SECURITIES AND EXCHANGE COMMISSION
INVESTMENT COMPANIES
(Address of principal executive offices) (Zip code)
OppenheimerFunds, Inc.
Two World Financial Center, New York, New York 10281-1008
(Name and address of agent for service)
December 31, 2011 |
Management Commentary and Annual Report |
Limited Term New York |
Municipal Fund |
M A N A G E M E N T C O M M E N TA R Y |
An Interview with Your Fund’s Portfolio Managers |
A N N U A L R E P O RT |
Listing of Top Holdings Fund Performance Discussion Financial Statements |
“If you’re looking for guidance about current market conditions and fixed-income strategies, it seems likely that portfolio managers with a long and focused track record in municipal bond investing would have sharper insights than any new media personality.” |
Dan Loughran, Senior Vice President, Senior Portfolio Manager and Team Leader, OppenheimerFunds/Rochester |
Tobacco-Master Settlement Agreement | 16.4 | % | ||
Hospital/Healthcare | 12.9 | |||
General Obligation | 8.7 | |||
Government Appropriation | 8.5 | |||
Marine/Aviation Facilities | 8.4 | |||
Highways/Commuter Facilities | 8.2 | |||
Electric Utilities | 6.0 | |||
Sales Tax Revenue | 4.1 | |||
Higher Education | 3.9 | |||
Education | 3.7 |
Credit Rating Breakdown | NRSRO Only Total | |||
AAA | 2.6 | % | ||
AA | 25.0 | |||
A | 20.7 | |||
BBB | 42.2 | |||
BB or lower | 1.2 | |||
Unrated | 8.3 | |||
Total | 100 | % |
1. | December 30, 2011, was the last business (trading) day of the Fund’s fiscal year. See Note 1 of the accompanying Notes to Financial Statements. |
2. | Investments in “tobacco bonds,” which are backed by the proceeds a state or territory receives from the 1998 national litigation settlement with tobacco manufacturers, may be vulnerable to economic and/or legislative events that affect issuers in a particular municipal market sector. Annual payments by MSA-participating manufacturers, for example, hinge on many factors, including annual domestic cigarette shipments, inflation and the relative market share of non-participating manufacturers. To date, we believe consumption figures remain within an acceptable range of the assumptions used to structure MSA bonds. Future MSA payments could be reduced if consumption were to fall more rapidly than originally forecast. |
1. | December 30, 2011 was the last business day of the Fund’s fiscal year. See Note 1 of the accompanying Notes to Financial Statements. Index returns are calculated through December 31, 2011. | |
2. | Effective April 1, 2012, the maximum initial sales charge for Class A shares of the Fund will be 2.25%. |
1. | December 30, 2011 was the last business day of the Fund’s fiscal year. See Note 1 of the accompanying Notes to Financial Statements. Index returns are calculated through December 31, 2011. | |
2. | Effective April 1, 2012, the maximum initial sales charge for Class A shares of the Fund will be 2.25%. |
1. | December 30, 2011 was the last business day of the Fund’s fiscal year. See Note 1 of the accompanying Notes to Financial Statements. Index returns are calculated through December 31, 2011. | |
2. | Effective April 1, 2012, the maximum initial sales charge for Class A shares of the Fund will be 2.25%. |
1. | Effective April 1, 2012, the maximum initial sales charge for Class A shares of the Fund will be 2.25%. |
Beginning | Ending | Expenses | ||||||||||
Account | Account | Paid During | ||||||||||
Value | Value | 6 Months Ended | ||||||||||
Actual | July 1, 2011 | December 30, 2011 | December 30, 2011 | |||||||||
Class A | $ | 1,000.00 | $ | 1,046.20 | $ | 3.96 | ||||||
Class B | 1,000.00 | 1,038.60 | 8.47 | |||||||||
Class C | 1,000.00 | 1,039.30 | 7.90 | |||||||||
Class Y | 1,000.00 | 1,047.40 | 2.62 | |||||||||
Hypothetical | ||||||||||||
(5% return before expenses) | ||||||||||||
Class A | 1,000.00 | 1,021.21 | 3.91 | |||||||||
Class B | 1,000.00 | 1,016.80 | 8.38 | |||||||||
Class C | 1,000.00 | 1,017.35 | 7.82 | |||||||||
Class Y | 1,000.00 | 1,022.51 | 2.59 |
Class | Expense Ratios | |||
Class A | 0.77 | % | ||
Class B | 1.65 | |||
Class C | 1.54 | |||
Class Y | 0.51 |
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
Municipal Bonds and Notes—100.6% | ||||||||||||||||||||
New York—72.3% | ||||||||||||||||||||
$ | 2,100,000 | Albany County, NY IDA (Albany College of Pharmacy)1 | 5.250 | % | 12/01/2019 | 12/01/2014 | A | $ | 2,171,589 | |||||||||||
50,000 | Albany County, NY IDA (Wildwood Programs)1 | 4.900 | 07/01/2021 | 08/04/2019 | B | 44,768 | ||||||||||||||
140,000 | Albany, NY Hsg. Authority (Lark Drive) | 5.200 | 12/01/2013 | 01/31/2012 | A | 141,016 | ||||||||||||||
260,000 | Albany, NY Hsg. Authority (Lark Drive)1 | 5.400 | 12/01/2018 | 01/31/2012 | A | 261,638 | ||||||||||||||
1,365,000 | Albany, NY IDA (Brighter Choice Charter School for Girls)1 | 4.500 | 04/01/2018 | 04/12/2017 | B | 1,338,683 | ||||||||||||||
1,370,000 | Albany, NY IDA (Brighter Choice Charter School for Girls)1 | 4.550 | 04/01/2015 | 01/11/2014 | B | 1,380,631 | ||||||||||||||
1,875,000 | Albany, NY IDA (Charitable Leadership) | 5.500 | 07/01/2012 | 07/01/2012 | 1,115,438 | |||||||||||||||
8,810,000 | Albany, NY IDA (Charitable Leadership) | 6.000 | 07/01/2019 | 04/20/2016 | B | 5,333,926 | ||||||||||||||
2,660,000 | Albany, NY IDA (Daughters of Sarah Nursing Home)1 | 5.250 | 10/20/2021 | 04/20/2012 | A | 2,737,725 | ||||||||||||||
25,000 | Albany, NY IDA (Daughters of Sarah Nursing Home)1 | 5.375 | 10/20/2030 | 04/20/2012 | A | 25,642 | ||||||||||||||
955,000 | Albany, NY IDA (H. Johnson Office Park)1 | 5.750 | 03/01/2018 | 03/01/2018 | 937,218 | |||||||||||||||
3,000,000 | Albany, NY IDA (St. Peter’s Hospital)1 | 5.750 | 11/15/2022 | 11/15/2017 | A | 3,232,110 | ||||||||||||||
90,000 | Allegany County, NY IDA (Alfred University)1 | 5.000 | 08/01/2028 | 02/01/2012 | A | 90,047 | ||||||||||||||
10,000 | Amherst, NY IDA (Beechwood Health Care Center)1 | 4.875 | 01/01/2013 | 01/15/2012 | A | 10,027 | ||||||||||||||
490,000 | Amherst, NY IDA (Faculty-Student Assoc. of SUNY at Buffalo)1 | 5.750 | 04/01/2016 | 04/01/2012 | A | 493,842 | ||||||||||||||
720,000 | Amherst, NY IDA (Faculty-Student Assoc. of SUNY at Buffalo)1 | 5.750 | 04/01/2017 | 04/01/2012 | A | 725,314 | ||||||||||||||
100,000 | Amherst, NY IDA (UBF Faculty-Student Hsg. Corp.)1 | 5.125 | 08/01/2020 | 08/01/2012 | A | 102,108 | ||||||||||||||
810,000 | Bethlehem, NY Water System1 | 5.250 | 03/01/2018 | 03/01/2013 | A | 835,952 | ||||||||||||||
905,000 | Bethlehem, NY Water System1 | 5.375 | 03/01/2020 | 03/01/2013 | A | 930,367 | ||||||||||||||
500,000 | Bethlehem, NY Water System1 | 5.500 | 03/01/2022 | 03/01/2013 | A | 512,080 | ||||||||||||||
245,000 | Brookhaven, NY IDA (Alternatives for Children)1 | 7.000 | 02/01/2013 | 08/05/2012 | B | 247,416 | ||||||||||||||
220,000 | Brookhaven, NY IDA (Dowling College)1 | 6.500 | 11/01/2012 | 11/01/2012 | 221,861 | |||||||||||||||
650,000 | Brookhaven, NY IDA (Enecon Corp.)1 | 5.800 | 11/01/2018 | 01/19/2016 | B | 636,513 | ||||||||||||||
2,325,000 | Brooklyn, NY Local Devel. Corp. (Barclays Center Arena)1 | 5.750 | 07/15/2017 | 07/15/2017 | 2,593,840 | |||||||||||||||
1,400,000 | Brooklyn, NY Local Devel. Corp. (Barclays Center Arena)1 | 5.750 | 07/15/2018 | 07/15/2018 | 1,571,430 | |||||||||||||||
1,355,000 | Brooklyn, NY Local Devel. Corp. (Barclays Center Arena)1 | 5.750 | 07/15/2019 | 07/15/2019 | 1,520,215 | |||||||||||||||
1,500,000 | Brooklyn, NY Local Devel. Corp. (Barclays Center Arena)1 | 5.750 | 07/15/2020 | 01/15/2020 | A | 1,617,435 | ||||||||||||||
1,550,000 | Broome County, NY COP | 5.250 | 04/01/2022 | 01/31/2012 | A | 1,555,255 |
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 1,350,000 | Buffalo & Erie County, NY Industrial Land Devel. (Buffalo State College Foundation Hsg. Corp.)1 | 5.750 | % | 10/01/2026 | 04/01/2021 | A | $ | 1,559,939 | |||||||||||
515,000 | Bushnell Basin, NY Fire Assoc. (Volunteer Fire Dept.)1 | 5.250 | 11/01/2015 | 02/20/2014 | B | 507,162 | ||||||||||||||
50,000 | Cattaraugus County, NY IDA (St. Bonaventure University)1 | 5.000 | 09/15/2013 | 01/31/2012 | A | 50,095 | ||||||||||||||
500,000 | Cattaraugus County, NY IDA (St. Bonaventure University)1 | 5.000 | 05/01/2023 | 05/01/2016 | A | 503,450 | ||||||||||||||
3,240,000 | Cayuga County, NY COP (Auburn Memorial Hospital)1 | 6.000 | 01/01/2021 | 01/29/2012 | A | 3,242,722 | ||||||||||||||
260,000 | Chautauqua County, NY Tobacco Asset Securitization Corp.1 | 6.000 | 07/01/2012 | 07/01/2012 | 260,018 | |||||||||||||||
1,075,000 | Chautauqua County, NY Tobacco Asset Securitization Corp.1 | 6.250 | 07/01/2016 | 01/11/2015 | B | 1,074,377 | ||||||||||||||
3,805,000 | Chautauqua County, NY Tobacco Asset Securitization Corp.1 | 6.500 | 07/01/2024 | 07/01/2012 | A | 3,808,501 | ||||||||||||||
18,160,000 | Chautauqua County, NY Tobacco Asset Securitization Corp.1 | 6.750 | 07/01/2040 | 05/29/2034 | B | 16,715,735 | ||||||||||||||
2,355,000 | Clarence, NY IDA (Bristol Village)1 | 6.000 | 01/20/2044 | 01/17/2013 | A | 2,431,302 | ||||||||||||||
10,000 | Cornwall on Hudson, NY1 | 5.000 | 07/15/2015 | 07/15/2012 | A | 10,199 | ||||||||||||||
4,475,000 | Cortland County, NY IDA (Cortland Memorial Hospital)1 | 5.625 | 07/01/2024 | 07/01/2013 | A | 4,478,625 | ||||||||||||||
10,000 | Deerfield, NY GO1 | 5.250 | 06/15/2012 | 06/15/2012 | 10,148 | |||||||||||||||
10,000 | Deerfield, NY GO1 | 5.250 | 06/15/2013 | 06/15/2013 | 10,446 | |||||||||||||||
10,000 | Deerfield, NY GO1 | 5.500 | 06/15/2014 | 06/15/2014 | 10,743 | |||||||||||||||
10,000 | Deerfield, NY GO1 | 5.500 | 06/15/2015 | 06/15/2015 | 10,974 | |||||||||||||||
10,000 | Deerfield, NY GO1 | 5.500 | 06/15/2016 | 06/15/2016 | 11,161 | |||||||||||||||
10,000 | Deerfield, NY GO1 | 5.500 | 06/15/2017 | 06/15/2016 | A | 11,104 | ||||||||||||||
10,000 | Deerfield, NY GO1 | 5.500 | 06/15/2018 | 06/15/2016 | A | 11,028 | ||||||||||||||
15,000 | Deerfield, NY GO1 | 5.500 | 06/15/2019 | 06/15/2016 | A | 16,385 | ||||||||||||||
15,000 | Deerfield, NY GO1 | 5.500 | 06/15/2020 | 06/15/2016 | A | 16,264 | ||||||||||||||
5,205,000 | Dutchess County, NY IDA (Marist College)1 | 5.150 | 07/01/2017 | 07/01/2012 | A | 5,341,892 | ||||||||||||||
2,500,000 | East Rochester, NY Hsg. Authority (St. John’s Health Care)1 | 5.000 | 04/20/2027 | 10/20/2020 | A | 2,774,950 | ||||||||||||||
2,690,000 | East Rochester, NY Hsg. Authority (Woodland Village)1 | 5.150 | 08/01/2016 | 09/05/2014 | B | 2,667,162 | ||||||||||||||
180,000 | East Syracuse, NY Hsg. Authority (Bennett Manor Associates)1 | 6.700 | 04/01/2021 | 04/01/2012 | A | 181,274 | ||||||||||||||
58,670,000 | Erie County, NY IDA (Buffalo City School District)1 | 5.625 | 05/01/2028 | 05/01/2014 | A | 61,339,485 | ||||||||||||||
85,000 | Erie County, NY IDA (Buffalo City School District)1 | 5.750 | 05/01/2024 | 05/01/2014 | A | 92,172 |
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 1,550,000 | Erie County, NY IDA (Buffalo City School District)1 | 5.750 | % | 05/01/2025 | 05/01/2014 | A | $ | 1,680,789 | |||||||||||
6,500,000 | Erie County, NY IDA (Buffalo City School District)1 | 5.750 | 05/01/2026 | 05/01/2014 | A | 6,917,040 | ||||||||||||||
585,000 | Erie County, NY IDA (Medaille College)1 | 6.875 | 10/01/2013 | 01/07/2013 | B | 608,511 | ||||||||||||||
385,000 | Erie County, NY Public Improvement District1 | 5.250 | 03/15/2020 | 03/15/2013 | A | 402,733 | ||||||||||||||
29,615,000 | Erie County, NY Tobacco Asset Securitization Corp.1 | 5.000 | 06/01/2031 | 02/06/2023 | B | 23,257,548 | ||||||||||||||
9,750,000 | Erie County, NY Tobacco Asset Securitization Corp.1 | 5.000 | 06/01/2038 | 04/20/2028 | B | 7,198,133 | ||||||||||||||
250,000 | Essex County, NY IDA (International Paper Company)1 | 6.450 | 11/15/2023 | 01/31/2012 | A | 250,283 | ||||||||||||||
690,000 | Essex County, NY IDA (North Country Community College Foundation)1 | 4.600 | 06/01/2015 | 06/01/2015 | 745,504 | |||||||||||||||
540,000 | Franklin County, NY IDA (North Country Community College Foundation)1 | 4.600 | 06/01/2015 | 06/01/2015 | 583,438 | |||||||||||||||
750,000 | Glen Cove, NY GO1 | 6.250 | 04/01/2024 | 04/01/2016 | A | 809,678 | ||||||||||||||
905,000 | Glen Cove, NY GO1 | 6.250 | 04/01/2025 | 04/01/2016 | A | 967,771 | ||||||||||||||
1,105,000 | Glen Cove, NY GO1 | 6.250 | 04/01/2026 | 04/01/2016 | A | 1,177,234 | ||||||||||||||
50,000 | Gloversville, NY GO1 | 5.800 | 03/15/2015 | 03/15/2012 | A | 50,539 | ||||||||||||||
380,000 | Hamilton County, NY IDA (Adirondack Historical Assoc.)1 | 5.250 | 11/01/2018 | 01/31/2012 | A | 380,779 | ||||||||||||||
75,000 | Hempstead Village, NY GO1 | 5.000 | 09/15/2017 | 09/15/2016 | A | 84,607 | ||||||||||||||
500,000 | Hempstead Village, NY GO1 | 5.000 | 07/01/2018 | 07/01/2014 | A | 533,280 | ||||||||||||||
75,000 | Hempstead Village, NY GO1 | 5.000 | 09/15/2018 | 09/15/2016 | A | 84,067 | ||||||||||||||
1,195,000 | Hempstead Village, NY GO1 | 5.000 | 07/01/2019 | 07/01/2014 | A | 1,265,995 | ||||||||||||||
75,000 | Hempstead Village, NY GO1 | 5.000 | 09/15/2019 | 09/15/2016 | A | 83,038 | ||||||||||||||
75,000 | Hempstead Village, NY GO1 | 5.000 | 09/15/2020 | 09/15/2016 | A | 82,242 | ||||||||||||||
75,000 | Hempstead Village, NY GO1 | 5.000 | 09/15/2021 | 09/15/2016 | A | 81,575 | ||||||||||||||
75,000 | Hempstead Village, NY GO1 | 5.000 | 09/15/2022 | 09/15/2016 | A | 80,918 | ||||||||||||||
75,000 | Hempstead Village, NY GO1 | 5.000 | 09/15/2023 | 09/15/2016 | A | 80,187 | ||||||||||||||
1,700,000 | Hempstead, NY IDA (Adelphi University)1 | 5.750 | 06/01/2022 | 06/01/2012 | A | 1,739,253 | ||||||||||||||
2,070,000 | Hempstead, NY IDA (Lynbrook Facilities)1 | 6.000 | 11/01/2017 | 04/04/2015 | B | 1,869,355 | ||||||||||||||
560,000 | Hempstead, NY IDA (Peninsula Counseling Center)1 | 5.750 | 11/01/2018 | 02/01/2016 | B | 530,790 | ||||||||||||||
60,000 | Herkimer County, NY GO1 | 5.000 | 09/15/2012 | 03/15/2012 | A | 61,576 | ||||||||||||||
40,000 | Herkimer County, NY GO1 | 5.000 | 09/15/2012 | 03/15/2012 | A | 40,386 | ||||||||||||||
20,000 | Hudson Falls, NY Central School District1 | 4.750 | 06/15/2019 | 06/15/2019 | 22,614 | |||||||||||||||
2,155,000 | Islip, NY IDA (United Cerebral Palsy Assoc.)1 | 5.500 | 12/01/2016 | 10/13/2014 | B | 2,065,287 | ||||||||||||||
250,000 | Islip, NY IDA (United Cerebral Palsy Assoc.)1 | 5.500 | 12/01/2016 | 10/22/2014 | B | 239,593 | ||||||||||||||
2,990,000 | Islip, NY Res Rec, Series E1 | 5.625 | 07/01/2017 | 07/01/2014 | A | 3,267,502 | ||||||||||||||
1,175,000 | Islip, NY Res Rec, Series E1 | 5.750 | 07/01/2019 | 07/01/2014 | A | 1,273,524 |
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 1,100,000 | Islip, NY Res Rec, Series E1 | 5.750 | % | 07/01/2020 | 07/01/2014 | A | $ | 1,185,393 | |||||||||||
1,315,000 | Islip, NY Res Rec, Series E1 | 5.750 | 07/01/2021 | 07/01/2014 | A | 1,407,510 | ||||||||||||||
1,000,000 | Islip, NY Res Rec, Series E1 | 5.750 | 07/01/2023 | 07/01/2014 | A | 1,060,900 | ||||||||||||||
250,000 | Jamestown, NY GO1 | 5.000 | 08/01/2024 | 08/01/2014 | A | 261,888 | ||||||||||||||
250,000 | Jamestown, NY GO1 | 5.000 | 08/01/2025 | 08/01/2014 | A | 260,983 | ||||||||||||||
10,000,000 | L.I., NY Power Authority, Series A1 | 5.000 | 12/01/2026 | 06/01/2016 | A | 11,162,100 | ||||||||||||||
220,000 | L.I., NY Power Authority, Series A1 | 5.000 | 09/01/2027 | 01/31/2012 | A | 220,385 | ||||||||||||||
1,030,000 | L.I., NY Power Authority, Series A1 | 5.100 | 09/01/2029 | 09/01/2014 | A | 1,092,892 | ||||||||||||||
4,875,000 | L.I., NY Power Authority, Series A1 | 5.125 | 09/01/2029 | 01/31/2012 | A | 4,888,358 | ||||||||||||||
250,000 | L.I., NY Power Authority, Series A1 | 5.500 | 04/01/2024 | 04/01/2019 | A | 288,955 | ||||||||||||||
480,000 | L.I., NY Power Authority, Series A1 | 6.250 | 04/01/2033 | 04/01/2019 | A | 560,698 | ||||||||||||||
2,210,000 | Livingston County, NY IDA (Nicholas H. Noyes Memorial Hospital)1 | 5.875 | 07/01/2022 | 05/25/2019 | B | 2,167,988 | ||||||||||||||
1,010,000 | Livingston County, NY IDA (Nicholas H. Noyes Memorial Hospital)1 | 6.000 | 07/01/2030 | 04/22/2027 | B | 944,774 | ||||||||||||||
70,000 | Livonia, NY GO1 | 5.000 | 06/15/2020 | 06/15/2017 | A | 78,448 | ||||||||||||||
75,000 | Livonia, NY GO1 | 5.000 | 06/15/2021 | 06/15/2017 | A | 83,414 | ||||||||||||||
80,000 | Livonia, NY GO1 | 5.000 | 06/15/2022 | 06/15/2017 | A | 87,869 | ||||||||||||||
85,000 | Livonia, NY GO1 | 5.000 | 06/15/2023 | 06/15/2017 | A | 92,566 | ||||||||||||||
90,000 | Livonia, NY GO1 | 5.000 | 06/15/2024 | 06/15/2017 | A | 97,341 | ||||||||||||||
75,000 | Livonia, NY GO1 | 5.000 | 06/15/2025 | 06/15/2017 | A | 80,487 | ||||||||||||||
35,000 | Lyncourt, NY Fire District1 | 6.000 | 10/15/2016 | 04/15/2012 | A | 35,418 | ||||||||||||||
2,000,000 | Lyons, NY Community Health Initiatives Corp.1 | 5.550 | 09/01/2024 | 09/01/2014 | A | 2,177,440 | ||||||||||||||
195,000 | Madison County, NY IDA (Morrisville State College Foundation)1 | 5.000 | 06/01/2015 | 12/21/2013 | B | 196,913 | ||||||||||||||
2,065,000 | Madison County, NY IDA (Morrisville State College Foundation)1 | 5.000 | 06/01/2022 | 06/01/2016 | A | 2,112,536 | ||||||||||||||
1,930,000 | Madison County, NY IDA (Oneida Healthcare Center)1 | 5.500 | 02/01/2016 | 02/01/2012 | A | 1,951,442 | ||||||||||||||
60,000 | Monroe County, NY Airport Authority (Greater Rochester International)1 | 5.750 | 01/01/2012 | 01/01/2012 | 60,007 | |||||||||||||||
5,000 | Monroe County, NY GO1 | 5.000 | 06/01/2017 | 01/31/2012 | A | 5,013 | ||||||||||||||
105,000 | Monroe County, NY GO | 5.350 | 03/01/2012 | 01/31/2012 | A | 105,423 | ||||||||||||||
25,000 | Monroe County, NY GO1 | 5.750 | 06/01/2015 | 01/31/2012 | A | 25,087 | ||||||||||||||
410,000 | Monroe County, NY IDA (Canal Ponds)1 | 7.000 | 06/15/2013 | 06/15/2012 | A | 421,841 | ||||||||||||||
580,000 | Monroe County, NY IDA (Highland Hospital of Rochester)1 | 5.000 | 08/01/2012 | 08/01/2012 | 592,076 | |||||||||||||||
1,375,000 | Monroe County, NY IDA (Nazareth College of Rochester)1 | 5.250 | 10/01/2021 | 01/31/2012 | A | 1,391,431 | ||||||||||||||
705,000 | Monroe County, NY IDA (Southview Towers)1 | 6.125 | 02/01/2020 | 02/01/2012 | A | 706,847 | ||||||||||||||
70,000 | Monroe County, NY IDA (St. John Fisher College)1 | 5.200 | 06/01/2019 | 06/01/2012 | A | 71,098 |
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 205,000 | Monroe County, NY IDA (Summit at Brighton)1 | 5.000 | % | 07/01/2016 | 08/04/2014 | B | $ | 180,078 | |||||||||||
915,000 | Monroe County, NY IDA (West End Business Center)1 | 5.125 | 12/01/2014 | 12/17/2013 | B | 894,092 | ||||||||||||||
9,000,000 | Monroe County, NY Industrial Devel. Corp. (Unity Hospital Rochester)1 | 5.500 | 08/15/2023 | 07/20/2015 | A | 9,791,280 | ||||||||||||||
17,500,000 | Monroe County, NY Industrial Devel. Corp. (Unity Hospital Rochester)1 | 5.750 | 08/15/2030 | 02/15/2021 | A | 20,694,800 | ||||||||||||||
80,000 | Monroe, NY Newpower Corp.1 | 4.700 | 01/01/2012 | 01/01/2012 | 80,002 | |||||||||||||||
410,000 | Monroe, NY Newpower Corp.1 | 4.800 | 01/01/2013 | 10/02/2012 | B | 415,539 | ||||||||||||||
7,800,000 | Monroe, NY Newpower Corp.1 | 6.375 | 01/01/2024 | 07/01/2012 | A | 7,838,532 | ||||||||||||||
280,000 | Mount Vernon, NY IDA (Kings Court)1 | 5.125 | 12/01/2023 | 12/01/2013 | A | 287,179 | ||||||||||||||
975,000 | Mount Vernon, NY IDA (Macedonia Towers)1 | 5.125 | 12/01/2023 | 12/01/2013 | A | 996,372 | ||||||||||||||
300,000 | Nassau County, NY IDA (ACDS)1 | 5.950 | 11/01/2022 | 11/01/2022 | 278,652 | |||||||||||||||
440,000 | Nassau County, NY IDA (ACDS)1 | 6.000 | 12/01/2019 | 09/21/2016 | B | 422,162 | ||||||||||||||
280,000 | Nassau County, NY IDA (ALIA-ACDS)1 | 7.000 | 11/01/2016 | 08/28/2013 | A | 282,842 | ||||||||||||||
410,000 | Nassau County, NY IDA (ALIA-CMA)1 | 7.000 | 11/01/2016 | 08/31/2013 | A | 414,162 | ||||||||||||||
320,000 | Nassau County, NY IDA (ALIA-CRR)1 | 7.000 | 11/01/2016 | 08/30/2013 | A | 323,248 | ||||||||||||||
70,000 | Nassau County, NY IDA (ALIA-FREE)1 | 7.000 | 11/01/2016 | 09/10/2013 | A | 70,711 | ||||||||||||||
290,000 | Nassau County, NY IDA (ALIA-HKSB)1 | 7.000 | 11/01/2016 | 08/30/2013 | A | 292,944 | ||||||||||||||
1,700,000 | Nassau County, NY IDA (CSMR)1 | 5.950 | 11/01/2022 | 11/01/2022 | 1,579,028 | |||||||||||||||
1,170,000 | Nassau County, NY IDA (CSMR)1 | 6.000 | 12/01/2019 | 09/19/2016 | B | 1,122,568 | ||||||||||||||
200,000 | Nassau County, NY IDA (Epilepsy Foundation of L.I.)1 | 5.950 | 11/01/2022 | 11/01/2022 | 185,768 | |||||||||||||||
525,000 | Nassau County, NY IDA (Epilepsy Foundation of L.I.)1 | 6.000 | 12/01/2019 | 09/15/2016 | B | 506,940 | ||||||||||||||
225,000 | Nassau County, NY IDA (Hispanic Counseling Center)1 | 6.000 | 11/01/2017 | 11/01/2017 | 218,318 | |||||||||||||||
145,000 | Nassau County, NY IDA (Hofstra University)1 | 5.000 | 07/01/2023 | 01/20/2012 | A | 145,386 | ||||||||||||||
13,250,000 | Nassau County, NY IDA (Keyspan-Glenwood Energy Center)1 | 5.250 | 06/01/2027 | 06/01/2013 | A | 13,493,270 | ||||||||||||||
200,000 | Nassau County, NY IDA (Life’s WORCA)1 | 5.950 | 11/01/2022 | 11/01/2022 | 185,768 | |||||||||||||||
500,000 | Nassau County, NY IDA (New York Institute of Technology)1 | 5.000 | 03/01/2021 | 03/01/2020 | A | 566,575 | ||||||||||||||
500,000 | Nassau County, NY IDA (PLUS Group Home)1 | 6.150 | 11/01/2022 | 11/01/2022 | 471,935 | |||||||||||||||
90,000 | Nassau County, NY IDA (United Veteran’s Beacon House)1 | 6.000 | 11/01/2017 | 11/01/2017 | 87,327 | |||||||||||||||
360,000 | Nassau County, NY IDA (WORCA)1 | 6.000 | 12/01/2019 | 09/16/2016 | B | 345,308 | ||||||||||||||
80,000 | Nassau County, NY IDA, Series C1 | 6.000 | 12/01/2019 | 10/25/2016 | B | 76,735 | ||||||||||||||
21,000,000 | Nassau County, NY Tobacco Settlement Corp.1 | 5.250 | 06/01/2026 | 04/13/2024 | B | 18,755,940 | ||||||||||||||
60,000 | Nassau, NY IDA (EBS North Hills LLC)1 | 7.000 | 11/01/2013 | 09/17/2012 | A | 63,967 | ||||||||||||||
65,000 | Nassau, NY IDA (EBS North Hills LLC)1 | 7.000 | 11/01/2013 | 09/20/2012 | C | 69,323 |
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 65,000 | Nassau, NY IDA (EBS North Hills LLC)1 | 7.000 | % | 11/01/2013 | 09/20/2012 | C | $ | 69,323 | |||||||||||
100,000 | Nassau, NY IDA (EBS North Hills LLC)1 | 7.000 | 11/01/2013 | 09/17/2012 | A | 106,611 | ||||||||||||||
13,010,000 | New Rochelle, NY IDA (College of New Rochelle)1 | 5.250 | 07/01/2027 | 07/01/2012 | A | 13,073,099 | ||||||||||||||
5,655,000 | New Rochelle, NY IDA (College of New Rochelle)1 | 5.500 | 07/01/2019 | 07/01/2012 | A | 5,725,009 | ||||||||||||||
1,005,000 | Newburgh, NY IDA (Bourne & Kenney Redevel. Company)1 | 5.650 | 08/01/2020 | 02/01/2012 | A | 1,007,904 | ||||||||||||||
2,535,000 | Newburgh, NY IDA (Bourne & Kenney Redevel. Company)1 | 5.750 | 02/01/2032 | 02/01/2012 | A | 2,537,408 | ||||||||||||||
150,000 | Niagara County, NY IDA (American Ref-Fuel Company)1 | 5.550 | 11/15/2024 | 01/31/2012 | A | 151,670 | ||||||||||||||
1,000,000 | Niagara County, NY IDA (Niagara Falls Memorial Medical Center) | 5.750 | 06/01/2018 | 08/22/2015 | B | 988,920 | ||||||||||||||
5,400,000 | Niagara County, NY IDA (Niagara University)1 | 5.400 | 11/01/2031 | 11/01/2012 | A | 5,424,570 | ||||||||||||||
7,750,000 | Niagara County, NY IDA (Solid Waste Disposal)1 | 5.450 | 11/15/2026 | 01/31/2012 | A | 7,836,955 | ||||||||||||||
9,535,000 | Niagara County, NY IDA (Solid Waste Disposal)1 | 5.550 | 11/15/2024 | 11/15/2012 | A | 9,636,929 | ||||||||||||||
12,450,000 | Niagara County, NY IDA (Solid Waste Disposal)1 | 5.625 | 11/15/2024 | 01/31/2012 | A | 12,589,565 | ||||||||||||||
90,000 | Niagara County, NY Tobacco Asset Securitization Corp.1 | 5.500 | 05/15/2020 | 05/15/2012 | B | 87,035 | ||||||||||||||
1,175,000 | Niagara County, NY Tobacco Asset Securitization Corp.1 | 5.875 | 05/15/2022 | 05/15/2015 | B | 1,154,355 | ||||||||||||||
1,105,000 | Niagara County, NY Tobacco Asset Securitization Corp.1 | 6.250 | 05/15/2034 | 01/12/2027 | B | 1,022,434 | ||||||||||||||
945,000 | Niagara County, NY Tobacco Asset Securitization Corp.1 | 6.250 | 05/15/2040 | 01/27/2031 | B | 856,416 | ||||||||||||||
11,995,000 | Niagara County, NY Tobacco Asset Securitization Corp. | 6.750 | 05/15/2029 | 05/15/2012 | A | 11,993,561 | ||||||||||||||
20,000 | Niagara County, NY Tobacco Asset Securitization Corp. (TASC)1 | 5.750 | 05/15/2021 | 05/15/2013 | B | 19,637 | ||||||||||||||
1,000,000 | Niagara Falls, NY Public Water Authority1 | 5.500 | 07/15/2034 | 07/15/2015 | A | 1,028,260 | ||||||||||||||
75,000 | Niagara, NY Frontier Transportation Authority (Buffalo Niagara International Airport)1 | 5.000 | 04/01/2013 | 01/31/2012 | A | 75,085 | ||||||||||||||
60,000 | Niagara, NY Frontier Transportation Authority (Buffalo Niagara International Airport)1 | 5.500 | 04/01/2016 | 01/31/2012 | A | 60,050 | ||||||||||||||
10,220,000 | Niagara, NY Frontier Transportation Authority (Buffalo Niagara International Airport)1 | 5.625 | 04/01/2029 | 03/13/2025 | B | 10,055,151 | ||||||||||||||
20,000 | Niagara, NY Frontier Transportation Authority (Buffalo Niagara International Airport)1 | 5.750 | 04/01/2012 | 01/31/2012 | A | 20,040 | ||||||||||||||
360,000 | Niagara, NY Frontier Transportation Authority (Buffalo Niagara International Airport)1 | 5.750 | 04/01/2019 | 01/31/2012 | A | 360,184 |
25 | LIMITED TERM NEW YORK MUNICIPAL FUND
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 75,000 | Niagara, NY Frontier Transportation Authority International Airport1 | 5.000 | % | 04/01/2018 | 01/31/2012 | A | $ | 75,003 | |||||||||||
1,070,000 | North Babylon, NY Volunteer Fire Company1 | 5.750 | 08/01/2022 | 02/01/2012 | A | 1,071,027 | ||||||||||||||
735,000 | NY Capital District Youth Center1 | 6.000 | 02/01/2017 | 02/01/2012 | A | 737,690 | ||||||||||||||
65,000 | NY Counties Tobacco Trust I1 | 5.875 | 06/01/2014 | 06/01/2014 | 64,693 | |||||||||||||||
4,670,000 | NY Counties Tobacco Trust I1 | 6.300 | 06/01/2019 | 05/31/2012 | A | 4,669,720 | ||||||||||||||
4,360,000 | NY Counties Tobacco Trust I1 | 6.500 | 06/01/2035 | 12/09/2018 | B | 4,131,972 | ||||||||||||||
3,295,000 | NY Counties Tobacco Trust I1 | 6.625 | 06/01/2042 | 12/25/2023 | B | 3,128,141 | ||||||||||||||
12,615,000 | NY Counties Tobacco Trust II (TASC)1 | 5.250 | 06/01/2025 | 08/08/2012 | B | 11,592,554 | ||||||||||||||
865,000 | NY Counties Tobacco Trust II (TASC)1 | 5.625 | 06/01/2035 | 09/29/2020 | B | 701,429 | ||||||||||||||
1,055,000 | NY Counties Tobacco Trust II (TASC)1 | 5.750 | 06/01/2013 | 06/01/2013 | 1,051,603 | |||||||||||||||
1,925,000 | NY Counties Tobacco Trust II (TASC)1 | 5.750 | 06/01/2014 | 06/01/2014 | 1,910,120 | |||||||||||||||
800,000 | NY Counties Tobacco Trust II (TASC)1 | 5.750 | 06/01/2043 | 02/28/2027 | B | 618,120 | ||||||||||||||
2,120,000 | NY Counties Tobacco Trust II (TASC)1 | 6.000 | 06/01/2015 | 06/01/2015 | 2,109,167 | |||||||||||||||
2,330,000 | NY Counties Tobacco Trust II (TASC)1 | 6.000 | 06/01/2016 | 06/01/2016 | 2,306,257 | |||||||||||||||
1,115,000 | NY Counties Tobacco Trust III1 | 5.000 | 06/01/2027 | 06/01/2027 | 1,099,056 | |||||||||||||||
8,480,000 | NY Counties Tobacco Trust III1 | 5.750 | 06/01/2033 | 02/18/2013 | B | 8,132,150 | ||||||||||||||
18,575,000 | NY Counties Tobacco Trust III1 | 6.000 | 06/01/2043 | 04/04/2017 | B | 16,162,665 | ||||||||||||||
2,835,000 | NY Counties Tobacco Trust IV1 | 4.250 | 06/01/2021 | 01/15/2013 | B | 2,734,925 | ||||||||||||||
4,520,000 | NY Counties Tobacco Trust IV (TASC)1 | 4.750 | 06/01/2026 | 08/18/2018 | B | 3,989,578 | ||||||||||||||
38,400,000 | NY Counties Tobacco Trust IV (TASC)1 | 6.250 | 06/01/2041 | 06/01/2020 | A | 38,489,856 | ||||||||||||||
500,000 | NY Grand Central BID (Grand Central District Management)1 | 5.000 | 01/01/2022 | 01/01/2014 | A | 531,490 | ||||||||||||||
85,000 | NY MTA Commuter Facilities (Grand Central Terminal) | 5.500 | 07/01/2012 | 01/31/2012 | A | 85,332 | ||||||||||||||
25,000 | NY MTA Commuter Facilities, Series 71 | 5.625 | 07/01/2016 | 01/31/2012 | A | 26,116 | ||||||||||||||
5,000 | NY MTA Commuter Facilities, Series B1 | 5.000 | 07/01/2017 | 01/31/2012 | A | 5,228 | ||||||||||||||
50,000 | NY MTA Commuter Facilities, Series B1 | 5.125 | 07/01/2024 | 01/31/2012 | A | 52,358 | ||||||||||||||
5,000 | NY MTA Commuter Facilities, Series D1 | 5.000 | 07/01/2016 | 01/31/2012 | A | 5,225 | ||||||||||||||
23,545,000 | NY MTA Service Contract, Series A1 | 5.125 | 01/01/2029 | 07/01/2012 | A | 23,958,450 | ||||||||||||||
35,480,000 | NY MTA Service Contract, Series A1 | 5.750 | 07/01/2031 | 07/01/2012 | A | 36,189,955 | ||||||||||||||
33,290,000 | NY MTA Service Contract, Series B1 | 5.250 | 01/01/2031 | 07/01/2012 | A | 33,864,918 | ||||||||||||||
300,000 | NY MTA, Series 2008C1 | 6.250 | 11/15/2023 | 11/15/2018 | A | 362,910 | ||||||||||||||
2,000,000 | NY MTA, Series A1 | 5.000 | 07/01/2025 | 07/01/2012 | A | 2,035,480 | ||||||||||||||
53,915,000 | NY MTA, Series A1 | 5.000 | 11/15/2025 | 11/15/2012 | A | 55,475,839 | ||||||||||||||
10,785,000 | NY MTA, Series A1 | 5.000 | 11/15/2026 | 05/15/2016 | A | 12,048,247 | ||||||||||||||
270,000 | NY MTA, Series A1 | 5.000 | 11/15/2030 | 11/15/2012 | A | 278,251 | ||||||||||||||
8,605,000 | NY MTA, Series A1 | 5.000 | 11/15/2030 | 11/15/2012 | A | 8,834,409 | ||||||||||||||
4,180,000 | NY MTA, Series A1 | 5.125 | 11/15/2021 | 11/15/2012 | A | 4,307,448 | ||||||||||||||
24,320,000 | NY MTA, Series A1 | 5.125 | 11/15/2031 | 11/15/2012 | A | 24,994,637 | ||||||||||||||
34,000,000 | NY MTA, Series A1 | 5.250 | 01/01/2023 | 07/01/2012 | A | 34,663,000 |
26 | LIMITED TERM NEW YORK MUNICIPAL FUND
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 300,000 | NY MTA, Series A1 | 5.250 | % | 11/15/2024 | 11/15/2012 | A | $ | 310,320 | |||||||||||
12,475,000 | NY MTA, Series A1 | 5.250 | 11/15/2029 | 05/15/2016 | A | 14,056,206 | ||||||||||||||
10,825,000 | NY MTA, Series A1 | 5.250 | 11/15/2031 | 11/15/2012 | A | 11,138,925 | ||||||||||||||
1,150,000 | NY MTA, Series A1 | 5.500 | 11/15/2019 | 11/15/2012 | A | 1,189,813 | ||||||||||||||
50,000 | NY MTA, Series A | 5.625 | 01/01/2012 | 01/01/2012 | 50,007 | |||||||||||||||
150,000 | NY MTA, Series A1 | 5.750 | 11/15/2032 | 11/15/2012 | A | 155,118 | ||||||||||||||
455,000 | NY MTA, Series A1 | 5.750 | 11/15/2032 | 11/15/2012 | A | 470,525 | ||||||||||||||
13,180,000 | NY MTA, Series A1 | 5.750 | 11/15/2032 | 11/15/2012 | A | 13,676,622 | ||||||||||||||
5,000,000 | NY MTA, Series B1 | 5.000 | 11/15/2025 | 11/15/2015 | A | 5,474,850 | ||||||||||||||
16,500,000 | NY MTA, Series B1 | 5.250 | 11/15/2025 | 11/15/2013 | A | 17,561,940 | ||||||||||||||
6,500,000 | NY MTA, Series B1 | 5.250 | 11/15/2027 | 11/15/2019 | A | 7,307,690 | ||||||||||||||
5,000,000 | NY MTA, Series D1 | 5.000 | 11/15/2031 | 11/15/2021 | A | 5,389,550 | ||||||||||||||
100,000 | NY MTA, Series E1 | 5.250 | 11/15/2031 | 11/15/2012 | A | 102,900 | ||||||||||||||
50,000 | NY MTA, Series E1 | 5.250 | 11/15/2031 | 11/15/2012 | A | 51,441 | ||||||||||||||
50,000 | NY MTA, Series E1 | 5.500 | 11/15/2021 | 11/15/2012 | A | 51,642 | ||||||||||||||
2,205,000 | NY MTA, Series F1 | 5.000 | 11/15/2030 | 11/15/2015 | A | 2,289,341 | ||||||||||||||
8,550,000 | NY MTA, Series F1 | 5.000 | 11/15/2031 | 11/15/2012 | A | 8,781,021 | ||||||||||||||
500,000 | NY MTA, Series F1 | 5.000 | 11/15/2031 | 11/15/2012 | A | 513,510 | ||||||||||||||
35,000 | NY New Hartford-Sunset Wood Funding Corp.1 | 5.950 | 08/01/2027 | 02/01/2012 | A | 35,047 | ||||||||||||||
50,000 | NY Oneida Healthcare Corp. (Oneida Health Systems)1 | 5.300 | 02/01/2021 | 02/01/2012 | A | 50,539 | ||||||||||||||
3,330,000 | NY Oneida Healthcare Corp. (Oneida Health Systems)1 | 5.500 | 02/01/2016 | 02/01/2012 | A | 3,369,294 | ||||||||||||||
10,000,000 | NY Sales Tax Asset Receivable Corp.1 | 5.000 | 10/15/2026 | 10/15/2014 | A | 10,960,400 | ||||||||||||||
4,000,000 | NY Seneca Nation Indians Capital Improvements1 | 5.000 | 12/01/2023 | 11/11/2020 | B | 3,364,800 | ||||||||||||||
10,450,000 | NY Seneca Nation Indians Capital Improvements1 | 5.250 | 12/01/2016 | 06/14/2015 | B | 9,847,349 | ||||||||||||||
500,000 | NY Tobacco Settlement Financing Corp. (TASC)1 | 5.250 | 06/01/2020 | 06/01/2013 | A | 529,760 | ||||||||||||||
2,220,000 | NY Tobacco Settlement Financing Corp. (TASC)1 | 5.250 | 06/01/2021 | 06/01/2013 | A | 2,352,134 | ||||||||||||||
5,530,000 | NY Tobacco Settlement Financing Corp. (TASC)1 | 5.500 | 06/01/2018 | 06/01/2012 | A | 5,627,162 | ||||||||||||||
20,500,000 | NY Tobacco Settlement Financing Corp. (TASC)1 | 5.500 | 06/01/2019 | 06/01/2013 | A | 21,792,320 | ||||||||||||||
11,000,000 | NY Tobacco Settlement Financing Corp. (TASC)1 | 5.500 | 06/01/2020 | 06/01/2013 | A | 11,693,440 | ||||||||||||||
18,395,000 | NY Tobacco Settlement Financing Corp. (TASC)1 | 5.500 | 06/01/2021 | 06/01/2013 | A | 19,554,621 | ||||||||||||||
40,000 | NY Triborough Bridge & Tunnel Authority1 | 5.000 | 01/01/2024 | 01/31/2012 | A | 40,150 | ||||||||||||||
20,000,000 | NY Triborough Bridge & Tunnel Authority1 | 5.000 | 11/15/2025 | 11/15/2012 | A | 20,730,400 | ||||||||||||||
24,890,000 | NY Triborough Bridge & Tunnel Authority1 | 5.000 | 11/15/2026 | 11/15/2012 | A | 25,606,583 | ||||||||||||||
10,000,000 | NY Triborough Bridge & Tunnel Authority1 | 5.250 | 11/15/2023 | 11/15/2012 | A | 10,366,300 | ||||||||||||||
2,720,000 | NY Triborough Bridge & Tunnel Authority1 | 5.250 | 11/15/2030 | 11/15/2013 | A | 2,872,592 | ||||||||||||||
3,000,000 | NY Triborough Bridge & Tunnel Authority, Series B1 | 5.000 | 11/15/2027 | 11/15/2012 | A | 3,086,370 |
27 | LIMITED TERM NEW YORK MUNICIPAL FUND
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 163,480,000 | NY TSASC, Inc. (TFABs)1 | 4.750 | % | 06/01/2022 | 01/21/2015 | B | $ | 158,956,508 | |||||||||||
91,000,000 | NY TSASC, Inc. (TFABs)1 | 5.000 | 06/01/2026 | 06/05/2022 | B | 85,172,360 | ||||||||||||||
14,740,000 | NY TSASC, Inc. (TFABs)1 | 5.000 | 06/01/2034 | 06/26/2028 | B | 11,393,873 | ||||||||||||||
165,000 | NY Valley Health Devel. Corp.1 | 6.750 | 05/20/2022 | 05/20/2012 | A | 172,011 | ||||||||||||||
10,000,000 | NYC Capital Resources Corp. (Albee Retail Devel.)1 | 7.250 | 11/01/2042 | 05/01/2012 | A | 10,000,700 | ||||||||||||||
25,000,000 | NYC GO1 | 4.900 | 2 | 12/15/2028 | 12/15/2013 | A | 26,402,500 | |||||||||||||
40,000,000 | NYC GO1 | 4.950 | 2 | 12/15/2033 | 12/15/2013 | A | 41,927,200 | |||||||||||||
5,000 | NYC GO | 5.000 | 08/01/2015 | 02/01/2012 | A | 5,018 | ||||||||||||||
425,000 | NYC GO1 | 5.000 | 08/01/2020 | 08/01/2014 | A | 463,981 | ||||||||||||||
5,000 | NYC GO1 | 5.000 | 08/01/2022 | 02/01/2012 | A | 5,016 | ||||||||||||||
500,000 | NYC GO1 | 5.000 | 08/01/2022 | 08/01/2015 | A | 557,550 | ||||||||||||||
40,000 | NYC GO1 | 5.000 | 09/15/2022 | 09/15/2013 | A | 42,432 | ||||||||||||||
29,000,000 | NYC GO3 | 5.000 | 06/01/2023 | 06/01/2015 | A | 32,011,070 | ||||||||||||||
8,065,000 | NYC GO1 | 5.000 | 08/01/2023 | 08/01/2019 | A | 9,365,562 | ||||||||||||||
615,000 | NYC GO1 | 5.000 | 08/01/2023 | 08/01/2015 | A | 681,728 | ||||||||||||||
10,000,000 | NYC GO3 | 5.000 | 08/15/2023 | 11/14/2019 | A | 10,926,363 | ||||||||||||||
4,945,000 | NYC GO1 | 5.000 | 09/01/2023 | 09/01/2015 | A | 5,492,807 | ||||||||||||||
11,340,000 | NYC GO3 | 5.000 | 12/01/2023 | 10/04/2020 | A | 12,505,412 | ||||||||||||||
21,015,000 | NYC GO1 | 5.000 | 08/01/2024 | 08/01/2016 | A | 23,952,267 | ||||||||||||||
2,000,000 | NYC GO1 | 5.000 | 08/01/2024 | 02/01/2016 | A | 2,249,740 | ||||||||||||||
3,650,000 | NYC GO1 | 5.000 | 12/01/2024 | 12/01/2014 | A | 4,025,111 | ||||||||||||||
10,000,000 | NYC GO1 | 5.000 | 11/01/2025 | 11/01/2014 | A | 10,998,900 | ||||||||||||||
19,505,000 | NYC GO1 | 5.000 | 08/01/2028 | 08/01/2019 | A | 21,651,525 | ||||||||||||||
1,000,000 | NYC GO1 | 5.000 | 10/15/2029 | 10/15/2013 | A | 1,045,220 | ||||||||||||||
10,000,000 | NYC GO3 | 5.000 | 04/01/2030 | 08/19/2026 | A | 10,801,158 | ||||||||||||||
1,000,000 | NYC GO1 | 5.000 | 08/01/2030 | 08/01/2015 | A | 1,086,940 | ||||||||||||||
35,000 | NYC GO1 | 5.125 | 08/01/2013 | 02/01/2012 | A | 35,136 | ||||||||||||||
5,000 | NYC GO | 5.125 | 08/01/2018 | 02/01/2012 | A | 5,019 | ||||||||||||||
10,000 | NYC GO1 | 5.125 | 08/01/2022 | 02/01/2012 | A | 10,033 | ||||||||||||||
6,500,000 | NYC GO1 | 5.125 | 12/01/2024 | 12/01/2017 | A | 7,504,445 | ||||||||||||||
5,000 | NYC GO1 | 5.125 | 03/15/2025 | 03/15/2012 | A | 5,052 | ||||||||||||||
15,000 | NYC GO1 | 5.125 | 08/01/2025 | 02/01/2012 | A | 15,049 | ||||||||||||||
5,000 | NYC GO1 | 5.125 | 08/01/2025 | 02/01/2012 | A | 5,016 | ||||||||||||||
10,000 | NYC GO1 | 5.125 | 08/01/2025 | 02/01/2012 | A | 10,033 | ||||||||||||||
5,000 | NYC GO1 | 5.250 | 08/01/2012 | 02/01/2012 | A | 5,021 | ||||||||||||||
5,000 | NYC GO | 5.250 | 08/01/2015 | 02/01/2012 | A | 5,020 | ||||||||||||||
10,000 | NYC GO1 | 5.250 | 01/15/2023 | 01/15/2013 | A | 10,522 | ||||||||||||||
15,000 | NYC GO1 | 5.250 | 01/15/2023 | 01/15/2013 | A | 15,599 | ||||||||||||||
5,720,000 | NYC GO1 | 5.250 | 08/15/2024 | 08/15/2014 | A | 6,286,337 | ||||||||||||||
20,000 | NYC GO1 | 5.250 | 06/01/2027 | 06/01/2012 | A | 20,424 |
28 | LIMITED TERM NEW YORK MUNICIPAL FUND
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 120,000 | NYC GO1 | 5.250 | % | 06/01/2027 | 06/01/2012 | A | $ | 122,076 | |||||||||||
40,000 | NYC GO1 | 5.250 | 01/15/2028 | 01/15/2013 | A | 42,089 | ||||||||||||||
180,000 | NYC GO1 | 5.250 | 01/15/2028 | 01/15/2013 | A | 185,420 | ||||||||||||||
9,500,000 | NYC GO1 | 5.250 | 04/01/2028 | 04/01/2019 | A | 10,682,465 | ||||||||||||||
30,000 | NYC GO1 | 5.250 | 01/15/2033 | 01/15/2013 | A | 31,567 | ||||||||||||||
150,000 | NYC GO1 | 5.250 | 01/15/2033 | 01/15/2013 | A | 154,767 | ||||||||||||||
5,000 | NYC GO1 | 5.300 | 08/01/2024 | 02/01/2012 | A | 5,017 | ||||||||||||||
70,000 | NYC GO1 | 5.300 | 01/15/2026 | 01/15/2013 | A | 72,327 | ||||||||||||||
5,000 | NYC GO1 | 5.375 | 08/01/2015 | 02/01/2012 | A | 5,020 | ||||||||||||||
50,000 | NYC GO1 | 5.375 | 03/01/2027 | 03/01/2013 | A | 52,998 | ||||||||||||||
55,000 | NYC GO1 | 5.375 | 08/01/2027 | 02/01/2012 | A | 55,172 | ||||||||||||||
70,000 | NYC GO1 | 5.500 | 08/01/2022 | 02/01/2012 | A | 70,258 | ||||||||||||||
100,000 | NYC GO1 | 5.500 | 08/01/2022 | 02/01/2012 | A | 100,369 | ||||||||||||||
140,000 | NYC GO1 | 5.500 | 06/01/2023 | 06/01/2013 | A | 148,232 | ||||||||||||||
670,000 | NYC GO1 | 5.500 | 06/01/2023 | 06/01/2013 | A | 719,660 | ||||||||||||||
20,000 | NYC GO1 | 5.500 | 02/15/2026 | 01/31/2012 | A | 20,079 | ||||||||||||||
50,000 | NYC GO1 | 5.500 | 02/15/2026 | 01/31/2012 | A | 50,170 | ||||||||||||||
835,000 | NYC GO1 | 5.500 | 06/01/2028 | 06/01/2012 | A | 850,422 | ||||||||||||||
15,000 | NYC GO1 | 5.500 | 06/01/2028 | 06/01/2012 | A | 15,334 | ||||||||||||||
15,000 | NYC GO1 | 5.500 | 11/15/2037 | 01/31/2012 | A | 15,051 | ||||||||||||||
30,000 | NYC GO1 | 5.600 | 12/01/2013 | 06/01/2012 | A | 30,631 | ||||||||||||||
10,000 | NYC GO1 | 5.750 | 05/15/2012 | 01/31/2012 | A | 10,045 | ||||||||||||||
10,000 | NYC GO | 5.750 | 05/15/2012 | 01/31/2012 | A | 10,045 | ||||||||||||||
570,000 | NYC GO1 | 5.750 | 03/01/2018 | 03/01/2013 | A | 606,668 | ||||||||||||||
55,000 | NYC GO1 | 5.750 | 08/01/2018 | 08/01/2012 | A | 56,783 | ||||||||||||||
255,000 | NYC GO1 | 5.750 | 08/01/2018 | 08/01/2012 | A | 262,520 | ||||||||||||||
35,000 | NYC GO1 | 5.750 | 08/01/2018 | 08/01/2012 | A | 36,135 | ||||||||||||||
465,000 | NYC GO1 | 5.750 | 08/01/2018 | 08/01/2012 | A | 477,848 | ||||||||||||||
20,000 | NYC GO1 | 5.875 | 08/01/2015 | 02/01/2012 | A | 20,089 | ||||||||||||||
65,000 | NYC GO1 | 5.875 | 06/01/2019 | 06/01/2012 | A | 66,548 | ||||||||||||||
4,090,000 | NYC GO1 | 5.875 | 06/01/2019 | 06/01/2012 | A | 4,173,150 | ||||||||||||||
85,000 | NYC GO1 | 5.875 | 08/01/2019 | 08/01/2012 | A | 87,818 | ||||||||||||||
5,365,000 | NYC GO1 | 5.875 | 08/01/2019 | 08/01/2012 | A | 5,517,151 | ||||||||||||||
5,000 | NYC GO | 6.000 | 02/01/2012 | 01/31/2012 | A | 5,024 | ||||||||||||||
5,000 | NYC GO | 6.000 | 08/01/2017 | 02/01/2012 | A | 5,023 | ||||||||||||||
5,000 | NYC GO1 | 6.000 | 02/01/2022 | 02/01/2012 | A | 5,021 | ||||||||||||||
35,000 | NYC GO1 | 6.000 | 02/15/2024 | 01/31/2012 | A | 35,146 | ||||||||||||||
590,000 | NYC GO | 6.350 | 05/15/2014 | 01/31/2012 | A | 592,867 | ||||||||||||||
80,000 | NYC GO1 | 7.000 | 02/01/2012 | 02/01/2012 | 80,461 | |||||||||||||||
5,000 | NYC GO | 7.000 | 02/01/2018 | 02/01/2012 | A | 5,027 | ||||||||||||||
45,000 | NYC GO1 | 7.750 | 08/15/2027 | 02/15/2012 | A | 45,344 |
29 | LIMITED TERM NEW YORK MUNICIPAL FUND
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 213,825 | NYC HDC (Bay Towers)1 | 6.500 | % | 08/15/2017 | 01/31/2012 | A | $ | 214,479 | |||||||||||
2,513,691 | NYC HDC (East Midtown Plaza) | 6.500 | 11/15/2018 | 01/31/2012 | A | 2,522,489 | ||||||||||||||
25,102 | NYC HDC (Essex Terrace) | 6.500 | 07/15/2018 | 01/31/2012 | A | 25,190 | ||||||||||||||
191,804 | NYC HDC (Kingsbridge Arms)1 | 6.500 | 08/15/2017 | 01/31/2012 | A | 192,406 | ||||||||||||||
1,500,000 | NYC HDC (Multifamily Hsg.)1 | 5.000 | 11/01/2030 | 05/01/2018 | A | 1,501,920 | ||||||||||||||
565,000 | NYC HDC (Multifamily Hsg.)1 | 5.050 | 11/01/2023 | 11/01/2012 | A | 568,616 | ||||||||||||||
30,000 | NYC HDC (Multifamily Hsg.)1 | 5.100 | 11/01/2018 | 05/01/2018 | A | 31,783 | ||||||||||||||
515,000 | NYC HDC (Multifamily Hsg.)1 | 5.100 | 11/01/2027 | 05/01/2017 | A | 527,957 | ||||||||||||||
260,000 | NYC HDC (Multifamily Hsg.)1 | 5.200 | 11/01/2035 | 05/01/2018 | A | 261,724 | ||||||||||||||
4,785,000 | NYC HDC (Multifamily Hsg.)1 | 5.500 | 11/01/2028 | 05/01/2018 | A | 4,967,931 | ||||||||||||||
200,000 | NYC HDC (Multifamily Hsg.)1 | 6.250 | 11/01/2023 | 11/01/2018 | A | 221,252 | ||||||||||||||
900,000 | NYC HDC (Multifamily Hsg.), Series A1 | 5.375 | 11/01/2023 | 05/01/2012 | A | 903,348 | ||||||||||||||
150,000 | NYC HDC (Multifamily Hsg.), Series E1 | 6.250 | 05/01/2036 | 01/31/2012 | A | 150,170 | ||||||||||||||
13,000,000 | NYC HDC, Series A1 | 5.000 | 07/01/2025 | 07/01/2015 | A | 13,789,490 | ||||||||||||||
2,215,000 | NYC HDC, Series C1 | 5.000 | 11/01/2026 | 11/01/2015 | A | 2,256,221 | ||||||||||||||
11,460,000 | NYC Health & Hospital Corp.1 | 5.000 | 02/15/2024 | 02/15/2020 | A | 12,816,520 | ||||||||||||||
100,000 | NYC Health & Hospital Corp.1 | 5.375 | 02/15/2026 | 02/15/2012 | A | 100,651 | ||||||||||||||
17,300,000 | NYC Health & Hospital Corp. (Health System)1 | 5.000 | 02/15/2030 | 02/15/2020 | A | 18,310,666 | ||||||||||||||
9,400,000 | NYC IDA (AIRIS JFK I/JFK International Airport)1 | 5.500 | 07/01/2028 | 09/16/2023 | B | 8,244,646 | ||||||||||||||
7,055,000 | NYC IDA (AIRIS JFK I/JFK International Airport)1 | 6.000 | 07/01/2015 | 04/10/2014 | B | 6,978,947 | ||||||||||||||
1,265,000 | NYC IDA (Beth Abraham Health Services)1 | 6.000 | 02/15/2013 | 08/21/2012 | B | 1,273,476 | ||||||||||||||
270,000 | NYC IDA (Beth Abraham Health Services)1 | 6.000 | 11/15/2013 | 05/23/2013 | B | 272,959 | ||||||||||||||
130,000 | NYC IDA (Beth Abraham Health Services)1 | 6.000 | 11/15/2013 | 05/17/2013 | B | 131,425 | ||||||||||||||
490,000 | NYC IDA (Calhoun School)1 | 6.250 | 12/01/2016 | 01/19/2015 | B | 515,681 | ||||||||||||||
3,540,000 | NYC IDA (Calhoun School)1 | 6.250 | 12/01/2017 | 06/01/2012 | A | 3,555,965 | ||||||||||||||
375,000 | NYC IDA (Center for Elimination of Family Violence)1 | 6.250 | 11/01/2016 | 12/20/2014 | B | 371,063 | ||||||||||||||
5,705,000 | NYC IDA (Chapin School)1 | 4.800 | 11/01/2018 | 07/16/2015 | A | 5,843,974 | ||||||||||||||
430,000 | NYC IDA (Comprehensive Care Management)1 | 5.625 | 11/01/2015 | 05/30/2014 | B | 434,334 | ||||||||||||||
330,000 | NYC IDA (Comprehensive Care Management)1 | 5.625 | 11/01/2015 | 05/20/2014 | B | 333,326 | ||||||||||||||
1,800,000 | NYC IDA (Comprehensive Care Management)1 | 5.750 | 08/01/2018 | 06/20/2014 | A | 1,807,704 | ||||||||||||||
1,955,000 | NYC IDA (Comprehensive Care Management)1 | 5.750 | 11/01/2018 | 06/20/2014 | A | 1,963,367 | ||||||||||||||
2,040,000 | NYC IDA (Comprehensive Care Management)1 | 5.750 | 05/01/2019 | 07/10/2014 | A | 2,046,059 | ||||||||||||||
595,000 | NYC IDA (Family Support Systems)4 | 6.500 | 11/01/2014 | 11/15/2013 | B | 421,932 | ||||||||||||||
430,000 | NYC IDA (Gourmet Boutique)1 | 5.250 | 11/01/2013 | 04/28/2013 | B | 408,823 | ||||||||||||||
1,095,000 | NYC IDA (Guttmacher Institute)1 | 5.250 | 12/01/2016 | 08/25/2014 | B | 1,071,228 | ||||||||||||||
200,000 | NYC IDA (Horace Mann School)1 | 5.000 | 07/01/2018 | 01/31/2012 | A | 200,582 | ||||||||||||||
545,000 | NYC IDA (Horace Mann School)1 | 5.000 | 07/01/2023 | 01/31/2012 | A | 546,553 | ||||||||||||||
400,000 | NYC IDA (Independent Living Assoc.)1 | 6.200 | 07/01/2020 | 11/25/2016 | B | 386,668 | ||||||||||||||
26,150,000 | NYC IDA (Liberty-7 World Trade Center)1 | 6.250 | 03/01/2015 | 03/01/2012 | A | 26,190,271 | ||||||||||||||
2,030,000 | NYC IDA (Lycee Francais De New York)1 | 5.375 | 06/01/2023 | 12/01/2012 | A | 2,065,200 |
30 | LIMITED TERM NEW YORK MUNICIPAL FUND
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 2,355,000 | NYC IDA (Lycee Francais De New York)1 | 5.500 | % | 06/01/2013 | 12/01/2012 | A | $ | 2,446,704 | |||||||||||
730,000 | NYC IDA (Lycee Francais De New York)1 | 5.500 | 06/01/2015 | 12/01/2012 | A | 753,185 | ||||||||||||||
2,880,000 | NYC IDA (Lycee Francais De New York)1 | 5.500 | 06/01/2016 | 12/01/2012 | A | 2,970,605 | ||||||||||||||
2,000,000 | NYC IDA (Lycee Francais De New York)1 | 5.500 | 06/01/2017 | 12/01/2012 | A | 2,058,920 | ||||||||||||||
3,210,000 | NYC IDA (Lycee Francais De New York)1 | 5.500 | 06/01/2018 | 12/01/2012 | A | 3,299,976 | ||||||||||||||
485,000 | NYC IDA (Manhattan Community Access Corp.)1 | 5.250 | 12/01/2016 | 08/25/2014 | B | 472,264 | ||||||||||||||
2,620,000 | NYC IDA (Margaret Tietz Nursing & Rehabilitation Center)1 | 5.375 | 11/01/2016 | 12/10/2014 | B | 2,575,460 | ||||||||||||||
310,000 | NYC IDA (Margaret Tietz Nursing & Rehabilitation Center)1 | 5.375 | 11/01/2018 | 01/05/2016 | B | 297,842 | ||||||||||||||
1,520,000 | NYC IDA (Margaret Tietz Nursing & Rehabilitation Center)1 | 5.375 | 11/01/2018 | 01/17/2016 | B | 1,460,386 | ||||||||||||||
250,000 | NYC IDA (Marymount School of New York)1 | 5.125 | 09/01/2021 | 09/01/2012 | A | 255,375 | ||||||||||||||
670,000 | NYC IDA (Metro Biofuels)1 | 5.500 | 11/01/2013 | 05/08/2013 | B | 648,982 | ||||||||||||||
1,600,000 | NYC IDA (Metropolitan College of New York)1 | 5.750 | 03/01/2020 | 09/11/2014 | A | 1,639,824 | ||||||||||||||
4,585,000 | NYC IDA (Montefiore Medical Center Corp.)1 | 5.125 | 11/01/2025 | 01/31/2012 | A | 4,592,886 | ||||||||||||||
5,865,000 | NYC IDA (Montefiore Medical Center Corp.)1 | 5.125 | 11/01/2035 | 01/31/2012 | A | 5,870,689 | ||||||||||||||
805,000 | NYC IDA (New York Institute of Technology)1 | 5.250 | 03/01/2018 | 03/01/2013 | A | 826,598 | ||||||||||||||
75,000 | NYC IDA (Polytechnic University)1 | 4.550 | 11/01/2018 | 11/01/2017 | A | 77,956 | ||||||||||||||
250,000 | NYC IDA (Queens Baseball Stadium)1 | 5.000 | 01/01/2025 | 01/01/2025 | 244,278 | |||||||||||||||
810,000 | NYC IDA (Reece School)1 | 6.500 | 12/01/2017 | 08/11/2015 | B | 815,937 | ||||||||||||||
2,900,000 | NYC IDA (Rosco, Inc.)1 | 5.625 | 06/01/2022 | 01/05/2018 | B | 2,882,368 | ||||||||||||||
1,000,000 | NYC IDA (Royal Charter NY Presbyterian)1 | 5.750 | 12/15/2029 | 01/31/2012 | A | 1,023,380 | ||||||||||||||
4,400,000 | NYC IDA (Samaritan Aids Services)1 | 5.000 | 11/01/2024 | 01/31/2012 | A | 4,407,568 | ||||||||||||||
100,000 | NYC IDA (SFTU/YAI/CRV Obligated Group)1 | 4.400 | 07/01/2012 | 07/01/2012 | 99,333 | |||||||||||||||
300,000 | NYC IDA (Showman Fabricators)1 | 7.125 | 11/01/2013 | 02/09/2013 | B | 290,790 | ||||||||||||||
50,000 | NYC IDA (Special Needs Facilities Pooled Program)1 | 4.150 | 07/01/2014 | 05/20/2013 | B | 49,959 | ||||||||||||||
200,000 | NYC IDA (Special Needs Facilities Pooled Program)1 | 5.800 | 07/01/2023 | 10/13/2021 | B | 182,890 | ||||||||||||||
715,000 | NYC IDA (Stallion)1 | 5.000 | 11/01/2016 | 07/25/2014 | B | 630,444 | ||||||||||||||
375,000 | NYC IDA (Stallion)1 | 5.500 | 11/01/2017 | 06/18/2015 | B | 335,385 | ||||||||||||||
1,170,000 | NYC IDA (Studio School)4 | 6.250 | 11/01/2018 | 01/29/2016 | B | 758,265 | ||||||||||||||
8,605,000 | NYC IDA (Terminal One Group Assoc.)1 | 5.500 | 01/01/2017 | 01/01/2016 | D | 9,436,243 | ||||||||||||||
11,820,000 | NYC IDA (Terminal One Group Assoc.)1 | 5.500 | 01/01/2018 | 01/01/2016 | D | 12,859,333 | ||||||||||||||
14,620,000 | NYC IDA (Terminal One Group Assoc.)1 | 5.500 | 01/01/2019 | 01/01/2016 | D | 15,785,506 | ||||||||||||||
15,245,000 | NYC IDA (Terminal One Group Assoc.)1 | 5.500 | 01/01/2020 | 01/01/2016 | D | 16,336,390 | ||||||||||||||
9,750,000 | NYC IDA (Terminal One Group Assoc.)1 | 5.500 | 01/01/2021 | 01/01/2016 | D | 10,391,745 | ||||||||||||||
48,790,000 | NYC IDA (Terminal One Group Assoc.)1 | 5.500 | 01/01/2024 | 01/01/2016 | D | 51,113,868 | ||||||||||||||
445,000 | NYC IDA (The Child School)1 | 7.000 | 06/01/2013 | 12/04/2012 | B | 450,509 |
31 | LIMITED TERM NEW YORK MUNICIPAL FUND
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 125,000 | NYC IDA (Trinity Episcopal School Corp.)1 | 5.250 | % | 06/15/2017 | 01/31/2012 | A | $ | 125,434 | |||||||||||
5,940,000 | NYC IDA (Unicef)1 | 5.050 | 11/01/2018 | 01/13/2016 | B | 5,644,604 | ||||||||||||||
825,000 | NYC IDA (United Nations School)1 | 6.350 | 12/01/2015 | 01/31/2012 | A | 828,053 | ||||||||||||||
1,000,000 | NYC IDA (Urban Resource Institute)1 | 5.250 | 03/01/2023 | 03/01/2013 | A | 1,027,530 | ||||||||||||||
385,000 | NYC IDA (Urban Resource Institute)1 | 6.500 | 11/01/2013 | 02/08/2013 | B | 381,104 | ||||||||||||||
620,000 | NYC IDA (Vaughn College Aeronautics)1 | 5.000 | 12/01/2016 | 12/01/2016 | 624,005 | |||||||||||||||
1,940,000 | NYC IDA (Vaughn College Aeronautics)1 | 5.000 | 12/01/2016 | 12/01/2016 | 1,952,532 | |||||||||||||||
3,800,000 | NYC IDA (Visy Paper)1 | 7.800 | 01/01/2016 | 01/28/2012 | A | 3,803,800 | ||||||||||||||
765,000 | NYC IDA (Vocational Instruction)4 | 7.250 | 02/01/2013 | 02/01/2013 | 640,328 | |||||||||||||||
2,990,000 | NYC IDA (Yankee Stadium)1 | 4.195 | 2 | 03/01/2016 | 02/01/2012 | A | 2,858,679 | |||||||||||||
3,840,000 | NYC IDA (Yeled Yalda Early Childhood)1 | 5.350 | 11/01/2017 | 04/01/2015 | B | 3,731,520 | ||||||||||||||
5,405,000 | NYC IDA (YMCA of Greater New York)1 | 5.250 | 08/01/2021 | 02/01/2012 | A | 5,413,972 | ||||||||||||||
4,125,000 | NYC IDA (YMCA of Greater New York)1 | 5.800 | 08/01/2016 | 01/31/2012 | A | 4,136,674 | ||||||||||||||
5,000,000 | NYC Municipal Water Finance Authority1 | 5.000 | 06/15/2029 | 06/15/2016 | A | 5,536,250 | ||||||||||||||
30,000,000 | NYC Municipal Water Finance Authority1 | 5.000 | 06/15/2030 | 06/15/2020 | A | 33,269,400 | ||||||||||||||
300,000 | NYC Municipal Water Finance Authority1 | 5.125 | 06/15/2034 | 06/15/2012 | A | 305,082 | ||||||||||||||
50,000 | NYC Municipal Water Finance Authority1 | 5.750 | 06/15/2013 | 01/31/2012 | A | 51,612 | ||||||||||||||
8,950,000 | NYC Sales Tax Asset Receivables Corp., Series A1 | 5.000 | 10/15/2032 | 10/15/2014 | A | 9,636,286 | ||||||||||||||
150,000 | NYC Transitional Finance Authority1 | 5.375 | 01/15/2030 | 01/15/2019 | A | 167,565 | ||||||||||||||
20,000,000 | NYC Transitional Finance Authority1 | 5.500 | 11/01/2028 | 11/01/2015 | A | 22,057,600 | ||||||||||||||
12,605,000 | NYC Transitional Finance Authority (Future Tax)1 | 5.000 | 02/01/2033 | 02/01/2014 | A | 13,343,401 | ||||||||||||||
10,000,000 | NYC Transitional Finance Authority (Future Tax)1 | 5.250 | 11/01/2027 | 11/01/2018 | A | 11,531,100 | ||||||||||||||
250,000 | NYC Trust for Cultural Resources (Museum of Modern Art)1 | 5.125 | 07/01/2031 | 07/01/2012 | A | 254,325 | ||||||||||||||
2,460,000 | NYC Trust for Cultural Resources (Museum of Modern Art)1 | 5.500 | 01/01/2021 | 01/31/2012 | A | 2,518,056 | ||||||||||||||
10,000 | NYS DA (4201 School Programs)1 | 5.000 | 07/01/2018 | 01/31/2012 | A | 10,028 | ||||||||||||||
250,000 | NYS DA (Augustana Lutheran Home)1 | 5.500 | 02/01/2041 | 02/01/2012 | A | 253,315 | ||||||||||||||
20,000 | NYS DA (Brookdale Hospital Medical Center) | 5.100 | 02/15/2012 | 01/31/2012 | A | 20,076 | ||||||||||||||
25,000 | NYS DA (Brookdale Hospital Medical Center)1 | 5.200 | 02/15/2016 | 01/31/2012 | A | 25,076 | ||||||||||||||
65,000 | NYS DA (Brookdale Hospital Medical Center)1 | 5.300 | 02/15/2017 | 01/31/2012 | A | 65,192 | ||||||||||||||
50,000 | NYS DA (Brookdale Hospital Medical Center)1 | 5.300 | 02/15/2017 | 01/31/2012 | A | 50,148 | ||||||||||||||
110,000 | NYS DA (Brooklyn Hospital Center)1 | 5.100 | 02/01/2019 | 02/01/2012 | A | 110,320 | ||||||||||||||
250,000 | NYS DA (Brooklyn Law School)1 | 5.125 | 07/01/2030 | 07/01/2013 | A | 260,223 | ||||||||||||||
25,000 | NYS DA (Buena Vida Nursing Home)1 | 5.000 | 07/01/2018 | 01/31/2012 | A | 25,083 | ||||||||||||||
75,000 | NYS DA (Canisius College)1 | 5.000 | 07/01/2019 | 07/01/2015 | A | 79,223 | ||||||||||||||
1,300,000 | NYS DA (Canisius College)1 | 5.000 | 07/01/2022 | 07/01/2015 | A | 1,348,555 | ||||||||||||||
50,000 | NYS DA (Carmel Richmond Nursing Home)1 | 5.000 | 07/01/2018 | 06/28/2017 | B | 47,833 | ||||||||||||||
1,120,000 | NYS DA (Catskill Regional Medical Center)1 | 5.250 | 02/15/2023 | 02/15/2015 | A | 1,191,870 | ||||||||||||||
1,350,000 | NYS DA (Chapel Oaks) | 5.375 | 07/01/2017 | 01/31/2012 | A | 1,355,346 | ||||||||||||||
3,290,000 | NYS DA (Chapel Oaks)1 | 5.450 | 07/01/2026 | 01/31/2012 | A | 3,296,185 |
32 | LIMITED TERM NEW YORK MUNICIPAL FUND
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 235,000 | NYS DA (Culinary Institute of America)1 | 5.000 | % | 07/01/2022 | 01/31/2012 | A | $ | 235,320 | |||||||||||
25,000 | NYS DA (D’Youville College)1 | 4.700 | 07/01/2012 | 07/01/2012 | 25,367 | |||||||||||||||
125,000 | NYS DA (D’Youville College)1 | 5.250 | 07/01/2025 | 07/01/2013 | A | 126,329 | ||||||||||||||
350,000 | NYS DA (Dept. of Health)1 | 5.000 | 07/01/2021 | 07/01/2014 | A | 374,710 | ||||||||||||||
30,000 | NYS DA (Dept. of Health)1 | 5.000 | 07/01/2028 | 01/31/2012 | A | 30,081 | ||||||||||||||
880,000 | NYS DA (Dept. of Health)1 | 5.250 | 07/01/2023 | 07/01/2014 | A | 935,827 | ||||||||||||||
2,465,000 | NYS DA (Ellis Hospital)1 | 5.050 | 08/15/2024 | 08/15/2014 | A | 2,672,430 | ||||||||||||||
60,000 | NYS DA (Ellis Hospital)1 | 5.500 | 08/01/2015 | 02/01/2012 | A | 60,178 | ||||||||||||||
150,000 | NYS DA (Ellis Hospital)1 | 5.600 | 08/01/2025 | 02/01/2012 | A | 150,248 | ||||||||||||||
175,000 | NYS DA (Ellis Hospital)1 | 5.625 | 08/01/2035 | 02/01/2012 | A | 175,189 | ||||||||||||||
770,000 | NYS DA (FNHC/KR/MMWNHC Obligated Group)1 | 5.750 | 07/01/2017 | 01/31/2012 | A | 772,587 | ||||||||||||||
30,000 | NYS DA (Fordham University)1 | 5.000 | 07/01/2028 | 01/31/2012 | A | 30,032 | ||||||||||||||
3,370,000 | NYS DA (Frances Schervier Home & Hospital Obligated Group)1 | 5.500 | 07/01/2017 | 01/31/2012 | A | 3,375,662 | ||||||||||||||
10,125,000 | NYS DA (Frances Schervier Home & Hospital Obligated Group)1 | 5.500 | 07/01/2027 | 01/31/2012 | A | 10,142,415 | ||||||||||||||
50,000 | NYS DA (Frances Schervier Home & Hospital Obligated Group)1 | 5.500 | 07/01/2027 | 01/31/2012 | A | 50,017 | ||||||||||||||
100,000 | NYS DA (Green Chimneys School)1 | 5.500 | 07/01/2018 | 01/31/2012 | A | 102,159 | ||||||||||||||
2,500,000 | NYS DA (GSHMC/CHSLI Obligated Group)1 | 5.750 | 07/01/2014 | 01/18/2012 | A | 2,506,925 | ||||||||||||||
1,000,000 | NYS DA (Health Center/BFCC/USBFCC Obligated Group)1 | 5.000 | 11/15/2019 | 01/31/2012 | A | 1,002,830 | ||||||||||||||
10,565,000 | NYS DA (Hospital)1 | 6.450 | 08/15/2024 | 08/15/2012 | A | 10,763,411 | ||||||||||||||
1,815,000 | NYS DA (Hunts Point Multi-Service Center)1 | 5.625 | 07/01/2022 | 01/31/2012 | A | 1,819,193 | ||||||||||||||
2,180,000 | NYS DA (Interagency Council Pooled Loan Program)1 | 7.000 | 07/01/2021 | 07/01/2021 | 2,233,105 | |||||||||||||||
5,000 | NYS DA (Jewish Home Lifecare Harry & Jeanette Weinberg Campus Bronx)1 | 5.950 | 02/01/2016 | 02/01/2012 | A | 5,088 | ||||||||||||||
55,000 | NYS DA (John T. Mather Memorial Hospital)1 | 5.250 | 07/01/2015 | 01/31/2012 | A | 55,081 | ||||||||||||||
170,000 | NYS DA (John T. Mather Memorial Hospital)1 | 5.375 | 07/01/2019 | 01/31/2012 | A | 170,170 | ||||||||||||||
1,645,000 | NYS DA (John T. Mather Memorial Hospital)1 | 5.750 | 07/01/2025 | 01/31/2012 | A | 1,645,477 | ||||||||||||||
15,210,000 | NYS DA (Kaleida Health)1 | 5.050 | 02/15/2025 | 02/15/2014 | A | 15,781,440 | ||||||||||||||
1,015,000 | NYS DA (L.I. University)1 | 5.250 | 09/01/2028 | 01/31/2012 | A | 1,015,254 | ||||||||||||||
35,000 | NYS DA (La Salle School) | 5.000 | 07/01/2018 | 01/31/2012 | A | 35,105 | ||||||||||||||
590,000 | NYS DA (Le Moyne College) | 5.000 | 07/01/2018 | 01/31/2012 | A | 591,770 | ||||||||||||||
1,100,000 | NYS DA (Leake & Watts Services)1 | 5.000 | 07/01/2023 | 07/01/2014 | A | 1,153,482 | ||||||||||||||
16,800,000 | NYS DA (Maimonides Medical Center)1 | 5.750 | 08/01/2029 | 08/01/2014 | A | 17,836,224 | ||||||||||||||
100,000 | NYS DA (Manhattan College)1 | 5.500 | 07/01/2019 | 01/31/2012 | A | 101,162 | ||||||||||||||
40,000 | NYS DA (March of Dimes)1 | 5.600 | 07/01/2012 | 01/31/2012 | A | 40,143 | ||||||||||||||
615,000 | NYS DA (Master BOCES Program)1 | 5.250 | 08/15/2023 | 08/15/2013 | A | 638,198 |
33 | LIMITED TERM NEW YORK MUNICIPAL FUND
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 15,000 | NYS DA (Memorial Hospital of William F. & Gertrude F. Jones)1 | 5.250 | % | 08/01/2025 | 02/01/2012 | A | $ | 15,021 | |||||||||||
30,000 | NYS DA (Mental Health Services Facilities)1 | 5.000 | 02/15/2023 | 01/31/2012 | A | 30,050 | ||||||||||||||
14,000,000 | NYS DA (Mental Health Services Facilities)1 | 5.000 | 02/15/2028 | 02/15/2014 | A | 14,753,200 | ||||||||||||||
5,000 | NYS DA (Mental Health Services Facilities) | 5.250 | 08/15/2013 | 01/31/2012 | A | 5,018 | ||||||||||||||
225,000 | NYS DA (Mental Health Services Facilities)1 | 5.250 | 02/15/2023 | 02/15/2014 | A | 240,116 | ||||||||||||||
5,230,000 | NYS DA (Miriam Osborn Memorial Home Assoc.)1 | 6.875 | 07/01/2019 | 01/31/2012 | A | 5,297,624 | ||||||||||||||
200,000 | NYS DA (Montefiore Medical Center)1 | 5.000 | 02/01/2028 | 02/01/2015 | A | 214,954 | ||||||||||||||
11,875,000 | NYS DA (Mount Sinai School of Medicine)1 | 5.000 | 07/01/2035 | 07/01/2017 | A | 12,199,425 | ||||||||||||||
5,000,000 | NYS DA (Municipal Health Facilities)1 | 5.000 | 01/15/2032 | 01/15/2018 | A | 5,220,900 | ||||||||||||||
1,165,000 | NYS DA (New York & Presbyterian Hospital)1 | 5.250 | 02/15/2031 | 08/15/2014 | A | 1,244,430 | ||||||||||||||
250,000 | NYS DA (New York Medical College)1 | 5.000 | 07/01/2021 | 01/31/2012 | A | 250,728 | ||||||||||||||
115,000 | NYS DA (New York Methodist Hospital)1 | 5.250 | 07/01/2018 | 07/01/2014 | A | 121,337 | ||||||||||||||
2,250,000 | NYS DA (New York Methodist Hospital)1 | 5.250 | 07/01/2024 | 07/01/2014 | A | 2,303,955 | ||||||||||||||
8,600,000 | NYS DA (North General Hospital)1 | 5.000 | 02/15/2025 | 02/15/2013 | A | 8,725,990 | ||||||||||||||
4,525,000 | NYS DA (North General Hospital)1 | 5.750 | 02/15/2015 | 02/15/2013 | A | 4,732,607 | ||||||||||||||
4,600,000 | NYS DA (North General Hospital)1 | 5.750 | 02/15/2016 | 02/15/2013 | A | 4,799,732 | ||||||||||||||
5,665,000 | NYS DA (North General Hospital)1 | 5.750 | 02/15/2019 | 02/15/2013 | A | 5,879,364 | ||||||||||||||
3,750,000 | NYS DA (North General Hospital)1 | 5.750 | 02/15/2020 | 02/15/2013 | A | 3,882,525 | ||||||||||||||
875,000 | NYS DA (Northeast Parent & Child)1 | 5.500 | 07/01/2018 | 01/31/2012 | A | 876,383 | ||||||||||||||
525,000 | NYS DA (NSLIJ/NSUH/NSUHGC Obligated Group)1 | 5.000 | 11/01/2017 | 01/31/2012 | A | 525,966 | ||||||||||||||
15,000 | NYS DA (NSLIJ/NSUH/NSUHPL Obligated Group)1 | 5.000 | 11/01/2023 | 01/31/2012 | A | 15,012 | ||||||||||||||
110,000 | NYS DA (NSUH at Forest Hills/NSUH Obligated Group)1 | 5.000 | 11/01/2023 | 01/31/2012 | A | 110,089 | ||||||||||||||
35,000 | NYS DA (NSUH)1 | 5.000 | 11/01/2023 | 01/31/2012 | A | 35,028 | ||||||||||||||
5,000 | NYS DA (NSUH/NSUHGC/NSUHPL Obligated Group)1 | 5.000 | 11/01/2023 | 01/31/2012 | A | 5,004 | ||||||||||||||
10,535,000 | NYS DA (NSUH/NSUHGC/NSUHPL Obligated Group)1 | 5.200 | 11/01/2017 | 01/31/2012 | A | 10,556,070 | ||||||||||||||
200,000 | NYS DA (NSUH/NSUHGC/NSUHPL Obligated Group)1 | 5.250 | 11/01/2019 | 01/31/2012 | A | 200,328 | ||||||||||||||
20,580,000 | NYS DA (NYU Hospitals Center)1 | 5.000 | 07/01/2026 | 07/01/2017 | A | 21,284,248 | ||||||||||||||
13,480,000 | NYS DA (NYU Hospitals Center)1 | 5.000 | 07/01/2026 | 07/01/2016 | A | 13,898,689 | ||||||||||||||
5,235,000 | NYS DA (NYU Hospitals Center)1 | 5.250 | 07/01/2024 | 08/08/2016 | A | 5,563,339 | ||||||||||||||
14,170,000 | NYS DA (NYU)3 | 5.250 | 07/01/2027 | 07/01/2027 | 16,159,893 | |||||||||||||||
65,000 | NYS DA (NYU)1 | 5.500 | 07/01/2014 | 01/31/2012 | A | 65,264 | ||||||||||||||
1,140,000 | NYS DA (Ozanam Hall of Queens Nursing Home)1 | 5.000 | 11/01/2014 | 11/01/2014 | 1,122,205 |
34 | LIMITED TERM NEW YORK MUNICIPAL FUND
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 1,250,000 | NYS DA (Ozanam Hall of Queens Nursing Home)1 | 5.000 | % | 11/01/2015 | 11/01/2015 | $ | 1,220,138 | ||||||||||||
60,000 | NYS DA (Ozanam Hall of Queens Nursing Home)1 | 5.000 | 11/01/2026 | 12/06/2024 | B | 50,748 | ||||||||||||||
3,680,000 | NYS DA (Providence Rest)1 | 5.000 | 07/01/2021 | 07/13/2020 | B | 3,193,872 | ||||||||||||||
1,250,000 | NYS DA (Providence Rest)1 | 5.125 | 07/01/2030 | 08/06/2028 | B | 974,275 | ||||||||||||||
8,730,000 | NYS DA (Rochester General Hospital)1 | 5.000 | 12/01/2025 | 10/25/2021 | B | 8,702,762 | ||||||||||||||
4,385,000 | NYS DA (Ryan-Clinton Community Health Center)1 | 6.100 | 07/01/2019 | 01/31/2012 | A | 4,402,540 | ||||||||||||||
21,000,000 | NYS DA (School District Financing)1 | 5.375 | 10/01/2022 | 10/01/2012 | A | 21,624,120 | ||||||||||||||
14,750,000 | NYS DA (School District Financing)1 | 5.750 | 10/01/2017 | 10/01/2012 | A | 15,264,185 | ||||||||||||||
5,050,000 | NYS DA (School District Financing)1 | 5.750 | 10/01/2022 | 10/01/2012 | A | 5,212,661 | ||||||||||||||
6,180,000 | NYS DA (School District Financing)1 | 5.750 | 10/01/2030 | 10/01/2012 | A | 6,370,715 | ||||||||||||||
665,000 | NYS DA (SCHRC)1 | 5.500 | 07/01/2022 | 01/18/2012 | A | 666,756 | ||||||||||||||
3,460,000 | NYS DA (SCHRC/CHSLI Obligated Group)1 | 5.700 | 07/01/2013 | 01/18/2012 | A | 3,469,480 | ||||||||||||||
3,820,000 | NYS DA (SCHRC/CHSLI Obligated Group)1 | 5.750 | 07/01/2014 | 01/18/2012 | A | 3,830,581 | ||||||||||||||
1,570,000 | NYS DA (SCHRC/CHSLI Obligated Group)1 | 5.800 | 07/01/2015 | 01/18/2012 | A | 1,574,380 | ||||||||||||||
10,000 | NYS DA (SCSMC/SV/CHSLI Obligated Group)1 | 5.750 | 07/01/2020 | 01/18/2012 | A | 10,028 | ||||||||||||||
21,405,000 | NYS DA (SCSMC/SV/CHSLI Obligated Group)1 | 6.000 | 07/01/2030 | 01/18/2012 | A | 21,430,044 | ||||||||||||||
15,000,000 | NYS DA (SCSMC/SV/CHSLI Obligated Group)1 | 6.500 | 07/01/2020 | 01/18/2012 | A | 15,040,200 | ||||||||||||||
1,100,000 | NYS DA (SFH)1 | 5.500 | 07/01/2029 | 01/18/2012 | A | 1,102,904 | ||||||||||||||
250,000 | NYS DA (SFH/CHSLI Obligated Group)1 | 5.500 | 07/01/2022 | 01/18/2012 | A | 250,660 | ||||||||||||||
1,000,000 | NYS DA (SFH/CHSLI Obligated Group)1 | 5.800 | 07/01/2015 | 01/18/2012 | A | 1,002,790 | ||||||||||||||
15,480,000 | NYS DA (SFH/GSHMC/MMC/SCHRC Obligated Group)1 | 5.000 | 07/01/2021 | 07/01/2014 | A | 16,080,779 | ||||||||||||||
230,000 | NYS DA (South Nassau Communities Hospital/Winthrop University Hospital | |||||||||||||||||||
Obligated Group)1 | 5.250 | 07/01/2016 | 07/01/2012 | A | 232,776 | |||||||||||||||
35,000 | NYS DA (Special Act School Districts) | 5.750 | 07/01/2019 | 01/31/2012 | A | 35,124 | ||||||||||||||
320,000 | NYS DA (Special Act School Districts)1 | 5.875 | 07/01/2013 | 01/31/2012 | A | 321,277 | ||||||||||||||
15,000 | NYS DA (Special Act School Districts)1 | 6.000 | 07/01/2016 | 01/31/2012 | A | 15,054 | ||||||||||||||
925,000 | NYS DA (Special Act School Districts) | 6.000 | 07/01/2019 | 01/31/2012 | A | 928,460 | ||||||||||||||
2,500,000 | NYS DA (Special Surgery Hospital)1 | 6.250 | 08/15/2034 | 10/30/2018 | A | 2,990,700 | ||||||||||||||
5,250,000 | NYS DA (SS Joachim & Anne Residence)1 | 5.250 | 07/01/2027 | 07/01/2012 | A | 5,281,448 | ||||||||||||||
3,500,000 | NYS DA (St. Barnabas Hospital)1 | 5.125 | 02/01/2022 | 08/01/2012 | A | 3,571,890 | ||||||||||||||
2,370,000 | NYS DA (St. Barnabas Hospital)1 | 5.350 | 08/01/2017 | 02/01/2012 | A | 2,377,394 | ||||||||||||||
3,000,000 | NYS DA (St. Joseph’s College)1 | 5.250 | 07/01/2025 | 07/01/2017 | A | 3,185,850 | ||||||||||||||
5,125,000 | NYS DA (St. Joseph’s Hospital Health Center)1 | 5.250 | 07/01/2018 | 01/31/2012 | A | 5,131,970 | ||||||||||||||
3,685,000 | NYS DA (St. Lawrence)1 | 5.400 | 08/15/2026 | 08/15/2017 | A | 4,116,034 | ||||||||||||||
100,875,000 | NYS DA (St. Luke’s Roosevelt Hospital)1 | 4.800 | 08/15/2025 | 08/07/2015 | A | 107,740,553 | ||||||||||||||
1,500,000 | NYS DA (State University Educational Facilities)1 | 5.250 | 11/15/2023 | 05/15/2012 | A | 1,526,940 |
35 | LIMITED TERM NEW YORK MUNICIPAL FUND
Effective | ||||||||||||||||||||
Principal | �� | Maturity | ||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 345,000 | NYS DA (Suffern Free Library Assoc.) | 5.000 | % | 07/01/2020 | 01/31/2012 | A | $ | 345,628 | |||||||||||
295,000 | NYS DA (Suffern Free Library)1 | 5.000 | 07/01/2023 | 01/31/2012 | A | 295,392 | ||||||||||||||
2,820,000 | NYS DA (The Bronx-Lebanon Hospital Center)1 | 6.250 | 08/15/2022 | 02/15/2014 | A | 2,979,612 | ||||||||||||||
250,000 | NYS DA (The Bronx-Lebanon Hospital Center)1 | 6.250 | 02/15/2035 | 02/15/2019 | A | 278,090 | ||||||||||||||
90,000 | NYS DA (The Children’s Home of Kingston) | 5.250 | 07/01/2017 | 01/31/2012 | A | 90,351 | ||||||||||||||
6,730,000 | NYS DA (The New School)1 | 5.000 | 07/01/2023 | 04/07/2021 | A | 7,739,702 | ||||||||||||||
2,150,000 | NYS DA (United Cerebral Palsy Assoc. of Nassau County)1 | 5.500 | 07/01/2024 | 01/31/2012 | A | 2,154,300 | ||||||||||||||
1,700,000 | NYS DA (United Cerebral Palsy Assoc. of NYC)1 | 5.750 | 07/01/2018 | 07/01/2012 | A | 1,731,161 | ||||||||||||||
370,000 | NYS DA (United Cerebral Palsy Assoc. of NYC/United Cerebral Palsy Assoc. Obligated Group)1 | 5.000 | 07/01/2013 | 07/01/2012 | A | 377,422 | ||||||||||||||
70,000 | NYS DA (Upstate Community Colleges)1 | 5.000 | 07/01/2028 | 01/31/2012 | A | 70,074 | ||||||||||||||
5,000 | NYS DA (Upstate Community Colleges)1 | 5.000 | 07/01/2028 | 01/31/2012 | A | 5,005 | ||||||||||||||
1,905,000 | NYS DA (Upstate Community Colleges)1 | 5.125 | 07/01/2021 | 07/01/2014 | A | 2,061,762 | ||||||||||||||
1,165,000 | NYS DA (Upstate Community Colleges)1 | 5.125 | 07/01/2022 | 07/01/2014 | A | 1,269,104 | ||||||||||||||
15,000 | NYS DA (W.K. Nursing Home)1 | 5.950 | 02/01/2016 | 02/01/2012 | A | 15,047 | ||||||||||||||
35,000 | NYS DA (W.K. Nursing Home)1 | 6.050 | 02/01/2026 | 02/01/2012 | A | 35,067 | ||||||||||||||
2,500,000 | NYS DA (Willow Towers)1 | 5.400 | 02/01/2034 | 08/01/2012 | A | 2,577,500 | ||||||||||||||
2,000,000 | NYS DA (Winthrop University Hospital)1 | 5.500 | 07/01/2023 | 07/01/2013 | A | 2,041,140 | ||||||||||||||
310,000 | NYS DA (Winthrop University Hospital/ South Nassau Communities Hospital Obligated Group)1 | 5.250 | 07/01/2015 | 01/31/2012 | A | 313,770 | ||||||||||||||
235,000 | NYS DA (Winthrop University Hospital/ South Nassau Communities Hospital Obligated Group)1 | 5.250 | 07/01/2018 | 07/01/2012 | A | 237,606 | ||||||||||||||
100,000 | NYS DA (Winthrop University Hospital/ South Nassau Communities Hospital Obligated Group)1 | 5.250 | 07/01/2019 | 07/01/2012 | A | 100,944 | ||||||||||||||
285,000 | NYS DA (Wyckoff Heights Medical Center)1 | 5.200 | 02/15/2013 | 01/31/2012 | A | 285,912 | ||||||||||||||
1,000,000 | NYS DA (Wyckoff Heights Medical Center)1 | 5.200 | 02/15/2014 | 01/31/2012 | A | 1,003,100 | ||||||||||||||
20,000 | NYS DA (Wyckoff Heights Medical Center)1 | 5.200 | 02/15/2014 | 01/31/2012 | A | 20,062 | ||||||||||||||
20,000 | NYS DA (Wyckoff Heights Medical Center)1 | 5.200 | 02/15/2014 | 01/31/2012 | A | 20,068 | ||||||||||||||
250,000 | NYS DA (Wyckoff Heights Medical Center)1 | 5.200 | 02/15/2015 | 01/31/2012 | A | 250,798 | ||||||||||||||
26,280,000 | NYS DA (Wyckoff Heights Medical Center)1 | 5.300 | 08/15/2021 | 01/31/2012 | A | 26,334,400 | ||||||||||||||
1,120,000 | NYS DA (Wyckoff Heights Medical Center)1 | 5.300 | 08/15/2021 | 01/31/2012 | A | 1,122,318 | ||||||||||||||
39,570,000 | NYS DA, Series B3 | 6.650 | 08/15/2030 | 07/01/2014 | A | 40,321,426 | ||||||||||||||
1,000,000 | NYS DA, Series B1 | 6.650 | 08/15/2030 | 08/15/2012 | A | 1,018,990 | ||||||||||||||
5,000 | NYS EFC1 | 5.600 | 09/15/2013 | 01/31/2012 | A | 5,022 | ||||||||||||||
300,000 | NYS EFC (Clean Water & Drinking Revolving Funds)1 | 5.000 | 06/15/2026 | 06/15/2012 | A | 305,718 |
36 | LIMITED TERM NEW YORK MUNICIPAL FUND
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 2,960,000 | NYS EFC (Clean Water & Drinking Revolving Funds)1 | 5.000 | % | 06/15/2028 | 06/15/2013 | A | $ | 3,096,219 | |||||||||||
1,440,000 | NYS EFC (Clean Water & Drinking Revolving Funds)1 | 5.000 | 07/15/2033 | 07/15/2013 | A | 1,503,187 | ||||||||||||||
4,500,000 | NYS EFC (Clean Water & Drinking Revolving Funds)5 | 5.000 | 02/15/2034 | 08/15/2014 | A | 4,834,260 | ||||||||||||||
955,000 | NYS EFC (L.I. Water Corp.)1 | 5.250 | 08/01/2027 | 02/01/2012 | A | 955,525 | ||||||||||||||
6,720,000 | NYS EFC (NYC Municipal Water Finance Authority)5 | 5.000 | 06/15/2034 | 06/15/2014 | A | 7,191,139 | ||||||||||||||
20,000 | NYS EFC (NYC Municipal Water Finance Authority) | 5.875 | 06/15/2014 | 01/31/2012 | A | 20,091 | ||||||||||||||
7,500,000 | NYS EFC (NYS Water Services)1 | 5.950 | 01/15/2020 | 01/31/2012 | A | 7,594,650 | ||||||||||||||
1,320,000 | NYS EFC (NYS Water Services)1 | 6.875 | 06/15/2014 | 01/31/2012 | A | 1,327,128 | ||||||||||||||
70,000 | NYS EFC (NYS Water Services)1 | 7.500 | 06/15/2012 | 01/31/2012 | A | 70,426 | ||||||||||||||
25,000 | NYS EFC (Pollution Control) | 6.500 | 06/15/2014 | 01/31/2012 | A | 25,127 | ||||||||||||||
1,050,000 | NYS EFC (Spring Valley Water Company)1 | 5.650 | 11/01/2023 | 01/31/2012 | A | 1,051,649 | ||||||||||||||
5,800,000 | NYS EFC (Spring Valley Water Company)1 | 6.300 | 08/01/2024 | 02/01/2012 | A | 5,808,352 | ||||||||||||||
37,025,000 | NYS ERDA (Brooklyn Union Gas Company)1 | 5.500 | 01/01/2021 | 01/31/2012 | A | 37,154,588 | ||||||||||||||
3,000,000 | NYS ERDA (Brooklyn Union Gas Company) Linked SAVRS & RIBS1 | 6.368 | 2 | 04/01/2020 | 04/01/2012 | A | 3,012,390 | |||||||||||||
25,000 | NYS ERDA (Central Hudson Gas & Electric Co.)1 | 6.500 | 12/01/2028 | 12/01/2013 | A | 26,004 | ||||||||||||||
10,650,000 | NYS ERDA (Con Ed)1 | 0.245 | 2 | 10/01/2036 | 10/01/2012 | A | 7,384,710 | |||||||||||||
1,280,000 | NYS ERDA (LILCO)1 | 5.150 | 03/01/2016 | 01/31/2012 | A | 1,297,869 | ||||||||||||||
4,740,000 | NYS ERDA (LILCO)1 | 5.150 | 03/01/2016 | 01/31/2012 | A | 4,793,752 | ||||||||||||||
13,845,000 | NYS ERDA (LILCO)1 | 5.150 | 03/01/2016 | 01/31/2012 | A | 14,002,002 | ||||||||||||||
5,245,000 | NYS ERDA (LILCO)1 | 5.150 | 03/01/2016 | 01/31/2012 | A | 5,304,478 | ||||||||||||||
20,640,000 | NYS ERDA (LILCO)1 | 5.300 | 11/01/2023 | 03/01/2012 | A | 20,685,821 | ||||||||||||||
200,000 | NYS ERDA (LILCO)1 | 5.300 | 10/01/2024 | 03/01/2012 | A | 200,382 | ||||||||||||||
320,000 | NYS ERDA (Niagara Mohawk Power Corp.)1 | 5.150 | 11/01/2025 | 01/31/2012 | A | 320,397 | ||||||||||||||
920,000 | NYS ERDA (NYS Electric & Gas Corp.)1 | 5.350 | 12/01/2028 | 05/09/2013 | A | 923,036 | ||||||||||||||
3,250,000 | NYS HFA (Affordable Hsg.)1 | 5.250 | 11/01/2027 | 11/01/2017 | A | 3,332,583 | ||||||||||||||
565,000 | NYS HFA (Division Street)1 | 5.000 | 02/15/2026 | 08/24/2015 | A | 576,119 | ||||||||||||||
725,000 | NYS HFA (Golden Age Apartments)1 | 5.000 | 02/15/2037 | 09/20/2015 | A | 730,191 | ||||||||||||||
3,000,000 | NYS HFA (Horizons at Wawayanda)1 | 5.350 | 06/01/2025 | 08/01/2017 | A | 3,136,050 | ||||||||||||||
7,565,000 | NYS HFA (Hospital & Nursing Home) | 5.150 | 11/01/2016 | 01/31/2012 | A | 7,600,177 | ||||||||||||||
40,000 | NYS HFA (Hospital & Nursing Home)1 | 5.500 | 11/01/2012 | 11/01/2012 | 41,458 | |||||||||||||||
65,000 | NYS HFA (Hospital & Nursing Home)1 | 5.500 | 11/01/2013 | 11/01/2013 | 70,280 | |||||||||||||||
10,000 | NYS HFA (Hospital & Nursing Home)1 | 6.000 | 11/01/2013 | 11/01/2013 | 11,000 | |||||||||||||||
35,000 | NYS HFA (Hospital & Nursing Home)1 | 6.000 | 11/01/2014 | 11/01/2014 | 40,269 | |||||||||||||||
25,000 | NYS HFA (Loewn Devel. of Wappingers Falls)1 | 5.250 | 08/15/2019 | 01/31/2012 | A | 25,027 | ||||||||||||||
55,000 | NYS HFA (Meadow Manor)1 | 7.750 | 11/01/2019 | 05/01/2012 | A | 55,893 |
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 345,000 | NYS HFA (Multifamily Hsg.)1 | 5.300 | % | 08/15/2022 | 08/15/2012 | A | $ | 347,225 | |||||||||||
1,340,000 | NYS HFA (Multifamily Hsg.)1 | 5.300 | 08/15/2024 | 01/31/2012 | A | 1,340,831 | ||||||||||||||
250,000 | NYS HFA (Multifamily Hsg.)1 | 5.350 | 08/15/2020 | 02/15/2012 | A | 252,768 | ||||||||||||||
300,000 | NYS HFA (Multifamily Hsg.)1 | 5.350 | 08/15/2031 | 01/31/2012 | A | 300,105 | ||||||||||||||
50,000 | NYS HFA (Multifamily Hsg.)1 | 5.400 | 02/15/2016 | 01/31/2012 | A | 50,082 | ||||||||||||||
1,025,000 | NYS HFA (Multifamily Hsg.)1 | 5.550 | 08/15/2019 | 01/31/2012 | A | 1,026,415 | ||||||||||||||
1,160,000 | NYS HFA (Multifamily Hsg.)1 | 5.600 | 08/15/2019 | 01/31/2012 | A | 1,161,647 | ||||||||||||||
1,240,000 | NYS HFA (Multifamily Hsg.)1 | 5.600 | 02/15/2026 | 01/31/2012 | A | 1,240,880 | ||||||||||||||
1,730,000 | NYS HFA (Multifamily Hsg.)1 | 5.600 | 08/15/2033 | 08/15/2012 | A | 1,748,200 | ||||||||||||||
115,000 | NYS HFA (Multifamily Hsg.)1 | 6.250 | 08/15/2025 | 01/31/2012 | A | 115,151 | ||||||||||||||
320,000 | NYS HFA (Multifamily Hsg.)1 | 6.750 | 11/15/2036 | 01/31/2012 | A | 338,963 | ||||||||||||||
10,000 | NYS HFA (Multifamily Hsg.)1 | 6.800 | 11/01/2014 | 01/31/2012 | A | 10,039 | ||||||||||||||
90,000 | NYS HFA (Multifamily Hsg.)1 | 6.850 | 11/01/2019 | 01/31/2012 | A | 90,256 | ||||||||||||||
225,000 | NYS HFA (Newburgh Interfaith Emergency Hsg.) | 7.050 | 11/01/2012 | 01/31/2012 | A | 226,015 | ||||||||||||||
40,000 | NYS HFA (Nonprofit Hsg.) | 6.200 | 11/01/2012 | 01/31/2012 | A | 40,554 | ||||||||||||||
25,000 | NYS HFA (Nonprofit Hsg.) | 6.200 | 11/01/2013 | 01/31/2012 | A | 25,339 | ||||||||||||||
4,775,000 | NYS HFA (Phillips Village) | 7.750 | 08/15/2017 | 01/23/2012 | A | 4,833,303 | ||||||||||||||
2,615,000 | NYS HFA (Senior Devel. Hsg.)1 | 5.100 | 11/15/2023 | 10/07/2016 | A | 2,731,028 | ||||||||||||||
1,440,000 | NYS HFA (Simeon Dewitt)1 | 8.000 | 11/01/2018 | 01/31/2012 | A | 1,480,968 | ||||||||||||||
220,000 | NYS HFA (Tiffany Gardens)1 | 4.500 | 08/15/2015 | 12/10/2013 | B | 230,054 | ||||||||||||||
1,915,000 | NYS HFA, Series A | 6.100 | 11/01/2015 | 01/31/2012 | A | 1,923,618 | ||||||||||||||
405,000 | NYS HFA, Series A1 | 6.125 | 11/01/2020 | 01/22/2012 | A | 405,753 | ||||||||||||||
110,000 | NYS Medcare (Hospital & Nursing Home) | 7.400 | 11/01/2016 | 01/31/2012 | A | 110,549 | ||||||||||||||
45,000 | NYS Medcare (Hospital & Nursing Home) | 9.375 | 11/01/2016 | 01/31/2012 | A | 45,330 | ||||||||||||||
10,710,000 | NYS Municipal Bond Bank Agency (Special School Purpose)1 | 5.250 | 12/01/2019 | 06/01/2013 | A | 11,286,091 | ||||||||||||||
2,930,000 | NYS Municipal Bond Bank Agency (Special School Purpose)1 | 5.500 | 06/01/2015 | 06/01/2013 | A | 3,122,765 | ||||||||||||||
620,000 | NYS Thruway Authority1 | 5.500 | 04/01/2014 | 04/01/2012 | A | 627,793 | ||||||||||||||
4,000,000 | NYS UDC (Subordinated Lien)1 | 5.125 | 07/01/2020 | 07/01/2014 | A | 4,310,800 | ||||||||||||||
1,000,000 | NYS UDC (Subordinated Lien)1 | 5.125 | 07/01/2021 | 07/01/2014 | A | 1,072,240 | ||||||||||||||
4,770,000 | NYS UDC (Subordinated Lien)1 | 5.500 | 07/01/2016 | 01/27/2012 | A | 4,789,080 | ||||||||||||||
6,725,000 | NYS UDC (Subordinated Lien) | 5.500 | 07/01/2022 | 01/31/2012 | A | 6,747,394 | ||||||||||||||
6,795,000 | NYS UDC (Subordinated Lien)1 | 5.600 | 07/01/2026 | 01/31/2012 | A | 6,818,715 | ||||||||||||||
3,675,000 | NYS UDC, Series D1 | 5.625 | 01/01/2028 | 01/01/2019 | A | 4,138,087 | ||||||||||||||
2,235,000 | Oneida County, NY IDA (Faxton Hospital)1 | 6.625 | 01/01/2015 | 01/24/2012 | A | 2,242,487 | ||||||||||||||
60,000 | Oneida County, NY IDA (Mohawk Valley Handicapped Services)1 | 5.300 | 03/15/2019 | 12/05/2015 | B | 57,769 | ||||||||||||||
65,000 | Oneida County, NY IDA (Mohawk Valley Network/Faxton-St. Luke’s Healthcare Obligated Group)1 | 5.000 | 01/01/2013 | 04/03/2012 | A | 66,405 |
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 1,190,000 | Oneida County, NY IDA (Presbyterian Home)1 | 5.250 | % | 03/01/2019 | �� | 03/01/2012 | A | $ | 1,196,355 | ||||||||||
1,615,000 | Oneida County, NY IDA (Presbyterian Home)1 | 6.100 | 06/01/2020 | 01/31/2012 | A | 1,620,120 | ||||||||||||||
730,000 | Oneida County, NY IDA (Presbyterian Home)1 | 6.250 | 06/01/2015 | 01/31/2012 | A | 733,037 | ||||||||||||||
645,000 | Onondaga County, NY IDA (Le Moyne College)1 | 5.500 | 03/01/2014 | 01/31/2012 | A | 646,587 | ||||||||||||||
1,000,000 | Onondaga, NY Civic Devel Corp. (Upstate Properties)1 | 5.500 | 12/01/2031 | 12/01/2021 | A | 1,093,080 | ||||||||||||||
100,000 | Orange County, NY IDA (Crystal Run Village)1 | 4.750 | 07/01/2016 | 07/01/2016 | 91,991 | |||||||||||||||
200,000 | Orange County, NY IDA (Orange Mental Retardation Properties) | 6.125 | 05/01/2016 | 01/31/2012 | A | 200,768 | ||||||||||||||
3,505,000 | Orange County, NY IDA (St. Luke’s Cornwall Hospital Obligated Group)1 | 6.000 | 12/01/2016 | 01/31/2012 | A | 3,547,586 | ||||||||||||||
1,300,000 | Orange County, NY IDA (St. Luke’s Cornwall Hospital Obligated Group)1 | 6.000 | 12/01/2016 | 01/31/2012 | A | 1,315,795 | ||||||||||||||
520,000 | Otsego County, NY IDA (AOFMHS)1 | 5.350 | 10/01/2017 | 01/31/2012 | A | 522,018 | ||||||||||||||
510,000 | Otsego County, NY IDA (Bassett Healthcare Project)1 | 5.375 | 11/01/2020 | 05/01/2012 | A | 512,586 | ||||||||||||||
1,350,000 | Otsego County, NY IDA (Hartwick College)1 | 6.000 | 07/01/2013 | 07/01/2012 | A | 1,358,681 | ||||||||||||||
1,435,000 | Otsego County, NY IDA (Hartwick College)1 | 6.000 | 07/01/2014 | 07/01/2012 | A | 1,442,821 | ||||||||||||||
1,520,000 | Otsego County, NY IDA (Hartwick College)1 | 6.000 | 07/01/2015 | 07/01/2012 | A | 1,525,882 | ||||||||||||||
1,610,000 | Otsego County, NY IDA (Hartwick College)1 | 6.000 | 07/01/2016 | 07/01/2012 | A | 1,615,361 | ||||||||||||||
3,625,000 | Otsego County, NY IDA (Mary Imogene Bassett Hospital)1 | 5.350 | 11/01/2020 | 05/01/2012 | A | 3,643,053 | ||||||||||||||
6,800,000 | Oyster Bay, NY RANS | 2.000 | 03/16/2012 | 03/16/2012 | 6,819,584 | |||||||||||||||
25,000 | Plattsburgh, NY Fire District No. 31 | 6.250 | 10/15/2014 | 04/15/2012 | A | 25,421 | ||||||||||||||
96,345,000 | Port Authority NY/NJ (JFK International Air Terminal)1 | 5.750 | 12/01/2022 | 05/31/2012 | A | 96,340,183 | ||||||||||||||
43,160,000 | Port Authority NY/NJ (JFK International Air Terminal)1 | 5.750 | 12/01/2025 | 05/31/2012 | A | 43,156,979 | ||||||||||||||
67,765,000 | Port Authority NY/NJ (JFK International Air Terminal)1 | 5.900 | 12/01/2017 | 01/31/2012 | A | 67,844,963 | ||||||||||||||
18,355,000 | Port Authority NY/NJ (JFK International Air Terminal)1 | 6.250 | 12/01/2014 | 12/01/2014 | 19,398,665 | |||||||||||||||
39,000,000 | Port Authority NY/NJ (JFK International Air Terminal)1 | 6.500 | 12/01/2028 | 12/01/2015 | A | 41,426,970 | ||||||||||||||
29,175,000 | Port Authority NY/NJ (KIAC)1 | 6.750 | 10/01/2019 | 09/04/2016 | B | 27,231,653 | ||||||||||||||
20,000 | Port Authority NY/NJ, 103rd Series1 | 5.250 | 12/15/2012 | 01/31/2012 | A | 20,079 | ||||||||||||||
10,000 | Port Authority NY/NJ, 116th Series1 | 5.000 | 10/01/2012 | 01/31/2012 | A | 10,038 | ||||||||||||||
100,000 | Port Authority NY/NJ, 116th Series | 5.000 | 10/01/2013 | 01/31/2012 | A | 100,369 | ||||||||||||||
160,000 | Port Authority NY/NJ, 116th Series | 5.250 | 10/01/2014 | 01/31/2012 | A | 160,624 | ||||||||||||||
55,000 | Port Authority NY/NJ, 116th Series | 5.250 | 10/01/2015 | 01/31/2012 | A | 55,215 | ||||||||||||||
30,000 | Port Authority NY/NJ, 124th Series1 | 4.800 | 08/01/2018 | 02/01/2012 | A | 30,066 | ||||||||||||||
1,695,000 | Port Authority NY/NJ, 124th Series1 | 5.000 | 08/01/2019 | 02/01/2012 | A | 1,699,170 |
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 20,000 | Port Authority NY/NJ, 124th Series1 | 5.000 | % | 08/01/2021 | 02/01/2012 | A | $ | 20,042 | |||||||||||
265,000 | Port Authority NY/NJ, 124th Series1 | 5.000 | 08/01/2022 | 02/01/2012 | A | 265,504 | ||||||||||||||
325,000 | Port Authority NY/NJ, 124th Series1 | 5.000 | 08/01/2024 | 02/01/2012 | A | 325,491 | ||||||||||||||
100,000 | Port Authority NY/NJ, 124th Series1 | 5.000 | 08/01/2025 | 02/01/2012 | A | 100,139 | ||||||||||||||
60,000 | Port Authority NY/NJ, 124th Series1 | 5.000 | 08/01/2031 | 02/01/2012 | A | 60,055 | ||||||||||||||
15,000 | Port Authority NY/NJ, 126th Series1 | 5.000 | 11/15/2024 | 05/15/2012 | A | 15,251 | ||||||||||||||
85,000 | Port Authority NY/NJ, 126th Series1 | 5.125 | 11/15/2032 | 05/15/2012 | A | 86,220 | ||||||||||||||
230,000 | Port Authority NY/NJ, 127th Series1 | 5.000 | 12/15/2022 | 06/15/2012 | A | 234,660 | ||||||||||||||
30,000 | Port Authority NY/NJ, 127th Series1 | 5.000 | 12/15/2024 | 06/15/2012 | A | 30,547 | ||||||||||||||
10,000 | Port Authority NY/NJ, 131st Series1 | 5.000 | 12/15/2026 | 06/15/2013 | A | 10,324 | ||||||||||||||
18,855,000 | Port Authority NY/NJ, 136th Series1 | 5.375 | 11/01/2025 | 05/01/2014 | A | 20,501,607 | ||||||||||||||
350,000 | Port Authority NY/NJ, 140th Series1 | 5.000 | 12/01/2027 | 06/01/2015 | A | 374,385 | ||||||||||||||
5,745,000 | Port Authority NY/NJ, 141st Series1 | 5.000 | 09/01/2021 | 09/01/2015 | A | 6,196,787 | ||||||||||||||
14,110,000 | Port Authority NY/NJ, 141st Series1 | 5.000 | 09/01/2022 | 09/01/2015 | A | 15,122,675 | ||||||||||||||
6,000,000 | Port Authority NY/NJ, 141st Series1 | 5.000 | 09/01/2025 | 09/01/2015 | A | 6,299,760 | ||||||||||||||
10,000,000 | Port Authority NY/NJ, 141st Series1 | 5.000 | 09/01/2026 | 09/01/2015 | A | 10,482,000 | ||||||||||||||
9,300,000 | Port Authority NY/NJ, 143rd Series1 | 5.000 | 10/01/2030 | 04/01/2016 | A | 9,628,569 | ||||||||||||||
2,100,000 | Port Authority NY/NJ, 151st Series1 | 6.000 | 09/15/2028 | 03/15/2018 | A | 2,398,095 | ||||||||||||||
250,000 | Port Authority NY/NJ, 152nd Series1 | 5.000 | 11/01/2023 | 05/01/2018 | A | 278,723 | ||||||||||||||
2,100,000 | Port Authority NY/NJ, 152nd Series1 | 5.750 | 11/01/2030 | 05/01/2018 | A | 2,359,728 | ||||||||||||||
2,780,000 | Port Authority NY/NJ, 37th Series1 | 5.500 | 07/15/2019 | 07/15/2014 | A | 3,046,074 | ||||||||||||||
1,100,000 | Poughkeepsie, NY IDA (Eastman & Bixby Redevel. Corp.)1 | 5.900 | 08/01/2020 | 02/01/2012 | A | 1,102,541 | ||||||||||||||
1,200,000 | Rensselaer County, NY IDA (Franciscan Heights)1 | 5.375 | 12/01/2025 | 12/01/2014 | A | 1,244,760 | ||||||||||||||
4,555,000 | Rensselaer County, NY IDA (Rensselaer Polytechnical Institute)1 | 5.000 | 03/01/2036 | 03/01/2016 | A | 4,622,277 | ||||||||||||||
235,000 | Rensselaer County, NY IDA (Rensselaer Polytechnical Institute)1 | 5.125 | 08/01/2027 | 02/01/2012 | A | 235,150 | ||||||||||||||
265,000 | Rensselaer County, NY IDA (Rensselaer Polytechnical Institute)1 | 5.125 | 08/01/2029 | 02/01/2012 | A | 265,130 | ||||||||||||||
50,000 | Rensselaer County, NY IDA (Rensselaer Polytechnical Institute)1 | 5.500 | 08/01/2022 | 02/01/2012 | A | 50,078 | ||||||||||||||
1,480,000 | Rensselaer County, NY Tobacco Asset Securitization Corp.1 | 5.200 | 06/01/2025 | 04/23/2012 | B | 1,377,658 | ||||||||||||||
1,490,000 | Rensselaer County, NY Tobacco Asset Securitization Corp.1 | 5.750 | 06/01/2043 | 04/02/2026 | B | 1,249,559 | ||||||||||||||
230,000 | Rensselaer, NY Municipal Leasing Corp. (Rensselaer County Nursing Home)1 | 5.000 | 06/01/2019 | 06/01/2014 | A | 240,401 | ||||||||||||||
5,845,000 | Rensselaer, NY Municipal Leasing Corp. (Rensselaer County Nursing Home)1 | 5.875 | 06/01/2022 | 06/01/2014 | A | 6,161,390 |
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 25,000 | Rockland County, NY Solid Waste Management Authority | 5.625 | % | 12/15/2014 | 01/31/2012 | A | $ | 25,078 | |||||||||||
6,860,000 | Rockland County, NY Tobacco Asset Securitization Corp.1 | 5.500 | 08/15/2025 | 10/26/2013 | B | 6,540,187 | ||||||||||||||
55,000 | Rome, NY HDC, Series A1 | 6.250 | 01/01/2024 | 01/31/2012 | A | 55,091 | ||||||||||||||
500,000 | Saratoga County, NY IDA (Saratoga Hospital/ Saratoga Care/Benedict Community Health Center)1 | 5.000 | 12/01/2014 | 12/01/2014 | 536,770 | |||||||||||||||
3,725,000 | Saratoga County, NY IDA(Saratoga Hospital/ Saratoga Care/Benedict Community Health Center)1 | 5.750 | 12/01/2023 | 01/31/2012 | A | 3,729,805 | ||||||||||||||
6,540,000 | Saratoga County, NY IDA (Saratoga Hospital/ Saratoga Care/Benedict Community Health Center)1 | 5.750 | 12/01/2033 | 01/31/2012 | A | 6,543,335 | ||||||||||||||
3,405,000 | Schenectady, NY Metroplex Devel. Authority, Series A1 | 5.375 | 12/15/2021 | 12/15/2012 | A | 3,496,833 | ||||||||||||||
25,000 | Scotia, NY GO1 | 6.100 | 01/15/2012 | 01/15/2012 | 25,058 | |||||||||||||||
50,000 | Seneca County, NY IDA (New York Chiropractic College)1 | 4.000 | 10/01/2015 | 10/01/2015 | 52,706 | |||||||||||||||
5,000 | SONYMA, Series 1011 | 5.250 | 04/01/2022 | 01/31/2012 | A | 5,004 | ||||||||||||||
4,550,000 | SONYMA, Series 1011 | 5.350 | 10/01/2026 | 01/31/2012 | A | 4,553,049 | ||||||||||||||
10,000,000 | SONYMA, Series 113 | 5.250 | 10/01/2034 | 04/01/2014 | A | 10,200,100 | ||||||||||||||
795,000 | SONYMA, Series 1331 | 4.950 | 10/01/2021 | 04/01/2015 | A | 817,944 | ||||||||||||||
580,000 | SONYMA, Series 1451 | 4.950 | 10/01/2023 | 04/01/2017 | A | 600,555 | ||||||||||||||
20,465,000 | SONYMA, Series 293 | 5.450 | 10/01/2031 | 01/05/2013 | A | 20,645,838 | ||||||||||||||
400,000 | SONYMA, Series 311 | 5.200 | 10/01/2021 | 01/31/2012 | A | 400,376 | ||||||||||||||
485,000 | SONYMA, Series 311 | 5.300 | 10/01/2031 | 01/31/2012 | A | 485,184 | ||||||||||||||
8,380,000 | SONYMA, Series 691 | 5.500 | 10/01/2028 | 01/31/2012 | A | 8,384,777 | ||||||||||||||
35,000 | SONYMA, Series 701 | 5.375 | 10/01/2017 | 01/31/2012 | A | 35,076 | ||||||||||||||
5,000 | SONYMA, Series 701 | 5.375 | 10/01/2017 | 01/31/2012 | A | 5,010 | ||||||||||||||
2,655,000 | SONYMA, Series 711 | 5.400 | 04/01/2029 | 01/31/2012 | A | 2,656,832 | ||||||||||||||
120,000 | SONYMA, Series 721 | 5.300 | 04/01/2027 | 01/31/2012 | A | 120,060 | ||||||||||||||
175,000 | SONYMA, Series 73-A1 | 5.300 | 10/01/2028 | 01/31/2012 | A | 175,075 | ||||||||||||||
28,270,000 | SONYMA, Series 771 | 5.150 | 04/01/2029 | 01/31/2012 | A | 28,280,460 | ||||||||||||||
15,000 | SONYMA, Series 781 | 5.000 | 10/01/2017 | 01/31/2012 | A | 15,030 | ||||||||||||||
735,000 | SONYMA, Series 791 | 5.300 | 04/01/2029 | 01/31/2012 | A | 735,287 | ||||||||||||||
40,000 | SONYMA, Series 821 | 5.650 | 04/01/2030 | 01/31/2012 | A | 40,027 | ||||||||||||||
1,355,000 | SONYMA, Series 831 | 5.450 | 04/01/2018 | 01/31/2012 | A | 1,357,683 | ||||||||||||||
45,000 | SONYMA, Series 831 | 5.550 | 10/01/2027 | 01/31/2012 | A | 45,040 | ||||||||||||||
15,000 | SONYMA, Series 831 | 5.550 | 10/01/2027 | 01/31/2012 | A | 15,015 | ||||||||||||||
105,000 | SONYMA, Series 981 | 5.050 | 10/01/2017 | 01/31/2012 | A | 105,216 | ||||||||||||||
385,000 | Spring Valley, NY (Quality Redevel.)1 | 5.000 | 06/15/2021 | 06/15/2017 | A | 422,076 |
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 405,000 | Spring Valley, NY (Quality Redevel.)1 | 5.000 | % | 06/15/2022 | 06/15/2017 | A | $ | 439,129 | |||||||||||
300,000 | Spring Valley, NY GO1 | 5.000 | 05/01/2020 | 05/01/2015 | A | 320,496 | ||||||||||||||
310,000 | Spring Valley, NY GO1 | 5.000 | 05/01/2021 | 05/01/2015 | A | 328,944 | ||||||||||||||
325,000 | Spring Valley, NY GO1 | 5.000 | 05/01/2022 | 05/01/2015 | A | 342,430 | ||||||||||||||
335,000 | Spring Valley, NY GO1 | 5.000 | 05/01/2023 | 05/01/2015 | A | 350,732 | ||||||||||||||
350,000 | Spring Valley, NY GO1 | 5.000 | 05/01/2024 | 05/01/2015 | A | 364,641 | ||||||||||||||
365,000 | Spring Valley, NY GO1 | 5.000 | 05/01/2025 | 05/01/2015 | A | 378,644 | ||||||||||||||
2,730,000 | St. Lawrence County, NY IDA (Curran Renewable Energy)1 | 6.200 | 12/01/2017 | 06/02/2015 | B | 2,459,730 | ||||||||||||||
9,100,000 | Suffolk County, NY Economic Devel. Corp. (Catholic Health Services)1 | 5.000 | 07/01/2028 | 07/01/2021 | A | 9,480,835 | ||||||||||||||
460,000 | Suffolk County, NY IDA (ALIA-CCDRCA)1 | 7.000 | 06/01/2016 | 03/30/2013 | A | 463,832 | ||||||||||||||
500,000 | Suffolk County, NY IDA (ALIA-Civic Facility)1 | 5.950 | 11/01/2022 | 01/02/2019 | B | 464,420 | ||||||||||||||
120,000 | Suffolk County, NY IDA (ALIA-Civic Facility)1 | 6.000 | 11/01/2017 | 05/01/2015 | B | 116,436 | ||||||||||||||
495,000 | Suffolk County, NY IDA (ALIA-Civic Facility)1 | 6.000 | 11/01/2017 | 07/17/2015 | B | 480,299 | ||||||||||||||
555,000 | Suffolk County, NY IDA (ALIA-FREE)1 | 7.000 | 06/01/2016 | 03/31/2013 | A | 559,623 | ||||||||||||||
200,000 | Suffolk County, NY IDA (ALIA-IGHL)1 | 5.950 | 11/01/2022 | 12/23/2018 | B | 185,768 | ||||||||||||||
110,000 | Suffolk County, NY IDA (ALIA-IGHL)1 | 6.500 | 12/01/2013 | 06/09/2013 | B | 109,919 | ||||||||||||||
300,000 | Suffolk County, NY IDA (ALIA-NYS ARC)1 | 5.950 | 11/01/2022 | 11/28/2019 | B | 278,652 | ||||||||||||||
300,000 | Suffolk County, NY IDA (ALIA-WORCA)1 | 5.950 | 11/01/2022 | 03/31/2019 | B | 278,652 | ||||||||||||||
260,000 | Suffolk County, NY IDA (ALIA-WORCA)1 | 7.000 | 06/01/2016 | 03/30/2013 | A | 262,166 | ||||||||||||||
300,000 | Suffolk County, NY IDA (Catholic Charities)1 | 6.000 | 10/01/2020 | 02/13/2017 | B | 285,804 | ||||||||||||||
300,000 | Suffolk County, NY IDA (DDI)1 | 6.000 | 10/01/2020 | 02/13/2017 | B | 285,804 | ||||||||||||||
300,000 | Suffolk County, NY IDA (DDI)1 | 6.000 | 10/01/2020 | 02/16/2017 | B | 285,804 | ||||||||||||||
1,065,000 | Suffolk County, NY IDA (Dowling College)1 | 5.000 | 06/01/2018 | 06/01/2018 | 1,011,068 | |||||||||||||||
12,000,000 | Suffolk County, NY IDA (Engel Berman at East Northport)1 | 7.125 | 11/01/2049 | 11/01/2012 | A | 12,082,560 | ||||||||||||||
24,135,000 | Suffolk County, NY IDA (Engel Berman at East Northport)1 | 7.125 | 11/01/2049 | 11/01/2012 | A | 24,301,049 | ||||||||||||||
90,000 | Suffolk County, NY IDA (Family Residences)1 | 6.000 | 10/01/2015 | 05/12/2014 | B | 88,720 | ||||||||||||||
320,000 | Suffolk County, NY IDA (Family Residences), Series A1 | 6.375 | 12/01/2018 | 03/14/2016 | B | 313,696 | ||||||||||||||
2,185,000 | Suffolk County, NY IDA (Family Residences), Series A1 | 6.375 | 12/01/2018 | 03/02/2016 | B | 2,141,956 | ||||||||||||||
600,000 | Suffolk County, NY IDA (Independent Group Home Living)1 | 6.000 | 10/01/2020 | 02/17/2017 | B | 571,608 | ||||||||||||||
255,000 | Suffolk County, NY IDA (L.I. Network Community Services)1 | 7.000 | 02/01/2014 | 11/19/2012 | B | 257,859 | ||||||||||||||
240,000 | Suffolk County, NY IDA (Mattituck-Laurel Library)1 | 6.000 | 09/01/2019 | 01/31/2012 | A | 242,009 | ||||||||||||||
250,000 | Suffolk County, NY IDA (Nassau-Suffolk Services for Autism)1 | 6.250 | 11/01/2016 | 11/30/2014 | B | 253,388 |
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 90,000 | Suffolk County, NY IDA (Nassau-Suffolk Services for Autism)1 | 6.250 | % | 11/01/2016 | 05/01/2012 | A | $ | 90,095 | |||||||||||
700,000 | Suffolk County, NY IDA (New York Institute of Technology)1 | 5.250 | 03/01/2017 | 03/01/2015 | A | 759,885 | ||||||||||||||
1,000,000 | Suffolk County, NY IDA (New York Institute of Technology)1 | 5.250 | 03/01/2018 | 03/01/2015 | A | 1,079,330 | ||||||||||||||
500,000 | Suffolk County, NY IDA (New York Institute of Technology)1 | 5.250 | 03/01/2019 | 03/01/2015 | A | 536,460 | ||||||||||||||
720,000 | Suffolk County, NY IDA (New York Institute of Technology)1 | 5.250 | 03/01/2020 | 03/01/2015 | A | 768,377 | ||||||||||||||
1,000,000 | Suffolk County, NY IDA (New York Institute of Technology)1 | 5.250 | 03/01/2021 | 03/01/2015 | A | 1,060,070 | ||||||||||||||
1,650,000 | Suffolk County, NY IDA (Nissequogue Cogeneration Partners)1 | 5.500 | 01/01/2023 | 04/23/2019 | B | 1,607,150 | ||||||||||||||
505,000 | Suffolk County, NY IDA (Pederson-Krager Center)1 | 6.375 | 11/01/2015 | 06/02/2014 | B | 490,633 | ||||||||||||||
435,000 | Suffolk County, NY IDA (Pederson-Krager Center)1 | 6.400 | 02/01/2015 | 08/30/2013 | B | 422,611 | ||||||||||||||
200,000 | Suffolk County, NY IDA (Suffolk Hotels)1 | 6.000 | 10/01/2020 | 02/06/2017 | B | 190,536 | ||||||||||||||
500,000 | Suffolk County, NY IDA (WORCA)1 | 6.000 | 10/01/2020 | 02/21/2017 | B | 476,340 | ||||||||||||||
30,000 | Syracuse, NY Hsg. Authority1 | 5.400 | 09/01/2021 | 09/01/2012 | A | 31,224 | ||||||||||||||
25,000 | Syracuse, NY IDA (Jewish Home of Central New York)1 | 7.375 | 03/01/2021 | 04/02/2017 | B | 23,274 | ||||||||||||||
450,000 | Syracuse, NY IDA (One Center Armory Garage) | 6.750 | 12/01/2017 | 01/31/2012 | A | 450,176 | ||||||||||||||
900,000 | Tompkins County, NY IDA (Kendall at Ithaca)1 | 5.750 | 07/01/2018 | 01/31/2012 | A | 910,809 | ||||||||||||||
2,000,000 | Tompkins County, NY IDA (Kendall at Ithaca)1 | 6.000 | 07/01/2024 | 01/31/2012 | A | 2,017,900 | ||||||||||||||
100,000 | Tompkins, NY Health Care Corp. (Reconstruction Home)1 | 5.875 | 02/01/2033 | 02/01/2012 | A | 100,155 | ||||||||||||||
375,000 | Tompkins, NY Health Care Corp. (Reconstruction Home)1 | 10.800 | 02/01/2028 | 02/01/2012 | A | 392,235 | ||||||||||||||
15,000,000 | Troy, NY Capital Resource Corp. (Rensselaer Polytechnic Institute)1 | 5.000 | 09/01/2030 | 09/01/2020 | A | 15,669,450 | ||||||||||||||
10,000 | Ulster County, NY GO1 | 5.400 | 11/15/2013 | 05/15/2012 | A | 10,188 | ||||||||||||||
10,000 | Ulster County, NY GO1 | 5.400 | 11/15/2015 | 05/15/2012 | A | 10,188 | ||||||||||||||
25,000 | Ulster County, NY GO1 | 5.500 | 11/15/2012 | 05/15/2012 | A | 25,488 | ||||||||||||||
155,000 | Ulster County, NY Res Rec1 | 5.000 | 03/01/2016 | 03/01/2016 | 170,364 | |||||||||||||||
160,000 | Ulster County, NY Res Rec1 | 5.000 | 03/01/2017 | 03/01/2016 | A | 175,088 | ||||||||||||||
170,000 | Ulster County, NY Res Rec1 | 5.000 | 03/01/2018 | 03/01/2016 | A | 185,006 | ||||||||||||||
360,000 | Ulster County, NY Tobacco Asset Securitization Corp.1 | 6.000 | 06/01/2040 | 01/25/2029 | B | 310,518 | ||||||||||||||
75,000 | Ulster County, NY Tobacco Asset Securitization Corp.1 | 6.250 | 06/01/2025 | 11/16/2016 | B | 72,527 |
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 830,000 | Ulster County, NY Tobacco Asset Securitization Corp.1 | 6.450 | % | 06/01/2040 | 09/21/2027 | B | $ | 726,765 | |||||||||||
10,730,000 | Ulster County, NY Tobacco Asset Securitization Corp.1 | 6.750 | 06/01/2030 | 09/29/2020 | B | 10,299,834 | ||||||||||||||
125,000 | Utica, NY IDA (Munson-Williams-Proctor Arts Institute)1 | 5.375 | 07/15/2019 | 01/31/2012 | A | 125,446 | ||||||||||||||
75,000 | Utica, NY IDA (Munson-Williams-Proctor Arts Institute)1 | 5.400 | 07/15/2030 | 07/15/2012 | A | 75,666 | ||||||||||||||
20,000 | Utica, NY IDA (Munson-Williams-Proctor Arts Institute)1 | 5.500 | 07/15/2016 | 01/31/2012 | A | 20,074 | ||||||||||||||
25,000 | Utica, NY IDA (Munson-Williams-Proctor Arts Institute)1 | 5.500 | 07/15/2029 | 01/31/2012 | A | 25,037 | ||||||||||||||
3,000,000 | Utica, NY IDA (Utica College Civic Facility)1 | 6.850 | 12/01/2031 | 12/01/2012 | A | 3,058,260 | ||||||||||||||
100,000 | Westchester County, NY GO1 | 5.375 | 12/15/2012 | 06/15/2012 | A | 102,317 | ||||||||||||||
50,000 | Westchester County, NY GO1 | 5.375 | 12/15/2013 | 06/15/2012 | A | 51,069 | ||||||||||||||
80,000 | Westchester County, NY IDA (Clearview School)1 | 6.600 | 01/01/2014 | 12/31/2012 | B | 80,570 | ||||||||||||||
295,000 | Westchester County, NY IDA (Guiding Eyes for the Blind)1 | 4.500 | 08/01/2012 | 08/01/2012 | 297,891 | |||||||||||||||
855,000 | Westchester County, NY IDA (JDAM)1 | 6.750 | 04/01/2016 | 04/01/2012 | A | 858,146 | ||||||||||||||
280,000 | Westchester County, NY IDA (Purchase College Foundation Hsg. Corp.)1 | 5.500 | 12/01/2015 | 01/31/2012 | A | 286,216 | ||||||||||||||
1,930,000 | Westchester County, NY IDA (Rippowam-Cisqua School)1 | 5.750 | 06/01/2029 | 01/31/2012 | A | 1,930,502 | ||||||||||||||
85,000 | Westchester County, NY IDA (Westchester Airport Assoc.) | 5.850 | 08/01/2014 | 02/01/2012 | A | 85,266 | ||||||||||||||
690,000 | Westchester County, NY IDA (Westchester Airport Assoc.)1 | 5.950 | 08/01/2024 | 02/01/2012 | A | 691,014 | ||||||||||||||
100,000 | Westchester County, NY IDA (Winward School)1 | 5.200 | 10/01/2021 | 01/31/2012 | A | 100,083 | ||||||||||||||
6,705,000 | Westchester County, NY Tobacco Asset Securitization Corp.1 | 4.500 | 06/01/2021 | 07/05/2012 | B | 6,493,994 | ||||||||||||||
10,700,000 | Westchester County, NY Tobacco Asset Securitization Corp.1 | 5.000 | 06/01/2026 | 05/30/2018 | B | 10,105,508 | ||||||||||||||
85,000 | White Plains, NY HDC (Battle Hill)1 | 6.650 | 02/01/2025 | 01/31/2012 | A | 85,160 | ||||||||||||||
1,000,000 | Yonkers, NY EDC (Charter School of Educational Excellence1 | 6.000 | 10/15/2030 | 11/17/2024 | B | 991,000 | ||||||||||||||
2,000,000 | Yonkers, NY GO1 | 5.000 | 10/01/2023 | 10/01/2021 | A | 2,206,300 | ||||||||||||||
1,000,000 | Yonkers, NY GO1 | 5.000 | 10/01/2024 | 10/01/2021 | A | 1,083,820 | ||||||||||||||
80,000 | Yonkers, NY IDA (Michael Malotz Skilled Nursing Pavilion)1 | 5.450 | 02/01/2029 | 02/01/2012 | A | 80,116 | ||||||||||||||
295,000 | Yonkers, NY IDA (Michael Malotz Skilled Nursing Pavilion)1 | 5.650 | 02/01/2039 | 02/01/2012 | A | 295,366 |
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
New York Continued | ||||||||||||||||||||
$ | 1,455,000 | Yonkers, NY IDA (Monastery Manor Associates)1 | 5.000 | % | 04/01/2025 | 04/01/2015 | A | $ | 1,500,440 | |||||||||||
1,250,000 | Yonkers, NY IDA (Sarah Lawrence College)1 | 5.750 | 06/01/2024 | 06/01/2019 | A | 1,403,263 | ||||||||||||||
600,000 | Yonkers, NY IDA (Sarah Lawrence College)1 | 6.000 | 06/01/2029 | 06/01/2019 | A | 658,794 | ||||||||||||||
1,350,000 | Yonkers, NY IDA (St. John’s Riverside Hospital)1 | 6.800 | 07/01/2016 | 07/01/2012 | A | 1,355,495 | ||||||||||||||
3,370,638,660 | ||||||||||||||||||||
U.S. Possessions—28.3% | ||||||||||||||||||||
9,210,000 | Guam Airport Authority, Series C1 | 5.375 | 10/01/2019 | 10/01/2013 | A | 9,495,786 | ||||||||||||||
6,000,000 | Guam Airport Authority, Series C1 | 5.375 | 10/01/2020 | 10/01/2013 | A | 6,168,660 | ||||||||||||||
192,000 | Guam EDA (TASC)1 | 5.300 | 05/15/2014 | 05/15/2014 | 212,698 | |||||||||||||||
3,200,000 | Guam Education Financing Foundation COP (Guam Public School Facilities)1 | 4.500 | 10/01/2026 | 10/01/2026 | 2,836,192 | |||||||||||||||
5,000,000 | Guam Government Waterworks Authority & Wastewater System1 | 5.250 | 07/01/2025 | 08/08/2023 | B | 4,856,450 | ||||||||||||||
50,000 | Guam International Airport Authority1 | 4.500 | 10/01/2014 | 10/01/2013 | A | 51,259 | ||||||||||||||
10,000 | Guam International Airport Authority1 | 5.000 | 10/01/2023 | 10/01/2013 | A | 10,122 | ||||||||||||||
25,000 | Guam International Airport Authority1 | 5.250 | 10/01/2016 | 10/01/2013 | A | 26,023 | ||||||||||||||
1,290,000 | Guam Power Authority, Series A1 | 5.000 | 10/01/2018 | 10/13/2017 | B | 1,282,970 | ||||||||||||||
25,000 | Guam Power Authority, Series A1 | 5.000 | 10/01/2024 | 07/23/2023 | B | 24,550 | ||||||||||||||
15,000 | Guam Power Authority, Series A | 5.250 | 10/01/2013 | 01/31/2012 | A | 15,034 | ||||||||||||||
230,000 | Guam Power Authority, Series A | 5.250 | 10/01/2013 | 01/31/2012 | A | 230,515 | ||||||||||||||
50,000 | Guam Power Authority, Series A1 | 5.250 | 10/01/2014 | 01/31/2012 | A | 50,008 | ||||||||||||||
710,000 | Guam Power Authority, Series A1 | 5.250 | 10/01/2023 | 09/02/2019 | B | 680,201 | ||||||||||||||
655,000 | Guam Power Authority, Series A1 | 5.250 | 10/01/2023 | 09/02/2019 | B | 627,510 | ||||||||||||||
40,000 | Guam Power Authority, Series A1 | 5.250 | 10/01/2034 | 11/07/2032 | B | 38,677 | ||||||||||||||
195,000 | Guam Tobacco Settlement Economic Devel. & Commerce Authority (TASC)1 | 5.250 | 06/01/2032 | 04/13/2018 | B | 179,952 | ||||||||||||||
375,000 | Puerto Rico Children’s Trust Fund (TASC)1 | 4.100 | 05/15/2013 | 05/15/2012 | A | 378,210 | ||||||||||||||
200,000 | Puerto Rico Children’s Trust Fund (TASC)1 | 4.250 | 05/15/2014 | 05/15/2012 | A | 201,388 | ||||||||||||||
210,235,000 | Puerto Rico Children’s Trust Fund (TASC)1 | 5.375 | 05/15/2033 | 11/23/2016 | B | 198,249,503 | ||||||||||||||
68,875,000 | Puerto Rico Children’s Trust Fund (TASC)1 | 5.500 | 05/15/2039 | 11/04/2026 | B | 58,224,170 | ||||||||||||||
30,755,000 | Puerto Rico Children’s Trust Fund (TASC)1 | 5.625 | 05/15/2043 | 01/22/2032 | B | 26,212,487 | ||||||||||||||
17,500,000 | Puerto Rico Commonwealth GO1 | 4.750 | 12/01/2015 | 12/01/2012 | A | 18,022,900 | ||||||||||||||
50,000 | Puerto Rico Commonwealth GO1 | 5.000 | 07/01/2026 | 01/31/2012 | A | 50,012 | ||||||||||||||
50,000 | Puerto Rico Commonwealth GO1 | 5.000 | 07/01/2028 | 01/31/2012 | A | 50,012 | ||||||||||||||
2,000,000 | Puerto Rico Commonwealth GO1 | 5.000 | 07/01/2030 | 07/01/2012 | D | 2,031,440 | ||||||||||||||
2,660,000 | Puerto Rico Commonwealth GO1 | 5.125 | 07/01/2031 | 01/31/2012 | A | 2,660,346 | ||||||||||||||
7,000,000 | Puerto Rico Commonwealth GO1 | 5.250 | 01/01/2015 | 07/05/2014 | B | 7,416,990 | ||||||||||||||
880,000 | Puerto Rico Commonwealth GO1 | 5.250 | 07/01/2018 | 07/01/2013 | A | 916,203 | ||||||||||||||
900,000 | Puerto Rico Commonwealth GO1 | 5.250 | 07/01/2019 | 07/01/2013 | A | 920,682 |
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
U.S. Possessions Continued | ||||||||||||||||||||
$ | 500,000 | Puerto Rico Commonwealth GO1 | 5.250 | % | 07/01/2020 | 07/01/2014 | A | $ | 532,095 | |||||||||||
2,430,000 | Puerto Rico Commonwealth GO1 | 5.250 | 07/01/2021 | 07/01/2014 | A | 2,570,527 | ||||||||||||||
4,795,000 | Puerto Rico Commonwealth GO1 | 5.250 | 07/01/2022 | 07/01/2014 | A | 5,041,415 | ||||||||||||||
1,850,000 | Puerto Rico Commonwealth GO1 | 5.250 | 07/01/2022 | 07/01/2016 | A | 1,926,239 | ||||||||||||||
11,000,000 | Puerto Rico Commonwealth GO1 | 5.250 | 07/01/2023 | 07/01/2013 | A | 11,141,680 | ||||||||||||||
4,575,000 | Puerto Rico Commonwealth GO1 | 5.250 | 07/01/2023 | 07/01/2014 | A | 4,785,359 | ||||||||||||||
14,850,000 | Puerto Rico Commonwealth GO1 | 5.250 | 07/01/2024 | 07/01/2013 | A | 15,018,696 | ||||||||||||||
21,785,000 | Puerto Rico Commonwealth GO1 | 5.250 | 07/01/2025 | 07/01/2016 | A | 22,368,402 | ||||||||||||||
9,750,000 | Puerto Rico Commonwealth GO1 | 5.250 | 07/01/2027 | 07/01/2016 | A | 9,999,113 | ||||||||||||||
15,000 | Puerto Rico Commonwealth GO1 | 5.250 | 07/01/2029 | 07/01/2017 | A | 15,385 | ||||||||||||||
2,840,000 | Puerto Rico Commonwealth GO1 | 5.250 | 07/01/2030 | 07/01/2016 | A | 2,889,473 | ||||||||||||||
5,000,000 | Puerto Rico Commonwealth GO1 | 5.250 | 07/01/2030 | 07/01/2017 | A | 5,104,050 | ||||||||||||||
11,735,000 | Puerto Rico Commonwealth GO1 | 5.250 | 07/01/2032 | 07/01/2016 | A | 11,868,427 | ||||||||||||||
14,750,000 | Puerto Rico Commonwealth GO1 | 5.250 | 07/01/2032 | 07/01/2017 | A | 14,950,305 | ||||||||||||||
6,060,000 | Puerto Rico Commonwealth GO1 | 5.375 | 07/01/2028 | 01/31/2012 | A | 6,063,333 | ||||||||||||||
3,000,000 | Puerto Rico Commonwealth GO1 | 5.500 | 07/01/2019 | 07/01/2019 | 3,358,470 | |||||||||||||||
13,100,000 | Puerto Rico Commonwealth GO1 | 5.500 | 07/01/2023 | 07/01/2018 | A | 13,941,544 | ||||||||||||||
1,320,000 | Puerto Rico Commonwealth GO1 | 6.000 | 07/01/2027 | 07/01/2018 | A | 1,421,693 | ||||||||||||||
10,000,000 | Puerto Rico Commonwealth GO1 | 6.000 | 07/01/2029 | 07/01/2016 | A | 10,607,300 | ||||||||||||||
1,950,000 | Puerto Rico Commonwealth GO1 | 6.500 | 07/01/2037 | 07/01/2019 | A | 2,157,441 | ||||||||||||||
28,360,000 | Puerto Rico Electric Power Authority, Series AAA1 | 5.250 | 07/01/2022 | 07/01/2020 | A | 31,585,666 | ||||||||||||||
10,920,000 | Puerto Rico Electric Power Authority, Series AAA1 | 5.250 | 07/01/2023 | 07/01/2020 | A | 12,015,494 | ||||||||||||||
11,490,000 | Puerto Rico Electric Power Authority, Series AAA1 | 5.250 | 07/01/2024 | 07/01/2020 | A | 12,482,047 | ||||||||||||||
12,095,000 | Puerto Rico Electric Power Authority, Series AAA1 | 5.250 | 07/01/2025 | 07/01/2020 | A | 13,035,507 | ||||||||||||||
24,000,000 | Puerto Rico Electric Power Authority, Series AAA1 | 5.250 | 07/01/2027 | 07/01/2020 | A | 25,530,240 | ||||||||||||||
4,905,000 | Puerto Rico Electric Power Authority, Series CCC1 | 5.250 | 07/01/2028 | 07/01/2020 | A | 5,185,615 | ||||||||||||||
5,000,000 | Puerto Rico Electric Power Authority, Series JJ1 | 5.375 | 07/01/2017 | 07/01/2017 | 5,694,750 | |||||||||||||||
12,500,000 | Puerto Rico Electric Power Authority, Series WW1 | 5.250 | 07/01/2025 | 07/01/2018 | A | 13,273,000 | ||||||||||||||
85,000 | Puerto Rico HFA1 | 5.000 | 12/01/2020 | 12/01/2013 | A | 89,254 | ||||||||||||||
125,000 | Puerto Rico HFC1 | 5.100 | 12/01/2018 | 06/01/2012 | A | 125,866 | ||||||||||||||
90,000 | Puerto Rico Highway & Transportation Authority1 | 5.000 | 07/01/2022 | 07/01/2012 | A | 90,847 | ||||||||||||||
90,000 | Puerto Rico Highway & Transportation Authority1 | 5.000 | 07/01/2028 | 07/01/2013 | A | 90,498 |
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
U.S. Possessions Continued | ||||||||||||||||||||
$ | 35,000 | Puerto Rico Highway & Transportation Authority1 | 5.000 | % | 07/01/2028 | 07/01/2012 | A | $ | 35,066 | |||||||||||
45,000 | Puerto Rico Highway & Transportation Authority1 | 5.250 | 07/01/2014 | 07/01/2012 | A | 45,687 | ||||||||||||||
425,000 | Puerto Rico Highway & Transportation Authority1 | 5.750 | 07/01/2019 | 07/01/2013 | A | 443,037 | ||||||||||||||
230,000 | Puerto Rico Highway & Transportation Authority1 | 5.750 | 07/01/2020 | 07/01/2013 | A | 240,454 | ||||||||||||||
5,060,000 | Puerto Rico Highway & Transportation Authority1 | 5.750 | 07/01/2021 | 07/01/2013 | A | 5,289,977 | ||||||||||||||
7,995,000 | Puerto Rico Highway & Transportation Authority1 | 5.750 | 07/01/2022 | 07/01/2013 | A | 8,358,373 | ||||||||||||||
7,000,000 | Puerto Rico Highway & Transportation Authority, Series E1 | 5.750 | 07/01/2024 | 07/01/2012 | A | 7,044,380 | ||||||||||||||
2,145,000 | Puerto Rico Highway & Transportation Authority, Series G1 | 5.250 | 07/01/2018 | 07/01/2013 | A | 2,300,877 | ||||||||||||||
785,000 | Puerto Rico Highway & Transportation Authority, Series G1 | 5.250 | 07/01/2019 | 07/01/2013 | A | 842,046 | ||||||||||||||
390,000 | Puerto Rico Highway & Transportation Authority, Series G1 | 5.250 | 07/01/2019 | 07/01/2013 | A | 403,705 | ||||||||||||||
4,355,000 | Puerto Rico Highway & Transportation Authority, Series K1 | 5.000 | 07/01/2021 | 07/01/2015 | A | 4,485,258 | ||||||||||||||
11,000,000 | Puerto Rico Highway & Transportation Authority, Series K1 | 5.000 | 07/01/2022 | 07/01/2015 | A | 11,271,260 | ||||||||||||||
12,275,000 | Puerto Rico Highway & Transportation Authority, Series K1 | 5.000 | 07/01/2023 | 07/01/2015 | A | 12,529,584 | ||||||||||||||
12,760,000 | Puerto Rico Highway & Transportation Authority, Series K1 | 5.000 | 07/01/2024 | 07/01/2015 | A | 12,981,131 | ||||||||||||||
14,545,000 | Puerto Rico Highway & Transportation Authority, Series K1 | 5.000 | 07/01/2025 | 07/01/2015 | A | 14,738,303 | ||||||||||||||
16,725,000 | Puerto Rico Highway & Transportation Authority, Series K1 | 5.000 | 07/01/2026 | 07/01/2015 | A | 16,925,700 | ||||||||||||||
1,000,000 | Puerto Rico Highway & Transportation Authority, Series K1 | 5.000 | 07/01/2027 | 07/01/2015 | A | 1,012,320 | ||||||||||||||
160,000 | Puerto Rico Industrial Devel. Company, Series B1 | 5.375 | 07/01/2016 | 01/31/2012 | A | 160,314 | ||||||||||||||
780,000 | Puerto Rico Infrastructure1 | 5.000 | 07/01/2019 | 07/01/2016 | A | 821,239 | ||||||||||||||
5,000,000 | Puerto Rico Infrastructure1 | 5.500 | 07/01/2021 | 07/01/2021 | 5,535,950 | |||||||||||||||
8,100,000 | Puerto Rico Infrastructure1 | 6.000 | 12/15/2026 | 12/15/2021 | A | 9,083,664 | ||||||||||||||
145,000 | Puerto Rico Infrastructure (Mepsi Campus)1 | 5.600 | 10/01/2014 | 07/16/2013 | B | 148,247 | ||||||||||||||
4,250,000 | Puerto Rico Infrastructure Financing Authority1 | 5.500 | 07/01/2023 | 07/01/2023 | 4,658,383 | |||||||||||||||
2,905,000 | Puerto Rico ITEMECF (Ana G. Mendez University)1 | 5.375 | 02/01/2019 | 02/01/2012 | A | 2,906,453 | ||||||||||||||
34,610,000 | Puerto Rico ITEMECF (Cogeneration Facilities) | 6.625 | 06/01/2026 | 01/31/2012 | A | 34,610,692 |
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
U.S. Possessions Continued | ||||||||||||||||||||
$ | 1,500,000 | Puerto Rico ITEMECF (Dr. Pila Hospital)1 | 6.125 | % | 08/01/2025 | 02/01/2012 | A | $ | 1,502,265 | |||||||||||
45,000 | Puerto Rico ITEMECF (Guaynabo Municipal Government Center)1 | 5.625 | 07/01/2015 | 01/31/2012 | A | 45,132 | ||||||||||||||
15,645,000 | Puerto Rico ITEMECF (Hospital Auxilio Mutuo)1 | 6.250 | 07/01/2026 | 07/01/2016 | A | 16,795,846 | ||||||||||||||
75,000 | Puerto Rico ITEMECF (Hospital de la Concepcion)1 | 6.125 | 11/15/2025 | 01/31/2012 | A | 75,265 | ||||||||||||||
615,000 | Puerto Rico ITEMECF (Hospital de la Concepcion)1 | 6.375 | 11/15/2015 | 01/31/2012 | A | 617,442 | ||||||||||||||
2,000,000 | Puerto Rico ITEMECF (Hospital de la Concepcion)1 | 6.500 | 11/15/2020 | 01/31/2012 | A | 2,007,680 | ||||||||||||||
100,000 | Puerto Rico ITEMECF (InterAmerican University)1 | 5.000 | 10/01/2015 | 01/31/2012 | A | 100,283 | ||||||||||||||
155,000 | Puerto Rico ITEMECF (InterAmerican University)1 | 5.000 | 10/01/2022 | 01/31/2012 | A | 155,144 | ||||||||||||||
2,190,000 | Puerto Rico ITEMECF (University Plaza)1 | 5.625 | 07/01/2015 | 07/01/2012 | A | 2,227,471 | ||||||||||||||
2,215,000 | Puerto Rico ITEMECF (University Plaza)1 | 5.625 | 07/01/2016 | 07/01/2012 | A | 2,252,899 | ||||||||||||||
2,345,000 | Puerto Rico ITEMECF (University Plaza)1 | 5.625 | 07/01/2017 | 07/01/2012 | A | 2,385,123 | ||||||||||||||
355,000 | Puerto Rico ITEMECF (University Plaza)1 | 5.625 | 07/01/2018 | 07/01/2012 | A | 361,074 | ||||||||||||||
1,875,000 | Puerto Rico ITEMECF (University Plaza)1 | 5.625 | 07/01/2019 | 07/01/2012 | A | 1,907,081 | ||||||||||||||
9,400,000 | Puerto Rico Municipal Finance Agency, Series A1 | 5.250 | 08/01/2023 | 08/01/2015 | A | 9,673,634 | ||||||||||||||
10,000,000 | Puerto Rico Municipal Finance Agency, Series A1 | 5.250 | 08/01/2024 | 08/01/2015 | A | 10,257,400 | ||||||||||||||
305,000 | Puerto Rico Municipal Finance Agency, Series A | 5.500 | 07/01/2017 | 01/31/2012 | A | 305,833 | ||||||||||||||
70,000 | Puerto Rico Municipal Finance Agency, Series B | 5.750 | 08/01/2012 | 02/01/2012 | A | 70,277 | ||||||||||||||
25,000 | Puerto Rico Municipal Finance Agency, Series B1 | 5.750 | 08/01/2013 | 02/01/2012 | A | 25,074 | ||||||||||||||
6,880,000 | Puerto Rico Public Buildings Authority1 | 5.000 | 07/01/2028 | 07/01/2012 | D | 6,982,581 | ||||||||||||||
11,560,000 | Puerto Rico Public Buildings Authority1 | 5.000 | 07/01/2036 | 07/01/2012 | D | 11,732,360 | ||||||||||||||
545,000 | Puerto Rico Public Buildings Authority1 | 5.125 | 07/01/2024 | 07/01/2012 | A | 546,095 | ||||||||||||||
14,280,000 | Puerto Rico Public Buildings Authority1 | 5.250 | 07/01/2029 | 07/01/2014 | A | 14,408,092 | ||||||||||||||
5,000,000 | Puerto Rico Public Buildings Authority1 | 5.500 | 07/01/2016 | 07/01/2016 | 5,495,200 | |||||||||||||||
2,060,000 | Puerto Rico Public Buildings Authority1 | 5.500 | 07/01/2021 | 07/01/2017 | A | 2,183,621 | ||||||||||||||
3,255,000 | Puerto Rico Public Buildings Authority1 | 5.500 | 07/01/2025 | 07/01/2017 | A | 3,361,666 | ||||||||||||||
13,195,000 | Puerto Rico Public Buildings Authority1 | 5.500 | 07/01/2026 | 07/01/2017 | A | 13,608,135 | ||||||||||||||
1,250,000 | Puerto Rico Public Buildings Authority1 | 5.500 | 07/01/2035 | 07/01/2017 | D | 1,361,100 | ||||||||||||||
1,400,000 | Puerto Rico Public Buildings Authority1 | 5.750 | 07/01/2034 | 07/01/2017 | D | 1,541,708 | ||||||||||||||
8,795,000 | Puerto Rico Public Buildings Authority1 | 7.000 | 07/01/2021 | 07/01/2014 | A | 9,819,793 | ||||||||||||||
31,150,000 | Puerto Rico Public Buildings Authority1 | 7.000 | 07/01/2025 | 06/01/2014 | A | 34,024,522 |
Effective | ||||||||||||||||||||
Principal | Maturity | |||||||||||||||||||
Amount | Coupon | Maturity | (Unaudited)** | Value | ||||||||||||||||
U.S. Possessions Continued | ||||||||||||||||||||
$ | 825,000 | Puerto Rico Public Buildings Authority, Series G1 | 5.250 | % | 07/01/2019 | 07/01/2012 | A | $ | 830,676 | |||||||||||
205,030,000 | Puerto Rico Public Finance Corp., Series A1 | 6.500 | 08/01/2028 | 08/01/2016 | A | 218,260,586 | ||||||||||||||
19,000,000 | Puerto Rico Sales Tax Financing Corp., Series A1 | 5.625 | 08/01/2030 | 02/01/2015 | A | 20,008,520 | ||||||||||||||
2,100,000 | Puerto Rico Sales Tax Financing Corp., Series A1 | 6.125 | 08/01/2029 | 02/01/2014 | A | 2,348,619 | ||||||||||||||
73,575,000 | Puerto Rico Sales Tax Financing Corp., Series A1 | 6.125 | 08/01/2029 | 02/01/2014 | A | 78,057,925 | ||||||||||||||
4,080,000 | University of Puerto Rico1 | 5.000 | 06/01/2025 | 06/01/2016 | A | 4,150,135 | ||||||||||||||
2,750,000 | University of Puerto Rico1 | 5.000 | 06/01/2026 | 06/01/2016 | A | 2,787,400 | ||||||||||||||
75,000 | University of Puerto Rico | 5.500 | 06/01/2012 | 01/31/2012 | A | 75,210 | ||||||||||||||
7,470,000 | University of Puerto Rico, Series P1 | 5.000 | 06/01/2021 | 06/01/2016 | A | 7,744,821 | ||||||||||||||
8,500,000 | University of Puerto Rico, Series P1 | 5.000 | 06/01/2022 | 06/01/2016 | A | 8,771,065 | ||||||||||||||
5,645,000 | University of Puerto Rico, Series P1 | 5.000 | 06/01/2030 | 06/01/2016 | A | 5,654,766 | ||||||||||||||
8,410,000 | University of Puerto Rico, Series Q1 | 5.000 | 06/01/2023 | 06/01/2016 | A | 8,634,799 | ||||||||||||||
300,000 | University of Puerto Rico, Series Q1 | 5.000 | 06/01/2030 | 06/01/2016 | A | 300,519 | ||||||||||||||
5,250,000 | V.I. Government Refinery Facilities (Hovensa Coker)1 | 6.500 | 07/01/2021 | 10/01/2017 | B | 5,073,548 | ||||||||||||||
75,000 | V.I. HFA, Series A1 | 6.500 | 03/01/2025 | 01/31/2012 | A | 75,047 | ||||||||||||||
25,000 | V.I. Port Authority, Series A1 | 5.000 | 09/01/2023 | 01/31/2012 | A | 25,024 | ||||||||||||||
2,580,000 | V.I. Port Authority, Series A1 | 5.250 | 09/01/2018 | 01/31/2012 | A | 2,585,186 | ||||||||||||||
7,000,000 | V.I. Public Finance Authority (Hovensa Refinery)1 | 4.700 | 07/01/2022 | 10/01/2018 | B | 5,777,730 | ||||||||||||||
4,825,000 | V.I. Public Finance Authority (Hovensa Refinery)1 | 5.875 | 07/01/2022 | 10/02/2018 | B | 4,427,661 | ||||||||||||||
1,075,000 | V.I. Public Finance Authority (Matching Fund Loan Note)1 | 5.250 | 10/01/2021 | 10/01/2014 | A | 1,118,398 | ||||||||||||||
620,000 | V.I. Public Finance Authority (Matching Fund Loan Note)1 | 6.750 | 10/01/2037 | 10/01/2019 | A | 676,811 | ||||||||||||||
1,000,000 | V.I. Public Finance Authority, Series A1 | 5.250 | 10/01/2016 | 10/01/2014 | A | 1,067,090 | ||||||||||||||
2,000,000 | V.I. Public Finance Authority, Series A1 | 5.250 | 10/01/2022 | 10/01/2014 | A | 2,070,760 | ||||||||||||||
2,000,000 | V.I. Public Finance Authority, Series A1 | 5.250 | 10/01/2023 | 10/01/2014 | A | 2,060,640 | ||||||||||||||
11,005,000 | V.I. Public Finance Authority, Series A1 | 6.375 | 10/01/2019 | 01/31/2012 | A | 11,031,852 | ||||||||||||||
1,015,000 | V.I. Tobacco Settlement Financing Corp. (TASC) | 4.750 | 05/15/2012 | 01/31/2012 | A | 1,017,690 | ||||||||||||||
80,000 | V.I. Tobacco Settlement Financing Corp. (TASC)1 | 4.950 | 05/15/2014 | 01/31/2012 | A | 80,169 | ||||||||||||||
1,010,000 | V.I. Tobacco Settlement Financing Corp. (TASC)1 | 5.000 | 05/15/2021 | 02/14/2013 | B | 965,843 | ||||||||||||||
1,440,000 | V.I. Tobacco Settlement Financing Corp. (TASC)1 | 5.000 | 05/15/2031 | 06/10/2018 | B | 1,241,423 | ||||||||||||||
3,500,000 | V.I. Water & Power Authority1 | 5.500 | 07/01/2017 | 01/31/2012 | A | 3,507,350 | ||||||||||||||
1,320,209,840 | ||||||||||||||||||||
Total Investments, at Value (Cost $4,647,341,823)—100.6% | 4,690,848,500 | |||||||||||||||||||
Liabilities in Excess of Other Assets—(0.6) | (27,822,510 | ) | ||||||||||||||||||
Net Assets—100.0% | $ | 4,663,025,990 | ||||||||||||||||||
* | December 30, 2011 represents the last business day of the Fund’s 2011 fiscal year. See Note 1 of the accompanying Notes. | |
** | Call Date, Put Date or Average Life of Sinking Fund, if applicable, as detailed. | |
A. | Optional call date; corresponds to the most conservative yield calculation. | |
B. | Average life due to mandatory, or expected, sinking fund principal payments prior to maturity. | |
C. | Average life due to mandatory, or expected, sinking fund principal payments prior to the applicable optional call date. | |
D. | Date of mandatory put. | |
1. | All or a portion of the security position has been segregated for collateral to cover borrowings. See Note 5 of the accompanying Notes. | |
2. | Represents the current interest rate for a variable or increasing rate security. | |
3. | Security represents the underlying municipal bond with respect to an inverse floating rate security held by the Fund. | |
The bond was purchased by the Fund and subsequently transferred to a trust, which issued the related inverse floating rate security. See Note 1 of the accompanying Notes. | ||
4. | This security is not accruing income because the issuer has missed an interest payment on it and/or is not anticipated to make future interest and/or principal payments. The rate shown is the original contractual interest rate. See Note 1 of the accompanying Notes. | |
5. | When-issued security or delayed delivery to be delivered and settled after December 30, 2011. See Note 1 of the accompanying Notes. |
1) | Level 1—unadjusted quoted prices in active markets for identical assets or liabilities (including securities actively traded on a securities exchange) | ||
2) | Level 2—inputs other than unadjusted quoted prices that are observable for the asset or liability (such as unadjusted quoted prices for similar assets and market corroborated inputs such as interest rates, prepayment speeds, credit risks, etc.) | ||
3) | Level 3—significant unobservable inputs (including the Manager’s own judgments about assumptions that market participants would use in pricing the asset or liability). |
Level 3— | ||||||||||||||||
Level 1— | Level 2— | Significant | ||||||||||||||
Unadjusted | Other Significant | Unobservable | ||||||||||||||
Quoted Prices | Observable Inputs | Inputs | Value | |||||||||||||
Assets Table | ||||||||||||||||
Investments, at Value: | ||||||||||||||||
Municipal Bonds and Notes | ||||||||||||||||
New York | $ | — | $ | 3,363,253,950 | $ | 7,384,710 | $ | 3,370,638,660 | ||||||||
U.S. Possessions | — | 1,320,209,840 | — | 1,320,209,840 | ||||||||||||
Total Assets | $ | — | $ | 4,683,463,790 | $ | 7,384,710 | $ | 4,690,848,500 | ||||||||
Change in | ||||||||||||||||||||
Value as of | unrealized | Value as of | ||||||||||||||||||
December 31, | appreciation/ | December 30, | ||||||||||||||||||
2010 | Realized loss | depreciation | Sales | 2011 | ||||||||||||||||
Assets Table | ||||||||||||||||||||
Investments, at Value: | ||||||||||||||||||||
Municipal Bonds and Notes | ||||||||||||||||||||
New York | $ | 14,592,796 | $ | (629,200 | ) | $ | (1,488,086 | ) | $ | (5,090,800 | ) | $ | 7,384,710 | |||||||
Total Assets | $ | 14,592,796 | $ | (629,200 | ) | $ | (1,488,086 | ) | $ | (5,090,800 | ) | $ | 7,384,710 | |||||||
Change in unrealized | ||||
appreciation/depreciation | ||||
Municipal Bonds and Notes—New York | $ | (1,488,086 | ) |
ACDS | Assoc. for Children with Down Syndrome | |
ALIA | Alliance of Long Island Agencies | |
AOFMHS | Aurelia Osborn Fox Memorial Hospital Society | |
ARC | Assoc. of Retarded Citizens | |
BFCC | Brookdale Family Care Center | |
BID | Business Improvement District | |
BOCES | Board of Cooperative Educational Services | |
CCDRCA | Catholic Charities of the Diocese of Rockville Centre and Affiliates | |
CHSLI | Catholic Health Services of Long Island | |
CMA | Community Mainstreaming Associates, Inc. | |
COP | Certificates of Participation | |
CRR | Center for Rapid Recovery | |
CRV | Crystal Run Village | |
CSMR | Community Services for the Mentally Retarded | |
Con Ed | Consolidated Edison Company | |
DA | Dormitory Authority | |
DDI | Developmental Disabilities Institute | |
DRIVERS | Derivative Inverse Tax Exempt Receipts | |
EDA | Economic Devel. Authority | |
EDC | Economic Devel. Corp. | |
EFC | Environmental Facilities Corp. | |
ERDA | Energy Research and Devel. Authority | |
FNHC | Ferncilff Nursing Home Company | |
FREE | Family Residences and Essential Enterprises | |
GO | General Obligation | |
GSHMC | Good Samaritan Hospital Medical Center | |
HDC | Housing Devel. Corp. | |
HFA | Housing Finance Agency | |
HFC | Housing Finance Corp. | |
HKSB | Helen Keller Services for the Blind | |
IDA | Industrial Devel. Agency | |
IGHL | Independent Group Home for Living | |
ITEMECF | Industrial, Tourist, Educational, Medical and Environmental Community Facilities | |
JDAM | Julia Dyckman Andrus Memorial | |
JFK | John Fitzgerald Kennedy | |
KR | Kateri Residence | |
L.I. | Long Island | |
LILCO | Long Island Lighting Corp. | |
MMC | Mercy Medical Center | |
MMWNHC | Mary Manning Walsh Nursing Home Company | |
MTA | Metropolitan Transportation Authority | |
NSLIJ | North Shore Long Island Jewish | |
NSUH | North Shore University Hospital | |
NSUHGC | North Shore University Hospital at Glen Cove | |
NSUHPL | North Shore University Hospital at Plainview | |
NY/NJ | New York/New Jersey | |
NYC | New York City | |
NYS | New York State | |
NYU | New York University | |
RANS | Revenue Anticipation Notes |
Footnotes to Statement of Investments Continued
RIBS | Residual Interest Bonds | |
Res Rec | Resource Recovery Facility | |
ROLs | Residual Option Longs | |
SAVRS | Select Auction Variable Rate Securities | |
SCHRC | St. Charles Hospital and Rehabilitation Center | |
SCSMC | St. Catherine of Sienna Medical Center | |
SFH | St. Francis Hospital | |
SFTU | Services for the Underserved | |
SONYMA | State of New York Mortgage Agency | |
SUNY | State University of New York | |
SV | Sienna Village | |
TASC | Tobacco Settlement Asset-Backed Bonds | |
TFABs | Tobacco Flexible Amortization Bonds | |
UBF | University of Buffalo Foundation | |
UDC | Urban Devel. Corp. | |
USBFCC | Urban Strategies Brookdale Family Care Center | |
V.I. | United States Virgin Islands | |
WORCA | Working Organization for Retarded Children and Adults | |
YAI | Young Adult Institute | |
YMCA | Young Men’s Christian Assoc. |
Assets | ||||
Investments, at value (cost $4,647,341,823)—see accompanying statement of investments | $ | 4,690,848,500 | ||
Cash | 1,892,593 | |||
Receivables and other assets: | ||||
Interest | 70,246,951 | |||
Investments sold | 22,875,000 | |||
Shares of beneficial interest sold | 13,235,155 | |||
Other | 264,263 | |||
Total assets | 4,799,362,462 | |||
Liabilities | ||||
Payables and other liabilities: | ||||
Payable for short-term floating rate notes issued (See Note 1) | 95,840,000 | |||
Payable on borrowings (See Note 5) | 17,700,000 | |||
Investments purchased (including $11,974,685 | ||||
purchased on a when-issued or delayed delivery basis) | 17,211,697 | |||
Shares of beneficial interest redeemed | 3,480,185 | |||
Distribution and service plan fees | 931,972 | |||
Trustees’ compensation | 800,064 | |||
Transfer and shareholder servicing agent fees | 136,962 | |||
Shareholder communications | 104,598 | |||
Interest expense on borrowings | 1,551 | |||
Other | 129,443 | |||
Total liabilities | 136,336,472 | |||
Net Assets | $ | 4,663,025,990 | ||
Composition of Net Assets | ||||
Paid-in capital | $ | 4,686,906,999 | ||
Accumulated net investment loss | (2,623,774 | ) | ||
Accumulated net realized loss on investments | (64,763,912 | ) | ||
Net unrealized appreciation on investments | 43,506,677 | |||
Net Assets | $ | 4,663,025,990 | ||
1. | December 30, 2011 represents the last business day of the Fund’s 2011 fiscal year. See Note 1 of the accompanying Notes. |
Net Asset Value Per Share | ||||
Class A Shares: | ||||
Net asset value and redemption price per share (based on net assets of $3,253,871,408 and 980,538,780 shares of beneficial interest outstanding) | $ | 3.32 | ||
Maximum offering price per share (net asset value plus sales charge of 3.50% of offering price)1 | $ | 3.44 | ||
Class B Shares: | ||||
Net asset value, redemption price (excludes applicable contingent deferred sales charge) and offering price per share (based on net assets of $35,183,080 and 10,617,117 shares of beneficial interest outstanding) | $ | 3.31 | ||
Class C Shares: | ||||
Net asset value, redemption price (excludes applicable contingent deferred sales charge) and offering price per share (based on net assets of $1,319,077,826 and 399,310,347 shares of beneficial interest outstanding) | $ | 3.30 | ||
Class Y Shares: | ||||
Net asset value, redemption price and offering price per share (based on net assets of $54,893,676 and 16,541,136 shares of beneficial interest outstanding) | $ | 3.32 |
1. | Effective April 1, 2012, the maximum initial sales charge for Class A shares of the Fund will be 2.25%. |
Investment Income | ||||
Interest | $ | 223,964,603 | ||
Other income | 1,600 | |||
Total investment income | 223,966,203 | |||
Expenses | ||||
Management fees | 17,437,984 | |||
Distribution and service plan fees: | ||||
Class A | 7,485,940 | |||
Class B | 376,096 | |||
Class C | 12,516,048 | |||
Transfer and shareholder servicing agent fees: | ||||
Class A | 957,958 | |||
Class B | 49,925 | |||
Class C | 544,416 | |||
Class Y | 3,530 | |||
Shareholder communications: | ||||
Class A | 119,510 | |||
Class B | 6,603 | |||
Class C | 65,226 | |||
Class Y | 434 | |||
Accounting service fees | 1,315,512 | |||
Borrowing fees | 1,274,150 | |||
Interest expense and fees on short-term floating rate notes issued (See Note 1) | 1,030,059 | |||
Trustees’ compensation | 93,317 | |||
Custodian fees and expenses | 42,859 | |||
Interest expense | 38,787 | |||
Administration service fees | 1,500 | |||
Other | 266,401 | |||
Total expenses | 43,626,255 | |||
Net Investment Income | 180,339,948 | |||
Realized and Unrealized Gain | ||||
Net realized gain on investments | 1,519,760 | |||
Net change in unrealized appreciation/depreciation on investments | 129,407,671 | |||
Net Increase in Net Assets Resulting from Operations | $ | 311,267,379 | ||
1. | December 30, 2011 represents the last business day of the Fund’s 2011 fiscal year. See Note 1 of the accompanying Notes. |
Year Ended | Year Ended | |||||||
December 30, | December 31, | |||||||
20111 | 2010 | |||||||
Operations | ||||||||
Net investment income | $ | 180,339,948 | $ | 177,136,050 | ||||
Net realized gain (loss) | 1,519,760 | (1,444,221 | ) | |||||
Net change in unrealized appreciation/depreciation | 129,407,671 | (47,908,149 | ) | |||||
Net increase in net assets resulting from operations | 311,267,379 | 127,783,680 | ||||||
Dividends and/or Distributions to Shareholders | ||||||||
Dividends from net investment income: | ||||||||
Class A | (136,160,143 | ) | (130,997,041 | ) | ||||
Class B | (1,349,775 | ) | (1,761,280 | ) | ||||
Class C | (46,086,400 | ) | (45,266,887 | ) | ||||
Class Y | (505,405 | ) | — | |||||
(184,101,723 | ) | (178,025,208 | ) | |||||
Beneficial Interest Transactions | ||||||||
Net increase (decrease) in net assets resulting from beneficial | ||||||||
interest transactions: | ||||||||
Class A | 43,327,434 | 354,464,555 | ||||||
Class B | (9,274,385 | ) | (15,739,226 | ) | ||||
Class C | (10,011,299 | ) | 170,465,451 | |||||
Class Y | 54,145,454 | — | ||||||
78,187,204 | 509,190,780 | |||||||
Net Assets | ||||||||
Total increase | 205,352,860 | 458,949,252 | ||||||
Beginning of period | 4,457,673,130 | 3,998,723,878 | ||||||
End of period (including accumulated net investment income (loss) of $(2,623,774) and $5,141,802, respectively) | $ | 4,663,025,990 | $ | 4,457,673,130 | ||||
1. | December 30, 2011 represents the last business day of the Fund’s 2011 fiscal year. See Note 1 of the accompanying Notes. |
Cash Flows from Operating Activities | ||||
Net increase in net assets from operations | $ | 311,267,379 | ||
Adjustments to reconcile net increase in net assets from operations to net cash provided by operating activities: | ||||
Purchase of investment securities | (723,856,362 | ) | ||
Proceeds from disposition of investment securities | 619,881,728 | |||
Short-term investment securities, net | 66,068,593 | |||
Premium amortization | 21,415,567 | |||
Discount accretion | (732,852 | ) | ||
Net realized gain on investments | (1,519,760 | ) | ||
Net change in unrealized appreciation/depreciation on investments | (129,407,671 | ) | ||
Change in assets: | ||||
Increase in other assets | (87,818 | ) | ||
Increase in interest receivable | (778,186 | ) | ||
Increase in receivable for securities sold | (20,770,000 | ) | ||
Change in liabilities: | ||||
Increase in payable for securities purchased | 16,879,871 | |||
Decrease in other liabilities | (2,054,885 | ) | ||
Net cash provided by operating activities | 156,305,604 | |||
Cash Flows from Financing Activities | ||||
Proceeds from bank borrowings | 594,800,000 | |||
Payments on bank borrowings | (621,200,000 | ) | ||
Payments on short-term floating rate notes issued | (5,710,000 | ) | ||
Proceeds from shares sold | 835,742,953 | |||
Payments on shares redeemed | (930,819,851 | ) | ||
Cash distributions paid | (32,984,385 | ) | ||
Net cash used in financing activities | (160,171,283 | ) | ||
Net decrease in cash | (3,865,679 | ) | ||
Cash, beginning balance | 5,758,272 | |||
Cash, ending balance | $ | 1,892,593 | ||
1. | December 30, 2011 represents the last business day of the Fund’s 2011 fiscal year. See Note 1 of the accompanying Notes. |
Year Ended | ||||||||||||||||||||
December 30, | Year Ended December 31, | |||||||||||||||||||
Class A | 20111 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||
Per Share Operating Data | ||||||||||||||||||||
Net asset value, beginning of period | $ | 3.22 | $ | 3.25 | $ | 2.85 | $ | 3.32 | $ | 3.40 | ||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||
Net investment income2 | .14 | .14 | .14 | .14 | .14 | |||||||||||||||
Net realized and unrealized gain (loss) | .10 | (.03 | ) | .40 | (.47 | ) | (.08 | ) | ||||||||||||
Total from investment operations | .24 | .11 | .54 | (.33 | ) | .06 | ||||||||||||||
Dividends and/or distributions to shareholders: | ||||||||||||||||||||
Dividends from net investment income | (.14 | ) | (.14 | ) | (.14 | ) | (.14 | ) | (.14 | ) | ||||||||||
Net asset value, end of period | $ | 3.32 | $ | 3.22 | $ | 3.25 | $ | 2.85 | $ | 3.32 | ||||||||||
Total Return, at Net Asset Value3 | 7.76 | % | 3.51 | % | 19.45 | % | (10.18 | )% | 1.74 | % | ||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 3,253,871 | $ | 3,121,033 | $ | 2,801,988 | $ | 2,355,062 | $ | 2,745,029 | ||||||||||
Average net assets (in thousands) | $ | 3,074,407 | $ | 3,000,461 | $ | 2,558,997 | $ | 2,765,248 | $ | 2,721,428 | ||||||||||
Ratios to average net assets:4 | ||||||||||||||||||||
Net investment income | 4.34 | % | 4.35 | % | 4.50 | % | 4.55 | % | 4.18 | % | ||||||||||
Expenses excluding interest and fees on short-term floating rate notes issued and interest and fees from borrowings | 0.72 | % | 0.72 | % | 0.75 | % | 0.74 | % | 0.71 | % | ||||||||||
Interest and fees from borrowings | 0.03 | % | 0.04 | % | 0.26 | % | 0.09 | % | 0.03 | % | ||||||||||
Interest and fees on short-term | ||||||||||||||||||||
floating rate notes issued5 | 0.02 | % | 0.03 | % | 0.04 | % | 0.10 | % | 0.21 | % | ||||||||||
Total expenses | 0.77 | % | 0.79 | % | 1.05 | % | 0.93 | % | 0.95 | % | ||||||||||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 0.77 | % | 0.79 | % | 1.05 | % | 0.93 | % | 0.95 | % | ||||||||||
Portfolio turnover rate | 15 | % | 14 | % | 12 | % | 19 | % | 18 | % |
1. | December 30, 2011 represents the last business day of the Fund’s 2011 fiscal year. See Note 1 of the accompanying Notes. | |
2. | Per share amounts calculated based on the average shares outstanding during the period. | |
3. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
4. | Annualized for periods less than one full year. | |
5. | Interest and fee expense relates to the Fund’s liability for short-term floating rate notes issued in conjunction with inverse floating rate security transactions. |
Year Ended | ||||||||||||||||||||
December 30, | Year Ended December 31, | |||||||||||||||||||
Class B | 20111 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||
Per Share Operating Data | ||||||||||||||||||||
Net asset value, beginning of period | $ | 3.22 | $ | 3.25 | $ | 2.85 | $ | 3.32 | $ | 3.40 | ||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||
Net investment income2 | .11 | .12 | .11 | .12 | .11 | |||||||||||||||
Net realized and unrealized gain (loss) | .10 | (.03 | ) | .41 | (.47 | ) | (.08 | ) | ||||||||||||
Total from investment operations | .21 | .09 | .52 | (.35 | ) | .03 | ||||||||||||||
Dividends and/or distributions to shareholders: | ||||||||||||||||||||
Dividends from net investment income | (.12 | ) | (.12 | ) | (.12 | ) | (.12 | ) | (.11 | ) | ||||||||||
Net asset value, end of period | $ | 3.31 | $ | 3.22 | $ | 3.25 | $ | 2.85 | $ | 3.32 | ||||||||||
Total Return, at Net Asset Value3 | 6.52 | % | 2.62 | % | 18.39 | % | (10.90 | )% | 0.95 | % | ||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 35,183 | $ | 43,448 | $ | 59,451 | $ | 90,497 | $ | 228,022 | ||||||||||
Average net assets (in thousands) | $ | 37,587 | $ | 49,788 | $ | 71,243 | $ | 157,158 | $ | 272,855 | ||||||||||
Ratios to average net assets:4 | ||||||||||||||||||||
Net investment income | 3.48 | % | 3.50 | % | 3.64 | % | 3.72 | % | 3.38 | % | ||||||||||
Expenses excluding interest and fees on short-term floating rate notes issued and interest and fees from borrowings | 1.59 | % | 1.58 | % | 1.66 | % | 1.54 | % | 1.51 | % | ||||||||||
Interest and fees from borrowings | 0.03 | % | 0.04 | % | 0.26 | % | 0.09 | % | 0.03 | % | ||||||||||
Interest and fees on short-term floating rate notes issued5 | 0.02 | % | 0.03 | % | 0.04 | % | 0.10 | % | 0.21 | % | ||||||||||
Total expenses | 1.64 | % | 1.65 | % | 1.96 | % | 1.73 | % | 1.75 | % | ||||||||||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 1.64 | % | 1.65 | % | 1.96 | % | 1.73 | % | 1.75 | % | ||||||||||
Portfolio turnover rate | 15 | % | 14 | % | 12 | % | 19 | % | 18 | % |
1. | December 30, 2011 represents the last business day of the Fund’s 2011 fiscal year. See Note 1 of the accompanying Notes. | |
2. | Per share amounts calculated based on the average shares outstanding during the period. | |
3. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
4. | Annualized for periods less than one full year. | |
5. | Interest and fee expense relates to the Fund’s liability for short-term floating rate notes issued in conjunction with inverse floating rate security transactions. |
Year Ended | ||||||||||||||||||||
December 30, | Year Ended December 31, | |||||||||||||||||||
Class C | 20111 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||
Per Share Operating Data | ||||||||||||||||||||
Net asset value, beginning of period | $ | 3.21 | $ | 3.24 | $ | 2.84 | $ | 3.31 | $ | 3.39 | ||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||
Net investment income2 | .12 | .12 | .12 | .12 | .11 | |||||||||||||||
Net realized and unrealized gain (loss) | .09 | (.03 | ) | .40 | (.47 | ) | (.08 | ) | ||||||||||||
Total from investment operations | .21 | .09 | .52 | (.35 | ) | .03 | ||||||||||||||
Dividends and/or distributions to shareholders: | ||||||||||||||||||||
Dividends from net investment income | (.12 | ) | (.12 | ) | (.12 | ) | (.12 | ) | (.11 | ) | ||||||||||
Net asset value, end of period | $ | 3.30 | $ | 3.21 | $ | 3.24 | $ | 2.84 | $ | 3.31 | ||||||||||
Total Return, at Net Asset Value3 | 6.65 | % | 2.74 | % | 18.63 | % | (10.89 | )% | 0.97 | % | ||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 1,319,078 | $ | 1,293,192 | $ | 1,137,285 | $ | 919,680 | $ | 1,052,153 | ||||||||||
Average net assets (in thousands) | $ | 1,251,673 | $ | 1,250,552 | $ | 1,021,648 | $ | 1,054,502 | $ | 1,076,271 | ||||||||||
Ratios to average net assets:4 | ||||||||||||||||||||
Net investment income | 3.58 | % | 3.59 | % | 3.75 | % | 3.78 | % | 3.40 | % | ||||||||||
Expenses excluding interest and fees on short-term floating rate notes issued and interest and fees from borrowings | 1.49 | % | 1.48 | % | 1.50 | % | 1.51 | % | 1.49 | % | ||||||||||
Interest and fees from borrowings | 0.03 | % | 0.04 | % | 0.26 | % | 0.09 | % | 0.03 | % | ||||||||||
Interest and fees on short-term floating rate notes issued5 | 0.02 | % | 0.03 | % | 0.04 | % | 0.10 | % | 0.21 | % | ||||||||||
Total expenses | 1.54 | % | 1.55 | % | 1.80 | % | 1.70 | % | 1.73 | % | ||||||||||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 1.54 | % | 1.55 | % | 1.80 | % | 1.70 | % | 1.73 | % | ||||||||||
Portfolio turnover rate | 15 | % | 14 | % | 12 | % | 19 | % | 18 | % |
1. | December 30, 2011 represents the last business day of the Fund’s 2011 fiscal year. See Note 1 of the accompanying Notes. | |
2. | Per share amounts calculated based on the average shares outstanding during the period. | |
3. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
4. | Annualized for periods less than one full year. | |
5. | Interest and fee expense relates to the Fund’s liability for short-term floating rate notes issued in conjunction with inverse floating rate security transactions. |
Period Ended | ||||
December 30, | ||||
Class Y | 20111,2 | |||
Per Share Operating Data | ||||
Net asset value, beginning of period | $ | 3.18 | ||
Income (loss) from investment operations: | ||||
Net investment income3 | .11 | |||
Net realized and unrealized gain | .14 | |||
Total from investment operations | .25 | |||
Dividends and/or distributions to shareholders: | ||||
Dividends from net investment income | (.11 | ) | ||
Net asset value, end of period | $ | 3.32 | ||
Total Return, at Net Asset Value4 | 7.99 | % | ||
Ratios/Supplemental Data | ||||
Net assets, end of period (in thousands) | $ | 54,894 | ||
Average net assets (in thousands) | $ | 15,811 | ||
Ratios to average net assets:5 | ||||
Net investment income | 4.37 | % | ||
Expenses excluding interest and fees on short-term floating rate notes issued and interest and fees from borrowings | 0.46 | % | ||
Interest and fees from borrowings | 0.03 | % | ||
Interest and fees on short-term floating rate notes issued6 | 0.02 | % | ||
Total expenses | 0.51 | % | ||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 0.51 | % | ||
Portfolio turnover rate | 15 | % |
1. | December 30, 2011 represents the last business day of the Fund’s 2011 fiscal year. See Note 1 of the accompanying Notes. | |
2. | For the period from March 30, 2011 (inception of offering) to December 30, 2011. | |
3. | Per share amounts calculated based on the average shares outstanding during the period. | |
4. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
5. | Annualized for periods less than one full year. | |
6. | Interest and fee expense relates to the Fund’s liability for short-term floating rate notes issued in conjunction with inverse floating rate security transactions. |
When-Issued or | ||||
Delayed Delivery | ||||
Basis Transactions | ||||
Purchased securities | $ | 11,974,685 |
Principal | Coupon | Maturity | ||||||||||||||
Amount | Inverse Floater1 | Rate2 | Date | Value | ||||||||||||
$ | 3,335,000 | NYC GO DRIVERS | 11.452 | % | 8/15/23 | $ | 4,261,363 | |||||||||
3,780,000 | NYC GO DRIVERS | 11.457 | 12/1/23 | 4,945,412 | ||||||||||||
2,240,000 | NYC GO ROLs3 | 17.539 | 4/1/30 | 3,041,158 | ||||||||||||
7,250,000 | NYC GO ROLs3 | 15.286 | 6/1/23 | 10,261,070 | ||||||||||||
9,895,000 | NYS DA ROLs3 | 21.002 | 8/15/30 | 10,646,426 | ||||||||||||
7,085,000 | NYS DA ROLs3 | 8.399 | 7/1/27 | 9,074,893 | ||||||||||||
5,120,000 | SONYMA, Series 29 DRIVERS | 16.411 | 10/1/31 | 5,300,838 | ||||||||||||
$ | 47,531,160 | |||||||||||||||
1. | For a list of abbreviations used in the Inverse Floater table see the Portfolio Abbreviations table at the end of the Statement of Investments. | |
2. | Represents the current interest rate for the inverse floating rate security. | |
3. | Represents an inverse floating rate security that is subject to a shortfall/reimbursement agreement. |
to the inverse floating rate securities from time to time held by the Fund to the total assets of the Fund. The Fund’s exposure to the effects of leverage from its investments in inverse floating rate securities amounts to $95,840,000 or 2.00% of its total assets as of December 30, 2011.
Cost | $ | 2,530,000 | ||
Market Value | $ | 1,820,525 | ||
Market Value as a % of Net Assets | 0.04 | % |
The tax components of capital shown in the following table represent distribution requirements the Fund must satisfy under the income tax regulations, losses the Fund may be able to offset against income and gains realized in future years and unrealized appreciation or depreciation of securities and other investments for federal income tax purposes.
Net Unrealized | ||||||||||||
Appreciation | ||||||||||||
Based on Cost | ||||||||||||
of Securities | ||||||||||||
and Other | ||||||||||||
Undistributed | Undistributed | Accumulated | Investments for | |||||||||
Net Investment | Long-Term | Loss | Federal Income | |||||||||
Income | Gain | Carryforward1,2,3,4 | Tax Purposes | |||||||||
$6,612,235 | $— | $70,734,707 | $49,477,469 |
1. | As of December 30, 2011, the Fund had $70,734,707 of net capital loss carryforwards available to offset future realized capital gains, if any, and thereby reduce future taxable gain distributions. Details of the capital loss carryforwards are included in the table below. Capital loss carryovers with no expiration, if any, must be utilized prior to those with expiration dates. |
Expiring | ||||
2016 | $ | 53,401,694 | ||
2017 | 16,519,543 | |||
2018 | 813,470 | |||
Total | $ | 70,734,707 | ||
2. | During the fiscal year ended December 30, 2011, the Fund utilized $37,051 of capital loss carryforward to offset capital gains realized in that fiscal year. | |
3. | During the fiscal year ended December 31, 2010, the Fund did not utilize any capital loss carryforward. | |
4. | During the fiscal year ended December 30, 2011, $2,090,776 of unused capital loss carryforward expired. |
Reduction | ||||||||
Reduction | to Accumulated | |||||||
Reduction to | to Accumulated Net | Net Realized | ||||||
Paid-in Capital | Investment Income | Loss on Investments | ||||||
$2,090,776 | $ | 4,003,801 | $ | 6,094,577 |
Year Ended | Year Ended | |||||||
December 30, 2011 | December 31, 2010 | |||||||
Distributions paid from: | ||||||||
Exempt-interest dividends | $ | 183,778,302 | $ | 177,065,616 | ||||
Ordinary income | 323,421 | 959,592 | ||||||
Total | $ | 184,101,723 | $ | 178,025,208 | ||||
Federal tax cost of securities | $ | 4,542,455,535 | 1 | |
Gross unrealized appreciation | $ | 112,539,668 | ||
Gross unrealized depreciation | (63,062,199 | ) | ||
Net unrealized appreciation | $ | 49,477,469 | ||
1. | The Federal tax cost of securities does not include cost of $98,915,496, which has otherwise been recognized for financial reporting purposes, related to bonds placed into trusts in conjunction with certain investment transactions. See the Inverse Floating Rate Securities note above. |
Projected Benefit Obligations Increased | $ | 23,677 | ||
Payments Made to Retired Trustees | 62,107 | |||
Accumulated Liability as of December 30, 2011 | 627,473 |
Security Transactions. Security transactions are recorded on the trade date. Realized gains and losses on securities sold are determined on the basis of identified cost.
Other. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.
Year Ended December 30, 20111 | Year Ended December 31, 2010 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Class A | ||||||||||||||||
Sold | 182,618,067 | $ | 592,543,007 | 258,957,836 | $ | 851,290,493 | ||||||||||
Dividends and/or distributions reinvested | 34,367,172 | 111,483,662 | 29,098,141 | 95,587,964 | ||||||||||||
Redeemed | (205,013,005 | ) | (660,699,235 | ) | (180,902,889 | ) | (592,413,902 | ) | ||||||||
Net increase | 11,972,234 | $ | 43,327,434 | 107,153,088 | $ | 354,464,555 | ||||||||||
Class B | ||||||||||||||||
Sold | 2,051,664 | $ | 6,616,372 | 3,494,253 | $ | 11,454,814 | ||||||||||
Dividends and/or | ||||||||||||||||
distributions reinvested | 361,025 | 1,167,087 | 418,476 | 1,372,836 | ||||||||||||
Redeemed | (5,296,683 | ) | (17,057,844 | ) | (8,713,849 | ) | (28,566,876 | ) | ||||||||
Net decrease | (2,883,994 | ) | $ | (9,274,385 | ) | (4,801,120 | ) | $ | (15,739,226 | ) | ||||||
Class C | ||||||||||||||||
Sold | 58,234,097 | $ | 188,369,482 | 103,732,010 | $ | 339,374,183 | ||||||||||
Dividends and/or | ||||||||||||||||
distributions reinvested | 11,815,668 | 38,121,281 | 10,785,313 | 35,282,911 | ||||||||||||
Redeemed | (73,792,489 | ) | (236,502,062 | ) | (62,531,361 | ) | (204,191,643 | ) | ||||||||
Net increase (decrease) | (3,742,724 | ) | $ | (10,011,299 | ) | 51,985,962 | $ | 170,465,451 | ||||||||
71 | LIMITED TERM NEW YORK MUNICIPAL FUND
Year Ended December 30, 20111 | Year Ended December 31, 2010 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Class Y | ||||||||||||||||
Sold | 16,898,364 | $ | 55,318,703 | — | $ | — | ||||||||||
Dividends and/or | ||||||||||||||||
distributions reinvested | 104,996 | 346,173 | — | — | ||||||||||||
Redeemed | (462,224 | ) | (1,519,422 | ) | — | — | ||||||||||
Net increase | 16,541,136 | $ | 54,145,454 | — | $ | — | ||||||||||
1. | For the year ended December 30, 2011, for Class A, Class B and Class C shares, and for the period from March 30, 2011 (inception of offering) to December 30, 2011, for Class Y shares. |
Purchases | Sales | |||||||
Investment securities | $ | 723,856,362 | $ | 619,881,728 |
Fee Schedule | ||||
Up to $100 million | 0.50 | % | ||
Next $150 million | 0.45 | |||
Next $1.75 billion | 0.40 | |||
Next $3 billion | 0.39 | |||
Over $5 billion | 0.38 |
Service Plan for Class A Shares. The Fund has adopted a Service Plan (the “Plan”) for Class A shares under Rule 12b-1 of the Investment Company Act of 1940. Under the Plan, the Fund reimburses the Distributor for a portion of its costs incurred for services provided to accounts that hold Class A shares. Reimbursement is made periodically at an annual rate of up to 0.25% of the daily net assets of Class A shares of the Fund. The Distributor currently uses all of those fees to pay dealers, brokers, banks and other financial institutions periodically for providing personal service and maintenance of accounts of their customers that hold Class A shares. Any unreimbursed expenses the Distributor incurs with respect to Class A shares in any fiscal year cannot be recovered in subsequent periods. Fees incurred by the Fund under the Plan are detailed in the Statement of Operations.
Class C | $38,855,922 |
Class A | Class B | Class C | ||||||||||||||
Class A | Contingent | Contingent | Contingent | |||||||||||||
Front-End | Deferred | Deferred | Deferred | |||||||||||||
Sales Charges | Sales Charges | Sales Charges | Sales Charges | |||||||||||||
Retained by | Retained by | Retained by | Retained by | |||||||||||||
Year Ended | Distributor | Distributor | Distributor | Distributor | ||||||||||||
December 30, 2011 | $ | 422,408 | $ | 136,304 | $ | 48,870 | $ | 146,830 |
Average Daily Loan Balance | $ | 18,745,205 | ||
Average Daily Interest Rate | 0.215 | % | ||
Fees Paid | $ | 1,220,095 | ||
Interest Paid | $ | 41,224 |
to declare the first or fifteenth day of any calendar month as the repurchase date for any outstanding reverse repurchase agreement upon delivery of advanced notification and may also recall any security subject to such a transaction by substituting eligible securities of equal or greater margin value according to the Facility’s terms.
February 21, 2012
Unrated by | ||||||||||||
a NRSRO; | ||||||||||||
Internally | ||||||||||||
Rated by | ||||||||||||
NRSRO-Rated | the Manager | Total | ||||||||||
AAA | 2.6 | % | 0.0 | % | 2.6 | % | ||||||
AA | 25.0 | 0.4 | 25.4 | |||||||||
A | 20.7 | 0.1 | 20.8 | |||||||||
BBB | 42.2 | 6.0 | 48.2 | |||||||||
BB or lower | 1.2 | 1.8 | 3.0 | |||||||||
Total | 91.7 | % | 8.3 | % | 100.0 | % | ||||||
Outlined below is a summary of the principal information considered by the Board as well as the Board’s conclusions.
Name, Position(s) Held with the Fund, Length of Service, Age | Principal Occupation(s) During the Past 5 Years; Other Trusteeships/Directorships Held; Number of Portfolios in the Fund Complex Currently Overseen | |
INDEPENDENT TRUSTEES | The address of each Trustee in the chart below is 6803 S. Tucson Way, Centennial, Colorado 80112-3924. Each Trustee serves for an indefinite term, or until his or her resignation, retirement, death or removal. | |
Brian F. Wruble, Chairman of the Board of Trustees (since 2007), Trustee (since 2001) Age: 68 | Chairman (since August 2007) and Trustee (since August 1991) of the Board of Trustees of The Jackson Laboratory (non-profit); Director of Special Value Opportunities Fund, LLC (registered investment company) (affiliate of the Manager’s parent company) (since September 2004); Member of Zurich Financial Investment Management Advisory Council (insurance) (since 2004); Treasurer (since 2007) and Trustee of the Institute for Advanced Study (non-profit educational institute) (since May 1992); General Partner of Odyssey Partners, L.P. (hedge fund) (September 1995-December 2007); Special Limited Partner of Odyssey Investment Partners, LLC (private equity investment) (January 1999-September 2004). Oversees 59 portfolios in the OppenheimerFunds complex. Mr. Wruble has served on the Boards of certain Oppenheimer funds since April 2001, during which time he has become familiar with the Fund’s (and other Oppenheimer funds’) financial, accounting, regulatory and investment matters and has contributed to the Boards’ deliberations. | |
David K. Downes, Trustee (since 2005) Age: 71 | Director of THL Credit Inc. (since June 2009); Independent Chairman GSK Employee Benefit Trust (since April 2006); Trustee of Employee Trusts (since January 2006); Chief Executive Officer and Board Member of Community Capital Management (investment management company) (since January 2004); President of The Community Reinvestment Act Qualified Investment Fund (investment management company) (since 2004); Director of Internet Capital Group (information technology company) (since October 2003); Director of Correctnet (January 2006-2007); Independent Chairman of the Board of Trustees of Quaker Investment Trust (registered investment company) (2004-2007); Chief Operating Officer and Chief Financial Officer of Lincoln National Investment Companies, Inc. (subsidiary of Lincoln National Corporation, a publicly traded company) and Delaware Investments U.S., Inc. (investment management subsidiary of Lincoln National Corporation) (1993-2003); President, Chief Executive Officer and Trustee of Delaware Investment Family of Funds (1993-2003); President and Board Member of Lincoln National Convertible Securities Funds, Inc. and the Lincoln National Income Funds, TDC (1993-2003); Chairman and Chief Executive Officer of Retirement Financial Services, Inc. (registered transfer agent and investment adviser and subsidiary of Delaware Investments U.S., Inc.) (1993-2003); President and Chief Executive Officer of Delaware Service Company, Inc. (1995-2003); Chief Administrative Officer, Chief Financial Officer, Vice Chairman and Director of Equitable Capital Management Corporation (investment subsidiary of Equitable Life Assurance Society) (1985-1992); Corporate Controller of Merrill Lynch Company (financial services holding company) (1977-1985); held the following positions at the Colonial Penn Group, Inc. (insurance company): Corporate Budget Director (1974-1977), Assistant Treasurer (1972-1974) and Director of Corporate Taxes (1969-1972); held the following positions at Price Waterhouse Company (financial services firm): Tax Manager (1967-1969), Tax Senior (1965- 1967) and Staff Accountant (1963-1965); United States Marine Corps (1957-1959). Oversees 59 portfolios in the OppenheimerFunds complex. Mr. Downes has served on the Boards of certain Oppenheimer funds since December 2005, during which time he has become familiar with the Fund’s (and other Oppenheimer funds’) financial, accounting, regulatory and investment matters and has contributed to the Boards’ deliberations. |
Matthew P. Fink, Trustee (since 2009) Age: 70 | Trustee of the Committee for Economic Development (policy research foundation) (since 2005); Director of ICI Education Foundation (education foundation) (October 1991-August 2006); President of the Investment Company Institute (trade association) (October 1991-June 2004); Director of ICI Mutual Insurance Company (insurance company) (October 1991-June 2004). Oversees 59 portfolios in the OppenheimerFunds complex. Mr. Fink has served on the Boards of certain Oppenheimer funds since January 2005, during which time he has become familiar with the Fund’s (and other Oppenheimer funds’) financial, accounting, regulatory and investment matters and has contributed to the Boards’ deliberations. | |
Phillip A. Griffiths, Trustee (since 2009) Age: 73 | Fellow of the Carnegie Corporation (since 2007); Member of the National Academy of Sciences (since 1979); Council on Foreign Relations (since 2002); Foreign Associate of Third World Academy of Sciences (since 2002); Chair of Science Initiative Group (since 1999); Member of the American Philosophical Society (since 1996); Trustee of Woodward Academy (since 1983); Director of GSI Lumonics Inc. (precision technology products company) (2001-2010); Senior Advisor of The Andrew W. Mellon Foundation (2001-2010); Distinguished Presidential Fellow for International Affairs of the National Academy of Science (2002-2010); Director of the Institute for Advanced Study (1991-2004); Director of Bankers Trust New York Corporation (1994-1999); Provost at Duke University (1983-1991). Oversees 59 portfolios in the OppenheimerFunds complex. Mr. Griffiths has served on the Boards of certain Oppenheimer funds since June 1999, during which time he has become familiar with the Fund’s (and other Oppenheimer funds’) financial, accounting, regulatory and investment matters and has contributed to the Boards’ deliberations. | |
Mary F. Miller, Trustee (since 2009) Age: 69 | Trustee of International House (not-for-profit) (since June 2007); Trustee of the American Symphony Orchestra (not-for-profit) (since October 1998); and Senior Vice President and General Auditor of American Express Company (financial services company) (July 1998-February 2003). Oversees 59 portfolios in the OppenheimerFunds complex. Ms. Miller has served on the Boards of certain Oppenheimer funds since August 2004, during which time she has become familiar with the Fund’s (and other Oppenheimer funds’) financial, accounting, regulatory and investment matters and has contributed to the Boards’ deliberations. | |
Joel W. Motley, Trustee (since 2009) Age: 59 | Board Member of Pulitzer center for Crisis Reporting (non-profit journalism) (since December 2010); Managing Director of Public Capital Advisors, LLC (privately-held financial advisor) (since January 2006); Managing Director of Carmona Motley, Inc. (privately-held financial advisor) (since January 2002); Director of Columbia Equity Financial Corp. (privately-held financial advisor) (2002-2007); Managing Director of Carmona Motley Hoffman Inc. (privately- held financial advisor) (January 1998-December 2001); Member of the Finance and Budget Committee of the Council on Foreign Relations, Chairman of the Investment Committee of the Episcopal Church of America, Member of the Investment Committee and Board of Human Rights Watch and Member of the Investment Committee and Board of Historic Hudson Valley. Oversees 59 portfolios in the OppenheimerFunds complex. Mr. Motley has served on the Boards of certain Oppenheimer funds since October 2002, during which time he has become familiar with the Fund’s (and other Oppenheimer funds’) financial, accounting, regulatory and investment matters and has contributed to the Boards’ deliberations. | |
Mary Ann Tynan, Trustee (since 2009) Age: 66 | Vice Chair of Board of Trustees of Brigham and Women’s/Faulkner Hospitals (non-profit hospital) (since 2000); Chair of Board of Directors of Faulkner Hospital (non-profit hospital) (since 1990); Member of Audit and Compliance Committee of Partners Health Care System (non-profit) (since 2004); Board of Trustees of |
Mary Ann Tynan, Continued | Middlesex School (educational institution) (since 1994); Board of Directors of Idealswork, Inc. (financial services provider) (since 2003); Partner, Senior Vice President and Director of Regulatory Affairs of Wellington Management Company, LLP (global investment manager) (1976-2002); Vice President and Corporate Secretary, John Hancock Advisers, Inc. (mutual fund investment adviser) (1970-1976). Oversees 59 portfolios in the OppenheimerFunds complex. Ms. Tynan has served on the Boards of certain Oppenheimer funds since October 2008, during which time she has become familiar with the Fund’s (and other Oppenheimer funds’) financial, accounting, regulatory and investment matters and has contributed to the Boards’ deliberations. | |
Joseph M. Wikler, Trustee (since 2009) Age: 70 | Director of C-TASC (bio-statistics services) (since 2007); formerly, Director of the following medical device companies: Medintec (1992-2011) and Cathco (1996-2011); Member of the Investment Committee of the Associated Jewish Charities of Baltimore (since 1994); Director of Lakes Environmental Association (environmental protection organization) (1996-2008); Director of Fortis/Hartford mutual funds (1994-December 2001). Oversees 59 portfolios in the OppenheimerFunds complex. Mr. Wikler has served on the Boards of certain Oppenheimer funds since August 2005, during which time he has become familiar with the Fund’s (and other Oppenheimer funds’) financial, accounting, regulatory and investment matters and has contributed to the Boards’ deliberations. | |
Peter I. Wold, Trustee (since 2009) Age: 63 | Director of Arch Coal, Inc. (since 2010); Director and Chairman of Wyoming Enhanced Oil Recovery Institute Commission (enhanced oil recovery study) (since 2004); President of Wold Oil Properties, Inc. (oil and gas exploration and production company) (since 1994); Vice President of American Talc Company, Inc. (talc mining and milling) (since 1999); Managing Member of Hole-in-the- Wall Ranch (cattle ranching) (since 1979); Director and Chairman of the Denver Branch of the Federal Reserve Bank of Kansas City (1993-1999); and Director of PacifiCorp. (electric utility) (1995-1999). Oversees 59 portfolios in the OppenheimerFunds complex. Mr. Wold has served on the Boards of certain Oppenheimer funds since August 2005, during which time he has become familiar with the Fund’s (and other Oppenheimer funds’) financial, accounting, regulatory and investment matters and has contributed to the Boards’ deliberations. | |
INTERESTED TRUSTEE AND OFFICER | The address of Mr. Glavin is Two World Financial Center, 225 Liberty Street, 11th Floor, New York, New York 10281-1008. Mr. Glavin serves as a Trustee for an indefinite term, or until his resignation, retirement, death or removal and as an Officer for an indefinite term, or until his resignation, retirement, death or removal. Mr. Glavin is an Interested Trustee due to his positions with OppenheimerFunds, Inc. and its affiliates. | |
William F. Glavin, Jr., Trustee, President and Principal Executive Officer (since 2009) Age: 53 | Chairman of the Manager (since December 2009); Chief Executive Officer and Director of the Manager (since January 2009); President of the Manager (since May 2009); Director of Oppenheimer Acquisition Corp. (“OAC”) (the Manager’s parent holding company) (since June 2009); Executive Vice President (March 2006-February 2009) and Chief Operating Officer (July 2007-February 2009) of Massachusetts Mutual Life Insurance Company (OAC’s parent company); Director (May 2004-March 2006) and Chief Operating Officer and Chief Compliance Officer (May 2004-January 2005), President (January 2005-March 2006) and Chief Executive Officer (June 2005-March 2006) of Babson Capital Management LLC; Director (March 2005-March 2006), President (May 2003-March 2006) and Chief Compliance Officer (July 2005-March 2006) of Babson Capital Securities, Inc. (a broker-dealer); President (May 2003-March 2006) of Babson Investment Company, Inc.; Director (May 2004-August 2006) of Babson Capital Europe Limited; Director (May 2004-October 2006) of Babson Capital Guernsey Limited; |
William F. Glavin, Jr., Continued | Director (May 2004-March 2006) of Babson Capital Management LLC; Non- Executive Director (March 2005-March 2007) of Baring Asset Management Limited; Director (February 2005-June 2006) Baring Pension Trustees Limited; Director and Treasurer (December 2003-November 2006) of Charter Oak Capital Management, Inc.; Director (May 2006-September 2006) of C.M. Benefit Insurance Company; Director (May 2008-June 2009) and Executive Vice President (June 2007-July 2009) of C.M. Life Insurance Company; President (March 2006-May 2007) of MassMutual Assignment Company; Director (January 2005-December 2006), Deputy Chairman (March 2005-December 2006) and President (February 2005-March 2005) of MassMutual Holdings (Bermuda) Limited; Director (May 2008-June 2009) and Executive Vice President (June 2007-July 2009) of MML Bay State Life Insurance Company; Chief Executive Officer and President (April 2007-January 2009) of MML Distributors, LLC; and Chairman (March 2006-December 2008) and Chief Executive Officer (May 2007-December 2008) of MML Investors Services, Inc. Oversees 63 portfolios as a Trustee/Director and 96 portfolios as an officer in the OppenheimerFunds complex. | |
OTHER OFFICERS OF THE FUND | The addresses of the Officers in the chart below are as follows: for Mr. Gabinet and Ms. Nasta, Two World Financial Center, 225 Liberty Street, New York, New York 10281-1008, for Messrs. Vandehey and Wixted, 6803 S. Tucson Way, Centennial, Colorado 80112-3924, for Messrs. Loughran, Cottier, Willis, DeMitry, Camarella, and Stein, 350 Linden Oaks, Rochester, New York 14625. Each Officer serves for an indefinite term or until his or her resignation, retirement, death or removal. | |
Daniel G. Loughran, Vice President (since 2005) Age: 48 | Senior Vice President of the Manager (since August 2007); Vice President of the Manager (April 2001-July 2007) and a Portfolio Manager of the Manager (1999-2001). Team leader, a Senior Portfolio Manager, an officer and a trader for the Fund and other Oppenheimer funds. | |
Scott S. Cottier, Vice President (since 2005) Age: 40 | Vice President of the Manager (since September 2002). Portfolio Manager and trader at Victory Capital Management (1999-2002). Senior Portfolio Manager, an officer and a trader for the Fund and other Oppenheimer funds. | |
Troy E. Willis, Vice President (since 2005) Age: 39 | Vice President of the Manager (since July 2009); Assistant Vice President of the Manager (July 2005-June 2009). Portfolio Manager of the Manager (June 2003-December 2005). Corporate Attorney for Southern Resource Group (1999-2003). Senior Portfolio Manager, an officer and a trader for the Fund and other Oppenheimer funds. | |
Mark R. DeMitry, Vice President (since 2009) Age: 35 | Vice President of the Manager (since July 2009); Associate Portfolio Manager of the Manager (October 2006-June 2009). Research analyst of the Manager (June 2003-September 2006) and a credit analyst of the Manager (July 2001-May 2003). Senior Portfolio Manager, an officer and a trader for the Fund and other Oppenheimer funds. | |
Michael L. Camarella, Vice President (since 2009) Age: 35 | Vice President of the Manager (since January 2011); Assistant Vice President of the Manager (since July 2009). Research analyst of the Manager (April 2006-December 2007) and a credit analyst of the Manager (June 2003-March 2006). Associate Portfolio Manager, an officer and a trader for the Fund and other Oppenheimer funds. | |
Richard Stein, Vice President (since 2007) Age: 54 | Director of the Rochester Credit Analysis team (since March 2004) and a Vice President of the Manager (since November 1997); headed Rochester’s Credit Analysis team (since May 1993). |
Arthur S. Gabinet, Secretary (since 2011) Age: 53 | Executive Vice President (since May 2010) and General Counsel (since January 2011) of the Manager; General Counsel of the Distributor (since January 2011); General Counsel of Centennial Asset Management Corporation (since January 2011); Executive Vice President and General Counsel of HarbourView Asset Management Corporation (since January 2011); Assistant Secretary (since January 2011) and Director (since January 2011) of OppenheimerFunds International Ltd. and OppenheimerFunds plc; Vice President and Director of Oppenheimer Partnership Holdings, Inc. (since January 2011); Director of Oppenheimer Real Asset Management, Inc. (since January 2011); Executive Vice President and General Counsel of Shareholder Financial Services, Inc. and Shareholder Services, Inc. (since January 2011); Executive Vice President and General Counsel of OFI Private Investments, Inc. (since January 2011); Vice President of OppenheimerFunds Legacy Program (since January 2011); Executive Vice President and General Counsel of OFI Institutional Asset Management, Inc. (since January 2011); General Counsel, Asset Management of the Manager (May 2010-December 2010); Principal, The Vanguard Group (November 2005-April 2010); District Administrator, U.S. Securities and Exchange Commission (January 2003-October 2005). An officer of 96 portfolios in the OppenheimerFunds complex. | |
Christina M. Nasta, Vice President and Chief Business Officer (since 2011) Age: 38 | Senior Vice President of the Manager (since July 2010); Vice President of the Manager (since January 2003); Vice President of OppenheimerFunds Distributor, Inc. (since January 2003). An officer of 96 portfolios in the OppenheimerFunds complex. | |
Mark S. Vandehey, Vice President and Chief Compliance Officer (since 2004) Age: 61 | Senior Vice President and Chief Compliance Officer of the Manager (since March 2004); Chief Compliance Officer of OppenheimerFunds Distributor, Inc., Centennial Asset Management and Shareholder Services, Inc. (since March 2004); Vice President of OppenheimerFunds Distributor, Inc., Centennial Asset Management Corporation and Shareholder Services, Inc. (since June 1983). An officer of 96 portfolios in the OppenheimerFunds complex. | |
Brian W. Wixted, Treasurer and Principal Financial & Accounting Officer (since 1999) Age: 52 | Senior Vice President of the Manager (since March 1999); Treasurer of the Manager and the following: HarbourView Asset Management Corporation, Shareholder Financial Services, Inc., Shareholder Services, Inc., Oppenheimer Real Asset Management, Inc. and Oppenheimer Partnership Holdings, Inc. (March 1999-June 2008), OFI Private Investments, Inc. (March 2000-June 2008), OppenheimerFunds International Ltd. and OppenheimerFunds plc (since May 2000), OFI Institutional Asset Management, Inc. (since November 2000), and OppenheimerFunds Legacy Program (charitable trust program established by the Manager) (since June 2003); Treasurer and Chief Financial Officer of OFI Trust Company (trust company subsidiary of the Manager) (since May 2000); Assistant Treasurer of OAC (March 1999-June 2008). An officer of 96 portfolios in the OppenheimerFunds complex. |
A Series of Rochester Portfolio Series | ||
Manager | OppenheimerFunds, Inc. | |
Distributor | OppenheimerFunds Distributor, Inc. | |
Transfer and Shareholder Servicing Agent | OppenheimerFunds Services | |
Independent Registered Public Accounting Firm | KPMG llp | |
Legal Counsel | Kramer Levin Naftalis & Frankel LLP |
• | Applications or other forms | |
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(e) | (1) During its regularly scheduled periodic meetings, the registrant’s audit committee will pre-approve all audit, audit-related, tax and other services to be provided by the principal accountants of the registrant. | |
The audit committee has delegated pre-approval authority to its Chairman for any subsequent new engagements that arise between regularly scheduled meeting dates provided that any fees such pre-approved are presented to the audit committee at its next regularly scheduled meeting. | ||
Under applicable laws, pre-approval of non-audit services maybe waived provided that: 1) the aggregate amount of all such services provided constitutes no more than five percent of the total amount of fees paid by the registrant to it principal accountant during the fiscal year in which services are provided 2) such services were not recognized by the registrant at the time of engagement as non-audit services and 3) such services are promptly brought to the attention of the audit committee of the registrant and approved prior to the completion of the audit. | ||
(2) 100% | ||
(f) | Not applicable as less than 50%. | |
(g) | The principal accountant for the audit of the registrant’s annual financial statements billed $418,389 in fiscal 2011 and $352,795 in fiscal 2010 to the registrant and the registrant’s investment adviser or any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant related to non-audit fees. Those billings did not include any prohibited non-audit services as defined by the Securities Exchange Act of 1934. | |
(h) | The registrant’s audit committee of the board of trustees has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser, and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved |
pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence. No such services were rendered. |
1. | The Fund’s Governance Committee (the “Committee”) will evaluate potential Board candidates to assess their qualifications. The Committee shall have the authority, upon approval of the Board, to retain an executive search firm to assist in this effort. The Committee may consider recommendations by business and personal contacts of current Board members and by executive search firms which the Committee may engage from time to time and may also consider shareholder recommendations. The Committee may consider the advice and recommendation of the Funds’ investment manager and its affiliates in making the selection. |
2. | The Committee shall screen candidates for Board membership. The Committee has not established specific qualifications that it believes must be met by a trustee nominee. In evaluating trustee nominees, the Committee considers, among other things, an individual’s background, skills, and experience; whether the individual is an “interested person” as defined in the Investment Company Act of 1940; and whether the individual would be deemed an “audit committee financial expert” within the meaning of applicable SEC rules. The Committee also considers whether the individual’s background, skills, and experience will complement the background, skills, and experience of other nominees and will contribute to the Board. There are no differences in the manner in which the Committee | |
evaluates nominees for trustees based on whether the nominee is recommended by a shareholder. | ||
3. | The Committee may consider nominations from shareholders for the Board at such times as the Committee meets to consider new nominees for the Board. The Committee shall have the sole discretion to determine the candidates to present to the Board and, in such cases where required, to shareholders. Recommendations for trustee nominees should, at a minimum, be accompanied by the following: |
• | the name, address, and business, educational, and/or other pertinent background of the person being recommended; | ||
• | a statement concerning whether the person is an “interested person” as defined in the Investment Company Act of 1940; | ||
• | any other information that the Funds would be required to include in a proxy statement concerning the person if he or she was nominated; and | ||
• | the name and address of the person submitting the recommendation and, if that person is a shareholder, the period for which that person held Fund shares. |
The recommendation also can include any additional information which the person submitting it believes would assist the Committee in evaluating the recommendation. | ||
4. | Shareholders should note that a person who owns securities issued by Massachusetts Mutual Life Insurance Company (the parent company of the Funds’ investment adviser) would be deemed an “interested person” under the Investment Company Act of 1940. In addition, certain other relationships with Massachusetts Mutual Life Insurance Company or its subsidiaries, with registered broker-dealers, or with the Funds’ outside legal counsel may cause a person to be deemed an “interested person.” | |
5. | Before the Committee decides to nominate an individual as a trustee, Committee members and other directors customarily interview the individual in person. In addition, the individual customarily is asked to complete a detailed questionnaire which is designed to elicit |
information which must be disclosed under SEC and stock exchange rules and to determine whether the individual is subject to any statutory disqualification from serving as a trustee of a registered investment company. |
(a) | (1) Exhibit attached hereto. |
(2) | Exhibits attached hereto. | ||
(3) | Not applicable. |
(b) | Exhibit attached hereto. |
By: | /s/ William F. Glavin, Jr. | |||
William F. Glavin, Jr. Principal Executive Officer | ||||
By: | /s/ William F. Glavin, Jr. | |||
William F. Glavin, Jr. Principal Executive Officer | ||||
By: | /s/ Brian W. Wixted | |||
Brian W. Wixted Principal Financial Officer | ||||