555
|
0.0610
|
0.0503
|
0.0595
|
|||||||||||
September
|
0.0535
|
0.0555
|
0.0610
|
0.0503
|
0.0595
|
|||||||||||
October
|
0.0535
|
0.0555
|
0.0610
|
0.0503
|
0.0595
|
|||||||||||
November
|
0.0535
|
0.0555
|
0.0610
|
0.0503
|
0.0595
|
|||||||||||
Market Yield**
|
5.52%
|
5.60%
|
5.62%
|
5.08%
|
6.02%
|
|||||||||||
Taxable-Equivalent Yield**
|
8.15%
|
8.24%
|
8.30%
|
7.65%
|
8.87%
|
**
|
Market Yield is based on the Fund’s current annualized monthly dividend divided by the Fund’s current market price as of the end of the reporting period. Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a combined federal and state income tax rate of 32.3%, 32.0%, 32.3%, 33.6% and 32.1% for Georgia, Maryland, Missouri, North Carolina and Virginia, respectively. When comparing a Fund to investments that generate taxable qualified dividend income, the Taxable-Equivalent Yield would be lower.
|
Nuveen Investments
|
11
|
NKG
|
NMY
|
NOM
|
NNC
|
NPV
|
|
Common Shares Cumulatively Repurchased and Retired
|
—
|
—
|
—
|
—
|
—
|
Common Shares Authorized for Repurchase
|
1,055,000
|
2,410,000
|
235,000
|
1,655,000
|
1,795,000
|
NKG
|
NMY
|
NOM
|
NNC
|
NPV
|
||||||||||||||||
Common Share NAV
|
$ | 13.30 | $ | 13.92 | $ | 13.28 | $ | 13.81 | $ | 13.46 | ||||||||||
Common Share Price
|
$ | 11.63 | $ | 11.89 | $ | 13.03 | $ | 11.88 | $ | 11.87 | ||||||||||
Premium/(Discount) to NAV
|
(12.56 | )% | (14.58 | )% | (1.88 | )% | (13.98 | )% | (11.81 | )% | ||||||||||
6-Month Average Premium/(Discount) to NAV
|
(9.97 | )% | (12.38 | )% | (5.34 | )% | (10.71 | )% | (7.84 | )% |
12
|
Nuveen Investments
|
Nuveen Investments
|
13
|
NKG
|
|
Nuveen Georgia Dividend Advantage Municipal Fund 2
|
|
Performance Overview and Holding Summaries as of November 30, 2013
|
Cumulative
|
Average Annual | ||||||||||||
6-Month
|
1-Year
|
5-Year
|
10-Year
|
||||||||||
NKG at Common Share NAV
|
(6.55)%
|
(8.48)%
|
7.95%
|
4.18%
|
|||||||||
NKG at Common Share Price
|
(10.79)%
|
(19.76)%
|
(5.46)%
|
3.56%
|
|||||||||
S&P Municipal Bond Georgia Index
|
(1.74)%
|
(2.76)%
|
6.45%
|
4.22%
|
|||||||||
S&P Municipal Bond Index
|
(2.73)%
|
(3.57)%
|
6.57%
|
4.44%
|
|||||||||
Lipper Other States Municipal Debt Funds Classification Average
|
(6.86)%
|
(9.17)%
|
9.24%
|
4.66%
|
Portfolio Composition1
|
|
(as a % of total investments)
|
|
Tax Obligation/General
|
23.8%
|
Water and Sewer
|
14.1%
|
Tax Obligation/Limited
|
14.0%
|
Health Care
|
11.7%
|
Education and Civic Organizations
|
10.3%
|
Utilities
|
6.2%
|
Transportation
|
6.2%
|
Other
|
13.7%
|
Credit Quality1,2,3
|
|
(as a % of total investment exposure)
|
|
AAA/U.S. Guaranteed
|
15.4%
|
AA
|
44.3%
|
A
|
22.5%
|
BBB
|
7.7%
|
BB or Lower
|
4.1%
|
N/R
|
3.6%
|
1
|
Holdings are subject to change.
|
2
|
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.
|
3
|
Percentages may not add to 100% due to the exclusion of other assets less liabilities from the table.
|
14
|
Nuveen Investments
|
NMY
|
|
Nuveen Maryland Premium Income Municipal Fund
|
|
Performance Overview and Holding Summaries as of November 30, 2013
|
Cumulative
|
Average Annual | ||||||||||||
6-Month
|
1-Year
|
5-Year
|
10-Year
|
||||||||||
NMY at Common Share NAV
|
(8.41)%
|
(8.78)%
|
8.27%
|
4.67%
|
|||||||||
NMY at Common Share Price
|
(11.63)%
|
(21.48)%
|
10.45%
|
2.70%
|
|||||||||
S&P Municipal Bond Maryland Index
|
(1.36)%
|
(2.10)%
|
6.04%
|
4.22%
|
|||||||||
S&P Municipal Bond Index
|
(2.73)%
|
(3.57)%
|
6.57%
|
4.44%
|
|||||||||
Lipper Other States Municipal Debt Funds Classification Average
|
(6.86)%
|
(9.17)%
|
9.24%
|
4.66%
|
Portfolio Composition1
|
|
(as a % of total investments)
|
|
Health Care
|
22.0%
|
Tax Obligation/Limited
|
14.5%
|
U.S. Guaranteed
|
13.7%
|
Education and Civic Organizations
|
10.1%
|
Housing/Single Family
|
6.2%
|
Tax Obligation/General
|
6.0%
|
Consumer Staples
|
4.7%
|
Transportation
|
4.3%
|
Other
|
18.5%
|
Credit Quality1,2,3
|
|
(as a % of total investment exposure)
|
|
AAA/U.S. Guaranteed
|
20.9%
|
AA
|
27.6%
|
A
|
21.7%
|
BBB
|
14.9%
|
BB or Lower
|
6.6%
|
N/R
|
4.6%
|
1
|
Holdings are subject to change.
|
2
|
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.
|
3
|
Percentage may not add to 100% due to the exclusion of other assets less liabilities from the table.
|
Nuveen Investments
|
15
|
NOM
|
|
Nuveen Missouri Premium Income Municipal Fund
|
|
Performance Overview and Holding Summaries as of November 30, 2013
|
Cumulative
|
Average Annual | ||||||||||||
6-Month
|
1-Year
|
5-Year
|
10-Year
|
||||||||||
NOM at Common Share NAV
|
(6.57)%
|
(7.53)%
|
8.80%
|
4.47%
|
|||||||||
NOM at Common Share Price
|
(16.54)%
|
(21.24)%
|
8.84%
|
2.51%
|
|||||||||
S&P Municipal Bond Missouri Index
|
(1.82)%
|
(2.58)%
|
7.69%
|
4.71%
|
|||||||||
S&P Municipal Bond Index
|
(2.73)%
|
(3.57)%
|
6.57%
|
4.44%
|
|||||||||
Lipper Other States Municipal Debt Funds Classification Average
|
(6.86)%
|
(9.17)%
|
9.24%
|
4.66%
|
Portfolio Composition1
|
|
(as a % of total investments)
|
|
Health Care
|
21.6%
|
Tax Obligation/Limited
|
14.7%
|
Water and Sewer
|
11.6%
|
Tax Obligation/General
|
11.0%
|
Education and Civic Organizations
|
9.7%
|
Long-Term Care
|
8.7%
|
Transportation
|
8.4%
|
U.S. Guaranteed
|
7.7%
|
Other
|
6.6%
|
Credit Quality1,2,3
|
|
(as a % of total investment exposure)
|
|
AAA/U.S. Guaranteed
|
13.4%
|
AA
|
31.5%
|
A
|
28.1%
|
BBB
|
19.2%
|
N/R
|
7.4%
|
1
|
Holdings are subject to change.
|
2
|
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.
|
3
|
Percentage may not add to 100% due to the exclusion of other assets less liabilities from the table.
|
16
|
Nuveen Investments
|
NNC
|
|
Nuveen North Carolina Premium Income Municipal Fund
|
|
Performance Overview and Holding Summaries as of November 30, 2013
|
Cumulative
|
Average Annual | ||||||||||||
6-Month
|
1-Year
|
5-Year
|
10-Year
|
||||||||||
NNC at Common Share NAV
|
(6.03)%
|
(8.75)%
|
7.39%
|
4.24%
|
|||||||||
NNC at Common Share Price
|
(12.29)%
|
(21.28)%
|
7.00%
|
1.66%
|
|||||||||
S&P Municipal Bond North Carolina Index
|
(1.63)%
|
(2.59)%
|
6.03%
|
4.44%
|
|||||||||
S&P Municipal Bond Index
|
(2.73)%
|
(3.57)%
|
6.57%
|
4.44%
|
|||||||||
Lipper Other States Municipal Debt Funds Classification Average
|
(6.86)%
|
(9.17)%
|
9.24%
|
4.66%
|
Portfolio Composition1
|
|
(as a % of total investments)
|
|
Health Care
|
21.9%
|
Water and Sewer
|
16.9%
|
U.S. Guaranteed
|
15.0%
|
Transportation
|
10.9%
|
Tax Obligation/Limited
|
10.7%
|
Education and Civic Organizations
|
9.5%
|
Utilities
|
6.3%
|
Other
|
8.8%
|
Credit Quality1,2,3
|
|
(as a % of total investment exposure)
|
|
AAA/U.S. Guaranteed
|
27.9%
|
AA
|
40.1%
|
A
|
22.4%
|
BBB
|
4.5%
|
N/R
|
2.2%
|
1
|
Holdings are subject to change.
|
2
|
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.
|
3
|
Percentage may not add to 100% due to the exclusion of other assets less liabilities from the table.
|
Nuveen Investments
|
17
|
NPV
|
|
Nuveen Virginia Premium Income Municipal Fund
|
|
Performance Overview and Holding Summaries as of November 30, 2013
|
Cumulative
|
Average Annual | ||||||||||||
6-Month
|
1-Year
|
5-Year
|
10-Year
|
||||||||||
NPV at Common Share NAV
|
(10.17)%
|
(11.95)%
|
7.65%
|
4.16%
|
|||||||||
NPV at Common Share Price
|
(14.73)%
|
(24.31)%
|
6.27%
|
1.76%
|
|||||||||
S&P Municipal Bond Virginia Index
|
(2.12)%
|
(3.17)%
|
5.97%
|
4.25%
|
|||||||||
S&P Municipal Bond Index
|
(2.73)%
|
(3.57)%
|
6.57%
|
4.44%
|
|||||||||
Lipper Other States Municipal Debt Funds Classification Average
|
(6.86)%
|
(9.17)%
|
9.24%
|
4.66%
|
Portfolio Composition1
|
|
(as a % of total investments)
|
|
Tax Obligation/Limited
|
20.1%
|
Health Care
|
18.9%
|
Transportation
|
13.6%
|
U.S. Guaranteed
|
11.3%
|
Tax Obligation/General
|
8.1%
|
Long-Term Care
|
5.9%
|
Education and Civic Organizations
|
5.6%
|
Water and Sewer
|
5.0%
|
Other
|
11.5%
|
Credit Quality1,2,3
|
|
(as a % of total investment exposure)
|
|
AAA/U.S. Guaranteed
|
23.8%
|
AA
|
33.6%
|
A
|
12.0%
|
BBB
|
20.6%
|
BB or Lower
|
4.0%
|
N/R
|
3.8%
|
1
|
Holdings are subject to change.
|
2
|
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.
|
3
|
Percentage may not add to 100% due to the exclusion of other assets less liabilities from the table.
|
18
|
Nuveen Investments
|
NKG
|
|
Nuveen Georgia Dividend Advantage Municipal Fund 2
|
|
Portfolio of Investments
|
|
November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
LONG-TERM INVESTMENTS – 151.8% (100.0% of Total Investments)
|
|||||||||||
MUNICIPAL BONDS – 151.8% (100.0% of Total Investments)
|
|||||||||||
Consumer Staples – 3.8% (2.5% of Total Investments)
|
|||||||||||
$
|
45,000
|
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Bonds, Series 2005A, 0.000%, 5/15/50
|
5/15 at 11.19
|
BB–
|
$
|
2,641,049
|
|||||
3,000
|
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, Series 2002, 5.500%, 5/15/39
|
2/14 at 100.00
|
BBB
|
2,619,180
|
|||||||
48,000
|
Total Consumer Staples
|
5,260,229
|
|||||||||
Education and Civic Organizations – 15.6% (10.3% of Total Investments)
|
|||||||||||
1,750
|
Athens Housing Authority, Georgia, Student Housing Lease Revenue Bonds, UGAREF East Campus Housing LLC Project, Series 2009, 5.250%, 6/15/35
|
6/19 at 100.00
|
Aa2
|
1,822,450
|
|||||||
5,000
|
Atlanta Development Authority, Georgia, Educational Facilities Revenue Bonds, Science Park LLC Project, Series 2007, 5.000%, 7/01/39
|
7/17 at 100.00
|
Aa3
|
5,047,999
|
|||||||
700
|
Carrollton Payroll Development Authority, Georgia, Student Housing Revenue Bonds, University of West Georgia, Series 2004A, 5.000%, 9/01/21 – SYNCORA GTY Insured
|
9/14 at 100.00
|
A1
|
724,129
|
|||||||
1,340
|
Douglas County Development Authority, Georagia, Charter School Revenue Bonds, Brighten Academy Project, Series 2013B, 7.000%, 10/01/43
|
10/23 at 100.00
|
Aa2
|
1,318,413
|
|||||||
625
|
Fulton County Development Authority, Georgia, Revenue Bonds, Georgia Tech Foundation Technology Square Project, Series 2012A, 5.000%, 11/01/31
|
5/22 at 100.00
|
AA+
|
674,863
|
|||||||
1,535
|
Fulton County Development Authority, Georgia, Revenue Bonds, Georgia Tech Molecular Science Building, Series 2004, 5.250%, 5/01/15 – NPFG Insured
|
5/14 at 100.00
|
Aa3
|
1,566,805
|
|||||||
150
|
Georgia Higher Education Facilities Authority, Revenue Bonds, USG Real Estate Foundation I LLC Project, Series 2008, 6.000%, 6/15/28
|
6/18 at 100.00
|
A2
|
167,979
|
|||||||
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Emory University, Series 2009, Trust 3404:
|
|||||||||||
730
|
18.206%, 3/01/17 (IF)
|
No Opt. Call
|
AA
|
917,807
|
|||||||
1,150
|
18.236%, 3/01/17 (IF)
|
No Opt. Call
|
AA
|
1,360,036
|
|||||||
3,000
|
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Emory University, Series 2013A, 5.000%, 10/01/43
|
10/23 at 100.00
|
AA+
|
3,176,730
|
|||||||
1,325
|
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University Project, Refunding Series 2012C, 5.250%, 10/01/30
|
10/22 at 100.00
|
Baa2
|
1,340,781
|
|||||||
1,000
|
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Series 2012A, 5.000%, 10/01/32
|
10/21 at 100.00
|
Baa2
|
976,090
|
|||||||
1,180
|
Savannah Economic Development Authority, Georgia, Revenue Bonds, Armstrong Atlantic State University, Compass Point LLC Project, Series 2005, 5.000%, 7/01/25 – SYNCORA GTY Insured
|
7/15 at 100.00
|
A2
|
1,254,600
|
|||||||
1,490
|
Savannah Economic Development Authority, Georgia, Revenue Bonds, Armstrong Center LLC, Series 2005A, 5.000%, 12/01/34 – SYNCORA GTY Insured
|
12/15 at 100.00
|
A3
|
1,519,964
|
|||||||
20,975
|
Total Education and Civic Organizations
|
21,868,646
|
|||||||||
Health Care – 17.8% (11.7% of Total Investments)
|
|||||||||||
Baldwin County Hospital Authority, Georgia, Revenue Bonds, Oconee Regional Medical Center, Series 1998:
|
|||||||||||
205
|
5.250%, 12/01/22
|
2/14 at 100.00
|
B
|
188,260
|
|||||||
745
|
5.375%, 12/01/28
|
6/14 at 100.00
|
B
|
642,965
|
|||||||
Coffee County Hospital Authority, Georgia, Revenue Bonds, Coffee County Regional Medical Center, Series 2004:
|
|||||||||||
285
|
5.000%, 12/01/19
|
12/14 at 100.00
|
BB–
|
280,363
|
|||||||
2,400
|
5.250%, 12/01/22
|
12/14 at 100.00
|
BB–
|
2,336,256
|
|||||||
255
|
5.000%, 12/01/26
|
12/14 at 100.00
|
BB–
|
234,580
|
Nuveen Investments
|
19
|
NKG
|
Nuveen Georgia Dividend Advantage Municipal Fund 2 (continued)
|
Portfolio of Investments November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Health Care (continued)
|
|||||||||||
$
|
715
|
Coweta County Development Authority, Georgia, Revenue Bonds, Piedmont Healthcare, Inc. Project, Series 2010, 5.000%, 6/15/40
|
6/20 at 100.00
|
AA–
|
$
|
704,647
|
|||||
2,500
|
Franklin County Industrial Building Authority, Georgia, Revenue Bonds, Ty Cobb Regional Medical Center Project, Series 2010, 8.000%, 12/01/40
|
12/20 at 100.00
|
N/R
|
2,582,225
|
|||||||
Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc., Series 2010B:
|
|||||||||||
1,000
|
5.125%, 2/15/40
|
2/20 at 100.00
|
AA–
|
1,003,880
|
|||||||
3,945
|
5.250%, 2/15/45
|
2/41 at 100.00
|
AA–
|
3,986,303
|
|||||||
1,620
|
Greene County Development Authority, Georgia, Health System Revenue Bonds, Catholic Health East Issue, Series 2012, 5.000%, 11/15/37
|
No Opt. Call
|
Aa2
|
1,622,284
|
|||||||
2,540
|
Houston County Hospital Authority, Georgia, Revenue Bonds, Houston Healthcare Project, Series 2007, 5.250%, 10/01/35
|
10/17 at 100.00
|
A+
|
2,566,619
|
|||||||
Macon-Bibb County Hospital Authority, Georgia, Revenue Anticipation Certificates, Medical Center of Central Georgia Inc., Series 2009:
|
|||||||||||
425
|
5.000%, 8/01/32
|
8/19 at 100.00
|
AA
|
438,604
|
|||||||
975
|
5.000%, 8/01/35
|
8/19 at 100.00
|
AA
|
995,680
|
|||||||
1,470
|
Medical Center Hospital Authority, Georgia, Revenue Anticipation Certificates, Columbus Regional Healthcare System, Inc. Project, Series 2010, 5.000%, 8/01/21 – AGM Insured
|
No Opt. Call
|
AA–
|
1,628,789
|
|||||||
3,500
|
Savannah Hospital Authority, Georgia, Revenue Bonds, St. Joseph’s Candler Health System, Series 2003, 5.250%, 7/01/23 – RAAI Insured
|
1/14 at 100.00
|
A3
|
3,515,995
|
|||||||
2,300
|
Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia Medical Center, Series 2007, 5.000%, 10/01/33
|
10/17 at 100.00
|
A+
|
2,295,538
|
|||||||
24,880
|
Total Health Care
|
25,022,988
|
|||||||||
Housing/Multifamily – 4.9% (3.2% of Total Investments)
|
|||||||||||
1,205
|
Atlanta Urban Residential Finance Authority, Georgia, Multifamily Housing Revenue Bonds, Testletree Village Apartments, Series 2013A, 4.500%, 11/01/35
|
11/23 at 100.00
|
A–
|
1,018,587
|
|||||||
1,600
|
Cobb County Development Authority, Georgia, Revenue Bonds, KSU University II Real Estate Foundation, LLC Project, Series 2011, 5.000%, 7/15/41 – AGM Insured
|
7/21 at 100.00
|
AA–
|
1,626,287
|
|||||||
1,375
|
Cobb County Development Authority, Georgia, Student Housing Revenue Bonds, KSU Village II Real Estate Foundation LLC Project, Series 2007A, 5.250%, 7/15/38 – AMBAC Insured
|
7/17 at 100.00
|
Baa2
|
1,312,781
|
|||||||
Savannah Economic Development Authority, Georgia, GNMA Collateralized Multifamily Housing Revenue Bonds, Snap I-II-III Apartments, Series 2002A:
|
|||||||||||
500
|
5.150%, 11/20/22 (Alternative Minimum Tax)
|
11/14 at 100.00
|
AA+
|
505,435
|
|||||||
980
|
5.200%, 11/20/27 (Alternative Minimum Tax)
|
11/14 at 100.00
|
AA+
|
986,086
|
|||||||
1,465
|
5.250%, 11/20/32 (Alternative Minimum Tax)
|
11/14 at 100.00
|
AA+
|
1,470,977
|
|||||||
7,125
|
Total Housing/Multifamily
|
6,920,153
|
|||||||||
Housing/Single Family – 0.8% (0.5% of Total Investments)
|
|||||||||||
Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2006C-2:
|
|||||||||||
1,000
|
4.500%, 12/01/27 (Alternative Minimum Tax)
|
12/15 at 100.00
|
AAA
|
1,001,860
|
|||||||
170
|
4.550%, 12/01/31 (Alternative Minimum Tax)
|
12/15 at 100.00
|
AAA
|
164,557
|
|||||||
1,170
|
Total Housing/Single Family
|
1,166,417
|
|||||||||
Industrials – 3.0% (2.0% of Total Investments)
|
|||||||||||
2,190
|
Cobb County Development Authority, Georgia, Solid Waste Disposal Revenue Bonds, Georgia Waste Management Project, Series 2004A, 5.000%, 4/01/33 (Alternative Minimum Tax)
|
4/16 at 101.00
|
BBB
|
2,194,928
|
|||||||
2,000
|
Fulton County Development Authority, Georgia, Local District Cooling Authority Revenue Bonds, Maxon Atlantic Station LLC, Series 2005A, 5.125%, 3/01/26 (Mandatory put 3/01/15) (Alternative Minimum Tax)
|
9/15 at 100.00
|
BBB
|
1,999,280
|
|||||||
4,190
|
Total Industrials
|
4,194,208
|
|||||||||
Materials – 2.3% (1.5% of Total Investments)
|
|||||||||||
2,000
|
Richmond County Development Authority, Georgia, Environmental Improvement Revenue Bonds, International Paper Company, Series 2001A, 6.250%, 2/01/25 (Alternative Minimum Tax)
|
2/14 at 100.00
|
BBB
|
2,000,140
|
|||||||
20
|
Richmond County Development Authority, Georgia, Environmental Improvement Revenue Bonds, International Paper Company, Series 2003A, 5.750%, 11/01/27 (Alternative Minimum Tax)
|
2/14 at 100.00
|
BBB
|
19,999
|
20
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Materials (continued)
|
|||||||||||
$
|
850
|
Richmond County Development Authority, Georgia, Environmental Improvement Revenue Refunding Bonds, International Paper Company, Series 2002A, 6.000%, 2/01/25 (Alternative Minimum Tax)
|
2/14 at 100.00
|
BBB
|
$
|
850,068
|
|||||
390
|
Savannah Economic Development Authority, Georgia, Pollution Control Revenue Bonds, Union Camp Corporation, Series 1995, 6.150%, 3/01/17
|
No Opt. Call
|
Baa3
|
416,126
|
|||||||
3,260
|
Total Materials
|
3,286,333
|
|||||||||
Tax Obligation/General – 36.1% (23.8% of Total Investments)
|
|||||||||||
2,000
|
Chatham County Hospital Authority, Georgia, Seven Mill Tax Pledge Refunding and Improvement Revenue Bonds, Memorial Health University Medical Center Inc., Series 2012A, 5.000%, 1/01/31
|
1/22 at 100.00
|
AA
|
2,080,860
|
|||||||
1,500
|
Cherokee County Resource Recovery Development Authority, Georgia, Solid Waste Disposal Revenue Bonds, Ball Ground Recycling LLC Project, Series 2007A, 5.000%, 7/01/37 – AMBAC Insured (Alternative Minimum Tax)
|
7/17 at 100.00
|
AA+
|
1,508,730
|
|||||||
1,000
|
Clark County Hospital Authority, Georgia, Hospital Revenue Bonds, Athens Regional Medical Center, Series 2007, 5.000%, 1/01/27 – NPFG Insured
|
1/17 at 100.00
|
Aa1
|
1,071,420
|
|||||||
600
|
Clarke County Hospital Authority, Georgia, Hospital Revenue Certificates, Athens Regional Medical Center, Series 2012, 5.000%, 1/01/32
|
1/22 at 100.00
|
Aa1
|
613,998
|
|||||||
3,315
|
Decatur, Georgia, General Obligation Bonds, Series 2007, 5.000%, 1/01/31 – AGM Insured
|
1/17 at 100.00
|
AA+
|
3,514,033
|
|||||||
2,000
|
East Point Building Authority, Georgia, Revenue Bonds, Water and Sewer Project Revenue Bonds, Series 2006A, 5.000%, 2/01/34 – SYNCORA GTY Insured
|
2/16 at 100.00
|
N/R
|
1,898,140
|
|||||||
1,090
|
Floyd County Hospital Authority, Georgia, Revenue Anticipation Certificates, Floyd Medical Center, Series 2003, 5.000%, 7/01/19 – NPFG Insured
|
7/15 at 100.00
|
Aa2
|
1,105,042
|
|||||||
1,135
|
Floyd County Hospital Authority, Georgia, Revenue Anticipation Certificates, Floyd Medical Center, Series 2012B, 5.000%, 7/01/23
|
No Opt. Call
|
Aa2
|
1,269,725
|
|||||||
1,500
|
Forsyth County Water and Sewerage Authority, Georgia, Revenue Bonds, Series 2007, 5.000%, 4/01/37 – AGM Insured
|
4/17 at 100.00
|
Aaa
|
1,566,885
|
|||||||
6,400
|
Georgia Environmental Loan Acquisition Corporation, Local Government Loan Securitization Bonds, Loan Pool Series 2011, 5.125%, 3/15/31
|
3/21 at 100.00
|
Aaa
|
6,792,127
|
|||||||
Georgia Municipal Association Inc., Certificates of Participation, Riverdale Public Purpose Project, Series 2009:
|
|||||||||||
905
|
5.375%, 5/01/32 – AGC Insured
|
5/19 at 100.00
|
AA–
|
941,363
|
|||||||
1,165
|
5.500%, 5/01/38 – AGC Insured
|
5/19 at 100.00
|
AA–
|
1,201,232
|
|||||||
2,500
|
Georgia State, General Obligation Bonds, Series 2005B, 5.000%, 7/01/15
|
No Opt. Call
|
AAA
|
2,689,225
|
|||||||
2,500
|
Georgia State, General Obligation Bonds, Series 2007E, 5.000%, 8/01/24
|
8/17 at 100.00
|
AAA
|
2,833,800
|
|||||||
1,000
|
Georgia State, General Obligation Bonds, Series 2009B, 5.000%, 1/01/26
|
1/19 at 100.00
|
AAA
|
1,133,570
|
|||||||
750
|
Georgia, General Obligation Bonds, Series 1998D, 5.250%, 10/01/15
|
No Opt. Call
|
AAA
|
818,535
|
|||||||
3,500
|
Gwinnett County School District, Georgia, General Obligation Bonds, Series 2013, 5.000%, 2/01/36
|
2/23 at 100.00
|
AAA
|
3,783,079
|
|||||||
4,900
|
Gwinnett County School District, Georgia, General Obligation Bonds, Series 2008, 5.000%, 2/01/36 (UB)
|
2/18 at 100.00
|
AAA
|
5,268,676
|
|||||||
1,560
|
Henry County Hospital Authority, Georgia, Revenue Certificates, Henry Medical Center, Series 2004, 5.000%, 7/01/20 – NPFG Insured
|
7/14 at 101.00
|
Aa1
|
1,617,439
|
|||||||
445
|
La Grange-Troup County Hospital Authority, Georgia, Revenue Anticipation Certificates, Series 2008A, 5.500%, 7/01/38
|
7/18 at 100.00
|
Aa2
|
469,698
|
|||||||
2,475
|
Paulding County School District, Georgia, General Obligation Bonds, Series 2007, 5.000%, 2/01/33
|
2/17 at 100.00
|
AA+
|
2,625,158
|
|||||||
2,250
|
Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia Medical Center Project, Series 2011B, 5.000%, 10/01/41
|
10/21 at 100.00
|
Aa2
|
2,246,490
|
|||||||
1,450
|
Wayne County Hospital Authority, Georgia, Hospital Revenue Bonds, Series 2006, 5.000%, 3/01/23 – SYNCORA GTY Insured
|
3/16 at 100.00
|
N/R
|
1,443,519
|
|||||||
2,000
|
Winder-Barrow Industrial Building Authority, Georgia, Revenue Bonds, City of Winder Project, Refunding Series 2012, 5.000%, 12/01/29 – AGM Insured
|
12/21 at 100.00
|
A1
|
2,141,520
|
|||||||
47,940
|
Total Tax Obligation/General
|
50,634,264
|
Nuveen Investments
|
21
|
NKG
|
Nuveen Georgia Dividend Advantage Municipal Fund 2 (continued)
|
Portfolio of Investments November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Tax Obligation/Limited – 21.2% (14.0% of Total Investments)
|
|||||||||||
Atlanta, Georgia, Tax Allocation Bonds Atlanta Station Project, Series 2007:
|
|||||||||||
$
|
110
|
5.250%, 12/01/19 – AGC Insured
|
12/17 at 100.00
|
AA–
|
$
|
119,709
|
|||||
50
|
5.250%, 12/01/20
|
No Opt. Call
|
AA–
|
53,764
|
|||||||
80
|
5.250%, 12/01/21 – AGC Insured
|
12/17 at 100.00
|
AA–
|
85,090
|
|||||||
1,080
|
5.000%, 12/01/23 – AGC Insured
|
12/17 at 100.00
|
AA–
|
1,124,032
|
|||||||
1,500
|
Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008B. Remarketed, 7.375%, 1/01/31
|
1/19 at 100.00
|
A2
|
1,729,815
|
|||||||
280
|
Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008C. Remarketed, 7.500%, 1/01/31
|
1/19 at 100.00
|
A2
|
324,428
|
|||||||
730
|
Atlanta, Georgia, Tax Allocation Bonds, Eastside Project, Series 2005A, 5.625%, 1/01/16 (Alternative Minimum Tax)
|
7/15 at 100.00
|
A–
|
771,814
|
|||||||
Atlanta, Georgia, Tax Allocation Bonds, Eastside Project, Series 2005B:
|
|||||||||||
2,030
|
5.400%, 1/01/20
|
7/15 at 100.00
|
A–
|
2,134,586
|
|||||||
1,175
|
5.600%, 1/01/30
|
7/15 at 100.00
|
A–
|
1,223,528
|
|||||||
3,420
|
Atlanta, Georgia, Tax Allocation Bonds, Princeton Lakes Project, Series 2006, 5.500%, 1/01/31
|
1/16 at 100.00
|
BBB–
|
3,420,479
|
|||||||
2,000
|
Cobb-Marietta Coliseum and Exhibit Hall Authority, Cobb County, Georgia, Revenue Bonds, Performing Arts Center, Series 2004, 5.000%, 1/01/22
|
1/14 at 100.00
|
AAA
|
2,008,300
|
|||||||
375
|
Cobb-Marietta Coliseum and Exhibit Hall Authority, Georgia, Revenue Bonds, Refunding Series 2005, 5.500%, 10/01/26 – NPFG Insured
|
No Opt. Call
|
A+
|
430,868
|
|||||||
Cobb-Marietta Coliseum and Exhibit Hall Authority, Georgia, Revenue Refunding Bonds, Series 1993:
|
|||||||||||
395
|
5.500%, 10/01/18 – NPFG Insured
|
No Opt. Call
|
A
|
423,594
|
|||||||
5,745
|
5.625%, 10/01/26 – NPFG Insured
|
10/19 at 100.00
|
A
|
6,256,591
|
|||||||
2,970
|
Georgia Local Governments, Certificates of Participation, Georgia Municipal Association, Series 1998A, 4.750%, 6/01/28 – NPFG Insured
|
No Opt. Call
|
A
|
2,888,058
|
|||||||
750
|
Georgia Municipal Association Inc., Certificates of Participation, Atlanta Court Project, Series 2002, 5.125%, 12/01/21 – AMBAC Insured
|
2/14 at 100.00
|
N/R
|
750,983
|
|||||||
1,589
|
Liberty County Industrial Authority, Georgia, Revenue Bonds, Series 2011A-1, 4.600%, 7/01/26
|
No Opt. Call
|
N/R
|
1,291,634
|
|||||||
3,460
|
Metropolitan Atlanta Rapid Transit Authority, Georgia, Sales Tax Revenue Refunding Bonds, Series 1992P, 6.250%, 7/01/20 – AMBAC Insured
|
No Opt. Call
|
Aa2
|
3,889,386
|
|||||||
810
|
Tift County Hospital Authority, Georgia, Revenue Anticipation Certificates Series 2012, 5.000%, 12/01/38
|
No Opt. Call
|
AA–
|
826,484
|
|||||||
28,549
|
Total Tax Obligation/Limited
|
29,753,143
|
|||||||||
Transportation – 9.4% (6.2% of Total Investments)
|
|||||||||||
2,290
|
Atlanta, Georgia, Airport General Revenue Bonds, Series 2004G, 5.000%, 1/01/26 – AGM Insured
|
1/15 at 100.00
|
AA–
|
2,387,782
|
|||||||
2,000
|
Atlanta, Georgia, Airport General Revenue Bonds, Series 2012B, 5.000%, 1/01/31
|
No Opt. Call
|
A+
|
2,097,500
|
|||||||
2,810
|
Atlanta, Georgia, Airport General Revenue Bonds, Series 2012C, 5.000%, 1/01/42 (Alternative Minimum Tax)
|
1/22 at 100.00
|
A+
|
2,809,859
|
|||||||
2,000
|
Atlanta, Georgia, Airport General Revenue Refunding Bonds, Series 2011B, 5.000%, 1/01/30
|
1/21 at 100.00
|
A+
|
2,041,780
|
|||||||
1,000
|
Atlanta, Georgia, Airport Passenger Facilities Charge Revenue Bonds, Refunding Series 2004C, 5.000%, 1/01/33 – AGM Insured
|
7/14 at 100.00
|
AA–
|
1,017,160
|
|||||||
1,000
|
Atlanta, Georgia, Airport Passenger Facilities Charge Revenue Bonds, Series 2004J, 5.000%, 1/01/34 – AGM Insured
|
1/15 at 100.00
|
AA–
|
1,028,140
|
|||||||
1,500
|
Clayton County Development Authority, Georgia, Special Facilities Revenue Bonds, Delta Air Lines, Inc. Project, Series 2009A, 8.750%, 6/01/29
|
6/20 at 100.00
|
B
|
1,744,905
|
|||||||
12,600
|
Total Transportation
|
13,127,126
|
|||||||||
U.S. Guaranteed – 6.1% (4.0% of Total Investments) (4)
|
|||||||||||
500
|
Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2004, 5.250%, 11/01/15 (Pre-refunded 11/01/14) – AGM Insured
|
11/14 at 100.00
|
AA– (4)
|
523,400
|
|||||||
2,425
|
Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2004, 5.000%, 11/01/24 (Pre-refunded 11/01/14) – AGM Insured
|
11/14 at 100.00
|
AA– (4)
|
2,532,913
|
|||||||
1,550
|
Bulloch County Development Authority, Georgia, Student Housing and Athletic Facility Lease Revenue Bonds, Georgia Southern University, Series 2004, 5.250%, 8/01/21 (Pre-refunded 8/01/14) – SYNCORA GTY Insured
|
8/14 at 100.00
|
A1 (4)
|
1,603,165
|
22
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
U.S. Guaranteed (4) (continued)
|
|||||||||||
$
|
1,000
|
Forsyth County, Georgia, General Obligation Bonds, Series 2004, 5.250%, 3/01/19 (Pre-refunded 3/01/14)
|
3/14 at 101.00
|
Aaa
|
$
|
1,023,130
|
|||||
Fulton County, Georgia, Water and Sewerage Revenue Bonds, Series 2004:
|
|||||||||||
2,450
|
5.000%, 1/01/22 (Pre-refunded 1/01/14) – FGIC Insured
|
1/14 at 100.00
|
AA– (4)
|
2,460,682
|
|||||||
385
|
5.000%, 1/01/35 (Pre-refunded 1/01/14) – FGIC Insured
|
1/14 at 100.00
|
AA– (4)
|
386,679
|
|||||||
25
|
Georgia Municipal Electric Authority, Senior Lien General Power Revenue Bonds, Series 1993Z, 5.500%, 1/01/20 (Pre-refunded 1/01/17) – FGIC Insured
|
1/17 at 100.00
|
A+ (4)
|
28,174
|
|||||||
8,335
|
Total U.S. Guaranteed
|
8,558,143
|
|||||||||
Utilities – 9.4% (6.2% of Total Investments)
|
|||||||||||
525
|
Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power Company – Vogtle Plant, First Series 2012, 1.750%, 12/01/49 (Mandatory put 6/01/17)
|
No Opt. Call
|
A+
|
527,699
|
|||||||
2,000
|
Georgia Municipal Electric Authority, General Power Revenue Bonds, Project 1, Series 2007A, 5.000%, 1/01/25 – NPFG Insured
|
1/17 at 100.00
|
A+
|
2,125,980
|
|||||||
3,000
|
Georgia Municipal Electric Authority, General Power Revenue Bonds, Series 2012GG, 5.000%, 1/01/43
|
1/23 at 100.00
|
A+
|
3,052,499
|
|||||||
755
|
Georgia Municipal Electric Authority, Senior Lien General Power Revenue Bonds, Series 1993Z, 5.500%, 1/01/20 – FGIC Insured
|
No Opt. Call
|
A+
|
813,988
|
|||||||
Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2006B:
|
|||||||||||
1,000
|
5.000%, 3/15/20
|
No Opt. Call
|
A
|
1,097,870
|
|||||||
1,300
|
5.000%, 3/15/21
|
No Opt. Call
|
A
|
1,426,750
|
|||||||
1,500
|
5.000%, 3/15/22
|
No Opt. Call
|
A
|
1,623,135
|
|||||||
Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2007A:
|
|||||||||||
350
|
5.125%, 9/15/17
|
No Opt. Call
|
A
|
384,717
|
|||||||
950
|
5.000%, 3/15/18
|
No Opt. Call
|
A+
|
1,048,278
|
|||||||
1,200
|
Virgin Islands Water and Power Authority, Electric System Revenue Bonds, Series 2007B, 5.000%, 7/01/31
|
7/17 at 100.00
|
BB+
|
1,048,188
|
|||||||
12,580
|
Total Utilities
|
13,149,104
|
|||||||||
Water and Sewer – 21.4% (14.1% of Total Investments)
|
|||||||||||
Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2004:
|
|||||||||||
260
|
5.750%, 11/01/30 – AGM Insured
|
No Opt. Call
|
AA–
|
301,228
|
|||||||
700
|
5.000%, 11/01/37 – AGM Insured
|
11/14 at 100.00
|
AA–
|
702,128
|
|||||||
5,105
|
Cherokee County Water and Sewerage Authority, Georgia, Revenue Bonds, Series 2001, 5.000%, 8/01/35 – AGM Insured
|
8/18 at 100.00
|
AA
|
5,303,992
|
|||||||
Coweta County Water and Sewer Authority, Georgia, Revenue Bonds, Series 2007:
|
|||||||||||
1,000
|
5.000%, 6/01/32
|
6/18 at 100.00
|
Aa2
|
1,038,060
|
|||||||
1,000
|
5.000%, 6/01/37
|
6/18 at 100.00
|
Aa2
|
1,020,710
|
|||||||
DeKalb County, Georgia, Water and Sewerage Revenue Bonds, Refunding Series 2006B:
|
|||||||||||
6,000
|
5.250%, 10/01/32 – AGM Insured
|
10/26 at 100.00
|
Aa2
|
6,557,519
|
|||||||
300
|
5.000%, 10/01/35 – AGM Insured
|
No Opt. Call
|
Aa2
|
315,387
|
|||||||
5,350
|
DeKalb County, Georgia, Water and Sewerage Revenue Bonds, Second Resolution Series 2011A, 5.250%, 10/01/41
|
10/21 at 100.00
|
Aa3
|
5,637,563
|
|||||||
2,225
|
Douglasville-Douglas County Water and Sewer Authority, Georgia, Water and Sewage Revenue Bonds, Series 2007, 5.000%, 6/01/37 – NPFG Insured
|
6/17 at 100.00
|
Aa2
|
2,299,093
|
|||||||
1,000
|
Douglasville-Douglas County Water and Sewer Authority, Georgia, Water and Sewer Revenue Bonds, Series 2005, 5.000%, 6/01/29 – NPFG Insured
|
12/15 at 100.00
|
Aa2
|
1,059,570
|
|||||||
1,000
|
Fulton County, Georgia, Water and Sewerage Revenue Bonds, Refunding Series 2013, 5.000%, 1/01/33
|
1/23 at 100.00
|
AA–
|
1,068,460
|
|||||||
500
|
Georgia Environmental Loan Acquisition Corporation, Local Government Loan Securitization Bonds, Cobb County-Marietta Water Authority Loans, Series 2011, 5.250%, 2/15/36
|
2/21 at 100.00
|
Aaa
|
525,670
|
Nuveen Investments
|
23
|
NKG
|
Nuveen Georgia Dividend Advantage Municipal Fund 2 (continued)
|
Portfolio of Investments November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Water and Sewer (continued)
|
|||||||||||
$
|
1,000
|
Midgeville, Georgia, Water and Sewerage Revenue Refunding Bonds, Series 1996, 6.000%, 12/01/21 – AGM Insured
|
No Opt. Call
|
AA–
|
$
|
1,172,850
|
|||||
1,000
|
Unified Government of Athens-Clarke County, Georgia, Water and Sewerage Revenue Bonds, Series 2008, 5.500%, 1/01/38
|
1/19 at 100.00
|
AA+
|
1,096,360
|
|||||||
1,975
|
Walton County Water and Sewerage Authority, Georgia, Revenue Bonds, The Oconee-Hard Creek Reservoir Project, Series 2008, 5.000%, 2/01/38 – AGM Insured
|
2/18 at 100.00
|
Aa2
|
1,999,312
|
|||||||
28,415
|
Total Water and Sewer
|
30,097,902
|
|||||||||
$
|
248,019
|
Total Long-Term Investments (cost $210,582,832)
|
213,038,656
|
||||||||
Floating Rate Obligations – (2.3)%
|
(3,245,000
|
) | |||||||||
MuniFund Term Preferred Shares, at Liquidation Value – (53.4)% (5)
|
(74,945,000
|
) | |||||||||
Other Assets Less Liabilities – 3.9%
|
5,480,484
|
||||||||||
Net Assets Applicable to Common Shares – 100%
|
$
|
140,329,140
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.
|
(2)
|
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.
|
(3)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
(4)
|
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.
|
(5)
|
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 35.2%
|
(IF)
|
Inverse floating rate investment.
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities for more information.
|
24
|
Nuveen Investments
|
NMY
|
|
Nuveen Maryland Premium Income Municipal Fund
|
|
Portfolio of Investments
|
|
November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
LONG-TERM INVESTMENTS – 150.2% (100.0% of Total Investments)
|
|||||||||||
MUNICIPAL BONDS – 150.2% (100.0% of Total Investments)
|
|||||||||||
Consumer Discretionary – 4.4% (2.9% of Total Investments)
|
|||||||||||
Baltimore, Maryland, Senior Lien Convention Center Hotel Revenue Bonds, Series 2006A:
|
|||||||||||
$
|
540
|
5.000%, 9/01/16 – SYNCORA GTY Insured
|
No Opt. Call
|
BB+
|
$
|
567,238
|
|||||
400
|
5.250%, 9/01/19 – SYNCORA GTY Insured
|
9/16 at 100.00
|
BB+
|
415,600
|
|||||||
265
|
5.250%, 9/01/25 – SYNCORA GTY Insured
|
9/16 at 100.00
|
BB+
|
261,324
|
|||||||
350
|
5.250%, 9/01/27 – SYNCORA GTY Insured
|
9/16 at 100.00
|
BB+
|
336,382
|
|||||||
350
|
4.600%, 9/01/30 – SYNCORA GTY Insured
|
9/16 at 100.00
|
BB+
|
303,307
|
|||||||
100
|
5.000%, 9/01/32 – SYNCORA GTY Insured
|
9/16 at 100.00
|
BB+
|
89,758
|
|||||||
12,165
|
5.250%, 9/01/39 – SYNCORA GTY Insured
|
9/16 at 100.00
|
BB+
|
10,814,928
|
|||||||
1,000
|
Baltimore, Maryland, Subordinate Lien Convention Center Hotel Revenue Bonds, Series 2006B, 5.875%, 9/01/39
|
9/16 at 100.00
|
Ba2
|
944,870
|
|||||||
2,000
|
Maryland Economic Development Corporation, Revenue Bonds, Chesapeake Bay Hyatt Conference Center, Series 2006A, 5.000%, 12/01/31
|
12/16 at 100.00
|
N/R
|
1,139,980
|
|||||||
17,170
|
Total Consumer Discretionary
|
14,873,387
|
|||||||||
Consumer Staples – 7.0% (4.7% of Total Investments)
|
|||||||||||
Guam Economic Development & Commerce Authority, Tobacco Settlement Asset-Backed Bonds, Series 2007A:
|
|||||||||||
3,045
|
5.250%, 6/01/32
|
6/17 at 100.00
|
B
|
2,587,793
|
|||||||
2,665
|
5.625%, 6/01/47
|
6/17 at 100.00
|
B
|
2,020,630
|
|||||||
155,700
|
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Bonds, Series 2005A, 0.000%, 5/15/50
|
5/15 at 11.19
|
BB–
|
9,138,033
|
|||||||
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, Series 2002:
|
|||||||||||
6,645
|
5.375%, 5/15/33
|
2/14 at 100.00
|
BBB+
|
6,199,121
|
|||||||
3,270
|
5.500%, 5/15/39
|
2/14 at 100.00
|
BBB
|
2,854,906
|
|||||||
800
|
Tobacco Settlement Financing Corporation, Virgin Islands, Tobacco Settlement Asset-Backed Bonds, Series 2001, 5.000%, 5/15/31
|
5/14 at 100.00
|
A3
|
750,328
|
|||||||
172,125
|
Total Consumer Staples
|
23,550,811
|
|||||||||
Education and Civic Organizations – 15.2% (10.1% of Total Investments)
|
|||||||||||
2,375
|
Frederick County, Maryland, Educational Facilities Revenue Bonds, Mount Saint Mary’s University, Series 2006, 5.625%, 9/01/38
|
9/16 at 100.00
|
BB+
|
2,142,179
|
|||||||
3,020
|
Hartford County, Maryland, Economic Development Revenue Bonds, Battelle Memorial Institute, Series 2004, 5.250%, 4/01/34
|
4/14 at 100.00
|
A+
|
3,050,442
|
|||||||
1,750
|
Maryland Health and Higher Educational Facilities Authority, Educational Facilities Leasehold Mortgage Revenue Bonds, McLean School, Series 2001, 6.000%, 7/01/31
|
2/14 at 100.00
|
BB+
|
1,689,135
|
|||||||
700
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Goucher College, Series 2012A, 5.000%, 7/01/34
|
7/22 at 100.00
|
A–
|
720,153
|
|||||||
530
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Johns Hopkins University, Series 2008A, 5.250%, 7/01/38
|
No Opt. Call
|
AA+
|
568,059
|
|||||||
3,335
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Johns Hopkins University, Series 2004A, Trust 1003, 14.141%, 3/01/14 (IF)
|
No Opt. Call
|
AA+
|
3,621,276
|
|||||||
3,500
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Maryland Institute College of Art, Series 2006, 5.000%, 6/01/30
|
6/16 at 100.00
|
Baa1
|
3,517,955
|
|||||||
1,130
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Maryland Institute College of Art, Series 2007, 5.000%, 6/01/36
|
6/17 at 100.00
|
Baa1
|
1,107,558
|
Nuveen Investments
|
25
|
NMY
|
Nuveen Maryland Premium Income Municipal Fund (continued)
|
Portfolio of Investments November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Education and Civic Organizations (continued)
|
|||||||||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Maryland Institute College of Art, Series 2012:
|
|||||||||||
$
|
1,500
|
5.000%, 6/01/34
|
No Opt. Call
|
Baa1
|
$
|
1,498,080
|
|||||
3,000
|
5.000%, 6/01/47
|
6/22 at 100.00
|
Baa1
|
2,934,570
|
|||||||
745
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Patterson Park Public Charter School Issue, Series 2010, 6.000%, 7/01/40
|
7/20 at 100.00
|
BBB–
|
731,367
|
|||||||
1,145
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, The Johns Hopkins University, Series 2012A, 5.000%, 7/01/30
|
No Opt. Call
|
AA+
|
1,257,164
|
|||||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, The Johns Hopkins University, Series 2013B:
|
|||||||||||
500
|
5.000%, 7/01/38
|
7/23 at 100.00
|
AA+
|
529,265
|
|||||||
4,375
|
4.250%, 7/01/41
|
7/23 at 100.00
|
AA+
|
4,291,175
|
|||||||
2,100
|
Maryland Industrial Development Financing Authority, Revenue Bonds, Our Lady of Good Counsel High School, Series 2005A, 6.000%, 5/01/35
|
5/15 at 100.00
|
N/R
|
2,156,259
|
|||||||
Montgomery County Revenue Authority, Maryland, Lease Revenue Bonds, Montgomery College Arts Center Project, Series 2005A:
|
|||||||||||
1,300
|
5.000%, 5/01/18
|
5/15 at 100.00
|
AA
|
1,374,113
|
|||||||
1,365
|
5.000%, 5/01/19
|
5/15 at 100.00
|
AA
|
1,441,413
|
|||||||
615
|
5.000%, 5/01/20
|
5/15 at 100.00
|
AA
|
648,800
|
|||||||
625
|
Morgan State University, Maryland, Student Tuition and Fee Revenue Bonds, Academic Fees and Auxiliary Facilities, Series 2012, 5.000%, 7/01/29
|
7/22 at 100.00
|
Aa3
|
667,219
|
|||||||
9,445
|
Morgan State University, Maryland, Student Tuition and Fee Revenue Refunding Bonds, Academic Fees and Auxiliary Facilities, Series 1993, 6.100%, 7/01/20 – NPFG Insured
|
No Opt. Call
|
Aa3
|
11,121,582
|
|||||||
300
|
University of Maryland, Auxiliary Facility and Tuition Revenue Bonds, Series 2006A, 5.000%, 10/01/14
|
No Opt. Call
|
AA+
|
312,258
|
|||||||
265
|
University of Puerto Rico, University System Revenue Bonds, Series 2006P, 5.000%, 6/01/23
|
6/16 at 100.00
|
BBB–
|
195,279
|
|||||||
1,145
|
University of Puerto Rico, University System Revenue Bonds, Series 2006Q, 5.000%, 6/01/19
|
6/16 at 100.00
|
BBB–
|
946,045
|
|||||||
Westminster, Maryland, Educational Facilities Revenue Bonds, McDaniel College, Series 2006:
|
|||||||||||
2,000
|
5.000%, 11/01/31
|
11/16 at 100.00
|
BBB+
|
2,005,840
|
|||||||
2,750
|
4.500%, 11/01/36
|
11/16 at 100.00
|
BBB+
|
2,493,838
|
|||||||
49,515
|
Total Education and Civic Organizations
|
51,021,024
|
|||||||||
Health Care – 33.1% (22.0% of Total Investments)
|
|||||||||||
500
|
Fredericksburg Economic Development Authority, Virginia, Hospital Facilities Revenue Bonds, MediCorp Health System, Series 2007, 5.000%, 6/15/14
|
No Opt. Call
|
Baa1
|
508,720
|
|||||||
2,445
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds Doctors Community Hospital, Refunding Series 2010, 5.750%, 7/01/38
|
7/20 at 100.00
|
Baa3
|
2,318,716
|
|||||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Adventist Healthcare, Series 2011A:
|
|||||||||||
1,350
|
6.250%, 1/01/31
|
1/22 at 100.00
|
Baa2
|
1,464,345
|
|||||||
375
|
6.125%, 1/01/36
|
1/22 at 100.00
|
Baa2
|
395,243
|
|||||||
1,355
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Anne Arundel Health System Issue, Series 2012, 5.000%, 7/01/24
|
No Opt. Call
|
A–
|
1,489,321
|
|||||||
1,500
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Anne Arundel Health System, Series 2009A, 6.750%, 7/01/39
|
7/19 at 100.00
|
A–
|
1,747,545
|
|||||||
2,500
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Anne Arundel Health System, Series 2010, 5.000%, 7/01/40
|
7/19 at 100.00
|
A–
|
2,519,875
|
|||||||
2,000
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Calvert Health System Issue, Series 2013, 5.000%, 7/01/38
|
7/23 at 100.00
|
A
|
1,995,700
|
|||||||
2,550
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Carroll Hospital Center, Series 2006, 5.000%, 7/01/40
|
7/16 at 100.00
|
A3
|
2,565,555
|
|||||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Carroll Hospital Center, Series 2012A:
|
|||||||||||
1,000
|
4.000%, 7/01/30
|
7/22 at 100.00
|
A3
|
894,890
|
|||||||
1,775
|
5.000%, 7/01/37
|
7/22 at 100.00
|
A3
|
1,749,529
|
|||||||
4,050
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Doctors Community Hospital, Series 2007A, 5.000%, 7/01/29
|
7/17 at 100.00
|
Baa3
|
3,767,432
|
26
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Health Care (continued)
|
|||||||||||
$
|
4,335
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Frederick Memorial Hospital Issue, Series 2012A, 4.250%, 7/01/32
|
No Opt. Call
|
Baa1
|
$
|
3,907,742
|
|||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Johns Hopkins Health System Obligated Group Issue, Series 2011A:
|
|||||||||||
500
|
5.000%, 5/15/25
|
5/21 at 100.00
|
AA–
|
549,865
|
|||||||
500
|
5.000%, 5/15/26
|
5/21 at 100.00
|
AA–
|
544,165
|
|||||||
4,225
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Kaiser Permanente System, Series 1998A, 5.375%, 7/01/15
|
1/14 at 100.00
|
A+
|
4,241,309
|
|||||||
2,735
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, LifeBridge Health System, Series 2008, 5.000%, 7/01/28 – AGC Insured
|
7/17 at 100.00
|
AA–
|
2,790,192
|
|||||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, LifeBridge Health System, Series 2011:
|
|||||||||||
500
|
5.750%, 7/01/31
|
No Opt. Call
|
A
|
534,315
|
|||||||
1,000
|
6.000%, 7/01/41
|
7/21 at 100.00
|
A
|
1,077,170
|
|||||||
1,250
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Loyola University Maryland, Series 2012A, 5.000%, 10/01/39
|
10/22 at 100.00
|
A
|
1,274,075
|
|||||||
4,060
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, MedStar Health, Series 2004, 5.375%, 8/15/24
|
8/14 at 100.00
|
A2
|
4,204,049
|
|||||||
7,720
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, MedStar Health, Series 2007, 5.250%, 5/15/46 – BHAC Insured
|
5/16 at 100.00
|
AA+
|
8,092,876
|
|||||||
2,850
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Medical Center, Series 2011, 5.000%, 7/01/31
|
7/22 at 100.00
|
BBB
|
2,815,401
|
|||||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Medical Center Project, Series 2007A:
|
|||||||||||
2,375
|
5.000%, 7/01/37
|
7/17 at 100.00
|
BBB
|
2,211,600
|
|||||||
2,905
|
5.500%, 7/01/42
|
7/17 at 100.00
|
BBB
|
2,861,628
|
|||||||
3,950
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Peninsula Regional Medical Center, Series 2006, 5.000%, 7/01/36
|
7/16 at 100.00
|
A
|
3,953,160
|
|||||||
4,450
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, The Johns Hopkins Health System Obligated Group Issue, Series 2010, 5.000%, 5/15/40
|
5/20 at 100.00
|
AA–
|
4,486,535
|
|||||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Union Hospital of Cecil County, Series 2005:
|
|||||||||||
1,000
|
5.000%, 7/01/35
|
7/15 at 100.00
|
A
|
994,080
|
|||||||
1,500
|
5.000%, 7/01/40
|
7/15 at 100.00
|
A
|
1,462,245
|
|||||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of Maryland Medical System Issue, Series 2013A:
|
|||||||||||
11,500
|
5.000%, 7/01/43
|
7/22 at 100.00
|
A2
|
11,213,305
|
|||||||
3,750
|
4.000%, 7/01/43
|
7/22 at 100.00
|
A2
|
3,013,800
|
|||||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of Maryland Medical System, Series 2006:
|
|||||||||||
700
|
5.000%, 7/01/31
|
7/16 at 100.00
|
A2
|
704,438
|
|||||||
1,325
|
5.000%, 7/01/36
|
7/16 at 100.00
|
A2
|
1,320,495
|
|||||||
4,155
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of Maryland Medical System, Series 2010, 5.125%, 7/01/39
|
7/19 at 100.00
|
A2
|
4,148,934
|
|||||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Washington County Hospital, Series 2008:
|
|||||||||||
135
|
5.750%, 1/01/33
|
1/18 at 100.00
|
BBB
|
135,699
|
|||||||
7,075
|
5.750%, 1/01/38
|
1/18 at 100.00
|
BBB
|
7,080,943
|
|||||||
1,950
|
6.000%, 1/01/43
|
1/18 at 100.00
|
BBB
|
1,961,427
|
|||||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Western Maryland Health, Series 2006A:
|
|||||||||||
2,910
|
4.500%, 1/01/22 – NPFG Insured
|
7/16 at 100.00
|
A
|
3,073,629
|
|||||||
2,995
|
5.000%, 7/01/34 – NPFG Insured
|
7/16 at 100.00
|
A
|
2,997,755
|
|||||||
8,000
|
Montgomery County, Maryland, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2011MD, 5.000%, 12/01/40
|
12/21 at 100.00
|
Aa2
|
8,078,800
|
|||||||
111,750
|
Total Health Care
|
111,146,503
|
Nuveen Investments
|
27
|
NMY
|
Nuveen Maryland Premium Income Municipal Fund (continued)
|
Portfolio of Investments November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Housing/Multifamily – 6.1% (4.1% of Total Investments)
|
|||||||||||
$
|
2,045
|
Anne Arundel County, Maryland, FNMA Multifamily Housing Revenue Bonds, Glenview Gardens Apartments Project, Series 2009, 5.000%, 1/01/28 (Mandatory put 1/01/27)
|
1/20 at 102.00
|
AA+
|
$
|
2,151,851
|
|||||
Howard County Housing Commission, Maryland, Revenue Bonds, The Verona at Oakland Mills Project, Series 2013:
|
|||||||||||
3,000
|
5.000%, 10/01/28
|
10/23 at 100.00
|
A+
|
3,021,240
|
|||||||
2,000
|
4.625%, 10/01/28
|
10/23 at 100.00
|
A+
|
1,938,760
|
|||||||
2,110
|
Maryland Community Development Administration, Multifamily Housing Revenue Bonds, Princess Anne Apartments, Series 2001D, 5.450%, 12/15/33 (Alternative Minimum Tax)
|
12/13 at 100.00
|
Aaa
|
2,110,865
|
|||||||
Maryland Economic Development Corporation, Senior Lien Student Housing Revenue Bonds, University of Maryland – Baltimore, Series 2003A:
|
|||||||||||
30
|
5.000%, 10/01/15
|
2/14 at 100.00
|
B3
|
29,915
|
|||||||
3,460
|
5.625%, 10/01/23
|
2/14 at 100.00
|
B3
|
3,211,364
|
|||||||
Maryland Economic Development Corporation, Student Housing Revenue Bonds, Salisbury University Project, Refunding Series 2013:
|
|||||||||||
500
|
5.000%, 6/01/27
|
6/23 at 100.00
|
Baa3
|
500,000
|
|||||||
500
|
5.000%, 6/01/34
|
6/23 at 100.00
|
Baa3
|
478,365
|
|||||||
1,500
|
Maryland Economic Development Corporation, Student Housing Revenue Bonds, Sheppard Pratt University Village, Series 2012, 5.000%, 7/01/33
|
No Opt. Call
|
BBB–
|
1,464,240
|
|||||||
5,115
|
Maryland Economic Development Corporation, Student Housing Revenue Refunding Bonds,University of Maryland College Park Projects, Series 2006, 5.000%, 6/01/33 – CIFG Insured
|
6/16 at 100.00
|
AA–
|
5,147,276
|
|||||||
165
|
Montgomery County Housing Opportunities Commission, Maryland, GNMA/FHA-Insured Multifamily Housing Revenue Bonds, Series 1995A, 5.900%, 7/01/15
|
1/14 at 100.00
|
Aa2
|
165,653
|
|||||||
405
|
Montgomery County Housing Opportunities Commission, Maryland, Multifamily Housing Development Bonds, Series 2000B, 6.200%, 7/01/30 (Alternative Minimum Tax)
|
1/14 at 100.00
|
Aaa
|
405,462
|
|||||||
20,830
|
Total Housing/Multifamily
|
20,624,991
|
|||||||||
Housing/Single Family – 9.3% (6.2% of Total Investments)
|
|||||||||||
520
|
Maryland Community Development Administration Department of Housing and Community Development, Residential Revenue Bonds, Series 2008C, 5.375%, 9/01/39
|
9/18 at 100.00
|
Aa2
|
531,872
|
|||||||
3,000
|
Maryland Community Development Administration Department of Housing and Community Development, Residential Revenue Bonds, Series 2009B, 4.750%, 9/01/39
|
9/18 at 100.00
|
Aa2
|
2,986,530
|
|||||||
2,055
|
Maryland Community Development Administration Department of Housing and Community Development, Residential Revenue Bonds, Series 2010B, 5.250%, 9/01/35
|
3/20 at 100.00
|
Aa2
|
2,090,983
|
|||||||
5,425
|
Maryland Community Development Administration, Department of Housing and Community Development, Residential Revenue Bonds, Series 2005E, 4.900%, 9/01/36 (Alternative Minimum Tax) (UB), (5)
|
9/14 at 100.00
|
Aa2
|
5,378,019
|
|||||||
1,800
|
Maryland Community Development Administration, Department of Housing and Community Development, Residential Revenue Bonds, Series 2006B, 4.750%, 9/01/25 (Alternative Minimum Tax) (UB), (5)
|
9/15 at 100.00
|
Aa2
|
1,817,334
|
|||||||
2,345
|
Maryland Community Development Administration, Department of Housing and Community Development, Residential Revenue Bonds, Series 2006F, 4.900%, 9/01/26 (Alternative Minimum Tax) (UB), (5)
|
9/15 at 100.00
|
Aa2
|
2,366,741
|
|||||||
4,075
|
Maryland Community Development Administration, Department of Housing and Community Development, Residential Revenue Bonds, Series 2006L, 4.900%, 9/01/31 (Alternative Minimum Tax) (UB), (5)
|
9/16 at 100.00
|
Aa2
|
4,096,230
|
|||||||
7,500
|
Maryland Community Development Administration, Department of Housing and Community Development, Residential Revenue Bonds, Series 2006I, 4.875%, 9/01/26 (Alternative Minimum Tax) (UB), (5)
|
3/16 at 100.00
|
Aa2
|
7,586,476
|
|||||||
2,820
|
Maryland Community Development Administration, Department of Housing and Community Development, Residential Revenue Bonds, Series 2007D, 4.850%, 9/01/37 (Alternative Minimum Tax) (UB), (5)
|
3/17 at 100.00
|
Aa2
|
2,727,110
|
|||||||
1,500
|
Maryland Community Development Administration, Department of Housing and Community Development, Residential Revenue Bonds, Series 2007H, 5.000%, 9/01/27 (Alternative Minimum Tax) (UB), (5)
|
3/17 at 100.00
|
Aa2
|
1,524,346
|
|||||||
31,040
|
Total Housing/Single Family
|
31,105,641
|
28
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Industrials – 2.8% (1.9% of Total Investments)
|
|||||||||||
$
|
5,895
|
Maryland Economic Development Corporation, Economic Development Revenue Bonds, Transportation Facilities Project, Series 2010A, 5.750%, 6/01/35
|
6/20 at 100.00
|
Baa3
|
$
|
5,962,793
|
|||||
3,340
|
Maryland Economic Development Corporation, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2002, 4.600%, 4/01/16 (Alternative Minimum Tax)
|
No Opt. Call
|
BBB
|
3,491,302
|
|||||||
9,235
|
Total Industrials
|
9,454,095
|
|||||||||
Long-Term Care – 6.2% (4.1% of Total Investments)
|
|||||||||||
5,215
|
Baltimore County, Maryland, Revenue Bonds, Oak Crest Village, Series 2007A, 5.000%, 1/01/37
|
1/17 at 100.00
|
A–
|
5,140,999
|
|||||||
2,050
|
Gaithersburg, Maryland, Economic Development Revenue Bonds, Asbury Methodist Homes Inc., Series 2009B, 6.000%, 1/01/23
|
1/20 at 100.00
|
BBB
|
2,200,245
|
|||||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Charlestown Community Issue, Series 2010:
|
|||||||||||
1,685
|
6.125%, 1/01/30
|
1/21 at 100.00
|
A
|
1,781,955
|
|||||||
5,000
|
6.250%, 1/01/45
|
1/21 at 100.00
|
A
|
5,251,800
|
|||||||
1,000
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Edenwald, Series 2006A, 5.400%, 1/01/31
|
7/16 at 100.00
|
N/R
|
965,340
|
|||||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, King Farm Presbyterian Community, Series 2007A:
|
|||||||||||
780
|
5.000%, 1/01/17
|
No Opt. Call
|
N/R
|
799,461
|
|||||||
1,460
|
5.250%, 1/01/27
|
1/17 at 100.00
|
N/R
|
1,410,331
|
|||||||
1,050
|
5.300%, 1/01/37
|
1/17 at 100.00
|
N/R
|
947,583
|
|||||||
2,480
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Ridge Retirement Community, Series 2007, 4.750%, 7/01/34
|
7/17 at 100.00
|
A–
|
2,393,026
|
|||||||
20,720
|
Total Long-Term Care
|
20,890,740
|
|||||||||
Tax Obligation/General – 9.0% (6.0% of Total Investments)
|
|||||||||||
1,565
|
Anne Arundel County, Maryland, General Obligation Bonds, Series 2006, 5.000%, 3/01/21
|
3/16 at 100.00
|
AAA
|
1,713,644
|
|||||||
685
|
Anne Arundel County, Maryland, Water and Sewer Revenue Bonds, Series 2006, 5.000%, 3/01/17
|
3/16 at 100.00
|
AAA
|
754,123
|
|||||||
350
|
Baltimore County, Maryland, General Obligation Bonds, Consolidated Public Improvement Series 2009, 5.000%, 8/01/14
|
No Opt. Call
|
AAA
|
361,452
|
|||||||
Baltimore, Maryland, General Obligation Bonds, Consolidated Public Improvements, Series 2011A:
|
|||||||||||
1,000
|
5.000%, 10/15/29
|
10/21 at 100.00
|
Aa2
|
1,095,250
|
|||||||
1,200
|
5.000%, 10/15/30
|
10/21 at 100.00
|
Aa2
|
1,304,856
|
|||||||
Charles County, Maryland, Consolidated General Obligation Public Improvement Bonds, Series 2006:
|
|||||||||||
2,145
|
5.000%, 3/01/14
|
No Opt. Call
|
AA+
|
2,171,941
|
|||||||
805
|
5.000%, 3/01/16
|
No Opt. Call
|
AA+
|
889,155
|
|||||||
1,500
|
Frederick County, Maryland, General Obligation Public Facilities Bonds, Series 2005, 5.000%, 8/01/14
|
No Opt. Call
|
AAA
|
1,548,870
|
|||||||
1,820
|
Harford County, Maryland, General Obligation Bonds, Consolidated Public Improvement Series 2013A, 3.000%, 2/01/14
|
No Opt. Call
|
Aaa
|
1,829,082
|
|||||||
2,305
|
Maryland National Capital Park Planning Commission, Prince George’s County, General Obligation Bonds, Park Acquisition and Development, Series 2004EE-2, 5.000%, 1/15/17
|
1/14 at 100.00
|
AAA
|
2,318,945
|
|||||||
95
|
Maryland, General Obligation Bonds, State and Local Facilities Loan, Second Series 2009B, 5.250%, 8/15/14
|
No Opt. Call
|
AAA
|
98,456
|
|||||||
1,000
|
Maryland, General Obligation Bonds, State and Local Facilities Loan, Second Series 2010B, 5.000%, 8/01/14
|
No Opt. Call
|
AAA
|
1,032,720
|
|||||||
5,850
|
Montgomery County, Maryland, Consolidated General Obligation Public Improvement Bonds, Series 2005A, 5.000%, 7/01/15
|
No Opt. Call
|
AAA
|
6,292,787
|
|||||||
2,800
|
Montgomery County, Maryland, Consolidated General Obligation Public Improvement Bonds, Series 2006A, 5.000%, 5/01/16
|
No Opt. Call
|
AAA
|
3,111,360
|
Nuveen Investments
|
29
|
NMY
|
Nuveen Maryland Premium Income Municipal Fund (continued)
|
Portfolio of Investments November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Tax Obligation/General (continued)
|
|||||||||||
$
|
1,315
|
Prince George’s County, Maryland, General Obligation Consolidated Public Improvement Bonds, Series 2004F, 5.000%, 12/01/15
|
No Opt. Call
|
AAA
|
$
|
1,378,883
|
|||||
2,270
|
Puerto Rico, General Obligation and Public Improvement Bonds, Series 2002A, 5.500%, 7/01/20 – NPFG Insured
|
No Opt. Call
|
A
|
2,155,569
|
|||||||
2,155
|
Puerto Rico, General Obligation Bonds, Public Improvement Refunding Series 2007A, 5.500%, 7/01/20 – NPFG Insured
|
No Opt. Call
|
A
|
2,046,366
|
|||||||
28,860
|
Total Tax Obligation/General
|
30,103,459
|
|||||||||
Tax Obligation/Limited – 21.9% (14.5% of Total Investments)
|
|||||||||||
1,200
|
Anne Arundel County, Maryland, Consolidated Special Taxing District Revenue Bonds, Villages of Dorchester & Farmington Village Projects, Series 2013, 5.000%, 7/01/32
|
7/23 at 100.00
|
A+
|
1,249,116
|
|||||||
865
|
Anne Arundel County, Maryland, Special Obligation Bonds, National Business
Park – North Project, Series 2010, 6.100%, 7/01/40 |
7/18 at 102.00
|
N/R
|
890,915
|
|||||||
385
|
Baltimore County, Maryland, Certificates of Participation, Equipment Acquisition Program, Series 2012, 4.000%, 10/01/14
|
No Opt. Call
|
AA+
|
396,974
|
|||||||
120
|
Baltimore, Maryland, Revenue Refunding Bonds, Convention Center, Series 1998, 5.000%, 9/01/19 – NPFG Insured
|
3/14 at 100.00
|
A
|
120,406
|
|||||||
300
|
Baltimore, Maryland, Special Obligation Bonds, North Locust Point Project, Series 2005, 5.500%, 9/01/34
|
9/15 at 101.00
|
N/R
|
293,796
|
|||||||
Frederick County, Maryland, Lake Linganore Village Community Development Special Obligation Bonds, Series 2001A:
|
|||||||||||
110
|
5.600%, 7/01/20 – RAAI Insured
|
7/14 at 100.00
|
N/R
|
110,139
|
|||||||
450
|
5.700%, 7/01/29 – RAAI Insured
|
7/14 at 100.00
|
N/R
|
446,310
|
|||||||
Fredrick County, Maryland, Special Obligation Bonds, Urbana Community Development Authority, Series 2010A:
|
|||||||||||
5,350
|
5.000%, 7/01/30
|
7/20 at 100.00
|
A–
|
5,482,466
|
|||||||
2,355
|
5.000%, 7/01/40
|
7/20 at 100.00
|
A–
|
2,351,444
|
|||||||
1,000
|
Government of Guam, Business Privilege Tax Bonds, Series 2011A, 5.250%, 1/01/36
|
1/22 at 100.00
|
A
|
1,007,810
|
|||||||
2,050
|
Hyattsville, Maryland, Special Obligation Bonds, University Town Center Project, Series 2004, 5.750%, 7/01/34
|
7/14 at 102.00
|
N/R
|
1,996,823
|
|||||||
11,750
|
Maryland Department of Transportation, Consolidated Transportation Revenue Bonds, Series 2002, 5.500%, 2/01/16
|
No Opt. Call
|
AAA
|
13,060,004
|
|||||||
2,380
|
Maryland Department of Transportation, Consolidated Transportation Revenue Bonds, Series 2004, 5.000%, 11/01/14
|
No Opt. Call
|
AAA
|
2,486,600
|
|||||||
1,000
|
Maryland Department of Transportation, Consolidated Transportation Revenue Bonds, Series 2006, 5.000%, 2/15/14
|
No Opt. Call
|
AAA
|
1,010,330
|
|||||||
920
|
Maryland Stadium Authority, Lease Revenue Bonds, Montgomery County Conference Center, Series 2012, 4.000%, 6/15/14
|
No Opt. Call
|
AA+
|
939,154
|
|||||||
1,675
|
Montgomery County, Maryland, Special Obligation Bonds, West Germantown Development District, Senior Series 2002A, 5.500%, 7/01/27 – RAAI Insured
|
7/14 at 100.00
|
A+
|
1,677,077
|
|||||||
3,000
|
Prince George’s County, Maryland, Certificates of Participation, Equipment Acquisition Program, Series 2012, 3.000%, 10/15/14
|
No Opt. Call
|
AA+
|
3,074,490
|
|||||||
740
|
Prince George’s County, Maryland, Lease Revenue Bonds, Upper Marlboro Justice Center, Series 2003A, 5.000%, 6/30/14 – NPFG Insured
|
2/14 at 100.00
|
AA+
|
742,997
|
|||||||
6,650
|
Prince George’s County, Maryland, Special Obligation Bonds, National Harbor Project, Series 2005, 5.200%, 7/01/34
|
7/15 at 100.00
|
N/R
|
6,518,796
|
|||||||
1,411
|
Prince George’s County, Maryland, Special Tax District Bonds, Victoria Falls Project, Series 2005, 5.250%, 7/01/35
|
7/14 at 100.00
|
N/R
|
1,316,054
|
|||||||
1,100
|
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N, 5.500%, 7/01/29 – AMBAC Insured
|
No Opt. Call
|
Baa3
|
900,548
|
|||||||
1,000
|
Puerto Rico Highway and Transportation Authority, Subordinate Lien Highway Revenue Bonds, Series 2003, 5.250%, 7/01/15 – FGIC Insured
|
2/14 at 100.00
|
BBB–
|
971,530
|
30
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Tax Obligation/Limited (continued)
|
|||||||||||
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A:
|
|||||||||||
$
|
2,000
|
0.000%, 7/01/33 – FGIC Insured
|
No Opt. Call
|
BBB+
|
$
|
270,420
|
|||||
1,530
|
0.000%, 7/01/44 – AMBAC Insured
|
No Opt. Call
|
BBB+
|
133,676
|
|||||||
2,100
|
Puerto Rico Municipal Finance Agency, Series 2002A, 5.250%, 8/01/21 – AGM Insured
|
2/14 at 100.00
|
AA–
|
2,053,863
|
|||||||
525
|
Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Bonds, Series 2004I, 5.250%, 7/01/33
|
7/14 at 100.00
|
BBB–
|
373,627
|
|||||||
970
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 0.000%, 8/01/32
|
8/26 at 100.00
|
A+
|
719,274
|
|||||||
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010A:
|
|||||||||||
1,425
|
5.375%, 8/01/39
|
2/20 at 100.00
|
A+
|
1,078,169
|
|||||||
200
|
5.500%, 8/01/42
|
2/20 at 100.00
|
A+
|
152,158
|
|||||||
4,310
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010C, 5.250%, 8/01/41
|
8/20 at 100.00
|
A+
|
3,165,436
|
|||||||
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A:
|
|||||||||||
7,000
|
0.000%, 8/01/40 – NPFG Insured
|
No Opt. Call
|
AA–
|
1,161,230
|
|||||||
8,000
|
0.000%, 8/01/41 – NPFG Insured
|
No Opt. Call
|
AA–
|
1,240,640
|
|||||||
210
|
0.000%, 8/01/47 – AMBAC Insured
|
No Opt. Call
|
AA–
|
21,529
|
|||||||
12,140
|
0.000%, 8/01/56
|
No Opt. Call
|
AA–
|
649,733
|
|||||||
520
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA, 5.500%, 7/01/19 – NPFG Insured
|
No Opt. Call
|
A
|
497,068
|
|||||||
820
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2005BB, 5.250%, 7/01/22 – AGM Insured
|
No Opt. Call
|
AA–
|
796,253
|
|||||||
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2007CC:
|
|||||||||||
765
|
5.500%, 7/01/28 – NPFG Insured
|
No Opt. Call
|
A
|
683,596
|
|||||||
2,300
|
5.500%, 7/01/30 – AGM Insured
|
No Opt. Call
|
AA–
|
2,127,753
|
|||||||
1,750
|
Rhode Island Convention Center Authority, Lease Revenue Bonds, Series 2005A, 5.000%, 5/15/21 – AGM Insured
|
5/15 at 100.00
|
AA–
|
1,848,648
|
|||||||
2,000
|
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Series 2003, 5.000%, 10/01/26 – RAAI Insured
|
10/14 at 100.00
|
BBB+
|
2,015,320
|
|||||||
2,000
|
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Series 2006, 5.000%, 10/01/27 – FGIC Insured
|
10/16 at 100.00
|
A
|
2,021,340
|
|||||||
3,500
|
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Senior Lien Series 2010A, 5.000%, 10/01/29
|
10/20 at 100.00
|
BBB
|
3,492,195
|
|||||||
1,825
|
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Subordinate Lien Series 2010B, 5.250%, 10/01/29
|
10/20 at 100.00
|
Baa2
|
1,839,454
|
|||||||
101,701
|
Total Tax Obligation/Limited
|
73,385,161
|
|||||||||
Transportation – 6.4% (4.3% of Total Investments)
|
|||||||||||
Baltimore, Maryland, Revenue Refunding Bonds, Parking System Facilities, Series 1998A:
|
|||||||||||
1,060
|
5.250%, 7/01/17 – FGIC Insured
|
No Opt. Call
|
A1
|
1,156,926
|
|||||||
110
|
5.250%, 7/01/21 – FGIC Insured
|
No Opt. Call
|
A1
|
123,578
|
|||||||
125
|
Guam International Airport Authority, Revenue Bonds, Series 2013C, 6.375%, 10/01/43 (Alternative Minimum Tax)
|
10/23 at 100.00
|
BBB
|
129,466
|
|||||||
Maryland Health and Higher Educational Facilities Authority, Parking Facilities Revenue Bonds, Johns Hopkins Hospital, Series 2001:
|
|||||||||||
1,300
|
5.000%, 7/01/27 – AMBAC Insured
|
1/14 at 100.00
|
N/R
|
1,300,481
|
|||||||
1,000
|
5.000%, 7/01/34 – AMBAC Insured
|
1/14 at 100.00
|
N/R
|
978,570
|
|||||||
750
|
Maryland Health and Higher Educational Facilities Authority, Parking Facilities Revenue Bonds, Johns Hopkins Medical Institution, Series 2004B, 5.000%, 7/01/15 – AMBAC Insured
|
1/15 at 100.00
|
N/R
|
781,110
|
|||||||
460
|
Maryland Health and Higher Educational Facilities Authority, Parking Revenue Bonds, Johns Hopkins Medical Institutions Parking Facilities, Series 1996, 5.500%, 7/01/26 – AMBAC Insured
|
2/14 at 100.00
|
A
|
460,492
|
Nuveen Investments
|
31
|
NMY
|
Nuveen Maryland Premium Income Municipal Fund (continued)
|
Portfolio of Investments November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Transportation (continued)
|
|||||||||||
Maryland Transportation Authority, Revenue Bonds, Grant Anticipation Series 2008:
|
|||||||||||
$
|
1,000
|
5.250%, 3/01/15
|
No Opt. Call
|
AAA
|
$
|
1,062,710
|
|||||
2,000
|
5.250%, 3/01/16
|
No Opt. Call
|
AAA
|
2,215,840
|
|||||||
10,110
|
Maryland Transportation Authority, Revenue Bonds, Transportation Facilities Projects, Series 2007, 5.000%, 7/01/30 – AGM Insured (UB)
|
7/17 at 100.00
|
AA–
|
10,796,470
|
|||||||
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC, Sixth Series 1997:
|
|||||||||||
20
|
5.750%, 12/01/22 – NPFG Insured (Alternative Minimum Tax)
|
6/14 at 100.00
|
A
|
20,199
|
|||||||
70
|
5.750%, 12/01/25 – NPFG Insured (Alternative Minimum Tax)
|
6/14 at 100.00
|
A
|
70,345
|
|||||||
2,075
|
Puerto Rico Ports Authority, Special Facilities Revenue Bonds, American Airlines Inc., Series 1996A, 6.250%, 6/01/26 (Alternative Minimum Tax) (6)
|
6/14 at 100.00
|
N/R
|
2,396,625
|
|||||||
20,080
|
Total Transportation
|
21,492,812
|
|||||||||
U.S. Guaranteed – 20.6% (13.7% of Total Investments) (4)
|
|||||||||||
2,030
|
Anne Arundel County, Maryland, General Obligation Bonds, Series 2004, 5.000%, 4/01/16 (Pre-refunded 4/01/14)
|
4/14 at 100.00
|
AAA
|
2,063,515
|
|||||||
500
|
Baltimore County, Maryland, Revenue Bonds, Catholic Health Initiatives, Series 2006A, 5.000%, 9/01/36 (Pre-refunded 9/01/16)
|
9/16 at 100.00
|
A+ (4)
|
560,925
|
|||||||
1,540
|
Baltimore, Maryland, General Obligation Consolidated Public Improvement Bonds, Series 2004A, 5.000%, 10/15/22 (Pre-refunded 10/15/14) – AMBAC Insured
|
10/14 at 100.00
|
Aa2 (4)
|
1,605,373
|
|||||||
2,690
|
Baltimore, Maryland, Revenue Refunding Bonds, Wastewater Projects, Series 2002A, 5.125%, 7/01/42 (Pre-refunded 1/02/14) – NPFG Insured
|
1/14 at 100.00
|
AA (4)
|
2,697,586
|
|||||||
3,120
|
Baltimore, Maryland, Revenue Refunding Bonds, Water Projects, Series 1998A, 5.000%, 7/01/28 – FGIC Insured (ETM)
|
No Opt. Call
|
AA (4)
|
3,610,714
|
|||||||
2,000
|
Baltimore, Maryland, Revenue Refunding Bonds, Water System Projects, Series 1994A, 5.000%, 7/01/24 – FGIC Insured (ETM)
|
No Opt. Call
|
AA (4)
|
2,361,540
|
|||||||
1,500
|
Baltimore, Maryland, Wastewater Project Revenue Bonds, Series 2006C, 5.000%, 7/01/31 (Pre-refunded 7/01/16) – AMBAC Insured
|
7/16 at 100.00
|
AA (4)
|
1,677,330
|
|||||||
1,680
|
Carroll County, Maryland, Consolidated Public Improvement Bonds, Series 2005A, 5.000%, 12/01/16 (Pre-refunded 12/01/15)
|
12/15 at 100.00
|
AAA
|
1,837,886
|
|||||||
Charles County, Maryland, Consolidated General Obligation Public Improvement Bonds, Series 2006:
|
|||||||||||
40
|
5.000%, 3/01/14 (ETM)
|
No Opt. Call
|
Aa1 (4)
|
40,498
|
|||||||
15
|
5.000%, 3/01/16 (ETM)
|
No Opt. Call
|
Aa1 (4)
|
16,553
|
|||||||
1,910
|
Frederick, Maryland, General Obligation Bonds, Series 2005, 5.000%, 8/01/16 (Pre-refunded 8/01/15) – NPFG Insured
|
8/15 at 100.00
|
AA (4)
|
2,060,164
|
|||||||
Howard County, Maryland, General Obligation Consolidated Public Improvement Bonds, Series 2004B:
|
|||||||||||
1,000
|
5.000%, 8/15/16 (Pre-refunded 2/15/14)
|
2/14 at 100.00
|
AAA
|
1,010,300
|
|||||||
1,625
|
5.000%, 8/15/17 (Pre-refunded 2/15/14)
|
2/14 at 100.00
|
AAA
|
1,641,738
|
|||||||
1,180
|
5.000%, 8/15/19 (Pre-refunded 2/15/14)
|
2/14 at 100.00
|
AAA
|
1,192,154
|
|||||||
750
|
Maryland Department of Transportation, Consolidated Transportation Revenue Bonds, Series 2004, 5.000%, 5/01/15 (Pre-refunded 5/01/14)
|
5/14 at 100.00
|
AAA
|
765,383
|
|||||||
2,350
|
Maryland, General Obligation Bonds, State and Local Facilities Loan, First Series 2004, 5.000%, 8/01/15 (Pre-refunded 8/01/14)
|
8/14 at 100.00
|
AAA
|
2,426,681
|
|||||||
3,075
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Calvert Memorial Hospital, Series 2004, 5.500%, 7/01/36 (Pre-refunded 7/01/14)
|
7/14 at 100.00
|
A (4)
|
3,171,524
|
|||||||
4,865
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Civista Medical Center, Series 2005, 5.000%, 7/01/37 (Pre-refunded 7/01/14) – RAAI Insured
|
7/14 at 100.00
|
N/R (4)
|
5,002,777
|
|||||||
2,875
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Goucher College, Series 2004, 5.125%, 7/01/34 (Pre-refunded 7/01/14)
|
7/14 at 100.00
|
A– (4)
|
2,959,410
|
|||||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Helix Health, Series 1997:
|
|||||||||||
1,265
|
5.000%, 7/01/17 – AMBAC Insured (ETM)
|
No Opt. Call
|
N/R (4)
|
1,378,243
|
|||||||
3,240
|
5.000%, 7/01/27 – AMBAC Insured (ETM)
|
No Opt. Call
|
N/R (4)
|
3,771,068
|
|||||||
3,125
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Howard County General Hospital, Series 1993, 5.500%, 7/01/25 (ETM)
|
1/14 at 100.00
|
N/R (4)
|
3,248,438
|
32
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
U.S. Guaranteed (4) (continued)
|
|||||||||||
$
|
1,000
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Johns Hopkins University, Series 2004A, 4.625%, 7/01/20 (Pre-refunded 7/01/14)
|
7/14 at 100.00
|
AA+ (4)
|
$
|
1,026,360
|
|||||
3,875
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, LifeBridge Health System, Series 2004A, 5.125%, 7/01/34 (Pre-refunded 7/01/14)
|
7/14 at 100.00
|
N/R (4)
|
3,987,608
|
|||||||
885
|
Maryland National Capital Park Planning Commission, Prince George’s County, General Obligation Bonds, Park Acquisition and Development, Series 2004EE-2, 5.000%, 1/15/17 (Pre-refunded 1/15/14)
|
1/14 at 100.00
|
Aaa
|
890,487
|
|||||||
1,200
|
Maryland Transportation Authority, Revenue Refunding Bonds, Transportation Facilities Projects, First Series 1978, 6.800%, 7/01/16 – AMBAC Insured (ETM)
|
No Opt. Call
|
Aaa
|
1,319,436
|
|||||||
1,100
|
Puerto Rico Public Finance Corporation, Commonwealth Appropriation Bonds, Series 1998A, 5.125%, 6/01/24 – AMBAC Insured (ETM)
|
No Opt. Call
|
Aaa
|
1,268,663
|
|||||||
1,000
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 1996Y, 5.500%, 7/01/36 (Pre-refunded 7/01/16)
|
7/16 at 100.00
|
Aaa
|
1,131,080
|
|||||||
1,610
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA, 5.500%, 7/01/19 – NPFG Insured (ETM)
|
No Opt. Call
|
Baa1 (4)
|
1,960,320
|
|||||||
3,135
|
University of Maryland, Auxiliary Facility and Tuition Revenue Bonds, Series 2006A, 5.000%, 10/01/22 (Pre-refunded 10/01/16)
|
10/16 at 100.00
|
AA+ (4)
|
3,530,229
|
|||||||
Washington Suburban Sanitary District, Montgomery and Prince George’s Counties, Maryland, Sewerage Disposal Bonds, Series 2005:
|
|||||||||||
4,500
|
5.000%, 6/01/16 (Pre-refunded 6/01/15)
|
6/15 at 100.00
|
AAA
|
4,821,480
|
|||||||
1,235
|
5.000%, 6/01/23 (Pre-refunded 6/01/15)
|
6/15 at 100.00
|
AAA
|
1,323,228
|
|||||||
1,235
|
5.000%, 6/01/24 (Pre-refunded 6/01/15)
|
6/15 at 100.00
|
AAA
|
1,323,228
|
|||||||
1,235
|
5.000%, 6/01/25 (Pre-refunded 6/01/15)
|
6/15 at 100.00
|
AAA
|
1,323,228
|
|||||||
64,385
|
Total U.S. Guaranteed
|
69,005,147
|
|||||||||
Utilities – 3.6% (2.4% of Total Investments)
|
|||||||||||
1,700
|
Grant County Public Utility District 2, Washington, Priest Rapids Hydroelectric Development Revenue Bonds, Series 2005A, 5.000%, 1/01/14 – NPFG Insured
|
No Opt. Call
|
AA
|
1,707,361
|
|||||||
3,600
|
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2004PP, 5.000%, 7/01/22 – FGIC Insured
|
7/14 at 100.00
|
A
|
3,209,292
|
|||||||
1,570
|
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2005RR, 5.000%, 7/01/22 – FGIC Insured
|
7/15 at 100.00
|
A
|
1,399,608
|
|||||||
1,040
|
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2010XX, 5.250%, 7/01/40
|
7/20 at 100.00
|
BBB
|
728,551
|
|||||||
1,225
|
Puerto Rico Electric Power Authority, Power Revenue Refunding Bonds, Series 2002JJ, 5.250%, 7/01/15 – NPFG Insured
|
No Opt. Call
|
A
|
1,220,259
|
|||||||
730
|
Virgin Islands Water and Power Authority, Electric System Revenue Bonds, Refunding Series 2007A, 5.000%, 7/01/24
|
7/17 at 100.00
|
BB+
|
682,039
|
|||||||
3,000
|
Wisconsin Public Power Incorporated System, Power Supply System Revenue Bonds, Series 2005A, 5.000%, 7/01/35 – AMBAC Insured
|
7/15 at 100.00
|
AA+
|
3,089,310
|
|||||||
12,865
|
Total Utilities
|
12,036,420
|
|||||||||
Water and Sewer – 4.6% (3.1% of Total Investments)
|
|||||||||||
2,500
|
Baltimore, Maryland, Project and Revenue Refunding Bonds, Water Projects, Series 2013B, 5.000%, 7/01/38 (WI/DD, Settling 12/03/13)
|
1/24 at 100.00
|
Aa2
|
2,637,750
|
|||||||
1,045
|
Baltimore, Maryland, Revenue Refunding Bonds, Water System Projects, Series 1994A, 5.000%, 7/01/24 – FGIC Insured
|
No Opt. Call
|
AA (4)
|
1,199,117
|
|||||||
2,570
|
Baltimore, Maryland, Wastewater Project Revenue Bonds, Series 2006C, 5.000%, 7/01/31 – AMBAC Insured
|
7/16 at 100.00
|
AA
|
2,715,796
|
|||||||
3,000
|
Baltimore, Maryland, Wastewater Project Revenue Bonds, Series 2007D, 5.000%, 7/01/32 – AMBAC Insured
|
7/17 at 100.00
|
AA
|
3,182,790
|
|||||||
2,000
|
Baltimore, Maryland, Wastewater Project Revenue Bonds, Series 2011A, 5.000%, 7/01/41
|
7/21 at 100.00
|
AA
|
2,075,320
|
Nuveen Investments
|
33
|
NMY
|
Nuveen Maryland Premium Income Municipal Fund (continued)
|
Portfolio of Investments November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Water and Sewer (continued)
|
|||||||||||
$
|
2,030
|
Guam Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2013, 5.500%, 7/01/43 (WI/DD, Settling 12/12/13)
|
7/23 at 100.00
|
A–
|
$
|
1,983,229
|
|||||
1,645
|
Maryland Water Quality Financing Administration, Revolving Loan Fund Revenue Bonds, Series 2005A, 5.000%, 9/01/15
|
No Opt. Call
|
AAA
|
1,781,420
|
|||||||
14,790
|
Total Water and Sewer
|
15,575,422
|
|||||||||
$
|
675,066
|
Total Long-Term Investments (cost $500,463,746)
|
504,265,613
|
||||||||
Floating Rate Obligations – (6.6)%
|
(21,995,000
|
) | |||||||||
MuniFund Term Preferred Shares, at Liquidation Value – (49.5)% (7)
|
(166,144,000
|
) | |||||||||
Other Assets Less Liabilities – 5.9%
|
19,512,398
|
||||||||||
Net Assets Applicable to Common Shares – 100%
|
$
|
335,639,011
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.
|
(2)
|
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.
|
(3)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
(4)
|
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.
|
(5)
|
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.
|
(6)
|
At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records.
|
(7)
|
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 32.9%
|
WI/DD
|
Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.
|
(ETM)
|
Escrowed to maturity.
|
(IF)
|
Inverse floating rate investment.
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities for more information.
|
34
|
Nuveen Investments
|
NOM
|
|
Nuveen Missouri Premium Income Municipal Fund
|
|
Portfolio of Investments
|
|
November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
LONG-TERM INVESTMENTS – 164.6% (100.0% of Total Investments)
|
|||||||||||
MUNICIPAL BONDS – 164.6% (100.0% of Total Investments)
|
|||||||||||
Consumer Staples – 3.6% (2.2% of Total Investments)
|
|||||||||||
$
|
1,010
|
Missouri Development Finance Board, Solid Waste Disposal Revenue Bonds, Procter and Gamble Inc., Series 1999, 5.200%, 3/15/29 (Alternative Minimum Tax)
|
No Opt. Call
|
AA–
|
$
|
1,105,102
|
|||||
Education and Civic Organizations – 16.0% (9.7% of Total Investments)
|
|||||||||||
250
|
Lincoln University, Missouri, Auxillary System Revenue Bonds, Series 2007, 5.125%, 6/01/37 – AGC Insured
|
6/17 at 100.00
|
AA–
|
252,198
|
|||||||
750
|
Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, Saint Louis College of Pharmacy, Series 2013, 5.500%, 5/01/43
|
5/23 at 100.00
|
BBB+
|
751,605
|
|||||||
600
|
Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, Southwest Baptist University Project, Series 2012, 5.000%, 10/01/33
|
10/22 at 100.00
|
BBB–
|
573,066
|
|||||||
725
|
Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, University of Central Missouri, Series 2013C2, 5.000%, 10/01/34 (WI/DD, Settling 12/10/13)
|
10/23 at 100.00
|
N/R
|
750,020
|
|||||||
630
|
Missouri Health and Educational Facilities Authority, Revenue Bonds, A.T. Still University of Health Sciences, Series 2011, 5.250%, 10/01/41
|
10/21 at 100.00
|
A–
|
650,066
|
|||||||
700
|
Missouri Health and Educational Facilities Authority, Revenue Bonds, Rockhurst University, Series 2011A, 6.500%, 10/01/35
|
10/18 at 103.00
|
BBB–
|
761,110
|
|||||||
550
|
Missouri Health and Educational Facilities Authority, Revenue Bonds, Washington University, Series 2011B, 5.000%, 11/15/37
|
11/21 at 100.00
|
AAA
|
589,111
|
|||||||
600
|
Missouri Health and Educational Facilities Authority, Revenue Bonds, Webster University, Series 2011, 5.000%, 4/01/36
|
4/21 at 100.00
|
A2
|
617,028
|
|||||||
4,805
|
Total Education and Civic Organizations
|
4,944,204
|
|||||||||
Health Care – 35.6% (21.6% of Total Investments)
|
|||||||||||
525
|
Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Saint Francis Medical Center, Series 2009A, 5.750%, 6/01/39
|
6/19 at 100.00
|
AA–
|
544,640
|
|||||||
Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Southeast Missouri Hospital Association, Series 2007:
|
|||||||||||
760
|
5.000%, 6/01/27
|
6/17 at 100.00
|
BBB+
|
763,306
|
|||||||
560
|
5.000%, 6/01/36
|
6/17 at 100.00
|
BBB+
|
537,712
|
|||||||
930
|
Cass County, Missouri, Hospital Revenue Bonds, Series 2007, 5.625%, 5/01/38
|
11/16 at 100.00
|
BBB–
|
889,554
|
|||||||
480
|
Clinton County Industrial Development Authority, Missouri, Revenue Bonds, Cameron Regional Medical Center, Series 2007, 5.000%, 12/01/37
|
12/17 at 100.00
|
N/R
|
403,296
|
|||||||
750
|
Joplin Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Freeman Health System, Series 2004, 5.500%, 2/15/29
|
2/15 at 102.00
|
BBB+
|
759,720
|
|||||||
200
|
Joplin Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Freeman Health System, Series 2011, 5.500%, 2/15/31
|
2/21 at 100.00
|
BBB+
|
203,854
|
|||||||
540
|
Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, Capital Region Medical Center, Series 2011, 5.000%, 11/01/27
|
11/20 at 100.00
|
A3
|
557,129
|
|||||||
335
|
Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, Heartland Regional Medical Center, Series 2012, 5.000%, 2/15/37
|
2/22 at 100.00
|
A1
|
335,087
|
|||||||
750
|
Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, Mercy Health, Series 2012, 4.000%, 11/15/42
|
No Opt. Call
|
AA–
|
625,845
|
Nuveen Investments
|
35
|
NOM
|
Nuveen Missouri Premium Income Municipal Fund (continued)
|
Portfolio of Investments November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Health Care (continued)
|
|||||||||||
$
|
500
|
Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, St. Luke’s Episcopal and Presbyterian Hospitals, Series 2011, 5.000%, 12/01/25
|
12/21 at 100.00
|
A+
|
$
|
532,435
|
|||||
2,000
|
Missouri Health and Educational Facilities Authority, Health Facility Revenue Bonds, St. Lukes’s Health System, Series 2010A, 5.000%, 11/15/30
|
11/20 at 100.00
|
A+
|
2,063,379
|
|||||||
1,730
|
Missouri State Health and Educational Facilities Authority, Health Facilities Revenue Bonds, CoxHealth, Series 2013A, 5.000%, 11/15/44
|
11/23 at 100.00
|
A2
|
1,709,811
|
|||||||
720
|
Saline County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, John Fitzgibbon Memorial Hospital Inc., Series 2010, 5.600%, 12/01/28
|
12/20 at 100.00
|
BBB–
|
760,975
|
|||||||
350
|
St. Louis County Industrial Development Authority, Missouri, Healthcare Facilities Revenue Bonds, Ranken-Jordan Project, Refunding Series 2007, 5.000%, 11/15/27
|
11/16 at 100.00
|
N/R
|
319,687
|
|||||||
11,130
|
Total Health Care
|
11,006,430
|
|||||||||
Housing/Multifamily – 0.9% (0.6% of Total Investments)
|
|||||||||||
350
|
Northwest Missouri State University, Housing System Revenue Bonds, Refunding Series 2012, 3.125%, 6/01/29
|
No Opt. Call
|
A3
|
289,783
|
|||||||
Housing/Single Family – 1.4% (0.9% of Total Investments)
|
|||||||||||
195
|
Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, Homeownership Loan Program, Series 2007A-1, 4.700%, 9/01/27 (Alternative Minimum Tax)
|
9/16 at 100.00
|
AA+
|
196,558
|
|||||||
245
|
Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, Homeownership Loan Program, Series 2007C-1, 4.800%, 9/01/38 (Alternative Minimum Tax)
|
3/17 at 100.00
|
AA+
|
245,260
|
|||||||
440
|
Total Housing/Single Family
|
441,818
|
|||||||||
Long-Term Care – 14.3% (8.7% of Total Investments)
|
|||||||||||
250
|
Bridgeton Industrial Development Authority, Missouri, Senior Housing Revenue Bonds, The Sarah Community Project, Series 2013, 4.500%, 5/01/28
|
5/18 at 100.00
|
N/R
|
218,300
|
|||||||
1,750
|
Cole County Industrial Development Authority, Missouri, Revenue Bonds, Lutheran Senior Services – Heisinger Project, Series 2004, 5.500%, 2/01/35
|
2/14 at 100.00
|
BBB+
|
1,744,434
|
|||||||
500
|
Joplin Industrial Development Authority, Missouri, Revenue Bonds, Christian Homes Inc., Series 2007F, 5.750%, 5/15/31
|
5/17 at 100.00
|
BBB–
|
501,925
|
|||||||
475
|
Lees Summit Industrial Development Authority, Missouri, Revenue Bonds, John Knox Village Obligated Group, Series 2007A, 5.125%, 8/15/32
|
8/17 at 100.00
|
BBB–
|
452,974
|
|||||||
250
|
Missouri Health and Educational Facilities Authority, Revenue Bonds, Lutheran Senior Services Projects, Series 2011, 6.000%, 2/01/41
|
2/21 at 100.00
|
BBB+
|
258,875
|
|||||||
100
|
St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Friendship Village of Chesterfield, Series 2012, 5.000%, 9/01/42
|
No Opt. Call
|
BBB–
|
86,798
|
|||||||
St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Friendship Village of Sunset Hills, Series 2012:
|
|||||||||||
250
|
5.000%, 9/01/32
|
No Opt. Call
|
A–
|
248,028
|
|||||||
425
|
5.000%, 9/01/42
|
9/22 at 100.00
|
A–
|
408,982
|
|||||||
500
|
St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Friendship Village of West County, Series 2007A, 5.500%, 9/01/28
|
9/17 at 100.00
|
BBB–
|
500,035
|
|||||||
4,500
|
Total Long-Term Care
|
4,420,351
|
|||||||||
Tax Obligation/General – 18.2% (11.0% of Total Investments)
|
|||||||||||
600
|
Branson Reorganized School District R-4, Taney County, Missouri, General Obligation Bonds, School Building Series 2012, 4.375%, 3/01/32
|
3/22 at 100.00
|
A+
|
595,122
|
|||||||
1,500
|
Camdenton Reorganized School District R3, Camden County, Missouri, General Obligation Bonds, Series 2005, 5.250%, 3/01/24 – AGM Insured
|
3/15 at 100.00
|
AA–
|
1,584,000
|
|||||||
1,685
|
Independence School District, Jackson County, Missouri, General Obligation Bonds, Series 2010, 5.000%, 3/01/27
|
3/20 at 100.00
|
AA+
|
1,831,089
|
36
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Tax Obligation/General (continued)
|
|||||||||||
$
|
500
|
Jackson County Reorganized School District 4, Blue Springs, Missouri, General Obligation Bonds, School Building Series 2013A, 5.000%, 3/01/31
|
3/21 at 100.00
|
AA
|
$
|
538,035
|
|||||
500
|
Kansas City, Missouri, General Obligation Bonds, Improvement & Refunding Series 2012A, 4.500%, 2/01/26
|
No Opt. Call
|
AA
|
537,910
|
|||||||
500
|
Missouri School Boards Association, Lease Participation Certificates, Clay County School District 53 Liberty, Series 2007, 5.250%, 3/01/27 – AGM Insured
|
3/17 at 100.00
|
AA–
|
541,795
|
|||||||
5,285
|
Total Tax Obligation/General
|
5,627,951
|
|||||||||
Tax Obligation/Limited – 24.3% (14.7% of Total Investments)
|
|||||||||||
910
|
Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Mass Transit Sales Tax Appropriation Bonds, Refunding Combined Lien Series 2013A, 5.000%, 10/01/33
|
10/22 at 100.00
|
AA+
|
961,861
|
|||||||
315
|
Fulton, Missouri, Tax Increment Revenue Bonds, Fulton Commons Redevelopment Project, Series 2006, 5.000%, 6/01/28
|
6/16 at 100.00
|
N/R
|
241,003
|
|||||||
455
|
Government of Guam, Business Privilege Tax Bonds, Series 2012B-1, 5.000%, 1/01/42
|
1/22 at 100.00
|
A
|
443,584
|
|||||||
Howard Bend Levee District, St. Louis County, Missouri, Levee District Improvement Bonds, Series 2013B: | |||||||||||
180
|
4.875%, 3/01/33
|
3/23 at 100.00
|
BBB+
|
170,201
|
|||||||
115
|
5.000%, 3/01/38
|
3/23 at 100.00
|
BBB+
|
105,185
|
|||||||
485
|
Jackson County, Missouri, Special Obligation Bonds, Truman Medical Center Project, Series 2011B, 4.350%, 12/01/23
|
12/21 at 100.00
|
Aa3
|
512,310
|
|||||||
300
|
Kansas City Industrial Development Authority, Missouri, Downtown Redevelopment District Revenue Bonds, Series 2011A, 5.000%, 9/01/32
|
9/21 at 100.00
|
AA–
|
304,020
|
|||||||
475
|
Kansas City Tax Increment Financing Commission, Missouri, Tax Increment Revenue Bonds, Briarcliff West Project, Series 2006A, 5.400%, 6/01/24
|
6/14 at 102.00
|
N/R
|
482,443
|
|||||||
360
|
Missouri Development Finance Board, Infrastructure Facilities Revenue Bonds, Branson Landing Project, Series 2005A, 5.000%, 6/01/35
|
6/15 at 100.00
|
A
|
359,528
|
|||||||
245
|
Monarch-Chesterfield Levee District, St. Louis County, Missouri, Levee District Improvement Bonds, Series 1999, 5.750%, 3/01/19 – NPFG Insured
|
3/14 at 100.00
|
A
|
245,948
|
|||||||
500
|
Osage Beach, Missouri, Tax Increment Revenue Bonds, Prewitts Point Transportation Development District, Series 2006, 5.000%, 5/01/23
|
5/14 at 100.00
|
N/R
|
466,435
|
|||||||
1,750
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 6.000%, 8/01/42
|
8/19 at 100.00
|
A+
|
1,412,775
|
|||||||
225
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Senior Series 2011C, 0.000%, 8/01/41
|
No Opt. Call
|
AA–
|
33,881
|
|||||||
1,500
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%, 8/01/41 – NPFG Insured
|
No Opt. Call
|
AA–
|
232,620
|
|||||||
600
|
Riverside, Missouri, L-385 Levee Redevelopment Plan Tax Increment Revenue Bonds, Series 2004, 5.250%, 5/01/20
|
5/15 at 100.00
|
A
|
618,420
|
|||||||
St. Joseph Industrial Development Authority, Missouri, Tax Increment Bonds, Shoppes at North Village Project, Series 2005A:
|
|||||||||||
340
|
5.375%, 11/01/24
|
11/14 at 100.00
|
N/R
|
339,844
|
|||||||
400
|
5.500%, 11/01/27
|
11/14 at 100.00
|
N/R
|
388,624
|
|||||||
200
|
St. Joseph Industrial Development Authority, Missouri, Tax Increment Bonds, Shoppes at North Village Project, Series 2005B, 5.500%, 11/01/27
|
11/14 at 100.00
|
N/R
|
192,466
|
|||||||
9,355
|
Total Tax Obligation/Limited
|
7,511,148
|
Nuveen Investments
|
37
|
NOM
|
Nuveen Missouri Premium Income Municipal Fund (continued)
|
Portfolio of Investments November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Transportation – 13.9% (8.4% of Total Investments)
|
|||||||||||
$
|
335
|
Guam International Airport Authority, Revenue Bonds, Series 2013B, 5.500%, 10/01/33 – AGM Insured
|
10/23 at 100.00
|
AA–
|
$
|
341,603
|
|||||
1,000
|
St. Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series 2005, 5.500%, 7/01/18 – NPFG Insured
|
No Opt. Call
|
A
|
1,176,760
|
|||||||
2,500
|
St. Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series 2007A, 5.000%, 7/01/21 – AGM Insured
|
7/17 at 100.00
|
AA–
|
2,771,424
|
|||||||
3,835
|
Total Transportation
|
4,289,787
|
|||||||||
U.S. Guaranteed – 12.7% (7.7% of Total Investments) (4)
|
|||||||||||
600
|
Chesterfield, Missouri, Certificates of Participation, Series 2005, 5.000%, 12/01/24 (Pre-refunded 12/01/15) – FGIC Insured
|
12/15 at 100.00
|
Aa1 (4)
|
655,368
|
|||||||
80
|
Cottleville, Missouri, Certificates of Participation, Series 2006, 5.250%, 8/01/31 (Pre-refunded 8/01/14)
|
8/14 at 100.00
|
N/R (4)
|
82,738
|
|||||||
500
|
Missouri Health and Educational Facilities Authority, Revenue Bonds, Lake Regional Health System, Series 2003, Reg S, 5.700%, 2/15/34 (Pre-refunded 2/15/14)
|
2/14 at 100.00
|
N/R (4)
|
505,830
|
|||||||
1,395
|
Springfield Public Building Corporation, Missouri, Lease Revenue Bonds, Jordan Valley Park Projects, Series 2000A, 6.125%, 6/01/21 – AMBAC Insured (ETM)
|
2/14 at 100.00
|
N/R (4)
|
1,729,298
|
|||||||
St. Louis County Pattonville School District R3, Missouri, General Obligation Bonds, Series 2004:
|
|||||||||||
80
|
5.250%, 3/01/20 (Pre-refunded 3/01/14) – AGM Insured
|
3/14 at 100.00
|
AA– (4)
|
81,046
|
|||||||
250
|
5.250%, 3/01/20 (Pre-refunded 3/01/14) – AGM Insured
|
3/14 at 100.00
|
AA– (4)
|
253,268
|
|||||||
20
|
5.250%, 3/01/20 (Pre-refunded 3/01/14) – AGM Insured
|
3/14 at 100.00
|
AA– (4)
|
20,262
|
|||||||
500
|
St. Louis County, Missouri, GNMA Collateralized Mortgage Revenue Bonds, Series 1993D, 5.650%, 7/01/20 (Alternative Minimum Tax) (ETM)
|
No Opt. Call
|
AA+ (4)
|
599,835
|
|||||||
3,425
|
Total U.S. Guaranteed
|
3,927,645
|
|||||||||
Utilities – 4.7% (2.9% of Total Investments)
|
|||||||||||
110
|
Missouri Joint Municipal Electric Utility Commission, Iatan 2 Power Project Revenue Bonds, Series 2006A, 4.125%, 1/01/21 – AMBAC Insured
|
1/16 at 100.00
|
A2
|
115,762
|
|||||||
500
|
Missouri Joint Municipal Electric Utility Commission, Plum Point Project, Revenue Bonds, Series 2006, 5.000%, 1/01/34 – NPFG Insured
|
1/16 at 100.00
|
A
|
502,830
|
|||||||
Missouri Joint Municipal Electric Utility Commission, Power Supply System Revenue Bonds, MoPEP Facilities, Series 2012:
|
|||||||||||
400
|
5.000%, 1/01/32
|
1/21 at 100.00
|
A2
|
409,084
|
|||||||
425
|
5.000%, 1/01/37
|
1/21 at 100.00
|
A2
|
428,515
|
|||||||
1,435
|
Total Utilities
|
1,456,191
|
|||||||||
Water and Sewer – 19.0% (11.6% of Total Investments)
|
|||||||||||
600
|
Carroll County Public Water Supply District 1, Missouri, Water System Revenue Bonds, Refunding Series 2009, 6.000%, 3/01/39
|
3/18 at 100.00
|
A
|
629,484
|
|||||||
200
|
Metropolitan St. Louis Sewerage District, Missouri, Wastewater System Revenue Bonds, Series 2006C, 5.000%, 5/01/36 – NPFG Insured
|
5/17 at 100.00
|
AAA
|
209,874
|
38
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Water and Sewer (continued)
|
|||||||||||
$
|
2,000
|
Metropolitan St. Louis Sewerage District, Missouri, Wastewater System Revenue Bonds, Series 2012A, 5.000%, 5/01/42
|
5/22 at 100.00
|
AAA
|
$
|
2,124,119
|
|||||
2,965
|
Missouri Environmental Improvement and Energy Resources Authority, Water Facility Revenue Bonds, Missouri-American Water Company, Series 2006, 4.600%, 12/01/36 – BHAC Insured (Alternative Minimum Tax) (UB) (5)
|
12/16 at 100.00
|
AA+
|
2,931,792
|
|||||||
5,765
|
Total Water and Sewer
|
5,895,269
|
|||||||||
$
|
51,335
|
Total Long-Term Investments (cost $50,327,044)
|
50,915,679
|
||||||||
Floating Rate Obligations – (7.2)%
|
(2,225,000
|
) | |||||||||
MuniFund Term Preferred Shares, at Liquidation Value – (57.8)% (6)
|
(17,880,000
|
) | |||||||||
Other Assets Less Liabilities – 0.4%
|
125,081
|
||||||||||
Net Assets Applicable to Common Shares – 100%
|
$
|
30,935,760
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.
|
(2)
|
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.
|
(3)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
(4)
|
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.
|
(5)
|
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.
|
(6)
|
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 35.1%
|
WI/DD
|
Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.
|
(ETM)
|
Escrowed to maturity.
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities for more information.
|
Nuveen Investments
|
39
|
NNC
|
|
Nuveen North Carolina Premium Income Municipal Fund
|
|
Portfolio of Investments
|
|
November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
LONG-TERM INVESTMENTS – 154.6% (100.0% of Total Investments)
|
|||||||||||
MUNICIPAL BONDS – 154.6% (100.0% of Total Investments)
|
|||||||||||
Consumer Staples – 0.8% (0.5% of Total Investments)
|
|||||||||||
$
|
2,000
|
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, Series 2002, 5.500%, 5/15/39
|
2/14 at 100.00
|
BBB
|
$
|
1,746,120
|
|||||
Education and Civic Organizations – 14.7% (9.5% of Total Investments)
|
|||||||||||
30
|
Appalachian State University, North Carolina, Revenue Bonds, Series 2005, 5.250%, 7/15/17 – NPFG Insured
|
No Opt. Call
|
Aa3
|
34,701
|
|||||||
2,950
|
Board of Governors of the University of North Carolina, Winston-Salem State University General Revenue Bonds, Series 2013, 5.000%, 4/01/33
|
4/22 at 100.00
|
A
|
3,018,470
|
|||||||
1,500
|
Fayetteville State University, North Carolina, Limited Obligation Revenue Bonds, Student Housing Project, Series 2011, 5.000%, 4/01/43 – AGM Insured
|
4/21 at 100.00
|
AA–
|
1,515,510
|
|||||||
North Carolina Capital Facilities Finance Agency, Revenue Bonds, Johnson & Wales University, Series 2013A:
|
|||||||||||
1,560
|
5.000%, 4/01/32
|
4/23 at 100.00
|
A2
|
1,610,435
|
|||||||
1,000
|
5.000%, 4/01/33
|
4/23 at 100.00
|
A2
|
1,027,730
|
|||||||
2,500
|
North Carolina Capital Facilities Financing Agency, Revenue Bonds, Duke University, Series 2005A, 5.000%, 10/01/41 (UB)
|
10/15 at 100.00
|
AA+
|
2,546,350
|
|||||||
4,440
|
North Carolina Capital Facilities Finance Agency, Revenue Bonds, The Methodist University, Series 2012, 5.000%, 3/01/34
|
3/22 at 100.00
|
BBB
|
4,386,809
|
|||||||
University of North Carolina System, Pooled Revenue Bonds, Series 2005A:
|
|||||||||||
1,530
|
5.000%, 4/01/15 – AMBAC Insured
|
No Opt. Call
|
A+
|
1,626,069
|
|||||||
290
|
5.000%, 4/01/22 – AMBAC Insured
|
4/15 at 100.00
|
A+
|
304,462
|
|||||||
University of North Carolina Wilmington, Certificates of Participation, Student Housing Project Revenue Bonds, Series 2006:
|
|||||||||||
1,000
|
5.000%, 6/01/21 – FGIC Insured
|
6/16 at 100.00
|
A
|
1,050,960
|
|||||||
1,430
|
5.000%, 6/01/23 – FGIC Insured
|
6/16 at 100.00
|
A
|
1,488,358
|
|||||||
1,505
|
5.000%, 6/01/24 – FGIC Insured
|
6/16 at 100.00
|
A
|
1,558,759
|
|||||||
10,200
|
University of North Carolina, Chapel Hill, System Net Revenue Bonds, Series 2007, 5.000%, 12/01/36
|
12/17 at 100.00
|
AAA
|
11,116,059
|
|||||||
250
|
University of North Carolina, Charlotte, Certificates of Participation, Student Housing Project, Series 2005, 5.000%, 3/01/21 – AMBAC Insured
|
3/15 at 100.00
|
A
|
263,415
|
|||||||
University of North Carolina, System Pooled Revenue Bonds, Series 2009C:
|
|||||||||||
1,000
|
5.250%, 10/01/28
|
10/19 at 100.00
|
A3
|
1,051,170
|
|||||||
1,000
|
5.375%, 10/01/29
|
10/19 at 100.00
|
A3
|
1,049,140
|
|||||||
32,185
|
Total Education and Civic Organizations
|
33,648,397
|
|||||||||
Health Care – 33.8% (21.9% of Total Investments)
|
|||||||||||
Albemarle Hospital Authority, North Carolina, Health Care Facilities Revenue Bonds, Series 2007:
|
|||||||||||
1,840
|
5.250%, 10/01/27
|
10/17 at 100.00
|
N/R
|
1,722,829
|
|||||||
1,725
|
5.250%, 10/01/38
|
10/17 at 100.00
|
N/R
|
1,483,517
|
|||||||
2,750
|
Charlotte-Mecklenberg Hospital Authority, North Carolina, Health Care Revenue Bonds, DBA Carolinas HealthCare System, Refunding Series 2009A, 5.250%, 1/15/39
|
1/19 at 100.00
|
AA–
|
2,859,450
|
|||||||
4,950
|
Charlotte-Mecklenberg Hospital Authority, North Carolina, Health Care Revenue Bonds, DBA Carolinas HealthCare System, Series 2008A, 5.000%, 1/15/47
|
1/18 at 100.00
|
AA–
|
4,917,974
|
|||||||
2,000
|
Charlotte-Mecklenberg Hospital Authority, North Carolina, Health Care Revenue Bonds, DBA Carolinas HealthCare System, Series 2011A, 5.250%, 1/15/42
|
1/21 at 100.00
|
AA–
|
2,034,340
|
|||||||
5,250
|
Charlotte-Mecklenburg Hospital Authority, North Carolina, Health Care Revenue Bonds, DBA Carolinas HealthCare System, Refunding Series 2012A, 5.000%, 1/15/43
|
1/22 at 100.00
|
AA–
|
5,263,598
|
40
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Health Care (continued)
|
|||||||||||
$
|
2,225
|
Johnston Memorial Hospital Authority, North Carolina, Mortgage Revenue Bonds, Johnston Memorial Hospital Project, Series 2008A, 5.250%, 10/01/36 – AGM Insured
|
4/18 at 100.00
|
AA–
|
$
|
2,265,829
|
|||||
3,860
|
Nash Health Care Systems, North Carolina, Health Care Facilities Revenue Bonds, Series 2012, 5.000%, 11/01/41
|
5/22 at 100.00
|
A
|
3,816,884
|
|||||||
500
|
New Hanover County, North Carolina, Hospital Revenue Bonds, New Hanover Regional Medical Center, Refunding Series 2013, 5.000%, 10/01/26
|
10/23 at 100.00
|
A+
|
532,145
|
|||||||
555
|
New Hanover County, North Carolina, Hospital Revenue Bonds, New Hanover Regional Medical Center, Series 2006B, 5.125%, 10/01/31 – AGM Insured
|
10/19 at 100.00
|
AA–
|
572,749
|
|||||||
North Carolina Medical Care Commission Health Care Facilities Revenue Bonds Novant Health Inc., Series 2010A:
|
|||||||||||
4,750
|
5.250%, 11/01/40
|
11/20 at 100.00
|
AA–
|
4,822,723
|
|||||||
5,000
|
5.000%, 11/01/43
|
11/20 at 100.00
|
AA–
|
4,942,400
|
|||||||
2,750
|
North Carolina Medical Care Commission, Health Care Facilities Refunding Revenue Bonds, Blue Ridge HealthCare, Series 2010A, 5.000%, 1/01/36
|
1/20 at 100.00
|
A
|
2,631,145
|
|||||||
North Carolina Medical Care Commission, Health Care Facilities Revenue and Refunding Revenue Bonds, Columbus Regional Healthcare System, Series 2013A:
|
|||||||||||
2,000
|
3.750%, 10/01/33
|
10/22 at 100.00
|
BBB
|
1,553,000
|
|||||||
2,000
|
4.000%, 10/01/42
|
10/22 at 100.00
|
BBB
|
1,517,880
|
|||||||
2,680
|
North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Appalachian Regional HealthCare System, Series 2011A, 6.500%, 7/01/31
|
7/21 at 100.00
|
BBB+
|
2,924,952
|
|||||||
2,000
|
North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Duke University Health System, Series 2012A, 5.000%, 6/01/42
|
6/22 at 100.00
|
AA
|
2,037,440
|
|||||||
2,335
|
North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, FirstHealth of the Carolinas Project, Refunding Series 2012A, 4.000%, 10/01/39
|
10/17 at 100.00
|
AA
|
1,941,949
|
|||||||
North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Wake Forest Baptist Obligated Group, Series 2012A:
|
|||||||||||
3,000
|
5.000%, 12/01/45
|
No Opt. Call
|
A+
|
2,959,890
|
|||||||
9,000
|
4.000%, 12/01/45
|
12/22 at 100.00
|
A+
|
7,271,008
|
|||||||
2,375
|
North Carolina Medical Care Commission, Health Care Facilities Revenue Refunding Bonds, Cape Fear Valley Health System, Series 2012A, 5.000%, 10/01/27
|
No Opt. Call
|
A–
|
2,467,696
|
|||||||
2,000
|
North Carolina Medical Care Commission, Health Care Facilities Revenue Refunding Bonds, WakeMed, Series 2012A, 5.000%, 10/01/27
|
10/22 at 100.00
|
AA–
|
2,136,820
|
|||||||
2,000
|
North Carolina Medical Care Commission, Healthcare Facilities Revenue Bonds, Stanly Memorial Hospital, Series 1999, 6.375%, 10/01/29
|
4/14 at 100.00
|
BBB+
|
2,007,580
|
|||||||
2,930
|
North Carolina Medical Care Commission, Hospital Revenue Bonds, Southeastern Regional Medical Center, Refunding Series 2012, 5.000%, 6/01/32
|
6/22 at 100.00
|
A
|
2,963,373
|
|||||||
North Carolina Medical Care Commission, Hospital Revenue Bonds, Wilson Medical Center, Series 2007:
|
|||||||||||
500
|
5.000%, 11/01/20
|
11/17 at 100.00
|
A–
|
535,995
|
|||||||
3,425
|
5.000%, 11/01/27
|
11/17 at 100.00
|
A–
|
3,486,856
|
|||||||
3,295
|
North Carolina Medical Care Commission, Revenue Bonds, Blue Ridge Healthcare System, Series 2005, 5.000%, 1/01/33 – FGIC Insured
|
1/15 at 100.00
|
A
|
3,194,371
|
|||||||
750
|
Northern Hospital District of Surry County, North Carolina, Health Care Facilities Revenue Bonds, Series 2008, 6.250%, 10/01/38
|
4/18 at 100.00
|
BBB
|
764,295
|
|||||||
1,660
|
Onslow County Hospital Authority, North Carolina, FHA Insured Mortgage Revenue Bonds, Onslow Memorial Hospital Project, Series 2006, 5.000%, 4/01/31 – NPFG Insured
|
10/16 at 100.00
|
A
|
1,673,645
|
|||||||
80,105
|
Total Health Care
|
77,302,333
|
|||||||||
Housing/Multifamily – 3.4% (2.2% of Total Investments)
|
|||||||||||
3,875
|
Durham Housing Authority, North Carolina, Multifamily Housing Revenue Bonds, JFK Towers Project, Series 2012A, 5.000%, 12/01/47
|
No Opt. Call
|
A–
|
3,621,188
|
|||||||
Mecklenburg County, North Carolina, FNMA Multifamily Housing Revenue Bonds, Little Rock Apartments, Series 2003:
|
|||||||||||
890
|
5.150%, 1/01/22 (Alternative Minimum Tax)
|
7/18 at 100.00
|
AA+
|
935,390
|
|||||||
2,260
|
5.375%, 1/01/36 (Alternative Minimum Tax)
|
7/18 at 100.00
|
AA+
|
2,262,147
|
Nuveen Investments
|
41
|
NNC
|
Nuveen North Carolina Premium Income Municipal Fund (continued)
|
Portfolio of Investments November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Housing/Multifamily (continued)
|
|||||||||||
$
|
1,000
|
North Carolina Capital Facilities Financing Agency, Housing Revenue Bonds, Elizabeth City State University, Series 2003A, 5.000%, 6/01/28 – AMBAC Insured
|
2/14 at 100.00
|
N/R
|
$
|
991,860
|
|||||
8,025
|
Total Housing/Multifamily
|
7,810,585
|
|||||||||
Housing/Single Family – 2.5% (1.6% of Total Investments)
|
|||||||||||
1,395
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Series 2007-29A, 4.800%, 7/01/33 (Alternative Minimum Tax)
|
1/17 at 100.00
|
AA
|
1,395,335
|
|||||||
2,200
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Series 2011-1, 4.500%, 1/01/28
|
1/21 at 100.00
|
AA
|
2,248,158
|
|||||||
1,975
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Series 25-A, 4.900%, 7/01/37 (Alternative Minimum Tax)
|
7/16 at 100.00
|
AA
|
1,976,817
|
|||||||
5,570
|
Total Housing/Single Family
|
5,620,310
|
|||||||||
Long-Term Care – 1.4% (0.9% of Total Investments)
|
|||||||||||
North Carolina Medical Care Commission, Healthcare Facilities Revenue Bonds, Presbyterian Homes, Series 2006:
|
|||||||||||
700
|
5.400%, 10/01/27
|
10/16 at 100.00
|
N/R
|
664,608
|
|||||||
1,500
|
5.500%, 10/01/31
|
10/16 at 100.00
|
N/R
|
1,402,830
|
|||||||
900
|
North Carolina Medical Care Commission, Revenue Bonds, Pines at Davidson, Series 2006A, 5.000%, 1/01/36
|
1/16 at 100.00
|
A–
|
849,960
|
|||||||
450
|
North Carolina Medical Care Commission, Revenue Bonds, United Methodist Retirement Homes Inc., Refunding Series 2013A, 5.000%, 10/01/33
|
10/23 at 100.00
|
N/R
|
412,574
|
|||||||
3,550
|
Total Long-Term Care
|
3,329,972
|
|||||||||
Materials – 0.6% (0.4% of Total Investments)
|
|||||||||||
1,400
|
Columbus County Industrial Facilities and Pollution Control Financing Authority, North Carolina, Environmental Improvement Revenue Bonds, International Paper Company Project, Series 2007A, 4.625%, 3/01/27
|
3/17 at 100.00
|
BBB
|
1,341,606
|
|||||||
Tax Obligation/General – 5.0% (3.2% of Total Investments)
|
|||||||||||
Durham, North Carolina, General Obligation Bonds, Series 2007:
|
|||||||||||
2,820
|
5.000%, 4/01/21
|
4/17 at 100.00
|
AAA
|
3,169,257
|
|||||||
1,475
|
5.000%, 4/01/22
|
4/17 at 100.00
|
AAA
|
1,665,024
|
|||||||
1,050
|
Forsyth County, North Carolina, General Obligation Bonds, Limited Obligation Series 2009, 5.000%, 4/01/30
|
4/20 at 100.00
|
AA+
|
1,117,904
|
|||||||
5,100
|
Wake County, North Carolina, Limited Obligation Bonds, Series 2010, 5.000%, 1/01/37
|
1/20 at 100.00
|
AA+
|
5,404,113
|
|||||||
10,445
|
Total Tax Obligation/General
|
11,356,298
|
|||||||||
Tax Obligation/Limited – 16.6% (10.7% of Total Investments)
|
|||||||||||
2,405
|
Charlotte, North Carolina, Certificates of Participation, Transit Projects Phase 2, Series 2008A, 5.000%, 6/01/33
|
6/18 at 100.00
|
AA+
|
2,490,113
|
|||||||
2,085
|
Dare County, North Carolina, Installment Purchase Contract, Limited Obligation Series 2012B, 5.000%, 6/01/28
|
6/22 at 100.00
|
AA–
|
2,268,543
|
|||||||
850
|
Davidson County, North Carolina, Certificates of Participation, Series 2004, 5.250%, 6/01/14 – AMBAC Insured
|
No Opt. Call
|
Aa3
|
870,647
|
|||||||
1,390
|
Durham, North Carolina, Certificates of Participation, Series 2005B, 5.000%, 6/01/25
|
6/15 at 100.00
|
AA+
|
1,482,240
|
|||||||
1,060
|
Government of Guam, Business Privilege Tax Bonds, Series 2011A, 5.125%, 1/01/42
|
1/22 at 100.00
|
A
|
1,057,604
|
|||||||
Harnett County, North Carolina, Certificates of Participation, Series 2009:
|
|||||||||||
1,000
|
5.000%, 6/01/28 – AGC Insured
|
6/19 at 100.00
|
AA–
|
1,043,240
|
|||||||
500
|
5.000%, 6/01/29 – AGC Insured
|
6/19 at 100.00
|
AA–
|
518,980
|
|||||||
1,155
|
Hillsborough, North Carolina, Special Assessment Revenue Bonds, Series 2013, 7.750%, 2/01/24
|
2/23 at 100.00
|
N/R
|
1,158,742
|
|||||||
Jacksonville Public Facilities Corporation, North Carolina, Limited Obligation Bonds, Series 2012:
|
|||||||||||
1,065
|
5.000%, 4/01/29
|
4/22 at 100.00
|
A1
|
1,132,841
|
|||||||
1,165
|
5.000%, 4/01/30
|
4/22 at 100.00
|
A1
|
1,229,937
|
|||||||
1,000
|
5.000%, 4/01/31
|
4/22 at 100.00
|
A1
|
1,050,710
|
|||||||
200
|
5.000%, 4/01/32
|
4/22 at 100.00
|
A1
|
209,142
|
42
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Tax Obligation/Limited (continued)
|
|||||||||||
$
|
400
|
Mecklenburg County, North Carolina, Certificates of Participation, Series 2009A, 5.000%, 2/01/27
|
2/19 at 100.00
|
AA+
|
$
|
425,352
|
|||||
8,065
|
North Carolina Turnpike Authority, Monroe Connector System State Appropriation Bonds, Series 2011, 5.000%, 7/01/41
|
7/21 at 100.00
|
AA
|
8,368,726
|
|||||||
Raleigh, North Carolina, Certificates of Participation, Downtown Improvement Project, Series 2004B:
|
|||||||||||
1,275
|
5.000%, 6/01/20
|
6/14 at 100.00
|
AA+
|
1,304,873
|
|||||||
1,310
|
5.000%, 6/01/21
|
6/14 at 100.00
|
AA+
|
1,340,693
|
|||||||
1,135
|
Raleigh, North Carolina, Certificates of Participation, Series 2007, 5.000%, 2/01/27
|
2/17 at 100.00
|
AA+
|
1,216,459
|
|||||||
1,000
|
Raleigh, North Carolina, Limited Obligation Bonds, Series 2013, 5.000%, 10/01/33
|
10/23 at 100.00
|
AA+
|
1,079,780
|
|||||||
5,000
|
Sampson County, North Carolina, Certificates of Participation, Series 2006, 5.000%, 6/01/34 – AGM Insured (UB)
|
6/17 at 100.00
|
AA–
|
5,088,500
|
|||||||
2,450
|
Wilmington, North Carolina, Certificates of Participation, Series 2008A, 5.000%, 6/01/29
|
6/18 at 100.00
|
AA
|
2,585,951
|
|||||||
1,750
|
Wilson County, North Carolina, Certificates of Participation, School Facilities Project, Series 2007, 5.000%, 4/01/25 – AMBAC Insured
|
4/17 at 100.00
|
Aa3
|
1,937,775
|
|||||||
36,260
|
Total Tax Obligation/Limited
|
37,860,848
|
|||||||||
Transportation – 16.8% (10.9% of Total Investments)
|
|||||||||||
5,000
|
Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International Refunding Series 2010A, 5.000%, 7/01/39
|
7/20 at 100.00
|
Aa3
|
5,126,650
|
|||||||
10
|
Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International Refunding Series 2010B, 5.375%, 7/01/28 (Alternative Minimum Tax)
|
7/20 at 100.00
|
Aa3
|
10,564
|
|||||||
1,400
|
Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International, Series 2010B, 5.000%, 7/01/36 (Alternative Minimum Tax)
|
7/21 at 100.00
|
Aa3
|
1,398,054
|
|||||||
1,425
|
Charlotte, North Carolina, Airport Revenue Bonds, Refunding Series 2011A, 5.000%, 7/01/41
|
No Opt. Call
|
Aa3
|
1,458,359
|
|||||||
Charlotte, North Carolina, Airport Revenue Bonds, Series 2004A:
|
|||||||||||
600
|
5.250%, 7/01/24 – NPFG Insured
|
7/14 at 100.00
|
Aa3
|
615,576
|
|||||||
2,710
|
5.000%, 7/01/29 – NPFG Insured
|
7/14 at 100.00
|
Aa3
|
2,762,303
|
|||||||
1,935
|
5.000%, 7/01/34 – NPFG Insured
|
7/14 at 100.00
|
Aa3
|
1,969,366
|
|||||||
2,725
|
North Carolina State Ports Authority, Port Facilities Revenue Bonds, Senior Lien Series 2010A, 5.250%, 2/01/40
|
2/20 at 100.00
|
A3
|
2,844,355
|
|||||||
515
|
North Carolina State Ports Authority, Port Facilities Revenue Bonds, Senior Lien Series 2010B, 5.000%, 2/01/29
|
2/20 at 100.00
|
A3
|
538,309
|
|||||||
North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Series 2009A:
|
|||||||||||
140
|
5.000%, 1/01/21 – AGC Insured
|
1/19 at 100.00
|
AA–
|
155,564
|
|||||||
265
|
5.375%, 1/01/26 – AGC Insured
|
1/19 at 100.00
|
AA–
|
289,131
|
|||||||
1,580
|
5.500%, 1/01/29 – AGC Insured
|
1/19 at 100.00
|
AA–
|
1,713,052
|
|||||||
7,335
|
5.750%, 1/01/39 – AGC Insured
|
1/19 at 100.00
|
AA–
|
7,868,106
|
|||||||
North Carolina Turnpike Authority, Triangle Expressway System Senior Lien Revenue Bonds, Series 2009B:
|
|||||||||||
150
|
0.000%, 1/01/31 – AGC Insured
|
No Opt. Call
|
AA–
|
63,966
|
|||||||
4,355
|
0.000%, 1/01/33 – AGC Insured
|
No Opt. Call
|
AA–
|
1,662,173
|
|||||||
2,300
|
0.000%, 1/01/34 – AGC Insured
|
No Opt. Call
|
AA–
|
831,381
|
|||||||
2,345
|
0.000%, 1/01/35 – AGC Insured
|
No Opt. Call
|
AA–
|
800,841
|
|||||||
7,505
|
0.000%, 1/01/37 – AGC Insured
|
No Opt. Call
|
AA–
|
2,284,147
|
|||||||
1,325
|
0.000%, 1/01/38 – AGC Insured
|
No Opt. Call
|
AA–
|
380,421
|
|||||||
1,235
|
Piedmont Triad Airport Authority, North Carolina, Airport Revenue Bonds, Series 2005A, 5.000%, 7/01/20 – SYNCORA GTY Insured
|
7/15 at 100.00
|
A–
|
1,319,993
|
|||||||
4,125
|
Raleigh Durham Airport Authority, North Carolina, Airport Revenue Bonds, Refunding Series 2010A, 5.000%, 5/01/36
|
5/20 at 100.00
|
Aa3
|
4,296,435
|
|||||||
48,980
|
Total Transportation
|
38,388,746
|
|||||||||
U.S. Guaranteed – 23.1% (15.0% of Total Investments) (4)
|
|||||||||||
Catawba County, North Carolina, Certificates of Participation, Series 2004:
|
|||||||||||
1,800
|
5.250%, 6/01/21 (Pre-refunded 6/01/14) – NPFG Insured
|
6/14 at 100.00
|
Aa2 (4)
|
1,846,458
|
|||||||
1,800
|
5.250%, 6/01/22 (Pre-refunded 6/01/14) – NPFG Insured
|
6/14 at 100.00
|
Aa2 (4)
|
1,846,458
|
Nuveen Investments
|
43
|
NNC
|
Nuveen North Carolina Premium Income Municipal Fund (continued) |
Portfolio of Investments November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
U.S. Guaranteed (4) (continued)
|
|||||||||||
$
|
500
|
Charlotte-Mecklenburg Hospital Authority, North Carolina, Healthcare System Revenue Bonds, DBA Carolinas Healthcare System, Series 2005A, 5.000%, 1/15/45 (Pre-refunded 1/15/15)
|
1/15 at 100.00
|
AA+ (4)
|
$
|
527,020
|
|||||
Craven County, North Carolina, Certificates of Participation, Series 2007:
|
|||||||||||
160
|
5.000%, 6/01/23 (Pre-refunded 6/01/17) – NPFG Insured
|
6/17 at 100.00
|
AA– (4)
|
183,736
|
|||||||
3,000
|
5.000%, 6/01/27 (Pre-refunded 6/01/17) – NPFG Insured
|
6/17 at 100.00
|
AA– (4)
|
3,445,050
|
|||||||
1,250
|
Davidson County, North Carolina, Certificates of Participation, Series 2004, 5.250%, 6/01/21 (Pre-refunded 6/01/14) – AMBAC Insured
|
6/14 at 100.00
|
Aa3 (4)
|
1,282,263
|
|||||||
Greensboro, North Carolina, Combined Enterprise System Revenue Bonds, Series 2005A:
|
|||||||||||
500
|
5.000%, 6/01/25 (Pre-refunded 6/01/15)
|
6/15 at 100.00
|
AAA
|
535,560
|
|||||||
1,295
|
5.000%, 6/01/26 (Pre-refunded 6/01/15)
|
6/15 at 100.00
|
AAA
|
1,387,100
|
|||||||
Lee County, North Carolina, Certificates of Participation, Public Schools and Community College, Series 2004:
|
|||||||||||
1,715
|
5.250%, 4/01/18 (Pre-refunded 4/01/14) – AGM Insured
|
4/14 at 100.00
|
AA– (4)
|
1,744,704
|
|||||||
1,715
|
5.250%, 4/01/20 (Pre-refunded 4/01/14) – AGM Insured
|
4/14 at 100.00
|
AA– (4)
|
1,744,704
|
|||||||
1,000
|
5.250%, 4/01/22 (Pre-refunded 4/01/14) – AGM Insured
|
4/14 at 100.00
|
AA– (4)
|
1,017,320
|
|||||||
1,500
|
North Carolina Infrastructure Finance Corporation, Certificates of Participation, Correctional Facilities, Series 2004A, 5.000%, 2/01/23 (Pre-refunded 2/01/14)
|
2/14 at 100.00
|
AA+ (4)
|
1,512,600
|
|||||||
1,680
|
North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Cleveland County Healthcare System, Refunding Series 2011A, 5.750%, 1/01/35 (Pre-refunded 1/01/21)
|
1/21 at 100.00
|
AA– (4)
|
2,082,511
|
|||||||
2,250
|
North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, WakeMed, Series 2009A, 5.625%, 10/01/38 (Pre-refunded 10/01/14) – AGC Insured
|
10/14 at 100.00
|
AA– (4)
|
2,353,028
|
|||||||
North Carolina Medical Care Commission, Revenue Bonds, Cleveland County Healthcare System, Series 2004A:
|
|||||||||||
1,195
|
5.250%, 7/01/20 (Pre-refunded 7/01/14) – AMBAC Insured
|
7/14 at 100.00
|
AA– (4)
|
1,230,898
|
|||||||
1,000
|
5.250%, 7/01/22 (Pre-refunded 7/01/14) – AMBAC Insured
|
7/14 at 100.00
|
AA– (4)
|
1,030,040
|
|||||||
2,035
|
North Carolina Medical Care Commission, Revenue Bonds, Northeast Medical Center, Series 2004, 5.000%, 11/01/24 (Pre-refunded 11/01/14)
|
11/14 at 100.00
|
N/R (4)
|
2,124,723
|
|||||||
4,260
|
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 1986, 5.000%, 1/01/20 (ETM)
|
No Opt. Call
|
Aaa
|
5,032,807
|
|||||||
North Carolina State, General Obligation Bonds, Series 2004A:
|
|||||||||||
1,000
|
5.000%, 3/01/18 (Pre-refunded 3/01/14)
|
3/14 at 100.00
|
AAA
|
1,012,460
|
|||||||
1,800
|
5.000%, 3/01/22 (Pre-refunded 3/01/14)
|
3/14 at 100.00
|
AAA
|
1,822,428
|
|||||||
2,500
|
North Carolina, Certificates of Participation, Repair and Renovation Project, Series 2004B, 5.000%, 6/01/20 (Pre-refunded 6/01/14)
|
6/14 at 100.00
|
AA+ (4)
|
2,561,350
|
|||||||
Pasquotank County, North Carolina, Certificates of Participation, Series 2004:
|
|||||||||||
460
|
5.000%, 6/01/25 (Pre-refunded 6/01/14)
|
6/14 at 100.00
|
A (4)
|
471,196
|
|||||||
920
|
5.000%, 6/01/25 (Pre-refunded 6/01/14)
|
6/14 at 100.00
|
A (4)
|
942,485
|
|||||||
2,070
|
Pitt County, North Carolina, Certificates of Participation, School Facilities Project, Series 2004B, 5.000%, 4/01/29 (Pre-refunded 4/01/14) – AMBAC Insured
|
4/14 at 100.00
|
AA (4)
|
2,104,176
|
|||||||
2,000
|
Puerto Rico Highway and Transportation Authority, Grant Anticipation Revenue Bonds, Series 2004, 5.000%, 9/15/21 (Pre-refunded 3/15/14) – NPFG Insured
|
3/14 at 100.00
|
Baa1 (4)
|
2,028,520
|
|||||||
Raleigh, North Carolina, Combined Enterprise System Revenue Bonds, Series 2004:
|
|||||||||||
1,000
|
5.000%, 3/01/21 (Pre-refunded 3/01/14)
|
3/14 at 100.00
|
AAA
|
1,012,460
|
|||||||
1,250
|
5.000%, 3/01/22 (Pre-refunded 3/01/14)
|
3/14 at 100.00
|
AAA
|
1,265,575
|
|||||||
2,990
|
Raleigh, North Carolina, Combined Enterprise System Revenue Bonds, Series 2006A, 5.000%, 3/01/36 (Pre-refunded 3/01/16)
|
3/16 at 100.00
|
N/R (4)
|
3,299,824
|
|||||||
2,000
|
Randolph County, North Carolina, Certificates of Participation, Series 2004, 5.000%, 6/01/20 (Pre-refunded 6/01/14) – AGM Insured
|
6/14 at 102.00
|
AA– (4)
|
2,089,060
|
|||||||
2,250
|
Rutherford County, North Carolina, Certificates of Participation, Series 2007, 5.000%, 12/01/27 (Pre-refunded 12/01/17) – AGM Insured
|
12/17 at 100.00
|
AA– (4)
|
2,618,055
|
|||||||
University of North Carolina System, Pooled Revenue Bonds, Series 2005A:
|
|||||||||||
555
|
5.000%, 4/01/22 (Pre-refunded 4/01/15) – AMBAC Insured
|
4/15 at 100.00
|
N/R (4)
|
590,292
|
|||||||
155
|
5.000%, 4/01/22 (Pre-refunded 4/01/15) – AMBAC Insured
|
4/15 at 100.00
|
N/R (4)
|
164,856
|
|||||||
49,605
|
Total U.S. Guaranteed
|
52,909,717
|
44
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Utilities – 9.7% (6.3% of Total Investments)
|
|||||||||||
$
|
2,500
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2005, 5.250%, 1/01/20 – AMBAC Insured
|
1/16 at 100.00
|
A–
|
$
|
2,724,525
|
|||||
1,400
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2009B, 5.000%, 1/01/26
|
1/19 at 100.00
|
A–
|
1,501,122
|
|||||||
3,500
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2012A, 5.000%, 1/01/25
|
7/22 at 100.00
|
A–
|
3,859,135
|
|||||||
North Carolina Eastern Municipal Power Agency, Power System Revenue Refunding Bonds, Series 1993B:
|
|||||||||||
95
|
6.000%, 1/01/22
|
No Opt. Call
|
A–
|
115,104
|
|||||||
180
|
6.000%, 1/01/22 – FGIC Insured
|
No Opt. Call
|
Baa1
|
218,092
|
|||||||
1,100
|
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2009A, 5.000%, 1/01/30
|
1/19 at 100.00
|
A
|
1,155,330
|
|||||||
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2012A:
|
|||||||||||
4,000
|
5.000%, 1/01/18
|
No Opt. Call
|
A
|
4,596,080
|
|||||||
2,000
|
5.000%, 1/01/19
|
No Opt. Call
|
A
|
2,316,180
|
|||||||
1,050
|
4.000%, 1/01/20
|
No Opt. Call
|
A
|
1,155,882
|
|||||||
250
|
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 2008A, 5.250%, 1/01/20
|
1/18 at 100.00
|
A
|
279,655
|
|||||||
5,000
|
Wake County Industrial Facilities and Pollution Control Financing Authority, North Carolina, Pollution Control Revenue Refunding Bonds, Duke Energy Progress, Inc. Project, Series 2013, 4.000%, 6/01/41
|
6/23 at 100.00
|
Aa3
|
4,365,100
|
|||||||
21,075
|
Total Utilities
|
22,286,205
|
|||||||||
Water and Sewer – 26.2% (16.9% of Total Investments)
|
|||||||||||
1,605
|
Broad River Water Authority, North Carolina, Water System Revenue Bonds, Series 2005, 5.000%, 6/01/20 – SYNCORA GTY Insured
|
6/15 at 100.00
|
A2
|
1,663,181
|
|||||||
3,100
|
Brunswick County, North Carolina, Enterprise System Revenue Bonds, Series 2008A, 5.000%, 4/01/31 – AGM Insured
|
4/18 at 100.00
|
AA–
|
3,281,195
|
|||||||
1,145
|
Brunswick County, North Carolina, Enterprise Systems Revenue Refunding Bonds, Series 2012A, 5.000%, 4/01/25
|
4/22 at 100.00
|
AA–
|
1,303,308
|
|||||||
Cape Fear Public Utility Authority, North Carolina, Water & Sewer System Revenue Bonds, Series 2008:
|
|||||||||||
425
|
5.000%, 8/01/28
|
8/18 at 100.00
|
AA
|
463,990
|
|||||||
1,005
|
5.000%, 8/01/35
|
8/18 at 100.00
|
AA
|
1,044,175
|
|||||||
2,135
|
Cape Fear Public Utility Authority, North Carolina, Water & Sewer System Revenue Bonds, Series 2011, 5.000%, 8/01/31
|
8/21 at 100.00
|
AA
|
2,292,243
|
|||||||
1,000
|
Charlotte, North Carolina, Water and Sewerage System Revenue Bonds, Series 2008, 5.000%, 7/01/38
|
7/18 at 100.00
|
AAA
|
1,055,240
|
|||||||
Dare County, North Carolina, Utilities System Revenue Bonds, Series 2011:
|
|||||||||||
3,860
|
5.000%, 2/01/36
|
2/21 at 100.00
|
AA
|
4,044,431
|
|||||||
1,250
|
5.000%, 2/01/41
|
2/21 at 100.00
|
AA
|
1,296,400
|
|||||||
8,600
|
Durham, North Carolina, Utility System Revenue Bonds, Refunding Series 2011, 5.000%, 6/01/41
|
6/21 at 100.00
|
AAA
|
9,016,410
|
|||||||
1,535
|
Mooresville, North Carolina, Enterprise System Revenue Bonds, Refunding Series 2012, 5.000%, 5/01/28
|
5/22 at 100.00
|
AA–
|
1,682,498
|
|||||||
1,210
|
Oak Island, North Carolina, Enterprise System Revenue Bonds, Series 2008A, 5.000%, 6/01/23 – NPFG Insured
|
6/18 at 100.00
|
A
|
1,361,686
|
|||||||
Oak Island, North Carolina, Enterprise System Revenue Bonds, Series 2009A:
|
|||||||||||
2,020
|
6.000%, 6/01/34 – AGC Insured
|
6/19 at 100.00
|
AA–
|
2,175,479
|
|||||||
1,020
|
6.000%, 6/01/36 – AGC Insured
|
6/19 at 100.00
|
AA–
|
1,096,959
|
|||||||
Oak Island, North Carolina, Enterprise System Revenue Bonds, Series 2011:
|
|||||||||||
600
|
5.625%, 6/01/30 – AGC Insured
|
6/21 at 100.00
|
AA–
|
656,262
|
|||||||
2,100
|
5.750%, 6/01/36 – AGC Insured
|
6/21 at 100.00
|
AA–
|
2,272,431
|
|||||||
1,400
|
Onslow County, North Carolina, Combined Enterprise System Revenue Bonds, Series 2004B, 5.000%, 6/01/23 – SYNCORA GTY Insured
|
6/14 at 100.00
|
A+
|
1,430,058
|
Nuveen Investments
|
45
|
NNC
|
Nuveen North Carolina Premium Income Municipal Fund (continued)
|
Portfolio of Investments November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Water and Sewer (continued)
|
|||||||||||
Raleigh, North Carolina, Combined Enterprise System Revenue Bonds, Refunding Series 2012A:
|
|||||||||||
$
|
550
|
5.000%, 3/01/30
|
3/22 at 100.00
|
AAA
|
$
|
605,781
|
|||||
1,600
|
5.000%, 3/01/31
|
3/22 at 100.00
|
AAA
|
1,750,288
|
|||||||
5,000
|
Raleigh, North Carolina, Combined Enterprise System Revenue Bonds, Refunding Series 2013A, 5.000%, 3/01/28
|
3/23 at 100.00
|
AAA
|
5,629,750
|
|||||||
4,010
|
Raleigh, North Carolina, Combined Enterprise System Revenue Bonds, Series 2006A, 5.000%, 3/01/36
|
3/16 at 100.00
|
AAA
|
4,238,370
|
|||||||
1,000
|
Wilmington, North Carolina, Water and Sewer Revenue Bonds, Series 2005, 5.000%, 6/01/25 – AGM Insured
|
6/15 at 100.00
|
AA
|
1,060,130
|
|||||||
9,900
|
Winstom-Salem, North Carolina, Water and Sewer System Revenue Bonds, Series 2007A, 5.000%, 6/01/37 (UB)
|
6/17 at 100.00
|
AAA
|
10,373,220
|
|||||||
56,070
|
Total Water and Sewer
|
59,793,485
|
|||||||||
$
|
355,270
|
Total Long-Term Investments (cost $351,174,605)
|
353,394,622
|
||||||||
Floating Rate Obligations – (4.7)%
|
(10,740,000
|
) | |||||||||
MuniFund Term Preferred Shares, at Liquidation Value – (54.6)% (5)
|
(124,860,000
|
) | |||||||||
Other Assets Less Liabilities – 4.7%
|
10,738,697
|
||||||||||
Net Assets Applicable to Common Shares – 100%
|
$
|
228,533,319
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.
|
(2)
|
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.
|
(3)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
(4)
|
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.
|
(5)
|
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 35.3%
|
(ETM)
|
Escrowed to maturity.
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities for more information.
|
46
|
Nuveen Investments
|
NPV
|
|
Nuveen Virginia Premium Income Municipal Fund
|
|
Portfolio of Investments
|
|
November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
LONG-TERM INVESTMENTS – 153.3% (100.0% of Total Investments)
|
|||||||||||
MUNICIPAL BONDS – 153.3% (100.0% of Total Investments)
|
|||||||||||
Consumer Staples – 7.2% (4.7% of Total Investments)
|
|||||||||||
Guam Economic Development & Commerce Authority, Tobacco Settlement Asset-Backed Bonds, Series 2007A:
|
|||||||||||
$
|
855
|
5.250%, 6/01/32
|
6/17 at 100.00
|
B
|
$
|
726,622
|
|||||
700
|
5.625%, 6/01/47
|
6/17 at 100.00
|
B
|
530,747
|
|||||||
73,500
|
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Bonds, Series 2005A, 0.000%, 5/15/50
|
5/15 at 11.19
|
BB–
|
4,313,715
|
|||||||
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, Series 2002:
|
|||||||||||
2,885
|
5.375%, 5/15/33
|
2/14 at 100.00
|
BBB+
|
2,691,417
|
|||||||
325
|
5.500%, 5/15/39
|
2/14 at 100.00
|
BBB
|
283,745
|
|||||||
11,425
|
Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset Backed Bonds, Series 2007B1, 5.000%, 6/01/47
|
6/17 at 100.00
|
B2
|
7,376,322
|
|||||||
2,145
|
Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset-Backed Bonds, Series 2007B2, 5.200%, 6/01/46
|
6/17 at 100.00
|
B2
|
1,438,673
|
|||||||
91,835
|
Total Consumer Staples
|
17,361,241
|
|||||||||
Education and Civic Organizations – 8.6% (5.6% of Total Investments)
|
|||||||||||
1,615
|
Alexandria Industrial Development Authority, Virginia, Educational Facilities Revenue Bonds, Episcopal High School, Series 2012, 3.750%, 1/01/30
|
No Opt. Call
|
A1
|
1,471,782
|
|||||||
580
|
Amherst Industrial Development Authority, Virginia, Revenue Bonds, Sweet Briar College, Series 2006, 5.000%, 9/01/26
|
9/16 at 100.00
|
BBB
|
588,596
|
|||||||
1,000
|
Lexington Industrial Development Authority, Virginia, Educational Facilities Revenue Bonds, VMI Development Board Project, Series 2006C, 5.000%, 12/01/36
|
6/19 at 100.00
|
Aa2
|
1,052,000
|
|||||||
1,630
|
Prince William County Industrial Development Authority, Virginia, Student Housing Revenue Bonds, George Mason University Foundation Prince William Housing LLC Project, Series 2011A, 5.125%, 9/01/41
|
9/21 at 100.00
|
A
|
1,657,514
|
|||||||
1,720
|
Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Higher Education Revenue Refunding Bonds, Ana G. Mendez University System, Series 2002, 5.375%, 12/01/21
|
2/14 at 100.00
|
BBB–
|
1,500,700
|
|||||||
995
|
The Rector and Visitors of the University of Virginia, General Revenue Bonds, Series 2005, 5.000%, 6/01/37
|
6/15 at 100.00
|
AAA
|
1,038,163
|
|||||||
6,000
|
The Rector and Visitors of the University of Virginia, General Revenue Bonds, Series 2008, 5.000%, 6/01/40
|
6/18 at 100.00
|
AAA
|
6,401,759
|
|||||||
390
|
University of Puerto Rico, University System Revenue Bonds, Series 2006P, 5.000%, 6/01/14
|
No Opt. Call
|
BBB–
|
384,353
|
|||||||
3,600
|
Virginia College Building Authority, Educational Facilities Revenue Bonds, Public Higher Education Financing Program, Series 2009A, 5.000%, 9/01/28
|
9/18 at 100.00
|
Aa1
|
3,890,196
|
|||||||
500
|
Virginia College Building Authority, Educational Facilities Revenue Refunding Bonds, Marymount University, Series 1998, 5.100%, 7/01/18 – RAAI Insured
|
1/14 at 100.00
|
N/R
|
501,055
|
|||||||
1,635
|
Virginia Commonwealth University, Revenue Bonds, Series 2004A, 5.000%, 5/01/17 – AMBAC Insured
|
5/14 at 101.00
|
Aa2
|
1,683,412
|
|||||||
500
|
Virginia Small Business Finance Authority, Educational Facilities Revenue Bonds, Roanoke College, Series 2011, 5.750%, 4/01/41
|
4/20 at 100.00
|
A–
|
523,990
|
|||||||
20,165
|
Total Education and Civic Organizations
|
20,693,520
|
|||||||||
Health Care – 29.1% (18.9% of Total Investments)
|
|||||||||||
5,000
|
Arlington County Industrial Development Authority, Virginia, Hospital Revenue Bonds, Virginia Hospital Center Arlington Health System, Refunding Series 2010, 5.000%, 7/01/31
|
7/20 at 100.00
|
A1
|
5,088,200
|
Nuveen Investments
|
47
|
NPV
|
Nuveen Virginia Premium Income Municipal Fund (continued)
|
Portfolio of Investments November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Health Care (continued)
|
|||||||||||
Charlotte County Industrial Development Authority, Virginia, Hospital Revenue Bonds, Halifax Regional Hospital Incorporated, Series 2007:
|
|||||||||||
$
|
1,545
|
5.000%, 9/01/27
|
9/17 at 100.00
|
A
|
$
|
1,576,224
|
|||||
250
|
5.000%, 9/01/37
|
9/17 at 100.00
|
A
|
250,278
|
|||||||
2,145
|
Chesterfield County Economic Development Authority, Virginia, Revenue Bonds, Bon Secours Health, Series 2010C-2, 5.000%, 11/01/42 – AGC Insured
|
11/20 at 100.00
|
AA–
|
2,174,344
|
|||||||
3,375
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2013A, 5.250%, 1/01/40
|
1/23 at 100.00
|
A+
|
3,362,951
|
|||||||
3,340
|
Fairfax County Industrial Development Authority, Virginia, Healthcare Revenue Bonds, Inova Health System, Series 2009, Trust 11733, 15.186%, 11/15/29 (IF)
|
5/19 at 100.00
|
AA+
|
3,948,281
|
|||||||
1,000
|
Fairfax County Industrial Development Authority, Virginia, Healthcare Revenue Bonds, Inova Health System, Series 2012A, 5.000%, 5/15/40
|
5/22 at 100.00
|
AA+
|
1,018,630
|
|||||||
4,950
|
Fairfax County Industrial Development Authority, Virginia, Hospital Revenue Refunding Bonds, Inova Health System, Series 1993A, 5.000%, 8/15/23
|
No Opt. Call
|
AA+
|
5,695,371
|
|||||||
Fredericksburg Economic Development Authority, Virginia, Hospital Facilities Revenue Bonds, MediCorp Health System, Series 2007:
|
|||||||||||
1,080
|
5.250%, 6/15/18
|
No Opt. Call
|
Baa1
|
1,194,188
|
|||||||
2,500
|
5.250%, 6/15/23
|
No Opt. Call
|
Baa1
|
2,630,525
|
|||||||
2,480
|
Fredericksburg Industrial Development Authority, Virginia, Revenue Bonds, MediCorp Health System, Series 2002B, 5.125%, 6/15/33
|
2/14 at 100.00
|
Baa1
|
2,480,174
|
|||||||
680
|
Hanover County Industrial Development Authority, Virginia, Hospital Revenue Bonds, Memorial Regional Medical Center, Series 1995, 6.375%, 8/15/18 – NPFG Insured
|
No Opt. Call
|
A
|
748,027
|
|||||||
9,265
|
Harrisonburg Industrial Development Authority, Virginia, Hospital Facilities Revenue Bonds, Rockingham Memorial Hospital, Series 2006, 5.000%, 8/15/31 – AMBAC Insured
|
8/16 at 100.00
|
AA
|
9,469,196
|
|||||||
1,500
|
Henrico County Industrial Development Authority, Virginia, Healthcare Revenue Bonds, Bon Secours Health System, Series 1996, 6.250%, 8/15/20 – NPFG Insured
|
No Opt. Call
|
A
|
1,706,175
|
|||||||
3,155
|
Prince William County Industrial Development Authority, Virginia, Health Care Facilities Revenue Refunding Bonds, Novant Health Obligated Group-Prince William Hospital, Series 2013B, 5.000%, 11/01/46
|
11/22 at 100.00
|
AA–
|
3,102,312
|
|||||||
Stafford County Economic Development Authority, Virginia, Hospital Facilities Revenue Bonds, MediCorp Health System, Series 2006:
|
|||||||||||
2,000
|
5.250%, 6/15/25
|
6/16 at 100.00
|
Baa1
|
2,038,820
|
|||||||
2,000
|
5.250%, 6/15/26
|
6/16 at 100.00
|
Baa1
|
2,028,980
|
|||||||
2,025
|
5.250%, 6/15/31
|
6/16 at 100.00
|
Baa1
|
2,014,612
|
|||||||
7,395
|
5.250%, 6/15/37
|
6/16 at 100.00
|
Baa1
|
7,138,171
|
|||||||
2,550
|
Virginia Small Business Finance Authority, Healthcare Facilities Revenue Bonds, Sentara Healthcare, Refunding Series 2010, 5.000%, 11/01/40
|
5/20 at 100.00
|
AA
|
2,587,664
|
|||||||
4,425
|
Virginia Small Business Financing Authority, Wellmont Health System Project Revenue Bonds, Series 2007A, 5.250%, 9/01/37
|
9/17 at 100.00
|
BBB+
|
4,236,495
|
|||||||
1,620
|
Winchester Industrial Development Authority, Virginia, Hospital Revenue Bonds Valley Health System Obligated Group, Series 2009E, 5.625%, 1/01/44
|
1/19 at 100.00
|
A+
|
1,706,135
|
|||||||
2,855
|
Winchester Industrial Development Authority, Virginia, Hospital Revenue Bonds, Winchester Medical Center, Series 2007, 5.125%, 1/01/31
|
1/17 at 100.00
|
A+
|
2,912,414
|
|||||||
1,020
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc., Series 2010A, 5.625%, 4/15/39
|
4/20 at 100.00
|
A
|
1,035,749
|
|||||||
68,155
|
Total Health Care
|
70,143,916
|
|||||||||
Housing/Multifamily – 1.4% (0.9% of Total Investments)
|
|||||||||||
940
|
Arlington County Industrial Development Authority, Virginia, Multifamily Housing Mortgage Revenue Bonds, Arlington View Terrace Apartments, Series 2001, 5.150%, 11/01/31 (Mandatory put 11/01/19) (Alternative Minimum Tax)
|
1/14 at 100.00
|
AA
|
941,955
|
|||||||
400
|
Virginia Housing Development Authority, Rental Housing Bonds, Series 2010A, 5.000%, 4/01/45
|
10/19 at 100.00
|
AA+
|
404,208
|
|||||||
530
|
Virginia Housing Development Authority, Rental Housing Bonds, Series 2010C, 4.550%, 8/01/32
|
2/20 at 100.00
|
AA+
|
533,090
|
|||||||
1,430
|
Waynesboro Redevelopment and Housing Authority, Virginia, Multifamily Housing Revenue Bonds, Epworth Manor, GNMA Collateralized Series 2010, 5.000%, 10/20/51
|
4/20 at 100.00
|
AA+
|
1,442,384
|
|||||||
3,300
|
Total Housing/Multifamily
|
3,321,637
|
48
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Housing/Single Family – 7.0% (4.6% of Total Investments)
|
|||||||||||
$
|
2,740
|
Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2006, 4.800%, 7/01/29 (Alternative Minimum Tax)
|
7/15 at 100.00
|
AAA
|
$
|
2,749,645
|
|||||
7,900
|
Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2007B, 4.750%, 7/01/32 (Alternative Minimum Tax)
|
7/16 at 100.00
|
AAA
|
7,905,371
|
|||||||
Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2012C-5:
|
|||||||||||
2,500
|
4.550%, 7/01/31
|
10/22 at 100.00
|
AAA
|
2,533,675
|
|||||||
2,000
|
4.800%, 7/01/38
|
10/22 at 100.00
|
AAA
|
2,025,760
|
|||||||
Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2012C-8:
|
|||||||||||
715
|
4.400%, 10/01/31 (WI/DD, Settling 12/19/13)
|
10/22 at 100.00
|
AAA
|
719,126
|
|||||||
1,000
|
4.750%, 10/01/38 (WI/DD, Settling 12/19/13)
|
10/22 at 100.00
|
AAA
|
1,009,290
|
|||||||
16,855
|
Total Housing/Single Family
|
16,942,867
|
|||||||||
Long-Term Care – 9.1% (5.9% of Total Investments)
|
|||||||||||
2,000
|
Albemarle County Industrial Development Authority, Virginia, Residential Care Facilities Mortgage Revenue Bonds, Westminster-Cantebury of the Blue Ridge, Series 2007, 5.000%, 1/01/31
|
1/17 at 100.00
|
N/R
|
1,856,540
|
|||||||
1,000
|
Chesterfield County Health Center Commission, Virginia, Mortgage Revenue Bonds, Lucy Corr Village, Series 2005, 5.625%, 12/01/39
|
12/15 at 100.00
|
N/R
|
639,620
|
|||||||
5,585
|
Fairfax County Economic Development Authority, Virginia, Residential Care Facilities Mortgage Revenue Bonds, Goodwin House, Inc., Series 2007A, 5.125%, 10/01/37
|
10/17 at 100.00
|
BBB
|
5,576,958
|
|||||||
Fairfax County Economic Development Authority, Virginia, Retirement Center Revenue Bonds, Greenspring Village, Series 2006A:
|
|||||||||||
1,000
|
4.750%, 10/01/26
|
10/16 at 100.00
|
A
|
1,013,520
|
|||||||
800
|
4.875%, 10/01/36
|
10/16 at 100.00
|
A
|
791,256
|
|||||||
Henrico County Economic Development Authority, Virginia, Residential Care Facility Revenue Bonds, Westminster Canterbury of Richmond, Series 2006:
|
|||||||||||
100
|
5.000%, 10/01/27
|
10/17 at 100.00
|
BBB
|
101,115
|
|||||||
4,740
|
5.000%, 10/01/35
|
2/14 at 100.00
|
BBB
|
4,656,244
|
|||||||
3,590
|
Industrial Development Authority of the County of Prince William, Virginia, Residential Care Facility Revenue Bonds, Westminster at Lake, First Mortgage, Series 2006, 5.125%, 1/01/26
|
1/17 at 100.00
|
N/R
|
2,853,942
|
|||||||
1,000
|
Roanoke Economic Development Authority, Virgina, Residential Care Facility Mortgage Revenue Refunding Bonds, Virginia Lutheran Homes Brandon Oaks Project, Series 2012, 4.625%, 12/01/27
|
12/22 at 100.00
|
N/R
|
855,660
|
|||||||
1,500
|
Roanoke Industrial Development Authority, Virginia, Residential Revenue Bonds, Virginia Lutheran Homes Incorporated, Series 2006, 5.000%, 12/01/39
|
12/16 at 100.00
|
N/R
|
1,183,350
|
|||||||
1,000
|
Suffolk Industrial Development Authority, Virginia, Retirement Facilities First Mortgage Revenue Bonds, Lake Prince Center, Series 2006, 5.300%, 9/01/31
|
9/16 at 100.00
|
N/R
|
926,130
|
|||||||
1,000
|
Virginia Beach Development Authority, Virginia, Residential Care Facility Mortgage Revenue Bonds, Westminster Canterbury on Chesapeake Bay, Series 2005, 5.000%, 11/01/22
|
11/15 at 100.00
|
N/R
|
994,280
|
|||||||
500
|
Winchester Industrial Development Authority, Virginia, Residential Care Facility Revenue Bonds, Westminster-Canterbury of Winchester Inc., Series 2005A, 5.200%, 1/01/27
|
1/15 at 100.00
|
BBB+
|
501,735
|
|||||||
23,815
|
Total Long-Term Care
|
21,950,350
|
|||||||||
Tax Obligation/General – 12.4% (8.1% of Total Investments)
|
|||||||||||
1,440
|
Bristol, Virginia, General Obligation Bonds, Refunding & Improvement Series 2010, 5.000%, 7/15/25
|
7/20 at 100.00
|
Aa2
|
1,629,547
|
|||||||
3,000
|
Clark County School District, Nevada, General Obligation Bonds, Refunding Series 2011A, 5.000%, 6/15/14
|
No Opt. Call
|
AA–
|
3,079,380
|
|||||||
1,000
|
Loudoun County, Virginia, General Obligation Bonds, Public Improvement Series 2009A, 4.000%, 7/01/14
|
No Opt. Call
|
AAA
|
1,022,800
|
|||||||
1,645
|
Norfolk, Virginia, General Obligation Bonds, Refunding Capital Improvement Series 2013A, 2.000%, 8/01/14
|
No Opt. Call
|
AA+
|
1,665,530
|
|||||||
1,070
|
Norfolk, Virginia, General Obligation Bonds, Series 2005, 5.000%, 3/01/15 – NPFG Insured
|
No Opt. Call
|
AA+
|
1,134,072
|
|||||||
6,050
|
Portsmouth, Virginia, General Obligation Bonds, Refunding Series 2010D, 5.000%, 7/15/34
|
7/20 at 100.00
|
AA
|
6,306,581
|
|||||||
1,280
|
Portsmouth, Virginia, General Obligation Bonds, Series 2005A, 5.000%, 4/01/15 – NPFG Insured
|
No Opt. Call
|
AA
|
1,361,485
|
|||||||
610
|
Puerto Rico, General Obligation and Public Improvement Bonds, Series 1998, 6.000%, 7/01/15 – NPFG Insured
|
No Opt. Call
|
A
|
611,074
|
Nuveen Investments
|
49
|
NPV
|
Nuveen Virginia Premium Income Municipal Fund (continued)
|
Portfolio of Investments November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Tax Obligation/General (continued)
|
|||||||||||
$
|
560
|
Puerto Rico, General Obligation Bonds, Series 2004A, 5.000%, 7/01/15 – AGM Insured
|
7/14 at 100.00
|
AA–
|
$
|
562,285
|
|||||
1,535
|
Suffolk, Virginia, General Obligation Bonds, Series 2005, 5.000%, 12/01/15
|
No Opt. Call
|
AA+
|
1,678,430
|
|||||||
Virginia Beach, Virginia, General Obligation Bonds, Series 2008: | |||||||||||
4,500
|
5.000%, 10/01/26 (UB)
|
10/17 at 100.00
|
AAA
|
4,971,240
|
|||||||
4,500
|
5.000%, 10/01/27 (UB)
|
10/17 at 100.00
|
AAA
|
4,925,610
|
|||||||
1,000
|
Virginia State, General Obligation Bonds, Series 2004B, 5.000%, 6/01/14
|
No Opt. Call
|
AAA
|
1,024,660
|
|||||||
28,190
|
Total Tax Obligation/General
|
29,972,694
|
|||||||||
Tax Obligation/Limited – 30.8% (20.1% of Total Investments)
|
|||||||||||
154
|
Bell Creek Community Development Authority, Virginia, Special Assessment Bonds, Series 2003A, 6.750%, 3/01/22
|
3/14 at 100.00
|
N/R
|
154,437
|
|||||||
Buena Vista Public Recreational Facilities Authority, Virginia, Lease Revenue Bonds, Golf Course Project, Series 2005A:
|
|||||||||||
630
|
5.250%, 7/15/25 – ACA Insured
|
7/15 at 100.00
|
N/R
|
529,011
|
|||||||
520
|
5.500%, 7/15/35 – ACA Insured
|
7/15 at 100.00
|
N/R
|
399,381
|
|||||||
1,340
|
Culpeper Industrial Development Authority, Virginia, Lease Revenue Bonds, School Facilities Project, Series 2005, 5.000%, 1/01/20 – NPFG Insured
|
1/15 at 100.00
|
AA–
|
1,407,134
|
|||||||
1,135
|
Cumberland County, Virginia, Certificates of Participation, Series 1997, 6.375%, 7/15/17
|
No Opt. Call
|
N/R
|
1,248,863
|
|||||||
600
|
Dulles Town Center Community Development Authority, Loudon County, Virginia Special Assessment Refunding Bonds, Dulles Town Center Project, Series 2012, 4.250%, 3/01/26
|
No Opt. Call
|
N/R
|
537,690
|
|||||||
2,300
|
Fairfax County Economic Development Authority, Virginia, Lease Revenue Bonds, Joint Public Uses Community Project, Series 2006, 5.000%, 5/15/18
|
5/16 at 100.00
|
AA+
|
2,514,222
|
|||||||
4,000
|
Fairfax County Economic Development Authority, Virginia, Transportation District Improvement Revenue Bonds, Silver Line Phase 1 Project, Series 2011, 5.000%, 4/01/27
|
No Opt. Call
|
AA
|
4,324,120
|
|||||||
Government of Guam, Business Privilege Tax Bonds, Series 2011A:
|
|||||||||||
1,020
|
5.000%, 1/01/31
|
1/22 at 100.00
|
A
|
1,045,867
|
|||||||
500
|
5.250%, 1/01/36
|
1/22 at 100.00
|
A
|
503,905
|
|||||||
Greater Richmond Convention Center Authority, Virginia, Hotel Tax Revenue Bonds, Series 2005:
|
|||||||||||
2,480
|
5.000%, 6/15/15 – NPFG Insured
|
No Opt. Call
|
A+
|
2,647,623
|
|||||||
5,700
|
5.000%, 6/15/30 – NPFG Insured
|
6/15 at 100.00
|
A+
|
5,908,506
|
|||||||
1,270
|
James City County Economic Development Authority, Virginia, Lease Revenue Bonds, County Government Projects, Series 2005, 5.000%, 7/15/19
|
7/15 at 100.00
|
AA+
|
1,360,691
|
|||||||
890
|
Montgomery County Industrial Development Authority, Virginia, Public Facility Lease Revenue Bonds, Public Projects Series 2008, 5.000%, 2/01/29
|
2/18 at 100.00
|
AA–
|
926,446
|
|||||||
680
|
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2003G, 5.000%, 7/01/33
|
2/14 at 100.00
|
BBB
|
475,667
|
|||||||
645
|
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N, 5.500%, 7/01/29 – AMBAC Insured
|
No Opt. Call
|
Baa3
|
528,049
|
|||||||
955
|
Puerto Rico Highway and Transportation Authority, Subordinate Lien Highway Revenue Bonds, Series 1998, 5.000%, 7/01/28
|
7/14 at 100.00
|
BBB–
|
701,562
|
|||||||
Puerto Rico Highway and Transportation Authority, Subordinate Lien Highway Revenue Bonds, Series 2003:
|
|||||||||||
1,000
|
5.250%, 7/01/15 – FGIC Insured
|
2/14 at 100.00
|
BBB–
|
971,530
|
|||||||
1,500
|
5.250%, 7/01/17 – FGIC Insured
|
2/14 at 100.00
|
BBB–
|
1,352,625
|
|||||||
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A:
|
|||||||||||
5,085
|
0.000%, 7/01/29 – AMBAC Insured
|
No Opt. Call
|
BBB+
|
1,524,229
|
|||||||
5,000
|
0.000%, 7/01/43 – AMBAC Insured
|
No Opt. Call
|
BBB+
|
479,850
|
|||||||
5,875
|
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005C, 0.000%, 7/01/28 – AMBAC Insured
|
No Opt. Call
|
BBB+
|
1,902,501
|
|||||||
Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Refunding Bonds, Series 2002D:
|
|||||||||||
665
|
5.250%, 7/01/27
|
2/14 at 100.00
|
BBB–
|
486,687
|
|||||||
320
|
5.250%, 7/01/36
|
2/14 at 100.00
|
BBB–
|
224,093
|
|||||||
3,400
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 6.000%, 8/01/42
|
8/19 at 100.00
|
A+
|
2,744,820
|
50
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Tax Obligation/Limited (continued)
|
|||||||||||
$
|
2,705
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010A, 5.500%, 8/01/42
|
2/20 at 100.00
|
A+
|
$
|
2,057,937
|
|||||
3,195
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010C, 6.000%, 8/01/39
|
8/20 at 100.00
|
A+
|
2,596,640
|
|||||||
10,000
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%, 8/01/41 – NPFG Insured
|
No Opt. Call
|
AA–
|
1,550,800
|
|||||||
5
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA, 5.500%, 7/01/18 – NPFG Insured
|
No Opt. Call
|
A
|
4,808
|
|||||||
1,290
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2005BB, 5.250%, 7/01/22 – AGM Insured
|
No Opt. Call
|
AA–
|
1,252,642
|
|||||||
760
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2007CC, 5.500%, 7/01/28 – NPFG Insured
|
No Opt. Call
|
A
|
679,128
|
|||||||
2,490
|
Stafford County and Staunton Industrial Development Authority, Virginia, Revenue Bonds, Virginia Municipal League and Virginia Association of Counties Finance Program, Series 2006A, 5.000%, 8/01/23 – NPFG Insured
|
8/16 at 100.00
|
Baa1
|
2,582,454
|
|||||||
395
|
Stafford County and Staunton Industrial Development Authority, Virginia, Revenue Bonds, Virginia Municipal League and Virginia Association of Counties Finance Program, Series 2007C, 5.000%, 2/01/37 – SYNCORA GTY Insured
|
2/17 at 100.00
|
N/R
|
382,336
|
|||||||
5,000
|
Stafford County Economic Development Authority, Virginia, Public Project Lease Revenue Bonds, Series 2008, 5.000%, 4/01/33 – AGC Insured (UB)
|
4/18 at 100.00
|
AA
|
5,149,900
|
|||||||
1,550
|
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Series 2003, 5.000%, 10/01/31 – ACA Insured
|
10/14 at 100.00
|
BBB+
|
1,515,900
|
|||||||
3,000
|
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Senior Lien Series 2010A, 5.000%, 10/01/29
|
10/20 at 100.00
|
BBB
|
2,993,310
|
|||||||
1,000
|
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Series 2009B, 5.000%, 10/01/25
|
10/19 at 100.00
|
BBB
|
1,047,180
|
|||||||
1,950
|
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Subordinate Lien Series 2010B, 5.250%, 10/01/29
|
10/20 at 100.00
|
Baa2
|
1,965,444
|
|||||||
1,200
|
Virginia College Building Authority, Educational Facilities Revenue Bonds, 21st Century College Program, Series 2011A, 4.000%, 2/01/29
|
No Opt. Call
|
AA+
|
1,212,636
|
|||||||
1,665
|
Virginia College Building Authority, Educational Facilities Revenue Bonds, 21st Century College Program, Series 2009, Tender Option Bond Trust 09-3B, 13.050%, 2/01/27 (IF), (5)
|
2/19 at 100.00
|
AA+
|
2,158,939
|
|||||||
1,665
|
Virginia College Building Authority, Educational Facilities Revenue Bonds, 21st Century College Program, Series 2009, Tender Option Bond Trust 09-4B, 13.110%, 2/01/28 (IF), (5)
|
2/19 at 100.00
|
AA+
|
2,112,785
|
|||||||
500
|
Virginia Commonwealth Transportation Board, Federal Transportation Grant Anticipation Revenue Notes, Series 2012A, 5.000%, 9/15/14
|
No Opt. Call
|
Aa1
|
519,240
|
|||||||
2,000
|
Virginia Public Building Authority, Public Facilities Revenue Bonds, Series 2006, 5.000%, 8/01/15
|
No Opt. Call
|
AA+
|
2,157,780
|
|||||||
475
|
Virginia Public Building Authority, Public Facilities Revenue Bonds, Series 2008B, 5.000%, 8/01/14
|
No Opt. Call
|
AA+
|
490,566
|
|||||||
1,000
|
Virginia Public School Authority, School Financing Bonds, 1997 Resolution, Series 2007B, 5.000%, 8/01/14
|
No Opt. Call
|
AA+
|
1,032,630
|
|||||||
95
|
Virginia Resources Authority, Infrastructure Revenue Bonds, Prerefunded-Pooled Loan Bond Program, Series 2002A, 5.000%, 5/01/19
|
2/14 at 100.00
|
AA
|
95,377
|
|||||||
2,000
|
Virginia Transportation Board, Transportation Revenue Bonds, Northern Virginia Transportation District Program, Series 2012A, 5.000%, 5/15/14
|
No Opt. Call
|
AA+
|
2,045,000
|
|||||||
Virginia Transportation Board, Transportation Revenue Bonds, U.S. Route 58 Corridor Development Program, Series 2004B:
|
|||||||||||
2,000
|
5.000%, 5/15/15
|
5/14 at 100.00
|
AA+
|
2,046,080
|
|||||||
750
|
5.000%, 5/15/17
|
5/14 at 100.00
|
AA+
|
766,485
|
Nuveen Investments
|
51
|
NPV
|
Nuveen Virginia Premium Income Municipal Fund (continued)
|
Portfolio of Investments November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Tax Obligation/Limited (continued)
|
|||||||||||
$
|
1,000
|
Virginia Transportation Board, Transportation Revenue Bonds, U.S. Route 58 Corridor Development Program, Series 2006C, 5.000%, 5/15/23
|
No Opt. Call
|
AA+
|
$
|
1,099,150
|
|||||
95,354
|
Total Tax Obligation/Limited
|
74,414,656
|
|||||||||
Transportation – 20.8% (13.6% of Total Investments)
|
|||||||||||
1,000
|
Chesapeake Bay Bridge and Tunnel Commission, Virginia, General Resolution Revenue Refunding Bonds, Series 1998, 5.500%, 7/01/25 – NPFG Insured
|
No Opt. Call
|
A
|
1,109,570
|
|||||||
Chesapeake, Virginia, Transportation System Senior Toll Road Revenue Bonds, Capital Appreciation Series 2012B:
|
|||||||||||
2,000
|
0.000%, 7/15/32
|
7/28 at 100.00
|
BBB
|
1,012,700
|
|||||||
4,125
|
0.000%, 7/15/40
|
7/28 at 100.00
|
BBB
|
1,872,668
|
|||||||
Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Capital Appreciation Series 2009B-2:
|
|||||||||||
4,000
|
0.000%, 10/01/26 – AGC Insured
|
No Opt. Call
|
AA–
|
2,122,400
|
|||||||
11,825
|
0.000%, 10/01/34 – AGC Insured
|
No Opt. Call
|
AA–
|
3,534,493
|
|||||||
1,135
|
0.000%, 10/01/36 – AGC Insured
|
No Opt. Call
|
AA–
|
290,378
|
|||||||
5,010
|
0.000%, 10/01/39 – AGC Insured
|
No Opt. Call
|
AA–
|
1,042,982
|
|||||||
6,700
|
Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail Capital Appreciation, Series 2010B, 0.000%, 10/01/44
|
10/28 at 100.00
|
BBB+
|
5,186,537
|
|||||||
750
|
Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2010B, 5.000%, 10/01/26 (Alternative Minimum Tax)
|
10/20 at 100.00
|
AA–
|
793,185
|
|||||||
1,200
|
Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Series 2009C, 5.000%, 10/01/28
|
10/18 at 100.00
|
AA–
|
1,283,508
|
|||||||
Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Series 2010A:
|
|||||||||||
3,000
|
5.000%, 10/01/30
|
10/20 at 100.00
|
AA–
|
3,214,320
|
|||||||
420
|
5.000%, 10/01/35
|
10/20 at 100.00
|
AA–
|
436,733
|
|||||||
2,500
|
Metropolitan Washington D.C. Airports Authority, System Revenue Bonds, Series 2007B, 5.000%, 10/01/35 – AMBAC Insured (Alternative Minimum Tax)
|
10/17 at 100.00
|
AA–
|
2,518,925
|
|||||||
800
|
New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge Replacement Project, Series 2013, 5.000%, 1/01/31 – AGM Insured (Alternative Minimum Tax)
|
1/24 at 100.00
|
AA–
|
801,848
|
|||||||
3,000
|
Richmond Metropolitan Authority, Virginia, Revenue Refunding Bonds, Expressway System, Series 2002, 5.250%, 7/15/22 – FGIC Insured
|
No Opt. Call
|
A
|
3,374,370
|
|||||||
1,000
|
Route 460 Funding Corporation, Virginia, Toll Road Revenue Bonds, Series 2012A, 5.125%, 7/01/49
|
No Opt. Call
|
BBB–
|
925,560
|
|||||||
Route 460 Funding Corporation, Virginia, Toll Road Revenue Bonds, Series 2012B:
|
|||||||||||
1,000
|
0.000%, 7/01/28
|
No Opt. Call
|
BBB–
|
434,100
|
|||||||
2,000
|
0.000%, 7/01/30
|
No Opt. Call
|
BBB–
|
729,900
|
|||||||
15,285
|
0.000%, 7/01/45
|
No Opt. Call
|
BBB–
|
1,890,143
|
|||||||
3,195
|
Virginia Port Authority, Port Facilities Revenue Refunding Bonds Series 2010, 5.000%, 7/01/40
|
7/19 at 100.00
|
Aa3
|
3,269,859
|
|||||||
3,415
|
Virginia Port Authority, Revenue Bonds, Port Authority Facilities, Series 2006, 5.000%, 7/01/36 – FGIC Insured (Alternative Minimum Tax)
|
2/14 at 100.00
|
Aa3
|
3,378,391
|
|||||||
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River Crossing, Opco LLC Project, Series 2012:
|
|||||||||||
500
|
5.250%, 1/01/32 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB–
|
495,370
|
|||||||
5,000
|
6.000%, 1/01/37 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB–
|
5,165,550
|
|||||||
5,500
|
5.500%, 1/01/42 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB–
|
5,422,285
|
|||||||
84,360
|
Total Transportation
|
50,305,775
|
|||||||||
U.S. Guaranteed – 17.3% (11.3% of Total Investments) (4)
|
|||||||||||
1,750
|
Bristol, Virginia, General Obligation Utility System Revenue Bonds, Series 2002, 5.000%, 11/01/24 – AGM Insured (ETM)
|
No Opt. Call
|
AA– (4)
|
2,044,368
|
|||||||
1,000
|
Bristol, Virginia, Utility System Revenue Refunding Bonds, Series 2001, 5.000%, 7/15/21 – AGM Insured (ETM)
|
No Opt. Call
|
AA– (4)
|
1,167,170
|
|||||||
1,000
|
Capital Region Airport Commission, Virginia, Airport Revenue Bonds, Refunding Series 2005A, 5.000%, 7/01/18 (Pre-refunded 7/01/15) – AGM Insured
|
7/15 at 100.00
|
AA– (4)
|
1,074,690
|
52
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
U.S. Guaranteed (4) (continued)
|
|||||||||||
Dinwiddie County Industrial Development Authority, Virginia, Lease Revenue Bonds, Refunding Series 2004B:
|
|||||||||||
$
|
1,000
|
5.125%, 2/15/16 (Pre-refunded 2/15/14) – NPFG Insured
|
2/14 at 100.00
|
A+ (4)
|
$
|
1,010,060
|
|||||
750
|
5.000%, 2/15/24 (Pre-refunded 2/15/14) – NPFG Insured
|
2/14 at 100.00
|
A+ (4)
|
757,343
|
|||||||
1,660
|
Front Royal and Warren County Industrial Development Authority, Virginia, Lease Revenue Bonds, Series 2004B, 5.000%, 4/01/18 (Pre-refunded 4/01/14) – AGM Insured
|
4/14 at 100.00
|
AA– (4)
|
1,687,440
|
|||||||
1,000
|
Loudoun County Sanitation Authority, Virginia, Water and Sewerage System Revenue Bonds, Series 2004, 5.000%, 1/01/26 (Pre-refunded 1/01/15)
|
1/15 at 100.00
|
AAA
|
1,052,350
|
|||||||
1,700
|
Loudoun County, Virginia, General Obligation Bonds, Series 2006B, 5.000%, 12/01/25 (Pre-refunded 12/01/16)
|
12/16 at 100.00
|
AAA
|
1,927,732
|
|||||||
500
|
Loudoun County, Virginia, General Obligation Public Improvement Bonds, Series 2005B, 5.000%, 6/01/18 (Pre-refunded 6/01/15)
|
6/15 at 100.00
|
AAA
|
535,720
|
|||||||
1,185
|
Lynchburg, Virginia, General Obligation Bonds, Series 2004, 5.000%, 6/01/21 (Pre-refunded 6/01/14)
|
6/14 at 100.00
|
AA+ (4)
|
1,214,033
|
|||||||
1,000
|
Newport News, Virginia, General Obligation Bonds, Series 2004A, 5.000%, 7/15/17 (Pre-refunded 7/15/14)
|
7/14 at 101.00
|
Aa1 (4)
|
1,040,210
|
|||||||
2,145
|
Newport News, Virginia, General Obligation Bonds, Series 2004C, 5.000%, 5/01/16 (Pre-refunded 5/01/14)
|
5/14 at 101.00
|
Aa1 (4)
|
2,210,187
|
|||||||
3,000
|
Norfolk, Virginia, Parking System Revenue Bonds, Series 2005A, 5.000%, 2/01/23 (Pre-refunded 2/01/15) – NPFG Insured
|
2/15 at 100.00
|
A (4)
|
3,167,520
|
|||||||
580
|
Prince William County, Virginia, Certificates of Participation, County Facilities, Series 2005, 5.000%, 6/01/20 (Pre-refunded 6/01/15) – AMBAC Insured
|
6/15 at 100.00
|
Aa1 (4)
|
621,342
|
|||||||
145
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA, 5.500%, 7/01/18 – NPFG Insured (ETM)
|
No Opt. Call
|
Baa1 (4)
|
173,838
|
|||||||
710
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2005BB, 5.250%, 7/01/22 – AGM Insured (ETM)
|
No Opt. Call
|
A2 (4)
|
866,839
|
|||||||
1,480
|
Richmond, Virginia, General Obligation Bonds, Series 2004A, 5.000%, 7/15/21 (Pre-refunded 7/15/14) – AGM Insured
|
7/14 at 100.00
|
AA+ (4)
|
1,524,726
|
|||||||
620
|
Richmond, Virginia, General Obligation Bonds, Series 2005A, 5.000%, 7/15/17 (Pre-refunded 7/15/15) – AGM Insured
|
7/15 at 100.00
|
AA+ (4)
|
667,715
|
|||||||
710
|
Stafford County and Staunton Industrial Development Authority, Virginia, Revenue Bonds, Virginia Municipal League and Virginia Association of Counties Finance Program, Series 2006A, 5.000%, 8/01/23 (Pre-refunded 8/01/16) – NPFG Insured
|
8/16 at 100.00
|
Baa1 (4)
|
793,752
|
|||||||
105
|
Stafford County and Staunton Industrial Development Authority, Virginia, Revenue Bonds, Virginia Municipal League and Virginia Association of Counties Finance Program, Series 2007C, 5.000%, 2/01/37 (Pre-refunded 2/01/17) – SYNCORA GTY Insured
|
2/17 at 100.00
|
N/R (4)
|
119,452
|
|||||||
1,000
|
Staunton, Virginia, General Obligation Bonds, Series 2004, 6.250%, 2/01/25 (Pre-refunded 2/01/14) – AMBAC Insured
|
2/14 at 101.00
|
Aa2 (4)
|
1,020,580
|
|||||||
2,135
|
The Rector and Visitors of the University of Virginia, General Revenue Bonds, Series 2005, 5.000%, 6/01/37 (Pre-refunded 6/01/15)
|
6/15 at 100.00
|
N/R (4)
|
2,286,521
|
|||||||
Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset-Backed Bonds, Series 2005:
|
|||||||||||
5,065
|
5.500%, 6/01/26 (Pre-refunded 6/01/15)
|
6/15 at 100.00
|
Aaa
|
5,344,284
|
|||||||
1,860
|
5.625%, 6/01/37 (Pre-refunded 6/01/15)
|
6/15 at 100.00
|
Aaa
|
2,009,451
|
|||||||
2,295
|
Virginia Beach Development Authority, Public Facilities Revenue Bonds, Series 2005A, 5.000%, 5/01/22 (Pre-refunded 5/01/15)
|
5/15 at 100.00
|
AA+ (4)
|
2,450,303
|
|||||||
2,100
|
Virginia Beach, Virginia, General Obligation Bonds, Series 2005, 5.000%, 1/15/20 (Pre-refunded 1/15/16)
|
1/16 at 100.00
|
AAA
|
2,302,545
|
|||||||
2,540
|
Virginia Public School Authority, School Financing Bonds, 1997 Resolution, Series 2005C, 5.000%, 8/01/17 (Pre-refunded 8/01/15)
|
8/15 at 100.00
|
AA+ (4)
|
2,740,609
|
|||||||
39,035
|
Total U.S. Guaranteed
|
41,810,780
|
|||||||||
Utilities – 2.0% (1.3% of Total Investments)
|
|||||||||||
395
|
Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/34
|
10/22 at 100.00
|
BBB
|
383,035
|
Nuveen Investments
|
53
|
NPV
|
Nuveen Virginia Premium Income Municipal Fund (continued)
|
Portfolio of Investments November 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
||||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||||
Utilities (continued)
|
|||||||||||
$
|
655
|
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2007UU, 5.000%, 7/01/19 – NPFG Insured
|
No Opt. Call
|
A
|
$
|
610,106
|
|||||
730
|
Virgin Islands Water and Power Authority, Electric System Revenue Bonds, Refunding Series 2007A, 5.000%, 7/01/24
|
7/17 at 100.00
|
BB+
|
682,039
|
|||||||
3,000
|
Wisconsin Public Power Incorporated System, Power Supply System Revenue Bonds, Series 2005A, 5.000%, 7/01/35 – AMBAC Insured
|
7/15 at 100.00
|
AA+
|
3,089,310
|
|||||||
4,780
|
Total Utilities
|
4,764,490
|
|||||||||
Water and Sewer – 7.6% (5.0% of Total Investments)
|
|||||||||||
1,000
|
Fairfax County, Virginia, Sewerage Revenue Bonds, Series 2004, 5.000%, 7/15/27
|
No Opt. Call
|
AAA
|
1,022,690
|
|||||||
810
|
Guam Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2013, 5.500%, 7/01/43 (WI/DD, Settling 12/12/13)
|
7/23 at 100.00
|
Ba1
|
791,338
|
|||||||
4,000
|
Hampton Roads Sanitation District, Virginia, Wastewater Revenue Bonds, Series 2012A, 5.000%, 1/01/39
|
No Opt. Call
|
AAA
|
4,206,800
|
|||||||
Henry County Public Service Authority, Virginia, Water and Sewerage Revenue Refunding Bonds, Series 2001:
|
|||||||||||
1,265
|
5.500%, 11/15/17 – AGM Insured
|
No Opt. Call
|
AA–
|
1,435,889
|
|||||||
3,000
|
5.500%, 11/15/19 – AGM Insured
|
No Opt. Call
|
AA–
|
3,500,610
|
|||||||
3,300
|
Virginia Beach, Virginia, Water and Sewer System Revenue Bonds, Series 2005, 5.000%, 10/01/30
|
10/15 at 100.00
|
AAA
|
3,469,059
|
|||||||
1,000
|
Virginia Resources Authority, Water and Sewerage System Revenue Bonds, Goochland County – Tuckahoe Creek Service District Project, Series 2012, 0.000%, 11/01/34
|
11/22 at 63.13
|
AA
|
364,620
|
|||||||
3,050
|
Virginia State Resources Authority, Clean Water Revenue Bonds, Series 2007, Trust 3036, 13.377%, 10/01/15 (IF)
|
No Opt. Call
|
AAA
|
3,557,886
|
|||||||
17,425
|
Total Water and Sewer
|
18,348,892
|
|||||||||
$
|
493,269
|
Total Long-Term Investments (cost $374,777,243)
|
370,030,818
|
||||||||
Floating Rate Obligations – (3.8)%
|
(9,250,000
|
) | |||||||||
Variable Rate Demand Preferred Shares, at Liquidation Value – (53.0)% (6)
|
(128,000,000
|
) | |||||||||
Other Assets Less Liabilities – 3.5%
|
8,603,346
|
||||||||||
Net Assets Applicable to Common Shares – 100%
|
$
|
241,384,164
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.
|
(2)
|
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.
|
(3)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
(4)
|
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.
|
(5)
|
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.
|
(6)
|
Variable Rate Demand Preferred Shares, at Liquidation Value as a percentage of Total Investments is 34.6%.
|
WI/DD
|
Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.
|
(ETM)
|
Escrowed to maturity.
|
(IF)
|
Inverse floating rate investment.
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities for more information.
|
54
|
Nuveen Investments
|
Statement of
|
|
Assets and Liabilities
|
|
November 30, 2013 (Unaudited)
|
North
|
||||||||||||||||
Georgia
|
Maryland
|
Missouri
|
Carolina
|
Virginia
|
||||||||||||
Dividend
|
Premium
|
Premium
|
Premium
|
Premium
|
||||||||||||
Advantage 2
|
Income
|
Income
|
Income
|
Income
|
||||||||||||
(NKG
|
)
|
(NMY
|
)
|
(NOM
|
)
|
(NNC
|
)
|
(NPV
|
)
|
|||||||
Assets
|
||||||||||||||||
Investments, at value (cost $210,582,832, $500,463,746, $50,327,044, $351,174,605 and $374,777,243, respectively)
|
$
|
213,038,656
|
$
|
504,265,613
|
$
|
50,915,679
|
$
|
353,394,622
|
$
|
370,030,818
|
||||||
Cash
|
2,631,717
|
11,373,869
|
21,001
|
—
|
5,130,062
|
|||||||||||
Receivable for:
|
||||||||||||||||
Interest
|
3,336,340
|
8,683,071
|
691,806
|
6,035,527
|
5,642,775
|
|||||||||||
Investments sold
|
—
|
4,990,684
|
195,000
|
6,605,000
|
1,185,000
|
|||||||||||
Deferred offering costs
|
465,975
|
1,107,503
|
175,205
|
744,715
|
307,374
|
|||||||||||
Other assets
|
2,720
|
13,685
|
1,431
|
10,931
|
246,084
|
|||||||||||
Total assets
|
219,475,408
|
530,434,425
|
52,000,122
|
366,790,795
|
382,542,113
|
|||||||||||
Liabilities
|
||||||||||||||||
Cash overdraft
|
—
|
—
|
—
|
1,212,698
|
—
|
|||||||||||
Floating rate obligations
|
3,245,000
|
21,995,000
|
2,225,000
|
10,740,000
|
9,250,000
|
|||||||||||
Payable for:
|
||||||||||||||||
Common share dividends
|
542,403
|
1,292,830
|
134,445
|
808,057
|
995,160
|
|||||||||||
Interest
|
165,525
|
374,961
|
31,289
|
272,733
|
24
|
|||||||||||
Investments purchased
|
—
|
4,604,162
|
746,482
|
—
|
2,510,461
|
|||||||||||
MuniFund Term Preferred (MTP) Shares, at liquidation value
|
74,945,000
|
166,144,000
|
17,880,000
|
124,860,000
|
—
|
|||||||||||
Variable Rate Demand Preferred (VRDP) Shares,at liquidation value
|
—
|
—
|
—
|
—
|
128,000,000
|
|||||||||||
Accrued expenses:
|
||||||||||||||||
Management fees
|
111,335
|
256,868
|
24,842
|
177,598
|
190,617
|
|||||||||||
Trustees fees
|
864
|
7,340
|
196
|
5,189
|
5,481
|
|||||||||||
Other
|
136,141
|
120,253
|
22,108
|
181,201
|
206,206
|
|||||||||||
Total liabilities
|
79,146,268
|
194,795,414
|
21,064,362
|
138,257,476
|
141,157,949
|
|||||||||||
Net assets applicable to common shares
|
$
|
140,329,140
|
$
|
335,639,011
|
$
|
30,935,760
|
$
|
228,533,319
|
$
|
241,384,164
|
||||||
Common shares outstanding
|
10,548,790
|
24,104,666
|
2,329,418
|
16,548,509
|
17,933,251
|
|||||||||||
Net asset value per common share outstanding (net assets applicable to common shares, divided by common shares outstanding)
|
$
|
13.30
|
$
|
13.92
|
$
|
13.28
|
$
|
13.81
|
$
|
13.46
|
||||||
Net assets applicable to common shares consist of:
|
||||||||||||||||
Common shares, $.01 par value per share
|
$
|
105,488
|
$
|
241,047
|
$
|
23,294
|
$
|
165,485
|
$
|
179,333
|
||||||
Paid-in surplus
|
143,031,830
|
339,756,682
|
30,952,946
|
226,687,133
|
251,823,527
|
|||||||||||
Undistributed (Over-distribution of) net investment income
|
(34,756
|
)
|
1,939,542
|
231,422
|
(436,047
|
)
|
474,516
|
|||||||||
Accumulated net realized gain (loss)
|
(5,229,246
|
)
|
(10,100,127
|
)
|
(860,537
|
)
|
(103,269
|
)
|
(6,346,787
|
)
|
||||||
Net unrealized appreciation (depreciation)
|
2,455,824
|
3,801,867
|
588,635
|
2,220,017
|
(4,746,425
|
)
|
||||||||||
Net assets applicable to common shares
|
$
|
140,329,140
|
$
|
335,639,011
|
$
|
30,935,760
|
$
|
228,533,319
|
$
|
241,384,164
|
||||||
Authorized shares:
|
||||||||||||||||
Common
|
Unlimited
|
Unlimited
|
Unlimited
|
Unlimited
|
Unlimited
|
|||||||||||
Preferred
|
Unlimited
|
Unlimited
|
Unlimited
|
Unlimited
|
Unlimited
|
Nuveen Investments
|
55
|
Statement of
|
|
Operations
|
|
Six Months Ended November 30, 2013 (Unaudited)
|
Georgia
Dividend
Advantage 2
(NKG)
|
Maryland
Premium
Income
(NMY)
|
Missouri
Premium
Income
(NOM)
|
North
Carolina
Premium
Income
(NNC)
|
Virginia
Premium
Income
(NPV)
|
||||||||||||
Investment Income
|
$
|
5,149,093
|
$
|
12,408,721
|
$
|
1,198,446
|
$
|
7,857,452
|
$
|
9,246,017
|
||||||
Expenses
|
||||||||||||||||
Management fees
|
681,260
|
1,587,995
|
152,007
|
1,085,697
|
1,178,933
|
|||||||||||
Shareholder servicing agent fees and expenses
|
26,327
|
45,102
|
9,635
|
37,854
|
32,955
|
|||||||||||
Interest expense and amortization of offering costs
|
1,191,650
|
2,705,210
|
240,586
|
1,974,217
|
1,808,800
|
|||||||||||
Liquidity fees
|
—
|
—
|
—
|
—
|
306,365
|
|||||||||||
Remarketing fees
|
—
|
—
|
—
|
—
|
33,423
|
|||||||||||
Custodian fees and expenses
|
18,263
|
46,952
|
8,089
|
30,204
|
35,441
|
|||||||||||
Trustees fees and expenses
|
3,148
|
7,470
|
716
|
5,190
|
5,567
|
|||||||||||
Professional fees
|
20,411
|
14,933
|
11,122
|
23,021
|
19,971
|
|||||||||||
Shareholder reporting expenses
|
26,683
|
14,818
|
6,791
|
69,320
|
10,651
|
|||||||||||
Stock exchange listing fees
|
15,894
|
17,443
|
5,771
|
37,288
|
12,446
|
|||||||||||
Investor relations expenses
|
12,629
|
17,139
|
3,063
|
15,348
|
10,160
|
|||||||||||
Other expenses
|
21,260
|
20,115
|
9,701
|
29,872
|
10,754
|
|||||||||||
Total expenses
|
2,017,525
|
4,477,177
|
447,481
|
3,308,011
|
3,465,466
|
|||||||||||
Net investment income (loss)
|
3,131,568
|
7,931,544
|
750,965
|
4,549,441
|
5,780,551
|
|||||||||||
Realized and Unrealized Gain (Loss)
|
||||||||||||||||
Net realized gain (loss) from investments
|
(1,752,958
|
)
|
(6,789,906
|
)
|
(691,173
|
)
|
642,241
|
(6,528,765
|
)
|
|||||||
Change in net unrealized appreciation (depreciation)of investments
|
(11,495,760
|
)
|
(32,637,699
|
)
|
(2,308,390
|
)
|
(20,264,821
|
)
|
(27,330,800
|
)
|
||||||
Net realized and unrealized gain (loss)
|
(13,248,718
|
)
|
(39,427,605
|
)
|
(2,999,563
|
)
|
(19,622,580
|
)
|
(33,859,565
|
)
|
||||||
Net increase (decrease) in net assets applicable to common shares from operations
|
$
|
(10,117,150
|
)
|
$
|
(31,496,061
|
)
|
$
|
(2,248,598
|
)
|
$
|
(15,073,139
|
)
|
$
|
(28,079,014
|
)
|
56
|
Nuveen Investments
|
Statement of
|
|
Changes in Net Assets (Unaudited)
|
Georgia Dividend Advantage 2 (NKG)
|
Maryland Premium Income (NMY)
|
Missouri Premium Income (NOM)
|
|||||||||||||||||
Six Months
Ended
11/30/13
|
Year
Ended
5/31/13
|
Six Months
Ended
11/30/13
|
Year
Ended
5/31/13
|
Six Months
Ended
11/30/13
|
Year
Ended
5/31/13
|
||||||||||||||
Operations
|
|||||||||||||||||||
Net investment income (loss)
|
$
|
3,131,568
|
$
|
6,020,509
|
$
|
7,931,544
|
$
|
14,021,037
|
$
|
750,965
|
$
|
1,530,798
|
|||||||
Net realized gain (loss) from investments
|
(1,752,958
|
)
|
226,296
|
(6,789,906
|
)
|
268,979
|
(691,173
|
)
|
14,851
|
||||||||||
Change in net unrealized appreciation (depreciation) of investments
|
(11,495,760
|
)
|
(747,566
|
)
|
(32,637,699
|
)
|
(2,621,007
|
)
|
(2,308,390
|
)
|
131,347
|
||||||||
Net increase (decrease) in net assets applicable to common shares from operations
|
(10,117,150
|
)
|
5,499,239
|
(31,496,061
|
)
|
11,669,009
|
(2,248,598
|
)
|
1,676,996
|
||||||||||
Distributions to Common Shareholders
|
|||||||||||||||||||
From net investment income
|
(3,386,162
|
)
|
(6,448,188
|
)
|
(8,026,853
|
)
|
(15,597,256
|
)
|
(852,276
|
)
|
(1,702,603
|
)
|
|||||||
From accumulated net realized gains
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||
Decrease in net assets applicable to common shares from distributions to common shareholders
|
(3,386,162
|
)
|
(6,448,188
|
)
|
(8,026,853
|
)
|
(15,597,256
|
)
|
(852,276
|
)
|
(1,702,603
|
)
|
|||||||
Capital Share Transactions
|
|||||||||||||||||||
Common shares:
|
|||||||||||||||||||
Issued in the Reorganizations
|
—
|
87,714,734
|
—
|
211,807,271
|
—
|
—
|
|||||||||||||
Net proceeds from shares issued to shareholders due to reinvestment of distributions
|
—
|
27,755
|
—
|
75,351
|
26,106
|
57,168
|
|||||||||||||
Net increase (decrease) in net assets applicable to common shares from capital share transactions
|
—
|
87,742,489
|
—
|
211,882,622
|
26,106
|
57,168
|
|||||||||||||
Net increase (decrease) in net assets applicable to common shares
|
(13,503,312
|
)
|
86,793,540
|
(39,522,914
|
)
|
207,954,375
|
(3,074,768
|
)
|
31,561
|
||||||||||
Net assets applicable to common shares at the beginning of period
|
153,832,452
|
67,038,912
|
375,161,925
|
167,207,550
|
34,010,528
|
33,978,967
|
|||||||||||||
Net assets applicable to common shares at the end of period
|
$
|
140,329,140
|
$
|
153,832,452
|
$
|
335,639,011
|
$
|
375,161,925
|
$
|
30,935,760
|
$
|
34,010,528
|
|||||||
Undistributed (Over-distribution of)net investment income at the end of period
|
$
|
(34,756
|
)
|
$
|
219,838
|
$
|
1,939,542
|
$
|
2,034,851
|
$
|
231,422
|
$
|
332,733
|
Nuveen Investments
|
57
|
North Carolina Premium Income (NNC)
|
Virginia Premium Income (NPV)
|
||||||||||||
Six Months
Ended
11/30/13
|
Year
Ended
5/31/13
|
Six Months
Ended
11/30/13
|
Year
Ended
5/31/13
|
||||||||||
Operations
|
|||||||||||||
Net investment income (loss)
|
$
|
4,549,441
|
$
|
9,239,191
|
$
|
5,780,551
|
$
|
10,697,104
|
|||||
Net realized gain (loss) from investments
|
642,241
|
327,862
|
(6,528,765
|
)
|
443,695
|
||||||||
Change in net unrealized appreciation (depreciation) of investments
|
(20,264,821
|
)
|
(3,568,579
|
)
|
(27,330,800
|
)
|
(4,173,812
|
)
|
|||||
Net increase (decrease) in net assets applicable to common shares from operations
|
(15,073,139
|
)
|
5,998,474
|
(28,079,014
|
)
|
6,966,987
|
|||||||
Distributions to Common Shareholders
|
|||||||||||||
From net investment income
|
(4,994,340
|
)
|
(10,348,434
|
)
|
(6,402,169
|
)
|
(11,424,132
|
)
|
|||||
From accumulated net realized gains
|
—
|
—
|
—
|
(302,943
|
)
|
||||||||
Decrease in net assets applicable to common shares from distributions to common shareholders
|
(4,994,340
|
)
|
(10,348,434
|
)
|
(6,402,169
|
)
|
(11,727,075
|
)
|
|||||
Capital Share Transactions
|
|||||||||||||
Common shares:
|
|||||||||||||
Issued in the Reorganizations
|
—
|
155,423,952
|
—
|
139,077,537
|
|||||||||
Net proceeds from shares issued to shareholders due to reinvestment of distributions
|
—
|
29,851
|
—
|
449,003
|
|||||||||
Net increase (decrease) in net assets applicable to common shares from capital share transactions
|
—
|
155,453,803
|
—
|
139,526,540
|
|||||||||
Net increase (decrease) in net assets applicable to common shares
|
(20,067,479
|
)
|
151,103,843
|
(34,481,183
|
)
|
134,766,452
|
|||||||
Net assets applicable to common shares at the beginning of period
|
248,600,798
|
97,496,955
|
275,865,347
|
141,098,895
|
|||||||||
Net assets applicable to common shares at the end of period
|
$
|
228,533,319
|
$
|
248,600,798
|
$
|
241,384,164
|
$
|
275,865,347
|
|||||
Undistributed (Over-distribution of)net investment income at the end of period
|
$
|
(436,047
|
)
|
$
|
8,852
|
$
|
474,516
|
$
|
1,096,134
|
58
|
Nuveen Investments
|
Statement of
|
|
Cash Flows
|
|
Six Months Ended November 30, 2013 (Unaudited)
|
Georgia
|
Maryland
|
Missouri
|
||||||||
Dividend
|
Premium
|
Premium
|
||||||||
Advantage 2
|
Income
|
Income
|
||||||||
(NKG
|
)
|
(NMY
|
)
|
(NOM
|
)
|
|||||
Cash Flows from Operating Activities:
|
||||||||||
Net Increase (Decrease) in Net Assets Applicable to Common Shares from Operations
|
$
|
(10,117,150
|
)
|
$
|
(31,496,061
|
)
|
$
|
(2,248,598
|
)
|
|
Adjustments to reconcile the net increase (decrease) in net assets applicable to common shares from operations to net cash provided by (used in) operating activities:
|
||||||||||
Purchases of investments
|
(17,363,708
|
)
|
(64,252,927
|
)
|
(8,461,521
|
)
|
||||
Proceeds from sales and maturities of investments
|
18,717,947
|
77,383,441
|
6,914,756
|
|||||||
Amortization (Accretion) of premiums and discounts, net
|
260,427
|
646,751
|
47,041
|
|||||||
(Increase) Decrease in:
|
||||||||||
Receivable for interest
|
(85,371
|
)
|
370,076
|
52,460
|
||||||
Receivable for investments sold
|
10,000
|
(4,285,684
|
)
|
572,500
|
||||||
Other assets
|
16,197
|
47,769
|
7,650
|
|||||||
Increase (Decrease) in:
|
||||||||||
Payable for interest
|
14
|
(5
|
)
|
(1
|
)
|
|||||
Payable for investments purchased
|
—
|
3,503,752
|
(743,776
|
)
|
||||||
Accrued management fees
|
(11,274
|
)
|
(27,968
|
)
|
(2,613
|
)
|
||||
Accrued Trustees fees
|
46
|
2,370
|
12
|
|||||||
Accrued other expenses
|
(20,045
|
)
|
(126,990
|
)
|
(20,788
|
)
|
||||
Net realized (gain) loss from investments
|
1,752,958
|
6,789,906
|
691,173
|
|||||||
Change in net unrealized (appreciation) depreciation of investments
|
11,495,760
|
32,637,699
|
2,308,390
|
|||||||
Taxes paid on undistributed capital gains
|
—
|
(618
|
)
|
—
|
||||||
Net cash provided by (used in) operating activities
|
4,655,801
|
21,191,511
|
(883,315
|
)
|
||||||
Cash Flows from Financing Activities:
|
||||||||||
(Increase) Decrease in deferred offering costs
|
191,617
|
653,707
|
120,504
|
|||||||
Increase (Decrease) in:
|
||||||||||
Cash overdraft
|
—
|
(2,054,404
|
)
|
—
|
||||||
Floating rate obligations
|
—
|
—
|
—
|
|||||||
Payable for offering costs
|
—
|
(276,836
|
)
|
(70,439
|
)
|
|||||
MTP Shares, at liquidation value
|
—
|
—
|
—
|
|||||||
VRDP Shares, at liquidation value
|
—
|
—
|
—
|
|||||||
Cash distributions paid to common shareholders
|
(3,391,234
|
)
|
(8,140,109
|
)
|
(825,606
|
)
|
||||
Net cash provided by (used in) financing activities
|
(3,199,617
|
)
|
(9,817,642
|
)
|
(775,541
|
)
|
||||
Net Increase (Decrease) in Cash
|
1,456,184
|
11,373,869
|
(1,658,856
|
)
|
||||||
Cash at the beginning of period
|
1,175,533
|
—
|
1,679,857
|
|||||||
Cash at the End of Period
|
$
|
2,631,717
|
$
|
11,373,869
|
$
|
21,001
|
||||
Supplemental Disclosure of Cash Flow Information
|
Georgia
|
Maryland
|
Missouri
|
||||||||
Dividend
|
Premium
|
Premium
|
||||||||
Advantage 2
|
Income
|
Income
|
||||||||
(NKG
|
)
|
(NMY
|
)
|
(NOM
|
)
|
|||||
Cash paid for interest (excluding amortization of offering costs)
|
$
|
1,000,019
|
$
|
2,328,344
|
$
|
190,522
|
||||
Non-cash financing activities not included herein consists of reinvestments of common share distributions
|
—
|
—
|
26,106
|
Nuveen Investments
|
59
|
North
|
|||||||
Carolina
|
Virginia
|
||||||
Premium
|
Premium
|
||||||
Income
|
Income
|
||||||
(NNC
|
)
|
(NPV
|
)
|
||||
Cash Flows from Operating Activities:
|
|||||||
Net Increase (Decrease) in Net Assets Applicable to Common Shares from Operations
|
$
|
(15,073,139
|
)
|
$
|
(28,079,014
|
)
|
|
Adjustments to reconcile the net increase (decrease) in net assets applicable to common shares from operations to net cash provided by (used in) operating activities:
|
|||||||
Purchases of investments
|
(46,064,042
|
)
|
(47,005,203
|
)
|
|||
Proceeds from sales and maturities of investments
|
58,777,531
|
49,341,209
|
|||||
Amortization (Accretion) of premiums and discounts, net
|
99,263
|
69,281
|
|||||
(Increase) Decrease in:
|
|||||||
Receivable for interest
|
12,742
|
546,166
|
|||||
Receivable for investments sold
|
12,665,163
|
13,528,333
|
|||||
Other assets
|
41,204
|
(203,071
|
)
|
||||
Increase (Decrease) in:
|
|||||||
Payable for interest
|
(4
|
)
|
(279,861
|
)
|
|||
Payable for investments purchased
|
(13,824,593
|
)
|
(5,360,034
|
)
|
|||
Accrued management fees
|
(17,065
|
)
|
(24,158
|
)
|
|||
Accrued Trustees fees
|
1,652
|
1,752
|
|||||
Accrued other expenses
|
31,566
|
26,036
|
|||||
Net realized (gain) loss from investments
|
(642,241
|
)
|
6,528,765
|
||||
Change in net unrealized (appreciation) depreciation of investments
|
20,264,821
|
27,330,800
|
|||||
Taxes paid on undistributed capital gains
|
(5,489
|
)
|
(13,473
|
)
|
|||
Net cash provided by (used in) operating activities
|
16,267,369
|
16,407,528
|
|||||
Cash Flows from Financing Activities:
|
|||||||
(Increase) Decrease in deferred offering costs
|
525,316
|
601,517
|
|||||
Increase (Decrease) in:
|
|||||||
Cash overdraft
|
1,212,698
|
(5,982,898
|
)
|
||||
Floating rate obligations
|
(12,975,000
|
)
|
—
|
||||
Payable for offering costs
|
(236,204
|
)
|
(84,870
|
)
|
|||
MTP Shares, at liquidation value
|
—
|
(127,408,000
|
)
|
||||
VRDP shares, at liquidation value
|
—
|
128,000,000
|
|||||
Cash distributions paid to common shareholders
|
(4,993,813
|
)
|
(6,403,215
|
)
|
|||
Net cash provided by (used in) financing activities
|
(16,467,003
|
)
|
(11,277,466
|
)
|
|||
Net Increase (Decrease) in Cash
|
(199,634
|
)
|
5,130,062
|
||||
Cash at the beginning of period
|
199,634
|
—
|
|||||
Cash at the End of Period
|
$
|
—
|
$
|
5,130,062
|
|||
Supplemental Disclosure of Cash Flow Information
|
North
|
|||||||
Carolina
|
Virginia
|
||||||
Premium
|
Premium
|
||||||
Income
|
Income
|
||||||
(NNC
|
)
|
(NPV
|
)
|
||||
Cash paid for interest (excluding amortization of offering costs)
|
$
|
1,685,109
|
$
|
1,262,318
|
|||
Non-cash financing activities not included herein consists of reinvestments of common share distributions
|
—
|
—
|
60
|
Nuveen Investments
|
Financial
|
|
Highlights (Unaudited)
|
|
Selected data for a common share outstanding throughout each period:
|
Investment Operations
|
Less Distributions
|
|||||||||||||||||||||||||||||||||
Beginning
Common
Share
Net Asset
Value
|
Net
Investment
Income
(Loss)
|
Net
Realized/
Unrealized
Gain (Loss)
|
Distributions
from Net
Investment
Income to
Auction Rate
Preferred
Shareholders
|
(a)
|
Distributions
from
Accumulated
Net Realized
Gains to
Auction Rate
Preferred
Shareholders
|
(a)
|
Total
|
From
Net
Investment
Income to
Common
Shareholders
|
From
Accumulated
Net Realized
Gains to
Common
Shareholders
|
Total
|
Ending
Common
Share
Net Asset
Value
|
Ending
Market
Value
|
||||||||||||||||||||||
Georgia Dividend Advantage 2 (NKG)
|
||||||||||||||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||||||||||||||
2014(g)
|
$
|
14.58
|
$
|
.30
|
$
|
(1.26
|
)
|
$
|
—
|
$
|
—
|
$
|
(.96
|
)
|
$
|
(.32
|
)
|
$
|
—
|
$
|
(.32
|
)
|
$
|
13.30
|
$
|
11.63
|
||||||||
2013
|
14.71
|
.60
|
(.06
|
)
|
—
|
—
|
.54
|
(.67
|
)
|
—
|
(.67
|
)
|
14.58
|
13.39
|
||||||||||||||||||||
2012
|
13.78
|
.61
|
1.01
|
—
|
—
|
1.62
|
(.69
|
)
|
—
|
(.69
|
)
|
14.71
|
14.73
|
|||||||||||||||||||||
2011
|
14.21
|
.65
|
(.36
|
)
|
—
|
—
|
.29
|
(.72
|
)
|
—
|
(.72
|
)
|
13.78
|
13.92
|
||||||||||||||||||||
2010
|
13.27
|
.78
|
.87
|
(.02
|
)
|
—
|
1.63
|
(.69
|
)
|
—
|
(.69
|
)
|
14.21
|
14.00
|
||||||||||||||||||||
2009
|
13.92
|
.87
|
(.73
|
)
|
(.16
|
)
|
—
|
(.02
|
)
|
(.63
|
)
|
—
|
(.63
|
)
|
13.27
|
11.88
|
||||||||||||||||||
Maryland Premium Income (NMY)
|
||||||||||||||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||||||||||||||
2014(g)
|
15.56
|
.33
|
(1.64
|
)
|
—
|
—
|
(1.31
|
)
|
(.33
|
)
|
—
|
(.33
|
)
|
13.92
|
11.89
|
|||||||||||||||||||
2013
|
15.68
|
.58
|
.07
|
—
|
—
|
.65
|
(.77
|
)
|
—
|
(.77
|
)
|
15.56
|
13.82
|
|||||||||||||||||||||
2012
|
14.37
|
.68
|
1.40
|
—
|
—
|
2.08
|
(.77
|
)
|
—
|
(.77
|
)
|
15.68
|
15.64
|
|||||||||||||||||||||
2011
|
14.77
|
.80
|
(.43
|
)
|
(.01
|
)
|
—
|
.36
|
(.76
|
)
|
—
|
(.76
|
)
|
14.37
|
14.00
|
|||||||||||||||||||
2010
|
13.58
|
.84
|
1.10
|
(.02
|
)
|
—
|
1.92
|
(.73
|
)
|
—
|
(.73
|
)
|
14.77
|
14.43
|
||||||||||||||||||||
2009
|
14.19
|
.89
|
(.67
|
)
|
(.16
|
)
|
(.01
|
)
|
.05
|
(.63
|
)
|
(.03
|
)
|
(.66
|
)
|
13.58
|
12.68
|
62
|
Nuveen Investments
|
Ratios/Supplemental Data
|
|||||||||||||||||||||||
Total Returns
|
Ratios to Average Net Assets
Applicable to Common Shares
Before Reimbursement(c)
|
Ratios to Average Net Assets
Applicable to Common Shares
After Reimbursement(c)(d)
|
|||||||||||||||||||||
Based
on
Common
Share Net
Asset
Value
|
(b)
|
Based
on
Market
Value
|
(b)
|
Ending
Net
Assets
Applicable
to Common
Shares (000)
|
Expenses
|
(e)
|
Net
Investment
Income
(Loss)
|
Expenses
|
(e)
|
Net
Investment
Income
(Loss)
|
Portfolio
Turnover
Rate
|
(f)
|
|||||||||||
(6.55
|
)%
|
(10.79
|
)%
|
$
|
140,329
|
2.85
|
%*
|
4.42
|
%*
|
N/A
|
N/A
|
8
|
%
|
||||||||||
3.68
|
(4.83
|
)
|
153,832
|
2.66
|
4.09
|
N/A
|
N/A
|
18
|
|||||||||||||||
12.04
|
11.12
|
67,039
|
2.95
|
4.30
|
N/A
|
N/A
|
11
|
||||||||||||||||
2.13
|
4.84
|
62,777
|
2.79
|
4.64
|
2.75
|
%
|
4.68
|
%
|
4
|
||||||||||||||
12.54
|
24.23
|
64,721
|
1.75
|
5.43
|
1.59
|
5.59
|
3
|
||||||||||||||||
.20
|
(4.77
|
)
|
60,419
|
1.42
|
6.54
|
1.13
|
6.84
|
13
|
|||||||||||||||
(8.41
|
)
|
(11.63
|
)
|
335,639
|
2.60
|
*
|
4.60
|
*
|
N/A
|
N/A
|
12
|
||||||||||||
4.18
|
(7.10
|
)
|
375,162
|
2.58
|
4.12
|
N/A
|
N/A
|
17
|
|||||||||||||||
14.82
|
17.69
|
167,208
|
2.91
|
4.54
|
N/A
|
N/A
|
7
|
||||||||||||||||
2.53
|
2.32
|
153,082
|
2.10
|
5.48
|
N/A
|
N/A
|
6
|
||||||||||||||||
14.44
|
19.89
|
157,243
|
1.49
|
5.88
|
N/A
|
N/A
|
2
|
||||||||||||||||
.66
|
2.57
|
144,504
|
1.35
|
6.80
|
N/A
|
N/A
|
5
|
(a)
|
The amounts shown are based on common share equivalents.
|
(b)
|
Total Return Based on Market Value is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not annualized.
|
Total Return Based on Common Share Net Asset Value is the combination of changes in common share net asset value, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending net asset value. The actual reinvest price for the last dividend declared in the period may often be based on the Fund’s market price (and not its net asset value), and therefore may be different from the price used in the calculation. Total returns are not annualized.
|
|
(c)
|
Ratios do not reflect the effect of dividend payments to Auction Rate Preferred shareholders, where applicable; Net Investment Income (Loss) ratios reflect income earned and expenses incurred on assets attributable to Auction Rate Preferred Shares (“ARPS”) and/or MTP Shares, where applicable.
|
(d)
|
After expense reimbursement from the Adviser, where applicable. As of September 30, 2010, the Adviser is no longer reimbursing Georgia Dividend Advantage 2 (NKG) for any fees and expenses.
|
(e)
|
The expense ratios reflect, among other things, all interest expense and other costs related to MTP Shares and/or the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, each as described in Note 1 – General Information and Significant Accounting Policies, MuniFund Term Preferred Shares and Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities, respectively, as follows:
|
Georgia Dividend Advantage 2 (NKG)
|
||||
Year Ended 5/31:
|
||||
2014(g)
|
1.68
|
%*
|
||
2013
|
1.51
|
|||
2012
|
1.56
|
|||
2011
|
1.60
|
|||
2010
|
.55
|
|||
2009
|
.10
|
Maryland Premium Income (NMY)
|
||||
Year Ended 5/31:
|
||||
2014(g)
|
1.57
|
%*
|
||
2013
|
1.46
|
|||
2012
|
1.56
|
|||
2011
|
1.00
|
|||
2010
|
.32
|
|||
2009
|
.05
|
(f)
|
Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period.
|
(g)
|
For the six months ended November 30, 2013.
|
N/A
|
Fund does not have, or no longer has, a contractual reimbursement agreement with the Adviser.
|
*
|
Annualized.
|
Nuveen Investments
|
63
|
Investment Operations
|
Less Distributions
|
|||||||||||||||||||||||||||||||||
Beginning
Common
Share
Net Asset
Value
|
Net
Investment
Income
(Loss)
|
Net
Realized/
Unrealized
Gain (Loss)
|
Distributions
from Net
Investment
Income to
Auction Rate
Preferred
Shareholders
|
(a)
|
Distributions
from
Accumulated
Net Realized
Gains to
Auction Rate
Preferred
Shareholders
|
(a)
|
Total
|
From
Net
Investment
Income to
Common
Shareholders
|
From
Accumulated
Net
Realized
Gains to
Common
Shareholders
|
Total
|
Ending
Common
Share
Net Asset
Value
|
Ending
Market
Value
|
||||||||||||||||||||||
Missouri Premium Income (NOM)
|
||||||||||||||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||||||||||||||
2014(f)
|
$
|
14.61
|
$
|
.32
|
$
|
(1.28
|
)
|
$
|
—
|
$
|
—
|
$
|
(.96
|
)
|
$
|
(.37
|
)
|
$
|
—
|
$
|
(.37
|
)
|
$
|
13.28
|
$
|
13.03
|
||||||||
2013
|
14.62
|
.66
|
.06
|
—
|
—
|
.72
|
(.73
|
)
|
—
|
(.73
|
)
|
14.61
|
16.04
|
|||||||||||||||||||||
2012
|
13.19
|
.69
|
1.52
|
—
|
—
|
2.21
|
(.78
|
)
|
—
|
(.78
|
)
|
14.62
|
16.90
|
|||||||||||||||||||||
2011
|
13.55
|
.78
|
(.35
|
)
|
(.01
|
)
|
—
|
.42
|
(.78
|
)
|
—
|
(.78
|
)
|
13.19
|
13.88
|
|||||||||||||||||||
2010
|
12.44
|
.83
|
.99
|
(.03
|
)
|
—
|
1.79
|
(.68
|
)
|
—
|
(.68
|
)
|
13.55
|
16.50
|
||||||||||||||||||||
2009
|
13.52
|
.85
|
(1.12
|
)
|
(.16
|
)
|
—
|
(.43
|
)
|
(.65
|
)
|
—
|
(.65
|
)
|
12.44
|
12.90
|
||||||||||||||||||
North Carolina Premium Income (NNC)
|
||||||||||||||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||||||||||||||
2014(f)
|
15.02
|
.27
|
(1.18
|
)
|
—
|
—
|
(.91
|
)
|
(.30
|
)
|
—
|
(.30
|
)
|
13.81
|
11.88
|
|||||||||||||||||||
2013
|
15.30
|
.56
|
(.17
|
)
|
—
|
—
|
.39
|
(.67
|
)
|
—
|
(.67
|
)
|
15.02
|
13.88
|
||||||||||||||||||||
2012
|
14.34
|
.57
|
1.10
|
—
|
—
|
1.67
|
(.71
|
)
|
—
|
(.71
|
)
|
15.30
|
15.97
|
|||||||||||||||||||||
2011
|
14.72
|
.69
|
(.32
|
)
|
(.01
|
)
|
—
|
.36
|
(.74
|
)
|
—
|
(.74
|
)
|
14.34
|
14.41
|
|||||||||||||||||||
2010
|
13.78
|
.81
|
.87
|
(.03
|
)
|
—
|
1.65
|
(.71
|
)
|
—
|
(.71
|
)
|
14.72
|
15.37
|
||||||||||||||||||||
2009
|
13.98
|
.85
|
(.27
|
)
|
(.17
|
)
|
—
|
.41
|
(.61
|
)
|
—
|
(.61
|
)
|
13.78
|
12.60
|
64
|
Nuveen Investments
|
Ratios/Supplemental Data
|
|||||||||||||||||
Total Returns
|
Ratios to Average Net Assets
Applicable to Common Shares(c)
|
||||||||||||||||
Based
on
Common
Share Net
Asset
Value
|
(b)
|
Based
on
Market
Value
|
(b)
|
Ending
Net
Assets
Applicable
to Common
Shares (000)
|
Expenses
|
(d)
|
Net
Investment
Income
(Loss)
|
Portfolio
Turnover
Rate
|
(e)
|
||||||||
(6.57
|
)%
|
(16.54
|
)%
|
$
|
30,936
|
2.86
|
%*
|
4.81
|
%*
|
14
|
%
|
||||||
4.98
|
(.67
|
)
|
34,011
|
2.77
|
4.45
|
12
|
|||||||||||
17.16
|
28.21
|
33,979
|
2.95
|
4.93
|
13
|
||||||||||||
3.22
|
(11.29
|
)
|
30,595
|
2.30
|
5.90
|
11
|
|||||||||||
14.69
|
34.31
|
31,348
|
1.37
|
6.37
|
7
|
||||||||||||
(2.92
|
)
|
(7.83
|
)
|
28,734
|
1.55
|
6.96
|
2
|
||||||||||
(6.03
|
)%
|
(12.29
|
)%
|
228,533
|
2.87
|
*
|
3.95
|
*
|
12
|
||||||||
2.50
|
(9.16
|
)
|
248,601
|
2.72
|
3.88
|
17
|
|||||||||||
11.88
|
16.23
|
97,497
|
3.28
|
3.85
|
18
|
||||||||||||
2.57
|
(1.27
|
)
|
91,256
|
2.49
|
4.77
|
10
|
|||||||||||
12.24
|
28.20
|
93,570
|
1.54
|
5.68
|
6
|
||||||||||||
3.22
|
(.44
|
)
|
87,558
|
1.39
|
6.43
|
7
|
(a)
|
The amounts shown are based on common share equivalents.
|
(b)
|
Total Return Based on Market Value is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not annualized.
|
Total Return Based on Common Share Net Asset Value is the combination of changes in common share net asset value, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending net asset value. The actual reinvest price for the last dividend declared in the period may often be based on the Fund’s market price (and not its net asset value), and therefore may be different from the price used in the calculation. Total returns are not annualized.
|
|
(c)
|
Ratios do not reflect the effect of dividend payments to Auction Rate Preferred shareholders, where applicable; Net Investment Income (Loss) ratios reflect income earned and expenses incurred on assets attributable to ARPS and/or MTP Shares, where applicable.
|
(d)
|
The expense ratios reflect, among other things, all interest expense and other costs related to MTP Shares and/or the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, each as described in Note 1 – General Information and Significant Accounting Policies, MuniFund Term Preferred Shares and Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities, respectively, as follows:
|
Missouri Premium Income (NOM)
|
||||
Year Ended 5/31:
|
||||
2014(f)
|
1.54
|
%*
|
||
2013
|
1.45
|
|||
2012
|
1.55
|
|||
2011
|
.93
|
|||
2010
|
.03
|
|||
2009
|
13
|
North Carolina Premium Income (NNC)
|
||||
Year Ended 5/31:
|
||||
2014(f)
|
1.71
|
%*
|
||
2013
|
1.60
|
|||
2012
|
1.71
|
|||
2011
|
1.29
|
|||
2010
|
.34
|
|||
2009
|
.07
|
(e)
|
Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period.
|
(f)
|
For the six months ended November 30, 2013.
|
*
|
Annualized.
|
Nuveen Investments
|
65
|
Investment Operations
|
Less Distributions
|
|||||||||||||||||||||||||||||||||
Beginning
Common
Share
Net Asset
Value
|
Net
Investment
Income
(Loss)
|
Net
Realized/
Unrealized
Gain (Loss)
|
Distributions
from Net
Investment
Income to
Auction Rate
Preferred
Shareholders
|
(a)
|
Distributions
from
Accumulated
Net Realized
Gains to
Auction Rate
Preferred
Shareholders
|
(a)
|
Total
|
From
Net
Investment
Income to
Common
Shareholders
|
From
Accumulated
Net
Realized
Gains to
Common
Shareholders
|
Total
|
Ending
Common
Share
Net Asset
Value
|
Ending
Market
Value
|
||||||||||||||||||||||
Virginia Premium Income (NPV)
|
||||||||||||||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||||||||||||||
2014(f)
|
$
|
15.38
|
$
|
.32
|
$
|
(1.88
|
)
|
$
|
—
|
$
|
—
|
$
|
(1.56
|
)
|
$
|
(.36
|
)
|
$
|
—
|
$
|
(.36
|
)
|
$
|
13.46
|
$
|
11.87
|
||||||||
2013
|
15.60
|
.66
|
(.10
|
)
|
—
|
—
|
.56
|
(.76
|
)
|
(.02
|
)
|
(.78
|
)
|
15.38
|
14.32
|
|||||||||||||||||||
2012
|
14.42
|
.68
|
1.32
|
—
|
—
|
2.00
|
(.80
|
)
|
(.02
|
)
|
(.82
|
)
|
15.60
|
17.05
|
||||||||||||||||||||
2011
|
14.73
|
.77
|
(.27
|
)
|
(.01
|
)
|
—
|
.49
|
(.80
|
)
|
—
|
(.80
|
)
|
14.42
|
14.92
|
|||||||||||||||||||
2010
|
13.76
|
.88
|
.93
|
(.03
|
)
|
—
|
1.78
|
(.81
|
)
|
—
|
(.81
|
)
|
14.73
|
15.85
|
||||||||||||||||||||
2009
|
14.39
|
.90
|
(.66
|
)
|
(.15
|
)
|
(.02
|
)
|
.07
|
(.65
|
)
|
(.05
|
)
|
(.70
|
)
|
13.76
|
14.36
|
66
|
Nuveen Investments
|
Ratios/Supplemental Data
|
|||||||||||||||||||
Total Returns
|
Ratios to Average Net Assets
Applicable to Common Shares(c)
|
||||||||||||||||||
Based
on
Common
Share Net
Asset
Value
|
(b)
|
Based
on
Market
Value
|
(b)
|
Ending
Net
Assets
Applicable
to Common
Shares (000)
|
Expenses
|
(d)
|
Net
Investment
Income
(Loss)
|
Portfolio
Turnover
Rate
|
(e)
|
||||||||||
(10.17
|
)%
|
(14.73
|
)%
|
$
|
241,384
|
2.79
|
%*
|
4.66
|
%*
|
12
|
%
|
||||||||
3.56
|
(11.76
|
)
|
275,865
|
2.57
|
4.19
|
21
|
|||||||||||||
14.26
|
20.61
|
141,099
|
2.78
|
4.49
|
12
|
||||||||||||||
3.48
|
(.58
|
)
|
130,032
|
2.11
|
5.36
|
12
|
|||||||||||||
13.19
|
16.60
|
132,302
|
1.45
|
6.14
|
3
|
||||||||||||||
.88
|
8.05
|
123,119
|
1.36
|
6.82
|
6
|
(a)
|
The amounts shown are based on common share equivalents.
|
(b)
|
Total Return Based on Market Value is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not annualized.
|
Total Return Based on Common Share Net Asset Value is the combination of changes in common share net asset value, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending net asset value. The actual reinvest price for the last dividend declared in the period may often be based on the Fund’s market price (and not its net asset value), and therefore may be different from the price used in the calculation. Total returns are not annualized.
|
|
(c)
|
Ratios do not reflect the effect of dividend payments to Auction Rate Preferred shareholders, where applicable; Net Investment Income (Loss) ratios reflect income earned and expenses incurred on assets attributable to ARPS, MTP Shares and/or VRDP Shares, where applicable.
|
(d)
|
The expense ratios reflect, among other things, all interest expense and other costs related to MTP Shares, VRDP Shares and/or the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, each as described in Note 1 – General Information and Significant Accounting Policies, MuniFund Term Preferred Shares and Variable Rate Demand Preferred Shares Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities, respectively, as follows:
|
Virginia Premium Income (NPV)
|
||||
Year Ended 5/31:
|
||||
2014(f)
|
1.73
|
%*
|
||
2013
|
1.44
|
|||
2012
|
1.41
|
|||
2011
|
.93
|
|||
2010
|
.29
|
|||
2009
|
.08
|
(e)
|
Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period.
|
(f)
|
For the six months ended November 30, 2013.
|
*
|
Annualized.
|
Nuveen Investments
|
67
|
ARPS at the End of Period
|
MTP Shares at the End of Period(a)
|
ARPS and MTP
Shares at the
End of Period
|
||||||||||||||
Aggregate Amount
Outstanding
(000
|
)
|
Asset
Coverage
Per $25,000 Share
|
Aggregate Amount
Outstanding
(000
|
)
|
Asset
Coverage
Per $10 Share
|
Asset Coverage
Per $1 Liquidation
Preference
|
||||||||||
Georgia Dividend Advantage 2 (NKG)
|
||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||
2014(b)
|
$
|
—
|
$
|
—
|
$
|
74,945
|
$
|
28.72
|
$
|
—
|
||||||
2013
|
—
|
—
|
74,945
|
30.53
|
—
|
|||||||||||
2012
|
—
|
—
|
32,265
|
30.78
|
—
|
|||||||||||
2011
|
—
|
—
|
32,265
|
29.46
|
—
|
|||||||||||
2010
|
—
|
—
|
32,265
|
30.06
|
—
|
|||||||||||
2009
|
31,700
|
72,649
|
—
|
—
|
—
|
|||||||||||
Maryland Premium Income (NMY)
|
||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||
2014(b)
|
—
|
—
|
166,144
|
30.20
|
—
|
|||||||||||
2013
|
—
|
—
|
166,144
|
32.58
|
—
|
|||||||||||
2012
|
—
|
—
|
74,593
|
32.42
|
—
|
|||||||||||
2011
|
—
|
—
|
74,593
|
30.52
|
—
|
|||||||||||
2010
|
32,975
|
79,788
|
38,775
|
31.92
|
3.19
|
|||||||||||
2009
|
70,875
|
75,972
|
—
|
—
|
—
|
(a)
|
The Ending and Average Market Value Per Share for each Series of the Fund’s MTP Shares were as follows:
|
2014
|
(b)
|
2013
|
2012
|
2011
|
2010
|
|||||||||||
Georgia Dividend Advantage 2 (NKG)
|
||||||||||||||||
Series 2015 (NKG PRC)
|
||||||||||||||||
Ending Market Value per Share
|
$
|
10.02
|
$
|
10.08
|
$
|
10.10
|
$
|
10.06
|
$
|
9.99
|
||||||
Average Market Value per Share
|
10.04
|
10.08
|
10.07
|
10.02
|
9.99
|
^
|
||||||||||
Series 2015-1 (NKG PRD)
|
||||||||||||||||
Ending Market Value per Share
|
10.02
|
10.10
|
—
|
—
|
—
|
|||||||||||
Average Market Value per Share
|
10.04
|
10.07
|
Ω |
—
|
—
|
—
|
||||||||||
Series 2015-2 (NKG PRE)
|
||||||||||||||||
Ending Market Value per Share
|
10.01
|
10.12
|
—
|
—
|
—
|
|||||||||||
Average Market Value per Share
|
10.02
|
10.07
|
Ω |
—
|
—
|
—
|
||||||||||
Maryland Premium Income (NMY)
|
||||||||||||||||
Series 2015 (NMY PRC)
|
||||||||||||||||
Ending Market Value per Share
|
10.02
|
10.06
|
10.06
|
10.09
|
10.00
|
|||||||||||
Average Market Value per Share
|
10.04
|
10.09
|
10.10
|
10.04
|
10.01
|
^
|
||||||||||
Series 2016 (NMY PRD)
|
||||||||||||||||
Ending Market Value per Share
|
10.10
|
10.16
|
10.11
|
10.10
|
—
|
|||||||||||
Average Market Value per Share
|
10.08
|
10.17
|
10.14
|
10.04
|
^^
|
—
|
||||||||||
Series 2015 (NMY PRE)
|
||||||||||||||||
Ending Market Value per Share
|
10.03
|
10.05
|
—
|
—
|
—
|
|||||||||||
Average Market Value per Share
|
10.03
|
10.07
|
ΩΩ
|
—
|
—
|
—
|
||||||||||
Series 2015-1(NMY PRF)
|
||||||||||||||||
Ending Market Value per Share
|
10.05
|
10.06
|
—
|
—
|
—
|
|||||||||||
Average Market Value per Share
|
10.03
|
10.07
|
ΩΩ
|
—
|
—
|
—
|
||||||||||
Series 2015-1(NMY PRG)
|
||||||||||||||||
Ending Market Value per Share
|
10.02
|
10.05
|
—
|
—
|
—
|
|||||||||||
Average Market Value per Share
|
10.04
|
10.08
|
ΩΩ
|
—
|
—
|
—
|
||||||||||
Series 2016 (NMY PRH)
|
||||||||||||||||
Ending Market Value per Share
|
10.04
|
10.13
|
—
|
—
|
—
|
|||||||||||
Average Market Value per Share
|
10.10
|
10.14
|
ΩΩ
|
—
|
—
|
—
|
(b)
|
For the six months ended November 30, 2013.
|
^
|
For the period January 29, 2010 (first issuance date of shares) through May 31, 2010.
|
^^
|
For the period March 15, 2011 (first issuance date of shares) through May 31, 2011.
|
Ω
|
For the period July 9, 2012 (effective date of the Reorganizations) through May 31, 2013.
|
ΩΩ
|
For the period August 6, 2012 (effective date of the Reorganizations) through May 31, 2013.
|
68
|
Nuveen Investments
|
ARPS at the End of Period
|
MTP Shares at the End of Period(a)
|
ARPS and MTP
Shares at the
End of Period
|
||||||||||||||
Aggregate Amount
Outstanding
(000
|
)
|
Asset
Coverage
Per $25,000 Share
|
Aggregate Amount
Outstanding
(000
|
)
|
Asset
Coverage
Per $10 Share
|
Asset Coverage
Per $1 Liquidation
Preference
|
||||||||||
Missouri Premium Income (NOM)
|
||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||
2014(b)
|
$
|
—
|
$
|
—
|
$
|
17,880
|
$
|
27.30
|
$
|
—
|
||||||
2013
|
—
|
—
|
17,880
|
29.02
|
—
|
|||||||||||
2012
|
—
|
—
|
17,880
|
29.00
|
—
|
|||||||||||
2011
|
—
|
—
|
17,880
|
27.11
|
—
|
|||||||||||
2010
|
16,000
|
73,981
|
—
|
—
|
—
|
|||||||||||
2009
|
16,000
|
69,897
|
—
|
—
|
—
|
|||||||||||
North Carolina Premium Income (NNC)
|
||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||
2014(b)
|
—
|
—
|
124,860
|
28.30
|
$
|
—
|
||||||||||
2013
|
—
|
—
|
124,860
|
29.91
|
—
|
|||||||||||
2012
|
—
|
—
|
49,835
|
29.56
|
—
|
|||||||||||
2011
|
—
|
—
|
49,835
|
28.31
|
—
|
|||||||||||
2010
|
21,550
|
76,020
|
24,300
|
30.41
|
3.04
|
|||||||||||
2009
|
46,800
|
71,773
|
—
|
—
|
—
|
(a)
|
The Ending and Average Market Value Per Share for each Series of the Fund’s MTP Shares were as follows:
|
2014
|
(b)
|
2013
|
2012
|
2011
|
2010
|
(c)
|
||||||||||
Missouri Premium Income (NOM)
|
||||||||||||||||
Series 2015 (NOM PRC)
|
||||||||||||||||
Ending Market Value per Share
|
$
|
10.02
|
$
|
10.03
|
$
|
10.40
|
$
|
13.88
|
—
|
|||||||
Average Market Value per Share
|
10.03
|
10.08
|
9.98
|
15.41
|
Δ |
—
|
||||||||||
North Carolina Premium Income (NNC)
|
||||||||||||||||
Series 2015 (NNC PRC)
|
||||||||||||||||
Ending Market Value per Share
|
10.02
|
10.07
|
10.11
|
10.04
|
9.99
|
|||||||||||
Average Market Value per Share
|
10.04
|
10.10
|
10.09
|
10.04
|
10.01
|
ΔΔ
|
||||||||||
Series 2016 (NNC PRD)
|
||||||||||||||||
Ending Market Value per Share
|
10.03
|
10.08
|
10.10
|
10.00
|
—
|
|||||||||||
Average Market Value per Share
|
10.04
|
10.09
|
10.07
|
9.94
|
ΔΔΔ
|
—
|
||||||||||
Series 2015 (NNC PRE)
|
||||||||||||||||
Ending Market Value per Share
|
10.01
|
10.06
|
—
|
—
|
—
|
|||||||||||
Average Market Value per Share
|
10.03
|
10.07
|
Ω
|
—
|
—
|
—
|
||||||||||
Series 2015-1 (NNC PRF)
|
||||||||||||||||
Ending Market Value per Share
|
10.04
|
10.06
|
—
|
—
|
—
|
|||||||||||
Average Market Value per Share
|
10.04
|
10.07
|
Ω
|
—
|
—
|
—
|
||||||||||
Series 2015-1 (NNC PRG)
|
||||||||||||||||
Ending Market Value per Share
|
10.04
|
10.06
|
—
|
—
|
—
|
|||||||||||
Average Market Value per Share
|
10.04
|
10.07
|
Ω
|
—
|
—
|
—
|
(b)
|
For the six months ended November 30, 2013.
|
(c)
|
Missouri Premium Income (NOM) did not issue MTP Shares prior to the fiscal year ended May 31, 2011.
|
Δ
|
For the period November 9, 2010 (first issuance date of shares) through May 31, 2011.
|
ΔΔ
|
For the period January 21, 2010 (first issuance date of shares) through May 31, 2010.
|
ΔΔΔ
|
For the period December 14, 2010 (first issuance date of shares) through May 31, 2011.
|
Ω
|
For the period July 9, 2012 (effective date of the Reorganizations) through May 31, 2013.
|
Nuveen Investments
|
69
|
ARPS at the
End of Period
|
MTP Shares at
the End of Period(a)
|
VRDP Shares
at the End of Period
|
ARPS and
MTP Shares
at the
End of Period
|
|||||||||||||||||||
Aggregate
Amount
Outstanding
(000)
|
Asset
Coverage
Per $25,000
Share
|
Aggregate
Amount
Outstanding
(000)
|
Asset
Coverage
Per $10
Share
|
Aggregate
Amount
Outstanding
(000)
|
Asset
Coverages
Per $100,000
Share
|
Asset
Coverage Per
$1 Liquidation
Preference
|
||||||||||||||||
Virginia Premium Income (NPV)
|
||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||
2014 (b)
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
128,000
|
$
|
288,581
|
$
|
—
|
||||||||
2013
|
—
|
—
|
127,408
|
31.65
|
—
|
—
|
—
|
|||||||||||||||
2012
|
—
|
—
|
61,408
|
32.98
|
—
|
—
|
—
|
|||||||||||||||
2011
|
—
|
—
|
61,408
|
31.18
|
—
|
—
|
—
|
|||||||||||||||
2010
|
25,550
|
82,269
|
32,205
|
32.91
|
—
|
—
|
3.29
|
|||||||||||||||
2009
|
63,800
|
73,244
|
—
|
—
|
—
|
—
|
—
|
(a)
|
The Ending and Average Market Value Per Share for each Series of the Fund’s MTP Shares were as follows:
|
2014
|
(b)
|
2013
|
2012
|
2011
|
2010
|
|||||||||||
Virginia Premium Income (NPV)
|
||||||||||||||||
Series 2014 (NPV PRA)
|
||||||||||||||||
Ending Market Value per Share
|
$
|
—
|
$
|
10.03
|
$
|
10.12
|
$
|
10.03
|
$
|
—
|
||||||
Average Market Value per Share
|
—
|
10.08
|
10.10
|
10.02*
|
—
|
|||||||||||
Series 2015 (NPV PRC)
|
||||||||||||||||
Ending Market Value per Share
|
—
|
10.09
|
10.13
|
10.01
|
10.00
|
|||||||||||
Average Market Value per Share
|
—
|
10.09
|
10.09
|
10.07
|
10.00
|
**
|
||||||||||
Series 2014 (NPV PRD)
|
||||||||||||||||
Ending Market Value per Share
|
—
|
10.06
|
—
|
—
|
—
|
|||||||||||
Average Market Value per Share
|
—
|
10.09
|
ΩΩ
|
—
|
—
|
—
|
||||||||||
Series 2014-1 (NPV PRE)
|
||||||||||||||||
Ending Market Value per Share
|
—
|
10.09
|
—
|
—
|
—
|
|||||||||||
Average Market Value per Share
|
—
|
10.09
|
ΩΩ
|
—
|
—
|
—
|
(b)
|
For the six months ended November 30, 2013.
|
*
|
For the period March 14, 2011 (first issuance date of shares) through May 31, 2011.
|
**
|
For the period January 26, 2010 (first issuance date of shares) through May 31, 2010.
|
ΩΩ
|
For the period August 6, 2012 (effective date of the Reorganizations) through May 31, 2013.
|
70
|
Nuveen Investments
|
Notes to
|
|
Financial Statements (Unaudited)
|
•
|
Nuveen Georgia Dividend Advantage Municipal Fund 2 (NKG) (“Georgia Dividend Advantage 2 (NKG)”)
|
|
•
|
Nuveen Maryland Premium Income Municipal Fund (NMY) (“Maryland Premium Income (NMY)”)
|
|
•
|
Nuveen Missouri Premium Income Municipal Fund (NOM) (“Missouri Premium Income (NOM)”)
|
|
•
|
Nuveen North Carolina Premium Income Municipal Fund (NNC) (“North Carolina Premium Income (NNC)”)
|
|
•
|
Nuveen Virginia Premium Income Municipal Fund (NPV) (“Virginia Premium Income (NPV)”)
|
Maryland
|
Missouri
|
Virginia
|
||||||||
Premium
|
Premium
|
Premium
|
||||||||
Income
|
Income
|
Income
|
||||||||
(NMY
|
)
|
(NOM
|
)
|
(NPV
|
)
|
|||||
Outstanding when-issued/delayed delivery purchase commitments
|
$
|
4,604,162
|
$
|
746,482
|
$
|
2,510,461
|
Nuveen Investments
|
71
|
Series
|
NYSE/
NYSE MKT
Ticker
|
Shares
Outstanding
|
Shares
Outstanding
at $10 Per Share
Liquidation Value
|
Annual
Interest
Rate
|
||||||||||||
Georgia Dividend Advantage 2 (NKG)
|
||||||||||||||||
2015
|
NKG PRC
|
3,226,500
|
$
|
32,265,000
|
2.65
|
%
|
||||||||||
2015-1
|
NKG PRD
|
2,834,000
|
28,340,000
|
2.65
|
||||||||||||
2015-2
|
NKG PRE
|
1,434,000
|
14,340,000
|
2.65
|
||||||||||||
Maryland Premium Income (NMY)
|
||||||||||||||||
2015
|
NMY PRC
|
3,877,500
|
$
|
38,775,000
|
2.65
|
%
|
||||||||||
2016
|
NMY PRD
|
3,581,800
|
35,818,000
|
2.90
|
||||||||||||
2015
|
NMY PRE
|
2,648,500
|
26,485,000
|
2.60
|
||||||||||||
2015-1
|
NMY PRF
|
2,730,000
|
27,300,000
|
2.60
|
||||||||||||
2015-1
|
NMY PRG
|
2,070,000
|
20,700,000
|
2.65
|
||||||||||||
2016
|
NMY PRH
|
1,706,600
|
17,066,000
|
2.85
|
||||||||||||
Missouri Premium Income (NOM)
|
||||||||||||||||
2015
|
NOM PRC
|
1,780,000
|
$
|
17,800,000
|
2.10
|
%
|
||||||||||
North Carolina Premium Income (NNC)
|
||||||||||||||||
2015
|
NNC PRC
|
2,430,000
|
$
|
24,300,000
|
2.65
|
%
|
||||||||||
2016
|
NNC PRD
|
2,553,500
|
25,535,000
|
2.60
|
||||||||||||
2015
|
NNC PRE
|
1,660,000
|
16,600,000
|
2.60
|
||||||||||||
2015-1
|
NNC PRF
|
2,970,000
|
29,700,000
|
2.60
|
||||||||||||
2015-1
|
NNC PRG
|
2,872,500
|
28,725,000
|
2.65
|
72
|
Nuveen Investments
|
NYSE/
|
Term
|
Optional
|
Premium
|
|||||||||||||
NYSE MKT
|
Redemption
|
Redemption
|
Expiration
|
|||||||||||||
Series
|
Ticker
|
Date
|
Date
|
Date
|
||||||||||||
Georgia Dividend Advantage 2 (NKG)
|
||||||||||||||||
2015
|
NKG PRC
|
February 1, 2015
|
February 1, 2011
|
January 31, 2012
|
||||||||||||
2015-1
|
NKG PRD
|
March 1, 2015
|
March 1, 2012
|
February 28, 2013
|
||||||||||||
2015-2
|
NKG PRE
|
March 1, 2015
|
March 1, 2012
|
February 28, 2013
|
||||||||||||
Maryland Premium Income (NMY)
|
||||||||||||||||
2015
|
NMY PRC
|
February 1, 2015
|
February 1, 2011
|
January 31, 2012
|
||||||||||||
2016
|
NMY PRD
|
April 1, 2016
|
April 1, 2012
|
March 31, 2013
|
||||||||||||
2015
|
NMY PRE
|
May 1, 2015
|
May 1, 2012
|
April 30, 2013
|
||||||||||||
2015-1
|
NMY PRF
|
May 1, 2015
|
May 1, 2012
|
April 30, 2013
|
||||||||||||
2015-1
|
NMY PRG
|
March 1, 2015
|
March 1, 2012
|
February 28, 2013
|
||||||||||||
2016
|
NMY PRH
|
February 1, 2016
|
February 1, 2013
|
January 31, 2014
|
||||||||||||
Missouri Premium Income (NOM)
|
||||||||||||||||
2015
|
NOM PRC
|
December 1, 2015
|
December 1, 2011
|
November 30, 2012
|
||||||||||||
North Carolina Premium Income (NNC)
|
||||||||||||||||
2015
|
NNC PRC
|
February 1, 2015
|
February 1, 2011
|
January 31, 2012
|
||||||||||||
2016
|
NNC PRD
|
January 1, 2016
|
January 1, 2012
|
December 31, 2012
|
||||||||||||
2015
|
NNC PRE
|
April 1, 2015
|
April 1, 2012
|
March 31, 2013
|
||||||||||||
2015-1
|
NNC PRF
|
April 1, 2015
|
April 1, 2012
|
March 31, 2013
|
||||||||||||
2015-1
|
NNC PRG
|
March 1, 2015
|
March 1, 2012
|
February 28, 2013
|
North
|
|||||||||||||
Georgia
|
Maryland
|
Missouri
|
Carolina
|
||||||||||
Dividend
|
Premium
|
Premium
|
Premium
|
||||||||||
Advantage 2
|
Income
|
Income
|
Income
|
||||||||||
(NKG
|
)
|
(NMY
|
)
|
(NOM
|
)
|
(NNC
|
)
|
||||||
Average liquidation value of MTP Shares outstanding
|
$
|
74,945,000
|
$
|
166,144,000
|
$
|
17,880,000
|
$
|
124,860,000
|
Shares
|
|||||||||||||
Outstanding
|
|||||||||||||
Shares
|
at $100,000 Per Share
|
||||||||||||
Series
|
Outstanding
|
Liquidation Value
|
Maturity
|
||||||||||
Virginia Premium Income (NPV)
|
1
|
1,280
|
$
|
128,000,000
|
August 3, 2043
|
Nuveen Investments
|
73
|
Virginia
|
||||
Premium
|
||||
Income
|
||||
(NPV
|
)
|
|||
Average liquidation value of VRDP Shares outstanding
|
$
|
128,000,000
|
||
Annualized dividend rate
|
.17
|
%
|
74
|
Nuveen Investments
|
Level 1 –
|
Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
|
Level 2 –
|
Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
|
Level 3 –
|
Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
|
Georgia Dividend Advantage 2 (NKG)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Long-Term Investments*:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
213,038,656
|
$
|
—
|
$
|
213,038,656
|
|||||
Maryland Premium Income (NMY)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Long-Term Investments*:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
504,265,613
|
$
|
—
|
$
|
504,265,613
|
|||||
Missouri Premium Income (NOM)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Long-Term Investments*:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
50,915,679
|
$
|
—
|
$
|
50,915,679
|
Nuveen Investments
|
75
|
North Carolina Premium Income (NNC)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Long-Term Investments*:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
353,394,622
|
$
|
—
|
$
|
353,394,622
|
|||||
Virginia Premium Income (NPV)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Long-Term Investments*:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
370,030,818
|
$
|
—
|
$
|
370,030,818
|
(i)
|
If available, fair value determinations shall be derived by extrapolating from recent transactions or quoted prices for identical or comparable securities.
|
|
(ii)
|
If such information is not available, an analytical valuation methodology may be used based on other available information including, but not limited to: analyst appraisals, research reports, corporate action information, issuer financial statements and shelf registration statements. Such analytical valuation methodologies may include, but are not limited to: multiple of earnings, discount from market value of a similar freely-traded security, discounted cash flow analysis, book value or a multiple thereof, risk premium/yield analysis, yield to maturity and/or fundamental investment analysis.
|
76
|
Nuveen Investments
|
Georgia
|
Maryland
|
Missouri
|
Carolina
|
Virginia
|
||||||||||||
Dividend
|
Premium
|
Premium
|
Premium
|
Premium
|
||||||||||||
Advantage 2
|
Income
|
Income
|
Income
|
Income
|
||||||||||||
(NKG
|
)
|
(NMY
|
)
|
(NOM
|
)
|
(NNC
|
)
|
(NPV
|
)
|
|||||||
Average floating rate obligations outstanding
|
$
|
3,245,000
|
$
|
21,995,000
|
$
|
2,225,000
|
$
|
17,475,656
|
$
|
9,250,000
|
||||||
Average annual interest rate and fees
|
.43
|
%
|
.71
|
%
|
.25
|
%
|
.56
|
%
|
.28
|
%
|
North
|
||||||||||||||||
Georgia
|
Maryland
|
Missouri
|
Carolina
|
Virginia
|
||||||||||||
Dividend
|
Premium
|
Premium
|
Premium
|
Premium
|
||||||||||||
Advantage 2
|
Income
|
Income
|
Income
|
Income
|
||||||||||||
(NKG
|
)
|
(NMY
|
)
|
(NOM
|
)
|
(NNC
|
)
|
(NPV
|
)
|
|||||||
Floating rate obligations: self-deposited inverse floaters
|
$
|
3,245,000
|
$
|
21,995,000
|
$
|
2,225,000
|
$
|
10,740,000
|
$
|
9,250,000
|
||||||
Floating rate obligations: externally-deposited inverse floaters
|
5,635,000
|
6,665,000
|
—
|
—
|
20,070,000
|
|||||||||||
Total
|
$
|
8,880,000
|
$
|
28,660,000
|
$
|
2,225,000
|
$
|
10,740,000
|
$
|
29,320,000
|
Nuveen Investments
|
77
|
Georgia Dividend
|
Maryland Premium
|
Missouri Premium
|
|||||||||||||||||
Advantage 2 (NKG)
|
Income (NMY)
|
Income (NOM)
|
|||||||||||||||||
Six Months
|
Six Months
|
Six Months
|
|||||||||||||||||
Ended
|
Year Ended
|
Ended
|
Year Ended
|
Ended
|
Year Ended
|
||||||||||||||
11/30/13
|
5/31/13
|
11/30/13
|
5/31/13
|
11/30/13
|
5/31/13
|
||||||||||||||
Common shares:
|
|||||||||||||||||||
Issued in the Reorganizations
|
—
|
5,990,755
|
—
|
13,439,122
|
—
|
—
|
|||||||||||||
Issued to shareholders due to reinvestment of distributions
|
—
|
1,859
|
—
|
4,796
|
1,875
|
3,547
|
North Carolina
|
Virginia Premium
|
||||||||||||
Premium Income (NNC)
|
Income (NPV)
|
||||||||||||
Six Months
|
Six Months
|
||||||||||||
Ended
|
Year Ended
|
Ended
|
Year Ended
|
||||||||||
11/30/13
|
5/31/13
|
11/30/13
|
5/31/13
|
||||||||||
Common shares:
|
|||||||||||||
Issued in the Reorganizations
|
—
|
10,175,659
|
—
|
8,861,589
|
|||||||||
Issued to shareholders due to reinvestment of distributions
|
—
|
1,941
|
—
|
28,384
|
Six Months Ended 11/30/13
|
|||||||||||||
NYSE/
|
|||||||||||||
NYSE MKT
|
|||||||||||||
Series
|
Ticker
|
Shares
|
Amount
|
||||||||||
Virginia Premium Income (NPV)
|
|||||||||||||
MTP Shares redeemed:
|
|||||||||||||
2014
|
NVP PRA
|
(2,920,300
|
)
|
$
|
(29,203,000
|
)
|
|||||||
2015
|
NVP PRC
|
(3,220,500
|
)
|
(32,205,000
|
)
|
||||||||
2014
|
NPV PRD
|
(2,280,000
|
)
|
(22,800,000
|
)
|
||||||||
2014-1
|
NVP PRE
|
(4,320,000
|
)
|
(43,200,000
|
)
|
||||||||
Total
|
(12,740,800
|
)
|
$
|
(127,408,000
|
)
|
78
|
Nuveen Investments
|
Year ended May 31, 2013
|
|||||||||||||
NYSE/
|
|||||||||||||
NYSE MKT
|
|||||||||||||
Series
|
Ticker
|
Shares
|
Amount
|
||||||||||
Georgia Dividend Advantage 2 (NKG)
|
|||||||||||||
MTP Shares issued:
|
|||||||||||||
2015-1
|
NKG PRD
|
2,834,000
|
$
|
28,340,000
|
|||||||||
2015-2
|
NKG PRE
|
1,434,000
|
14,340,000
|
||||||||||
Total
|
4,268,000
|
$
|
42,680,000
|
||||||||||
Maryland Premium Income (NMY)
|
|||||||||||||
MTP Shares issued:
|
|||||||||||||
2015
|
NMY PRE
|
2,648,500
|
$
|
26,485,000
|
|||||||||
2015-1
|
NMY PRF
|
2,730,000
|
27,300,000
|
||||||||||
2015-1
|
NMY PRG
|
2,070,000
|
20,700,000
|
||||||||||
2016
|
NMY PRH
|
1,706,600
|
17,066,000
|
||||||||||
Total
|
9,155,100
|
$
|
91,551,000
|
||||||||||
North Carolina Premium Income (NNC)
|
|||||||||||||
MTP Shares issued:
|
|||||||||||||
2015
|
NNC PRE
|
1,660,000
|
$
|
16,600,000
|
|||||||||
2015-1
|
NNC PRF
|
2,970,000
|
29,700,000
|
||||||||||
2015-1
|
NNC PRG
|
2,872,500
|
28,725,000
|
||||||||||
Total
|
7,502,500
|
$
|
75,025,000
|
||||||||||
Virginia Premium Income (NPV)
|
|||||||||||||
MTP Shares issued:
|
|||||||||||||
2014
|
NPV PRD
|
2,280,000
|
$
|
22,800,000
|
|||||||||
2014-1
|
NVP PRE
|
4,320,000
|
43,200,000
|
||||||||||
Total
|
6,600,000
|
$
|
66,000,000
|
Six Months Ended 11/30/13
|
||||||||||
Series
|
Shares
|
Amount
|
||||||||
Virginia Premium Income (NPV)
|
||||||||||
VRDP Shares issued
|
1
|
1,280
|
$
|
128,000,000
|
North
|
||||||||||||||||
Georgia
|
Maryland
|
Missouri
|
Carolina
|
Virginia
|
||||||||||||
Dividend
|
Premium
|
Premium
|
Premium
|
Premium
|
||||||||||||
Advantage 2
|
Income
|
Income
|
Income
|
Income
|
||||||||||||
(NKG
|
)
|
(NMY
|
)
|
(NOM
|
)
|
(NNC
|
)
|
(NPV
|
)
|
|||||||
Purchases
|
$
|
17,363,708
|
$
|
64,252,927
|
$
|
8,461,521
|
$
|
46,064,042
|
$
|
47,005,203
|
||||||
Sales and maturities
|
18,717,947
|
77,383,441
|
6,914,756
|
58,777,531
|
49,341,209
|
Nuveen Investments
|
79
|
North
|
||||||||||||||||
Georgia
|
Maryland
|
Missouri
|
Carolina
|
Virginia
|
||||||||||||
Dividend
|
Premium
|
Premium
|
Premium
|
Premium
|
||||||||||||
Advantage 2
|
Income
|
Income
|
Income
|
Income
|
||||||||||||
(NKG
|
)
|
(NMY
|
)
|
(NOM
|
)
|
(NNC
|
)
|
(NPV
|
)
|
|||||||
Cost of investments
|
$
|
207,198,775
|
$
|
479,854,150
|
$
|
48,045,033
|
$
|
340,319,342
|
$
|
365,162,751
|
||||||
Gross unrealized:
|
||||||||||||||||
Appreciation
|
$
|
6,560,078
|
$
|
19,652,498
|
$
|
1,883,539
|
$
|
10,626,504
|
$
|
12,182,372
|
||||||
Depreciation
|
(3,964,924
|
)
|
(17,236,031
|
)
|
(1,237,830
|
)
|
(8,291,254
|
)
|
(16,564,305
|
)
|
||||||
Net unrealized appreciation (depreciation) of investments
|
$
|
2,595,154
|
$
|
2,416,467
|
$
|
645,709
|
$
|
2,335,250
|
$
|
(4,381,933
|
)
|
North
|
||||||||||||||||
Georgia
|
Maryland
|
Missouri
|
Carolina
|
Virginia
|
||||||||||||
Dividend
|
Premium
|
Premium
|
Premium
|
Premium
|
||||||||||||
Advantage 2
|
Income
|
Income
|
Income
|
Income
|
||||||||||||
(NKG
|
)
|
(NMY
|
)
|
(NOM
|
)
|
(NNC
|
)
|
(NPV
|
)
|
|||||||
Paid-in-surplus
|
$
|
614,102
|
$
|
898,200
|
$
|
(118,080
|
)
|
$
|
16,497
|
$
|
(472,332
|
)
|
||||
Undistributed (Over-distribution of) net investment income
|
437,961
|
1,223,744
|
118,080
|
679,501
|
796,696
|
|||||||||||
Accumulated net realized gain (loss)
|
(1,052,063
|
)
|
(2,121,944
|
)
|
—
|
(695,998
|
)
|
(324,364
|
)
|
North
|
||||||||||||||||
Georgia
|
Maryland
|
Missouri
|
Carolina
|
Virginia
|
||||||||||||
Dividend
|
Premium
|
Premium
|
Premium
|
Premium
|
||||||||||||
Advantage 2
|
Income
|
Income
|
Income
|
Income
|
||||||||||||
(NKG
|
)
|
(NMY
|
)
|
(NOM
|
)
|
(NNC
|
)
|
(NPV
|
)
|
|||||||
Undistributed net tax-exempt income1
|
$
|
757,287
|
$
|
2,684,045
|
$
|
455,468
|
$
|
933,722
|
$
|
2,025,182
|
||||||
Undistributed net ordinary income2
|
—
|
20,205
|
—
|
—
|
10,980
|
|||||||||||
Undistributed net long-term capital gains
|
—
|
—
|
—
|
—
|
177,475
|
1
|
Undistributed net tax-exempt income (on a tax basis) has not been reduced for the dividend declared on May 1, 2013, paid on June 3, 2013.
|
2
|
Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.
|
80
|
Nuveen Investments
|
North
|
||||||||||||||||
Georgia
|
Maryland
|
Missouri
|
Carolina
|
Virginia
|
||||||||||||
Dividend
|
Premium
|
Premium
|
Premium
|
Premium
|
||||||||||||
Advantage 2
|
Income
|
Income
|
Income
|
Income
|
||||||||||||
(NKG
|
)
|
(NMY
|
)
|
(NOM
|
)
|
(NNC
|
)
|
(NPV
|
)
|
|||||||
Distributions from net tax-exempt income
|
$
|
7,902,906
|
$
|
18,685,110
|
$
|
2,087,163
|
$
|
12,772,122
|
$
|
13,813,122
|
||||||
Distributions from net ordinary income2
|
8,446
|
—
|
—
|
8,772
|
50,192
|
|||||||||||
Distributions from net long-term capital gains
|
—
|
—
|
—
|
—
|
274,262
|
2
|
Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.
|
North
|
|||||||||||||
Georgia
|
Maryland
|
Missouri
|
Carolina
|
||||||||||
Dividend
|
Premium
|
Premium
|
Premium
|
||||||||||
Advantage 2
|
Income
|
Income
|
Income
|
||||||||||
(NKG
|
)
|
(NMY
|
)*
|
(NOM
|
)
|
(NNC
|
)
|
||||||
Expiration:
|
|||||||||||||
May 31, 2015
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
112,402
|
|||||
May 31, 2016
|
462,549
|
851,610
|
—
|
42,115
|
|||||||||
May 31, 2017
|
1,635,823
|
172,377
|
77,824
|
226,390
|
|||||||||
May 31, 2018
|
1,329,548
|
—
|
91,539
|
353,181
|
|||||||||
May 31, 2019
|
48,370
|
—
|
—
|
—
|
|||||||||
Not subject to expiration:
|
|||||||||||||
Short-term losses
|
—
|
—
|
—
|
—
|
|||||||||
Long-term losses
|
—
|
—
|
—
|
—
|
|||||||||
Total
|
$
|
3,476,290
|
$
|
1,023,987
|
$
|
169,363
|
$
|
734,088
|
*
|
A portion of Maryland Premium Income’s (NMY) capital loss carryforward is subject to limitation under the Internal Revenue Code and related regulations.
|
North
|
||||||||||||||||
Georgia
|
Maryland
|
Missouri
|
Carolina
|
Virginia
|
||||||||||||
Dividend
|
Premium
|
Premium
|
Premium
|
Premium
|
||||||||||||
Advantage 2
|
Income
|
Income
|
Income
|
Income
|
||||||||||||
(NKG
|
)
|
(NMY
|
)
|
(NOM
|
)
|
(NNC
|
)
|
(NPV
|
)
|
|||||||
Utilized capital loss carryforwards
|
$
|
226,587
|
$
|
304,972
|
$
|
14,851
|
$
|
394,092
|
$
|
286,137
|
Nuveen Investments
|
81
|
Georgia Dividend Advantage 2 (NKG)
|
|
Average Daily Managed Assets*
|
Fund-Level Fee Rate
|
For the first $125 million
|
.4500%
|
For the next $125 million
|
.4375
|
For the next $250 million
|
.4250
|
For the next $500 million
|
.4125
|
For the next $1 billion
|
.4000
|
For managed assets over $2 billion
|
.3750
|
North Carolina Premium Income (NNC)
|
|
Maryland Premium Income (NMY)
|
|
Missouri Premium Income (NOM)
|
|
Virginia Premium Income (NPV)
|
|
Average Daily Managed Assets*
|
Fund-Level Fee Rate
|
For the first $125 million
|
.4500%
|
For the next $125 million
|
.4375
|
For the next $250 million
|
.4250
|
For the next $500 million
|
.4125
|
For the next $1 billion
|
.4000
|
For the next $3 billion
|
.3875
|
For managed assets over $5 billion
|
.3750
|
Complex-Level Managed Asset Breakpoint Level*
|
Effective Rate at Breakpoint Level
|
$55 billion
|
.2000%
|
$56 billion
|
.1996
|
$57 billion
|
.1989
|
$60 billion
|
.1961
|
$63 billion
|
.1931
|
$66 billion
|
.1900
|
$71 billion
|
.1851
|
$76 billion
|
.1806
|
$80 billion
|
.1773
|
$91 billion
|
.1691
|
$125 billion
|
.1599
|
$200 billion
|
.1505
|
$250 billion
|
.1469
|
$300 billion
|
.1445
|
*
|
For the fund-level and complex-level fees, managed assets include closed-end fund assets managed by the Adviser that are attributable to certain types of leverage. For these purposes, leverage includes the funds’ use of preferred stock and borrowings and certain investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities, subject to an agreement by the Adviser as to certain funds to limit the amount of such assets for determining managed assets in certain circumstances. The complex-level fee is calculated based upon the aggregate daily managed assets of all Nuveen Funds that constitute “eligible assets.” Eligible assets do not include assets attributable to investments in other Nuveen Funds or assets in excess of $2 billion added to the Nuveen Fund complex in connection with the Adviser’s assumption of the management of the former First American Funds effective January 1, 2011. As of November 30, 2013, the complex-level fee rate for each of these Funds was .1679%.
|
82
|
Nuveen Investments
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Reinvest Automatically,
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Easily and Conveniently
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Nuveen Investments
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83
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Auction Rate Bond: An auction rate bond is a security whose interest payments are adjusted periodically through an auction process, which process typically also serves as a means for buying and selling the bond. Auctions that fail to attract enough buyers for all the shares offered for sale are deemed to have “failed,” with current holders receiving a formula-based interest rate until the next scheduled auction.
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Average Annual Total Return: This is a commonly used method to express an investment’s performance over a particular, usually multi-year time period. It expresses the return that would have been necessary each year to equal the investment’s actual cumulative performance (including change in NAV or market price and reinvested dividends and capital gains distributions, if any) over the time period being considered.
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Duration: Duration is a measure of the expected period over which a bond’s principal and interest will be paid, and consequently is a measure of the sensitivity of a bond’s or bond fund’s value to changes when market interest rates change. Generally, the longer a bond’s or fund’s duration, the more the price of the bond or Fund will change as interest rates change.
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Effective Leverage: Effective leverage is a fund’s effective economic leverage, and includes both regulatory leverage (see Leverage) and the leverage effects of certain derivative investments in the fund’s portfolio. Currently, the leverage effects of Tender Option Bond (TOB) inverse floater holdings are included in effective leverage values, in addition to any regulatory leverage.
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Gross Domestic Product (GDP): The total market value of all final goods and services produced in a country/region in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports.
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Inverse Floating Rate Securities: Inverse floating rate securities, also known as inverse floaters or tender option bonds (TOBs), are created by depositing a municipal bond, typically with a fixed interest rate, into a special purpose trust created by a broker dealer. This trust, in turn, (a) issues floating rate certificates typically paying short-term tax-exempt interest rates to third parties in amounts equal to some fraction of the deposited bond’s par amount or market value, and (b) issues an inverse floating rate certificate (sometimes referred to as an “inverse floater”) to an investor (such as a Fund) interested in gaining investment exposure to a long-term municipal bond. The income received by the holder of the inverse floater varies inversely with the short term rate paid to the floating rate certificates’ holders, and in most circumstances the holder of the inverse floater bears substantially all of the underlying bond’s downside investment risk. The holder of the inverse floater typically also benefits disproportionately from any potential appreciation of the underlying bond’s value. Hence, an inverse floater essentially represents an investment in the underlying bond on a leveraged basis.
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Leverage: Leverage is created whenever a fund has investment exposure (both reward and/or risk) equivalent to more than 100% of the investment capital.
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Lipper Other States Municipal Debt Funds Classification Average: Calculated using the returns of all closed-end funds in this category. Lipper returns account for the effects of management fees and assume reinvestment of distributions, but do not reflect any applicable sales charges.
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84
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Nuveen Investments
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Net Asset Value (NAV) Per Share: A fund’s Net Assets is equal to its total assets (securities, cash, accrued earnings and receivables) less its total liabilities. NAV per share is equal to the fund’s Net Assets divided by its number of shares outstanding.
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Pre-Refunding: Pre-Refunding, also known as advanced refundings or refinancings, is a procedure used by state and local governments to refinance municipal bonds to lower interest expenses. The issuer sells new bonds with a lower yield and uses the proceeds to buy U.S. Treasury securities, the interest from which is used to make payments on the higher-yielding bonds. Because of this collateral, pre-refunding generally raises a bond’s credit rating and thus its value.
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Regulatory Leverage: Regulatory Leverage consists of preferred shares issued by or borrowings of a fund. Both of these are part of a fund’s capital structure. Regulatory leverage is sometimes referred to as “40 Act Leverage” and is subject to asset coverage limits set in the Investment Company Act of 1940.
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S&P Municipal Bond Georgia Index: An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment-grade Georgia municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.
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S&P Municipal Bond Index: An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment-grade U.S. municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.
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S&P Municipal Bond Maryland Index: An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment-grade Maryland municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.
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S&P Municipal Bond Missouri Index: An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment-grade Missouri municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.
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S&P Municipal Bond North Carolina Index: An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment-grade North Carolina municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.
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S&P Municipal Bond Virginia Index: An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment-grade Virginia municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.
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Total Investment Exposure: Total investment exposure is a fund’s assets managed by the Adviser that are attributable to financial leverage. For these purposes, financial leverage includes a fund’s use of preferred stock and borrowings and investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities.
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Zero Coupon Bond: A zero coupon bond does not pay a regular interest coupon to its holders during the life of the bond. Tax-exempt income to the holder of the bond comes from accretion of the difference between the original purchase price of the bond at issuance and the par value of the bond at maturity and is effectively paid at maturity. The market prices of zero coupon bonds generally are more volatile than the market prices of bonds that pays interest periodically.
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Nuveen Investments
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85
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86
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Nuveen Investments
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Board of Trustees
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William Adams IV*
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Robert P. Bremner
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Jack B. Evans
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William C. Hunter
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David J. Kundert |
John K. Nelson
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William J. Schneider
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Thomas S. Schreier, Jr.*
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Judith M. Stockdale
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Carole E. Stone
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Virginia L. Stringer |
Terence J. Toth
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* Interested Board Member.
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Fund Manager
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Custodian
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Legal Counsel
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Independent Registered
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Transfer Agent and
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Nuveen Fund Advisors, LLC
333 West Wacker Drive
Chicago, IL 60606
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State Street Bank
& Trust Company
Boston, MA 02111
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Chapman and Cutler LLP
Chicago, IL 60603
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Public Accounting Firm
Ernst & Young LLP
Chicago, IL 60606
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Shareholder Services
State Street Bank
& Trust Company
Nuveen Funds
P.O. Box 43071
Providence, RI 02940-3071
(800) 257-8787
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NKG
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NMY
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NOM
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NNC
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NPV
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Common shares repurchased
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—
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—
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Nuveen Investments
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87
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Nuveen Investments:
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Serving Investors for Generations
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Distributed by Nuveen Investments, LLC | 333 West Wacker Drive | Chicago, IL 60606 | www.nuveen.com
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(a)
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The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the "Exchange Act")(17 CFR 240.13a-15(b) or 240.15d-15(b)).
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(b)
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There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
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(a)(1)
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Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable to this filing.
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(a)(2)
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A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)) in the exact form set forth below: See Ex-99.CERT attached hereto.
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(a)(3)
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Any written solicitation to purchase securities under Rule 23c-1 under the 1940 Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons: Not applicable.
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(b)
|
If the report is filed under Section 13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the 1940 Act (17 CFR 270.30a-2(b)); Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)), and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an exhibit. A certification furnished pursuant to this paragraph will not be deemed "filed" for purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registrant specifically incorporates it by reference: See Ex-99.906 CERT attached hereto.
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