|
|
|
|
|
|
|
|
|
|
|
Portfolio of Investments (Unaudited)
|
|
|
|
|
|
|
|
|
Nuveen Insured California Dividend Advantage Municipal Fund (NKL)
|
|
|
|
|
|
|
|
|
May 31, 2009
|
|
|
|
|
|
|
Principal
|
|
|
|
Optional Call
|
|
|
|
|
Amount (000)
|
|
Description (1)
|
|
Provisions (2)
|
|
Ratings (3)
|
|
Value
|
|
|
|
Consumer Staples 3.0% (2.0% of Total Investments)
|
|
|
|
|
|
|
$ 14,155
|
|
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement
|
|
6/22 at 100.00
|
|
BBB
|
$
|
6,330,541
|
|
|
Asset-Backed Bonds, Series 2007A-2, 0.000%, 6/01/37
|
|
|
|
|
|
|
|
|
|
Education and Civic Organizations 5.1% (3.3% of Total Investments)
|
|
|
|
|
|
|
1,675
|
|
California Educational Facilities Authority, Revenue Bonds, University of San Diego, Series
|
|
10/12 at 100.00
|
|
A2
|
|
1,684,028
|
|
|
2002A, 5.250%, 10/01/30
|
|
|
|
|
|
|
9,000
|
|
California State University, Systemwide Revenue Bonds, Series 2002A, 5.125%, 11/01/26
|
|
11/12 at 100.00
|
|
Aa3
|
|
9,133,470
|
|
|
AMBAC Insured
|
|
|
|
|
|
|
|
10,675
|
|
Total Education and Civic Organizations
|
|
|
|
|
|
10,817,498
|
|
|
|
Health Care 6.4% (4.2% of Total Investments)
|
|
|
|
|
|
|
5,000
|
|
ABAG Finance Authority for Non-Profit Corporations, California, Cal-Mortgage Insured Revenue
|
|
4/12 at 100.00
|
|
A
|
|
4,929,950
|
|
|
Bonds, Sansum-Santa Barbara Medical Foundation Clinic, Series 2002A, 5.600%, 4/01/26
|
|
|
|
|
|
|
2,815
|
|
California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard
|
|
8/13 at 100.00
|
|
AA
|
|
2,848,864
|
|
|
Childrens Hospital, Series 2003C, 5.000%, 8/15/20 AMBAC Insured
|
|
|
|
|
|
|
1,748
|
|
California Statewide Communities Development Authority, Revenue Bonds, Saint Joseph Health
|
|
7/18 at 100.00
|
|
AAA
|
|
1,621,925
|
|
|
System, Trust 2554, 18.389%, 7/01/47 FSA Insured (IF)
|
|
|
|
|
|
|
5,000
|
|
California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanante System,
|
|
3/16 at 100.00
|
|
A+
|
|
4,338,000
|
|
|
Series 2006, 5.000%, 3/01/41
|
|
|
|
|
|
|
|
14,563
|
|
Total Health Care
|
|
|
|
|
|
13,738,739
|
|
|
|
Housing/Multifamily 1.3% (0.9% of Total Investments)
|
|
|
|
|
|
|
1,000
|
|
California Statewide Community Development Authority, Student Housing Revenue Bonds, EAH
|
|
8/12 at 100.00
|
|
Baa1
|
|
927,320
|
|
|
Irvine East Campus Apartments, LLC Project, Series 2002A, 5.500%, 8/01/22 ACA Insured
|
|
|
|
|
|
|
1,905
|
|
Los Angeles, California, GNMA Mortgage-Backed Securities Program Multifamily Housing
|
|
7/11 at 102.00
|
|
AAA
|
|
1,956,092
|
|
|
Revenue Bonds, Park Plaza West Senior Apartments, Series 2001B, 5.300%, 1/20/21
|
|
|
|
|
|
|
|
|
(Alternative Minimum Tax)
|
|
|
|
|
|
|
|
2,905
|
|
Total Housing/Multifamily
|
|
|
|
|
|
2,883,412
|
|
|
|
Housing/Single Family 0.2% (0.1% of Total Investments)
|
|
|
|
|
|
|
435
|
|
California Housing Finance Agency, Home Mortgage Revenue Bonds, Series 2006H, 5.750%,
|
|
2/16 at 100.00
|
|
Aa2
|
|
436,057
|
|
|
8/01/30 FGIC Insured (Alternative Minimum Tax)
|
|
|
|
|
|
|
|
|
|
Industrials 1.1% (0.7% of Total Investments)
|
|
|
|
|
|
|
2,435
|
|
California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Republic
|
|
No Opt. Call
|
|
BBB
|
|
2,243,439
|
|
|
Services Inc., Series 2002C, 5.250%, 6/01/23 (Mandatory put 12/01/17) (Alternative Minimum Tax)
|
|
|
|
|
|
|
|
|
|
Long-Term Care 1.4% (0.9% of Total Investments)
|
|
|
|
|
|
|
3,000
|
|
ABAG Finance Authority for Non-Profit Corporations, California, Insured Senior Living Revenue
|
|
11/12 at 100.00
|
|
A
|
|
2,935,740
|
|
|
Bonds, Odd Fellows Home of California, Series 2003A, 5.200%, 11/15/22
|
|
|
|
|
|
|
|
|
|
Tax Obligation/General 27.8% (18.3% of Total Investments)
|
|
|
|
|
|
|
5,920
|
|
Cajon Valley Union School District, San Diego County, California, General Obligation Bonds,
|
|
8/10 at 102.00
|
|
AA
|
|
5,979,082
|
|
|
Series 2002B, 5.125%, 8/01/32 MBIA Insured
|
|
|
|
|
|
|
900
|
|
California, General Obligation Bonds, Series 2003, 5.000%, 2/01/21
|
|
8/13 at 100.00
|
|
A
|
|
910,539
|
8,250
|
|
California, General Obligation Refunding Bonds, Series 2002, 5.000%, 2/01/22 MBIA Insured
|
|
2/12 at 100.00
|
|
AA
|
|
8,289,353
|
3,375
|
|
Coast Community College District, Orange County, California, General Obligation Bonds, Series
|
|
8/18 at 100.00
|
|
AAA
|
|
2,777,929
|
|
|
2006C, 0.000%, 8/01/31 FSA Insured
|
|
|
|
|
|
|
230
|
|
El Monte Union High School District, Los Angeles County, California, General Obligation Bonds,
|
|
6/13 at 100.00
|
|
AAA
|
|
232,075
|
|
|
Series 2003A, 5.000%, 6/01/28 FSA Insured
|
|
|
|
|
|
|
2,730
|
|
Fontana Unified School District, San Bernardino County, California, General Obligation Bonds,
|
|
8/18 at 100.00
|
|
AAA
|
|
2,934,832
|
|
|
Trust 2668, 8.739%, 8/01/28 FSA Insured (IF)
|
|
|
|
|
|
|
10,000
|
|
Fremont Unified School District, Alameda County, California, General Obligation Bonds, Series
|
|
8/12 at 101.00
|
|
AA
|
|
9,697,300
|
|
|
2002A, 5.000%, 8/01/25 FGIC Insured
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,000
|
|
Los Rios Community College District, Sacramento, El Dorado and Yolo Counties, California,
|
|
8/14 at 102.00
|
|
AAA
|
|
1,057,930
|
|
|
General Obligation Bonds, Series 2006C, 5.000%, 8/01/25 FSA Insured (UB)
|
|
|
|
|
|
|
1,500
|
|
Madera Unified School District, Madera County, California, General Obligation Bonds, Series
|
|
8/12 at 100.00
|
|
AAA
|
|
1,510,830
|
|
|
2002, 5.000%, 8/01/28 FSA Insured
|
|
|
|
|
|
|
2,000
|
|
Murrieta Valley Unified School District, Riverside County, California, General Obligation
|
|
9/17 at 100.00
|
|
AAA
|
|
1,835,500
|
|
|
Bonds, Series 2007, 4.500%, 9/01/30 FSA Insured
|
|
|
|
|
|
|
2,500
|
|
Oakland Unified School District, Alameda County, California, General Obligation Bonds, Series
|
|
8/12 at 100.00
|
|
AA
|
|
2,483,825
|
|
|
2002, 5.250%, 8/01/21 FGIC Insured
|
|
|
|
|
|
|
375
|
|
Roseville Joint Union High School District, Placer County, California, General Obligation
|
|
8/15 at 100.00
|
|
AA
|
|
380,944
|
|
|
Bonds, Series 2006B, 5.000%, 8/01/27 FGIC Insured
|
|
|
|
|
|
|
3,250
|
|
San Diego Unified School District, San Diego County, California, General Obligation Bonds,
|
|
7/11 at 102.00
|
|
AAA
|
|
3,522,708
|
|
|
Election of 1998, Series 2001C, 5.000%, 7/01/22 FSA Insured
|
|
|
|
|
|
|
3,500
|
|
San Mateo County Community College District, California, General Obligation Bonds, Series
|
|
9/12 at 100.00
|
|
Aa1
|
|
3,551,135
|
|
|
2002A, 5.000%, 9/01/26 FGIC Insured
|
|
|
|
|
|
|
10,000
|
|
Vista Unified School District, San Diego County, California, General Obligation Bonds, Series
|
|
8/12 at 100.00
|
|
AAA
|
|
10,284,997
|
|
|
2002A, 5.000%, 8/01/23 FSA Insured
|
|
|
|
|
|
|
3,905
|
|
West Kern Community College District, California, General Obligation Bonds, Election 2004,
|
|
11/17 at 100.00
|
|
A+
|
|
3,774,261
|
|
|
Series 2007C, 5.000%, 10/01/32 SYNCORA GTY Insured
|
|
|
|
|
|
|
|
59,435
|
|
Total Tax Obligation/General
|
|
|
|
|
|
59,223,240
|
|
|
|
Tax Obligation/Limited 48.8% (32.1% of Total Investments)
|
|
|
|
|
|
|
1,450
|
|
Baldwin Park Public Financing Authority, California, Sales Tax and Tax Allocation Bonds,
|
|
8/13 at 102.00
|
|
BBB
|
|
1,419,405
|
|
|
Puente Merced Redevelopment Project, Series 2003, 5.250%, 8/01/21
|
|
|
|
|
|
|
6,895
|
|
Brea and Olinda Unified School District, Orange County, California, Certificates of
|
|
8/11 at 101.00
|
|
AAA
|
|
6,955,676
|
|
|
Participation Refunding, Series 2002A, 5.125%, 8/01/26 FSA Insured
|
|
|
|
|
|
|
2,200
|
|
California Infrastructure Economic Development Bank, Los Angeles County, Revenue Bonds,
|
|
9/13 at 101.00
|
|
A
|
|
2,167,748
|
|
|
Department of Public Social Services, Series 2003, 5.000%, 9/01/28 AMBAC Insured
|
|
|
|
|
|
|
3,100
|
|
California State Public Works Board, Lease Revenue Bonds, Department of Health Services,
|
|
11/15 at 100.00
|
|
A
|
|
2,780,390
|
|
|
Richmond Lab, Series 2005B, 5.000%, 11/01/30 SYNCORA GTY Insured
|
|
|
|
|
|
|
465
|
|
Capistrano Unified School District, Orange County, California, Special Tax Bonds, Community
|
|
9/15 at 100.00
|
|
AA
|
|
434,780
|
|
|
Facilities District, Series 2005, 5.000%, 9/01/24 FGIC Insured
|
|
|
|
|
|
|
1,400
|
|
Chino Redevelopment Agency, California, Merged Chino Redevelopment Project Area Tax Allocation
|
|
9/16 at 101.00
|
|
A
|
|
1,142,106
|
|
|
Bonds, Series 2006, 5.000%, 9/01/38 AMBAC Insured
|
|
|
|
|
|
|
7,035
|
|
Corona-Norco Unified School District, Riverside County, California, Special Tax Bonds,
|
|
9/13 at 100.00
|
|
AA
|
|
7,082,697
|
|
|
Community Facilities District 98-1, Series 2003, 5.000%, 9/01/28 MBIA Insured
|
|
|
|
|
|
|
3,145
|
|
Culver City Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment
|
|
5/11 at 101.00
|
|
AA
|
|
2,656,015
|
|
|
Project, Series 2002A, 5.125%, 11/01/25 MBIA Insured
|
|
|
|
|
|
|
8,720
|
|
El Monte, California, Senior Lien Certificates of Participation, Department of Public Services
|
|
1/11 at 100.00
|
|
A
|
|
8,759,240
|
|
|
Facility Phase II, Series 2001, 5.000%, 1/01/21 AMBAC Insured
|
|
|
|
|
|
|
4,000
|
|
Folsom Public Financing Authority, California, Special Tax Revenue Bonds, Series 2004A,
|
|
9/12 at 102.00
|
|
A
|
|
3,861,040
|
|
|
5.000%, 9/01/21 AMBAC Insured
|
|
|
|
|
|
|
5,815
|
|
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement
|
|
6/15 at 100.00
|
|
AAA
|
|
4,983,846
|
|
|
Revenue Bonds, Drivers Trust 2091, 12.225%, 6/01/45 AGC Insured (IF)
|
|
|
|
|
|
|
8,780
|
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
|
|
6/15 at 100.00
|
|
A
|
|
7,269,225
|
|
|
Revenue Bonds, Series 2005A, 5.000%, 6/01/45 AMBAC Insured
|
|
|
|
|
|
|
1,300
|
|
Hesperia Public Financing Authority, California, Redevelopment and Housing Projects Tax
|
|
9/17 at 100.00
|
|
Baa1
|
|
939,471
|
|
|
Allocation Bonds, Series 2007A, 5.000%, 9/01/37 SYNCORA GTY Insured
|
|
|
|
|
|
|
2,115
|
|
Inglewood Redevelopment Agency, California, Tax Allocation Refunding Bonds, Merged Area
|
|
No Opt. Call
|
|
A
|
|
2,128,430
|
|
|
Redevelopment Project, Series 1998A, 5.250%, 5/01/23 AMBAC Insured
|
|
|
|
|
|
|
3,500
|
|
La Quinta Redevelopment Agency, California, Tax Allocation Bonds, Redevelopment Project
|
|
9/11 at 102.00
|
|
A+
|
|
3,155,215
|
|
|
Area 1, Series 2001, 5.100%, 9/01/31 AMBAC Insured
|
|
|
|
|
|
|
3,400
|
|
La Quinta Redevelopment Agency, California, Tax Allocation Bonds, Redevelopment Project
|
|
9/12 at 102.00
|
|
A
|
|
3,305,684
|
|
|
Area 1, Series 2002, 5.000%, 9/01/22 AMBAC Insured
|
|
|
|
|
|
|
845
|
|
Los Angeles Community Redevelopment Agency, California, Lease Revenue Bonds, Manchester Social
|
|
9/15 at 100.00
|
|
A2
|
|
760,179
|
|
|
Services Project, Series 2005, 5.000%, 9/01/37 AMBAC Insured
|
|
|
|
|
|
|
1,640
|
|
Los Angeles County Metropolitan Transportation Authority, California, Proposition C Second
|
|
7/09 at 100.00
|
|
AA+
|
|
1,643,018
|
|
|
Senior Lien Sales Tax Revenue Refunding Bonds, Series 1998A, 5.000%, 7/01/23 AMBAC Insured
|
|
|
|
|
|
|
1,460
|
|
Los Angeles, California, Certificates of Participation, Municipal Improvement Corporation,
|
|
6/13 at 100.00
|
|
AA
|
|
1,441,911
|
|
|
Series 2003AW, 5.000%, 6/01/33 AMBAC Insured
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,000
|
|
Los Angeles, California, Certificates of Participation, Series 2002, 5.200%, 4/01/27
|
|
4/12 at 100.00
|
|
AA
|
|
7,076,370
|
|
|
AMBAC Insured
|
|
|
|
|
|
|
8,470
|
|
Ontario Redevelopment Financing Authority, California, Lease Revenue Bonds, Capital Projects,
|
|
8/11 at 101.00
|
|
A
|
|
8,503,965
|
|
|
Series 2001, 5.200%, 8/01/29 AMBAC Insured
|
|
|
|
|
|
|
5,000
|
|
Palm Desert Financing Authority, California, Tax Allocation Revenue Refunding Bonds, Project
|
|
4/12 at 102.00
|
|
AA
|
|
4,637,700
|
|
|
Area 1, Series 2002, 5.000%, 4/01/25 MBIA Insured
|
|
|
|
|
|
|
3,000
|
|
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N, 5.250%,
|
|
No Opt. Call
|
|
BBB
|
|
2,570,010
|
|
|
7/01/39 FGIC Insured
|
|
|
|
|
|
|
405
|
|
Rialto Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series
|
|
9/15 at 100.00
|
|
A
|
|
348,422
|
|
|
2005A, 5.000%, 9/01/35 SYNCORA GTY Insured
|
|
|
|
|
|
|
4,475
|
|
Riverside County, California, Asset Leasing Corporate Leasehold Revenue Bonds, Riverside
|
|
6/12 at 101.00
|
|
AA
|
|
4,275,057
|
|
|
County Hospital Project, Series 1997B, 5.000%, 6/01/19 MBIA Insured
|
|
|
|
|
|
|
505
|
|
Roseville, California, Certificates of Participation, Public Facilities, Series 2003A, 5.000%,
|
|
8/13 at 100.00
|
|
AA
|
|
465,423
|
|
|
8/01/25 AMBAC Insured
|
|
|
|
|
|
|
3,175
|
|
San Buenaventura, California, Certificates of Participation, Series 2001C, 5.250%, 2/01/31
|
|
2/11 at 101.00
|
|
A
|
|
2,924,143
|
|
|
AMBAC Insured
|
|
|
|
|
|
|
3,730
|
|
San Diego Redevelopment Agency, California, Subordinate Lien Tax Increment and Parking Revenue
|
|
9/09 at 101.00
|
|
Baa2
|
|
3,299,633
|
|
|
Bonds, Centre City Project, Series 2003B, 5.250%, 9/01/26
|
|
|
|
|
|
|
4,000
|
|
San Jose Financing Authority, California, Lease Revenue Refunding Bonds, Convention Center
|
|
9/11 at 100.00
|
|
AA+
|
|
4,138,680
|
|
|
Project, Series 2001F, 5.000%, 9/01/19 MBIA Insured
|
|
|
|
|
|
|
1,000
|
|
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series
|
|
8/15 at 100.00
|
|
AA
|
|
862,380
|
|
|
2005A, 5.000%, 8/01/28 MBIA Insured
|
|
|
|
|
|
|
2,160
|
|
Temecula Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment
|
|
8/09 at 101.00
|
|
AA
|
|
2,034,374
|
|
|
Project 1, Series 2002, 5.125%, 8/01/27 MBIA Insured
|
|
|
|
|
|
|
|
110,185
|
|
Total Tax Obligation/Limited
|
|
|
|
|
|
104,022,233
|
|
|
|
Transportation 5.0% (3.3% of Total Investments)
|
|
|
|
|
|
|
7,500
|
|
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Refunding
|
|
1/14 at 101.00
|
|
BBB
|
|
6,149,700
|
|
|
Bonds, Series 1999, 0.000%, 1/15/29
|
|
|
|
|
|
|
|
|
San Francisco Airports Commission, California, Revenue Bonds, San Francisco International
|
|
|
|
|
|
|
|
|
Airport, Second Series 2003, Issue 29A:
|
|
|
|
|
|
|
2,185
|
|
5.250%, 5/01/16 FGIC Insured (Alternative Minimum Tax)
|
|
5/13 at 100.00
|
|
AA
|
|
2,188,955
|
2,300
|
|
5.250%, 5/01/17 FGIC Insured (Alternative Minimum Tax)
|
|
5/13 at 100.00
|
|
AA
|
|
2,293,560
|
|
11,985
|
|
Total Transportation
|
|
|
|
|
|
10,632,215
|
|
|
|
U.S. Guaranteed 22.2% (14.6% of Total Investments) (4)
|
|
|
|
|
|
|
6,000
|
|
California Department of Water Resources, Power Supply Revenue Bonds, Series 2002A, 5.125%,
|
|
5/12 at 101.00
|
|
Aaa
|
|
6,709,080
|
|
|
5/01/18 (Pre-refunded 5/01/12)
|
|
|
|
|
|
|
35
|
|
California Department of Water Resources, Water System Revenue Bonds, Central Valley Project,
|
|
12/12 at 100.00
|
|
AAA
|
|
39,545
|
|
|
Series 2002X, 5.150%, 12/01/23 (Pre-refunded 12/01/12) FGIC Insured
|
|
|
|
|
|
|
2,250
|
|
California Infrastructure Economic Development Bank, First Lien Revenue Bonds, San Francisco
|
|
1/28 at 100.00
|
|
AAA
|
|
2,560,545
|
|
|
Bay Area Toll Bridge, Series 2003A, 5.000%, 7/01/36 (Pre-refunded 1/01/28) AMBAC Insured
|
|
|
|
|
|
|
9,000
|
|
Eastern Municipal Water District, California, Water and Sewerage System Revenue Certificates
|
|
7/11 at 100.00
|
|
AA (4)
|
|
9,756,900
|
|
|
of Participation, Series 2001B, 5.000%, 7/01/30 (Pre-refunded 7/01/11) FGIC Insured
|
|
|
|
|
|
|
|
|
Fresno Unified School District, Fresno County, California, General Obligation Bonds,
|
|
|
|
|
|
|
|
|
Series 2002B:
|
|
|
|
|
|
|
1,135
|
|
5.125%, 8/01/23 FGIC Insured (ETM)
|
|
8/10 at 102.00
|
|
A+ (4)
|
|
1,204,246
|
1,190
|
|
5.125%, 8/01/24 FGIC Insured (ETM)
|
|
8/10 at 102.00
|
|
A+ (4)
|
|
1,262,602
|
1,245
|
|
5.125%, 8/01/25 FGIC Insured (ETM)
|
|
8/10 at 102.00
|
|
A+ (4)
|
|
1,320,957
|
1,255
|
|
5.125%, 8/01/26 FGIC Insured (ETM)
|
|
8/10 at 102.00
|
|
A+ (4)
|
|
1,331,480
|
2,070
|
|
Fresno Unified School District, Fresno County, California, General Obligation Bonds, Series
|
|
8/10 at 102.00
|
|
AAA
|
|
2,198,816
|
|
|
2002G, 5.125%, 8/01/26 FSA Insured (ETM)
|
|
|
|
|
|
|
4,500
|
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
|
|
6/13 at 100.00
|
|
AAA
|
|
5,458,275
|
|
|
Revenue Bonds, Series 2003A-2, 7.900%, 6/01/42 (Pre-refunded 6/01/13)
|
|
|
|
|
|
|
5,000
|
|
Los Angeles Unified School District, California, General Obligation Bonds, Series 2002E,
|
|
7/12 at 100.00
|
|
AA (4)
|
|
5,573,100
|
|
|
5.125%, 1/01/27 (Pre-refunded 7/01/12) MBIA Insured
|
|
|
|
|
|
|
3,380
|
|
Rancho Mirage Joint Powers Financing Authority, California, Revenue Bonds, Eisenhower Medical
|
|
7/14 at 100.00
|
|
A3 (4)
|
|
4,024,194
|
|
|
Center, Series 2004, 5.875%, 7/01/26 (Pre-refunded 7/01/14)
|
|
|
|
|
|
|
2,980
|
|
Santa Clarita Community College District, Los Angeles County, California, General Obligation
|
|
8/11 at 101.00
|
|
AA (4)
|
|
3,277,046
|
|
|
Bonds, Series 2002, 5.125%, 8/01/26 (Pre-refunded 8/01/11) FGIC Insured
|
|
|
|
|
|
|
2,460
|
|
Vacaville Unified School District, Solano County, California, General Obligation Bonds, Series
|
|
8/11 at 101.00
|
|
AAA
|
|
2,698,595
|
|
|
2002, 5.000%, 8/01/26 (Pre-refunded 8/01/11) FSA Insured
|
|
|
|
|
|
|
|
42,500
|
|
Total U.S. Guaranteed
|
|
|
|
|
|
47,415,381
|
|
|
|
|
|
|
|
|
|
|
|
|
Utilities 15.1% (9.9% of Total Investments)
|
|
|
|
|
|
|
9,000
|
|
Anaheim Public Finance Authority, California, Revenue Bonds, Electric System Distribution
|
|
10/12 at 100.00
|
|
AAA
|
|
9,059,850
|
|
|
Facilities, Series 2002A, 5.000%, 10/01/27 FSA Insured
|
|
|
|
|
|
|
10,000
|
|
California Pollution Control Financing Authority, Remarketed Revenue Bonds, Pacific Gas and
|
|
4/11 at 102.00
|
|
AA
|
|
9,964,000
|
|
|
Electric Company, Series 1996A, 5.350%, 12/01/16 MBIA Insured (Alternative Minimum Tax)
|
|
|
|
|
|
|
2,490
|
|
Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series
|
|
No Opt. Call
|
|
A
|
|
1,991,950
|
|
|
2007A, 5.000%, 11/15/35
|
|
|
|
|
|
|
830
|
|
Merced Irrigation District, California, Electric System Revenue Bonds, Series 2005, 5.125%,
|
|
9/15 at 100.00
|
|
BBB
|
|
665,170
|
|
|
9/01/31 SYNCORA GTY Insured
|
|
|
|
|
|
|
1,775
|
|
Northern California Power Agency, Revenue Refunding Bonds, Hydroelectric Project 1, Series
|
|
7/10 at 100.00
|
|
A2
|
|
1,723,827
|
|
|
1998A, 5.200%, 7/01/32 MBIA Insured
|
|
|
|
|
|
|
3,000
|
|
Sacramento Municipal Utility District, California, Electric Revenue Bonds, Series 2001N,
|
|
8/11 at 100.00
|
|
AA
|
|
2,981,460
|
|
|
5.000%, 8/15/28 MBIA Insured
|
|
|
|
|
|
|
5,630
|
|
Southern California Public Power Authority, Subordinate Revenue Refunding Bonds, Transmission
|
|
7/12 at 100.00
|
|
AAA
|
|
5,780,997
|
|
|
Project, Series 2002A, 4.750%, 7/01/19 FSA Insured
|
|
|
|
|
|
|
|
32,725
|
|
Total Utilities
|
|
|
|
|
|
32,167,254
|
|
|
|
Water and Sewer 14.7% (9.7% of Total Investments)
|
|
|
|
|
|
|
2,965
|
|
California Department of Water Resources, Water System Revenue Bonds, Central Valley Project,
|
|
12/12 at 100.00
|
|
AAA
|
|
3,093,444
|
|
|
Series 2002X, 5.150%, 12/01/23 FGIC Insured
|
|
|
|
|
|
|
750
|
|
Fortuna Public Finance Authority, California, Water Revenue Bonds, Series 2006, 5.000%,
|
|
10/16 at 100.00
|
|
AAA
|
|
721,838
|
|
|
10/01/36 FSA Insured
|
|
|
|
|
|
|
570
|
|
Healdsburg Public Financing Authority, California, Wastewater Revenue Bonds, Series 2006,
|
|
4/16 at 100.00
|
|
AA
|
|
531,730
|
|
|
5.000%, 4/01/36 MBIA Insured
|
|
|
|
|
|
|
4,500
|
|
Los Angeles County Sanitation Districts Financing Authority, California, Senior Revenue Bonds,
|
|
10/13 at 100.00
|
|
AAA
|
|
4,639,410
|
|
|
Capital Projects, Series 2003A, 5.000%, 10/01/23 FSA Insured
|
|
|
|
|
|
|
2,085
|
|
Manteca Financing Authority, California, Sewerage Revenue Bonds, Series 2003B, 5.000%,
|
|
12/13 at 100.00
|
|
A2
|
|
2,088,565
|
|
|
12/01/33 MBIA Insured
|
|
|
|
|
|
|
500
|
|
Marina Coast Water District, California, Enterprise Certificate of Participation, Series 2006,
|
|
6/16 at 100.00
|
|
AA
|
|
467,110
|
|
|
5.000%, 6/01/31 MBIA Insured
|
|
|
|
|
|
|
9,185
|
|
Orange County Sanitation District, California, Certificates of Participation, Series 2003,
|
|
8/13 at 100.00
|
|
AAA
|
|
9,201,533
|
|
|
5.000%, 2/01/33 FGIC Insured (UB)
|
|
|
|
|
|
|
8,000
|
|
San Diego County Water Authority, California, Water Revenue Certificates of Participation,
|
|
5/18 at 100.00
|
|
AAA
|
|
7,808,480
|
|
|
Series 2008A, 5.000%, 5/01/38 FSA Insured
|
|
|
|
|
|
|
|
|
Semitropic Water Storage District, Kern County, California, Water Banking Revenue Bonds,
|
|
|
|
|
|
|
|
|
Series 2004A:
|
|
|
|
|
|
|
1,315
|
|
5.500%, 12/01/20 SYNCORA GTY Insured
|
|
12/14 at 100.00
|
|
A
|
|
1,390,113
|
1,415
|
|
5.500%, 12/01/21 SYNCORA GTY Insured
|
|
12/14 at 100.00
|
|
A
|
|
1,487,335
|
|
31,285
|
|
Total Water and Sewer
|
|
|
|
|
|
31,429,558
|
|
$ 336,283
|
|
Total Investments (cost $327,934,819) 152.1%
|
|
|
|
|
|
324,275,307
|
|
|
|
|
|
Floating Rate Obligations (3.6)%
|
|
|
|
|
|
(7,635,000)
|
|
|
|
|
|
Other Assets Less Liabilities 2.3%
|
|
|
|
|
|
4,772,838
|
|
|
|
|
|
Auction Rate Preferred Shares, at Liquidation Value (50.8)% (5)
|
|
|
|
|
|
(108,250,000)
|
|
|
|
|
|
Net Assets Applicable to Common Shares 100%
|
|
|
|
|
$
|
213,163,145
|
|
|
|