UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

**FORM N-Q**

**QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED**

**MANAGEMENT INVESTMENT COMPANY**

**_______________________________**

Investment Company Act file number  811-2671

DWS Municipal Trust

(Exact name of registrant as specified in charter)

 

Two International Place

Boston, MA  02110

(Address of principal executive offices)             (Zip code)

 

Paul Schubert

345 Park Avenue

New York, NY  10154

(Name and address of agent for service)

Registrant's telephone number, including area code:  (212) 454-7190

Date of fiscal year end:  05/31

Date of reporting period: 08/31/07

 

ITEM 1.  SCHEDULE OF INVESTMENTS

 

| Investment Portfolio | **as of August 31, 2007  (Unaudited)** |
|----------------------|----------------------------------------|

 

 

**DWS Managed Municipal Bond Fund**

 

|   | **Principal****Amount ($)**         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | **Value ($)** |
|--------|-------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------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|        |
|   | **Municipal Bonds and Notes 89.8%** |  
**Alabama 0.2%**

 
Phoenix County, AL, Industrial Development Revenue, Industrial Development Board, AMT, 6.35%, 5/15/2035 

 

4,000,000

 

4,136,360

Southeast Alabama, Gas District Revenue, Supply Project, Series A, 3.98% *, 8/1/2027 

 

3,300,000

 

3,300,000

 

**7,436,360**

**Alaska 0.5%**

 
Anchorage, AK, Core City General Obligation, 5.5%, 7/1/2021 (a) 

 

3,860,000

 

4,169,147

Anchorage, AK, Electric Revenue, 6.5%, 12/1/2015 (a) 

 

5,000,000

 

5,884,850

Anchorage, AK, State General Obligation:

 
 

5.5%, 7/1/2019 (a) 

 

2,500,000 

 

2,700,225 

 

 

 

 

 

5.5%, 7/1/2020 (a) 

 

2,500,000 

 

2,700,225 

North Slope Borough, AK, County General Obligation Lease, Series B, Zero Coupon, 6/30/2011 (a) 

 

5,000,000

 

4,313,500

 

**19,767,947**

**Arizona 0.9%**

 
Mesa, AZ, Electric Revenue:

 
 

5.25%, 7/1/2016 (a) 

 

7,500,000 

 

8,176,875 

 

5.25%, 7/1/2017 (a) 

 

10,000,000 

 

10,930,900 

Phoenix, AZ, Transportation/Tolls Revenue, Series A, Zero Coupon, 7/1/2012 (a) 

 

4,675,000

 

3,877,024

Phoenix, AZ, Water & Sewer Revenue, Civic Improvement Corp., Prerefunded, 6.0%, 7/1/2011 (a) 

 

4,105,000

 

4,397,522

Scottsdale, AZ, General Obligation, 5.375%, 7/1/2015 

 

1,635,000

 

1,734,997

Tucson, AZ, Water & Sewer Revenue, 5.5%, 7/1/2018 (a) 

 

4,100,000

 

4,447,598

 

**33,564,916**

**Arkansas 0.5%**

 
Jonesboro, AR, Hospital & Healthcare Revenue, Healthcare Facilities Authority, Bernard's Regional Medical Center, Series A, 5.8%, 7/1/2012 (a) 

 

4,025,000

 

4,070,966

North Little Rock, AR, Electric Revenue, Series A, 6.5%, 7/1/2015 (a) 

 

13,080,000

 

14,710,945

 

**18,781,911**

**California 14.5%**

 
Banning, CA, Water & Sewer Revenue, 1989 Water System Improvement Project, 8.0%, 1/1/2019 (a) 

 

845,000

 

1,035,725

Banning, CA, Water & Sewer Revenue, Water System Reference & Improvement Project, 8.0%, 1/1/2019 (a) 

 

770,000

 

890,821

California, Department of Water Resources Revenue:

 
 

Prerefunded, Series W, 5.5%, 12/1/2015  

 

565,000 

 

607,567 

 

5.5%, 12/1/2015  

 

2,825,000 

 

3,015,207 

California, Golden State Tobacco Securitization Corp., California Tobacco Settlement Revenue, Series A-1, 6.625%, 6/1/2040 

 

17,545,000

 

20,050,075

California, Higher Education Revenue, Marymount University, Zero Coupon, 10/1/2014 (a) 

 

1,000,000

 

751,190

California, Housing Finance Agency Revenue, Home Mortgage, Series C, AMT, 3.95% *, 8/1/2037 

 

2,700,000

 

2,700,000

California, Public Works Board, Lease Revenue, Department of Corrections, Series C, 5.0%, 6/1/2025 

 

2,500,000

 

2,533,950

California, Senior Care Revenue, Statewide Community Development Authority, California Lutheran Homes, ETM, 5.5%, 11/15/2008 

 

1,190,000

 

1,202,888

California, Special Assessment Revenue, Golden State Tobacco Securitization Corp.:

 
 

Series B, 5.5%, 6/1/2043  

 

9,950,000 

 

10,744,806 

 

Series B, 5.625%, 6/1/2038  

 

37,265,000 

 

40,479,106 

 

Series A-1, 5.75%, 6/1/2047  

 

6,670,000 

 

6,491,644 

 

Series 2003-A-1, 6.75%, 6/1/2039  

 

37,520,000 

 

43,117,234 

California, State Department of Water Resources, Power Supply Revenue, Series C-7, 3.87% *, 5/1/2022 (a) 

 

3,000,000

 

3,000,000

California, State General Obligation:

 
 

5.0%, 5/1/2015  

 

10,450,000 

 

11,116,501 

 

5.0%, 3/1/2017  

 

10,000,000 

 

10,561,100 

 

Series 1, 5.0%, 9/1/2019  

 

12,700,000 

 

13,251,942 

 

5.0%, 6/1/2029 (a) 

 

25,000,000 

 

25,616,500 

 

5.0%, 2/1/2031 (a) 

 

26,975,000 

 

27,440,858 

 

5.125%, 11/1/2024  

 

5,000,000 

 

5,151,400 

 

5.25%, 2/1/2017  

 

17,450,000 

 

18,412,542 

 

6.25%, 10/1/2007 (a) 

 

4,000,000 

 

4,008,400 

California, State General Obligation, Various Purposes:

 
 

5.0%, 6/1/2023 (a) 

 

25,000,000 

 

26,066,250 

 

5.0%, 12/1/2031 (a) 

 

13,545,000 

 

13,827,820 

California, State Public Works Board, Lease Revenue, Department of Mental Health:

 
 

 

 

 

 

Series A, 5.5%, 6/1/2021  

 

5,275,000 

 

5,621,409 

 

Series A, 5.5%, 6/1/2022  

 

1,400,000 

 

1,489,418 

California, State Revenue Lease, 5.25%, 12/1/2020 (a) 

 

22,040,000

 

23,326,254

California, State Revenue Lease, Public Works Board, Department of Corrections:

 
 

Series C, 5.5%, 6/1/2020  

 

5,000,000 

 

5,321,200 

 

Series C, 5.5%, 6/1/2021  

 

2,500,000 

 

2,653,575 

California, State University Revenue:

 
 

Series A, 5.125%, 5/15/2017 (a) 

 

10,000,000 

 

10,666,000 

 

Series A, 5.25%, 11/1/2021 (a) 

 

4,000,000 

 

4,239,600 

Foothill, CA, Eastern Corridor Agency, Toll Road Revenue:

 
 

Series A, ETM, Zero Coupon, 1/1/2015  

 

11,000,000 

 

8,168,380 

 

Series A, ETM, Zero Coupon, 1/1/2017  

 

5,000,000 

 

3,361,400 

Foothill, CA, Transportation/Tolls Revenue, Eastern Corridor Agency:

 
 

Series A, ETM, Zero Coupon, 1/1/2018  

 

21,890,000 

 

13,975,452 

 

Series A, Prerefunded, 6.0%, 1/1/2016  

 

20,400,000 

 

21,492,216 

 

Series A, ETM, 7.05%, 1/1/2009  

 

5,000,000 

 

5,226,450 

 

Series A, Prerefunded, 7.1%, 1/1/2011  

 

4,000,000 

 

4,383,680 

 

Series A, Prerefunded, 7.1%, 1/1/2012  

 

4,000,000 

 

4,383,680 

 

Series A, Prerefunded, 7.15%, 1/1/2014  

 

6,250,000 

 

6,855,875 

Los Angeles County, CA, County General Obligation Lease:

 
 

Zero Coupon, 9/1/2007  

 

4,030,000 

 

4,030,000 

 

Zero Coupon, 9/1/2009  

 

5,425,000 

 

5,009,879 

Los Angeles County, CA, Sanitation Districts Financing Authority Revenue, Capital Project, Series A, 5.0%, 10/1/2019 (a) 

 

20,000,000

 

20,874,400

Los Angeles, CA, Airport Revenue, Regional Airports Improvement Corporation Lease, Series C, AMT, 7.5%, 12/1/2024 

 

2,500,000

 

2,728,500

Los Angeles, CA, School District General Obligation, Unified School District:

 
 

Series A, 5.0%, 7/1/2024 (a) 

 

10,000,000 

 

10,673,300 

 

5.75%, 7/1/2015 (a) 

 

2,000,000 

 

2,249,720 

 

5.75%, 7/1/2016 (a) 

 

17,000,000 

 

19,234,990 

Madera County, CA, Hospital & Healthcare Revenue, Valley Childrens Hospital, 6.5%, 3/15/2010 (a) 

 

2,840,000

 

3,028,178

Murrieta Valley, CA, School District General Obligation, Unified School District, Series A, Zero Coupon, 9/1/2014 (a) 

 

4,235,000

 

3,198,611

Oakland, CA, Special Assessment Revenue, Oakland Convention Centers, 5.5%, 10/1/2014 (a) 

 

2,000,000

 

2,196,320

Roseville, CA, School District General Obligation, Junior High, Series B, Zero Coupon, 8/1/2015 (a) 

 

1,000,000

 

722,960

San Diego, CA, School District General Obligation, Series A, Zero Coupon, 7/1/2014 (a) 

 

3,420,000

 

2,600,363

San Diego, CA, Water & Sewer Revenue, 5.681%, 4/22/2009 (a) 

 

4,500,000

 

4,643,100

San Joaquin County, CA, County General Obligation Lease, Facilities Project, 5.5%, 11/15/2013 (a) 

 

3,895,000

 

4,189,968

San Joaquin Hills, CA, Transportation/Tolls Revenue, Transportation Corridor Agency, Toll Road Revenue:

 
 

Series A, Zero Coupon, 1/15/2012 (a) 

 

5,000,000 

 

4,239,400 

 

Series A, Zero Coupon, 1/15/2013 (a) 

 

35,295,000 

 

28,679,658 

 

Series A, Zero Coupon, 1/15/2014 (a) 

 

14,905,000 

 

11,593,556 

Ukiah, CA, School District General Obligation Lease, Zero Coupon, 8/1/2015 (a) 

 

2,000,000

 

1,445,920

Vallejo City, CA, General Obligation, Unified School District, Series A, 5.9%, 2/1/2022 (a) 

 

3,905,000

 

4,536,634

 

**549,113,572**

**Colorado 2.8%**

 
Colorado, E-40 Public Highway Authority Revenue, Series B, Zero Coupon, 9/1/2016 (a) 

 

5,000,000

 

3,392,350

Colorado, Hospital & Healthcare Revenue, Portercare Adventist Health Project, 6.5%, 11/15/2031 

 

3,000,000

 

3,346,770

Colorado, Transportation/Tolls Revenue:

 
 

Series B, Zero Coupon, 9/1/2014 (a) 

 

11,295,000 

 

8,472,605 

 

Series B, Zero Coupon, 9/1/2015 (a) 

 

21,500,000 

 

15,381,745 

 

Series B, Zero Coupon, 9/1/2017 (a) 

 

8,000,000 

 

5,148,160 

 

 

 

 

 

Series B, Zero Coupon, 9/1/2018 (a) 

 

20,560,000 

 

12,538,105 

 

Series B, Zero Coupon, 9/1/2019 (a) 

 

36,500,000 

 

21,049,550 

 

Series B, Zero Coupon, 9/1/2020 (a) 

 

7,000,000 

 

3,826,620 

 

Series B, Zero Coupon, 9/1/2034  

 

15,200,000 

 

2,229,536 

 

Series A, 5.75%, 9/1/2014 (a) 

 

14,700,000 

 

16,344,342 

Denver, CO, School District General Obligation, Series A, 6.5%, 12/1/2010 

 

3,000,000

 

3,258,150

Douglas County, CO, School District General Obligation, 7.0%, 12/15/2013 (a) 

 

2,500,000

 

2,941,450

Mesa County, CO, Residual Revenue, EMT, Zero Coupon, 12/1/2011 

 

11,435,000

 

9,707,858

 

**107,637,241**

**Connecticut 0.4%**

 
Connecticut, State General Obligation:

 
 

Series C, 5.5%, 12/15/2014  

 

5,000,000 

 

5,525,050 

 

Series A, 5.5%, 12/15/2015  

 

5,000,000 

 

5,556,400 

 

Prerefunded, Series E, ETM, 6.0%, 3/15/2012  

 

170,000 

 

186,606 

Greenwich, CT, Multi-Family Housing Revenue, 6.35%, 9/1/2027 

 

2,640,000

 

2,721,708

 

**13,989,764**

**District of Columbia 0.2%**

 
District of Columbia, Core City General Obligation:

 
 

Series B3, 5.5%, 6/1/2012 (a) 

 

1,050,000 

 

1,129,443 

 

Series A1, 6.5%, 6/1/2010 (a) 

 

1,095,000 

 

1,175,132 

 

Series A1, Prerefunded, 6.5%, 6/1/2010 (a) 

 

1,175,000 

 

1,258,437 

District of Columbia, Water & Sewer Revenue, Public Utility Revenue, 5.5%, 10/1/2023 (a) 

 

5,000,000

 

5,535,000

 

**9,098,012**

**Florida 2.9%**

 
Florida, State Board of Public Education, Series D, 5.375%, 6/1/2019 

 

1,000,000

 

1,059,990

Florida, Village Center Community Development District, Utility Revenue, ETM, 6.0%, 11/1/2018 (a) 

 

1,250,000

 

1,427,487

Florida, Water Pollution Control Financing Corp. Revenue, 5.5%, 1/15/2014 

 

1,000,000

 

1,060,820

Fort Pierce, FL, Utilities Authority Revenue, Series B, Zero Coupon, 10/1/2018 (a) 

 

2,000,000

 

1,232,220

Gainesville, FL, Utilities System Revenue, Series B, 6.5%, 10/1/2010 

 

1,370,000

 

1,480,134

Highlands County, FL, Health Facilities Authority Revenue, Adventist Health Systems:

 
 

5.25%, 11/15/2020  

 

1,000,000 

 

1,027,560 

 

Prerefunded, 5.25%, 11/15/2028  

 

170,000 

 

174,624 

 

5.25%, 11/15/2028  

 

5,130,000 

 

5,271,383 

Highlands County, FL, Health Facilities Authority Revenue, Adventist Sunbelt, Series A, 6.0%, 11/15/2031 

 

7,000,000

 

7,668,360

Hillsborough County, FL, Industrial Development Authority Revenue, University Community Hospital, 6.5%, 8/15/2019 (a) 

 

1,000,000

 

1,176,440

Jacksonville, FL, Health Facilities Authority, Prerefunded, ETM, 11.5%, 10/1/2012 

 

85,000

 

115,056

Jacksonville, FL, Sales & Special Tax Revenue, Local Government:

 
 

5.5%, 10/1/2015 (a) 

 

4,730,000 

 

5,215,771 

 

5.5%, 10/1/2016 (a) 

 

6,760,000 

 

7,487,646 

 

5.5%, 10/1/2018 (a) 

 

6,470,000 

 

7,218,126 

Melbourne, FL, Water & Sewer Revenue, ETM, Zero Coupon, 10/1/2016 (a) 

 

1,350,000

 

927,288

Miami Beach, FL, Stormwater Revenue, 5.75%, 9/1/2017 (a) 

 

725,000

 

771,690

Miami-Dade County, FL, Sales & Special Tax Revenue:

 
 

Series A, Zero Coupon, 10/1/2014 (a) 

 

2,195,000 

 

1,576,756 

 

Series A, Zero Coupon, 10/1/2022 (a) 

 

7,000,000 

 

3,188,430 

Nassau County, FL, ICF/MR-Intercare Facilities Mentally Retarded Revenue, GF/Amelia Island Properties Project, Series A, 9.75%, 1/1/2023 

 

900,000

 

902,538

Orange County, FL, Health Facilities Authority Revenue:

 
 

Series 2006-A, ETM, 6.25%, 10/1/2016 (a) 

 

70,000 

 

80,291 

 

Series 2006-A, 6.25%, 10/1/2016 (a) 

 

1,100,000 

 

1,257,619 

Orange County, FL, Health Facilities Authority Revenue, Orlando Regional Healthcare System:

 
 

5.75%, 12/1/2032  

 

1,000,000 

 

1,093,700 

 

 

 

 

 

Series A, 6.25%, 10/1/2018 (a) 

 

500,000 

 

581,620 

 

Series C, 6.25%, 10/1/2021 (a) 

 

6,000,000 

 

7,062,120 

Orange County, FL, Health Facilities Authority, Orlando Regional Facilities, Series A, ETM, 6.25%, 10/1/2016 (a) 

 

2,830,000

 

3,273,744

Orlando & Orange County, FL, Expressway Authority Revenue, 6.5%, 7/1/2012 (a) 

 

1,000,000

 

1,119,300

Orlando, FL, Electric Revenue, Community Utilities, 6.75%, 10/1/2017 

 

6,500,000

 

7,592,520

Orlando, FL, Special Assessment Revenue, Conroy Road Interchange Project, Series A, 5.8%, 5/1/2026 

 

500,000

 

502,955

Palm Beach County, FL, Airport Systems Revenue:

 
 

5.75%, 10/1/2012 (a) 

 

3,775,000 

 

4,107,691 

 

5.75%, 10/1/2013 (a) 

 

3,770,000 

 

4,143,268 

 

5.75%, 10/1/2014 (a) 

 

755,000 

 

836,261 

Palm Beach County, FL, Airport Systems Revenue, Prerefunded:

 
 

5.75%, 10/1/2012 (a) 

 

1,225,000 

 

1,341,841 

 

5.75%, 10/1/2013 (a) 

 

1,230,000 

 

1,360,195 

 

5.75%, 10/1/2014 (a) 

 

245,000 

 

274,175 

Palm Beach County, FL, Criminal Justice Facilities Revenue, 7.2%, 6/1/2015 (a) 

 

110,000

 

133,062

Sunrise, FL, Water & Sewer Revenue, Utility Systems, 5.5%, 10/1/2018 (a) 

 

12,500,000

 

13,758,750

Tallahassee, FL, Energy System Revenue, 5.5%, 10/1/2016 (a) 

 

1,005,000

 

1,110,776

Tampa, FL, Occupational License Tax, Series A, 5.375%, 10/1/2017 (a) 

 

1,000,000

 

1,065,580

Tampa, FL, Sales Tax Revenue, Series A, 5.375%, 10/1/2017 (a) 

 

500,000

 

533,855

Tampa, FL, Sports Authority Revenue, Sales Tax-Tampa Bay Arena Project, 5.75%, 10/1/2020 (a) 

 

2,075,000

 

2,350,643

Tampa, FL, Utility Tax Revenue, Zero Coupon, 10/1/2014 (a) 

 

3,165,000

 

2,379,194

Tampa, FL, Water Utility Systems Revenue, Prerefunded, 5.625%, 10/1/2013 (a) 

 

1,850,000

 

1,985,568

Westchase, FL, Community Development District, Special Assessment Revenue, 5.8%, 5/1/2012 (a) 

 

2,540,000

 

2,569,413

 

**109,496,460**

**Georgia 3.9%**

 
Atlanta, GA, Airport Revenue, AMT:

 
 

Series B, 5.75%, 1/1/2010 (a) 

 

4,240,000 

 

4,420,794 

 

Series B, 5.75%, 1/1/2011 (a) 

 

1,590,000 

 

1,671,249 

 

Series C, 6.0%, 1/1/2011 (a) 

 

7,375,000 

 

7,792,646 

Atlanta, GA, General Obligation, Series A:

 
 

5.0%, 12/1/2017 (a) 

 

6,510,000 

 

6,944,868 

 

5.0%, 12/1/2019 (a) 

 

7,400,000 

 

7,777,104 

 

5.0%, 12/1/2020 (a) 

 

6,675,000 

 

6,986,789 

Atlanta, GA, Metropolitan Rapid Transit Authority, Sales Tax Revenue, Series A, 5.0%, 7/1/2018 (a) 

 

21,950,000

 

23,333,508

Atlanta, GA, Water & Sewer Revenue, Series A, 5.5%, 11/1/2019 (a) 

 

13,000,000

 

14,088,880

Cobb County, GA, Hospital & Healthcare Revenue, Series A, 5.625%, 4/1/2011 (a) 

 

2,305,000

 

2,383,278

Georgia, Main Street National Gas, Inc. Gas Project Revenue:

 
 

Series B, 5.0%, 3/15/2019  

 

5,000,000 

 

5,075,750 

 

Series B, 5.0%, 3/15/2020  

 

5,000,000 

 

5,048,650 

 

Series A, 5.0%, 3/15/2020  

 

9,950,000 

 

10,273,076 

 

Series A, 5.0%, 3/15/2022  

 

10,000,000 

 

10,254,800 

Georgia, Municipal Electric Authority Power Revenue:

 
 

Series 2005-Y, Prerefunded, 6.4%, 1/1/2013  

 

35,000 

 

37,987 

 

Series 2005-Y, 6.4%, 1/1/2013 (a) 

 

3,270,000 

 

3,583,168 

 

Series Y, Prerefunded,  ETM, 6.4%, 1/1/2013 (a) 

 

195,000 

 

214,502 

 

Series V, 6.5%, 1/1/2012 (a) 

 

5,000,000 

 

5,299,500 

 

Series X, 6.5%, 1/1/2012 (a) 

 

3,500,000 

 

3,699,605 

 

Series W, 6.6%, 1/1/2018 (a) 

 

11,270,000 

 

12,942,243 

Georgia, State General Obligation, Series H-1, 4.0% *, 12/1/2026 

 

15,350,000

 

15,350,000

Georgia, Water & Sewer Revenue, Municipal Electric Authority Power Revenue, Series W, 6.6%, 1/1/2018 (a) 

 

200,000

 

233,612

 

 

 

 

Macon-Bibb County, GA, Hospital & Healthcare Revenue, Series C, 5.25%, 8/1/2011 (a) 

 

2,465,000

 

2,597,987

 

**150,009,996**

**Hawaii 0.0%**

 
Hawaii, State General Obligation, Series CU, Prerefunded, 5.875%, 10/1/2014 (a) 

 

1,500,000

 

**1,595,310**

**Illinois 10.2%**

 
Chicago, IL, Core City General Obligation:

 
 

Zero Coupon, 1/1/2017 (a) 

 

20,000,000 

 

13,311,200 

 

Series B, 5.0%, 1/1/2011 (a) 

 

1,620,000 

 

1,686,679 

 

Series B, 5.125%, 1/1/2015 (a) 

 

9,550,000 

 

10,092,822 

 

Series A, 5.375%, 1/1/2013 (a) 

 

15,410,000 

 

16,179,113 

 

6.25%, 1/1/2011 (a) 

 

3,000,000 

 

3,159,270 

Chicago, IL, Sales & Special Tax Revenue, 5.375%, 1/1/2014 (a) 

 

5,000,000

 

5,405,700

Chicago, IL, School District General Obligation Lease, Board of Education:

 
 

Series A, 6.0%, 1/1/2016 (a) 

 

11,025,000 

 

12,527,818 

 

Series A, 6.0%, 1/1/2020 (a) 

 

46,340,000 

 

53,212,222 

 

Series A, 6.25%, 1/1/2009 (a) 

 

6,735,000 

 

6,955,571 

 

Series A, 6.25%, 1/1/2015 (a) 

 

28,725,000 

 

31,982,989 

Chicago, IL, School District General Obligation Lease, Public Housing Revenue, Series A, 5.25%, 12/1/2011 (a) 

 

9,705,000

 

10,289,047

Chicago, IL, School District General Obligation, Board of Education:

 
 

Series B, Zero Coupon, 12/1/2009 (a) 

 

7,615,000 

 

7,002,754 

 

Series A, Zero Coupon, 12/1/2014 (a) 

 

2,000,000 

 

1,490,180 

Chicago, IL, School District Revenue Lease, Board of Education, 6.25%, 12/1/2011 (a) 

 

1,600,000

 

1,756,672

Chicago, IL, Water & Sewer Revenue:

 
 

Zero Coupon, 11/1/2012 (a) 

 

6,350,000 

 

5,193,348 

 

Zero Coupon, 11/1/2018 (a) 

 

5,165,000 

 

3,125,910 

 

5.375%, 1/1/2013 (a) 

 

3,215,000 

 

3,388,289 

Cook & Du Page Counties, IL, High School District No. 210:

 
 

ETM, Zero Coupon, 12/1/2009 (a) 

 

2,575,000 

 

2,364,314 

 

Zero Coupon, 12/1/2009 (a) 

 

285,000 

 

261,393 

Cook County, IL, County General Obligation, 6.5%, 11/15/2014 (a) 

 

18,560,000

 

21,511,411

Illinois, Development Finance Authority, Hospital Revenue, Adventist Health System, Sunbelt Obligation, 5.5%, 11/15/2020 

 

10,000,000

 

10,453,200

Illinois, Health Facilities Authority, ETM, 7.0%, 2/15/2009 

 

1,575,000

 

1,618,769

Illinois, Health Facilities Authority Revenue, Northwestern Memorial Hospital, Series C,  3.96% *, 8/15/2032 

 

2,350,000

 

2,350,000

Illinois, Higher Education Revenue, Zero Coupon, 4/1/2015 (a) 

 

3,300,000

 

2,411,409

Illinois, Hospital & Healthcare Revenue, Development Finance Authority, Adventist Health System, 5.5%, 11/15/2029 

 

5,475,000

 

5,723,127

Illinois, Hospital & Healthcare Revenue, Health Facilities Authority:

 
 

5.2%, 9/1/2012  

 

1,000,000 

 

1,018,670 

 

6.0%, 8/15/2009 (a) 

 

1,640,000 

 

1,708,601 

 

6.25%, 8/15/2013 (a) 

 

3,400,000 

 

3,672,374 

 

Series A, 6.25%, 1/1/2015 (a) 

 

17,000,000 

 

18,374,280 

 

6.4%, 6/1/2008 (a) 

 

1,350,000 

 

1,376,676 

Illinois, Metropolitan Pier and Exposition Authority:

 
 

Series A, Zero Coupon, 6/15/2011 (a)

 

895,000

 

775,455

 

Series A, ETM, Zero Coupon, 6/15/2011 (a)

 

2,900,000

 

2,507,050

Illinois, Pollution Control Revenue, Development Finance Authority, 5.85%, 1/15/2014 (a) 

 

5,000,000

 

5,519,350

Illinois, Project Revenue, Zero Coupon, 1/1/2014 (a) 

 

17,975,000

 

13,918,042

Illinois, Project Revenue, Metropolitan Pier and Exposition Authority, Zero Coupon, 6/15/2016 (a) 

 

10,000,000

 

6,865,600

Illinois, Sales & Special Tax Revenue:

 
 

6.25%, 12/15/2011 (a) 

 

3,000,000 

 

3,194,040 

 

6.25%, 12/15/2020 (a) 

 

6,975,000 

 

8,129,711 

 

Series A, 6.5%, 12/15/2007 (a) 

 

4,765,000 

 

4,802,215 

 

 

 

 

 

Series A, 6.5%, 12/15/2008 (a) 

 

5,255,000 

 

5,437,821 

 

Series P, 6.5%, 6/15/2013  

 

2,100,000 

 

2,260,713 

Illinois, Sales & Special Tax Revenue, Metropolitan Pier and Exposition Authority, Zero Coupon, 6/15/2013 (a) 

 

7,565,000

 

6,022,194

Illinois, Special Assessment Revenue, Metropolitan Pier and Exposition Authority, Series A, Zero Coupon, 12/15/2018 (a) 

 

6,660,000

 

4,034,362

Illinois, State General Obligation, 5.5%, 5/1/2016 (a) 

 

2,500,000

 

2,766,050

Joliet, IL, Higher Education Revenue, College Assistance Corp., North Campus Extension Center Project, 6.7%, 9/1/2012 (a) 

 

2,045,000

 

2,206,207

Kane Cook & Du Page Counties, IL, School District General Obligation:

 
 

Series B, Zero Coupon, 1/1/2011 (a) 

 

1,040,000 

 

914,358 

 

Series B, Zero Coupon, 1/1/2012 (a) 

 

1,300,000 

 

1,098,253 

 

Series B, Zero Coupon, 1/1/2013 (a) 

 

4,595,000 

 

3,716,160 

Kane County, IL, School District General Obligation, Aurora West Side, Series A, 6.5%, 2/1/2010 (a) 

 

1,775,000

 

1,885,529

Lake Cook Kane & McHenry Counties, IL, School District General Obligation, 6.3%, 12/1/2017 (a) 

 

1,885,000

 

2,219,041

Lake County, IL, Higher Education Revenue, District No. 117:

 
 

Series B, Zero Coupon, 12/1/2013 (a) 

 

5,880,000 

 

4,587,870 

 

Series B, Zero Coupon, 12/1/2014 (a) 

 

5,985,000 

 

4,456,251 

Northern, IL, Higher Education Revenue, University, Auxiliary Facilities System, Zero Coupon, 10/1/2007 (a) 

 

1,865,000

 

1,859,181

Rosemont, IL, Capital Appreciation Tax:

 
 

Series 3, Zero Coupon, 12/1/2007 (a) 

 

555,000 

 

549,833 

 

ETM, Series 3, Zero Coupon, 12/1/2007 (a) 

 

2,100,000 

 

2,080,491 

Skokie, IL, Other General Obligation, Park District, Series B, Zero Coupon, 12/1/2011 (a) 

 

3,000,000

 

2,546,880

University Park, IL, Sales & Special Tax Revenue, Governors Gateway Industrial Park, 8.5%, 12/1/2011 

 

1,390,000

 

1,394,518

Will County, IL, County General Obligation:

 
 

Series B, Zero Coupon, 12/1/2011 (a) 

 

4,145,000 

 

3,518,939 

 

Series B, Zero Coupon, 12/1/2012 (a) 

 

2,480,000 

 

2,022,738 

 

Series B, Zero Coupon, 12/1/2013 (a) 

 

12,030,000 

 

9,386,408 

 

Series B, Zero Coupon, 12/1/2014 (a) 

 

10,255,000 

 

7,635,565 

Will County, IL, School District General Obligation, Community Unit School District No. 365-U, Series B, Zero Coupon, 11/1/2015 (a) 

 

8,000,000

 

5,701,840

Winnebago County, IL, School District General Obligation, District No. 122 Harlem-Loves, 6.55%, 6/1/2010 (a) 

 

1,825,000

 

1,955,488

 

**385,571,961**

**Indiana 1.4%**

 
Indiana, Electric Revenue, Municipal Power Agency:

 
 

Series B, 5.5%, 1/1/2016 (a) 

 

10,160,000 

 

11,082,223 

 

Series B, 6.0%, 1/1/2012 (a) 

 

1,750,000 

 

1,903,475 

Indiana, Health Facilities Financing Authority, ETM, 6.0%, 7/1/2010 (a) 

 

1,035,000

 

1,097,700

Indiana, Hospital & Healthcare Revenue, Health Facilities Finance Authority, Greenwood Village South Project, 5.625%, 5/15/2028 

 

2,100,000

 

2,033,955

Indiana, Hospital & Healthcare Revenue, Health Facilities Financing Authority:

 
 

Series D, 5.75%, 11/15/2012  

 

4,660,000 

 

4,859,961 

 

Prerefunded, ETM, 6.0%, 7/1/2008 (a) 

 

945,000 

 

962,426 

 

ETM, 6.0%, 7/1/2008 (a) 

 

300,000 

 

305,505 

 

Prerefunded, ETM, 6.0%, 7/1/2009 (a) 

 

980,000 

 

1,018,573 

 

ETM, 6.0%, 7/1/2009 (a) 

 

310,000 

 

322,146 

 

ETM, 6.0%, 7/1/2010 (a) 

 

325,000 

 

344,149 

 

Prerefunded, ETM, 6.0%, 7/1/2011 (a) 

 

1,100,000 

 

1,188,154 

 

ETM, 6.0%, 7/1/2011 (a) 

 

345,000 

 

371,372 

 

Prerefunded, ETM, 6.0%, 7/1/2012 (a) 

 

1,165,000 

 

1,280,090 

 

ETM, 6.0%, 7/1/2012 (a) 

 

370,000 

 

403,307 

 

Prerefunded, ETM, 6.0%, 7/1/2013 (a) 

 

1,230,000 

 

1,367,256 

 

 

 

 

 

ETM, 6.0%, 7/1/2013 (a) 

 

390,000 

 

429,667 

 

Prerefunded, ETM, 6.0%, 7/1/2014 (a) 

 

1,310,000 

 

1,475,636 

 

ETM, 6.0%, 7/1/2014 (a) 

 

410,000 

 

455,346 

 

Prerefunded, ETM, 6.0%, 7/1/2015 (a) 

 

1,385,000 

 

1,572,113 

 

ETM, 6.0%, 7/1/2015 (a) 

 

440,000 

 

492,840 

 

Prerefunded, ETM, 6.0%, 7/1/2016 (a) 

 

1,470,000 

 

1,679,240 

 

ETM, 6.0%, 7/1/2016 (a) 

 

465,000 

 

524,562 

 

Prerefunded, ETM, 6.0%, 7/1/2017 (a) 

 

1,560,000 

 

1,791,660 

 

ETM, 6.0%, 7/1/2017 (a) 

 

490,000 

 

554,930 

 

Prerefunded, ETM, 6.0%, 7/1/2018 (a) 

 

1,655,000 

 

1,909,704 

 

ETM, 6.0%, 7/1/2018 (a) 

 

520,000 

 

590,325 

Indiana, Transportation/Tolls Revenue, Series A, 7.25%, 6/1/2015 

 

3,120,000

 

3,632,148

Indiana, Transportation/Tolls Revenue, Transportation Authority:

 
 

Series A, 5.75%, 6/1/2012 (a) 

 

4,550,000 

 

4,937,114 

 

Series A, Prerefunded, ETM, 7.25%, 6/1/2015  

 

880,000 

 

957,774 

Indiana, Transportation/Tolls Revenue, Transportation Finance Authority, Series A, ETM, 5.75%, 6/1/2012 (a) 

 

450,000

 

479,241

Merrillville, IN, School District Revenue Lease, Multiple School Building Corp., First Mortgage, Zero Coupon, 1/15/2011 (a) 

 

4,000,000

 

3,513,840

 

**53,536,432**

**Iowa 0.5%**

 
Iowa, Project Revenue:

 
 

5.5%, 2/15/2015 (a) 

 

10,530,000 

 

11,598,584 

 

5.5%, 2/15/2016 (a) 

 

6,645,000 

 

7,350,500 

 

**18,949,084**

**Kansas 0.6%**

 
Johnson County, KS, School District General Obligation, Series B, 5.5%, 9/1/2015 (a) 

 

1,860,000

 

2,064,451

Kansas, Pollution Control Revenue, Development Financing Authority:

 
 

Series II, 5.5%, 5/1/2014  

 

2,000,000 

 

2,198,220 

 

Series II, 5.5%, 11/1/2015  

 

1,000,000 

 

1,107,830 

 

Series II, 5.5%, 11/1/2017  

 

1,000,000 

 

1,116,000 

Overland Park, KS, Industrial Development Revenue, Series A, 7.375%, 1/1/2032 

 

12,000,000

 

12,648,360

Saline County, KS, Unified School District No. 305:

 
 

Prerefunded, 5.5%, 9/1/2017 (a) 

 

2,465,000 

 

2,610,238 

 

5.5%, 9/1/2017 (a) 

 

775,000 

 

824,143 

 

**22,569,242**

**Kentucky 2.2%**

 
Kentucky, Economic Development Finance Authority, Health Systems Revenue, Norton Healthcare:

 
 

Series C, Prerefunded, 5.6%, 10/1/2012 (a) 

 

4,560,000 

 

4,954,668 

 

Series C, 5.6%, 10/1/2012 (a) 

 

9,110,000 

 

9,819,760 

 

Series C, Prerefunded, 5.7%, 10/1/2013 (a) 

 

2,750,000 

 

3,028,960 

 

Series C, 5.7%, 10/1/2013 (a) 

 

5,495,000 

 

5,997,573 

 

Series C, Prerefunded, 5.8%, 10/1/2014 (a) 

 

1,710,000 

 

1,906,257 

 

Series C, 5.8%, 10/1/2014 (a) 

 

3,420,000 

 

3,758,751 

 

Series C, Prerefunded, 5.85%, 10/1/2015 (a) 

 

1,745,000 

 

1,949,968 

 

Series C, 5.85%, 10/1/2015 (a) 

 

3,490,000 

 

3,829,193 

 

Series C, Prerefunded, 5.9%, 10/1/2016 (a) 

 

2,170,000 

 

2,430,726 

 

Series C, 5.9%, 10/1/2016 (a) 

 

4,330,000 

 

4,749,880 

Kentucky, Project Revenue:

 
 

5.5%, 8/1/2017 (a) 

 

6,770,000 

 

7,529,255 

 

5.5%, 8/1/2018 (a) 

 

5,000,000 

 

5,562,000 

 

5.5%, 8/1/2019 (a) 

 

6,870,000 

 

7,651,875 

 

5.5%, 8/1/2020 (a) 

 

4,320,000 

 

4,818,139 

 

 

 

 

Kentucky, State Agency Revenue Lease, Property and Buildings Project No. 69, Series A, 5.375%, 8/1/2016 (a) 

 

2,095,000

 

2,214,268

Kentucky, State Agency Revenue Lease, Property and Buildings Project No. 71:

 
 

5.5%, 8/1/2014  

 

4,250,000 

 

4,643,252 

 

5.5%, 8/1/2015  

 

4,000,000 

 

4,390,200 

Kentucky, State Revenue Lease, Property and Buildings Project No. 68, Prerefunded, 5.75%, 10/1/2015 

 

5,375,000

 

5,697,124

 

**84,931,849**

**Louisiana 0.4%**

 
Jefferson, LA, Sales & Special Tax Revenue:

 
 

5.75%, 12/1/2015 (a) 

 

2,335,000 

 

2,564,274 

 

5.75%, 12/1/2016 (a) 

 

2,465,000 

 

2,707,038 

 

5.75%, 12/1/2017 (a) 

 

2,610,000 

 

2,866,276 

 

5.75%, 12/1/2018 (a) 

 

2,760,000 

 

3,031,004 

Louisiana, Public Facilities Authority, Centenary College Louisiana Project:

 
 

Prerefunded, 5.75%, 2/1/2012  

 

1,000,000 

 

1,017,690 

 

Prerefunded, 5.9%, 2/1/2017  

 

1,000,000 

 

1,018,310 

Orleans, LA, Sales & Special Tax Revenue, Levee District Improvement Project, 5.95%, 11/1/2014 (a) 

 

1,170,000

 

1,189,270

 

**14,393,862**

**Maine 0.1%**

 
Maine, Transportation/Tolls Revenue, Turnpike Authority, 5.625%, 7/1/2017 (a) 

 

4,350,000

 

**4,615,263**

**Maryland 1.3%**

 
Baltimore, MD, Sales & Special Tax Revenue, Series A, 5.9%, 7/1/2012 (a) 

 

3,100,000

 

3,383,805

Maryland, Hospital & Healthcare Revenue, University of Maryland Medical System, 6.75%, 7/1/2030 

 

4,000,000

 

4,365,040

Maryland, Project Revenue, Economic Development Corp., Chesapeake Bay, Series B, 7.75%, 12/1/2031 

 

37,000,000

 

40,455,800

 

**48,204,645**

**Massachusetts 5.6%**

 
Massachusetts, Airport Revenue, Port Authority, Series B, AMT, 5.5%, 7/1/2012 (a) 

 

3,025,000

 

3,125,612

Massachusetts, Airport Revenue, Port Authority, Delta Air Lines, Inc. Project, Series A, AMT, 5.5%, 1/1/2017 (a) 

 

4,000,000

 

4,164,960

Massachusetts, Bay Transportation Authority Revenue, Series B, 6.2%, 3/1/2016 

 

17,450,000

 

19,615,370

Massachusetts, Higher Education Revenue, College Building Authority Project, Series A, 7.5%, 5/1/2014 

 

5,500,000

 

6,480,980

Massachusetts, Hospital & Healthcare Revenue, Health & Educational Facilities Authority, Massachusetts General Hospital, Series F, 6.25%, 7/1/2012 (a) 

 

760,000

 

805,395

Massachusetts, Industrial Development Revenue, Development Finance Agency, Series A, 7.1%, 7/1/2032 

 

4,755,000

 

4,883,480

Massachusetts, Port Authority Revenue, ETM, 13.0%, 7/1/2013 

 

1,055,000

 

1,363,197

Massachusetts, Port Authority Revenue, Delta Air Lines, Inc. Project, Series A, AMT, 5.5%, 1/1/2018 (a) 

 

5,000,000

 

5,204,600

Massachusetts, Project Revenue, 9.2%, 12/15/2031 

 

17,000,000

 

21,323,100

Massachusetts, Project Revenue, Health & Educational Facilities Authority, Series B, 9.15%, 12/15/2023 

 

3,000,000

 

3,756,000

Massachusetts, Sales & Special Tax Revenue, Federal Highway Grant, Series A, Zero Coupon, 12/15/2014 

 

27,680,000

 

20,547,694

Massachusetts, State General Obligation, College Building Authority Project, Series A, 7.5%, 5/1/2010 

 

4,110,000

 

4,500,655

Massachusetts, State General Obligation, Consolidated Loan:

 
 

Series D, 5.5%, 11/1/2018 (a) 

 

4,000,000 

 

4,461,360 

 

Series D, 5.5%, 11/1/2019 (a) 

 

7,500,000 

 

8,373,150 

 

Series D, 5.5%, 11/1/2020 (a) 

 

2,000,000 

 

2,236,040 

Massachusetts, State General Obligation, Transportation Authority, Series A, 5.875%, 3/1/2015 

 

10,075,000

 

11,179,119

 

 

 

 

Massachusetts, State Health & Educational Facilities Authority Revenue, Massachusetts Institute of Technology, Series K, 5.5%, 7/1/2022 

 

9,000,000

 

10,201,320

Massachusetts, State Water Resource Authority:

 
 

Prerefunded, Series C, 6.0%, 12/1/2011  

 

6,095,000 

 

6,495,990 

 

Series C, 6.0%, 12/1/2011  

 

3,905,000 

 

4,156,951 

Massachusetts, Transportation/Tolls Revenue, Turnpike Authority, Series C, Zero Coupon, 1/1/2018 (a) 

 

10,000,000

 

6,345,800

Massachusetts, Water & Sewer Revenue, Water Authority:

 
 

Series J, 5.5%, 8/1/2020 (a) 

 

34,315,000 

 

38,380,298 

 

Series J, 5.5%, 8/1/2021 (a) 

 

5,685,000 

 

6,371,464 

Massachusetts, Water & Sewer Revenue, Water Resource Authority:

 
 

Series A, 6.5%, 7/15/2009  

 

2,625,000 

 

2,758,718 

 

Series A, 6.5%, 7/15/2019  

 

13,710,000 

 

15,983,941 

 

**212,715,194**

**Michigan 1.5%**

 
Detroit, MI, Core City General Obligation, Series B, 6.0%, 4/1/2016 (a) 

 

2,865,000

 

3,053,717

Detroit, MI, School District General Obligation:

 
 

Series C, 5.25%, 5/1/2014 (a) 

 

1,000,000 

 

1,074,760 

 

Series A, 5.5%, 5/1/2017 (a) 

 

3,295,000 

 

3,550,560 

Detroit, MI, Sewer Disposal Revenue, Series D, 4.191% *, 7/1/2032 (a) 

 

6,405,000

 

6,309,694

Detroit, MI, State General Obligation:

 
 

Series A-1, 5.375%, 4/1/2016 (a) 

 

2,760,000 

 

2,924,275 

 

Series A-1, 5.375%, 4/1/2018 (a) 

 

3,000,000 

 

3,161,400 

Detroit, MI, Water & Sewer Revenue, Series A, Zero Coupon, 7/1/2015 (a) 

 

8,710,000

 

6,303,950

Grand Rapids, MI, Water & Sewer Revenue, Water Supply, 5.75%, 1/1/2016 (a) 

 

2,955,000

 

3,136,496

Michigan, Electric Revenue, Series A, 5.25%, 1/1/2018 (a) 

 

11,000,000

 

11,925,980

Michigan, Hospital & Healthcare Revenue, Hospital Finance Authority, Gratiot Community Hospital, 6.1%, 10/1/2007 

 

430,000

 

430,456

Michigan, Sales & Special Tax Revenue, State Trunk Line, Series A, 5.5%, 11/1/2017 

 

7,000,000

 

7,781,200

Michigan, State General Obligation, 5.5%, 12/1/2015 

 

5,875,000

 

6,491,699

Tawas City, MI, Hospital Finance Authority, St. Joseph Health Services, Series A, ETM, 5.6%, 2/15/2013 

 

1,510,000

 

1,553,865

 

**57,698,052**

**Minnesota 0.3%**

 
University of Minnesota, Higher Education Revenue:

 
 

Series A, 5.75%, 7/1/2017  

 

3,240,000 

 

3,670,272 

 

Series A, 5.75%, 7/1/2018  

 

6,760,000 

 

7,686,120 

 

**11,356,392**

**Mississippi 0.2%**

 
Mississippi, State General Obligation, 5.5%, 12/1/2015 

 

6,000,000

 

**6,638,760**

**Missouri 1.3%**

 
Missouri, Hospital & Healthcare Revenue, Health & Educational Facilities Authority, Washington University, Series A, 5.5%, 6/15/2016 

 

11,400,000

 

12,688,086

Missouri, Transportation/Tolls Revenue:

 
 

Series A, 5.625%, 2/1/2014  

 

2,000,000 

 

2,125,400 

 

Series A, 5.625%, 2/1/2016  

 

3,125,000 

 

3,320,937 

Missouri, Water & Sewer Revenue, Environmental Improvement and Energy Resource Authority:

 
 

Series B, 5.5%, 7/1/2014  

 

3,000,000 

 

3,291,930 

 

Series B, 5.5%, 7/1/2015  

 

3,500,000 

 

3,863,475 

 

Series B, 5.5%, 7/1/2016  

 

5,065,000 

 

5,611,463 

St. Louis, MO, Airport Revenue, Series A, 5.625%, 7/1/2017 (a) 

 

6,000,000

 

6,412,260

St. Louis, MO, Industrial Development Authority Revenue, Convention Center Hotel, Zero Coupon, 7/15/2016 (a) 

 

6,895,000

 

4,737,486

 

 

 

 

St. Louis, MO, Special Assessment Revenue, Scullin Redevelopment Area, Series A, 10.0%, 8/1/2010 

 

2,925,000

 

3,202,378

St. Louis, MO, State General Obligation Lease, Industrial Development Authority, Convention Center Hotel, Zero Coupon, 7/15/2015 (a) 

 

4,200,000

 

3,032,610

 

**48,286,025**

**Montana 0.1%**

 
Montana, State Board of Regents Higher Education Revenue, University of Montana:

 
 

Series F, Prerefunded, 6.0%, 5/15/2019 (a) 

 

455,000 

 

490,226 

 

Series F, 6.0%, 5/15/2019 (a) 

 

4,545,000 

 

4,878,512 

 

**5,368,738**

**Nebraska 0.4%**

 
Omaha, NE, Core City General Obligation, Series A, ETM, 6.5%, 12/1/2018 

 

1,000,000

 

1,208,950

Omaha, NE, Public Power District, Electric Revenue, Series B, ETM, 6.2%, 2/1/2017 

 

4,700,000

 

5,335,017

Omaha, NE, School District General Obligation, ETM:

 
 

Series A, 6.5%, 12/1/2015  

 

1,480,000 

 

1,746,592 

 

Series A, 6.5%, 12/1/2016  

 

1,000,000 

 

1,190,520 

 

Series A, 6.5%, 12/1/2017  

 

4,000,000 

 

4,802,080 

 

**14,283,159**

**Nevada 1.0%**

 
Clark County, NV, Airport Revenue, Airport Jet Aviation Fuel, AMT:

 
 

Series C, 5.375%, 7/1/2018 (a) 

 

1,500,000 

 

1,564,245 

 

Series C, 5.375%, 7/1/2019 (a) 

 

1,100,000 

 

1,143,109 

 

Series C, 5.375%, 7/1/2020 (a) 

 

1,100,000 

 

1,141,349 

Henderson, NV, Health Care Facility Revenue, Catholic West:

 
 

Series A, Prerefunded, 5.375%, 7/1/2026  

 

3,410,000 

 

3,479,871 

 

Series A, 5.375%, 7/1/2026  

 

11,590,000 

 

11,857,265 

Las Vegas, NV, Transportation/Tolls Revenue, Monorail Department Business and Industry:

 
 

Zero Coupon, 1/1/2013 (a) 

 

5,000,000 

 

4,041,600 

 

7.375%, 1/1/2040  

 

15,000,000 

 

15,089,700 

 

**38,317,139**

**New Jersey 6.5%**

 
Atlantic City, NJ, School District General Obligation, Board of Education, 6.1%, 12/1/2014 (a) 

 

4,500,000

 

5,124,825

New Jersey, Economic Development Authority Revenue, Cigarette Tax:

 
 

5.5%, 6/15/2031  

 

3,000,000 

 

3,056,670 

 

5.75%, 6/15/2034  

 

2,455,000 

 

2,553,249 

New Jersey, Economic Development Authority Revenue, Motor Vehicle Surplus Revenue:

 
 

Series A, 5.0%, 7/1/2022 (a) 

 

7,140,000 

 

7,381,546 

 

Series A, 5.0%, 7/1/2023 (a) 

 

8,845,000 

 

9,117,868 

New Jersey, Economic Development Authority Revenue, School Facilities Construction, Series K, 5.25%, 12/15/2016 (a) 

 

10,000,000

 

10,870,200

New Jersey, Garden State Preservation Trust, Open Space & Farm Land, Series 2005-A, 5.8%, 11/1/2023 (a) 

 

5,000,000

 

5,570,600

New Jersey, Highway Authority Revenue, Garden State Parkway, ETM, 6.5%, 1/1/2011 

 

1,875,000

 

1,951,106

New Jersey, Industrial Development Revenue, Economic Development Authority, Harrogate, Inc., Series A, 5.875%, 12/1/2026 

 

1,000,000

 

1,003,960

New Jersey, Resource Recovery Revenue, Tobacco Settlement Financing Corp., 5.75%, 6/1/2032 

 

7,960,000

 

8,522,852

New Jersey, Special Assessment Revenue, 6.75%, 6/1/2039 

 

25,480,000

 

29,278,049

New Jersey, State Agency General Obligation Lease, Transportation Trust Fund Authority, Series A, 5.625%, 6/15/2014 

 

3,555,000

 

3,936,452

New Jersey, State General Obligation:

 
 

5.25%, 7/1/2016  

 

5,000,000 

 

5,457,100 

 

Series H, 5.25%, 7/1/2017  

 

14,665,000 

 

15,943,495 

New Jersey, State Transportation Trust Fund Authority, Series B, 5.25%, 12/15/2015 (a) 

 

10,000,000

 

10,915,200

New Jersey, State Turnpike Authority Revenue:

 
 

Series C-2005, Prerefunded, ETM, 6.5%, 1/1/2016 (a) 

 

2,725,000 

 

3,116,746 

 

 

 

 

 

Series C-2005, 6.5%, 1/1/2016 (a) 

 

8,025,000 

 

9,139,030 

New Jersey, Tobacco Settlement Financing Corp.:

 
 

Series 1-A, 5.0%, 6/1/2041  

 

25,000,000 

 

21,671,250 

 

6.25%, 6/1/2043  

 

18,000,000 

 

20,222,820 

New Jersey, Transportation/Tolls Revenue:

 
 

Series C, 5.5%, 12/15/2015 (a) 

 

5,000,000 

 

5,545,200 

 

Series A, 5.75%, 6/15/2017  

 

8,000,000 

 

8,959,040 

New Jersey, Transportation/Tolls Revenue, Federal Transportation Administration Grants, Series B, 5.75%, 9/15/2013 (a) 

 

11,000,000

 

11,653,730

New Jersey, Turnpike Authority Revenue, Series C, Prerefunded, ETM, 6.5%, 1/1/2016 (a) 

 

38,720,000

 

44,286,387

 

**245,277,375**

**New Mexico 0.1%**

 
Albuquerque, NM, Hospital & Healthcare Revenue, Southwest Community Health Services, Prerefunded, 10.125%, 8/1/2012 

 

2,235,000

 

2,352,941

New Mexico, Single Family Housing Revenue, Mortgage Finance Authority, Series E2, AMT, 6.8%, 3/1/2031 

 

2,480,000

 

2,497,658

 

**4,850,599**

**New York 6.2%**

 
New York, Electric Revenue, ETM, Zero Coupon, 6/1/2009 (a) 

 

2,050,000

 

1,922,613

New York, Higher Education Revenue, 5.75%, 7/1/2013 

 

10,000,000

 

10,709,000

New York, Higher Education Revenue, Dormitory Authority, Series B, 5.25%, 5/15/2019 (a) 

 

11,860,000

 

12,848,412

New York, Higher Education Revenue, Dormitory Authority, City University:

 
 

Series A, 5.625%, 7/1/2016 (a) 

 

5,075,000 

 

5,576,309 

 

Series B, 6.0%, 7/1/2014 (a) 

 

7,000,000 

 

7,584,360 

New York, School District General Obligation, Dormitory Authority, City University, Series A, 5.5%, 5/15/2019 

 

1,500,000

 

1,643,970

New York, Senior Care Revenue, Dormitory Authority, City University, Series A, 5.25%, 5/15/2021 

 

2,000,000

 

2,149,300

New York, Senior Care Revenue, Metropolitan Transportation Authority, Series O, ETM, 5.75%, 7/1/2013 (a) 

 

6,775,000

 

7,202,638

New York, State Agency General Obligation Lease, Dormitory Authority, City University:

 
 

Prerefunded, 5.25%, 5/15/2017 (a) 

 

3,500,000 

 

3,680,110 

 

Series D, ETM, 7.0%, 7/1/2009 (a) 

 

1,175,000 

 

1,219,074 

 

Series C, 7.5%, 7/1/2010 (a) 

 

3,185,000 

 

3,376,291 

New York, State Agency General Obligation Lease, Metropolitan Transportation Authority, Series A, ETM, 6.0%, 4/1/2020 (a) 

 

5,000,000

 

5,764,400

New York, State Agency General Obligation Lease, Urban Development Authority, Correctional Facilities, Series A, 6.5%, 1/1/2011 (a) 

 

4,500,000

 

4,895,145

New York, State Agency General Obligation Lease, Urban Development Corp., 5.7%, 4/1/2020 

 

3,600,000

 

4,037,256

New York, State Dormitory Authority, Personal Income Tax Revenue, Series F, 5.0%, 3/15/2019 (a) 

 

3,000,000

 

3,141,810

New York, State Energy Research & Development Authority Facilities Revenue, Consolidated Edison Co., Series C-2, AMT, 3.95% *, 11/1/2039, Citibank NA (b) 

 

1,500,000

 

1,500,000

New York, State General Obligation Lease, Urban Development Corp., State Facilities, 5.6%, 4/1/2015 

 

4,655,000

 

5,069,574

New York, State General Obligation, Tobacco Settlement Financing Corp.:

 
 

Series A-1, 5.25%, 6/1/2022 (a) 

 

2,600,000 

 

2,725,138 

 

Series A-1, 5.5%, 6/1/2019  

 

6,850,000 

 

7,287,646 

New York, Tobacco Settlement Financing Corp., Series B-1C, 5.5%, 6/1/2019 

 

10,000,000

 

10,638,900

New York, Transportation/Tolls Revenue, Metropolitan Transportation Authority:

 
 

Series C, Prerefunded, 5.125%,  7/1/2013 (a) 

 

5,000,000 

 

5,322,727 

 

5.5%, 11/15/2018 (a) 

 

5,000,000 

 

5,379,400 

New York, Transportation/Tolls Revenue, Transportation Authority:

 
 

Series E, 5.5%, 11/15/2020 (a) 

 

3,750,000 

 

4,034,550 

 

Series E, 5.5%, 11/15/2021 (a) 

 

6,000,000 

 

6,455,280 

New York, Transportation/Tolls Revenue, Triborough Bridge and Tunnel Authority, Series Y, ETM, 5.5%, 1/1/2017 

 

5,050,000

 

5,550,253

 

 

 

 

New York, Water & Sewer Revenue, Environmental Facilities Corp., State Water Pollution Control, Series E, 6.875%, 6/15/2014 

 

4,560,000

 

4,571,491

New York &  New Jersey, Port Authority Revenue, Special Project - KIAC, Series 4, AMT, 7.0%, 10/1/2007 

 

400,000

 

400,356

New York City, NY, Industrial Development Agency Revenue, Liberty-7, World Trade Center, Series A, 6.25%, 3/1/2015 

 

10,000,000

 

10,453,400

New York City, NY, Industrial Development Agency, Special Facility Revenue, American Airlines, JFK International Airport, AMT, 7.75%, 8/1/2031 

 

16,500,000

 

18,956,520

New York, NY, Core City General Obligation:

 
 

Series G, Zero Coupon, 8/1/2009 (a) 

 

4,995,000 

 

4,650,795 

 

Series F, 5.25%, 8/1/2016  

 

5,000,000 

 

5,270,600 

 

Series A, 5.75%, 8/1/2016  

 

6,350,000 

 

6,889,687 

New York, NY, General Obligation:

 
 

Series J-1, 5.0%, 6/1/2018  

 

4,170,000 

 

4,397,849 

 

Series D, 5.0%, 8/1/2019  

 

6,930,000 

 

7,235,821 

 

Series C, Prerefunded, 5.375%, 11/15/2017 (a) 

 

1,490,000 

 

1,509,623 

 

Series C, 5.375%, 11/15/2017 (a) 

 

3,510,000 

 

3,556,051 

 

Series A, Prerefunded, 6.5%, 5/15/2012  

 

6,230,000 

 

6,743,726 

 

Series A, 6.5%, 5/15/2012  

 

770,000 

 

829,837 

 

Series G, Prerefunded, ETM, 6.75%, 2/1/2009  

 

105,000 

 

109,512 

 

Series G, 6.75%, 2/1/2009  

 

1,895,000 

 

1,974,306 

New York, NY, State General Obligation, Series A, 5.25%, 3/15/2015 

 

2,500,000

 

2,645,750

New York, NY, Water & Sewer Revenue, Municipal Water Finance Authority, Series A, 5.375%, 6/15/2019 

 

25,000,000

 

26,567,000

 

**236,476,480**

**North Carolina 1.5%**

 
Charlotte, NC, Core City General Obligation, 5.5%, 8/1/2018 

 

4,165,000

 

4,468,295

Charlotte, NC, Water & Sewer Revenue:

 
 

5.5%, 6/1/2014  

 

3,105,000 

 

3,320,922 

 

5.5%, 6/1/2017  

 

3,255,000 

 

3,477,837 

North Carolina, Electric Revenue, 5.25%, 1/1/2020 (a) 

 

4,000,000

 

4,176,240

North Carolina, Electric Revenue, Catawba Municipal Power Agency, 6.0%, 1/1/2011 (a) 

 

8,235,000

 

8,824,708

North Carolina, Electric Revenue, Eastern Municipal Power Agency:

 
 

6.0%, 1/1/2018 (a) 

 

8,775,000 

 

10,051,850 

 

Series B, 6.0%, 1/1/2022 (a) 

 

18,775,000 

 

21,714,039 

 

**56,033,891**

**Ohio 2.3%**

 
Akron, Bath & Copley, OH, Joint Township Hospital District Revenue, Health Care Facility, Summner Project, 4.05% *, 12/1/2032, KBC Bank NV (b) 

 

2,130,000

 

2,130,000

Akron, OH, Higher Education Revenue, Prerefunded, 5.75%, 1/1/2013 (a) 

 

2,365,000

 

2,495,903

Akron, OH, Project Revenue, Economic Development, 6.0%, 12/1/2012 (a) 

 

1,000,000

 

1,083,360

Avon, OH, School District General Obligation, 6.5%, 12/1/2015 (a) 

 

940,000

 

1,107,799

Beavercreek, OH, School District General Obligation, Local School District, 6.6%, 12/1/2015 (a) 

 

1,500,000

 

1,725,105

Big Walnut, OH, School District General Obligation, Local School District, Zero Coupon, 12/1/2012 (a) 

 

420,000

 

341,783

Cincinnati, OH, Higher Education Revenue, General Receipts:

 
 

Series T, 5.5%, 6/1/2012  

 

1,280,000 

 

1,375,117 

 

Series A, 5.75%, 6/1/2015 (a) 

 

2,000,000 

 

2,161,680 

 

Series A, 5.75%, 6/1/2016 (a) 

 

1,500,000 

 

1,621,260 

Cincinnati, OH, Water & Sewer Revenue, 5.5%, 12/1/2017 

 

1,000,000

 

1,063,440

Cleveland, OH, Electric Revenue, Public Power Systems Revenue, Series 1, 6.0%, 11/15/2011 (a) 

 

1,050,000

 

1,144,689

Cleveland, OH, Sales & Special Tax Revenue, Urban Renewal Tax Increment, Rock & Roll Hall of Fame and Museum Project, 6.75%, 3/15/2018 

 

1,000,000

 

1,021,770

Cleveland, OH, Water & Sewer Revenue, Series J, 5.375%, 1/1/2016 (a) 

 

2,000,000

 

2,123,840

 

 

 

 

Cuyahoga County, OH, County General Obligation:

 
 

Prerefunded, 5.0%, 12/1/2020  

 

1,000,000 

 

1,039,560 

 

5.65%, 5/15/2018  

 

500,000 

 

560,815 

Dublin City, OH, School District General Obligation, Capital Appreciation, ETM, Zero Coupon, 12/1/2011 (a) 

 

1,095,000

 

932,338

Fayette County, OH, School District General Obligation, Rattlesnake Improvement Area Project, 5.9%, 12/1/2013 

 

75,000

 

77,825

Finneytown, OH, Other General Obligation, Local School District, 6.2%, 12/1/2017 (a) 

 

320,000

 

372,838

 

 

 

 

 

Franklin County, OH, Hospital & Healthcare Revenue, Presbyterian Services:

 
 

5.25%, 7/1/2008  

 

500,000 

 

503,125 

 

5.5%, 7/1/2017  

 

1,000,000 

 

1,013,250 

Franklin County, OH, School District General Obligation, 6.5%, 12/1/2013 

 

500,000

 

556,730

Green Springs, OH, Senior Care Revenue, Hospital & Healthcare Facilities Revenue, Series A, 7.0%, 5/15/2014 

 

3,555,000

 

3,497,764

Green Springs, OH, Senior Care Revenue, St. Francis Health Care Center Project, Series A, 7.125%, 5/15/2025 

 

4,405,000

 

4,262,674

Hilliard, OH, School District General Obligation, Series A, Zero Coupon, 12/1/2012 (a) 

 

1,655,000

 

1,350,546

Huber Heights, OH, Water & Sewer Revenue, Zero Coupon, 12/1/2012 (a) 

 

1,005,000

 

820,120

Liberty Benton, OH, School District General Obligation, Zero Coupon, 12/1/2014 (a) 

 

570,000

 

425,762

Liberty, OH, School District General Obligation, Zero Coupon, 12/1/2012 (a) 

 

255,000

 

208,090

Lorain County, OH, Lakeland Community Hospital, Inc., ETM, 6.5%, 11/15/2012 

 

625,000

 

646,388

Napoleon, OH, Hospital & Healthcare Revenue, Lutheran Orphans Home, 6.875%, 8/1/2023 

 

285,000

 

285,530

North Olmstead, OH, Other General Obligation, 6.2%, 12/1/2011 (a) 

 

2,000,000

 

2,122,640

Ohio, Higher Education Revenue, Series A, 6.5%, 7/1/2008 

 

2,325,000

 

2,377,894

Ohio, Higher Education Revenue, Case Western Reserve University:

 
 

6.0%, 10/1/2014  

 

1,000,000 

 

1,125,550 

 

Series B, 6.5%, 10/1/2020  

 

2,250,000 

 

2,670,818 

Ohio, Higher Education Revenue, General Receipts:

 
 

Series A, 6.0%, 12/1/2016  

 

1,000,000 

 

1,058,690 

 

Series A, 6.0%, 12/1/2017  

 

1,060,000 

 

1,122,211 

Ohio, Higher Education Revenue, University of Ohio, General Receipts, 5.75%, 6/1/2016 (a) 

 

1,250,000

 

1,328,825

Ohio, Mortgage Revenue, Single Family Housing Finance Agency, Prerefunded, Zero Coupon, 1/15/2015  (a) 

 

7,875,000 

 

5,302,235 

Ohio, School District General Obligation, 6.0%, 12/1/2019 (a) 

 

475,000

 

542,897

Ohio, State Agency Revenue Lease, Administrative Building Funds Project:

 
 

Series A, 5.5%, 10/1/2015 (a) 

 

4,370,000 

 

4,671,399 

 

Series A, 5.5%, 10/1/2016 (a) 

 

3,790,000 

 

4,051,396 

 

Series A, 5.5%, 10/1/2018 (a) 

 

3,695,000 

 

3,949,844 

Ohio, State Agency Revenue Lease, Building Authority, Juvenile Correctional Facility, Series A, 5.5%, 4/1/2016 

 

3,665,000

 

3,888,785

Ohio, State General Obligation, 6.0%, 8/1/2010 

 

1,000,000

 

1,064,000

Ohio, State General Obligation Lease, Higher Education Revenue, Series B, Prerefunded, 5.625%, 5/1/2015 

 

1,000,000

 

1,049,310

Ohio, Transportation/Tolls Revenue, Series A, 5.5%, 2/15/2017 (a) 

 

6,925,000

 

7,703,162

Ohio, Water & Sewer Revenue, Bay Shore Project, Series A, AMT, 5.875%, 9/1/2020 

 

3,650,000

 

3,675,878

Springboro, OH, School District General Obligation, Community City School District, 6.0%, 12/1/2011 (a) 

 

500,000

 

524,205

Toledo, OH, Other General Obligation, Macys Project, Series A, AMT, 6.35%, 12/1/2025 (a) 

 

1,000,000

 

1,025,330

Wayne, OH, School District General Obligation:

 
 

6.45%, 12/1/2011 (a) 

 

145,000 

 

154,487 

 

6.6%, 12/1/2016 (a) 

 

200,000 

 

232,792 

Wooster, OH, School District General Obligation, Zero Coupon, 12/1/2013 (a) 

 

930,000

 

726,070

 

**86,317,519**

**Oklahoma 0.8%**

 
Oklahoma, Hospital & Healthcare Revenue, Valley View Hospital Authority, 6.0%, 8/15/2014 

 

2,420,000

 

2,520,769

 

 

 

 

Oklahoma, Water & Sewer Revenue, McGee Creek Authority, 6.0%, 1/1/2023 (a) 

 

23,125,000

 

26,393,025

 

**28,913,794**

**Oregon 0.2%**

 
Chemeketa, OR, School District General Obligation, ETM, 5.5%, 6/1/2015 (a) 

 

2,600,000

 

2,871,180

Oregon, Transportation/Tolls Revenue:

 
 

5.75%, 11/15/2015  

 

1,435,000 

 

1,525,965 

 

5.75%, 11/15/2016  

 

3,140,000 

 

3,339,044 

 

**7,736,189**

**Pennsylvania 2.2%**

 
Allegheny County, PA, Airport Revenue, Pittsburgh International, Series A, AMT, 5.75%, 1/1/2013 (a) 

 

3,080,000

 

3,330,250

Allegheny County, PA, Port Authority Revenue:

 
 

5.5%, 3/1/2015 (a) 

 

2,000,000 

 

2,128,520 

 

5.5%, 3/1/2016 (a) 

 

1,000,000 

 

1,064,600 

 

5.5%, 3/1/2017 (a) 

 

1,000,000 

 

1,064,940 

Berks County, PA, Hospital & Healthcare Revenue, Municipal Authority, Reading Hospital & Medical Center Project, 5.7%, 10/1/2014 (a) 

 

1,000,000

 

1,077,020

Bucks County, PA, Water & Sewer Authority Revenue, ETM, 6.375%, 12/1/2008 

 

95,000

 

95,808

Erie County, PA, Industrial Development Revenue, Pollution Control, Series A, 5.3%, 4/1/2012 

 

1,000,000

 

1,024,650

Exter Township, PA, School District General Obligation, Zero Coupon, 5/15/2017 (a) 

 

3,700,000

 

2,431,196

Indiana County, PA, Pollution Control Revenue, Industrial Development Authority, 5.35%, 11/1/2010 (a) 

 

1,000,000

 

1,046,450

Latrobe, PA, Higher Education Revenue, Industrial Development Authority, 5.375%, 5/1/2013 

 

1,000,000

 

1,041,750

New Castle, PA, Hospital & Healthcare Revenue, Area Hospital Authority, Jameson Memorial Hospital, 6.0%, 7/1/2010 (a) 

 

845,000

 

895,252

Pennsylvania, Core City General Obligation, Regional Finance Authority Local Government, 5.75%, 7/1/2032 

 

28,000,000

 

31,944,080

Pennsylvania, Hospital & Healthcare Revenue, Economic Development Financing Authority, UPMC Health System, Series A, 6.0%, 1/15/2031 

 

7,340,000

 

7,802,860

Pennsylvania, Sales & Special Tax Revenue, Convention Center Authority, Series A, ETM, 6.0%, 9/1/2019 (a) 

 

2,200,000

 

2,539,922

Pennsylvania, State Agency Revenue Lease, Industrial Development Authority, Economic Development, 5.8%, 7/1/2008 (a) 

 

4,875,000

 

4,956,559

Pennsylvania, State General Obligation, 6.25%, 7/1/2010 

 

1,000,000

 

1,068,630

Pennsylvania, Transportation/Tolls Revenue, 5.25%, 7/1/2019 

 

2,000,000

 

2,151,980

Pennsylvania, Transportation/Tolls Revenue, Community Turnpike, Series S, 5.625%, 6/1/2014 

 

3,750,000

 

4,020,225

Pennsylvania, Water & Sewer Revenue, 5.25%, 11/1/2014 (a) 

 

1,750,000

 

1,900,710

Philadelphia, PA, Water & Sewer Revenue, 6.25%, 8/1/2010 (a) 

 

1,000,000

 

1,069,710

Pittsburgh, PA, Core City General Obligation, Series A, 5.5%, 9/1/2014 (a) 

 

1,500,000

 

1,584,525

Pittsburgh, PA, Water & Sewer System, ETM, 7.25%, 9/1/2014 (a) 

 

115,000

 

128,130

Westmoreland County, PA, Hospital & Healthcare Revenue, Industrial Development Authority, 5.375%, 7/1/2011 (a) 

 

5,120,000

 

5,298,022

Westmoreland County, PA, Project Revenue, Zero Coupon, 8/15/2017 (a) 

 

6,230,000

 

4,048,815

 

**83,714,604**

**Puerto Rico 0.3%**

 
Puerto Rico, Electric Revenue, 5.375%, 7/1/2018 (a) 

 

8,710,000

 

9,620,892

Puerto Rico, Public Buildings Authority Revenue, Government Facilities, Series A, ETM, 6.25%, 7/1/2013 (a) 

 

1,000,000

 

1,130,110

Puerto Rico Commonwealth, General Obligation, 6.25%, 7/1/2013 (a) 

 

1,850,000

 

2,091,739

 

**12,842,741**

**Rhode Island 1.0%**

 
Rhode Island, Economic Protection Corp., Special Obligation:

 
 

Series B, ETM, 5.8%, 8/1/2011 (a) 

 

1,025,000 

 

1,103,474 

 

Series B, ETM, 5.8%, 8/1/2012 (a) 

 

2,500,000 

 

2,736,900 

 

Series B, ETM, 5.8%, 8/1/2013 (a) 

 

7,340,000 

 

8,117,233 

Rhode Island, Project Revenue, Convention Center Authority, Series B, 5.25%, 5/15/2015 (a) 

 

22,000,000

 

23,377,860

 

 

 

 

Rhode Island, Water & Sewer Revenue, Clean Water Protection Agency, Revolving Fund, Series A, 5.4%, 10/1/2015 (a) 

 

2,000,000

 

2,146,960

 

**37,482,427**

**South Carolina 1.0%**

 
Lexington County, SC, Hospital & Healthcare Revenue, 5.5%, 11/1/2032 

 

4,515,000

 

4,921,530

Piedmont, SC, Electric Revenue, Municipal Power Agency:

 
 

ETM, 5.5%, 1/1/2012 (a) 

 

2,190,000 

 

2,348,644 

 

5.5%, 1/1/2012 (a) 

 

2,810,000 

 

2,998,467 

 

Series A, ETM, 6.5%, 1/1/2016 (a) 

 

430,000 

 

504,687 

South Carolina, Jobs Economic Development Authority, Hospital Facilities Revenue, Palmetto Health Alliance:

 
 

Series C, Prerefunded, 7.0%, 8/1/2030  

 

6,885,000 

 

8,008,632 

 

Series C, 7.0%, 8/1/2030  

 

855,000 

 

992,330 

 

Series A, Prerefunded, 7.375%, 12/15/2021  

 

4,500,000 

 

5,082,165 

South Carolina, Piedmont Municipal Power Agency, Electric Revenue:

 
 

Prerefunded, ETM, 6.75%, 1/1/2019 (a) 

 

1,460,000 

 

1,783,273 

 

6.75%, 1/1/2019 (a) 

 

2,065,000 

 

2,491,175 

South Carolina, Tobacco Settlement Revenue Management Authority, Series B, 6.0%, 5/15/2022 

 

7,550,000

 

7,740,033

 

**36,870,936**

**Tennessee 0.8%**

 
Knox County, TN, Hospital & Healthcare Revenue, Sanders Alliance:

 
 

5.75%, 1/1/2011 (a) 

 

15,405,000 

 

16,343,781 

 

5.75%, 1/1/2014 (a) 

 

2,000,000 

 

2,187,560 

 

6.25%, 1/1/2013 (a) 

 

4,000,000 

 

4,429,160 

 

7.25%, 1/1/2009 (a) 

 

3,750,000 

 

3,918,225 

Shelby County, TN, County General Obligation, Zero Coupon, 8/1/2014 

 

4,965,000

 

3,749,766

 

**30,628,492**

**Texas 6.3%**

 
Abilene, TX, Senior Care Revenue, Sears Methodist Retirement, Health Facilities Development, Series A, 5.875%, 11/15/2018 

 

3,250,000

 

3,285,523

Austin, TX, Project Revenue, Bergstrom Landhost Enterprises, Inc. Airport Hotel Project, Series A, 4.3875% **, 4/1/2027 

 

21,615,000

 

16,874,398

Austin, TX, School District General Obligation, Independent School District, 5.0%, 8/1/2015 

 

2,000,000

 

2,136,320

Austin, TX, Water & Sewer Revenue, Utility Systems, Zero Coupon, 11/15/2012 (a) 

 

13,520,000

 

11,040,567

Boerne, TX, School District General Obligation Lease, Independent School District:

 
 

Zero Coupon, 2/1/2014  

 

2,785,000 

 

2,144,450 

 

Zero Coupon, 2/1/2016  

 

3,285,000 

 

2,292,306 

Brownsville, TX, Electric Revenue, Utility Systems, 6.25%, 9/1/2010 (a) 

 

4,085,000

 

4,381,244

Cypress and Fairbanks, TX, School District General Obligation, Cypress-Fairbanks Texas Independent School District:

 
 

Series A, Zero Coupon, 2/15/2012  

 

5,750,000 

 

4,834,600 

 

Series A, Zero Coupon, 2/15/2013  

 

8,840,000 

 

7,113,813 

 

Series A, Zero Coupon, 2/15/2014  

 

6,000,000 

 

4,612,080 

Dallas, TX, Single Family Housing Revenue, Zero Coupon, 10/1/2016 (a) 

 

970,000

 

385,274

Grapevine-Colleyville, TX, School District General Obligation, Zero Coupon, 8/15/2010 

 

2,160,000

 

1,928,102

Harris County, TX, County General Obligation, Zero Coupon, 10/1/2017 (a) 

 

3,910,000

 

2,516,593

Harris County, TX, Hospital & Healthcare Revenue, Health Facilities Development Corp., Medical Center Project, 6.25%, 5/15/2010 (a) 

 

3,000,000

 

3,186,690

Hidalgo County, TX, Health Services, Mission Hospital:

 
 

Prerefunded, 6.875%, 8/15/2026  

 

1,320,000 

 

1,358,082 

 

6.875%, 8/15/2026  

 

1,560,000 

 

1,592,978 

Houston, TX, School District General Obligation, Series A, Zero Coupon, 2/15/2015 

 

26,000,000

 

18,025,540

Houston, TX, Utility Systems Revenue:

 
 

Series A, 5.25%, 5/15/2020 (a) 

 

8,000,000 

 

8,465,840 

 

Series A, 5.25%, 5/15/2021 (a) 

 

10,000,000 

 

10,523,900 

 

 

 

 

 

Series A, 5.25%, 5/15/2022 (a) 

 

30,000,000 

 

31,413,300 

Houston, TX, Water & Sewer Revenue:

 
 

Series C, Zero Coupon, 12/1/2009 (a) 

 

14,750,000 

 

13,525,308 

 

Series C, Zero Coupon, 12/1/2010 (a) 

 

5,000,000 

 

4,410,150 

 

Series C, Zero Coupon, 12/1/2012 (a) 

 

4,350,000 

 

3,544,641 

 

Series A, 5.5%, 12/1/2016 (a) 

 

10,000,000 

 

10,661,200 

 

Prerefunded, 5.75%, 12/1/2015 (a) 

 

5,000,000 

 

5,468,500 

Lubbock, TX, Health Facilities Development Corp., Methodist Hospital:

 
 

Series B, ETM, 5.6%, 12/1/2007 (a) 

 

2,415,000 

 

2,425,723 

 

Series B, ETM, 5.625%, 12/1/2008 (a) 

 

4,400,000 

 

4,503,048 

Northeast, TX, Hospital & Healthcare Revenue, Northeast Medical Center, 6.0%, 5/15/2010 (a) 

 

2,180,000

 

2,302,342

Northside, TX, General Obligation Independent School District:

 
 

Prerefunded, 5.5%, 2/15/2014  

 

1,420,000 

 

1,502,175 

 

5.5%, 2/15/2014  

 

1,265,000 

 

1,333,955 

Texas, Electric Revenue:

 
 

ETM, Zero Coupon, 9/1/2017 (a) 

 

120,000 

 

78,058 

 

Zero Coupon, 9/1/2017 (a) 

 

5,880,000 

 

3,798,715 

Texas, Electric Revenue, Municipal Power Agency, Zero Coupon, 9/1/2016 (a) 

 

18,300,000

 

12,448,758

Texas, Municipal Power Agency, ETM, Zero Coupon, 9/1/2016 (a) 

 

375,000

 

256,676

Texas, Other General Obligation, 7.0%, 9/15/2012 

 

5,605,587

 

5,655,140

Texas, SA Energy Acquisition Public Facility Corp., Gas Supply Revenue, 5.5%, 8/1/2025 

 

10,000,000

 

10,423,800

Texas, School District General Obligation, Community College District:

 
 

5.5%, 8/15/2014 (a) 

 

3,145,000 

 

3,379,082 

 

5.5%, 8/15/2015 (a) 

 

3,435,000 

 

3,713,373 

 

5.5%, 8/15/2017 (a) 

 

4,060,000 

 

4,389,023 

Texas, Water & Sewer Revenue, Water Development Board, Series A, 5.625%, 7/15/2015 

 

1,000,000

 

1,049,030

Waxahachie, TX, School District General Obligation, Independent School District:

 
 

Zero Coupon, 8/15/2012  

 

4,120,000 

 

3,397,311 

 

Zero Coupon, 8/15/2013  

 

2,060,000 

 

1,624,310 

 

**238,001,918**

**Utah 0.7%**

 
Murray City, UT, Hospital Revenue, IHC Health Services, Inc., Series D, 3.95% *, 5/15/2036 

 

2,450,000

 

2,450,000

Provo, UT, Electric Revenue, Series A, ETM, 10.375%, 9/15/2015 (a) 

 

1,230,000

 

1,544,622

Salt Lake City, UT, Core City General Obligation, 5.75%, 6/15/2014 

 

25,000

 

26,301

Salt Lake City, UT, Hospital & Healthcare Revenue, IHC Hospitals, Inc., 6.15%, 2/15/2012 

 

1,500,000

 

1,609,290

Utah, Electric Revenue, Intermountain Power Agency, Series A, ETM, 5.0%, 7/1/2012 (a) 

 

540,000

 

540,491

Utah, State General Obligation, Series A, 5.0%, 7/1/2016 

 

20,000,000

 

21,559,800

 

**27,730,504**

**Vermont 0.3%**

 
Burlington, VT, Electric Revenue:

 
 

5.375%, 7/1/2013 (a) 

 

4,800,000 

 

5,131,776 

 

5.375%, 7/1/2014 (a) 

 

5,055,000 

 

5,404,402 

 

**10,536,178**

**Virgin Islands 0.0%**

 
Virgin Islands, Sales & Special Tax Revenue, Public Finance Authority, Series A, 6.5%, 10/1/2024 

 

1,500,000

 

**1,637,190**

**Virginia 0.9%**

 
Fairfax County, VA, Hospital & Healthcare Revenue, Economic Development Authority, Greenspring Retirement Community, Series A, 7.25%, 10/1/2019 

 

2,000,000

 

2,169,000

Fairfax County, VA, Hospital & Healthcare Revenue, Economic Development Finance Authority, Series A, 7.5%, 10/1/2029 

 

7,100,000

 

7,735,095

Roanoke, VA, Hospital & Healthcare Revenue, Industrial Development Authority, Roanoke Memorial Hospital, Series B, 6.125%, 7/1/2017 (a) 

 

5,500,000

 

6,259,275

 

 

 

 

Virginia, State Public School Authority, School Financing 1997 Resolution, Series C, 5.0%, 8/1/2015 

 

5,335,000

 

5,732,351

Virginia, Tobacco Settlement Financing Corp., Series B-1, 5.0%, 6/1/2047 

 

4,800,000

 

4,156,224

Virginia Beach, VA, Hospital & Healthcare Revenue, Development Authority Hospital Facility First Mortgage, 5.125%, 2/15/2018 (a) 

 

3,000,000

 

3,194,880

Winchester, VA, Hospital & Healthcare Revenue, Industrial Development Authority, 5.5%, 1/1/2015 (a) 

 

5,700,000

 

6,191,283

 

**35,438,108**

**Washington 2.7%**

 
Chelan County, WA, Electric Revenue, Public Utilities, Columbia River Rock, Zero Coupon, 6/1/2014 (a) 

 

12,685,000

 

9,616,625

Clark County, WA, Electric Revenue, Public Utilities District No. 001 Generating Systems, ETM, 6.0%, 1/1/2008 (a) 

 

2,200,000

 

2,216,060

Clark County, WA, General Obligation Hockinson School District No. 98:

 
 

6.125%, 12/1/2011 (a) 

 

1,515,000 

 

1,625,701 

 

Prerefunded, 6.125%, 12/1/2011 (a) 

 

1,675,000 

 

1,799,520 

Clark County, WA, School District General Obligation, Zero Coupon, 12/1/2017 (a) 

 

6,725,000

 

4,313,819

King and Snohomish Counties, WA, School District General Obligation, No. 417 Northshore, 5.6%, 12/1/2010 (a) 

 

1,650,000

 

1,722,237

King County, WA, County General Obligation:

 
 

Prerefunded, 6.625%, 12/1/2015  

 

1,010,000 

 

1,037,038 

 

Series B, Prerefunded, 6.625%, 12/1/2015  

 

8,835,000 

 

9,071,513 

Port Seattle, WA, Airport Revenue, Series B, AMT, 6.0%, 2/1/2014 (a) 

 

4,000,000

 

4,410,120

Seattle, WA, Airport Revenue, Series B, AMT, 6.0%, 2/1/2012 (a) 

 

1,765,000

 

1,907,294

Skagit County, WA, School District General Obligation, District No. 100 Burlington Edison, 5.625%, 12/1/2015 (a) 

 

4,925,000

 

5,237,147

Snohomish County, WA, School District General Obligation, 5.75%, 12/1/2011 (a) 

 

3,485,000

 

3,762,650

Snohomish County, WA, School District General Obligation, School District No. 006 Mukilteo, 6.5%, 12/1/2007 (a) 

 

3,325,000

 

3,347,510

Spokane County, WA, School District General Obligation, Series B, Zero Coupon, 12/1/2014 (a) 

 

2,500,000

 

1,861,425

Washington, Electric Revenue, Series A, 5.5%, 7/1/2017 (a) 

 

11,200,000

 

11,930,352

Washington, Electric Revenue, Public Power Supply System Nuclear Project # 2, ETM, 5.7%, 7/1/2008 (a) 

 

1,270,000

 

1,290,777

Washington, Electric Revenue, Public Power Supply Systems:

 
 

Series A, Zero Coupon, 7/1/2010 (a) 

 

5,860,000 

 

5,255,482 

 

Series A, Zero Coupon, 7/1/2011 (a) 

 

4,200,000 

 

3,624,726 

 

Series B, 7.25%, 7/1/2009 (a) 

 

5,540,000 

 

5,770,132 

Washington, Hospital & Healthcare Revenue, HealthCare Facilities Authority:

 
 

5.75%, 11/1/2007 (a) 

 

7,350,000 

 

7,373,446 

 

5.8%, 11/1/2008 (a) 

 

4,865,000 

 

4,978,938 

 

5.8%, 11/1/2009 (a) 

 

4,595,000 

 

4,787,255 

 

5.8%, 11/1/2010 (a) 

 

2,100,000 

 

2,224,845 

Washington, State General Obligation, Series 5, Zero Coupon, 1/1/2017 (a) 

 

4,535,000

 

3,029,380

 

**102,193,992**

**West Virginia 0.1%**

 
West Virginia, Hospital & Healthcare Revenue, Hospital Finance Authority, Charleston Medical Center, 6.75%, 9/1/2030 

 

590,000

 

624,114

West Virginia, Hospital Finance Authority, Charleston Medical Center, Prerefunded, 6.75%, 9/1/2030 

 

2,410,000

 

2,638,155

 

**3,262,269**

**Wisconsin 2.0%**

 
Milwaukee County, WI, Series A, Prerefunded, ETM, Zero Coupon, 12/1/2011 (a) 

 

220,000

 

186,850

Wisconsin, Hospital & Healthcare Revenue, Health & Education Facilities Authority:

 
 

5.75%, 11/15/2007 (a) 

 

1,500,000 

 

1,505,940 

 

6.0%, 11/15/2008 (a) 

 

4,085,000 

 

4,193,293 

 

6.1%, 8/15/2008 (a) 

 

4,580,000 

 

4,680,760 

 

 

 

 

 

6.1%, 8/15/2009 (a) 

 

2,000,000 

 

2,087,100 

 

Series B, ETM, 6.25%, 1/1/2022 (a) 

 

4,615,000 

 

5,217,627 

 

Series C, 6.25%, 1/1/2022 (a) 

 

8,060,000 

 

9,241,435 

 

Series AA, 6.4%, 6/1/2008 (a) 

 

2,335,000 

 

2,380,252 

 

Series AA, 6.45%, 6/1/2009 (a) 

 

2,485,000 

 

2,596,676 

 

Series AA, 6.45%, 6/1/2010 (a) 

 

2,650,000 

 

2,832,188 

 

Series AA, 6.5%, 6/1/2011 (a) 

 

2,820,000 

 

3,079,976 

 

Series AA, 6.5%, 6/1/2012 (a) 

 

3,000,000 

 

3,330,480 

Wisconsin, Hospital & Healthcare Revenue, Health & Education Facilities Authority, Aurora Health Care, Inc.:

 
 

Series A, 5.6%, 2/15/2029  

 

17,800,000 

 

17,836,134 

 

6.875%, 4/15/2030  

 

14,000,000 

 

14,992,180 

 

**74,160,891**

**Total Municipal Bonds and Notes** (Cost $3,183,032,525)

 

**3,408,033,383**

 

**Municipal Inverse Floating Rate Notes 20.1%**

 
**California 2.6%**

 
California, San Francisco Bay Area Toll Authority, Toll Bridge Revenue, Series F, 5.0%, 4/1/2031 (d)

 

10,700,000

 

11,004,094

 

*Trust:**California, Bay Area Toll Authority, Toll Bridge Revenue, Series 1962-4, 144A,*

*7.49%, 4/1/2014, Leverage Factor at purchase date: 4 to 1***

 

 

 

 

California, State Economic Recovery, Series A, 5.0%, 7/1/2015 (a) (d)

 

17,000,000 

 

18,148,180 

 

*Trust:**California, General Obligation, Economic Recovery, Series R-278, 144A, 5.795%,*

*7/1/2015, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

California, State Economic Recovery, Series A, 5.25%, 7/1/2015 (a) (d)

 

11,955,000 

 

12,874,878 

 

*Trust:**California, General Obligation, Economic Recovery, Series 926, 144A, 6.092%,*

*7/1/2015, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

California, State Department Water Resource, Power Supply Revenue, Series A, 5.375%, 5/1/2018 (a) (d)

 

11,250,000

 

12,189,375

 

*Trust:**California, State Department Water Resource, Power Supply Revenue, Series 309,*

*144A, 6.515%, 5/1/2018, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

California, State General Obligation, 5.0%, 3/1/2027 (d)

 

10,000,000 

 

10,162,700 

 

*Trust:**California, UBS Municipal (CRVS), Various States, Series 07-1031A, 144A,*

*8.24%, 6/1/2014, Leverage Factor at purchase date: 5 to1***

 

 

 

 

California, State General Obligation, 5.0%, 3/1/2025 (d)

 

10,000,000 

 

10,211,760 

 

*Trust:**California, UBS Municipal (CRVS), Various States, Series 07-1031B, 144A,*

*8.24%, 6/1/2014, Leverage Factor at purchase date: 5 to1***

 

 

 

 

Los Angeles, CA, Unified School District, Series A, 5.25%, 7/1/2019 (a) (d)

 

10,000,000

 

10,803,350

 

*Trust:**Los Angeles, CA, Higher Education Revenue, Unified School District, RITES-PA*

*1117, 144A, 6.22%, 1/1/2011, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Los Angeles, CA, Unified School District, Series A, 5.25%, 7/1/2020 (a) (d)

 

2,750,000

 

2,970,921

 

*Trust:**Los Angeles, CA, Higher Education Revenue, Unified School District, RITES-PA*

*1117, 144A, 6.22%, 1/1/2011, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

San Francisco, CA, City & County Airports Commission, International Airport Revenue, Series 32G, 5.0%, 5/1/2026 (a) (d)

 

8,580,000

 

8,841,576

 

*Trust:**San Francisco, CA, City & County Airports Commission, International Airport,*

*Revenue, Series 2054,144A, 9.391%, 5/1/2026, Leverage Factor at purchase date: 6 to 1***

 

 

 

 

 

**97,206,834**

**Colorado 0.3%**

 
Denver, CO, City & County, Airport Revenue, Series A, 6.0%, 11/15/2013 (a) (d)

 

10,000,000

 

**10,580,300**

 

*Trust:**Denver, CO, Airport Revenue, RITES-PA 762, 144A, AMT, 7.665%, 11/15/2013,*

*Leverage Factor at purchase date: 2 to 1***

 

 

 

 

 

 

 

 

**Connecticut 0.7%**

 
Connecticut, State Special Tax Revenue, Transportation Infrastructure, Series B, 5.375%, 10/1/2014 (a) (d)

 

16,780,000 

 

17,778,829 

 

*Trust:**Connecticut, Sales & Special Tax Revenue, Series II-R-122, 144A, 6.51%,*

*10/1/2014, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Connecticut, State Special Tax Revenue, Transportation Infrastructure, Series B, 5.375%, 10/1/2015 (a) (d)

 

4,000,000 

 

4,238,100 

 

*Trust:**Connecticut, Sales & Special Tax Revenue, Series II-R-122, 144A, 6.51%,*

*10/1/2015, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Connecticut, State Special Tax Revenue, Transportation Infrastructure, Series A, 5.375%, 10/1/2016 (a) (d)

 

2,100,000 

 

2,235,797 

 

*Trust:**Connecticut, Sales & Special Tax Revenue, Series II-R-122, 144A, 6.51%,*

*10/1/2016, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Connecticut, State Special Tax Revenue, Transportation Infrastructure, Series A, 5.375%, 10/1/2017 (a) (d)

 

1,660,000 

 

1,767,344 

 

*Trust:**Connecticut, Sales & Special Tax Revenue, Series II-R-122, 144A, 6.51%,*

*10/1/2017, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

 

**26,020,070**

**District of Columbia 0.6%**

 
District of Columbia, Water & Sewer Authority, Public Utility Revenue, 6.0%, 10/1/2016 (a) (d)

 

5,500,000

 

6,299,122

 

*Trust:**District of Columbia, Water & Sewer Authority, Public Utility Revenue, Series 16,*

*144A, 7.735%, 10/1/2014, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

District of Columbia, Water & Sewer Authority, Public Utility Revenue, 6.0%, 10/1/2013 (a) (d)

 

2,420,000

 

2,699,982

 

*Trust:**District of Columbia, Water & Sewer Authority, Public Utility Revenue, Series 13,*

*144A, 7.735%, 10/1/2016, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

District of Columbia, Water & Sewer Authority, Public Utility Revenue, 6.0%, 10/1/2015 (a) (d)

 

7,135,000

 

8,111,658

 

*Trust:**District of Columbia, Water & Sewer Authority, Public Utility Revenue, Series 15,*

*144A, 7.743%, 10/1/2013, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

District of Columbia, Water & Sewer Authority, Public Utility Revenue, 6.0%, 10/1/2014 (a) (d)

 

3,945,000

 

4,442,449

 

*Trust:**District of Columbia, Water & Sewer Authority, Public Utility Revenue, Series 14,*

*144A, 7.75%, 10/1/2012, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

 

**21,553,211**

**Florida 0.4%**

 
Lee County, FL, Airport Revenue, AMT, Series A, 6.0%, 10/1/2013 (a) (d)

 

7,920,000 

 

8,407,516 

 

*Trust:**Lee County, FL, Airport Revenue, AMT, Series 14, 144A, 7.7%, 10/1/2013,*

*Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Lee County, FL, Airport Revenue, AMT, Series A, 6.0%, 10/1/2020 (a) (d)

 

2,820,000 

 

2,988,791 

 

*Trust:**Lee County, FL, Airport Revenue, AMT, Series 14, 144A, 7.7%, 10/1/2020,*

*Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Lee County, FL, Airport Revenue, AMT, Series A, 6.125%, 10/1/2015 (a) (d)

 

3,000,000 

 

3,194,790 

 

*Trust:**Lee County, FL, Airport Revenue, AMT, Series 14, 144A, 7.95%, 10/1/2015,*

*Leverage Factor at purchase date: 2 to 1***

 

 

 

 

 

**14,591,097**

**Georgia 0.3%**

 
Georgia, Municipal Electric Authority, Power Revenue, Series B, 6.375%, 1/1/2016 (a) (d)

 

9,200,000

 

**10,717,218**

 

*Trust: Georgia, Municipal Electric Authority, Power Revenue, RITES-PA 786, 144A,*

*8.445%, 1/1/2016, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

**Illinois 2.0%**

 
Chicago, IL, General Obligation, Series A, 5.0%, 1/1/2025 (a) (d)

 

13,985,000

 

14,433,583

 

*Trust:**Chicago, IL, UBS Municipal (CRVS), Various States, Series 07-1027B, 144A,*

*7.461%, 1/1/2025, Leverage Factor at purchase date: 4 to 1***

 

 

 

 

Cook County, IL, Capital Improvement, 6.5%, 11/15/2013 (a) (d)

 

21,220,000

 

24,268,678

 

 

 

 

 

*Trust:**Cook County, IL, County General Obligation, RITES-PA 591, 144A, 8.705%,*

*11/15/2013, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Illinois, Municipal Electric Agency Power Supply, Series A, 5.25%, 2/1/2023 (a) (d)

 

3,500,000

 

3,688,108

Illinois, Municipal Electric Agency Power Supply, Series A, 5.25%, 2/1/2024 (a) (d)

 

2,500,000

 

2,634,363

 

*Trust:**Illinois, Municipal Electric Agency Power Supply, Series 2094, 144A, 8.67%,*

*2/1/2015, Leverage Factor at purchase date: 4 to 1***

 

 

 

 

Illinois, Regional Transportation Authority, Series A, 6.7%, 11/1/2021 (a) (d)

 

25,800,000

 

31,154,403

 

*Trust:**Illinois, Transportation/Tolls Revenue, Regional Transportation Authority,*

*RITES-PA 584, 144A, 9.105%, 11/1/2021, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

 

**76,179,135**

**Massachusetts 1.6%**

 
Massachusetts, State Development Finance Agency, Resource Recovery Revenue, Series A, 5.625%, 1/1/2015 (a) (d)

 

4,000,000

 

4,291,740

Massachusetts, State Development Finance Agency, Resource Recovery Revenue, Series A, 5.625%, 1/1/2016 (a) (d)

 

2,750,000

 

2,950,571

 

*Trust:**Massachusetts, State Development Finance Agency, Resource Recovery Revenue,*

*Series 563, 144A, 6.995%, 1/1/2016, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Massachusetts, State General Obligation, Series C, Prerefunded, 5.75%, 10/1/2015 (d)

 

12,190,000 

 

12,905,980 

 

*Trust:**Massachusetts, State General Obligation, RITES-PA 793, 144A, 7.285%,*

*10/1/2008, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Massachusetts, State General Obligation, Series C, 5.0%, 8/1/2026 (a) (d)

 

20,000,000 

 

20,695,000 

 

*Trust:**Massachusetts, State General Obligation, Series 2022-1, 144A, 12.2%, 8/1/2015,*

*Leverage Factor at purchase date: 10 to 1***

 

 

 

 

Massachusetts, State General Obligation, Series C, 5.0%, 8/1/2027 (a) (d)

 

20,000,000 

 

20,695,000 

 

*Trust:**Massachusetts, State General Obligation, Series 2022-2, 144A, 12.2%, 8/1/2015,*

*Leverage Factor at purchase date: 10 to 1***

 

 

 

 

 

**61,538,291**

**Michigan 0.2%**

 
Michigan, State Grant Anticipation Bonds, 5.25%, 9/15/2023 (a) (d)

 

7,500,000

 

**8,015,850**

 

*Trust:**Michigan, Series 2081, 144A, 8.37%, 3/15/2015, Leverage Factor at purchase*

*date: 4 to 1***

 

 

 

 

**New Jersey 3.3%**

 
New Jersey, Highway Authority Revenue, Garden State Parkway, 5.5%, 1/1/2013 (a) (d)

 

9,000,000

 

9,838,350

New Jersey, Highway Authority Revenue, Garden State Parkway, 5.5%, 1/1/2014 (a) (d)

 

8,000,000

 

8,745,200

New Jersey, Highway Authority Revenue, Garden State Parkway, 5.5%, 1/1/2015 (a) (d)

 

5,500,000

 

6,012,325

New Jersey, Highway Authority Revenue, Garden State Parkway, 5.5%, 1/1/2016 (a) (d)

 

7,370,000

 

8,056,516

 

*Trust:**New Jersey, Highway Authority Revenue, Garden State Parkway, Series 247,*

*ETM, 144A, 6.773%, 1/1/2013, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

New Jersey, State Transportation Trust Fund Authority, Series A, 5.75%, 6/15/2016 (d)

 

4,000,000

 

4,534,580

New Jersey, State Transportation Trust Fund Authority, Series A, 5.75%, 6/15/2017 (d)

 

4,000,000

 

4,534,580

New Jersey, State Transportation Trust Fund Authority, Series A, 5.75%, 6/15/2018 (d)

 

3,000,000

 

3,400,935

New Jersey, State Transportation Trust Fund Authority, Series A, 5.75%, 6/15/2020 (d)

 

11,000,000

 

12,470,095

 

*Trust:**New Jersey, State Agency Revenue, Transportation Trust Fund Authority, Residual*

*Certificates, Series 224, 144A, 7.235%, 6/15/2016, Leverage Factor at purchase date:*

*2 to 1***

 

 

 

 

New Jersey, State Transportation Corporate Certificates, Series B, 6.0%, 9/15/2015 (a) (d)

 

10,380,000

 

11,070,841

 

*Trust:**New Jersey, State Revenue Lease, Transportation Trust Fund Authority, RITES-PA*

*785, 144A, 7.735%, 9/15/2015, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

New Jersey, State Turnpike Authority Revenue, Series C, 6.5%, 1/1/2016 (a) (d)

 

7,660,000 

 

8,723,285 

 

*Trust:**New Jersey, Transportation/Tolls Revenue, Turnpike Authority, RITES-PA 614,*

*144A, 8.715%, 1/1/2016, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

New Jersey, State Turnpike Authority Revenue, Prerefunded, Series C, 6.5%, 1/1/2016 (a) (d)

 

42,340,000 

 

48,217,215 

 

*Trust:**New Jersey, Transportation/Tolls Revenue, Turnpike Authority, RITES-PA 613,*

*144A, 8.765%, 1/1/2011, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

 

**125,603,922**

 

 

 

 

**New York 1.1%**

 
Monroe County, NY, Airport Authority Revenue, Greater Rochester International Airport, AMT, 5.75%, 1/1/2014 (a) (d)

 

4,010,000 

 

4,368,534 

 

*Trust:**Monroe County, NY, Airport Revenue, RITES-PA 585A, AMT, 144A, 7.205%,*

*1/1/2011, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Monroe County, NY, Airport Authority Revenue, Greater Rochester International Airport, AMT, 5.75%, 1/1/2015 (a) (d)

 

5,030,000 

 

5,517,382 

 

*Trust:**Monroe County, NY, Airport Revenue, RITES-PA 585B, AMT, 144A, 7.205%,*

*7/1/2011, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Monroe County, NY, Airport Authority Revenue, Greater Rochester International Airport, AMT, 5.875%, 1/1/2016 (a) (d)

 

3,830,000 

 

4,254,173 

 

*Trust:**Monroe County, NY, Airport Revenue, RITES-PA 585C, AMT, 144A, 7.455%,*

*7/1/2012, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

New York, Metropolitan Transportation Authority Revenue, Series A, 5.5%, 11/15/2017 (a) (d)

 

15,000,000

 

16,142,625

 

*Trust:**New York, Municipal Securities Trust Certificates, 144A,*

*6.8%, 11/15/2017, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

New York & New Jersey, Port Authority, Series 120, 5.75%, 10/15/2014 (a) (d)

 

12,320,000

 

12,469,072

 

*Trust: New York & New Jersey, Port Authority Revenue, Series II R-42, AMT, 144A,*

*7.22%, 10/15/2007, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

 

**42,751,786**

**Pennsylvania 1.9%**

 
Allegheny County, PA, Airport Revenue, Pittsburgh International Airport, Series A-1, AMT, 5.75%, 1/1/2011 (a) (d)

 

3,000,000 

 

3,175,575 

 

*Trust:**Allegheny County, PA, Airport Revenue, AMT, RITES-PA 567B, 144A, 7.175%,*

*7/1/2008, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Allegheny County, PA, Airport Revenue, Pittsburgh International Airport, Series A-1, AMT, 5.75%, 1/1/2013 (a) (d)

 

6,320,000 

 

6,833,468 

 

*Trust:**Allegheny County, PA, Airport Revenue, AMT, RITES-PA 567C, 144A, 7.175%,*

*1/1/2010, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Allegheny County, PA, Airport Revenue, Pittsburg International Airport, Series A-1, AMT, 5.75%, 1/1/2014 (a) (d)

 

10,500,000 

 

11,438,805 

 

*Trust:**Allegheny County, PA, Airport Revenue, AMT, RITES-PA 567D, 144A, 7.175%,*

*1/1/2011, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Delaware Valley, PA, Regional Financial Authority, Local Government Revenue, 5.75%, 7/1/2017 (d)

 

25,000,000

 

27,880,375

 

*Trust:**Delaware Valley, PA, Core City General Obligation, Regional Financial*

*Authority, RITES-PA 1028, 144A, 7.26%, 1/1/2014, Leverage Factor at purchase date:*

*2 to 1***

 

 

 

 

Pennsylvania, State General Obligation, Series 2, 5.5%, 5/1/2019 (a) (d)

 

20,000,000

 

21,551,100

 

*Trust:**Pennsylvania, State General Obligation, RITES-PA 1035R, 144A, 9.259%,*

*5/1/2019, Leverage Factor at purchase date: 4 to 1***

 

 

 

 

 

**70,879,323**

**Puerto Rico 1.8%**

 
Puerto Rico Commonwealth, Public Improvements, Series A, 5.5%, 7/1/2019 (a) (d)

 

7,440,000 

 

8,304,751 

 

*Trust:**Puerto Rico, Sales & Special Tax Revenue, RITES-PA 944RA, 144A, 6.8%,*

*7/1/2015, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Puerto Rico Commonwealth, Public Improvements, Series A, 5.5%, 7/1/2019 (a) (d)

 

22,650,000 

 

25,282,609 

 

*Trust:**Puerto Rico, Sales & Special Tax Revenue, RITES-PA 943R, 144A, 6.8%,*

*7/1/2019, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Puerto Rico Commonwealth, Public Improvements, Series A, 5.5%, 7/1/2021 (a) (d)

 

6,000,000 

 

6,734,490 

 

*Trust:**Puerto Rico, Sales & Special Tax Revenue, RITES-PA 994RC, 144A, 6.8%,*

*7/1/2021, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Puerto Rico Commonwealth, General Obligation, 6.0%, 7/1/2013 (a) (d)

 

5,000,000 

 

5,588,400 

 

*Trust:**Puerto Rico, Sales & Special Tax Revenue, RITES-PA 620A, 144A, 7.785%,*

*7/1/2010, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Puerto Rico Commonwealth, Highway & Transportation Authority Revenue, 5.5%, 7/1/2028 (a) (d)

 

19,500,000

 

21,550,513

 

 

 

 

 

*Trust: Puerto Rico, UBS Municipal (CRVS), Various States, Series 07-1036, 144A,*

*12.67%, 5/1/2024, Leverage Factor at purchase date: 6 to 1***

 

 

 

 

Puerto Rico Commonwealth, General Obligation, 6.0%, 7/1/2016 (a) (d)

 

2,000,000

 

2,303,920

 

*Trust:**Puerto Rico Commonwealth, General Obligation, RITES-PA 620C, 144A, 7.785%,*

*1/1/2013, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

 

**69,764,683**

**Tennessee 0.5%**

 
Knox County, TN, Health, Educational, & Housing Facilities, Hospital Revenue, Fort Sanders Alliance, 5.75%, 1/1/2012 (a) (d)

 

17,880,000

 

**19,204,550**

 

*Trust:**Knox County, TN, Hospital & Healthcare Revenue, RITES-PA 750, 144A, 7.225%,*

*1/1/2012, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

**Texas 2.8%**

 
Dallas County, TX, Utility & Reclamation District, 5.25%, 2/15/2018 (a) (d)

 

7,830,000 

 

8,256,265 

 

*Trust:**Dallas County, TX, Utility & Reclamation District, RITES-A-PA 1136, 144A,*

*6.19%, 2/15/2011, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Dallas County, TX, Utility & Reclamation District, 5.25%, 2/15/2019 (a) (d)

 

8,220,000 

 

8,667,496 

 

*Trust:**Dallas County, TX, Utility & Reclamation District, RITES-B-PA 1136, 144A,*

*6.19%, 2/15/2011, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Dallas, County TX, Utility & Reclamation District, 5.25%, 2/15/2020 (a) (d)

 

10,250,000 

 

10,808,010 

 

*Trust:**Dallas County, TX, Utility & Reclamation District, RITES-C-PA 1136, 144A,*

*6.19%, 2/15/2011, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Texas, Dallas-Fort Worth International Airport Revenue, Series A, 5.5%, 11/1/2019 (a) (d)

 

15,750,000

 

16,561,912

Texas, Dallas-Fort Worth International Airport Revenue, Series A, 5.5%, 11/1/2020 (a) (d)

 

20,000,000

 

21,031,000

 

*Trust:**Dallas, TX, Airport Revenue, International Airport, Series 350, AMT, 144A,*

*6.712%, 5/1/2011, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

Houston, TX, Airport Systems Revenue, Series B, 5.0%, 7/1/2027 (a) (d)

 

21,025,000

 

21,529,134

 

*Trust:**Houston, TX, UBS Municipal (CRVS), Various States, Series 07-1030, 144A,*

*9.041%, 7/1/2015, Leverage Factor at purchase date: 5 to 1***

 

 

 

 

Texas, Municipal Gas Acquisition & Supply Corp. I, Gas Supply Revenue, Series B, 4.148%***, 12/15/2026 (d)

 

21,300,000

 

20,046,069

 

*Trust:**Texas, Municipal Gas Acquisition & Supply Corp. I, Gas Supply Revenue,*

*RITES-PA 1439, 144A, 4.252%, 12/15/2026, Leverage Factor at purchase date: 2 to 1***

 

 

 

 

 

**106,899,886**

**Total Municipal Inverse Floating Rate Notes** (Cost $731,255,334)

 

**761,506,156**

 

**Government & Agency Obligations 0.0%**

 
US Treasury Bill, 4.7% ****, 10/18/2007 (c) (Cost $1,276,358)

 

1,284,000

 

**1,277,871**

 

**% of****Net Assets**

 

**Value ($)**

**Total Investment Portfolio** (Cost $3,915,564,217)

109.9

 

**4,170,817,410**

**Other Assets and Liabilities, Net**

(9.9)

 

**(375,674,016)**

**Net Assets**

100.0

 

**3,795,143,394**

 

*For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.*

***

*Variable rate demand notes are securities whose interest rates are reset periodically at market levels. These securities are often payable on demand and are shown at their current rates as of August 31, 2007.*

****

*Partial paying interest security. The rate shown represents 65% of the original coupon rate.*

*****

*Floating rate notes are securities whose yields vary with a designated market index or market rate, such as the coupon-equivalent of the US Treasury Bill rate. These securities are shown at their current rate as of August 31, 2007.*

******

*Annualized yield at time of purchase; not a coupon rate.*

*(a)*

*Bond is insured by one of these companies:*

 

 

 

 

 

***Insurance Coverage*****

***As a % of Total Investment Portfolio*****

*Ambac Financial Group, Inc.***

*12.0***

*Financial Guaranty Insurance Company***

*11.2***

*Financial Security Assurance Inc.***

*11.2***

*MBIA Corp.***

*30.1***

*XL Capital Assurance***

*0.2***

*(b)*

*Security incorporates a letter of credit from a major bank.*

*(c)*

*All or a portion of this security is held as collateral for open futures contracts.*

*(d)*

*Security forms part of the below tender option bond trust. The principal amount and value shown take into account the leverage factor.*

*144A: Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.*

*AMT: Subject to alternative minimum tax.*

*CRVS: Custodial Residual and Variable Securities*

*ETM: Bonds bearing the description ETM (escrow to maturity) are collateralized usually by US Treasury securities which are held in escrow and used to pay principal and interest on bonds so designated.*

*Prerefunded: Bonds which are prerefunded are collateralized usually by US Treasury securities which are held in escrow and are used to pay principal and interest on tax-exempt issues and to retire the bonds in full at the earliest refunding date.*

*RITES: Residual Interest Tax Exempt Security*

*At August 31, 2007, open futures contracts sold were as follows:*

**Futures**

 

**Expiration****Date**

 

**Contracts**

 

**Aggregated****Face****Value ($)**

 

**Value ($)**

 

**Unrealized****Depreciation ($)**

 

10 Year US Treasury Note 

 

9/19/2007 

 

1,406 

 

151,215,507 

 

153,935,031 

 

**(2,719,524)**

 
 

 

 

**ITEM 2.**

**CONTROLS AND PROCEDURES**

 

 

 

(a)          The Chief Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.

 

 

 

(b)         There have been no changes in the registrant’s internal control over financial reporting that occurred during the registrant’s last half-year (the registrant’s second fiscal half-year in the case of the annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal controls over financial reporting.

 

 

**ITEM 3.**

**EXHIBITS**

 

 

 

Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

 

**SIGNATURES**

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Registrant: 

DWS Managed Municipal Bond Fund, a series of DWS Municipal Trust

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

October 17, 2007

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

Registrant: 

DWS Managed Municipal Bond Fund, a series of DWS Municipal Trust

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

October 17, 2007

 

 

By:

/s/Paul Schubert

 

Paul Schubert

Chief Financial Officer and Treasurer

 

Date:                                        October 17, 2007

 

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