|
Portfolio of Investments
|
|
|
|
|
|
|||||
|
Nuveen New York Quality Municipal Income Fund (NAN)
|
|
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|
|
|
(formerly known as Nuveen New York Dividend Advantage Municipal Fund)
|
|
|
|
|
|
November 30, 2016 (Unaudited)
|
|
|
|
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|||||
|
|||||
Principal
|
|
Optional Call
|
|
|
|
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|
|
LONG-TERM INVESTMENTS – 157.1% (100.0% of Total Investments)
|
|
|
|
|
|
|||||
|
MUNICIPAL BONDS – 156.3% (99.5% of Total Investments)
|
|
|
|
|
|
|||||
|
Consumer Discretionary – 1.2% (0.7% of Total Investments)
|
|
|
|
|
$ 5,300
|
Seneca Nation of Indians Capital Improvements Authority, New York, Special Obligation Bonds,
|
6/17 at 100.00
|
N/R
|
$ 5,328,620
|
|
|
Series 2007A, 5.000%, 12/01/23
|
|
|
|
|
|
Consumer Staples – 6.3% (4.0% of Total Investments)
|
|
|
|
|
|
Erie County Tobacco Asset Securitization Corporation, New York, Tobacco Settlement
|
|
|
|
|
|
Asset-Backed Bonds, Series 2005A:
|
|
|
|
|
12,500
|
5.000%, 6/01/38
|
2/17 at 100.00
|
BB
|
12,606,750
|
|
3,210
|
5.000%, 6/01/45
|
2/17 at 100.00
|
BB–
|
3,008,797
|
|
1,350
|
Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds,
|
2/17 at 100.00
|
B–
|
1,321,083
|
|
|
Refunding Series 2006A-2, 5.250%, 6/01/26
|
|
|
|
|
12,415
|
Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds,
|
2/17 at 100.00
|
B–
|
11,484,123
|
|
|
Series 2006A-3, 5.000%, 6/01/35
|
|
|
|
|
29,475
|
Total Consumer Staples
|
|
|
28,420,753
|
|
|
Education and Civic Organizations – 27.8% (17.7% of Total Investments)
|
|
|
|
|
1,295
|
Albany Industrial Development Agency, New York, Revenue Bonds, Albany Law School, Series
|
7/17 at 100.00
|
BBB
|
1,314,270
|
|
|
2007A, 5.000%, 7/01/31
|
|
|
|
|
1,855
|
Albany Industrial Development Agency, New York, Revenue Bonds, Brighter Choice Charter
|
4/17 at 100.00
|
B
|
1,523,419
|
|
|
Schools, Series 2007A, 5.000%, 4/01/37
|
|
|
|
|
3,265
|
Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue Bonds,
|
12/20 at 100.00
|
B
|
3,254,193
|
|
|
Enterprise Charter School Project, Series 2011A, 7.500%, 12/01/40
|
|
|
|
|
|
Build New York City Resource Corporation, New York, Revenue Bonds, City University of New
|
|
|
|
|
|
York – Queens College, Q Student Residences, LLC Project, Refunding Series 2014A:
|
|
|
|
|
1,025
|
5.000%, 6/01/32
|
6/24 at 100.00
|
Aa2
|
1,157,410
|
|
2,070
|
5.000%, 6/01/43
|
6/24 at 100.00
|
Aa2
|
2,292,049
|
|
|
Build New York City Resource Corporation, New York, Revenue Bonds, Metropolitan College of
|
|
|
|
|
|
New York, Series 2014:
|
|
|
|
|
1,405
|
5.250%, 11/01/34
|
11/24 at 100.00
|
BB
|
1,404,930
|
|
1,300
|
5.000%, 11/01/39
|
11/24 at 100.00
|
BB
|
1,236,963
|
|
|
Build New York City Resource Corporation, New York, Revenue Bonds, South Bronx Charter School
|
|
|
|
|
|
for International Cultures and the Arts Project, Series 2013A:
|
|
|
|
|
950
|
5.000%, 4/15/33
|
4/23 at 100.00
|
BB+
|
923,049
|
|
1,380
|
5.000%, 4/15/43
|
4/23 at 100.00
|
BB+
|
1,286,270
|
|
5,575
|
Dormitory Authority of the State of New York, General Revenue Bonds, Manhattan College, Series
|
7/17 at 100.00
|
AA
|
5,684,437
|
|
|
2007A, 5.000%, 7/01/41 – RAAI Insured
|
|
|
|
|
1,760
|
Dormitory Authority of the State of New York, General Revenue Bonds, Saint Johns University,
|
7/23 at 100.00
|
A–
|
1,895,802
|
|
|
Series 2013A, 5.000%, 7/01/44
|
|
|
|
|
2,000
|
Dormitory Authority of the State of New York, Housing Revenue Bonds, Fashion Institute of
|
No Opt. Call
|
AA–
|
2,250,580
|
|
|
Technology, Series 2007, 5.250%, 7/01/29 – FGIC Insured
|
|
|
|
|
3,915
|
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory
|
7/23 at 100.00
|
Aa3
|
4,428,452
|
|
|
Facilities, Refunding Series 2013A, 5.000%, 7/01/27
|
|
|
|
|
3,500
|
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory
|
7/22 at 100.00
|
Aa2
|
3,878,350
|
|
|
Facilities, Series 2012A, 5.000%, 7/01/37
|
|
|
|
|
|
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory
|
|
|
|
|
|
Facilities, Series 2015A:
|
|
|
|
|
1,120
|
5.000%, 7/01/31
|
No Opt. Call
|
Aa3
|
1,282,949
|
|
1,245
|
5.000%, 7/01/33
|
No Opt. Call
|
Aa3
|
1,412,054
|
|
2,000
|
5.000%, 7/01/34
|
7/25 at 100.00
|
Aa3
|
2,258,740
|
|
5,090
|
Dormitory Authority of the State of New York, Revenue Bonds, Icahn School of Medicine at Mount
|
7/25 at 100.00
|
A–
|
5,514,353
|
|
|
Sinai, Refunding Series 2015A, 5.000%, 7/01/40
|
|
|
|
|
2,100
|
Dormitory Authority of the State of New York, Revenue Bonds, Marymount Manhattan College,
|
7/19 at 100.00
|
Baa2
|
2,243,430
|
|
|
Series 2009, 5.250%, 7/01/29
|
|
|
|
|
1,955
|
Dormitory Authority of the State of New York, Revenue Bonds, New School University, Series
|
7/25 at 100.00
|
A–
|
2,134,430
|
|
|
2015A, 5.000%, 7/01/45
|
|
|
|
|
2,120
|
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series
|
No Opt. Call
|
AA–
|
2,399,882
|
|
|
2001-1, 5.500%, 7/01/20 – AMBAC Insured
|
|
|
|
|
290
|
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series
|
7/19 at 100.00
|
AA–
|
311,135
|
|
|
2009A, 5.000%, 7/01/39
|
|
|
|
|
|
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2015A:
|
|
|
|
|
1,000
|
5.000%, 7/01/34
|
No Opt. Call
|
AA–
|
1,124,590
|
|
2,300
|
5.000%, 7/01/35
|
No Opt. Call
|
AA–
|
2,582,900
|
|
|
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2016A:
|
|
|
|
|
8,925
|
5.000%, 7/01/35
|
7/26 at 100.00
|
AA–
|
10,045,712
|
|
610
|
5.000%, 7/01/36
|
7/26 at 100.00
|
AA–
|
682,370
|
|
8,000
|
Dormitory Authority of the State of New York, Revenue Bonds, Non State Supported Debt, Cornell
|
7/20 at 100.00
|
Aa1
|
8,769,680
|
|
|
University, Series 2010A, 5.000%, 7/01/40
|
|
|
|
|
1,600
|
Dormitory Authority of the State of New York, Revenue Bonds, Saint Joseph’s College, Series
|
7/20 at 100.00
|
Ba1
|
1,680,320
|
|
|
2010, 5.250%, 7/01/35
|
|
|
|
|
3,140
|
Dormitory Authority of the Sate of New York, Revenue Bonds, Non State Supported Debt, Vaughn
|
12/26 at 100.00
|
BB–
|
3,102,477
|
|
|
College of Aeronautics Technology, Refunding Series 2016A, 5.500%, 12/01/36 (WI/DD,
|
|
|
|
|
|
Settling 12/15/16)
|
|
|
|
|
250
|
Hempstead Town Local Development Corporation, New York, Revenue Bonds, Adelphi University
|
2/19 at 100.00
|
A–
|
265,303
|
|
|
Project, Series 2009B, 5.250%, 2/01/39
|
|
|
|
|
|
Hempstead Town Local Development Corporation, New York, Revenue Bonds, Adelphi University
|
|
|
|
|
|
Project, Series 2013:
|
|
|
|
|
1,005
|
5.000%, 9/01/38
|
9/23 at 100.00
|
A–
|
1,080,516
|
|
265
|
5.000%, 9/01/43
|
9/23 at 100.00
|
A–
|
283,932
|
|
4,445
|
Hempstead Town Local Development Corporation, New York, Revenue Bonds, Molloy College Project,
|
7/19 at 100.00
|
BBB
|
4,752,594
|
|
|
Series 2009, 5.750%, 7/01/39
|
|
|
|
|
5,000
|
Madison County Capital Resource Corporation, New York, Revenue Bonds, Colgate University
|
7/25 at 100.00
|
AA
|
5,607,050
|
|
|
Project, Refunding Series 2015A, 5.000%, 7/01/40
|
|
|
|
|
1,260
|
Madison County Capital Resource Corporation, New York, Revenue Bonds, Colgate University
|
7/20 at 100.00
|
AA
|
1,370,779
|
|
|
Project, Series 2010A, 5.000%, 7/01/40
|
|
|
|
|
890
|
Monroe County Industrial Development Corporation, New York, Revenue Bonds, St. John Fisher
|
6/21 at 100.00
|
A–
|
996,506
|
|
|
College, Series 2011, 6.000%, 6/01/30
|
|
|
|
|
|
New Rochelle Corporation, New York, Local Development Revenue Bonds, Iona College Project,
|
|
|
|
|
|
Series 2015A:
|
|
|
|
|
2,945
|
5.000%, 7/01/40
|
7/25 at 100.00
|
BBB
|
3,080,823
|
|
85
|
5.000%, 7/01/45
|
7/25 at 100.00
|
BBB
|
87,690
|
|
|
New York City Industrial Development Agency, New York, PILOT Revenue Bonds, Queens Baseball
|
|
|
|
|
|
Stadium Project, Series 2006:
|
|
|
|
|
1,000
|
5.000%, 1/01/31 – AMBAC Insured
|
1/17 at 100.00
|
BBB
|
1,002,180
|
|
235
|
5.000%, 1/01/36 – AMBAC Insured
|
1/17 at 100.00
|
BBB
|
235,054
|
|
3,515
|
5.000%, 1/01/39 – AMBAC Insured
|
1/17 at 100.00
|
BBB
|
3,515,808
|
|
5,050
|
4.750%, 1/01/42 – AMBAC Insured
|
1/17 at 100.00
|
BBB
|
5,051,162
|
|
400
|
5.000%, 1/01/46 – AMBAC Insured
|
1/17 at 100.00
|
BBB
|
400,092
|
|
|
New York City Industrial Development Authority, New York, PILOT Revenue Bonds, Yankee Stadium
|
|
|
|
|
|
Project, Series 2006:
|
|
|
|
|
7,555
|
4.500%, 3/01/39 – FGIC Insured
|
2/17 at 100.00
|
Baa1
|
7,571,092
|
|
2,750
|
4.750%, 3/01/46 – NPFG Insured
|
2/17 at 100.00
|
AA–
|
2,757,343
|
|
1,000
|
New York City Trust for Cultural Resources, New York, Revenue Bonds, Whitney Museum of
|
1/21 at 100.00
|
A
|
1,094,880
|
|
|
American Art, Series 2011, 5.000%, 7/01/31
|
|
|
|
|
1,500
|
New York City Trust for Cultural Resources, New York, Revenue Bonds, Wildlife Conservation
|
8/23 at 100.00
|
AA–
|
1,700,415
|
|
|
Society, Series 2013A, 5.000%, 8/01/33
|
|
|
|
|
1,515
|
Onondaga Civic Development Corporation, New York, Revenue Bonds, Le Moyne College Project,
|
7/25 at 100.00
|
Baa2
|
1,574,964
|
|
|
Series 2015, 5.000%, 7/01/40
|
|
|
|
|
|
St. Lawrence County Industrial Development Agency Civic Development Corporation, New York,
|
|
|
|
|
|
Revenue Bonds, Clarkson University Project, Series 2012A:
|
|
|
|
|
1,050
|
5.250%, 9/01/33
|
3/22 at 100.00
|
A3
|
1,156,460
|
|
1,750
|
5.000%, 9/01/41
|
3/22 at 100.00
|
A3
|
1,884,435
|
|
2,260
|
Troy Capital Resource Corporation, New York, Revenue Bonds, Rensselaer Polytechnic Institute,
|
9/20 at 100.00
|
A3
|
2,470,022
|
|
|
Series 2010A, 5.125%, 9/01/40
|
|
|
|
|
118,515
|
Total Education and Civic Organizations
|
|
|
126,014,296
|
|
|
Financials – 3.1% (2.0% of Total Investments)
|
|
|
|
|
485
|
Glen Cove Local Economic Economic Assistance Corporation, New York, Revenue Bonds, Series
|
1/34 at 100.00
|
N/R
|
332,996
|
|
|
2016C, 0.000%, 1/01/55
|
|
|
|
|
4,725
|
New York Liberty Development Corporation, Revenue Bonds, Goldman Sachs Headquarters Issue,
|
No Opt. Call
|
A
|
5,535,479
|
|
|
Series 2005, 5.250%, 10/01/35
|
|
|
|
|
6,885
|
New York Liberty Development Corporation, Revenue Bonds, Goldman Sachs Headquarters Issue,
|
No Opt. Call
|
A
|
8,313,293
|
|
|
Series 2007, 5.500%, 10/01/37
|
|
|
|
|
12,095
|
Total Financials
|
|
|
14,181,768
|
|
|
Health Care – 7.2% (4.6% of Total Investments)
|
|
|
|
|
|
Dormitory Authority of the State of New York, Highland Hospital of Rochester Revenue Bonds,
|
|
|
|
|
|
Series 2010:
|
|
|
|
|
350
|
5.000%, 7/01/26
|
7/20 at 100.00
|
A
|
378,704
|
|
350
|
5.200%, 7/01/32
|
7/20 at 100.00
|
A
|
376,355
|
|
|
Dormitory Authority of the State of New York, Orange Regional Medical Center Obligated Group
|
|
|
|
|
|
Revenue Bonds, Series 2008:
|
|
|
|
|
4,665
|
6.500%, 12/01/21
|
12/18 at 100.00
|
Baa3
|
4,970,604
|
|
2,420
|
6.125%, 12/01/29
|
12/18 at 100.00
|
Baa3
|
2,545,332
|
|
4,800
|
6.250%, 12/01/37
|
12/18 at 100.00
|
Baa3
|
5,050,608
|
|
1,000
|
Dormitory Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish
|
5/21 at 100.00
|
A
|
1,083,900
|
|
|
Obligated Group, Series 2011A, 5.000%, 5/01/41
|
|
|
|
|
3,700
|
Dormitory Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish
|
5/25 at 100.00
|
A
|
3,986,861
|
|
|
Obligated Group, Series 2015A, 5.000%, 5/01/43
|
|
|
|
|
500
|
Dutchess County Local Development Corporation, New York, Revenue Bonds, Health Quest Systems
|
7/20 at 100.00
|
A–
|
549,530
|
|
|
Inc, Series 2010A, 5.750%, 7/01/30
|
|
|
|
|
|
Dutchess County Local Development Corporation, New York, Revenue Bonds, Health Quest Systems,
|
|
|
|
|
|
Inc. Project, Series 2016B:
|
|
|
|
|
2,550
|
5.000%, 7/01/31
|
7/26 at 100.00
|
A–
|
2,839,374
|
|
1,500
|
5.000%, 7/01/46
|
7/26 at 100.00
|
A–
|
1,617,180
|
|
710
|
Livingston County Industrial Development Agency, New York, Civic Facility Revenue Bonds,
|
2/17 at 100.00
|
BB
|
711,711
|
|
|
Nicholas H. Noyes Hospital, Series 2005, 6.000%, 7/01/30
|
|
|
|
|
715
|
Monroe County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue
|
2/21 at 100.00
|
AA
|
808,315
|
|
|
Bonds, Unity Hospital of Rochester Project, Series 2010, 5.750%, 8/15/35
|
|
|
|
|
2,730
|
Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health
|
7/21 at 100.00
|
BBB+
|
2,954,351
|
|
|
Services of Long Island Obligated Group Project, Refunding Series 2011, 5.000%, 7/01/28
|
|
|
|
|
1,610
|
Yates County Industrial Development Agency, New York, FHA-Insured Civic Facility Mortgage
|
2/17 at 100.00
|
N/R
|
1,609,839
|
|
|
Revenue Bonds, Soldiers and Sailors Memorial Hospital, Series 1999A, 5.650%, 2/01/39
|
|
|
|
|
2,265
|
Yonkers Industrial Development Agency, New York, Revenue Bonds, St. John’s Riverside Hospital,
|
1/17 at 100.00
|
BB–
|
2,268,692
|
|
|
Series 2001A, 7.125%, 7/01/31
|
|
|
|
|
650
|
Yonkers Industrial Development Agency, New York, Revenue Bonds, St. John’s Riverside Hospital,
|
2/17 at 100.00
|
BB–
|
651,060
|
|
|
Series 2001B, 7.125%, 7/01/31
|
|
|
|
|
30,515
|
Total Health Care
|
|
|
32,402,416
|
|
|
Housing/Multifamily – 2.6% (1.6% of Total Investments)
|
|
|
|
|
4,000
|
New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds,
|
5/19 at 100.00
|
AA+
|
4,098,040
|
|
|
Series 2009J, 4.800%, 5/01/36
|
|
|
|
|
705
|
New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds,
|
5/20 at 100.00
|
AA+
|
755,386
|
|
|
Series 2010D-1A, 5.000%, 11/01/42
|
|
|
|
|
2,000
|
New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Series 2007B, 5.300%,
|
11/17 at 100.00
|
Aa2
|
2,016,680
|
|
|
11/01/37 (Alternative Minimum Tax)
|
|
|
|
|
600
|
New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Series 2009B,
|
5/19 at 100.00
|
Aa2
|
613,764
|
|
|
4.500%, 11/01/29
|
|
|
|
|
2,000
|
New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Series 2010A,
|
5/20 at 100.00
|
Aa2
|
2,056,820
|
|
|
5.000%, 11/01/42
|
|
|
|
|
1,385
|
New York State Housing Finance Agency, Affordable Housing Revenue, Series 2007A, 5.250%,
|
11/17 at 100.00
|
Aa2
|
1,394,570
|
|
|
11/01/38 (Alternative Minimum Tax)
|
|
|
|
|
685
|
New York State Housing Finance Agency, Secured Mortgage Program Multifamily Housing Revenue
|
2/17 at 100.00
|
Aa1
|
686,740
|
|
|
Bonds, Series 1999I, 6.200%, 2/15/20 (Alternative Minimum Tax)
|
|
|
|
|
11,375
|
Total Housing/Multifamily
|
|
|
11,622,000
|
|
|
Housing/Single Family – 0.1% (0.1% of Total Investments)
|
|
|
|
|
645
|
Guam Housing Corporation, Mortgage-Backed Securities Program Single Family Mortgage Revenue
|
No Opt. Call
|
N/R
|
672,316
|
|
|
Bonds, Series 1998A, 5.750%, 9/01/31 (Alternative Minimum Tax)
|
|
|
|
|
|
Industrials – 4.0% (2.5% of Total Investments)
|
|
|
|
|
445
|
Build New York City Resource Corporation, New York, Solid Waste Disposal Revenue Bonds, Pratt
|
1/25 at 100.00
|
N/R
|
479,933
|
|
|
Paper NY, Inc. Project, Series 2014, 5.000%, 1/01/35 (Alternative Minimum Tax)
|
|
|
|
|
17,145
|
New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade
|
11/24 at 100.00
|
N/R
|
17,424,806
|
|
|
Center Project, Class 1 Series 2014, 5.000%, 11/15/44
|
|
|
|
|
17,590
|
Total Industrials
|
|
|
17,904,739
|
|
|
Long-Term Care – 2.0% (1.3% of Total Investments)
|
|
|
|
|
2,095
|
Dormitory Authority of the State of New York, GNMA Collateralized Revenue Bonds, Cabrini of
|
2/17 at 103.00
|
AA+
|
2,173,374
|
|
|
Westchester Project, Series 2006, 5.200%, 2/15/41
|
|
|
|
|
1,275
|
Dormitory Authority of the State of New York, Non-State Supported Debt, Ozanam Hall of Queens
|
11/16 at 100.00
|
Baa1
|
1,180,867
|
|
|
Nursing Home Revenue Bonds, Series 2006, 5.000%, 11/01/31
|
|
|
|
|
3,240
|
East Rochester Housing Authority, New York, Senior Living Revenue Bonds, Woodland Village
|
8/18 at 100.00
|
N/R
|
3,261,254
|
|
|
Project, Series 2006, 5.500%, 8/01/33
|
|
|
|
|
|
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Special
|
|
|
|
|
|
Needs Facilities Pooled Program, Series 2008A-1:
|
|
|
|
|
760
|
5.500%, 7/01/18
|
2/17 at 101.00
|
N/R
|
752,529
|
|
1,155
|
5.800%, 7/01/23
|
2/17 at 101.00
|
N/R
|
1,120,315
|
|
|
Suffolk County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Special
|
|
|
|
|
|
Needs Facilities Pooled Program, Series 2008-B1:
|
|
|
|
|
160
|
5.500%, 7/01/18
|
2/17 at 101.00
|
N/R
|
136,006
|
|
340
|
5.800%, 7/01/23
|
7/18 at 100.00
|
N/R
|
253,093
|
|
170
|
Yonkers Industrial Development Agency, New York, Civic Facilities Revenue Bonds, Special Needs
|
7/18 at 100.00
|
N/R
|
164,895
|
|
|
Facilities Pooled Program Bonds, Series 2008-C1, 5.800%, 7/01/23
|
|
|
|
|
9,195
|
Total Long-Term Care
|
|
|
9,042,333
|
|
|
Tax Obligation/General – 13.1% (8.4% of Total Investments)
|
|
|
|
|
500
|
Nassau County, New York, General Obligation Bonds, General Improvement Series, Refunding
|
1/26 at 100.00
|
A+
|
544,120
|
|
|
2016A, 5.000%, 1/01/38
|
|
|
|
|
|
Nassau County, New York, General Obligation Bonds, General Improvment Series 2016C:
|
|
|
|
|
3,630
|
5.000%, 4/01/26
|
No Opt. Call
|
A+
|
4,194,102
|
|
2,000
|
5.000%, 4/01/43
|
4/26 at 100.00
|
A+
|
2,164,160
|
|
|
New York City, New York, General Obligation Bonds, Fiscal 2007, Series 2007D-1:
|
|
|
|
|
11,130
|
5.125%, 12/01/25 (UB)
|
12/17 at 100.00
|
AA
|
11,578,093
|
|
10,000
|
5.125%, 12/01/26 (UB)
|
12/17 at 100.00
|
AA
|
10,400,600
|
|
400
|
New York City, New York, General Obligation Bonds, Fiscal 2009 Series E, 5.000%, 8/01/28
|
8/19 at 100.00
|
AA
|
430,408
|
|
1,000
|
New York City, New York, General Obligation Bonds, Fiscal 2012 Series B, 5.000%, 8/01/30
|
No Opt. Call
|
AA
|
1,116,410
|
|
980
|
New York City, New York, General Obligation Bonds, Fiscal 2012 Series I, 5.000%, 8/01/32
|
8/22 at 100.00
|
AA
|
1,094,082
|
|
5,000
|
New York City, New York, General Obligation Bonds, Fiscal 2014 Series A-1, 5.000%, 8/01/26
|
8/23 at 100.00
|
AA
|
5,738,550
|
|
8,365
|
New York City, New York, General Obligation Bonds, Fiscal 2015 Series B, 5.000%, 8/01/30
|
8/24 at 100.00
|
AA
|
9,478,716
|
|
3,775
|
New York City, New York, General Obligation Bonds, Subseries G-1 Fiscal Series 2012,
|
No Opt. Call
|
AA
|
4,254,689
|
|
|
5.000%, 4/01/28
|
|
|
|
|
|
New York City, New York, General Obligation Bonds, Tender Option Bond Trust 2016-XG0082:
|
|
|
|
|
3,125
|
16.785%, 3/01/31 (IF) (4)
|
3/23 at 100.00
|
AA
|
4,676,625
|
|
1,525
|
16.785%, 3/01/31 (IF) (4)
|
3/23 at 100.00
|
AA
|
2,282,193
|
|
|
Rochester, New York, General Obligation Bonds, Series 1999:
|
|
|
|
|
720
|
5.250%, 10/01/18 – NPFG Insured
|
No Opt. Call
|
AA–
|
771,012
|
|
720
|
5.250%, 10/01/19 – NPFG Insured
|
No Opt. Call
|
AA–
|
792,144
|
|
52,870
|
Total Tax Obligation/General
|
|
|
59,515,904
|
|
|
Tax Obligation/Limited – 26.6% (16.9% of Total Investments)
|
|
|
|
|
1,285
|
Dormitory Authority of the State of New York, Revenue Bonds, State University Educational
|
No Opt. Call
|
AA
|
1,313,488
|
|
|
Facilities, Series 1993A, 5.875%, 5/15/17 – FGIC Insured
|
|
|
|
|
980
|
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General
|
3/21 at 100.00
|
AAA
|
1,069,562
|
|
|
Purpose Series 2011C, 5.000%, 3/15/41
|
|
|
|
|
1,000
|
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General
|
No Opt. Call
|
AAA
|
1,118,230
|
|
|
Purpose Series 2012D, 5.000%, 2/15/33
|
|
|
|
|
5,000
|
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General
|
2/23 at 100.00
|
AAA
|
5,461,650
|
|
|
Purpose Series 2013A, 5.000%, 2/15/43
|
|
|
|
|
2,080
|
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General
|
3/24 at 100.00
|
AAA
|
2,284,776
|
|
|
Purpose Series 2014C, Group C, 5.000%, 3/15/44
|
|
|
|
|
1,000
|
Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2013A,
|
3/23 at 100.00
|
AAA
|
1,102,990
|
|
|
5.000%, 3/15/43
|
|
|
|
|
|
Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2015B.
|
|
|
|
|
|
Group A,B&C:
|
|
|
|
|
1,500
|
5.000%, 3/15/32
|
9/25 at 100.00
|
AAA
|
1,717,785
|
|
1,000
|
5.000%, 3/15/35
|
9/25 at 100.00
|
AAA
|
1,132,850
|
|
1,000
|
Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2016A,
|
9/26 at 100.00
|
AAA
|
1,179,720
|
|
|
5.000%, 3/15/29
|
|
|
|
|
2,500
|
Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D, 5.000%, 11/15/29
|
No Opt. Call
|
A
|
2,734,900
|
|
|
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012
|
|
|
|
|
|
Series 2011A:
|
|
|
|
|
6,700
|
5.750%, 2/15/47
|
2/21 at 100.00
|
A
|
7,560,146
|
|
2,000
|
5.250%, 2/15/47
|
2/21 at 100.00
|
A
|
2,201,940
|
|
5,500
|
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 5.000%, 2/15/47
|
2/17 at 100.00
|
A
|
5,532,780
|
|
|
Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Refunding
|
|
|
|
|
|
Series 2012A:
|
|
|
|
|
1,815
|
5.000%, 11/15/27
|
No Opt. Call
|
AA
|
2,088,992
|
|
2,250
|
5.000%, 11/15/29
|
11/22 at 100.00
|
AA
|
2,581,717
|
|
2,175
|
Metropolitan Transportation Authority, New York, State Service Contract Refunding Bonds,
|
No Opt. Call
|
AA
|
2,325,706
|
|
|
Series 2002A, 5.750%, 7/01/18
|
|
|
|
|
6,500
|
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal
|
1/17 at 100.00
|
AA
|
6,531,460
|
|
|
Series 2007S-2, 5.000%, 1/15/28 – FGIC Insured
|
|
|
|
|
1,870
|
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal
|
No Opt. Call
|
AA
|
2,096,120
|
|
|
Series 2013S-1, 5.000%, 7/15/31
|
|
|
|
|
405
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal
|
5/17 at 100.00
|
AAA
|
410,909
|
|
|
Series 2007B, 5.000%, 11/01/30
|
|
|
|
|
5,000
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal
|
8/26 at 100.00
|
AAA
|
5,619,250
|
|
|
Series 2016B-1, 5.000%, 8/01/36
|
|
|
|
|
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate
|
|
|
|
|
|
Fiscal 2012 Series E-1:
|
|
|
|
|
3,775
|
5.000%, 2/01/37
|
2/22 at 100.00
|
AAA
|
4,214,334
|
|
3,950
|
5.000%, 2/01/42
|
2/22 at 100.00
|
AAA
|
4,375,415
|
|
3,090
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate
|
No Opt. Call
|
AAA
|
3,509,282
|
|
|
Fiscal 2013 Series F-1, 5.000%, 2/01/29
|
|
|
|
|
7,860
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate
|
5/23 at 100.00
|
AAA
|
8,795,890
|
|
|
Fiscal 2013 Series I, 5.000%, 5/01/38
|
|
|
|
|
4,170
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate
|
2/24 at 100.00
|
AAA
|
4,704,260
|
|
|
Fiscal 2014 Series D-1, 5.000%, 2/01/35
|
|
|
|
|
5,000
|
New York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds,
|
11/20 at 100.00
|
AAA
|
5,658,100
|
|
|
Subordinate Lien Series 2011C, 5.500%, 11/01/35
|
|
|
|
|
2,000
|
New York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds,
|
2/21 at 100.00
|
AAA
|
2,190,640
|
|
|
Subordinate Series 2011-D1, 5.000%, 2/01/35
|
|
|
|
|
2,400
|
New York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds,
|
5/19 at 100.00
|
AAA
|
2,892,624
|
|
|
Tender Option Bond Trust 2015-XF0080, 12.642%, 5/01/38 (IF)
|
|
|
|
|
6,000
|
New York City, New York, Educational Construction Fund, Revenue Bonds, Series 2011A,
|
4/21 at 100.00
|
AA–
|
6,830,820
|
|
|
5.750%, 4/01/41
|
|
|
|
|
11,300
|
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Series 2005B, 5.500%,
|
No Opt. Call
|
AA+
|
12,725,834
|
|
|
4/01/20 – AMBAC Insured (UB) (4)
|
|
|
|
|
2,110
|
New York State Thruway Authority, State Personal Income Tax Revenue Bonds, Series 2010A,
|
9/20 at 100.00
|
AAA
|
2,338,618
|
|
|
5.000%, 3/15/29
|
|
|
|
|
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A:
|
|
|
|
|
16,000
|
0.000%, 8/01/43 – NPFG Insured
|
No Opt. Call
|
AA–
|
3,574,080
|
|
12,500
|
0.000%, 8/01/45 – NPFG Insured
|
No Opt. Call
|
AA–
|
2,495,375
|
|
131,715
|
Total Tax Obligation/Limited
|
|
|
120,370,243
|
|
|
Transportation – 24.3% (15.5% of Total Investments)
|
|
|
|
|
12,560
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Green
|
11/26 at 100.00
|
AA–
|
12,525,586
|
|
|
Series 2016B, 4.000%, 11/15/36
|
|
|
|
|
7,500
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding
|
11/25 at 100.00
|
AA–
|
8,426,100
|
|
|
Series 2015D-1, 5.000%, 11/15/30
|
|
|
|
|
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2010D:
|
|
|
|
|
4,000
|
5.000%, 11/15/34
|
11/20 at 100.00
|
AA–
|
4,430,960
|
|
1,560
|
5.250%, 11/15/40
|
11/20 at 100.00
|
AA–
|
1,729,026
|
|
6,640
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2012E,
|
No Opt. Call
|
AA–
|
7,332,884
|
|
|
5.000%, 11/15/42
|
|
|
|
|
2,000
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013E,
|
11/23 at 100.00
|
AA–
|
2,241,500
|
|
|
5.000%, 11/15/31
|
|
|
|
|
5,425
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2015A-1,
|
5/25 at 100.00
|
AA–
|
5,887,970
|
|
|
5.000%, 11/15/45
|
|
|
|
|
2,000
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2016B,
|
11/26 at 100.00
|
AA–
|
2,218,420
|
|
|
5.250%, 11/15/35
|
|
|
|
|
|
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Bronx
|
|
|
|
|
|
Parking Development Company, LLC Project, Series 2007:
|
|
|
|
|
200
|
5.750%, 10/01/37 (5)
|
10/17 at 100.00
|
N/R
|
64,436
|
|
5,500
|
5.875%, 10/01/46 (5)
|
10/17 at 102.00
|
N/R
|
1,771,990
|
|
2,850
|
New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 4 World Trade
|
11/21 at 100.00
|
A+
|
3,136,966
|
|
|
Center Project, Series 2011, 5.000%, 11/15/44
|
|
|
|
|
|
New York Transportation Development Corporation, New York, Special Facility Revenue Bonds,
|
|
|
|
|
|
American Airlines, Inc. John F Kennedy International Airport Project, Refunding Series 2016:
|
|
|
|
|
1,855
|
5.000%, 8/01/26 (Alternative Minimum Tax)
|
8/21 at 100.00
|
BB–
|
1,947,472
|
|
1,010
|
5.000%, 8/01/31 (Alternative Minimum Tax)
|
8/21 at 100.00
|
BB–
|
1,026,443
|
|
12,110
|
New York Transportation Development Corporation, Special Facilities Bonds, LaGuardia Airport
|
7/24 at 100.00
|
BBB
|
12,330,523
|
|
|
Terminal B Redevelopment Project, Series 2016A, 5.000%, 7/01/46 (Alternative Minimum Tax)
|
|
|
|
|
1,350
|
New York State Thruway Authority, General Revenue Junior Indebtedness Obligations, Series
|
1/26 at 100.00
|
A–
|
1,453,019
|
|
|
2016A, 5.000%, 1/01/46
|
|
|
|
|
|
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred
|
|
|
|
|
|
Eighty-Forth Series 2014:
|
|
|
|
|
6,000
|
5.000%, 9/01/33
|
9/24 at 100.00
|
AA–
|
6,819,840
|
|
4,000
|
5.000%, 9/01/34
|
9/24 at 100.00
|
AA–
|
4,528,840
|
|
8,780
|
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred
|
5/25 at 100.00
|
AA–
|
9,685,833
|
|
|
Eighty-Ninth Series 2015, 5.000%, 5/01/45
|
|
|
|
|
5,000
|
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Sixty Sixth
|
1/21 at 100.00
|
AA–
|
5,501,000
|
|
|
Series 2011, 5.000%, 1/15/41
|
|
|
|
|
|
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air
|
|
|
|
|
|
Terminal LLC Project, Eighth Series 2010:
|
|
|
|
|
1,020
|
6.500%, 12/01/28
|
2/17 at 100.00
|
Baa1
|
1,049,050
|
|
5,000
|
6.000%, 12/01/36
|
12/20 at 100.00
|
Baa1
|
5,669,350
|
|
5,000
|
Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding
|
5/26 at 100.00
|
AA–
|
5,599,400
|
|
|
Series 2016A, 5.000%, 11/15/41
|
|
|
|
|
780
|
Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding
|
No Opt. Call
|
AA–
|
892,429
|
|
|
Subordinate Lien Series 2002E, 5.500%, 11/15/20 – NPFG Insured
|
|
|
|
|
3,500
|
Triborough Bridge and Tunnel Authority, New York, Subordinate Lien General Purpose Revenue
|
11/18 at 100.00
|
AA–
|
3,956,330
|
|
|
Refunding Bonds, Tender Option Bond Trust 2016-XG0004, 8.815%, 11/15/33 (IF) (4)
|
|
|
|
|
105,640
|
Total Transportation
|
|
|
110,225,367
|
|
|
U.S. Guaranteed – 17.5% (11.2% of Total Investments) (6)
|
|
|
|
|
|
Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue
|
|
|
|
|
|
Bonds, Barclays Center Project, Series 2009:
|
|
|
|
|
2,950
|
6.250%, 7/15/40 (Pre-refunded 1/15/20)
|
1/20 at 100.00
|
AA+ (6)
|
3,365,183
|
|
1,000
|
6.375%, 7/15/43 (Pre-refunded 1/15/20)
|
1/20 at 100.00
|
AA+ (6)
|
1,144,530
|
|
400
|
Canton Capital Resource Corporation, New York, Student Housing Facility Revenue Bonds, Grasse
|
5/20 at 100.00
|
AA (6)
|
444,980
|
|
|
River LLC at SUNY Canton Project Series 2010A, 5.000%, 5/01/40 (Pre-refunded 5/01/20)
|
|
|
|
|
1,750
|
Dormitory Authority of the State of New York, Revenue Bonds, New School University, Series
|
7/20 at 100.00
|
A– (6)
|
1,968,470
|
|
|
2010, 5.250%, 7/01/30 (Pre-refunded 7/01/20)
|
|
|
|
|
5,000
|
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2007,
|
7/17 at 100.00
|
AA– (6)
|
5,121,600
|
|
|
5.000%, 7/01/32 (Pre-refunded 7/01/17) – AMBAC Insured
|
|
|
|
|
1,000
|
Dormitory Authority of the State of New York, Revenue Bonds, NYU Hospitals Center, Refunding
|
7/17 at 100.00
|
N/R (6)
|
1,024,500
|
|
|
Series 2007A, 5.000%, 7/01/36 (Pre-refunded 7/01/17)
|
|
|
|
|
3,500
|
Dormitory Authority of the State of New York, Revenue Bonds, NYU Hospitals Center, Series
|
7/17 at 100.00
|
N/R (6)
|
3,596,845
|
|
|
2007B, 5.625%, 7/01/37 (Pre-refunded 7/01/17)
|
|
|
|
|
5,500
|
Dormitory Authority of the State of New York, Revenue Bonds, NYU Hospitals Center, Series
|
7/20 at 100.00
|
A– (6)
|
6,329,675
|
|
|
2011A, 6.000%, 7/01/40 (Pre-refunded 7/01/20)
|
|
|
|
|
|
Dormitory Authority of the State of New York, Revenue Bonds, Providence Rest, Series 2005:
|
|
|
|
|
100
|
5.125%, 7/01/30 (Pre-refunded 2/03/17) – ACA Insured
|
2/17 at 100.00
|
N/R (6)
|
97,672
|
|
850
|
5.000%, 7/01/35 (Pre-refunded 2/03/17) – ACA Insured
|
2/17 at 100.00
|
N/R (6)
|
815,966
|
|
|
Madison County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Oneida
|
|
|
|
|
|
Health System, Series 2007A:
|
|
|
|
|
1,395
|
5.250%, 2/01/27 (Pre-refunded 2/01/17)
|
2/17 at 100.00
|
Aaa
|
1,405,602
|
|
1,235
|
5.500%, 2/01/32 (Pre-refunded 2/01/17)
|
2/17 at 100.00
|
Aaa
|
1,244,905
|
|
3,370
|
Monroe Newpower Corporation, New York, Power Facilities Revenue Bonds, Series 2003, 5.500%,
|
1/17 at 100.00
|
A– (6)
|
3,383,615
|
|
|
1/01/34 (Pre-refunded 1/01/17)
|
|
|
|
|
795
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal
|
5/17 at 100.00
|
N/R (6)
|
809,008
|
|
|
Series 2007B, 5.000%, 11/01/30 (Pre-refunded 5/01/17)
|
|
|
|
|
|
New York State Environmental Facilities Corporation, State Personal Income Tax Revenue Bonds,
|
|
|
|
|
|
Series 2008A:
|
|
|
|
|
2,920
|
5.000%, 12/15/26 (Pre-refunded 12/15/17) (UB)
|
12/17 at 100.00
|
AAA
|
3,045,560
|
|
7,020
|
5.000%, 12/15/27 (Pre-refunded 12/15/17) (UB)
|
12/17 at 100.00
|
AAA
|
7,321,860
|
|
5,550
|
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Series 2007, 5.000%,
|
10/17 at 100.00
|
AA+ (6)
|
5,738,811
|
|
|
4/01/27 (Pre-refunded 10/01/17)
|
|
|
|
|
1,330
|
New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, Tender
|
3/17 at 100.00
|
AAA
|
1,379,130
|
|
|
Option Bond Trust 09-6W, 12.370%, 3/15/37 (Pre-refunded 3/15/17) (IF) (4)
|
|
|
|
|
1,520
|
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Forty
|
8/17 at 100.00
|
AA (6)
|
1,699,725
|
|
|
Eighth Series 2008, Tender Option Bond Trust 2015-XF2178, 16.499%, 8/15/32 (Pre-refunded
|
|
|
|
|
|
8/15/17) – AGM Insured (IF) (4)
|
|
|
|
|
835
|
Seneca County Industrial Development Authority, New York, Revenue Bonds, New York Chiropractic
|
10/17 at 100.00
|
N/R (6)
|
863,657
|
|
|
College, Series 2007, 5.000%, 10/01/27 (Pre-refunded 10/01/17)
|
|
|
|
|
470
|
Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health
|
7/21 at 100.00
|
N/R (6)
|
534,804
|
|
|
Services of Long Island Obligated Group Project, Refunding Series 2011, 5.000%, 7/01/28
|
|
|
|
|
|
(Pre-refunded 7/01/21)
|
|
|
|
|
1,600
|
Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Series 1993B,
|
No Opt. Call
|
AA+ (6)
|
1,719,424
|
|
|
5.000%, 1/01/20 (ETM)
|
|
|
|
|
7,500
|
Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Series 1999B,
|
1/22 at 100.00
|
AA+ (6)
|
8,810,925
|
|
|
5.500%, 1/01/30 (Pre-refunded 1/01/22)
|
|
|
|
|
|
TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006:
|
|
|
|
|
1,390
|
4.750%, 6/01/22 (Pre-refunded 2/03/17)
|
2/17 at 100.00
|
BBB– (6)
|
1,390,626
|
|
4,390
|
5.000%, 6/01/26 (Pre-refunded 2/03/17)
|
2/17 at 100.00
|
BB– (6)
|
4,361,158
|
|
3,800
|
5.000%, 6/01/34 (Pre-refunded 2/03/17)
|
2/17 at 100.00
|
B (6)
|
3,625,542
|
|
7,530
|
5.125%, 6/01/42 (Pre-refunded 2/03/17)
|
2/17 at 100.00
|
B– (6)
|
6,995,445
|
|
1,000
|
Yonkers Industrial Development Agency, New York, Civic Facility Revenue Bonds, Sarah Lawrence
|
6/19 at 100.00
|
BBB (6)
|
1,112,260
|
|
|
College Project, Series 2001A Remarketed, 6.000%, 6/01/41 (Pre-refunded 6/01/19)
|
|
|
|
|
75,700
|
Total U.S. Guaranteed
|
|
|
79,351,478
|
|
|
Utilities – 12.6% (8.0% of Total Investments)
|
|
|
|
|
3,500
|
Chautauqua County Industrial Development Agency, New York, Exempt Facility Revenue Bonds, NRG
|
2/20 at 100.00
|
Baa3
|
3,667,825
|
|
|
Dunkirk Power Project, Series 2009, 5.875%, 4/01/42
|
|
|
|
|
370
|
Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/34
|
10/22 at 100.00
|
BBB
|
384,967
|
|
1,460
|
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2014A,
|
9/24 at 100.00
|
A–
|
1,599,196
|
|
|
5.000%, 9/01/44
|
|
|
|
|
|
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A:
|
|
|
|
|
1,000
|
5.000%, 5/01/36 – AGM Insured
|
5/21 at 100.00
|
AA
|
1,090,690
|
|
8,265
|
5.000%, 5/01/38
|
5/21 at 100.00
|
A–
|
8,901,653
|
|
1,250
|
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2012A,
|
No Opt. Call
|
A–
|
1,373,512
|
|
|
5.000%, 9/01/37
|
|
|
|
|
11,760
|
Niagara Area Development Corporation, New York, Solid Waste Disposal Facility Revenue
|
No Opt. Call
|
BB+
|
11,862,900
|
|
|
Refunding Bonds, Covanta Energy Project, Series 2012A, 5.250%, 11/01/42 (Alternative
|
|
|
|
|
|
Minimum Tax)
|
|
|
|
|
3,700
|
Suffolk County Industrial Development Agency, New York, Revenue Bonds, Nissequogue
|
1/17 at 100.00
|
N/R
|
3,679,983
|
|
|
Cogeneration Partners Facility, Series 1998, 5.500%, 1/01/23 (Alternative Minimum Tax)
|
|
|
|
|
5,785
|
Utility Debt Securitization Authority, New York, Restructuring Bonds, Refunding Series 2015,
|
12/25 at 100.00
|
AAA
|
6,655,700
|
|
|
5.000%, 12/15/32
|
|
|
|
|
|
Utility Debt Securitization Authority, New York, Restructuring Bonds, Refunding Series 2016A;
|
|
|
|
|
1,500
|
5.000%, 12/15/34
|
6/26 at 100.00
|
AAA
|
1,725,810
|
|
1,515
|
5.000%, 12/15/35
|
6/26 at 100.00
|
AAA
|
1,739,023
|
|
|
Utility Debt Securitization Authority, New York, Restructuring Bonds, Series 2013TE:
|
|
|
|
|
3,800
|
5.000%, 12/15/33
|
12/23 at 100.00
|
AAA
|
4,315,280
|
|
1,060
|
5.000%, 12/15/34
|
12/23 at 100.00
|
AAA
|
1,199,401
|
|
8,030
|
5.000%, 12/15/41
|
12/23 at 100.00
|
AAA
|
9,058,804
|
|
52,995
|
Total Utilities
|
|
|
57,254,744
|
|
|
Water and Sewer – 7.9% (5.0% of Total Investments)
|
|
|
|
|
4,000
|
Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2010,
|
7/20 at 100.00
|
A–
|
4,227,320
|
|
|
5.625%, 7/01/40
|
|
|
|
|
4,140
|
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue
|
12/21 at 100.00
|
AA+
|
4,604,922
|
|
|
Bonds, Second Generation Resolution, Fiscal 2012 Series BB, 5.000%, 6/15/44
|
|
|
|
|
5,000
|
New York City Municipal Water Finance Authority, New York, Water and Sewer System Second
|
6/24 at 100.00
|
AA+
|
5,648,800
|
|
|
General Resolution Revenue Bonds, Fiscal 2014 Series DD, 5.000%, 6/15/35
|
|
|
|
|
9,750
|
New York State Environmental Facilities Corporation, State Clean Water and Drinking Water
|
6/21 at 100.00
|
AAA
|
10,813,237
|
|
|
Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects,
|
|
|
|
|
|
Second Resolution Series 2011B, 5.000%, 6/15/41
|
|
|
|
|
1,000
|
New York State Environmental Facilities Corporation, State Clean Water and Drinking Water
|
6/25 at 100.00
|
AAA
|
1,126,420
|
|
|
Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects,
|
|
|
|
|
|
Second Resolution Subordinated SRF Series 2015A, 5.000%, 6/15/40
|
|
|
|
|
5,000
|
New York State Environmental Facilities Corporation, State Clean Water and Drinking Water
|
6/26 at 100.00
|
AAA
|
5,099,400
|
|
|
Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects,
|
|
|
|
|
|
Second Resolution Subordinated SRF Series 2016A, 4.000%, 6/15/46
|
|
|
|
|
3,840
|
New York State Environmental Facilities Corporation, State Revolving Funds Revenue Bonds, 2010
|
4/20 at 100.00
|
AAA
|
4,178,419
|
|
|
Master Financing Program, Series 2010C, 5.000%, 10/15/35
|
|
|
|
|
32,730
|
Total Water and Sewer
|
|
|
35,698,518
|
|
$ 686,355
|
Total Municipal Bonds (cost $684,841,645)
|
|
|
708,005,495
|
|
|
|||||
Shares
|
Description (1)
|
|
|
Value
|
|
|
COMMON STOCKS – 0.8% (0.5% of Total Investments)
|
|
|
|
|
|
Airlines – 0.8% (0.5% of Total Investments)
|
|
|
|
|
78,264
|
American Airlines Group Inc., (7)
|
|
|
$ 3,634,580
|
|
|
Total Common Stocks (cost $2,431,776)
|
|
|
3,634,580
|
|
|
Total Long-Term Investments (cost $687,273,421)
|
|
|
711,640,075
|
|
|
Floating Rate Obligations – (6.5)%
|
|
|
(29,570,000)
|
|
|
Variable Rate MuniFund Term Preferred Shares, at Liquidation Preference – (32.5)% (8)
|
|
|
(147,000,000)
|
|
|
Variable Rate Demand Preferred Shares, at Liquidation Preference – (19.6)% (9)
|
|
|
(89,000,000)
|
|
|
Other Assets Less Liabilities – 1.5%
|
|
|
6,917,816
|
|
|
Net Assets Applicable to Common Shares – 100%
|
|
|
$ 452,987,891
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
Long-Term Investments:
|
|
|
|
|
Municipal Bonds
|
$ —
|
$708,005,495
|
$ —
|
$708,005,495
|
Common Stocks
|
3,634,580
|
—
|
—
|
3,634,580
|
Total
|
$3,634,580
|
$708,005,495
|
$ —
|
$711,640,075
|
Gross unrealized:
|
|
Appreciation
|
$34,135,910
|
Depreciation
|
(8,968,037)
|
Net unrealized appreciation (depreciation) of investments
|
$25,167,873
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets applicable to common
|
|
|
shares unless otherwise noted.
|
|
(2)
|
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption.
|
|
|
There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities
|
|
|
may be subject to periodic principal paydowns.
|
|
(3)
|
For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group
|
|
|
(“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This
|
|
|
treatment of split-rated securities may differ from that used for other purposes, such as for Fund
|
|
|
investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are
|
|
|
considered to be below investment grade. Holdings designated N/R are not rated by any of these
|
|
|
national rating agencies.
|
|
(4)
|
Investment, or portion of investment, has been pledged to collateralize the net payment obligations
|
|
|
for investments in inverse floating rate transactions.
|
|
(5)
|
As of, or subsequent to, the end of the reporting period, this security is non-income producing.
|
|
|
Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has
|
|
|
(1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy
|
|
|
Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest
|
|
|
payment obligations and has ceased accruing additional income on the Fund’s records.
|
|
(6)
|
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities,
|
|
|
which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or
|
|
|
agency securities are regarded as having an implied rating equal to the ratings of such securities.
|
|
(7)
|
On November 28, 2011, AMR Corp. (“AMR”), the parent company of American Airlines Group, Inc. (“AAL”)
|
|
|
filed for federal bankruptcy protection. On December 9, 2013, AMR emerged from federal bankruptcy with
|
|
|
the acceptance of its reorganization plan by the bankruptcy court. Under the settlement agreement
|
|
|
established to meet AMR’s unsecured bond obligations, the bondholders, including the Fund, received a
|
|
|
distribution of AAL preferred stock which was converted to AAL common stock over a 120– day period.
|
|
|
Every 30 days, a quarter of the preferred stock was converted to AAL common stock based on the 5-day
|
|
|
volume-weighted average price and the amount of preferred shares tendered during the optional preferred
|
|
|
conversion period.
|
|
(8)
|
Variable Rate MuniFund Term Preferred Shares, at Liquidation Preference as a percentage of Total
|
|
|
Investments is 20.7%.
|
|
(9)
|
Variable Rate Demand Preferred Shares, at Liquidation Preference as a percentage of Total
|
|
|
Investments is 12.5%.
|
(ETM)
|
Escrowed to maturity.
|
|
(IF)
|
Inverse floating rate investment.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction.
|
|
(WI/DD)
|
Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.
|
a.
|
The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
|
b.
|
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
|
By (Signature and Title) | /s/ Gifford R. Zimmerman |
Gifford R. Zimmerman
Vice President and Secretary
|
By (Signature and Title) | /s/ Cedric H. Antosiewicz |
Cedric H. Antosiewicz
Chief Administrative Officer (principal executive officer)
|
By (Signature and Title) | /s/ Stephen D. Foy |
Stephen D. Foy
Vice President and Controller (principal financial officer)
|