United States
Securities and Exchange Commission
Washington, D.C. 20549
Form N-CSR
Certified Shareholder Report of Registered Management Investment Companies
811-3181
(Investment Company Act File Number)
Federated Short-Intermediate Duration Municipal Trust
______________________________________________________________
(Exact Name of Registrant as Specified in Charter)
Federated Investors Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
(Address of Principal Executive Offices)
(412) 288-1900
(Registrant's Telephone Number)
John W. McGonigle, Esquire
Federated Investors Tower
1001 Liberty Avenue
Pittsburgh, Pennsylvania 15222-3779
(Name and Address of Agent for Service)
(Notices should be sent to the Agent for Service)
Date of Fiscal Year End: 6/30/14
Date of Reporting Period: Six months ended 12/31/13
Item 1. Reports to Stockholders
![](https://capedge.com/proxy/N-CSRS/0001318148-14-000328/fedregcovsmall.gif)
Share Class | Ticker |
A | FMTAX |
Institutional | FSHIX |
Service | FSHSX |
![](https://capedge.com/proxy/N-CSRS/0001318148-14-000328/fisherjohnsigsmall.jpg)
Sector Composition | Percentage of Total Net Assets |
General Obligation—State | 15.8% |
Hospital | 15.2% |
Transportation | 13.5% |
General Obligation—Local | 13.0% |
Industrial Development/Pollution Control | 9.2% |
Electric and Gas | 7.6% |
Public Power | 7.6% |
Special Tax | 5.8% |
Water & Sewer | 4.8% |
Tobacco | 2.2% |
Other2 | 5.6% |
Other Assets and Liabilities—Net3 | (0.3)% |
TOTAL | 100.0% |
1 | Sector classifications, and the assignment of holdings to such sectors, are based upon the economic sector and/or revenue source of the underlying obligor, as determined by the Fund's Adviser. For securities that have been enhanced by a third-party, including bond insurers and banks, sector classifications are based upon the economic sector and/or revenue source of the underlying obligor, as determined by the Fund's Adviser. |
2 | For purposes of this table, sector classifications constitute 94.7% of the Fund's total net assets. Remaining sectors have been aggregated under the designation “Other.” |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
MUNICIPAL BONDS—95.5% | |||
Alabama—2.1% | |||
$3,920,000 | Alabama State Public School & College Authority, Capital Improvement Refunding Bonds (Series 2009A), 5.00% (United States Treasury COL), 5/1/2014 | $3,983,308 | |
8,000,000 | Mobile, AL IDB, PCRBs (Series 2007C), 5.00% TOBs (Alabama Power Co.), Mandatory Tender 3/19/2015 | 8,399,360 | |
1,170,000 | Montgomery, AL Medical Clinic Board, Health Care Facility Revenue Bonds (Series 2006), 4.50% (Jackson Hospital & Clinic, Inc.), 3/1/2014 | 1,177,184 | |
925,000 | Saraland, AL, GO Warrants, 4.00%, 1/1/2014 | 925,000 | |
960,000 | Saraland, AL, GO Warrants, 4.50%, 1/1/2015 | 998,649 | |
2,355,000 | Tuscaloosa, AL, GO Warrants (Series 2010-B), 5.00%, 2/15/2014 | 2,368,753 | |
2,470,000 | Tuscaloosa, AL, GO Warrants (Series 2010-B), 5.00%, 2/15/2015 | 2,599,453 | |
2,600,000 | Tuscaloosa, AL, GO Warrants (Series 2010-B), 5.00%, 2/15/2016 | 2,845,232 | |
TOTAL | 23,296,939 | ||
Alaska—0.2% | |||
2,000,000 | Valdez, AK Marine Terminal, Revenue Refunding Bonds (Series 2003A), 5.00% (BP PLC), 1/1/2021 | 2,267,060 | |
Arizona—1.6% | |||
3,000,000 | 1 | Arizona Health Facilities Authority, Variable Rate Revenue Refunding Bonds (Series 2013A-1), 1.91% TOBs (Phoenix Children's Hospital) 2/5/2020 | 2,947,350 |
3,500,000 | Arizona State, COPs (Series 2010A), 5.00% (Assured Guaranty Corp. INS), 10/1/2015 | 3,757,425 | |
1,750,000 | Arizona Transportation Board—Highway Revenue, Subordinated Highway Revenue Bonds (Series 2013A), 5.00%, 7/1/2021 | 2,047,605 | |
3,000,000 | Maricopa County, AZ Pollution Control Corp., PCR Revenue Refunding Bonds (Series 2010A), 4.00% TOBs (Public Service Co., NM), Mandatory Tender 6/1/2015 | 3,100,920 | |
3,125,000 | Navajo County, AZ Pollution Control Corp., PCR Refunding Bonds (Series 2009A), 1.25% TOBs (Arizona Public Service Co.), Mandatory Tender 5/30/2014 | 3,131,937 | |
1,000,000 | Pima County, AZ Sewer System, Revenue Bonds (Series 2011B), 4.00%, 7/1/2014 | 1,018,930 | |
1,250,000 | Pima County, AZ Sewer System, Revenue Bonds (Series 2011B), 5.00%, 7/1/2015 | 1,336,888 | |
TOTAL | 17,341,055 | ||
Arkansas—0.7% | |||
500,000 | Beaver Water District of Benton and Washington Counties, AR, Revenue Refunding Bonds (Series 2010), 3.00%, 11/15/2017 | 535,620 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
Arkansas—continued | |||
$7,250,000 | Independence County, AR, PCR Refunding Bonds (Series 2013), 2.38% (Entergy Arkansas, Inc.), 1/1/2021 | $6,940,280 | |
TOTAL | 7,475,900 | ||
California—12.3% | |||
1,000,000 | Alameda Corridor Transportation Authority, CA, Tax-Exempt Senior Lien Revenue Refunding Bonds (Series 2013A), 5.00%, 10/1/2019 | 1,161,540 | |
5,000,000 | 1 | Bay Area Toll Authority, CA, San Francisco Bay Area Toll Bridge Revenue Bonds (SIFMA Index Rate Bonds Series 2007B-1), 1.16% TOBs 4/1/2024 | 5,025,000 |
10,000,000 | 1 | Bay Area Toll Authority, CA, San Francisco Bay Area Toll Bridge Revenue Bonds (SIFMA Index Rate Bonds Series 2007G-1), 1.16% TOBs 4/1/2024 | 10,050,000 |
500,000 | California Health Facilities Financing Authority, 5.00% (Adventist Health System/West), 3/1/2014 | 503,925 | |
13,000,000 | California Health Facilities Financing Authority, Revenue Bonds (Series 2013B), 5.00% TOBs (St. Joseph Health System), Mandatory Tender 10/15/2019 | 15,052,570 | |
4,000,000 | California Health Facilities Financing Authority, Variable Rate Health Facility Revenue Bonds (Series 2009G), 5.00% TOBs (Dignity Health (Catholic Healthcare West)), Mandatory Tender 7/1/2014 | 4,095,080 | |
15,000,000 | California Municipal Finance Authority, Revenue Bonds , 0.60% TOBs (Republic Services, Inc.), Mandatory Tender 1/2/2014 | 15,000,000 | |
2,000,000 | California Municipal Finance Authority, Solid Waste Disposal Revenue Bonds (Series 2004), 3.00% (Waste Management, Inc.), 9/1/2014 | 2,030,940 | |
5,000,000 | California PCFA, Solid Waste Disposal Revenue Refunding Bonds (Series 1998B), 3.63% (Waste Management, Inc.), 6/1/2018 | 5,060,350 | |
3,500,000 | California PCFA, Solid Waste Revenue Refunding Bonds (Series 2010B), 0.45% TOBs (Republic Services, Inc.), Mandatory Tender 2/3/2014 | 3,500,000 | |
5,000,000 | California State Department of Water Resources Power Supply Program, Revenue Bonds (Series 2010L), 5.00%, 5/1/2014 | 5,080,950 | |
5,000,000 | California State Department of Water Resources Power Supply Program, Revenue Bonds (Series 2010L), 5.00%, 5/1/2015 | 5,318,950 | |
1,440,000 | California State Public Works Board, Lease Revenue Bonds (Series 2012H), 5.00%, 4/1/2019 | 1,663,214 | |
4,375,000 | California State, Refunding Economic Recovery Bonds (Series 2009B), 5.00% TOBs (California State Fiscal Recovery Fund), Mandatory Tender 7/1/2014 | 4,478,775 | |
9,250,000 | 1 | California State, UT GO Bonds (Index Floating Rate Bonds Series 2013E), 0.95% TOBs 12/1/2018 | 9,255,365 |
3,335,000 | California State, UT GO Bonds, 4.00% TOBs 12/1/2017 | 3,646,622 | |
4,000,000 | 1 | California State, UT GO Refunding Bonds (Series 2012B), 1.06%, 5/1/2019 | 4,051,720 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
California—continued | |||
$3,000,000 | 1 | California State, UT GO Refunding Bonds (Series 2012B), 1.21%, 5/1/2020 | $3,050,400 |
5,000,000 | California State, Various Purpose UT GO Bonds (Series 2013), 5.00%, 10/1/2019 | 5,853,600 | |
3,000,000 | California State, Various Purpose UT GO Bonds, 5.00%, 10/1/2015 | 3,247,530 | |
2,500,000 | California Statewide CDA, Revenue Bonds (Series 2009E-1), 5.00% TOBs (Kaiser Permanente), Mandatory Tender 5/1/2017 | 2,828,525 | |
2,500,000 | Foothill/Eastern Transportation Corridor Agency, CA, Toll Road Revenue Refunding Bonds (Series 2013B-2), 5.00% TOBs 1/15/2020 | 2,639,350 | |
4,195,000 | Los Angeles, CA USDT , Refunding COPs (Series 2010A), 5.00%, 12/1/2015 | 4,548,429 | |
1,050,000 | Orange County, CA Transportation Authority, Senior Lien Toll Road Revenue Refunding Bonds (Series 2013), 5.00% (91 Express Lanes-OCTA), 8/15/2019 | 1,219,764 | |
2,750,000 | San Diego County, CA Water Authority, Subordinate Lien Water Revenue Refunding Bonds (Series 2011S-1), 5.00%, 7/1/2016 | 3,051,098 | |
2,815,000 | San Francisco, CA Public Utilities Commission (Water Enterprise), Water Revenue Bonds (Series 2010DE), 5.00% (United States Treasury COL), 11/1/2017 | 3,264,218 | |
8,670,000 | San Francisco, CA Public Utilities Commission (Water Enterprise), Water Revenue Bonds (Series 2010DE), 5.00%, 11/1/2017 | 10,047,576 | |
1,750,000 | Val Verde, CA USDT , GO BAN's (Series 2013), 3.00%, 8/1/2018 | 1,812,563 | |
TOTAL | 136,538,054 | ||
Colorado—1.4% | |||
1,795,000 | Adonea, CO Metropolitan District No. 2, Revenue Bonds (Series 2005B), 4.38% (Compass Bank, Birmingham LOC)/(Original Issue Yield: 4.50%), 12/1/2015 | 1,819,663 | |
2,900,000 | Colorado Health Facilities Authority, Revenue Bonds (Series 2009B), 5.00% TOBs (Catholic Health Initiatives), Mandatory Tender 11/11/2014 | 3,014,463 | |
2,115,000 | Colorado Health Facilities Authority, Revenue Refunding Bonds (Series 2012C), 4.00% (Covenant Retirement Communities, Inc.), 12/1/2015 | 2,199,262 | |
1,795,000 | Colorado Health Facilities Authority, Revenue Refunding Bonds (Series 2012C), 4.00% (Covenant Retirement Communities, Inc.), 12/1/2016 | 1,893,402 | |
1,710,000 | 1 | E-470 Public Highway Authority, CO, Senior Revenue Bonds (SIFMA Index Series 2007CD-2), 1.81% TOBs (National Public Finance Guarantee Corporation INS), Mandatory Tender 8/31/2017 | 1,718,738 |
4,570,000 | 1 | E-470 Public Highway Authority, CO, Senior Revenue Bonds (SIFMA Index Term Rate Bonds)(Series 2011A), 2.78% TOBs, Mandatory Tender 9/1/2014 | 4,579,505 |
TOTAL | 15,225,033 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
Connecticut—3.2% | |||
$2,750,000 | Bridgeport, CT, UT GO Refunding Bonds (Series 2012B), 4.00%, 8/15/2014 | $2,804,752 | |
1,010,000 | Bridgeport, CT, UT GO Refunding Bonds (Series 2012B), 4.00%, 8/15/2015 | 1,058,844 | |
3,185,000 | Bridgeport, CT, UT GO Refunding Bonds (Series 2012B), 5.00%, 8/15/2016 | 3,493,244 | |
2,580,000 | Bridgeport, CT, UT GO Refunding Bonds (Series 2012B), 5.00%, 8/15/2017 | 2,890,658 | |
500,000 | Connecticut Development Authority, (Series 1999), 0.32% CP (New England Power Co.), Mandatory Tender 1/16/2014 | 500,000 | |
10,000,000 | 1 | Connecticut State, UT GO SIFMA Index Bonds (Series 2012A), 1.31%, 4/15/2020 | 10,216,100 |
2,000,000 | 1 | Connecticut State, UT GO SIFMA Index Bonds (Series 2012D), 0.98%, 9/15/2019 | 2,002,760 |
1,500,000 | 1 | Connecticut State, UT GO SIFMA INDEX Bonds (Series 2013A), 0.96%, 3/1/2023 | 1,488,720 |
2,255,000 | 1 | Connecticut State, UT GO SIFMA INDEX Bonds (Series 2013A), 1.01%, 3/1/2024 | 2,229,609 |
4,000,000 | 1 | Connecticut State, UT GO SIFMA INDEX Bonds (Series 2013A), 1.05%, 3/1/2025 | 3,951,240 |
2,100,000 | West Haven, CT, UT GO Bonds, 4.00% (Assured Guaranty Municipal Corp. INS), 8/1/2018 | 2,253,132 | |
2,000,000 | West Haven, CT, UT GO Bonds, 4.00% (Assured Guaranty Municipal Corp. INS), 8/1/2019 | 2,123,700 | |
TOTAL | 35,012,759 | ||
District of Columbia—0.2% | |||
2,000,000 | District of Columbia Revenue, University Revenue Refunding Bonds (Series 2009A), 5.00% (Georgetown University), 4/1/2015 | 2,111,360 | |
Florida—5.7% | |||
8,000,000 | Citizens Property Insurance Corp. FL, Senior Secured Bonds (Series 2012A-1), 5.00%, 6/1/2015 | 8,497,120 | |
7,245,000 | Florida State Board of Education, UT GO Capital Outlay Refunding Bonds (Series 2010A), 5.00% (Florida State), 6/1/2017 | 8,273,790 | |
500,000 | Florida State Municipal Power Agency, Stanton II Project Revenue Bonds (Series 2012A), 4.00%, 10/1/2015 | 530,040 | |
630,000 | Florida State Municipal Power Agency, Stanton II Project Revenue Bonds (Series 2012A), 4.00%, 10/1/2017 | 693,258 | |
800,000 | Florida State Municipal Power Agency, Stanton II Project Revenue Bonds (Series 2012A), 5.00%, 10/1/2016 | 889,576 | |
2,000,000 | Halifax Hospital Medical Center, FL, Hospital Revenue Refunding & Improvement Bonds (Series 2006A), 5.25%, 6/1/2015 | 2,111,040 | |
475,000 | Hillsborough County, FL IDA, Hospital Revenue Refunding Bonds (Series 2012A), 3.00% (Tampa General Hospital), 10/1/2014 | 484,419 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
Florida—continued | |||
$375,000 | Hillsborough County, FL IDA, Hospital Revenue Refunding Bonds (Series 2012A), 4.00% (Tampa General Hospital), 10/1/2015 | $397,766 | |
600,000 | Hillsborough County, FL IDA, Hospital Revenue Refunding Bonds (Series 2012A), 5.00% (Tampa General Hospital), 10/1/2018 | 684,216 | |
630,000 | Hillsborough County, FL IDA, Hospital Revenue Refunding Bonds (Series 2012A), 5.00% (Tampa General Hospital), 10/1/2019 | 719,460 | |
525,000 | Hillsborough County, FL IDA, Hospital Revenue Refunding Bonds (Series 2012A), 5.00% (Tampa General Hospital), 10/1/2020 | 591,953 | |
1,245,000 | Hillsborough County, FL IDA, Hospital Revenue Refunding Bonds (Series 2012A), 5.00% (Tampa General Hospital), 10/1/2021 | 1,385,710 | |
1,300,000 | Hillsborough County, FL IDA, Hospital Revenue Refunding Bonds (Series 2012A), 5.00% (Tampa General Hospital), 10/1/2022 | 1,427,309 | |
5,000,000 | 1 | Lakeland, FL Energy Systems, Variable Rate Energy System Refunding Bonds (Series 2009), 1.16%, 10/1/2014 | 5,017,100 |
600,000 | Miami Beach, FL Health Facilities Authority, Hospital Revenue Refunding Bonds (Series 2012), 3.00% (Mt. Sinai Medical Center, FL), 11/15/2014 | 610,356 | |
750,000 | Miami Beach, FL Health Facilities Authority, Hospital Revenue Refunding Bonds (Series 2012), 3.00% (Mt. Sinai Medical Center, FL), 11/15/2015 | 773,153 | |
1,435,000 | Miami Beach, FL Health Facilities Authority, Hospital Revenue Refunding Bonds (Series 2012), 3.00% (Mt. Sinai Medical Center, FL), 11/15/2016 | 1,495,485 | |
1,015,000 | Miami-Dade County, FL Expressway Authority, Toll System Revenue Refunding Bonds (Series 2013A), 5.00%, 7/1/2018 | 1,167,595 | |
750,000 | Miami-Dade County, FL Expressway Authority, Toll System Revenue Refunding Bonds (Series 2013A), 5.00%, 7/1/2020 | 860,655 | |
1,500,000 | Miami-Dade County, FL Expressway Authority, Toll System Revenue Refunding Bonds (Series 2013A), 5.00%, 7/1/2021 | 1,699,140 | |
7,800,000 | Miami-Dade County, FL School Board, COPs (Series 2011B), 5.00% TOBs, Mandatory Tender 5/1/2016 | 8,544,978 | |
610,000 | Miami-Dade County, FL Transit System, Transit System Sales Surtax Revenue Bonds (Series 2012), 5.00%, 7/1/2019 | 703,489 | |
500,000 | Miami-Dade County, FL Transit System, Transit System Sales Surtax Revenue Bonds (Series 2012), 5.00%, 7/1/2020 | 573,445 | |
1,250,000 | Miami-Dade County, FL Transit System, Transit System Sales Surtax Revenue Bonds (Series 2012), 5.00%, 7/1/2021 | 1,424,950 | |
1,750,000 | Orlando & Orange County Expressway Authority, FL, Revenue Refunding Bonds (Series 2012A), 5.00%, 7/1/2018 | 2,015,562 | |
1,500,000 | Orlando & Orange County Expressway Authority, FL, Revenue Refunding Bonds (Series 2012A), 5.00%, 7/1/2019 | 1,734,120 | |
1,350,000 | Orlando & Orange County Expressway Authority, FL, Revenue Refunding Bonds (Series 2012A), 5.00%, 7/1/2020 | 1,555,295 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
Florida—continued | |||
$1,500,000 | Orlando, FL Utilities Commission, Utility System Revenue Refunding Bonds (Series 2011B), 5.00%, 10/1/2018 | $1,755,165 | |
1,000,000 | Orlando, FL, Senior Tourist Development Tax Revenue Bonds (Series 2008A), 5.00% (6th Cent Contract Payments)/(Assured Guaranty Corp. INS), 11/1/2014 | 1,029,250 | |
5,000,000 | Tampa Bay, FL Water Utility System, Revenue Refunding Bonds (Series 2011B), 5.00%, 10/1/2018 | 5,845,500 | |
TOTAL | 63,490,895 | ||
Georgia—2.5% | |||
2,500,000 | Atlanta, GA Airport Passenger Facilities Charge Revenue, Subordinate Lien General Revenue Bonds (Series 2010B), 5.00%, 1/1/2018 | 2,871,000 | |
4,000,000 | Burke County, GA Development Authority, PCRBs (First Series 2012), 1.75% TOBs (Georgia Power Co.), Mandatory Tender 6/1/2017 | 4,025,360 | |
600,000 | DeKalb County, GA Water & Sewerage, Revenue Bonds (Series 2011A), 4.00%, 10/1/2014 | 617,028 | |
950,000 | DeKalb County, GA Water & Sewerage, Revenue Bonds (Series 2011A), 4.00%, 10/1/2015 | 1,009,831 | |
3,535,000 | Floyd County, GA Development Authority PCRBs, (First Series 2010), 0.85% TOBs (Georgia Power Co.), Mandatory Tender 11/19/2015 | 3,537,156 | |
3,000,000 | Fulton County, GA Water & Sewage System, Revenue Refunding Bonds (Series 2011), 5.00%, 1/1/2019 | 3,485,130 | |
7,000,000 | Monroe County, GA Development Authority, PCRBs (Series 2013A), 2.40% TOBs (Oglethorpe Power Corp.), Mandatory Tender 4/1/2020 | 6,680,170 | |
2,000,000 | Municipal Electric Authority of Georgia, Combined Cycle Project Revenue Bonds (Series 2012A), 5.00%, 11/1/2016 | 2,243,200 | |
1,000,000 | Municipal Electric Authority of Georgia, Combined Cycle Project Revenue Bonds (Series 2012A), 5.00%, 11/1/2018 | 1,159,490 | |
2,000,000 | Public Gas Partners, Inc., GA, Gas Project Revenue Bonds (Gas Supply Pool No. 1 Series 2009A), 5.00%, 10/1/2015 | 2,141,840 | |
TOTAL | 27,770,205 | ||
Hawaii—0.2% | |||
1,000,000 | Hawaii State Department of Budget & Finance, Special Purpose Senior Living Revenue Refunding Bonds (Series 2012), 4.50% (Kahala Nui), 11/15/2015 | 1,048,240 | |
1,000,000 | Hawaii State Department of Budget & Finance, Special Purpose Senior Living Revenue Refunding Bonds (Series 2012), 5.00% (Kahala Nui), 11/15/2017 | 1,095,760 | |
500,000 | Hawaii State Department of Budget & Finance, Special Purpose Senior Living Revenue Refunding Bonds (Series 2012), 5.00% (Kahala Nui), 11/15/2018 | 549,825 | |
TOTAL | 2,693,825 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
Illinois—6.2% | |||
$3,000,000 | 1 | Chicago, IL Board of Education, UT GO Refunding Bonds (Series 2013A-3 SIFMA Index), 0.81% TOBs 6/1/2017 | $2,976,660 |
4,000,000 | 1 | Chicago, IL Board of Education, UT GO Refunding Bonds (Series 2013A-3 SIFMA Index), 0.89% TOBs 6/1/2018 | 3,949,800 |
3,500,000 | Chicago, IL Midway Airport, Second Lien Revenue Bonds (Series 2010B), 5.00% TOBs, Mandatory Tender 1/1/2015 | 3,664,115 | |
3,250,000 | Chicago, IL Midway Airport, Second Lien Taxable Revenue Refunding Bonds (Series 2013C), 5.00%, 1/1/2021 | 3,681,763 | |
1,500,000 | Chicago, IL Midway Airport, Second Lien Taxable Revenue Refunding Bonds (Series 2013C), 5.00%, 1/1/2022 | 1,679,130 | |
1,875,000 | Chicago, IL O'Hare International Airport, General Airport Third Lien Revenue Bonds (Series 2011B), 5.00%, 1/1/2018 | 2,131,200 | |
2,000,000 | Chicago, IL Water Revenue, Second Lien Water Revenue Refunding Bonds (Series 2008), 5.00% (Assured Guaranty Municipal Corp. INS), 11/1/2015 | 2,148,980 | |
2,000,000 | Illinois Finance Authority, Gas Supply Revenue Refunding Bonds (Series 2010), 2.13% TOBs (Peoples Gas Light & Coke Co.), Mandatory Tender 7/1/2014 | 2,015,900 | |
6,500,000 | Illinois Finance Authority, Revenue Bonds (Series 2008A-2), 5.00% TOBs (Advocate Health Care Network), Mandatory Tender 2/12/2020 | 7,306,910 | |
2,500,000 | Illinois Finance Authority, Revenue Bonds (Series 2011IL), 3.00% (Trinity Healthcare Credit Group), 12/1/2017 | 2,665,025 | |
5,000,000 | Illinois Finance Authority, Revenue Bonds (Series 2012E), 5.00% TOBs (Ascension Health Alliance Senior Credit Group), Mandatory Tender 5/1/2017 | 5,641,200 | |
5,000,000 | Illinois Finance Authority, Revenue Bonds (Series A-1), 5.00% TOBs (Advocate Health Care Network), Mandatory Tender 1/15/2020 | 5,619,250 | |
4,000,000 | Illinois State Toll Highway Authority, Toll Highway Senior Revenue Bonds (Series 2013B-1), 5.00%, 12/1/2018 | 4,596,840 | |
2,000,000 | Illinois State Unemployment Insurance Fund Building Receipts, Revenue Bonds (Series 2012A), 5.00%, 12/15/2017 | 2,230,600 | |
1,000,000 | Illinois State Unemployment Insurance Fund Building Receipts, Revenue Bonds (Series 2012A), 5.00%, 6/15/2014 | 1,021,910 | |
1,000,000 | Illinois State Unemployment Insurance Fund Building Receipts, Revenue Bonds (Series 2012A), 5.00%, 6/15/2015 | 1,067,830 | |
1,000,000 | Illinois State Unemployment Insurance Fund Building Receipts, Revenue Bonds (Series 2012A), 5.00%, 6/15/2016 | 1,107,250 | |
4,000,000 | Illinois State, Refunding UT GO Bonds (Series 2010), 5.00%, 1/1/2018 | 4,452,600 | |
5,000,000 | Illinois State, UT GO Bonds (Series of March 2012), 5.00%, 3/1/2017 | 5,534,450 | |
2,205,000 | Kendall, Kane, & Will Counties, IL Community United School District No. 308, Refunding GO School Bonds (Series 2012), 4.00%, 10/1/2018 | 2,442,853 | |
2,680,000 | Railsplitter Tobacco Settlement Authority, IL, Tobacco Settlement Revenue Bonds (Series 2010), 5.00%, 6/1/2017 | 2,982,840 | |
TOTAL | 68,917,106 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
Indiana—2.7% | |||
$2,500,000 | Indiana Health Facility Financing Authority, Revenue Bonds (Series 2005A-8), 5.00% TOBs (Ascension Health Alliance Subordinate Credit Group), Mandatory Tender 7/28/2016 | $2,770,325 | |
4,000,000 | Indiana Health Facility Financing Authority, Revenue Bonds (Series 2005A-9), 5.00% TOBs (Ascension Health Alliance Subordinate Credit Group), Mandatory Tender 6/1/2017 | 4,532,200 | |
750,000 | Indiana Municipal Power Agency, Power Supply System Revenue Refunding Bonds (Series 2012A), 4.00%, 1/1/2020 | 825,052 | |
1,000,000 | Indiana Municipal Power Agency, Power Supply System Revenue Refunding Bonds (Series 2012A), 5.00%, 1/1/2019 | 1,159,100 | |
855,000 | Indiana State Finance Authority (Hospital Revenue Bonds), Hospital Revenue Bonds (Series 2012A), 5.00% (Community Health Network), 5/1/2020 | 969,638 | |
1,290,000 | Indiana State Finance Authority (Hospital Revenue Bonds), Hospital Revenue Bonds (Series 2013A), 5.00% (Beacon Health System Obligated Group), 8/15/2018 | 1,487,473 | |
1,000,000 | Indiana State Finance Authority (Hospital Revenue Bonds), Hospital Revenue Bonds (Series 2013A), 5.00% (Beacon Health System Obligated Group), 8/15/2020 | 1,144,330 | |
1,270,000 | Indiana State Finance Authority, Environmental Facilities Revenue Refunding Bonds (Series 2009B), 4.90% (Indianapolis, IN Power & Light Co.), 1/1/2016 | 1,361,021 | |
425,000 | Indiana State Finance Authority, First Lien Wastewater Utility Revenue Bonds (Series 2012A), 4.00% (CWA Authority), 10/1/2014 | 437,062 | |
625,000 | Indiana State Finance Authority, First Lien Wastewater Utility Revenue Bonds (Series 2012A), 5.00% (CWA Authority), 10/1/2018 | 723,194 | |
825,000 | Indiana State Finance Authority, First Lien Wastewater Utility Revenue Bonds (Series 2012A), 5.00% (CWA Authority), 10/1/2020 | 958,031 | |
1,000,000 | Indiana State Finance Authority, Second Lien Wastewater Utility Revenue Bonds (Series 2011B), 5.00% (CWA Authority), 10/1/2018 | 1,143,290 | |
2,500,000 | Indiana State Finance Authority, Second Lien Wastewater Utility Revenue Bonds (Series 2011B), 5.00% (CWA Authority), 10/1/2019 | 2,866,550 | |
900,000 | Purdue University, IN, Student Fee Bonds (Series 2010Y), 4.50%, 7/1/2015 | 956,673 | |
5,000,000 | Whiting, IN Environmental Facilities, Bonds (Series 2005), 5.00% (BP PLC), 7/1/2017 | 5,640,150 | |
3,000,000 | Whiting, IN Environmental Facilities, Revenue Bonds (Series 2009), 5.25% (BP PLC), 1/1/2021 | 3,447,840 | |
TOTAL | 30,421,929 | ||
Iowa—0.1% | |||
1,000,000 | Iowa Finance Authority, PCR Refunding Bonds (Series 2005), 5.00% (Interstate Power and Light Co.)/(FGIC INS), 7/1/2014 | 1,021,830 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
Kentucky—0.9% | |||
$8,700,000 | Kentucky Public Transportation Infrastructure Authority, Subordinate Toll Revenue BANs (Series 2013A), 5.00%, 7/1/2017 | $9,602,886 | |
Louisiana—3.1% | |||
2,000,000 | DeSoto Parish, LA, PCR Refunding Bonds (Series 2010), 3.25% TOBs (Southwestern Electric Power Co.), Mandatory Tender 1/2/2015 | 2,037,100 | |
4,000,000 | 1 | Louisiana State Gas & Fuels Second Lien, Revenue Refunding Bonds (Series 2013B-1 LIBOR Index), 0.588% TOBs 5/1/2017 | 3,981,760 |
3,600,000 | 1 | Louisiana State Gas & Fuels Second Lien, Revenue Refunding Bonds (Series 2013B-2 LIBOR Index), 0.668% TOBs 5/1/2018 | 3,563,244 |
8,570,000 | Louisiana State Offshore Terminal Authority, Deepwater Port Revenue Bonds (Series 2010B-1), 2.20% TOBs (Loop LLC), Mandatory Tender 10/1/2017 | 8,566,744 | |
6,000,000 | Louisiana State Offshore Terminal Authority, Deepwater Port Revenue Bonds (Series 2010B-2), 2.10% TOBs (Loop LLC), Mandatory Tender 10/1/2014 | 6,057,720 | |
3,765,000 | St. Charles Parish, LA Gulf Opportunity Zone, Revenue Bonds (Series 2010), 4.00% TOBs (Valero Energy Corp.), Mandatory Tender 6/1/2022 | 3,708,826 | |
2,500,000 | Tobacco Settlement Financing Corp., LA, Tobacco Settlement Asset-Backed Refunding Bonds (Series 2013A), 5.00%, 5/15/2018 | 2,816,350 | |
3,250,000 | Tobacco Settlement Financing Corp., LA, Tobacco Settlement Asset-Backed Refunding Bonds (Series 2013A), 5.00%, 5/15/2019 | 3,662,100 | |
TOTAL | 34,393,844 | ||
Maryland—0.6% | |||
5,270,000 | Prince Georges County, MD, GO Consolidated Public Improvement Bonds (Series 2010A), 5.00%, 9/15/2018 | 6,184,398 | |
Massachusetts—1.3% | |||
2,000,000 | Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds (Series 2010B), 5.00%, 1/1/2015 | 2,093,580 | |
1,000,000 | Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds (Series 2010B), 5.00%, 1/1/2017 | 1,119,510 | |
3,750,000 | Massachusetts Municipal Wholesale Electric Co., Power Supply Project Revenue Bonds (Nuclear Project No. 6 Series 2012A), 5.00%, 7/1/2016 | 4,144,987 | |
1,875,000 | Massachusetts Municipal Wholesale Electric Co., Power Supply Project Revenue Bonds, Nuclear Project 3 (Series 2011), 5.00%, 7/1/2015 | 2,004,450 | |
2,120,000 | Massachusetts Municipal Wholesale Electric Co., Power Supply Project Revenue Bonds,Project 6 (Series 2011), 5.00%, 7/1/2017 | 2,393,756 | |
2,130,000 | Massachusetts State HFA, Construction Loan Notes (Series 2012F), 0.65%, 12/1/2014 | 2,131,214 | |
TOTAL | 13,887,497 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
Michigan—1.8% | |||
$1,375,000 | Grand Rapids, MI Water Supply System, Revenue Refunding Bonds (Series 2010), 5.00%, 1/1/2016 | $1,498,269 | |
1,500,000 | Grand Rapids, MI Water Supply System, Revenue Refunding Bonds (Series 2010), 5.00%, 1/1/2017 | 1,686,375 | |
4,000,000 | Michigan State Hospital Finance Authority, Revenue Bonds (Series 2005 A-4), 1.63% TOBs (Ascension Health Alliance Subordinate Credit Group), Mandatory Tender 11/1/2019 | 3,787,920 | |
1,000,000 | Michigan State Hospital Finance Authority, Revenue Bonds (Series 2010B), 5.00% (Ascension Health Alliance Senior Credit Group), 11/15/2016 | 1,114,700 | |
8,875,000 | Michigan Strategic Fund, Adjustable Rate Demand LO Revenue Refunding Bonds (Series 1995C), 2.13% TOBs (Detroit Edison Co.), Mandatory Tender 9/1/2016 | 9,062,973 | |
1,000,000 | Michigan Strategic Fund, LT Obligation Revenue Bonds (Series 2011), 5.00% (Michigan State), 10/15/2019 | 1,111,630 | |
1,170,000 | Michigan Strategic Fund, LT Obligation Revenue Bonds (Series 2011), 5.00% (Michigan State), 10/15/2020 | 1,295,529 | |
TOTAL | 19,557,396 | ||
Mississippi—1.3% | |||
3,185,000 | Mississippi Development Bank, SO Bonds (Series 2010A), 5.00% (Desoto County, MS Highway), 1/1/2014 | 3,185,000 | |
560,000 | Mississippi Development Bank, SO Refunding Bonds (Series 2013A), 5.00% (Harrison County, MS Highway), 1/1/2018 | 641,922 | |
1,000,000 | Mississippi Development Bank, SO Refunding Bonds (Series 2013A), 5.00% (Harrison County, MS Highway), 1/1/2019 | 1,153,910 | |
470,000 | Mississippi Development Bank, SO Refunding Bonds (Series 2013B), 4.00% (Laurel, MS Highway), 1/1/2017 | 513,616 | |
400,000 | Mississippi Development Bank, SO Refunding Bonds (Series 2013B), 4.00% (Laurel, MS Highway), 1/1/2018 | 442,952 | |
1,500,000 | Mississippi Development Bank, SO Refunding Bonds (Series 2013B), 4.00% (Laurel, MS Highway), 1/1/2019 | 1,657,875 | |
1,425,000 | Mississippi Development Bank, SO Refunding Bonds (Series 2013C), 5.00% (Madison County, MS Highway), 1/1/2019 | 1,644,322 | |
1,000,000 | Mississippi Development Bank, Wilkinson County Correctional Facility Refunding Bonds (Series 2008D), 5.00% (Mississippi State Department of Corrections)/(United States Treasury COL), 8/1/2015 | 1,073,710 | |
3,250,000 | Mississippi Hospital Equipment & Facilities Authority, Revenue Bonds (2010 Series 1), 5.00% (North Mississippi Health Services), 10/1/2017 | 3,695,023 | |
TOTAL | 14,008,330 | ||
Missouri—0.4% | |||
3,780,000 | Missouri State Environmental Improvement & Energy Resources Authority, Environmental Improvement Revenue Refunding Bonds (Series 1992), 1.25% (Kansas City Power And Light Co.), 7/1/2017 | 3,779,660 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
Missouri—continued | |||
$1,000,000 | St. Louis, MO Municipal Finance Corp., City Justice Center Leasehold Revenue Refunding Bonds (Series 2011), 5.00% (St. Louis, MO), 2/15/2017 | $1,103,370 | |
TOTAL | 4,883,030 | ||
Nebraska—0.5% | |||
570,000 | Nebraska Public Power District, General Revenue Bonds (Series 2011A), 4.00%, 1/1/2015 | 591,512 | |
570,000 | Nebraska Public Power District, General Revenue Bonds (Series 2011A), 5.00%, 1/1/2016 | 621,340 | |
850,000 | Nebraska Public Power District, General Revenue Bonds (Series 2011A), 5.00%, 1/1/2017 | 956,428 | |
500,000 | Nebraska Public Power District, General Revenue Bonds (Series 2012A), 3.50%, 1/1/2019 | 544,470 | |
1,000,000 | Nebraska Public Power District, General Revenue Bonds (Series 2012A), 4.00%, 1/1/2018 | 1,111,110 | |
500,000 | Nebraska Public Power District, General Revenue Bonds (Series 2012A), 4.00%, 1/1/2020 | 551,515 | |
1,175,000 | Nebraska Public Power District, General Revenue Bonds (Series 2012A), 5.00%, 1/1/2019 | 1,365,009 | |
TOTAL | 5,741,384 | ||
Nevada—0.6% | |||
3,875,000 | Clark County, NV Airport System, Passenger Facility Charge Revenue Refunding Bonds (Series 2010F-1), 5.00%, 7/1/2014 | 3,964,551 | |
2,250,000 | Washoe County, NV School District, Refunding LT GO Bonds (Series 2012A), 4.00%, 6/1/2019 | 2,485,553 | |
TOTAL | 6,450,104 | ||
New Jersey—5.5% | |||
1,040,375 | Fairfield Township, NJ, 2.00% BANs, 12/12/2014 | 1,049,978 | |
2,500,000 | Gloucester County, NJ Improvement Authority, Resource Recovery Revenue Refunding Bonds (Series 1999A), 2.12% TOBs (Waste Management, Inc.), Mandatory Tender 12/1/2017 | 2,492,975 | |
2,500,000 | New Jersey EDA, Cigarette Tax Revenue Refunding Bonds (Series 2012), 5.00% (NJ Dedicated Cigarette Excise Tax), 6/15/2016 | 2,716,825 | |
2,000,000 | New Jersey EDA, Cigarette Tax Revenue Refunding Bonds (Series 2012), 5.00% (NJ Dedicated Cigarette Excise Tax), 6/15/2017 | 2,207,980 | |
3,000,000 | New Jersey EDA, Cigarette Tax Revenue Refunding Bonds (Series 2012), 5.00% (NJ Dedicated Cigarette Excise Tax), 6/15/2018 | 3,334,950 | |
16,520,000 | 1 | New Jersey EDA, School Facilities Construction Refunding SIFMA Index Bonds (Series E), 1.76% (New Jersey State), 2/1/2016 | 16,717,414 |
10,000,000 | 1 | New Jersey EDA, School Facilities Construction Refunding SIFMA Index Bonds(Series 2013 I), 1.31% (New Jersey State), 9/1/2025 | 9,834,300 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
New Jersey—continued | |||
$1,000,000 | New Jersey Health Care Facilities Financing Authority, Refunding Bonds (Series 2011), 5.00% (Meridian Health System Obligated Group), 7/1/2018 | $1,130,790 | |
600,000 | New Jersey State EDA , School Facilities Construction Revenue Refunding Bonds (Series 2008W), 5.00% (New Jersey State), 3/1/2014 | 604,860 | |
1,400,000 | New Jersey State EDA , School Facilities Construction Revenue Refunding Bonds (Series 2008W), 5.00% (New Jersey State)/(United States Treasury COL), 3/1/2014 | 1,411,326 | |
1,000,000 | New Jersey State Transportation Trust Fund Authority, Transportation System Bonds (Series 2011B), 5.00% (New Jersey State), 6/15/2018 | 1,149,640 | |
5,750,000 | 1 | New Jersey Turnpike Authority, Revenue Bonds (SIFMA Index Bonds Series 2013 E-3), 0.74% TOBs 1/1/2018 | 5,732,577 |
5,000,000 | New Jersey Turnpike Authority, Turnpike Revenue Bonds (Series 2012B), 5.00%, 1/1/2019 | 5,769,550 | |
475,000 | New Jersey Turnpike Authority, Turnpike Revenue Bonds (Series 2013A), 5.00%, 1/1/2018 | 543,485 | |
1,500,000 | New Jersey Turnpike Authority, Turnpike Revenue Bonds (Series 2013A), 5.00%, 1/1/2020 | 1,729,410 | |
4,161,000 | Newark, NJ, (Series 2013F), 1.50% RANs, 12/10/2014 | 4,183,553 | |
TOTAL | 60,609,613 | ||
New Mexico—0.7% | |||
7,000,000 | Farmington, NM, Refunding PCRBs (Series 2012A), 1.88% TOBs (El Paso Electric Co.), Mandatory Tender 9/1/2017 | 6,922,510 | |
565,000 | Sandoval County, NM, Incentive Payment Revenue Refunding Bonds (Series 2005), 4.00% (Intel Corp.), 6/1/2015 | 575,594 | |
TOTAL | 7,498,104 | ||
New York—7.8% | |||
2,500,000 | Erie County, NY IDA, School Facility Revenue Refunding Bonds (Series 2011B), 5.00% (Buffalo, NY City School District), 5/1/2018 | 2,877,900 | |
1,000,000 | Long Island Power Authority, NY, Electric System General Revenue Bonds (Series 2010A), 5.00%, 5/1/2014 | 1,015,850 | |
1,000,000 | Long Island Power Authority, NY, Electric System General Revenue Bonds (Series 2010A), 5.00%, 5/1/2015 | 1,062,120 | |
2,000,000 | Metropolitan Transportation Authority, NY, Transportation Revenue Bonds (Series 2005D), 5.00% (MTA Transportation Revenue), 11/15/2016 | 2,243,960 | |
1,000,000 | Metropolitan Transportation Authority, NY, Transportation Revenue Bonds (Series 2005G), 5.00% (MTA Transportation Revenue), 11/15/2017 | 1,147,240 | |
3,000,000 | 1 | Metropolitan Transportation Authority, NY, Transportation Revenue Variable Rate Refunding Bonds (Subseries 2002G-1C), 0.80% (MTA Transportation Revenue), 11/1/2016 | 3,011,910 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
New York—continued | |||
$2,000,000 | 1 | Metropolitan Transportation Authority, NY, Transportation Revenue Variable Rate Refunding Bonds (Subseries 2002G-1D), 0.94% (MTA Transportation Revenue), 11/1/2017 | $2,012,880 |
2,500,000 | 1Metropolitan Transportation Authority, NY, Transportation Revenue Variable Rate Refunding Bonds (Subseries 2002G-1G), 0.76% TOBs (MTA Transportation Revenue) 11/1/2015 | 2,504,625 | |
2,500,000 | 1 | Metropolitan Transportation Authority, NY, Transportation Revenue Variable Rate Refunding Bonds (Subseries 2002G-1H), 0.96% TOBs (MTA Transportation Revenue) 11/1/2016 | 2,521,100 |
3,825,000 | New York City, NY TFA , Future Tax Secured Bonds (Series 2010I-2), 5.00%, 11/1/2017 | 4,414,968 | |
3,000,000 | New York City, NY, UT GO Bonds (Fiscal 2011 Series B), 5.00%, 8/1/2017 | 3,415,050 | |
4,000,000 | 1 | New York City, NY, UT GO Bonds (Series 2008J, Subseries J-4), 0.53%, 8/1/2021 | 3,996,240 |
3,800,000 | 1 | New York City, NY, UT GO Bonds (Series 2008J, Subseries J-4), 0.61%, 8/1/2025 | 3,801,482 |
2,000,000 | New York City, NY, UT GO Bonds (Series 2012F), 5.00%, 8/1/2017 | 2,276,700 | |
2,000,000 | New York City, NY, UT GO Bonds (Series 2012F), 5.00%, 8/1/2018 | 2,306,800 | |
2,000,000 | New York City, NY, UT GO Bonds (Series 2012F), 5.00%, 8/1/2019 | 2,314,680 | |
1,345,000 | New York City, NY, UT GO Bonds (Series A), 5.00%, 8/1/2016 | 1,496,649 | |
500,000 | New York City, NY, UT GO Bonds (Series A-1), 5.00%, 8/1/2018 | 576,700 | |
1,005,000 | New York City, NY, UT GO Bonds (Series C), 5.00%, 8/1/2018 | 1,159,167 | |
4,000,000 | New York State Dormitory Authority, Revenue Bonds (Series 2011A), 5.00% (School District Financing Program), 10/1/2016 | 4,443,240 | |
1,300,000 | New York State Thruway Authority, General Revenue Bonds (Series 2012I), 5.00% (New York State Thruway Authority - General Revenue), 1/1/2018 | 1,486,888 | |
1,000,000 | New York State Thruway Authority, General Revenue Bonds (Series 2012I), 5.00% (New York State Thruway Authority - General Revenue), 1/1/2019 | 1,152,360 | |
3,125,000 | New York State Thruway Authority, General Revenue Junior Indebtedness Obligations (Series 2013A), 5.00% (New York State Thruway Authority - General Revenue), 5/1/2019 | 3,588,500 | |
8,000,000 | New York State Urban Development Corp., Service Contract Revenue Refunding Bonds (Series 2010B), 5.00%, 1/1/2016 | 8,722,240 | |
3,000,000 | New York State, Refunding UT GO Bonds (Series 2011C), 5.00%, 9/1/2014 | 3,100,080 | |
2,000,000 | Suffolk County, NY EDC., Revenue Bonds (Series 2011), 5.00% (Catholic Health Services of Long Island Obligated Group), 7/1/2018 | 2,246,900 | |
4,000,000 | Tobacco Settlement Financing Corp., NY, Asset-Backed Revenue Bonds (Series 2013A), 5.00% (New York State), 6/1/2022 | 4,416,960 | |
2,500,000 | Tobacco Settlement Financing Corp., NY, Asset-Backed Revenue Bonds (Series 2013B), 5.00% (New York State), 6/1/2021 | 2,764,750 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
New York—continued | |||
$3,995,000 | Tobacco Settlement Financing Corp., NY, Asset-Backed Revenue Bonds (Series 2013B), 5.00% (New York State), 6/1/2022 | $4,419,349 | |
3,350,000 | Triborough Bridge & Tunnel Authority, NY, General Revenue Refunding Bonds (Series 2012B), 5.00%, 11/15/2017 | 3,870,489 | |
2,000,000 | Triborough Bridge & Tunnel Authority, NY, General Revenue Refunding Bonds (Series 2012B), 5.00%, 11/15/2018 | 2,345,420 | |
TOTAL | 86,713,197 | ||
North Carolina—1.6% | |||
1,145,000 | North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds (Series 2010A), 5.00%, 1/1/2015 | 1,198,575 | |
1,250,000 | North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds (Series 2012A), 5.00%, 1/1/2018 | 1,428,125 | |
1,000,000 | North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds (Series 2012A), 5.00%, 1/1/2019 | 1,148,740 | |
2,840,000 | North Carolina Eastern Municipal Power Agency, Revenue Refunding Bonds (Series 2003F), 5.50%, 1/1/2014 | 2,840,000 | |
1,000,000 | 1 | North Carolina Medical Care Commission, Health Care Facilities Revenue Refunding Bonds (Series 2012C), 0.80% TOBs (Wake Forest Baptist Obligated Group), Mandatory Tender 12/1/2017 | 996,540 |
2,550,000 | North Carolina Medical Care Commission, Hospital Revenue Refunding Bonds (Series 2010), 5.00% (North Carolina Baptist Obligated Group), 6/1/2014 | 2,599,674 | |
1,245,000 | North Carolina Medical Care Commission, Hospital Revenue Refunding Bonds (Series 2010), 5.00% (North Carolina Baptist Obligated Group), 6/1/2015 | 1,325,078 | |
1,500,000 | North Carolina Municipal Power Agency No. 1, Revenue Refunding Bonds (Series 2008A), 5.25%, 1/1/2017 | 1,691,745 | |
2,000,000 | North Carolina State, UT GO Bonds (Series 2006A), 5.00%, 6/1/2014 | 2,040,420 | |
2,000,000 | Wake County, NC, Public Improvement UT GO Bonds, 5.00%, 3/1/2015 | 2,111,660 | |
TOTAL | 17,380,557 | ||
Ohio—2.3% | |||
1,400,000 | American Municipal Power-Ohio, Inc., Revenue Bonds (Series 2012B), 5.00% (AMP Fremont Energy), 2/15/2016 | 1,523,564 | |
2,000,000 | Buckeye Tobacco Settlement Financing Authority, OH, Tobacco Settlement Asset-Backed Bonds (Series 2007A-2), 5.00%, 6/1/2014 | 2,026,500 | |
1,800,000 | Cleveland, OH Public Power System, Revenue Refunding Bonds (Series 2010), 5.00%, 11/15/2016 | 2,011,500 | |
2,685,000 | Cleveland, OH Public Power System, Revenue Refunding Bonds (Series 2010), 5.00%, 11/15/2017 | 3,061,679 | |
2,000,000 | Hamilton County, OH Sewer System, Improvement & Refunding Revenue Bonds (Series 2013A), 5.00%, 12/1/2017 | 2,314,700 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
Ohio—continued | |||
$2,000,000 | Ohio State Air Quality Development Authority, Air Quality Revenue Refunding Bonds (Series 2009A), 3.88% TOBs (Columbus Southern Power Company), Mandatory Tender 6/1/2014 | $2,022,280 | |
2,000,000 | Ohio State Air Quality Development Authority, PCR Refunding Bonds (Series 2009-A), 5.70% (FirstEnergy Solutions Corp.), 2/1/2014 | 2,006,080 | |
2,000,000 | Ohio State Building Authority, State Facilities Revenue Refunding Bonds (Series 2010C), 5.00%, 10/1/2018 | 2,330,180 | |
795,000 | Ohio State Building Authority, State Facilities Revenue Refunding Bonds (Series 2010C), 5.00%, 10/1/2016 | 889,557 | |
625,000 | Ohio State Higher Educational Facility Commission, Revenue Bonds (Series 2011A), 4.00% (University of Dayton), 12/1/2016 | 675,688 | |
1,720,000 | Ohio State Higher Educational Facility Commission, Revenue Bonds (Series 2011A), 5.00% (University of Dayton), 12/1/2014 | 1,789,952 | |
1,000,000 | Ohio State Higher Educational Facility Commission, Revenue Bonds (Series 2011A), 5.00% (University of Dayton), 12/1/2017 | 1,136,170 | |
2,000,000 | Ohio State Higher Educational Facility Commission, Revenue Refunding Bonds (Series 2013), 4.00% (Case Western Reserve University, OH), 12/1/2017 | 2,227,960 | |
750,000 | Ohio State Higher Educational Facility Commission, Revenue Refunding Bonds (Series 2013), 4.00% (Case Western Reserve University, OH), 12/1/2019 | 833,572 | |
1,000,000 | Richland County, OH, 1.80% BANs, 7/24/2014 | 1,003,610 | |
TOTAL | 25,852,992 | ||
Oklahoma—2.4% | |||
1,410,000 | Canadian County Educational Facilities Authority, OK, Educational Facilities Lease Revenue Bonds (Series 2012), 4.00% (Mustang Public Schools), 9/1/2019 | 1,522,292 | |
2,685,000 | Canadian County Educational Facilities Authority, OK, Educational Facilities Lease Revenue Bonds (Series 2012), 4.50% (Mustang Public Schools), 9/1/2020 | 2,942,411 | |
2,285,000 | Canadian County Educational Facilities Authority, OK, Educational Facilities Lease Revenue Bonds (Series 2012), 4.50% (Mustang Public Schools), 9/1/2021 | 2,477,329 | |
2,000,000 | Oklahoma County, OK Finance Authority, Educational Facilities Lease Revenue Bonds (Series 2012), 4.00% (Midwest City-Del City Public Schools), 3/1/2018 | 2,194,240 | |
2,700,000 | Oklahoma County, OK Finance Authority, Educational Facilities Lease Revenue Bonds (Series 2012), 4.00% (Midwest City-Del City Public Schools), 3/1/2019 | 2,946,321 | |
425,000 | Oklahoma Development Finance Authority, Revenue Refunding Bonds (Series 2012), 5.00% (St. John Health System, OK), 2/15/2014 | 427,410 | |
500,000 | Oklahoma Development Finance Authority, Revenue Refunding Bonds (Series 2012), 5.00% (St. John Health System, OK), 2/15/2015 | 525,305 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
Oklahoma—continued | |||
$3,065,000 | Oklahoma State Capital Improvement Authority, State Facilities Revenue Refunding Bonds (Series 2010A), 5.00% (Oklahoma State), 7/1/2016 | $3,395,897 | |
3,150,000 | Oklahoma State Capital Improvement Authority, State Facilities Revenue Refunding Bonds (Series 2010A), 5.00% (Oklahoma State), 7/1/2017 | 3,585,803 | |
1,255,000 | Tulsa County, OK Industrial Authority, Educational Facilities Lease Revenue Bonds (Series 2011), 3.13% (Broken Arrow Public Schools), 9/1/2018 | 1,335,420 | |
2,600,000 | Tulsa County, OK Industrial Authority, Educational Facilities Lease Revenue Bonds (Series 2011), 5.00% (Broken Arrow Public Schools), 9/1/2019 | 2,992,626 | |
2,000,000 | Tulsa County, OK Industrial Authority, Educational Facilities Lease Revenue Bonds (Series 2012), 3.50% (Broken Arrow Public Schools), 9/1/2017 | 2,163,460 | |
TOTAL | 26,508,514 | ||
Oregon—0.2% | |||
1,500,000 | Tri-County Metropolitan Transportation District of Oregon, Payroll Tax & Grant Receipt Revenue Bonds (Series 2013), 4.00%, 11/1/2017 | 1,613,910 | |
900,000 | Tri-County Metropolitan Transportation District of Oregon, Payroll Tax & Grant Receipt Revenue Bonds (Series 2013), 5.00%, 11/1/2018 | 1,015,425 | |
TOTAL | 2,629,335 | ||
Pennsylvania—6.7% | |||
3,000,000 | Allegheny County Sanitation Authority, Sewer Revenue Bonds (Series 2011), 5.00% (Assured Guaranty Municipal Corp. INS), 6/1/2018 | 3,445,440 | |
4,125,000 | Allegheny County, PA HDA , Revenue Bonds (Series 2010A), 5.00% (UPMC Health System), 5/15/2015 | 4,383,679 | |
1,000,000 | Allegheny County, PA Port Authority, Special Revenue Transportation Refunding Bonds (Series 2011), 5.00%, 3/1/2017 | 1,122,280 | |
4,000,000 | Beaver County, PA IDA, PCR Refunding Bonds (Series 2008A), 2.15% (FirstEnergy Solutions Corp.), 3/1/2017 | 3,898,520 | |
5,000,000 | Beaver County, PA IDA, PCR Refunding Bonds (Series 2008A), 2.70% TOBs (FirstEnergy Solutions Corp.), Mandatory Tender 4/2/2018 | 4,881,750 | |
4,000,000 | 1 | Berks County, PA Municipal Authority, Variable Rate Revenue Bonds (Series 2012B), 1.56% TOBs (Reading Hospital & Medical Center) , Mandatory Tender 7/1/2022 | 4,001,320 |
2,805,000 | Gainesville and Hall County, GA Development Authority, Retirement Communities Revenue Refunding Bonds (Series 2012), 4.00% (ACTS Retirement Life Communities, Inc), 11/15/2017 | 2,982,977 | |
625,000 | Monroeville, PA Finance Authority, Revenue Bonds (Series 2012), 4.00% (UPMC Health System), 2/15/2016 | 667,306 | |
375,000 | Monroeville, PA Finance Authority, Revenue Bonds (Series 2012), 4.00% (UPMC Health System), 2/15/2017 | 407,261 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
Pennsylvania—continued | |||
$625,000 | Monroeville, PA Finance Authority, Revenue Bonds (Series 2012), 4.00% (UPMC Health System), 2/15/2018 | $686,900 | |
1,000,000 | Monroeville, PA Finance Authority, Revenue Bonds (Series 2012), 5.00% (UPMC Health System), 2/15/2019 | 1,140,510 | |
765,000 | Monroeville, PA Finance Authority, Revenue Bonds (Series 2012), 5.00% (UPMC Health System), 2/15/2020 | 870,953 | |
1,950,000 | Monroeville, PA Finance Authority, Revenue Bonds (Series 2012), 5.00% (UPMC Health System), 2/15/2021 | 2,209,916 | |
8,000,000 | 1 | Northampton County, PA General Purpose Authority, Variable Rate Hospital Revenue Bonds (Series 2013B), 1.46% TOBs (St. Luke's Hospital of Bethlehem), Mandatory Tender 8/15/2043 | 7,918,160 |
3,000,000 | Pennsylvania EDFA, Exempt Facilities Revenue Bonds (Series 2006A), 2.55% TOBs (FirstEnergy Solutions Corp.), Mandatory Tender 12/3/2018 | 2,961,600 | |
1,500,000 | Pennsylvania EDFA, Solid Waste Disposal Revenue Bonds, 1.75% TOBs (Waste Management, Inc.), Mandatory Tender 12/1/2015 | 1,507,335 | |
1,250,000 | Pennsylvania HFA, SFM Revenue Bonds Series 2011-112), 5.00%, 10/1/2015 | 1,344,450 | |
1,250,000 | Pennsylvania HFA, SFM Revenue Bonds Series 2011-112), 5.00%, 10/1/2016 | 1,383,100 | |
4,000,000 | Pennsylvania Intergovernmental Coop Authority, Special Tax Revenue Refunding Bonds (Series 2010), 5.00%, 6/15/2015 | 4,270,120 | |
3,000,000 | Pennsylvania Intergovernmental Coop Authority, Special Tax Revenue Refunding Bonds (Series 2010), 5.00%, 6/15/2016 | 3,320,460 | |
3,970,000 | Pennsylvania State Higher Education Facilities Authority, Revenue Bonds (Series 2010A), 5.00% (UPMC Health System), 5/15/2014 | 4,040,031 | |
4,250,000 | Pennsylvania State Higher Education Facilities Authority, Revenue Bonds (Series 2010E), 5.00% (UPMC Health System), 5/15/2015 | 4,516,517 | |
10,000,000 | 1 | Pennsylvania State Turnpike Commission, Variable Rate Turnpike Revenue Bonds (Series 2013B), 1.21%, 12/1/2019 | 10,027,500 |
1,000,000 | Philadelphia, PA Airport System, Airport Revenue Bonds (Series 2010A), 5.00%, 6/15/2015 | 1,062,080 | |
1,165,000 | Philadelphia, PA Airport System, Airport Revenue Bonds (Series 2010A), 5.00%, 6/15/2017 | 1,312,815 | |
TOTAL | 74,362,980 | ||
Rhode Island—1.6% | |||
3,690,000 | Rhode Island State and Providence Plantations, GO Bonds (Series 2011A), 5.00%, 8/1/2017 | 4,210,991 | |
4,200,000 | Rhode Island State and Providence Plantations, GO Bonds (Series 2011A), 5.00%, 8/1/2018 | 4,873,218 | |
4,120,000 | Rhode Island State and Providence Plantations, GO Bonds (Series 2011A), 5.00%, 8/1/2019 | 4,813,190 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
Rhode Island—continued | |||
$1,000,000 | Rhode Island State Health and Educational Building Corp., Revenue Refunding Bonds (Providence Public Buildings Authority)(Series 2013A), 3.00% (Providence, RI), 5/15/2015 | $1,024,730 | |
500,000 | Rhode Island State Health and Educational Building Corp., Revenue Refunding Bonds (Providence Public Buildings Authority)(Series 2013A), 4.00% (Providence, RI), 5/15/2016 | 530,200 | |
1,000,000 | Rhode Island State Health and Educational Building Corp., Revenue Refunding Bonds (Providence Public Buildings Authority)(Series 2013A), 4.00% (Providence, RI), 5/15/2017 | 1,071,500 | |
1,000,000 | Rhode Island State Health and Educational Building Corp., Revenue Refunding Bonds (Providence Public Buildings Authority)(Series 2013A), 5.00% (Providence, RI), 5/15/2018 | 1,116,580 | |
TOTAL | 17,640,409 | ||
South Carolina—1.1% | |||
645,000 | Charleston County, SC Special Source, Revenue Bonds (Series 2013), 5.00%, 12/1/2018 | 753,760 | |
1,000,000 | Charleston County, SC Special Source, Revenue Bonds (Series 2013), 5.00%, 12/1/2019 | 1,172,460 | |
1,000,000 | Charleston County, SC Special Source, Revenue Bonds (Series 2013), 5.00%, 12/1/2020 | 1,168,340 | |
2,000,000 | Piedmont Municipal Power Agency, SC, Electric Revenue Refunding Bonds (Series 2009A-2), 5.00%, 1/1/2015 | 2,089,860 | |
1,000,000 | Piedmont Municipal Power Agency, SC, Electric Revenue Refunding Bonds (Series 2010A-2), 5.00%, 1/1/2018 | 1,139,570 | |
5,000,000 | Piedmont Municipal Power Agency, SC, Revenue Refunding Bonds (Series 2008A-3), 5.00%, 1/1/2016 | 5,418,950 | |
TOTAL | 11,742,940 | ||
South Dakota—0.1% | |||
750,000 | Educational Enhancement Funding Corp., SD, Tobacco Settlement Revenue Bonds (Series 2013B), 5.00%, 6/1/2023 | 822,908 | |
Tennessee—1.0% | |||
1,000,000 | Memphis, TN Electric System, Subordinate Revenue Refunding Bonds (Series 2010), 5.00%, 12/1/2014 | 1,044,000 | |
750,000 | Memphis, TN Electric System, Subordinate Revenue Refunding Bonds (Series 2010), 5.00%, 12/1/2015 | 815,723 | |
1,500,000 | Metropolitan Government Nashville & Davidson County, TN Water & Sewer, Subordinate Lien Water & Sewer Revenue Refunding Bonds (Series 2012), 5.00%, 7/1/2018 | 1,730,460 | |
935,000 | Metropolitan Government Nashville & Davidson County, TN Water & Sewer, Subordinate Lien Water & Sewer Revenue Refunding Bonds (Series 2012), 5.00%, 7/1/2019 | 1,086,750 | |
4,000,000 | Metropolitan Government Nashville & Davidson County, TN, UT GO Refunding Bonds (Series 2010D), 5.00%, 7/1/2016 | 4,446,640 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
Tennessee—continued | |||
$2,000,000 | Metropolitan Nashville, TN Airport Authority, Airport Improvement Revenue Refunding Bonds (Series 2010B), 4.00% (Assured Guaranty Municipal Corp. INS), 7/1/2015 | $2,103,240 | |
TOTAL | 11,226,813 | ||
Texas—8.9% | |||
800,000 | Austin, TX Electric Utility System, Revenue Refunding Bonds (Series 2012A), 5.00%, 11/15/2020 | 934,152 | |
850,000 | Central Texas Regional Mobility Authority, Senior Lien Revenue Refunding Bonds (Series 2013A), 5.00%, 1/1/2018 | 910,648 | |
1,000,000 | Central Texas Regional Mobility Authority, Senior Lien Revenue Refunding Bonds (Series 2013A), 5.00%, 1/1/2019 | 1,068,730 | |
500,000 | Central Texas Regional Mobility Authority, Senior Lien Revenue Refunding Bonds (Series 2013A), 5.00%, 1/1/2020 | 532,200 | |
1,400,000 | Central Texas Regional Mobility Authority, Senior Lien Revenue Refunding Bonds (Series 2013A), 5.00%, 1/1/2021 | 1,476,874 | |
5,000,000 | Clear Creek, TX ISD, Variable Rate UT School Building Bonds (Series 2013B), 3.00% TOBs (PSFG GTD), Mandatory Tender 8/14/2017 | 5,317,750 | |
5,000,000 | Clear Creek, TX ISD, Variable Rate UT School Building Bonds (Series 2013B), 3.00% TOBs (PSFG GTD), Mandatory Tender 8/14/2019 | 5,272,950 | |
5,000 | Dallas, TX, LT GO Refunding Bonds (Series 2010C), 5.00% (Escrowed In Treasuries COL), 2/15/2016 | 5,479 | |
5,000 | Dallas, TX, LT GO Refunding Bonds (Series 2010C), 5.00% (Escrowed In Treasuries COL), 2/15/2017 | 5,672 | |
1,995,000 | Dallas, TX, LT GO Refunding Bonds (Series 2010C), 5.00%, 2/15/2016 | 2,187,178 | |
995,000 | Dallas, TX, LT GO Refunding Bonds (Series 2010C), 5.00%, 2/15/2017 | 1,126,569 | |
1,750,000 | Dallas-Fort Worth, TX International Airport, Joint Revenue Refunding Bonds (Series 2012B), 5.00%, 11/1/2018 | 2,017,348 | |
3,250,000 | Dallas-Fort Worth, TX International Airport, Joint Revenue Refunding Bonds (Series 2012B), 5.00%, 11/1/2019 | 3,721,120 | |
5,635,000 | 1 | Harris County, TX Cultural Education Facilities Finance Corp., Hospital Revenue Refunding Bonds (Series 2013B), 0.96% (Memorial Hermann Health System), 6/1/2022 | 5,618,940 |
4,500,000 | 1 | Harris County, TX Cultural Education Facilities Finance Corp., Hospital Revenue Refunding Bonds (Series 2013B), 1.01% (Memorial Hermann Health System), 6/1/2023 | 4,460,490 |
5,685,000 | 1 | Harris County, TX Cultural Education Facilities Finance Corp., Hospital Revenue Refunding Bonds (Series 2013B), 1.11% (Memorial Hermann Health System), 6/1/2024 | 5,659,531 |
2,000,000 | Harris County, TX Cultural Education Facilities Finance Corp., Revenue Bonds (Series 2008B), 5.25% (Methodist Hospital, Harris County, TX), 12/1/2014 | 2,089,500 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
Texas—continued | |||
$1,200,000 | 1 | Harris County, TX, Revenue Refunding Bonds (Series 2012A), 0.59% (Harris County, TX Toll Road Authority), 8/15/2016 | $1,202,472 |
1,515,000 | 1 | Harris County, TX, Revenue Refunding Bonds (Series 2012A), 0.69% (Harris County, TX Toll Road Authority), 8/15/2017 | 1,520,166 |
3,750,000 | 1 | Harris County, TX, Revenue Refunding Bonds (Series 2012A), 0.70% TOBs (Harris County, TX Toll Road Authority) 2/15/2016 | 3,768,337 |
2,500,000 | 1 | Harris County, TX, Revenue Refunding Bonds (Series 2012A), 0.84% (Harris County, TX Toll Road Authority), 8/15/2018 | 2,518,075 |
1,000,000 | Houston, TX Airport System, Senior Lien Revenue & Refunding Bonds (Series 2009A), 5.00%, 7/1/2015 | 1,069,350 | |
2,375,000 | Houston, TX Combined Utility System, First Lien Revenue Refunding Bonds (Series 2010C), 4.00%, 11/15/2016 | 2,606,562 | |
1,790,000 | Houston, TX Combined Utility System, First Lien Revenue Refunding Bonds (Series 2010C), 5.00%, 11/15/2016 | 2,015,451 | |
2,335,000 | Houston, TX Hotel Occupancy Tax, Hotel Occupancy Tax & Special Revenue Refunding Bonds (Series 2011A), 5.00%, 9/1/2018 | 2,618,165 | |
500,000 | Lubbock, TX HFDC, Revenue Refunding Bonds (Series 2008B), 5.00% (St. Joseph Health System), 7/1/2014 | 511,220 | |
1,090,000 | Lubbock, TX HFDC, Revenue Refunding Bonds (Series 2008B), 5.00% (St. Joseph Health System), 7/1/2015 | 1,158,801 | |
3,570,000 | Lubbock, TX HFDC, Revenue Refunding Bonds (Series 2008B), 5.00% (St. Joseph Health System), 7/1/2019 | 4,077,226 | |
5,000,000 | Midlothian, TX ISD, Variable Rate UT Tax Refunding Bonds (Series 2013-C), 3.00% TOBs (PSFG GTD), Mandatory Tender 8/1/2019 | 5,273,600 | |
7,200,000 | Mission, TX Economic Development Corp., Revenue Bonds , 0.45% TOBs (Republic Services, Inc.), Mandatory Tender 4/1/2014 | 7,200,504 | |
3,000,000 | Mission, TX EDC., Solid Waste Disposal Revenue Bonds (Series 2006), 3.75% TOBs (Waste Management, Inc.), Mandatory Tender 6/1/2015 | 3,094,680 | |
2,000,000 | North Texas Tollway Authority, System First Tier Revenue Refunding Bonds (Series 2011B), 5.00%, 1/1/2019 | 2,249,660 | |
1,000,000 | Sam Rayburn, TX Municipal Power Agency, Power Supply System Revenue Refunding Bonds (Series 2012), 5.00%, 10/1/2014 | 1,032,100 | |
2,000,000 | Sam Rayburn, TX Municipal Power Agency, Power Supply System Revenue Refunding Bonds (Series 2012), 5.00%, 10/1/2016 | 2,208,660 | |
1,250,000 | Sam Rayburn, TX Municipal Power Agency, Power Supply System Revenue Refunding Bonds (Series 2012), 5.00%, 10/1/2019 | 1,414,188 | |
550,000 | Sam Rayburn, TX Municipal Power Agency, Power Supply System Revenue Refunding Bonds (Series 2012), 5.00%, 10/1/2021 | 612,953 | |
2,375,000 | Texas State Public Finance Authority, Refunding UT GO Bonds (Series 2011), 5.00% (Texas State), 10/1/2018 | 2,788,582 | |
2,600,000 | Texas State Public Finance Authority, UT GO Refunding Bonds (Series 2010A), 5.00% (Texas State), 10/1/2016 | 2,917,980 | |
3,105,000 | Texas State Public Finance Authority, UT GO Refunding Bonds (Series 2010A), 5.00% (Texas State), 10/1/2017 | 3,582,642 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
Texas—continued | |||
$1,110,000 | Texas State, College Student Loan Bonds (Series 2010), 5.00%, 8/1/2014 | $1,141,402 | |
TOTAL | 98,987,907 | ||
Utah—0.9% | |||
1,350,000 | Riverton, UT Hospital Revenue Authority, Hospital Revenue Bonds (Series 2009), 5.00% (IHC Health Services, Inc.), 8/15/2015 | 1,449,400 | |
3,000,000 | Utah County, UT IDA, Environmental Improvement Revenue Refunding Bonds (Series 2011), 5.38% (United States Steel Corp.), 11/1/2015 | 3,010,140 | |
5,000,000 | Utah State, UT GO Bonds (Series 2009C), 5.00%, 7/1/2017 | 5,753,350 | |
TOTAL | 10,212,890 | ||
Virginia—1.5% | |||
4,800,000 | Charles City County, VA EDA, Variable Rate Demand Solid Waste Disposal Revenue Bonds (Series 2004A), 3.13% TOBs (Waste Management, Inc.), Mandatory Tender 11/1/2016 | 4,976,208 | |
2,000,000 | Louisa, VA IDA, PCR Refunding Bonds (Series 2008C), 1.50% TOBs (Virginia Electric & Power Co.), Mandatory Tender 12/1/2014 | 2,010,480 | |
2,000,000 | Pittsylvania County, VA, UT GO School Refunding Notes (Series 2012), 3.00%, 7/15/2017 | 2,003,480 | |
1,000,000 | Roanoke, VA EDA, Hospital Revenue Bonds (Series 2012), 5.00% (Carilion Health System Obligated Group), 7/1/2019 | 1,140,410 | |
2,000,000 | Roanoke, VA EDA, Hospital Revenue Bonds (Series 2012), 5.00% (Carilion Health System Obligated Group), 7/1/2020 | 2,270,020 | |
3,000,000 | Virginia Peninsula Port Authority, Revenue Refunding Bonds (Series 2003), 2.38% TOBs (Dominion Terminal Associates)/(Dominion Resources, Inc. GTD), Mandatory Tender 10/1/2016 | 3,060,210 | |
1,430,000 | York County, VA EDA, PCR Refunding Bonds (Series 2009A), 4.05% TOBs (Virginia Electric & Power Co.), Mandatory Tender 5/1/2014 | 1,444,700 | |
TOTAL | 16,905,508 | ||
Washington—1.9% | |||
1,500,000 | Port of Bellingham, WA Industrial Development Corp., Revenue Refunding Bonds (Series 2003A), 5.00% (BP PLC), 1/1/2016 | 1,626,945 | |
1,000,000 | Seattle, WA Municipal Light & Power, Revenue Refunding Bonds (Series 2010B), 5.00%, 2/1/2016 | 1,094,520 | |
1,000,000 | Seattle, WA Municipal Light & Power, Revenue Refunding Bonds (Series 2010B), 5.00%, 2/1/2017 | 1,130,580 | |
2,500,000 | Snohomish County, WA Public Utility District No. 1, Generation System Revenue Refunding Bonds, 5.00%, 12/1/2014 | 2,611,150 | |
1,500,000 | Tobacco Settlement Authority, WA, Tobacco Settlement Revenue Refunding Bonds (Series 2013), 5.00%, 6/1/2017 | 1,688,805 | |
3,415,000 | Tobacco Settlement Authority, WA, Tobacco Settlement Revenue Refunding Bonds (Series 2013), 5.00%, 6/1/2019 | 3,890,061 | |
5,000,000 | Tobacco Settlement Authority, WA, Tobacco Settlement Revenue Refunding Bonds (Series 2013), 5.00%, 6/1/2020 | 5,666,700 |
Principal Amount | Value | ||
MUNICIPAL BONDS—continued | |||
Washington—continued | |||
$3,000,000 | Washington State Health Care Facilities Authority, Revenue Bonds (Series 2012B), 5.00% TOBs (Providence Health & Services), Mandatory Tender 10/1/2021 | $3,407,580 | |
TOTAL | 21,116,341 | ||
West Virginia—0.5% | |||
5,000,000 | West Virginia EDA, Solid Waste Disposal Facilities Revenue Bonds (Series 2010A), 3.13% TOBs (Ohio Power Co.), Mandatory Tender 4/1/2015 | 5,116,800 | |
Wisconsin—0.9% | |||
4,785,000 | Wisconsin Health & Educational Facilities Authority, Revenue Bonds (Series 2011A), 5.00% (Gundersen Lutheran), 10/15/2019 | 5,376,713 | |
1,310,000 | Wisconsin Health & Educational Facilities Authority, Revenue Bonds (Series 2011A), 5.00% (Gundersen Lutheran), 10/15/2020 | 1,460,506 | |
2,500,000 | Wisconsin State, GO Refunding Bonds (Series 2011-1), 5.00%, 5/1/2016 | 2,761,475 | |
TOTAL | 9,598,694 | ||
Wyoming—0.3% | |||
3,650,000 | Albany County, WY, PCRBs (Series 1985), 1.85% TOBs (Union Pacific Railroad Co.)/(Union Pacific Corp. GTD), Optional Tender 12/1/2014 | 3,649,708 | |
TOTAL MUNICIPAL BONDS (IDENTIFIED COST $1,044,084,929) | 1,056,869,029 | ||
SHORT-TERM MUNICIPALS—4.8%2 | |||
Connecticut—0.4% | |||
5,000,000 | Connecticut State, Variable-Rate Remarketed Obligations (Series A-4), 01/01/2018 | 5,000,000 | |
Illinois—0.5% | |||
5,000,000 | 3,4 | Illinois Finance Authority, ROCs (Series 11503) Weekly VRDNs (Resurrection Health Care Corp.)/(Assured Guaranty Municipal Corp. INS)/(Citibank NA, New York LIQ), 0.310%, 1/2/2014 | 5,000,000 |
New York—0.7% | |||
8,200,000 | New York City, NY TFA , New York City Recovery Bonds (2003 Subseries 2-B) Daily VRDNs (Dexia Credit Local LIQ), 0.300%, 1/1/2014 | 8,200,000 |
Principal Amount | Value | ||
SHORT-TERM MUNICIPALS—continued2 | |||
Texas—3.2% | |||
$35,500,000 | Port of Port Arthur Navigation District of Jefferson County, TX, (Subseries 2009C) Daily VRDNs (Motiva Enterprises LLC), 0.750%, 1/1/2014 | $35,500,000 | |
TOTAL SHORT-TERM MUNICIPALS (AT AMORTIZED COST) | 53,700,000 | ||
TOTAL MUNICIPAL INVESTMENTS—100.3% (AT IDENTIFIED COST $1,097,784,379)5 | 1,110,569,029 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.3)%6 | (3,517,308) | ||
TOTAL NET ASSETS—100% | $1,107,051,721 |
1 | Floating rate notes with current rate and maturity or tender date shown. |
2 | Current rate and next reset date shown for Variable Rate Demand Notes. |
3 | Denotes a restricted security that either: (a) cannot be offered for public sale without first being registered, or being able to take advantage of an exemption from registration, under the Securities Act of 1933; or (b) is subject to a contractual restriction on public sales. At December 31, 2013, this liquid restricted security amounted to $5,000,000, which represented 0.4% of total net assets. |
4 | Denotes a restricted security that may be resold without restriction to “qualified institutional buyers” as defined in Rule 144A under the Securities Act of 1933 and that the Fund has determined to be liquid under criteria established by the Fund's Board of Trustees (the “Trustees”). At December 31, 2013, this liquid restricted security amounted to $5,000,000, which represented 0.4% of total net assets. |
5 | The cost of investments for federal tax purposes amounts to $1,097,784,929. |
6 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
BANs | —Bond Anticipation Notes |
CDA | —Community Development Authority |
COL | —Collateralized |
COPs | —Certificates of Participation |
CP | —Commercial Paper |
EDA | —Economic Development Authority |
EDC | —Economic Development Corporation |
EDFA | —Economic Development Finance Authority |
FGIC | —Financial Guaranty Insurance Company |
GO | —General Obligation |
GTD | —Guaranteed |
HDA | —Hospital Development Authority |
HFA | —Housing Finance Authority |
HFDC | —Health Facility Development Corporation |
IDA | —Industrial Development Authority |
IDB | —Industrial Development Bond |
INS | —Insured |
ISD | —Independent School District |
LIBOR | —London Interbank Offered Rates |
LIQ | —Liquidity Agreement |
LO | —Limited Obligation |
LT | —Limited Tax |
PCFA | —Pollution Control Finance Authority |
PCRBs | —Pollution Control Revenue Bonds |
PSFG | —Public School Fund Guarantee |
RANs | —Revenue Anticipation Notes |
ROCs | —Reset Option Certificates |
SFM | —Single Family Mortgage |
SIFMA | —Securities Industry and Financial Markets Association |
SO | —Special Obligation |
TFA | —Transitional Finance Authority |
TOBs | —Tender Option Bonds |
USDT | —Unified School District |
UT | —Unlimited Tax |
VRDNs | —Variable Rate Demand Notes |
Six Months Ended (unaudited) 12/31/2013 | Year Ended June 30 | |||||
2013 | 2012 | 2011 | 2010 | 2009 | ||
Net Asset Value, Beginning of Period | $10.30 | $10.41 | $10.22 | $10.14 | $9.95 | $9.96 |
Income From Investment Operations: | ||||||
Net investment income | 0.05 | 0.12 | 0.16 | 0.14 | 0.17 | 0.29 |
Net realized and unrealized gain (loss) on investments | 0.02 | (0.11) | 0.19 | 0.08 | 0.19 | (0.01) |
TOTAL FROM INVESTMENT OPERATIONS | 0.07 | 0.01 | 0.35 | 0.22 | 0.36 | 0.28 |
Less Distributions: | ||||||
Distributions from net investment income | (0.05) | (0.12) | (0.16) | (0.14) | (0.17) | (0.29) |
Net Asset Value, End of Period | $10.32 | $10.30 | $10.41 | $10.22 | $10.14 | $9.95 |
Total Return1 | 0.70% | 0.06% | 3.40% | 2.20% | 3.67% | 2.83% |
Ratios to Average Net Assets: | ||||||
Net expenses | 0.96%2 | 0.97% | 0.97% | 0.97% | 0.98% | 0.97%3 |
Net investment income | 0.99%2 | 1.12% | 1.49% | 1.40% | 1.44% | 2.88% |
Expense waiver/reimbursement4 | 0.09%2 | 0.09% | 0.09% | 0.09% | 0.11% | 0.19% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $493,759 | $539,402 | $375,254 | $265,063 | $322,085 | $43,851 |
Portfolio turnover | 9% | 15% | 14% | 37% | 22% | 15% |
1 | Based on net asset value, which does not reflect the sales charge, redemption fee or contingent deferred sales charge, if applicable. Total returns for periods of less than one year are not annualized. |
2 | Computed on an annualized basis. |
3 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio is 0.97% for the year ended June 30, 2009, after taking into account these expense reductions. |
4 | This expense decrease is reflected in both the net expense and net investment income ratios shown above. |
Six Months Ended (unaudited) 12/31/2013 | Year Ended June 30 | |||||
2013 | 2012 | 2011 | 2010 | 2009 | ||
Net Asset Value, Beginning of Period | $10.30 | $10.41 | $10.22 | $10.14 | $9.95 | $9.96 |
Income From Investment Operations: | ||||||
Net investment income | 0.08 | 0.17 | 0.21 | 0.19 | 0.22 | 0.33 |
Net realized and unrealized gain (loss) on investments | 0.02 | (0.11) | 0.19 | 0.08 | 0.19 | (0.00)1 |
TOTAL FROM INVESTMENT OPERATIONS | 0.10 | 0.06 | 0.40 | 0.27 | 0.41 | 0.33 |
Less Distributions: | ||||||
Distributions from net investment income | (0.08) | (0.17) | (0.21) | (0.19) | (0.22) | (0.34) |
Net Asset Value, End of Period | $10.32 | $10.30 | $10.41 | $10.22 | $10.14 | $9.95 |
Total Return2 | 0.95% | 0.57% | 3.92% | 2.71% | 4.19% | 3.34% |
Ratios to Average Net Assets: | ||||||
Net expenses | 0.46%3 | 0.47% | 0.47% | 0.47% | 0.48% | 0.48%4 |
Net investment income | 1.50%3 | 1.62% | 1.99% | 1.91% | 2.15% | 3.38% |
Expense waiver/reimbursement5 | 0.23%3 | 0.21% | 0.22% | 0.23% | 0.23% | 0.32% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $577,772 | $479,671 | $391,670 | $316,572 | $292,024 | $181,396 |
Portfolio turnover | 9% | 15% | 14% | 37% | 22% | 15% |
1 | Represents less than $0.01. |
2 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
3 | Computed on an annualized basis. |
4 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio is 0.48% for the year ended June 30, 2009, after taking into account these expense reductions. |
5 | This expense decrease is reflected in both the net expense and net investment income ratios shown above. |
Six Months Ended (unaudited) 12/31/2013 | Year Ended June 30 | |||||
2013 | 2012 | 2011 | 2010 | 2009 | ||
Net Asset Value, Beginning of Period | $10.30 | $10.41 | $10.22 | $10.14 | $9.95 | $9.96 |
Income From Investment Operations: | ||||||
Net investment income | 0.06 | 0.14 | 0.18 | 0.17 | 0.20 | 0.31 |
Net realized and unrealized gain (loss) on investments | 0.02 | (0.11) | 0.19 | 0.08 | 0.19 | (0.01) |
TOTAL FROM INVESTMENT OPERATIONS | 0.08 | 0.03 | 0.37 | 0.25 | 0.39 | 0.30 |
Less Distributions: | ||||||
Distributions from net investment income | (0.06) | (0.14) | (0.18) | (0.17) | (0.20) | (0.31) |
Net Asset Value, End of Period | $10.32 | $10.30 | $10.41 | $10.22 | $10.14 | $9.95 |
Total Return1 | 0.83% | 0.32% | 3.68% | 2.49% | 3.94% | 3.10% |
Ratios to Average Net Assets: | ||||||
Net expenses | 0.70%2 | 0.71% | 0.71% | 0.70% | 0.71% | 0.71%3 |
Net investment income | 1.25%2 | 1.38% | 1.76% | 1.68% | 1.91% | 3.16% |
Expense waiver/reimbursement4 | 0.34%2 | 0.34% | 0.34% | 0.34% | 0.38% | 0.44% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $35,520 | $37,815 | $45,168 | $44,705 | $41,859 | $20,366 |
Portfolio turnover | 9% | 15% | 14% | 37% | 22% | 15% |
1 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
2 | Computed on an annualized basis. |
3 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio is 0.71% for the year ended June 30, 2009, after taking into account these expense reductions. |
4 | This expense decrease is reflected in both the net expense and net investment income ratios shown above. |
Assets: | ||
Total investment in securities, at value (identified cost $1,097,784,379) | $1,110,569,029 | |
Cash | 104,627 | |
Income receivable | 9,689,920 | |
Receivable for shares sold | 4,543,017 | |
TOTAL ASSETS | 1,124,906,593 | |
Liabilities: | ||
Payable for investments purchased | $9,838,875 | |
Payable for shares redeemed | 7,482,141 | |
Income distribution payable | 131,822 | |
Payable for shareholder services fee (Note 5) | 176,146 | |
Payable for distribution services fee (Note 5) | 99,487 | |
Payable for transfer agent fee | 37,426 | |
Accrued expenses (Note 5) | 88,975 | |
TOTAL LIABILITIES | 17,854,872 | |
Net assets for 107,319,315 shares outstanding | $1,107,051,721 | |
Net Assets Consists of: | ||
Paid-in capital | $1,103,095,725 | |
Net unrealized appreciation of investments | 12,784,650 | |
Accumulated net realized loss on investments | (8,828,424) | |
Distributions in excess of net investment income | (230) | |
TOTAL NET ASSETS | $1,107,051,721 | |
Net Asset Value, Offering Price and Redemption Proceeds Per Share | ||
Class A Shares: | ||
Net asset value per share ($493,759,432 ÷ 47,864,509 shares outstanding), no par value, unlimited shares authorized | $10.32 | |
Offering price per share (100/99.00 of $10.32) | $10.42 | |
Redemption proceeds per share | $10.32 | |
Institutional Shares: | ||
Net asset value per share ($577,772,480 ÷ 56,011,556 shares outstanding), no par value, unlimited shares authorized | $10.32 | |
Offering price per share | $10.32 | |
Redemption proceeds per share | $10.32 | |
Service Shares: | ||
Net asset value per share ($35,519,809 ÷ 3,443,250 shares outstanding), no par value, unlimited shares authorized | $10.32 | |
Offering price per share | $10.32 | |
Redemption proceeds per share | $10.32 |
Investment Income: | |||
Interest | $10,441,496 | ||
Expenses: | |||
Investment adviser fee (Note 5) | $2,136,386 | ||
Administrative fee (Note 5) | 417,130 | ||
Custodian fees | 20,013 | ||
Transfer agent fees | 127,217 | ||
Directors'/Trustees' fees (Note 5) | 5,728 | ||
Auditing fees | 13,520 | ||
Legal fees | 4,456 | ||
Distribution services fee (Note 5) | 662,032 | ||
Shareholder services fee (Note 5) | 1,026,032 | ||
Account administration fee (Note 2) | 13,247 | ||
Portfolio accounting fees | 110,927 | ||
Share registration costs | 55,662 | ||
Printing and postage | 23,790 | ||
Insurance premiums (Note 5) | 2,827 | ||
Miscellaneous (Note 5) | 6,288 | ||
TOTAL EXPENSES | 4,625,255 | ||
Waivers and Reimbursements: | |||
Waiver of investment adviser fee (Note 5) | $(464,854) | ||
Waiver of distribution services fee (Note 5) | (46,404) | ||
Reimbursement of shareholder services fee (Note 5) | (376,184) | ||
Reimbursement of account administration fee (Note 2) | (2,108) | ||
TOTAL WAIVERS AND REIMBURSEMENTS | (889,550) | ||
Net expenses | 3,735,705 | ||
Net investment income | 6,705,791 | ||
Realized and Unrealized Gain (Loss) on Investments: | |||
Net realized loss on investments | (985,429) | ||
Net change in unrealized appreciation of investments | 2,158,975 | ||
Net realized and unrealized gain on investments | 1,173,546 | ||
Change in net assets resulting from operations | $7,879,337 |
Six Months Ended (unaudited) 12/31/2013 | Year Ended 6/30/2013 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $6,705,791 | $12,983,215 |
Net realized gain (loss) on investments | (985,429) | 133,093 |
Net change in unrealized appreciation/depreciation of investments | 2,158,975 | (12,260,452) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 7,879,337 | 855,856 |
Distributions to Shareholders: | ||
Distributions from net investment income | ||
Class A Shares | (2,445,158) | (5,203,939) |
Institutional Shares | (4,029,037) | (7,198,012) |
Service Shares | (231,826) | (586,548) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (6,706,021) | (12,988,499) |
Share Transactions: | ||
Proceeds from sale of shares | 270,793,945 | 696,926,263 |
Net asset value of shares issued to shareholders in payment of distributions declared | 5,938,045 | 10,332,118 |
Cost of shares redeemed | (227,741,744) | (450,329,198) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 48,990,246 | 256,929,183 |
Change in net assets | 50,163,562 | 244,796,540 |
Net Assets: | ||
Beginning of period | 1,056,888,159 | 812,091,619 |
End of period (including distributions in excess of net investment income of $(230) and $0, respectively) | $1,107,051,721 | $1,056,888,159 |
■ | Fixed-income securities acquired with remaining maturities greater than 60 days are fair valued using price evaluations provided by a pricing service approved by the Trustees. |
■ | Fixed-income securities and repurchase agreements acquired with remaining maturities of 60 days or less are valued at their amortized cost (adjusted for the accretion of any discount or amortization of any premium), unless the issuer's creditworthiness is impaired or other factors indicate that amortized cost is not an accurate estimate of the investment's fair value, in which case it would be valued in the same manner as a longer-term security. |
■ | Shares of other mutual funds or non-exchange-traded investment companies are valued based upon their reported NAVs. |
■ | Derivative contracts listed on exchanges are valued at their reported settlement or closing price. |
■ | Over-the-counter (OTC) derivative contracts are fair valued using price evaluations provided by a pricing service approved by the Trustees. |
■ | For securities that are fair valued in accordance with procedures established by and under general supervision of the Trustees, certain factors may be considered such as: the purchase price of the security, information obtained by contacting the issuer, analysis of the issuer's financial statements or other available documents, fundamental analytical data, the nature and duration of restrictions on disposition, the movement of the market in which the security is normally traded and public trading in similar securities of the issuer or comparable issuers. |
Account Administration Fees Incurred | Account Administration Fees Reimbursed | |
Institutional Shares | $2,108 | $(2,108) |
Service Shares | 11,139 | — |
TOTAL | $13,247 | $(2,108) |
Six Months Ended 12/31/2013 | Year Ended 6/30/2013 | |||
Class A Shares: | Shares | Amount | Shares | Amount |
Shares sold | 8,295,837 | $85,575,639 | 39,539,275 | $413,009,962 |
Shares issued to shareholders in payment of distributions declared | 235,131 | 2,423,568 | 451,715 | 4,716,147 |
Shares redeemed | (13,019,724) | (134,003,753) | (23,688,923) | (247,261,660) |
NET CHANGE RESULTING FROM CLASS A SHARE TRANSACTIONS | (4,488,756) | $(46,004,546) | 16,302,067 | $170,464,449 |
Six Months Ended 12/31/2013 | Year Ended 6/30/2013 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 17,743,107 | $182,693,820 | 26,152,722 | $273,173,487 |
Shares issued to shareholders in payment of distributions declared | 323,025 | 3,330,140 | 506,405 | 5,287,243 |
Shares redeemed | (8,611,749) | (88,699,481) | (17,730,748) | (185,020,984) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 9,454,383 | $97,324,479 | 8,928,379 | $ 93,439,746 |
Six Months Ended 12/31/2013 | Year Ended 6/30/2013 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 245,007 | $2,524,486 | 1,027,978 | $ 10,742,814 |
Shares issued to shareholders in payment of distributions declared | 17,877 | 184,337 | 31,475 | 328,728 |
Shares redeemed | (489,726) | (5,038,510) | (1,728,760) | (18,046,554) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (226,842) | $(2,329,687) | (669,307) | $ (6,975,012) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 4,738,785 | $48,990,246 | 24,561,139 | $256,929,183 |
Expiration Year | Short-Term | Long-Term | Total |
No expiration | $511,463 | $- | $511,463 |
2014 | $458,259 | NA | $458,259 |
2015 | $983,114 | NA | $983,114 |
2016 | $337,524 | NA | $337,524 |
2017 | $2,201,047 | NA | $2,201,047 |
2018 | $2,870,784 | NA | $2,870,784 |
2019 | $566,786 | NA | $566,786 |
Administrative Fee | Average Daily Net Assets of the Investment Complex |
0.150% | on the first $5 billion |
0.125% | on the next $5 billion |
0.100% | on the next $10 billion |
0.075% | on assets in excess of $20 billion |
Share Class Name | Percentage of Average Daily Net Assets of Class |
Class A Shares | 0.25% |
Service Shares | 0.25% |
Distribution Service Fees Incurred | Distribution Services Fees Waived | |
Class A Shares | $615,628 | $— |
Service Shares | 46,404 | (46,404) |
TOTAL | $662,032 | $(46,404) |
Service Fees Incurred | Service Fees Reimbursed | |
Class A Shares | $615,628 | $— |
Institutional Shares | 376,179 | (376,179) |
Service Shares | 34,225 | (5) |
TOTAL | $1,026,032 | $(376,184) |
Purchases | $140,139,604 |
Sales | $75,944,000 |
Beginning Account Value 7/1/2013 | Ending Account Value 12/31/2013 | Expenses Paid During Period1 | |
Actual: | |||
Class A Shares | $1,000 | $1,007.00 | $4.86 |
Institutional Shares | $1,000 | $1,009.50 | $2.33 |
Service Shares | $1,000 | $1,008.30 | $3.54 |
Hypothetical (assuming a 5% return before expenses): | |||
Class A Shares | $1,000 | $1,020.37 | $4.89 |
Institutional Shares | $1,000 | $1,022.89 | $2.35 |
Service Shares | $1,000 | $1,021.68 | $3.57 |
1 | Expenses are equal to the Fund's annualized net expense ratios, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Class A Shares | 0.96% |
Institutional Shares | 0.46% |
Service Shares | 0.70% |
Name | For | Withheld |
John T. Collins | 92,410,168.551 | 942,564.532 |
Maureen Lally-Green | 92,350,522.013 | 1,002,211.070 |
P. Jerome Richey | 92,406,265.606 | 946,467.477 |
1 | The following Trustees continued their terms: John F. Donahue, J. Christopher Donahue, Maureen Lally-Green (having been previously appointed by the Board), Peter E. Madden, Charles F. Mansfield, Jr., Thomas M. O'Neill, and John S Walsh. |
![](https://capedge.com/proxy/N-CSRS/0001318148-14-000328/fedlogok.jpg)
Federated Investors Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 313907107
CUSIP 313907206
2014 ©Federated Investors, Inc.
Item 2. Code of Ethics
Not Applicable
Item 3. Audit Committee Financial Expert
Not Applicable
Item 4. Principal Accountant Fees and Services
Not Applicable
Item 5. Audit Committee of Listed Registrants
Not Applicable
Item 6. Schedule of Investments
(a) The registrant’s Schedule of Investments is included as part of the Report to Stockholders filed under Item 1 of this form.
(b) Not Applicable; Fund had no divestments during the reporting period covered since the previous Form N-CSR filing.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not Applicable |
Item 8. Portfolio Managers of Closed-End Management Investment Companies
Not Applicable |
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not Applicable |
Item 10. Submission of Matters to a Vote of Security Holders
No Changes to Report
Item 11. Controls and Procedures
(a) The registrant’s President and Treasurer have concluded that the
registrant’s disclosure controls and procedures (as defined in rule 30a-3(c) under the Act) are effective in design and operation and are sufficient to form the basis of the certifications required by Rule 30a-(2) under the Act, based on their evaluation of these disclosure controls and procedures within 90 days of the filing date of this report on Form N-CSR.
(b) There were no changes in the registrant’s internal control over financial reporting (as defined in rule 30a-3(d) under the Act) during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. Exhibits
(a)(1) Code of Ethics- Not Applicable to this Report.
(a)(2) Certifications of Principal Executive Officer and Principal Financial Officer.
(a)(3) Not Applicable.
(b) Certifications pursuant to 18 U.S.C. Section 1350.
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 Federated Short-Intermediate Duration Municipal Trust
By /S/ Lori A. Hensler
Lori A. Hensler, Principal Financial Officer
Date February 12, 2014
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.
By /S/ John B. Fisher
John B. Fisher, Principal Executive Officer
Date February 12, 2014
By /S/ Lori A. Hensler
Lori A. Hensler, Principal Financial Officer
Date February 12, 2014