UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act file number 811-6332
Limited Term New York Municipal Fund
(Exact name of registrant as specified in charter)
6803 South Tucson Way, Centennial, Colorado 80112-3924
(Address of principal executive offices)
(Zip code)
Robert G. Zack, Esq.
OppenheimerFunds, Inc.
498 Seventh Avenue, New York, New York 10018
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(Name and address of agent for service)
Registrant's telephone number, including area code: (303) 768-3200
--------------
Date of fiscal year end: December 31
Date of reporting period: January 1, 2003 - June 30, 2003
ITEM 1. REPORTS TO STOCKHOLDERS.
STATEMENT OF INVESTMENTS June 30, 2003 / Unaudited
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- -------------------------------------------------------------------------------------------------------------------
Municipal Bonds and Notes--100.4%
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New York--84.4%
$ 785,000 Albany County Airport Authority 5.300% 12/15/2009 12/15/2007 b $ 880,401
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50,000 Albany County Airport Authority 5.300 12/15/2015 s 12/15/2009 b 53,857
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750,000 Albany County Airport Authority 5.500 12/15/2019 s 12/15/2009 b 805,050
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5,000 Albany GO 7.000 01/15/2010 07/15/2003 b 5,049
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250,000 Albany Hsg. Authority 6.250 10/01/2012 s 10/01/2007 b 267,905
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430,000 Albany IDA (Albany Medical Center) 5.600 05/01/2005 11/30/2004 c 435,887
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5,335,000 Albany IDA (Charitable Leadership) 5.500 07/01/2011 07/13/2010 c 5,736,565
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8,810,000 Albany IDA (Charitable Leadership) 6.000 07/01/2019 s 07/01/2013 b 9,471,719
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2,660,000 Albany IDA
(Daughters of Sarah Nursing Home) 5.250 10/20/2021 03/26/2014 g 2,823,218
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1,665,000 Albany IDA (H. Johnson Office Park) i 4.750 03/01/2018 s 03/01/2008 f 1,676,472
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65,000 Albany IDA (Port of Albany) 6.250 02/01/2005 08/16/2004 c 65,002
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50,000 Albany IDA (Spectrapark) 7.500 12/01/2003 12/01/2003 50,239
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3,545,000 Albany IDA (Spectrapark) 7.600 12/01/2009 s 12/01/2003 b 3,671,556
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125,000 Albany IDA
(University Heights--Albany Law School) 6.750 12/01/2019 s 12/01/2009 b 152,274
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1,655,000 Albany IDA
(University Heights--Albany Pharmacy) 6.750 12/01/2019 s 12/01/2009 b 1,955,664
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15,000 Albany IDA
(University Heights--Albany Pharmacy) 6.750 12/01/2029 s 12/01/2009 b 17,454
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9,295,000 Albany Municipal Water
Finance Authority 5.500 12/01/2022 s 12/01/2003 b 9,619,767
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1,000,000 Albany Municipal Water
Finance Authority 6.375 12/01/2017 s 12/01/2009 b 1,203,000
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25,000 Albany Parking Authority 0.000 z 09/15/2003 09/15/2003 24,915
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625,000 Albany Parking Authority 0.000 z 09/15/2004 09/15/2004 611,606
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20,000 Albany Parking Authority 0.000 z 09/15/2005 09/15/2005 19,032
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2,000,000 Albany Parking Authority 5.625 07/15/2020 s 07/15/2012 b 2,125,120
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1,000,000 Albany Parking Authority 5.625 07/15/2025 s 07/15/2012 b 1,046,840
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4,250,000 Allegany County IDA
(Houghton College) 5.250 01/15/2018 01/15/2010 b 4,386,850
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3,060,000 Amherst IDA (Daemen College) 5.750 10/01/2011 02/13/2008 c 3,346,385
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490,000 Amherst IDA (Faculty--Student
Assoc. of SUNY at Buffalo) 5.750 04/01/2016 04/01/2012 b 537,403
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420,000 Amherst IDA (Faculty--Student
Assoc. of SUNY at Buffalo) 5.750 04/01/2017 s 04/01/2012 b 457,447
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900,000 Andpress HDC (Andpress Plaza) 6.600 01/15/2023 s 08/01/2003 b 901,206
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50,000 Arlington Central School District 5.000 12/15/2015 12/15/2009 b 57,753
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1,380,000 Arlington Central School District 5.000 12/15/2020 12/15/2012 b 1,474,861
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10,000 Arlington Central School District 5.625 05/15/2022 05/15/2007 b 11,771
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6,940,000 Babylon IDA (WSNCHS East, Inc.) 6.500 08/01/2019 s 08/01/2010 b 8,051,719
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1,765,000 Battery Park City Authority 5.250 11/01/2017 11/01/2003 b 1,818,709
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105,000 Battery Park City Authority 5.250 11/01/2017 11/01/2003 b 108,269
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5,000 Battery Park City Authority 5.250 11/01/2017 11/01/2003 b 5,156
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2,800,000 Battery Park City Authority 5.500 11/01/2010 11/01/2003 b 2,895,284
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245,000 Battery Park City Authority 5.650 12/01/2013 s 12/01/2003 b 245,289
9 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 325,000 Battery Park City Authority 5.700% 11/01/2020 11/01/2003 b $ 335,618
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125,000 Battery Park City Authority 5.700 11/01/2020 11/01/2003 b 129,127
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360,000 Battery Park City Authority 5.700 11/01/2023 11/01/2003 b 374,591
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1,955,000 Battery Park City Authority 5.750 06/01/2023 s 12/01/2003 b 1,961,549
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3,455,000 Battery Park City Authority 5.800 11/01/2022 s 11/01/2003 b 3,567,322
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455,000 Blauvelt Volunteer Fire Company 6.000 10/15/2008 06/08/2006 c 456,770
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10,000 Brookhaven GO 6.400 10/01/2010 10/01/2003 b 10,245
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885,000 Brookhaven IDA
(Alternatives for Children) 7.000 02/01/2013 07/09/2009 c 918,285
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1,665,000 Brookhaven IDA (Dowling College) 6.500 11/01/2012 11/01/2012 1,668,846
- --------------------------------------------------------------------------------------------------------------------
690,000 Brookhaven IDA (Stony Brook Foundation) 5.750 11/01/2008 06/19/2006 c 741,046
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90,000 Broome County COP 5.250 04/01/2022 s 04/01/2004 b 93,976
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505,000 Buffalo GO 6.000 12/01/2015 12/01/2009 a 617,458
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600,000 Carnegie Redevelopment Corp. i 6.250 09/01/2005 08/31/2004 c 598,920
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1,550,000 Carnegie Redevelopment Corp. i 6.500 09/01/2011 05/17/2009 c 1,546,063
- --------------------------------------------------------------------------------------------------------------------
435,000 Cattaraugus County IDA
(Jamestown Community College) 6.000 07/01/2012 s 07/01/2010 b 486,752
- --------------------------------------------------------------------------------------------------------------------
8,675,000 Cayuga County COP
(Auburn Memorial Hospital) 6.000 01/01/2021 s 01/01/2004 b 9,015,667
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1,075,000 Chautaugua County Tobacco Asset
Securitization Corp. 6.250 07/01/2016 01/11/2015 c 1,065,669
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2,035,000 Chautauqua County Tobacco Asset
Securitization Corp. 6.000 07/01/2012 10/15/2008 c 2,028,284
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3,180,000 Chautauqua County Tobacco Asset
Securitization Corp. 6.500 07/01/2024 06/07/2021 c 3,172,400
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15,660,000 Chautauqua County Tobacco Asset
Securitization Corp. 6.750 07/01/2040 05/28/2034 c 15,594,385
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2,500,000 Clarence IDA (Bristol Village) 6.000 01/20/2044 01/20/2015 b 2,723,075
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100,000 Clifton Park GO 5.100 02/01/2011 02/01/2004 b 102,159
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470,000 Clifton Springs Hospital & Clinic 7.000 01/01/2005 07/09/2004 c 469,351
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6,690,000 Columbia County IDA
(Hudson Valley Care Centers) 6.875 03/20/2037 s 03/20/2012 b 7,725,813
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4,195,000 Cortland County IDA
(Cortland Memorial Hospital) 5.625 07/01/2024 s 07/01/2013 b 4,482,861
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30,000 Dutchess County GO 5.375 03/15/2014 03/15/2006 b 33,009
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1,000,000 Dutchess County IDA (Bard College) 7.000 11/01/2017 s 11/01/2003 b 1,036,750
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5,205,000 Dutchess County IDA (Marist College) 5.150 07/01/2017 07/01/2013 b 5,485,810
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2,825,000 Dutchess County IDA
(Vassar Brothers Hospital) 6.500 04/01/2020 s 04/01/2010 b 3,084,448
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2,800,000 East Rochester Hsg. Authority
(Rochester St. Mary's Residence
Facility) 5.375 12/20/2022 s 12/20/2012 b 2,984,968
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550,000 East Rochester Hsg. Authority
(St. John's Meadows) 5.750 08/01/2037 s 08/01/2009 b 591,156
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2,250,000 Erie County
IDA (Medaille College) 6.875 10/01/2013 06/01/2010 c 2,270,250
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670,000 Erie County IDA (Medaille College) 7.250 11/01/2010 08/20/2007 c 684,197
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7,885,000 Erie County Tobacco Asset
Securitization Corp. 6.000 07/15/2020 10/03/2009 c 7,655,704
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620,000 Erie County Tobacco Asset
Securitization Corp. 6.125 07/15/2030 06/07/2020 c 584,474
10 LIMITED TERM NEW YORK MUNICIPAL FUND
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 8,205,000 Erie County Tobacco Asset
Securitization Corp. 6.250% 07/15/2040 10/15/2026 c $ 7,829,457
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16,825,000 Erie County Tobacco Asset
Securitization Corp. 6.500 07/15/2024 07/15/2011 b 16,910,976
- --------------------------------------------------------------------------------------------------------------------
2,990,000 Erie County Tobacco Asset
Securitization Corp. 6.750 07/15/2040 s 07/15/2011 b 3,003,276
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1,000,000 Essex County IDA
(International Paper Company) 5.800 12/01/2019 12/01/2007 b 1,031,480
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25,000 Fairport GO 5.000 05/15/2006 11/15/2003 b 25,068
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1,600,000 Franklin County IDA COP 8.125 08/01/2006 08/12/2005 c 1,659,904
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960,000 Franklin County SWMA 6.000 06/01/2005 08/01/2004 b 977,510
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2,720,000 Franklin County SWMA 6.125 06/01/2009 s 06/01/2005 b 2,803,912
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360,000 Franklin County SWMA 6.250 06/01/2015 s 06/01/2005 b 367,690
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770,000 Hamilton EHC (Hamilton Apartments) 11.250 01/01/2015 s 11/01/2003 b 789,496
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1,700,000 Hempstead IDA (Adelphi University) 5.750 06/01/2022 s 06/01/2012 b 1,848,767
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2,385,000 Herkimer County IDA (Burrows Paper) i 8.000 01/01/2009 09/07/2006 c 2,342,809
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860,000 Herkimer County IDA (College Foundation) 5.850 11/01/2010 08/25/2007 c 936,334
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2,180,000 Herkimer Hsg. Authority 7.150 03/01/2011 09/01/2006 b 2,210,716
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55,025,000 Hsg. NY Corp. 5.000 11/01/2018 11/01/2003 b 56,699,411
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3,230,000 Hsg. NY Corp. 5.500 11/01/2020 s 11/01/2005 b 3,332,552
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20,000 Hsg. NY Corp. 5.500 11/01/2020 11/01/2003 b 20,635
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15,000 Hudson HDC
(Providence Hall--Schuyler Court) 6.400 07/01/2012 s 01/01/2004 b 15,104
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2,090,000 Hudson HDC
(Providence Hall--Schuyler Court) 6.500 01/01/2025 s 01/01/2004 b 2,155,312
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280,000 Hudson IDA (Have, Inc.) 7.125 12/01/2007 01/21/2006 c 276,954
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90,000 Huntington GO 5.500 04/01/2017 10/01/2003 b 92,637
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80,000 Islip Union Free School District GO 5.625 07/15/2012 07/15/2003 b 81,860
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2,970,000 Jamestown Hsg. Authority 6.125 07/01/2010 02/01/2007 b 2,973,118
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2,000,000 Jefferson County IDA
(Champion International) 7.200 12/01/2020 11/15/2003 b 2,047,160
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30,000,000 L.I. Power Authority VRDB 1.050 v 05/01/2033 07/02/2003 f 30,000,000
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7,390,000 L.I. Power Authority, Series A 5.000 12/01/2015 06/01/2008 b 8,044,902
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8,765,000 L.I. Power Authority, Series A 5.000 12/01/2018 06/01/2008 b 9,274,334
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5,095,000 L.I. Power Authority, Series A 5.125 12/01/2016 06/01/2008 b 5,545,398
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75,000 L.I. Power Authority, Series A 5.125 12/01/2022 s 06/01/2008 b 78,588
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25,000 L.I. Power Authority, Series A 5.300 12/01/2019 06/01/2008 b 27,108
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12,365,000 L.I. Power Authority, Series C 5.500 09/01/2020 03/01/2008 b 12,962,477
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10,000 Liberty GO 8.200 10/15/2016 10/15/2003 b 10,089
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25,000 Liberty GO 8.200 10/15/2018 10/15/2003 b 25,204
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25,000 Liberty GO 8.200 10/15/2019 10/15/2003 b 25,196
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85,000 Lillian Cooper HDC 7.000 01/01/2022 s 01/01/2004 b 85,132
- --------------------------------------------------------------------------------------------------------------------
215,000 Lillian Cooper HDC 7.000 01/01/2022 01/01/2004 b 223,224
- --------------------------------------------------------------------------------------------------------------------
25,000 Lillian Cooper HDC 7.000 01/01/2023 s 01/01/2004 b 25,290
- --------------------------------------------------------------------------------------------------------------------
75,000 Lillian Cooper HDC 7.375 01/01/2023 s 01/01/2004 b 76,969
- --------------------------------------------------------------------------------------------------------------------
3,950,000 Lockport HDC 6.000 10/01/2018 s 10/01/2009 b 4,101,522
11 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 850,000 Madison County IDA (Morrisville College) 6.750% 07/01/2007 08/10/2005 c $ 867,425
- --------------------------------------------------------------------------------------------------------------------
290,000 Madison County IDA
(Oneida Healthcare Center) 5.300 07/01/2005 01/05/2005 c 310,738
- --------------------------------------------------------------------------------------------------------------------
2,260,000 Madison County IDA
(Oneida Healthcare Center) 5.500 02/01/2016 02/01/2013 b 2,461,728
- --------------------------------------------------------------------------------------------------------------------
170,000 Mechanicsville HDC 6.900 08/01/2022 s 09/01/2003 b 170,857
- --------------------------------------------------------------------------------------------------------------------
215,000 Medina Hsg. Corp. 8.250 08/15/2011 s 08/15/2003 b 217,690
- --------------------------------------------------------------------------------------------------------------------
480,000 Middleton IDA (Fleurchem, Inc.) i 7.125 12/01/2008 08/23/2006 c 479,429
- --------------------------------------------------------------------------------------------------------------------
40,000 Middletown Hsg. (Alice V. Tomaso Plaza) 6.000 07/01/2009 07/01/2004 b 42,560
- --------------------------------------------------------------------------------------------------------------------
785,000 Middletown IDA
(Southwinds Retirement Home) 5.875 03/01/2007 10/25/2005 c 772,856
- --------------------------------------------------------------------------------------------------------------------
5,000 Monroe County Airport Authority (GRIA) 0.000 z 01/01/2004 01/01/2004 4,965
- --------------------------------------------------------------------------------------------------------------------
50,000 Monroe County Airport Authority (GRIA) 5.375 01/01/2019 01/01/2004 b 50,858
- --------------------------------------------------------------------------------------------------------------------
100,000 Monroe County Airport Authority (GRIA) 5.400 01/01/2008 01/01/2004 b 102,340
- --------------------------------------------------------------------------------------------------------------------
6,285,000 Monroe County COP 8.050 01/01/2011 s 01/01/2004 b 6,498,061
- --------------------------------------------------------------------------------------------------------------------
75,000 Monroe County GO 5.600 12/01/2013 12/01/2003 b 78,097
- --------------------------------------------------------------------------------------------------------------------
1,755,000 Monroe County IDA (Al Sigl Center) 6.125 12/15/2008 08/17/2006 c 1,784,800
- --------------------------------------------------------------------------------------------------------------------
525,000 Monroe County IDA (Al Sigl Center) 6.375 12/15/2005 12/29/2004 c 544,960
- --------------------------------------------------------------------------------------------------------------------
1,135,000 Monroe County IDA (Al Sigl Center) 6.750 12/15/2010 02/01/2007 c 1,164,226
- --------------------------------------------------------------------------------------------------------------------
25,000 Monroe County IDA
(Collegiate Hsg. Foundation--RIT) 5.000 04/01/2010 04/01/2010 25,829
- --------------------------------------------------------------------------------------------------------------------
790,000 Monroe County IDA
(Dayton Rogers Manufacturing) 5.850 12/01/2006 06/28/2005 c 766,592
- --------------------------------------------------------------------------------------------------------------------
1,285,000 Monroe County IDA
(DePaul Community Facilities) 6.500 02/01/2024 s 02/01/2004 b 1,328,112
- --------------------------------------------------------------------------------------------------------------------
930,000 Monroe County IDA (DePaul Properties) 5.900 09/01/2007 10/13/2005 c 906,080
- --------------------------------------------------------------------------------------------------------------------
80,000 Monroe County IDA
(Jewish Home of Rochester Senior Hsg.) 5.700 04/01/2004 04/01/2004 80,587
- --------------------------------------------------------------------------------------------------------------------
60,000 Monroe County IDA
(Jewish Home of Rochester Senior Hsg.) 5.800 04/01/2005 04/01/2005 60,901
- --------------------------------------------------------------------------------------------------------------------
65,000 Monroe County IDA
(Jewish Home of Rochester Senior Hsg.) 5.900 04/01/2006 04/01/2006 66,399
- --------------------------------------------------------------------------------------------------------------------
75,000 Monroe County IDA
(Jewish Home of Rochester Senior Hsg.) 6.100 04/01/2008 04/01/2007 b 76,867
- --------------------------------------------------------------------------------------------------------------------
110,000 Monroe County IDA
(Jewish Home of Rochester Senior Hsg.) 6.200 04/01/2009 04/01/2007 b 112,330
- --------------------------------------------------------------------------------------------------------------------
100,000 Monroe County IDA
(Nazareth College of Rochester) 5.250 04/01/2018 04/01/2008 b 108,307
- --------------------------------------------------------------------------------------------------------------------
1,040,000 Monroe County IDA (Piano Works) 6.625 11/01/2006 06/01/2005 c 1,049,506
- --------------------------------------------------------------------------------------------------------------------
70,000 Monroe County IDA (West End Business) 6.750 12/01/2004 06/01/2004 c 70,086
- --------------------------------------------------------------------------------------------------------------------
19,380,000 Monroe County Tobacco Asset
Securitization Corp. 6.150 06/01/2025 05/16/2009 c 18,437,938
- --------------------------------------------------------------------------------------------------------------------
11,165,000 Monroe County Tobacco Asset
Securitization Corp. 6.375 06/01/2019 s 06/01/2011 b 11,301,101
- --------------------------------------------------------------------------------------------------------------------
20,305,000 Monroe County Tobacco Asset
Securitization Corp. 6.375 06/01/2035 08/31/2021 c 19,617,473
- --------------------------------------------------------------------------------------------------------------------
3,000,000 Monroe County Tobacco Asset
Securitization Corp. 6.625 06/01/2042 s 06/01/2011 b 2,997,270
12 LIMITED TERM NEW YORK MUNICIPAL FUND
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 285,000 Monroe Newpower Corp. 4.500% 01/01/2011 10/01/2010 c $ 294,813
- --------------------------------------------------------------------------------------------------------------------
155,000 Monroe Newpower Corp. 4.700 01/01/2012 10/01/2011 c 161,676
- --------------------------------------------------------------------------------------------------------------------
410,000 Monroe Newpower Corp. 4.800 01/01/2013 10/01/2012 c 428,950
- --------------------------------------------------------------------------------------------------------------------
7,800,000 Monroe Newpower Corp. 6.375 01/01/2024 07/01/2009 b 8,504,496
- --------------------------------------------------------------------------------------------------------------------
730,000 Montgomery County IDA (ASMF) i, t, u 6.500 01/15/2004 07/15/2003 b 374,125
- --------------------------------------------------------------------------------------------------------------------
375,000 Mount Vernon IDA (Meadowview) 6.000 06/01/2009 01/31/2007 c 379,815
- --------------------------------------------------------------------------------------------------------------------
25,000 MTA Commuter Facilities, Series 7 5.625 07/01/2016 s 01/01/2004 b 25,528
- --------------------------------------------------------------------------------------------------------------------
6,600,000 MTA Commuter Facilities, Series A 6.500 07/01/2016 07/01/2007 a 7,794,204
- --------------------------------------------------------------------------------------------------------------------
10,000 MTA Commuter Facilities, Series B 5.000 07/01/2017 07/01/2009 a 11,125
- --------------------------------------------------------------------------------------------------------------------
5,000 MTA Commuter Facilities, Series D 5.000 07/01/2016 07/01/2007 a 5,602
- --------------------------------------------------------------------------------------------------------------------
2,000,000 MTA Dedicated Tax Fund, Series A 6.125 04/01/2015 04/01/2010 a 2,424,020
- --------------------------------------------------------------------------------------------------------------------
1,000,000 MTA Dedicated Tax Fund, Series A 6.125 04/01/2017 04/01/2010 a 1,212,010
- --------------------------------------------------------------------------------------------------------------------
215,000 MTA Service Contract, Series 3 7.375 07/01/2008 08/21/2006 c 246,119
- --------------------------------------------------------------------------------------------------------------------
15,350,000 MTA Service Contract, Series A 5.750 07/01/2031 07/01/2012 b 17,344,272
- --------------------------------------------------------------------------------------------------------------------
7,135,000 MTA, Series A 6.500 07/01/2016 07/01/2007 a 8,426,007
- --------------------------------------------------------------------------------------------------------------------
55,000 MTA, Series B 5.000 07/01/2020 s 07/01/2007 b 59,971
- --------------------------------------------------------------------------------------------------------------------
20,000,000 MTA, Series U 5.750 11/15/2032 11/15/2012 b 21,861,800
- --------------------------------------------------------------------------------------------------------------------
15,000,000 Municipal Assistance Corp. for
New York, NY 6.000 07/01/2008 07/01/2007 b 17,437,950
- --------------------------------------------------------------------------------------------------------------------
100,000 Nassau County GO 5.875 08/01/2014 08/01/2003 b 102,349
- --------------------------------------------------------------------------------------------------------------------
5,000 Nassau County GO 5.875 05/15/2015 11/15/2003 b 5,175
- --------------------------------------------------------------------------------------------------------------------
20,000 Nassau County GO 6.375 05/15/2013 11/15/2003 b 20,549
- --------------------------------------------------------------------------------------------------------------------
10,000 Nassau County GO 6.375 05/15/2014 11/15/2003 b 10,362
- --------------------------------------------------------------------------------------------------------------------
710,000 Nassau County GO Combined
Sewer Districts, Series F 7.000 03/01/2015 03/01/2010 b 865,831
- --------------------------------------------------------------------------------------------------------------------
720,000 Nassau County GO Combined
Sewer Districts, Series F 7.000 03/01/2016 03/01/2010 b 878,026
- --------------------------------------------------------------------------------------------------------------------
730,000 Nassau County GO Combined
Sewer Districts, Series F 7.000 03/01/2017 03/01/2010 b 890,220
- --------------------------------------------------------------------------------------------------------------------
740,000 Nassau County GO Combined
Sewer Districts, Series F 7.000 03/01/2018 03/01/2010 b 902,415
- --------------------------------------------------------------------------------------------------------------------
745,000 Nassau County GO Combined
Sewer Districts, Series F 7.000 03/01/2019 03/01/2010 b 908,513
- --------------------------------------------------------------------------------------------------------------------
90,000 Nassau County GO Combined
Sewer Districts, Series F 7.000 03/01/2020 03/01/2010 b 109,753
- --------------------------------------------------------------------------------------------------------------------
1,300,000 Nassau County GO General
Improvement, Series F 6.500 03/01/2018 03/01/2010 b 1,546,714
- --------------------------------------------------------------------------------------------------------------------
1,635,000 Nassau County GO General
Improvement, Series F 6.500 03/01/2019 03/01/2010 b 1,945,290
- --------------------------------------------------------------------------------------------------------------------
705,000 Nassau County GO General
Improvement, Series F 7.000 03/01/2014 03/01/2010 b 864,471
- --------------------------------------------------------------------------------------------------------------------
3,435,000 Nassau County GO General
Improvement, Series F 7.000 03/01/2016 03/01/2010 b 4,330,814
- --------------------------------------------------------------------------------------------------------------------
130,000 Nassau County IDA (ACLD) 7.250 10/01/2004 04/01/2004 c 130,927
- --------------------------------------------------------------------------------------------------------------------
590,000 Nassau County IDA (ALIA--ACDS) 7.000 10/01/2016 06/15/2011 c 615,689
- --------------------------------------------------------------------------------------------------------------------
880,000 Nassau County IDA (ALIA--CMA) 7.000 10/01/2016 05/29/2011 c 921,721
- --------------------------------------------------------------------------------------------------------------------
675,000 Nassau County IDA (ALIA--CRR) 7.000 10/01/2016 05/29/2010 g 707,002
13 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
<s>
$ 145,000 Nassau County IDA (ALIA--FREE) 7.000% 10/01/2016 08/05/2011 c $ 151,874
- --------------------------------------------------------------------------------------------------------------------
615,000 Nassau County IDA (ALIA--HKSB) 7.000 10/01/2016 05/29/2010 g 644,157
- --------------------------------------------------------------------------------------------------------------------
355,000 Nassau County IDA (North Shore CFGA) 5.750 05/01/2008 06/11/2006 c 347,939
- --------------------------------------------------------------------------------------------------------------------
1,030,000 Nassau County IDA (United Cerebral
Palsy) 5.750 11/01/2007 11/20/2006 c 1,016,795
- --------------------------------------------------------------------------------------------------------------------
2,565,000 Nassau County IDA (United Cerebral
Palsy) 5.750 11/01/2009 11/20/2006 c 2,508,134
- --------------------------------------------------------------------------------------------------------------------
680,000 Nassau County Tobacco Settlement Corp. 5.300 07/15/2012 07/15/2003 e 688,364
- --------------------------------------------------------------------------------------------------------------------
545,000 Nassau County Tobacco Settlement Corp. 5.400 07/15/2013 07/15/2004 e 552,194
- --------------------------------------------------------------------------------------------------------------------
615,000 Nassau County Tobacco Settlement Corp. 5.500 07/15/2014 07/15/2005 e 623,678
- --------------------------------------------------------------------------------------------------------------------
645,000 Nassau County Tobacco Settlement Corp. 5.625 07/15/2015 07/15/2006 e 655,881
- --------------------------------------------------------------------------------------------------------------------
3,115,000 Nassau County Tobacco Settlement Corp. 5.700 07/15/2015 07/15/2007 e 3,176,957
- --------------------------------------------------------------------------------------------------------------------
590,000 Nassau County Tobacco Settlement Corp. 5.750 07/15/2016 07/15/2007 e 591,109
- --------------------------------------------------------------------------------------------------------------------
150,000 Nassau County Tobacco Settlement Corp. 6.125 07/15/2018 07/15/2010 e 150,837
- --------------------------------------------------------------------------------------------------------------------
125,000 Nassau County Tobacco Settlement Corp. 6.200 07/15/2018 07/15/2010 b 126,229
- --------------------------------------------------------------------------------------------------------------------
4,530,000 Nassau County Tobacco Settlement Corp. 6.250 07/15/2019 07/15/2010 b 4,561,574
- --------------------------------------------------------------------------------------------------------------------
2,215,000 Nassau County Tobacco Settlement Corp. 6.250 07/15/2019 s 07/15/2010 b 2,230,439
- --------------------------------------------------------------------------------------------------------------------
3,545,000 Nassau County Tobacco Settlement Corp. 6.250 07/15/2020 07/15/2010 b 3,549,644
- --------------------------------------------------------------------------------------------------------------------
4,025,000 Nassau County Tobacco Settlement Corp. 6.250 07/15/2020 s 07/15/2010 b 4,030,273
- --------------------------------------------------------------------------------------------------------------------
190,000 Nassau County Tobacco Settlement Corp. 6.250 07/15/2021 07/15/2013 e 188,573
- --------------------------------------------------------------------------------------------------------------------
18,370,000 Nassau County Tobacco Settlement Corp. 6.400 07/15/2033 07/15/2024 e 17,936,284
- --------------------------------------------------------------------------------------------------------------------
8,000,000 Nassau County Tobacco Settlement Corp. 6.500 07/15/2027 07/15/2019 e 7,931,520
- --------------------------------------------------------------------------------------------------------------------
41,500,000 Nassau County Tobacco Settlement Corp. 6.600 07/15/2039 07/15/2029 e 41,322,795
- --------------------------------------------------------------------------------------------------------------------
70,000 Nassau Healthcare Corp. 5.750 08/01/2029 08/01/2009 b 77,769
- --------------------------------------------------------------------------------------------------------------------
345,000 Nassau IDA (EBS North Hills LLC) 7.000 11/01/2013 03/28/2010 c 350,751
- --------------------------------------------------------------------------------------------------------------------
160,000 Nassau IDA (EBS North Hills LLC) 7.000 11/01/2013 03/28/2010 c 160,840
- --------------------------------------------------------------------------------------------------------------------
210,000 Nassau IDA (EBS North Hills LLC) w 7.000 11/01/2013 03/28/2010 c 211,102
- --------------------------------------------------------------------------------------------------------------------
305,000 Nassau IDA (EBS North Hills LLC) w 7.000 11/01/2013 08/01/2003 b 305,070
- --------------------------------------------------------------------------------------------------------------------
225,000 Nassau IDA (EBS North Hills LLC) w 7.000 11/01/2013 03/28/2010 c 226,181
- --------------------------------------------------------------------------------------------------------------------
225,000 Nassau IDA (EBS North Hills LLC) w 7.000 11/01/2013 03/28/2010 c 226,181
- --------------------------------------------------------------------------------------------------------------------
50,000 New Rochelle GO, Series A 6.200 03/15/2021 03/15/2004 b 52,514
- --------------------------------------------------------------------------------------------------------------------
25,000 New Rochelle GO, Series A 6.200 03/15/2022 03/15/2004 b 26,257
- --------------------------------------------------------------------------------------------------------------------
1,295,000 New Rochelle IDA
(College of New Rochelle) 5.500 07/01/2019 10/20/2010 g 1,363,000
- --------------------------------------------------------------------------------------------------------------------
555,000 New Rochelle Municipal Hsg. Authority,
Series A 5.000 12/01/2008 10/12/2006 c 546,453
- --------------------------------------------------------------------------------------------------------------------
9,115,000 New Rochelle Municipal Hsg. Authority,
Series A 5.550 12/01/2014 03/12/2012 c 8,906,084
- --------------------------------------------------------------------------------------------------------------------
85,000 New Rochelle Municipal Hsg. Authority,
Series B u, t 6.500 12/01/2014 04/30/2012 c 83,725
- --------------------------------------------------------------------------------------------------------------------
1,860,000 Newark-Wayne Community Hospital 7.600 09/01/2015 09/05/2010 c 1,831,654
- --------------------------------------------------------------------------------------------------------------------
60,000 Newburgh GO 7.600 04/01/2008 10/01/2003 b 60,964
- --------------------------------------------------------------------------------------------------------------------
780,000 Newburgh IDA (Bourne & Kenney
Redevelopment Company) 5.650 08/01/2020 s 08/01/2009 b 822,970
- --------------------------------------------------------------------------------------------------------------------
25,000 Niagara County GO 5.875 07/15/2009 07/15/2004 b 26,677
- --------------------------------------------------------------------------------------------------------------------
150,000 Niagara County IDA
(American Ref-Fuel Company) 5.550 11/15/2024 11/15/2012 b 158,926
- --------------------------------------------------------------------------------------------------------------------
5,000,000 Niagara County IDA (Solid Waste
Disposal) 5.450 11/15/2025 11/15/2012 d 5,395,250
14 LIMITED TERM NEW YORK MUNICIPAL FUND
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 7,000,000 Niagara County IDA (Solid Waste
Disposal) 5.550% 11/15/2024 11/15/2011 b $ 7,550,900
- --------------------------------------------------------------------------------------------------------------------
9,850,000 Niagara County IDA (Solid Waste
Disposal) 5.625 11/15/2024 11/15/2012 b 10,545,410
- --------------------------------------------------------------------------------------------------------------------
1,175,000 Niagara County Tobacco Asset
Securitization Corp. 5.875 05/15/2022 05/15/2015 e 1,117,730
- --------------------------------------------------------------------------------------------------------------------
1,080,000 Niagara County Tobacco Asset
Securitization Corp. 6.250 05/15/2034 10/15/2023 c 1,032,934
- --------------------------------------------------------------------------------------------------------------------
725,000 Niagara County Tobacco Asset
Securitization Corp. 6.250 05/15/2040 10/01/2029 c 691,817
- --------------------------------------------------------------------------------------------------------------------
11,995,000 Niagara County Tobacco Asset
Securitization Corp. 6.750 05/15/2029 s 05/10/2011 b 12,010,354
- --------------------------------------------------------------------------------------------------------------------
110,000 Niagara Falls Bridge Commission,
Series B 5.250 10/01/2021 10/01/2005 b 113,120
- --------------------------------------------------------------------------------------------------------------------
1,195,000 Niagara Falls CSD COP
(High School Facility) 6.500 06/15/2019 06/15/2009 b 1,309,792
- --------------------------------------------------------------------------------------------------------------------
2,500,000 Niagara Frontier Transportation Authority
(Buffalo Niagara International Airport) 5.625 04/01/2029 s 04/01/2009 b 2,688,600
- --------------------------------------------------------------------------------------------------------------------
30,000 North Salem Central School District 5.700 10/15/2011 10/15/2004 b 32,104
- --------------------------------------------------------------------------------------------------------------------
4,330,000 NY Counties Tobacco Trust I (TASC) 5.800 06/01/2023 11/03/2005 c 4,352,126
- --------------------------------------------------------------------------------------------------------------------
14,195,000 NY Counties Tobacco Trust I (TASC) 6.300 06/01/2019 s 06/01/2011 b 14,302,172
- --------------------------------------------------------------------------------------------------------------------
11,415,000 NY Counties Tobacco Trust I (TASC) 6.500 06/01/2035 08/21/2018 c 11,216,836
- --------------------------------------------------------------------------------------------------------------------
70,000 NY Counties Tobacco Trust I (TASC) 6.625 06/01/2042 s 10/01/2023 c 69,936
- --------------------------------------------------------------------------------------------------------------------
26,440,000 NY Counties Tobacco Trust II (TASC) 5.250 06/01/2025 11/04/2008 c 23,191,846
- --------------------------------------------------------------------------------------------------------------------
1,675,000 NY Counties Tobacco Trust II (TASC) 5.750 06/01/2014 06/01/2014 c 1,628,921
- --------------------------------------------------------------------------------------------------------------------
2,120,000 NY Counties Tobacco Trust II (TASC) 6.000 06/01/2015 06/01/2015 2,089,938
- --------------------------------------------------------------------------------------------------------------------
2,330,000 NY Counties Tobacco Trust II (TASC) 6.000 06/01/2016 06/01/2016 2,295,143
- --------------------------------------------------------------------------------------------------------------------
4,000,000 NY Tobacco Settlement Financing
Corp. (TASC) 5.250 06/01/2012 06/01/2006 b 4,198,800
- --------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 5.250 11/15/2021 s 11/15/2007 b 10,280
- --------------------------------------------------------------------------------------------------------------------
70,000 NYC GO 5.375 10/01/2020 10/01/2003 b 71,016
- --------------------------------------------------------------------------------------------------------------------
100,000 NYC GO 5.375 10/01/2021 10/01/2004 b 101,366
- --------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 5.375 10/01/2022 10/01/2003 b 10,122
- --------------------------------------------------------------------------------------------------------------------
20,000 NYC GO 5.500 10/01/2014 10/01/2005 b 20,531
- --------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 5.500 10/01/2016 10/01/2005 b 10,265
- --------------------------------------------------------------------------------------------------------------------
14,765,000 NYC GO 5.500 05/15/2024 s 05/15/2010 b 15,509,599
- --------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 5.600 12/01/2010 12/01/2003 b 15,130
- --------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 5.625 10/01/2012 10/01/2003 b 10,269
- --------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 5.625 10/01/2013 10/01/2005 b 15,403
- --------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 5.625 10/01/2013 10/01/2005 b 5,115
- --------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 5.625 08/01/2014 08/01/2006 b 15,717
- --------------------------------------------------------------------------------------------------------------------
180,000 NYC GO 5.625 08/01/2015 08/01/2004 b 185,011
- --------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 5.750 05/15/2012 05/15/2004 b 10,183
- --------------------------------------------------------------------------------------------------------------------
20,000 NYC GO 5.750 08/15/2012 08/15/2005 b 20,419
- --------------------------------------------------------------------------------------------------------------------
10,750,000 NYC GO 5.750 10/15/2012 10/15/2007 b 12,035,915
- --------------------------------------------------------------------------------------------------------------------
1,205,000 NYC GO 5.750 02/01/2014 s 02/01/2006 b 1,308,136
- --------------------------------------------------------------------------------------------------------------------
505,000 NYC GO 5.750 02/01/2015 s 02/01/2008 b 547,561
- --------------------------------------------------------------------------------------------------------------------
25,000 NYC GO 5.750 08/01/2015 08/01/2005 b 25,477
- --------------------------------------------------------------------------------------------------------------------
55,000 NYC GO 5.750 08/01/2015 08/01/2003 b 56,008
15 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 1,035,000 NYC GO 5.750% 03/01/2018 03/01/2013 b $ 1,130,789
- --------------------------------------------------------------------------------------------------------------------
500,000 NYC GO 5.750 08/01/2018 08/01/2012 b 544,030
- --------------------------------------------------------------------------------------------------------------------
500,000 NYC GO 5.750 08/01/2018 08/01/2012 b 544,030
- --------------------------------------------------------------------------------------------------------------------
1,400,000 NYC GO 5.750 02/01/2019 s 02/01/2008 b 1,500,646
- --------------------------------------------------------------------------------------------------------------------
5,810,000 NYC GO 5.750 03/01/2021 03/01/2013 b 6,305,128
- --------------------------------------------------------------------------------------------------------------------
7,195,000 NYC GO 5.750 03/15/2022 03/15/2012 b 7,731,891
- --------------------------------------------------------------------------------------------------------------------
60,000 NYC GO 5.800 08/01/2013 08/01/2005 b 61,073
- --------------------------------------------------------------------------------------------------------------------
10,520,000 NYC GO 5.875 06/01/2019 06/01/2012 b 11,487,840
- --------------------------------------------------------------------------------------------------------------------
7,015,000 NYC GO 5.875 08/01/2019 08/01/2012 b 7,670,061
- --------------------------------------------------------------------------------------------------------------------
8,075,000 NYC GO 5.875 06/01/2020 06/01/2012 b 8,824,037
- --------------------------------------------------------------------------------------------------------------------
9,770,000 NYC GO 5.875 06/01/2021 06/01/2012 b 10,653,892
- --------------------------------------------------------------------------------------------------------------------
430,000 NYC GO 5.875 08/01/2024 s 08/01/2006 b 479,424
- --------------------------------------------------------------------------------------------------------------------
4,250,000 NYC GO 5.875 08/01/2024 s 08/01/2008 b 4,452,555
- --------------------------------------------------------------------------------------------------------------------
25,000 NYC GO 5.900 08/01/2010 08/01/2006 b 27,092
- --------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 6.000 08/01/2006 08/01/2003 b 10,186
- --------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 6.000 08/01/2006 08/01/2003 b 15,054
- --------------------------------------------------------------------------------------------------------------------
50,000 NYC GO 6.000 08/01/2006 08/01/2003 a 50,244
- --------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 6.000 08/01/2007 08/01/2003 b 5,093
- --------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 6.000 08/01/2007 08/01/2003 b 5,018
- --------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 6.000 08/01/2008 08/01/2003 b 5,018
- --------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 6.000 08/01/2009 08/01/2003 b 10,186
- --------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 6.000 05/15/2010 11/15/2003 b 15,277
- --------------------------------------------------------------------------------------------------------------------
25,000 NYC GO 6.000 08/01/2010 08/01/2003 a 25,483
- --------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 6.000 08/01/2010 08/01/2003 b 5,093
- --------------------------------------------------------------------------------------------------------------------
60,000 NYC GO 6.000 02/01/2011 02/01/2006 b 65,507
- --------------------------------------------------------------------------------------------------------------------
30,000 NYC GO 6.000 02/15/2011 02/15/2005 a 32,630
- --------------------------------------------------------------------------------------------------------------------
20,000 NYC GO 6.000 08/01/2011 08/01/2003 a 20,386
- --------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 6.000 08/01/2011 08/01/2003 b 10,181
- --------------------------------------------------------------------------------------------------------------------
140,000 NYC GO 6.000 08/01/2011 08/01/2003 a 140,440
- --------------------------------------------------------------------------------------------------------------------
45,000 NYC GO 6.000 02/15/2012 02/15/2005 b 48,945
- --------------------------------------------------------------------------------------------------------------------
100,000 NYC GO 6.000 08/01/2012 08/01/2003 b 101,932
- --------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 6.000 08/01/2012 08/01/2003 b 15,272
- --------------------------------------------------------------------------------------------------------------------
30,000 NYC GO 6.000 08/01/2012 08/01/2003 a 30,174
- --------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 6.000 02/15/2013 02/15/2005 a 10,877
- --------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 6.000 02/15/2013 02/15/2005 b 5,322
- --------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 6.000 02/15/2014 02/15/2005 a 10,877
- --------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 6.000 02/15/2015 02/15/2005 a 16,315
- --------------------------------------------------------------------------------------------------------------------
450,000 NYC GO 6.000 08/01/2015 08/01/2015 a 451,678
- --------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 6.000 08/01/2016 s 08/01/2006 b 11,044
- --------------------------------------------------------------------------------------------------------------------
2,000,000 NYC GO 6.000 05/15/2019 05/15/2010 b 2,179,800
- --------------------------------------------------------------------------------------------------------------------
1,210,000 NYC GO 6.000 05/15/2022 05/15/2010 b 1,317,279
- --------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 6.000 02/15/2024 02/15/2006 b 10,928
- --------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 6.000 08/01/2026 s 08/01/2006 b 17,262
- --------------------------------------------------------------------------------------------------------------------
75,000 NYC GO 6.000 08/01/2026 s 08/01/2006 b 78,996
- --------------------------------------------------------------------------------------------------------------------
100,000 NYC GO 6.000 08/15/2026 s 08/15/2008 b 105,372
16 LIMITED TERM NEW YORK MUNICIPAL FUND
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 65,000 NYC GO 6.125% 08/01/2011 08/01/2004 b $ 68,540
- --------------------------------------------------------------------------------------------------------------------
210,000 NYC GO 6.125 08/01/2025 s 08/01/2007 b 240,360
- --------------------------------------------------------------------------------------------------------------------
75,000 NYC GO 6.250 08/01/2010 08/01/2004 b 80,404
- --------------------------------------------------------------------------------------------------------------------
80,000 NYC GO 6.250 08/01/2012 08/01/2006 b 92,663
- --------------------------------------------------------------------------------------------------------------------
1,920,000 NYC GO 6.250 08/01/2012 08/01/2006 b 2,137,574
- --------------------------------------------------------------------------------------------------------------------
3,875,000 NYC GO 6.250 08/01/2013 08/01/2006 b 4,488,374
- --------------------------------------------------------------------------------------------------------------------
175,000 NYC GO 6.250 08/01/2013 08/01/2006 b 194,831
- --------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 6.250 08/01/2017 08/01/2003 b 10,182
- --------------------------------------------------------------------------------------------------------------------
1,100,000 NYC GO 6.350 05/15/2014 05/15/2008 b 1,324,884
- --------------------------------------------------------------------------------------------------------------------
255,000 NYC GO 6.350 05/15/2014 05/15/2008 b 292,804
- --------------------------------------------------------------------------------------------------------------------
4,000,000 NYC GO 6.375 08/15/2009 08/15/2005 b 4,388,640
- --------------------------------------------------------------------------------------------------------------------
1,495,000 NYC GO 6.375 08/01/2010 08/01/2005 b 1,620,386
- --------------------------------------------------------------------------------------------------------------------
815,000 NYC GO 6.375 08/15/2010 08/15/2005 b 894,185
- --------------------------------------------------------------------------------------------------------------------
5,190,000 NYC GO 6.375 08/01/2012 08/15/2005 a 5,799,462
- --------------------------------------------------------------------------------------------------------------------
210,000 NYC GO 6.375 08/01/2012 08/15/2005 b 234,660
- --------------------------------------------------------------------------------------------------------------------
103,000 NYC GO 6.500 08/01/2014 08/01/2005 b 115,176
- --------------------------------------------------------------------------------------------------------------------
40,000 NYC GO 6.500 08/01/2016 08/01/2005 b 44,728
- --------------------------------------------------------------------------------------------------------------------
830,000 NYC GO 6.500 05/15/2017 05/15/2010 b 938,273
- --------------------------------------------------------------------------------------------------------------------
150,000 NYC GO 6.500 08/01/2019 08/01/2005 a 167,731
- --------------------------------------------------------------------------------------------------------------------
160,000 NYC GO 7.000 12/01/2006 12/01/2003 b 163,854
- --------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 7.000 02/01/2009 08/01/2003 b 5,022
- --------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 7.000 12/01/2010 12/01/2003 b 5,108
- --------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 7.000 02/01/2011 08/01/2003 b 5,023
- --------------------------------------------------------------------------------------------------------------------
30,000 NYC GO 7.000 02/01/2012 08/01/2003 b 30,120
- --------------------------------------------------------------------------------------------------------------------
25,000 NYC GO 7.000 10/01/2015 10/01/2003 a 25,162
- --------------------------------------------------------------------------------------------------------------------
70,000 NYC GO 7.000 10/01/2016 10/01/2003 a 70,455
- --------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 7.000 02/01/2018 08/01/2003 b 5,057
- --------------------------------------------------------------------------------------------------------------------
35,000 NYC GO 7.000 10/01/2018 10/01/2003 a 35,473
- --------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 7.000 10/01/2019 10/01/2003 a 15,220
- --------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 7.100 02/01/2004 08/01/2003 b 5,023
- --------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 7.200 02/01/2005 08/01/2003 b 5,025
- --------------------------------------------------------------------------------------------------------------------
40,000 NYC GO 7.250 10/01/2005 10/01/2003 a 40,606
- --------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 7.250 02/01/2007 08/01/2003 b 5,023
- --------------------------------------------------------------------------------------------------------------------
100,000 NYC GO 7.250 02/01/2007 08/01/2003 a 100,516
- --------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 7.250 08/15/2017 08/15/2003 a 16,051
- --------------------------------------------------------------------------------------------------------------------
120,000 NYC GO 7.500 08/15/2003 08/15/2003 120,863
- --------------------------------------------------------------------------------------------------------------------
20,000 NYC GO 7.500 12/01/2003 12/01/2003 a 20,532
- --------------------------------------------------------------------------------------------------------------------
10,135,000 NYC GO 7.500 02/01/2004 08/01/2003 b 10,352,902
- --------------------------------------------------------------------------------------------------------------------
2,000,000 NYC GO 7.500 02/01/2004 08/01/2003 b 2,024,560
- --------------------------------------------------------------------------------------------------------------------
25,000 NYC GO 7.500 12/01/2004 12/01/2003 a 25,659
- --------------------------------------------------------------------------------------------------------------------
110,000 NYC GO 7.500 02/01/2005 08/01/2003 b 111,341
- --------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 7.500 08/15/2005 08/15/2003 b 5,035
- --------------------------------------------------------------------------------------------------------------------
875,000 NYC GO 7.500 02/01/2006 08/01/2003 b 885,666
- --------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 7.500 02/01/2007 02/01/2004 b 15,183
- --------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 7.500 02/01/2009 08/01/2003 b 15,183
17 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 40,000 NYC GO 7.650% 02/01/2007 08/01/2003 b $ 40,493
- --------------------------------------------------------------------------------------------------------------------
30,000 NYC GO 7.750 08/15/2027 08/15/2003 b 30,204
- --------------------------------------------------------------------------------------------------------------------
20,000 NYC GO 7.750 08/15/2028 08/15/2003 b 20,136
- --------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 8.000 08/01/2003 08/01/2003 5,027
- --------------------------------------------------------------------------------------------------------------------
60,000 NYC GO 8.000 08/01/2003 08/01/2003 60,323
- --------------------------------------------------------------------------------------------------------------------
4,100,000 NYC GO CARS 10.720 r 09/01/2011 08/01/2003 b 4,194,177
- --------------------------------------------------------------------------------------------------------------------
100,000 NYC GO DIAMONDS 0.000 v 02/01/2025 02/01/2006 b 89,128
- --------------------------------------------------------------------------------------------------------------------
25,000 NYC GO DIAMONDS 0.000 v 08/01/2025 s 08/01/2007 b 20,546
- --------------------------------------------------------------------------------------------------------------------
8,250,000 NYC GO RIBS 10.019 r 08/01/2008 08/01/2003 b 8,551,042
- --------------------------------------------------------------------------------------------------------------------
4,200,000 NYC GO RIBS 10.019 r 07/29/2010 08/01/2003 b 4,353,258
- --------------------------------------------------------------------------------------------------------------------
5,400,000 NYC GO RIBS 10.117 r 08/22/2013 08/01/2003 b 5,592,564
- --------------------------------------------------------------------------------------------------------------------
3,050,000 NYC GO RIBS 10.117 r 08/27/2015 08/01/2003 b 3,158,488
- --------------------------------------------------------------------------------------------------------------------
13,150,000 NYC GO RIBS 10.845 r 08/01/2013 08/01/2003 b 13,630,106
- --------------------------------------------------------------------------------------------------------------------
6,350,000 NYC GO RIBS 10.845 r 08/01/2014 08/01/2003 b 6,581,838
- --------------------------------------------------------------------------------------------------------------------
265,000 NYC HDC (Barclay Avenue) 5.750 04/01/2007 05/21/2005 g 286,852
- --------------------------------------------------------------------------------------------------------------------
245,000 NYC HDC (Multifamily Hsg.), Series A 5.625 05/01/2012 05/01/2006 b 249,927
- --------------------------------------------------------------------------------------------------------------------
515,000 NYC HDC (Multifamily Hsg.), Series A 5.750 11/01/2018 s 05/01/2007 b 551,426
- --------------------------------------------------------------------------------------------------------------------
2,735,000 NYC HDC (Multifamily Hsg.), Series A 6.550 10/01/2015 s 10/01/2003 b 2,850,554
- --------------------------------------------------------------------------------------------------------------------
275,000 NYC HDC (Multifamily Hsg.), Series A 6.550 04/01/2018 s 10/01/2003 b 281,619
- --------------------------------------------------------------------------------------------------------------------
29,000,000 NYC HDC (Multifamily Hsg.), Series A 6.600 04/01/2030 s 10/01/2003 b 29,710,790
- --------------------------------------------------------------------------------------------------------------------
5,245,000 NYC HDC (Multifamily Hsg.), Series B 5.875 11/01/2018 s 05/01/2009 b 5,500,117
- --------------------------------------------------------------------------------------------------------------------
505,000 NYC HDC (Multifamily Hsg.), Series D 5.500 11/01/2019 11/01/2006 b 524,761
- --------------------------------------------------------------------------------------------------------------------
200,000 NYC HDC (Multifamily Hsg.), Series E 6.250 05/01/2036 11/01/2009 b 215,874
- --------------------------------------------------------------------------------------------------------------------
297,343 NYC HDC (Pass Through Certificate) i 6.500 09/20/2003 09/20/2003 300,278
- --------------------------------------------------------------------------------------------------------------------
27,600,000 NYC Health & Hospital Corp. 5.250 02/15/2017 s 02/15/2010 b 28,681,644
- --------------------------------------------------------------------------------------------------------------------
1,505,000 NYC IDA (Acme Architectural Products) 5.875 11/01/2009 01/25/2007 c 1,426,469
- --------------------------------------------------------------------------------------------------------------------
10,000,000 NYC IDA
(Airis JFK I/JFK International Airport) 6.000 07/01/2015 03/21/2011 g 10,157,900
- --------------------------------------------------------------------------------------------------------------------
465,000 NYC IDA (ALA Realty) 7.000 12/01/2005 12/16/2004 c 473,379
- --------------------------------------------------------------------------------------------------------------------
505,000 NYC IDA (Atlantic Veal & Lamb) 7.250 12/01/2008 08/18/2006 c 508,863
- --------------------------------------------------------------------------------------------------------------------
210,000 NYC IDA
(Brooklyn Heights Montessori School) 7.500 01/01/2007 08/14/2005 c 210,970
- --------------------------------------------------------------------------------------------------------------------
590,000 NYC IDA (Chardan Corp.) 6.250 11/01/2008 07/03/2006 c 584,454
- --------------------------------------------------------------------------------------------------------------------
235,000 NYC IDA (College of Aeronautics) 5.500 05/01/2012 05/01/2012 250,954
- --------------------------------------------------------------------------------------------------------------------
550,000 NYC IDA (College of Aeronautics) 5.500 05/01/2013 05/01/2010 b 584,848
- --------------------------------------------------------------------------------------------------------------------
920,000 NYC IDA (College of Mount St. Vincent) 7.000 05/01/2008 11/01/2003 b 955,420
- --------------------------------------------------------------------------------------------------------------------
360,000 NYC IDA (College of New Rochelle) 6.200 09/01/2010 s 09/01/2005 b 385,733
- --------------------------------------------------------------------------------------------------------------------
500,000 NYC IDA (College of New Rochelle) 6.300 09/01/2015 s 09/01/2005 b 525,945
- --------------------------------------------------------------------------------------------------------------------
525,000 NYC IDA
(Comprehensive Care Management) 5.750 11/01/2008 06/29/2006 b 523,073
- --------------------------------------------------------------------------------------------------------------------
205,000 NYC IDA
(Comprehensive Care Management) 5.750 11/01/2008 01/09/2006 b 204,239
- --------------------------------------------------------------------------------------------------------------------
405,000 NYC IDA
(Comprehensive Care Management) 7.250 12/01/2006 07/08/2005 c 422,703
- --------------------------------------------------------------------------------------------------------------------
319,212 NYC IDA (Cummins Engine) 6.500 03/01/2005 04/17/2004 c 317,980
- --------------------------------------------------------------------------------------------------------------------
665,000 NYC IDA (Essie Cosmetics) 5.500 11/01/2008 06/30/2006 c 651,660
18 LIMITED TERM NEW YORK MUNICIPAL FUND
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 930,000 NYC IDA (Friends Seminary School) 6.250% 09/15/2010 09/15/2003 b $ 958,467
- --------------------------------------------------------------------------------------------------------------------
915,000 NYC IDA (Gabrielli Truck Sales) 7.250 12/01/2007 01/19/2006 c 932,678
- --------------------------------------------------------------------------------------------------------------------
24,640,000 NYC IDA (Japan Airlines) 6.000 11/01/2015 11/01/2004 b 26,299,750
- --------------------------------------------------------------------------------------------------------------------
330,000 NYC IDA (Julia Gray) 6.500 11/01/2007 12/15/2005 c 327,782
- --------------------------------------------------------------------------------------------------------------------
345,000 NYC IDA (Koenig Iron Works) 7.375 12/01/2010 10/30/2007 c 348,095
- --------------------------------------------------------------------------------------------------------------------
6,000,000 NYC IDA (Legal Aid) 8.750 11/01/2033 s 11/01/2003 b 6,202,320
- --------------------------------------------------------------------------------------------------------------------
2,355,000 NYC IDA (Lycee Francais De New York) 5.500 06/01/2013 12/01/2012 b 2,639,908
- --------------------------------------------------------------------------------------------------------------------
730,000 NYC IDA (Lycee Francais De New York) 5.500 06/01/2015 12/01/2012 b 800,496
- --------------------------------------------------------------------------------------------------------------------
2,880,000 NYC IDA (Lycee Francais De New York) 5.500 06/01/2016 12/01/2012 b 3,127,824
- --------------------------------------------------------------------------------------------------------------------
2,000,000 NYC IDA (Lycee Francais De New York) 5.500 06/01/2017 12/01/2012 b 2,156,080
- --------------------------------------------------------------------------------------------------------------------
3,210,000 NYC IDA (Lycee Francais De New York) 5.500 06/01/2018 12/01/2012 b 3,437,557
- --------------------------------------------------------------------------------------------------------------------
100,000 NYC IDA (Marymount School of NY) 5.125 09/01/2021 08/02/2013 b 102,706
- --------------------------------------------------------------------------------------------------------------------
555,000 NYC IDA (MediSys Health Network) 5.750 03/15/2006 08/29/2005 c 545,232
- --------------------------------------------------------------------------------------------------------------------
555,000 NYC IDA (Morrisons Pastry) 5.750 11/01/2009 12/10/2005 c 519,502
- --------------------------------------------------------------------------------------------------------------------
4,300,000 NYC IDA (National Compressor Exchange) 6.250 11/01/2027 11/01/2007 a 4,243,627
- --------------------------------------------------------------------------------------------------------------------
3,525,000 NYC IDA (Polytechnic University) 6.000 11/01/2020 s 08/21/2017 c 3,238,312
- --------------------------------------------------------------------------------------------------------------------
525,000 NYC IDA (Precision Gear) 5.875 11/01/2009 01/18/2007 c 501,385
- --------------------------------------------------------------------------------------------------------------------
445,000 NYC IDA (Precision Gear) 5.875 11/01/2009 01/18/2007 c 424,984
- --------------------------------------------------------------------------------------------------------------------
155,000 NYC IDA (Precision Gear) 6.500 11/01/2008 07/18/2006 c 153,944
- --------------------------------------------------------------------------------------------------------------------
320,000 NYC IDA (Promotional Slideguide) 7.000 12/01/2005 12/17/2004 c 363,030
- --------------------------------------------------------------------------------------------------------------------
4,085,000 NYC IDA (Rosco, Inc.) 6.125 06/01/2022 06/01/2007 d 4,169,968
- --------------------------------------------------------------------------------------------------------------------
1,155,000 NYC IDA (Showman Fabricators) 7.125 11/01/2013 09/01/2009 c 1,157,934
- --------------------------------------------------------------------------------------------------------------------
1,365,000 NYC IDA
(Special Needs Facilities Pooled
Program) 5.950 07/01/2008 08/17/2005 c 1,307,861
- --------------------------------------------------------------------------------------------------------------------
105,000 NYC IDA (Streamline Plastics) 7.125 12/01/2005 01/04/2005 c 105,407
- --------------------------------------------------------------------------------------------------------------------
10,000 NYC IDA
(Terminal One Group Association) 5.700 01/01/2004 01/01/2004 10,123
- --------------------------------------------------------------------------------------------------------------------
25,000 NYC IDA
(Terminal One Group Association) 5.800 01/01/2005 01/01/2005 b 25,608
- --------------------------------------------------------------------------------------------------------------------
30,000 NYC IDA
(Terminal One Group Association) 5.900 01/01/2006 01/01/2006 30,836
- --------------------------------------------------------------------------------------------------------------------
1,100,000 NYC IDA
(Terminal One Group Association) 6.000 01/01/2007 01/01/2004 b 1,130,657
- --------------------------------------------------------------------------------------------------------------------
53,835,000 NYC IDA
(Terminal One Group Association) 6.000 01/01/2015 s 01/01/2004 b 54,921,929
- --------------------------------------------------------------------------------------------------------------------
13,130,000 NYC IDA
(Terminal One Group Association) 6.000 01/01/2019 s 01/01/2006 b 13,441,181
- --------------------------------------------------------------------------------------------------------------------
2,750,000 NYC IDA
(Terminal One Group Association) 6.100 01/01/2009 01/01/2006 b 2,822,160
- --------------------------------------------------------------------------------------------------------------------
17,195,000 NYC IDA
(Terminal One Group Association) 6.125 01/01/2024 01/01/2006 b 17,602,521
- --------------------------------------------------------------------------------------------------------------------
2,230,000 NYC IDA (The Child School) 7.000 06/01/2013 06/01/2010 c 2,315,966
- --------------------------------------------------------------------------------------------------------------------
770,000 NYC IDA (Ulano) 6.250 11/01/2006 05/30/2005 c 755,786
- --------------------------------------------------------------------------------------------------------------------
160,000 NYC IDA (United Nations School) 6.050 12/01/2005 12/01/2005 173,782
- --------------------------------------------------------------------------------------------------------------------
170,000 NYC IDA (United Nations School) 6.100 12/01/2006 12/01/2006 190,040
- --------------------------------------------------------------------------------------------------------------------
180,000 NYC IDA (United Nations School) 6.150 12/01/2007 12/01/2007 198,839
- --------------------------------------------------------------------------------------------------------------------
1,000,000 NYC IDA (Urban Resource Institute) 5.250 03/01/2023 03/01/2013 b 1,075,680
19 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 1,515,000 NYC IDA (Urban Resource Institute) 6.500% 11/01/2013 10/01/2010 c $ 1,519,681
- --------------------------------------------------------------------------------------------------------------------
2,000,000 NYC IDA (USTA National Tennis Center) 6.375 11/15/2014 s 11/15/2004 b 2,165,140
- --------------------------------------------------------------------------------------------------------------------
900,000 NYC IDA (Visy Paper) 7.550 01/01/2005 07/09/2004 c 897,129
- --------------------------------------------------------------------------------------------------------------------
4,000,000 NYC IDA (Visy Paper) 7.800 01/01/2016 01/01/2008 b 4,034,560
- --------------------------------------------------------------------------------------------------------------------
1,125,000 NYC IDA (Vocational Instruction) 7.250 02/01/2013 08/15/2011 c 1,144,856
- --------------------------------------------------------------------------------------------------------------------
400,000 NYC IDA (World Casing Corp.) 5.950 11/01/2007 12/16/2005 c 378,796
- --------------------------------------------------------------------------------------------------------------------
5,210,000 NYC IDA (YMCA of Greater NY) 5.800 08/01/2016 s 01/01/2009 b 5,547,712
- --------------------------------------------------------------------------------------------------------------------
900,000 NYC IDA (Zeluck, Inc.) 6.250 11/01/2011 11/01/2007 c 936,252
- --------------------------------------------------------------------------------------------------------------------
16,350,000 NYC IDA Special Facilities
(JFK International Airport) 8.000 08/01/2012 08/01/2012 9,158,943
- --------------------------------------------------------------------------------------------------------------------
20,000 NYC LGAC, Series C 5.000 04/01/2021 04/01/2005 b 20,552
- --------------------------------------------------------------------------------------------------------------------
10,000 NYC Municipal Water Finance Authority 5.125 06/15/2021 06/15/2021 b 10,542
- --------------------------------------------------------------------------------------------------------------------
65,000 NYC Municipal Water Finance Authority 5.125 06/15/2017 s 06/15/2007 b 70,336
- --------------------------------------------------------------------------------------------------------------------
50,000 NYC Municipal Water Finance Authority 5.125 06/15/2021 06/15/2007 b 52,709
- --------------------------------------------------------------------------------------------------------------------
30,000 NYC Municipal Water Finance Authority 5.125 06/15/2022 06/15/2008 b 31,128
- --------------------------------------------------------------------------------------------------------------------
10,000 NYC Municipal Water Finance Authority 5.200 06/15/2013 06/15/2007 b 11,076
- --------------------------------------------------------------------------------------------------------------------
15,000 NYC Municipal Water Finance Authority 5.250 06/15/2018 06/15/2008 b 16,155
- --------------------------------------------------------------------------------------------------------------------
5,500,000 NYC Municipal Water Finance Authority 5.350 06/15/2012 06/15/2004 b 5,741,120
- --------------------------------------------------------------------------------------------------------------------
130,000 NYC Municipal Water Finance Authority 5.375 06/15/2019 06/15/2004 b 135,476
- --------------------------------------------------------------------------------------------------------------------
340,000 NYC Municipal Water Finance Authority 5.375 06/15/2019 06/15/2004 b 354,321
- --------------------------------------------------------------------------------------------------------------------
40,000 NYC Municipal Water Finance Authority 5.500 06/15/2019 s 06/15/2005 b 41,732
- --------------------------------------------------------------------------------------------------------------------
875,000 NYC Municipal Water Finance Authority 5.500 06/15/2019 s 06/15/2005 b 913,745
- --------------------------------------------------------------------------------------------------------------------
300,000 NYC Municipal Water Finance Authority 5.500 06/15/2019 06/15/2004 b 313,284
- --------------------------------------------------------------------------------------------------------------------
5,130,000 NYC Municipal Water Finance Authority 5.500 06/15/2023 s 06/15/2005 b 5,462,373
- --------------------------------------------------------------------------------------------------------------------
150,000 NYC Municipal Water Finance Authority 5.500 06/15/2023 06/15/2005 b 159,718
- --------------------------------------------------------------------------------------------------------------------
405,000 NYC Municipal Water Finance Authority 5.500 06/15/2023 s 06/15/2004 b 424,525
- --------------------------------------------------------------------------------------------------------------------
2,050,000 NYC Municipal Water Finance Authority 5.500 06/15/2023 s 06/15/2005 b 2,178,740
- --------------------------------------------------------------------------------------------------------------------
1,840,000 NYC Municipal Water Finance Authority 5.500 06/15/2024 s 06/15/2007 b 1,981,882
- --------------------------------------------------------------------------------------------------------------------
85,000 NYC Municipal Water Finance Authority 5.500 06/15/2027 06/15/2007 b 92,572
- --------------------------------------------------------------------------------------------------------------------
115,000 NYC Municipal Water Finance Authority 5.625 06/15/2019 06/15/2006 b 126,514
- --------------------------------------------------------------------------------------------------------------------
85,000 NYC Municipal Water Finance Authority 5.625 06/15/2019 s 06/15/2006 b 93,767
- --------------------------------------------------------------------------------------------------------------------
855,000 NYC Municipal Water Finance Authority 5.750 06/15/2013 s 12/15/2003 a 859,745
- --------------------------------------------------------------------------------------------------------------------
50,000 NYC Municipal Water Finance Authority 5.750 06/15/2013 s 12/15/2003 a 50,277
- --------------------------------------------------------------------------------------------------------------------
100,000 NYC Municipal Water Finance Authority 5.750 06/15/2020 06/15/2004 a 105,712
- --------------------------------------------------------------------------------------------------------------------
2,000,000 NYC Municipal Water Finance
Authority IRS 9.220 r 06/15/2009 06/15/2004 b 2,188,840
- --------------------------------------------------------------------------------------------------------------------
12,500,000 NYC Municipal Water Finance
Authority IRS i 9.420 r 06/15/2013 06/15/2004 b 13,437,375
- --------------------------------------------------------------------------------------------------------------------
25,000 NYC Public Hsg. Authority 6.000 01/01/2004 01/01/2004 25,632
- --------------------------------------------------------------------------------------------------------------------
1,000,000 NYC TFA, Series C 5.250 05/01/2013 05/01/2008 b 1,117,880
- --------------------------------------------------------------------------------------------------------------------
4,520,000 NYC TFA, Series C 5.500 11/01/2029 05/01/2010 a 5,350,414
- --------------------------------------------------------------------------------------------------------------------
290,000 NYC Transit Authority MTA, Series A 5.400 01/01/2019 s 1/01/2010 b 318,150
- --------------------------------------------------------------------------------------------------------------------
3,500,000 NYC Trust for Cultural Resources
(American Museum of Natural History) 5.650 04/01/2027 s 04/01/2007 b 3,879,330
- --------------------------------------------------------------------------------------------------------------------
750,000 NYC Trust for Cultural Resources
(Museum of American Folk Art) 6.000 07/01/2022 s 07/01/2010 b 837,990
20 LIMITED TERM NEW YORK MUNICIPAL FUND
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 2,370,000 NYC Trust for Cultural Resources
(Museum of American Folk Art) 6.125% 07/01/2030 s 07/01/2011 b $ 2,669,402
- --------------------------------------------------------------------------------------------------------------------
10,000 NYC UDC (Correctional Facilities) 5.500 01/01/2016 01/01/2004 b 10,380
- --------------------------------------------------------------------------------------------------------------------
45,000 NYS DA (Albany Memorial Hospital) 5.500 07/01/2010 s 07/01/2005 b 47,905
- --------------------------------------------------------------------------------------------------------------------
250,000 NYS DA (Augustana Lutheran Home) 5.500 02/01/2041 s 02/01/2013 b 268,375
- --------------------------------------------------------------------------------------------------------------------
95,000 NYS DA (Bethel Springvale Home) 6.000 02/01/2035 s 02/01/2006 b 105,018
- --------------------------------------------------------------------------------------------------------------------
30,000 NYS DA
(Bishop Henry B. Hucles Nursing Home) 5.625 07/01/2018 s 07/01/2008 b 31,367
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS DA
(Bishop Henry B. Hucles Nursing Home) 6.000 07/01/2024 07/01/2006 b 53,272
- --------------------------------------------------------------------------------------------------------------------
100,000 NYS DA (Brooklyn Law School) 6.375 07/01/2005 01/01/2004 b 100,428
- --------------------------------------------------------------------------------------------------------------------
265,000 NYS DA (Brooklyn Law School) 6.375 07/01/2007 s 01/01/2004 b 276,686
- --------------------------------------------------------------------------------------------------------------------
565,000 NYS DA (Brooklyn Law School) 6.400 07/01/2011 s 01/01/2004 b 567,226
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS DA (Canisius College) 5.600 07/01/2023 07/01/2005 b 54,410
- --------------------------------------------------------------------------------------------------------------------
15,000,000 NYS DA (Catholic Health Services) 6.500 07/01/2020 s 07/01/2010 b 16,651,500
- --------------------------------------------------------------------------------------------------------------------
1,100,000 NYS DA (Chapel Oaks) 5.375 07/01/2017 s 07/01/2010 b 1,165,736
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS DA (City University) 0.000 z 07/01/2004 07/01/2004 4,731
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS DA (City University) 0.000 z 07/01/2004 07/01/2004 23,513
- --------------------------------------------------------------------------------------------------------------------
15,000 NYS DA (City University) 0.000 z 07/01/2005 07/01/2005 13,727
- --------------------------------------------------------------------------------------------------------------------
2,000,000 NYS DA (City University) 5.000 07/01/2012 01/01/2008 b 2,158,620
- --------------------------------------------------------------------------------------------------------------------
2,150,000 NYS DA (City University) 5.000 07/01/2017 07/01/2008 b 2,242,858
- --------------------------------------------------------------------------------------------------------------------
335,000 NYS DA (City University) 5.375 07/01/2014 07/01/2005 b 369,103
- --------------------------------------------------------------------------------------------------------------------
11,020,000 NYS DA (City University) 5.375 07/01/2024 01/01/2008 a 12,776,478
- --------------------------------------------------------------------------------------------------------------------
5,175,000 NYS DA (City University) 5.375 07/01/2025 s 07/01/2007 b 5,701,815
- --------------------------------------------------------------------------------------------------------------------
15,000 NYS DA (City University) 5.500 07/01/2019 07/01/2009 b 16,657
- --------------------------------------------------------------------------------------------------------------------
45,000 NYS DA (City University) 5.500 07/01/2024 07/01/2006 b 49,097
- --------------------------------------------------------------------------------------------------------------------
1,900,000 NYS DA (City University) 6.000 07/01/2010 07/01/2006 b 2,088,290
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS DA (College of Saint Rose) 6.000 07/01/2011 s 01/01/2004 b 5,068
- --------------------------------------------------------------------------------------------------------------------
570,000 NYS DA (Court Facilities) 5.250 05/15/2021 05/15/2005 b 580,157
- --------------------------------------------------------------------------------------------------------------------
11,095,000 NYS DA (Court Facilities) 5.375 05/15/2016 s 11/15/2003 b 11,293,600
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS DA (Court Facilities) 5.500 05/15/2010 11/15/2003 b 5,090
- --------------------------------------------------------------------------------------------------------------------
465,000 NYS DA (Court Facilities) 5.500 05/15/2023 11/15/2003 b 473,365
- --------------------------------------------------------------------------------------------------------------------
5,520,000 NYS DA (Court Facilities) 5.625 05/15/2013 s 11/15/2003 b 5,619,746
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS DA (Court Facilities) 5.700 05/15/2022 11/15/2003 b 5,091
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS DA (Dept. of Education) 5.750 07/01/2021 07/01/2006 b 27,913
- --------------------------------------------------------------------------------------------------------------------
20,000 NYS DA (Dept. of Education) 6.125 07/01/2019 s 07/01/2006 b 21,241
- --------------------------------------------------------------------------------------------------------------------
30,000 NYS DA (Dept. of Health) 5.500 07/01/2014 07/01/2006 b 31,577
- --------------------------------------------------------------------------------------------------------------------
55,000 NYS DA (Dept. of Health) 5.750 07/01/2017 07/01/2006 b 60,983
- --------------------------------------------------------------------------------------------------------------------
500,000 NYS DA (Dept. of Health) 5.750 07/01/2017 s 07/01/2006 b 557,480
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS DA (Dept. of Health) 5.900 07/01/2009 07/01/2004 b 52,487
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS DA (Dept. of Health) 7.400 07/01/2004 01/01/2004 b 25,250
- --------------------------------------------------------------------------------------------------------------------
545,000 NYS DA (Elizabeth Church
Manor Nursing Home Corp.) 5.400 08/01/2023 08/01/2003 b 557,470
- --------------------------------------------------------------------------------------------------------------------
30,000 NYS DA (Ellis Hospital) 5.600 08/01/2025 08/01/2005 b 31,698
- --------------------------------------------------------------------------------------------------------------------
75,000 NYS DA (Ellis Hospital) 5.625 08/01/2035 s 08/01/2007 b 81,633
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS DA (Episcopal Health) 5.700 08/01/2009 08/01/2003 b 5,118
21 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 50,000 NYS DA (Episcopal Health) 5.900% 08/01/2020 s 08/01/2003 b $ 51,077
- --------------------------------------------------------------------------------------------------------------------
250,000 NYS DA
(Ferncliff Nursing Home Company) 5.750 07/01/2017 07/01/2005 b 271,642
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS DA (Fordham University) 5.750 07/01/2015 s 08/01/2003 b 26,459
- --------------------------------------------------------------------------------------------------------------------
3,835,000 NYS DA (Frances Schervier Home
& Hospital Obligated Group 5.500 07/01/2017 s 07/01/2009 b 4,215,777
- --------------------------------------------------------------------------------------------------------------------
90,000 NYS DA (Frances Schervier Home
& Hospital Obligated Group) 5.500 07/01/2027 s 07/01/2009 b 95,260
- --------------------------------------------------------------------------------------------------------------------
10,000,000 NYS DA (Frances Schervier Home
& Hospital Obligated Group) 5.500 07/01/2027 s 07/01/2009 b 10,577,200
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS DA (German Masonic Home) 5.950 08/01/2026 s 08/01/2008 b 53,489
- --------------------------------------------------------------------------------------------------------------------
15,000 NYS DA (Hamilton College) 5.125 07/01/2016 07/01/2009 b 16,360
- --------------------------------------------------------------------------------------------------------------------
2,180,000 NYS DA
(Highland Community Devel. Corp.) 5.500 07/01/2023 07/16/2008 d 2,215,970
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS DA (Hospital Special Surgery) 5.000 02/01/2018 02/01/2008 b 26,187
- --------------------------------------------------------------------------------------------------------------------
75,000 NYS DA (Jewish Geriatric) 7.150 08/01/2014 08/01/2004 b 80,702
- --------------------------------------------------------------------------------------------------------------------
150,000 NYS DA (Jewish Geriatric) 7.350 08/01/2029 08/01/2004 b 161,554
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS DA (JGB Health Facilities) 7.000 07/01/2009 s 01/01/2004 b 25,615
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS DA
(John T. Mather Memorial Hospital) 5.375 07/01/2019 07/01/2008 b 10,473
- --------------------------------------------------------------------------------------------------------------------
3,740,000 NYS DA (KMH Homes) 6.950 08/01/2031 08/01/2003 b 3,873,518
- --------------------------------------------------------------------------------------------------------------------
1,020,000 NYS DA (L.I. University) 5.125 09/01/2010 09/01/2010 1,161,413
- --------------------------------------------------------------------------------------------------------------------
1,000,000 NYS DA (L.I. University) 5.250 09/01/2011 09/01/2009 b 1,135,480
- --------------------------------------------------------------------------------------------------------------------
100,000 NYS DA (Lakeside Home) 6.000 02/01/2037 02/01/2007 b 113,150
- --------------------------------------------------------------------------------------------------------------------
455,000 NYS DA (Le Moyne College) 5.000 07/01/2018 07/01/2004 b 467,690
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS DA (Lenox Hill Hospital) 5.750 07/01/2016 07/01/2011 b 10,930
- --------------------------------------------------------------------------------------------------------------------
2,000,000 NYS DA (Lenox Hill Hospital) 5.750 07/01/2017 07/01/2012 b 2,179,060
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS DA (Long Beach Medical Center) 5.625 08/01/2022 08/01/2005 b 53,007
- --------------------------------------------------------------------------------------------------------------------
4,160,000 NYS DA (Lutheran Medical Center) 4.250 08/01/2023 11/24/2007 c 4,111,120
- --------------------------------------------------------------------------------------------------------------------
1,065,000 NYS DA (Manhattan College) 5.000 07/01/2008 07/01/2008 1,195,601
- --------------------------------------------------------------------------------------------------------------------
30,000 NYS DA (Mental Health Services
Facilities) 5.125 08/15/2027 08/15/2008 b 31,090
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS DA (Mental Health Services
Facilities) 5.250 08/15/2016 02/15/2008 b 10,861
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS DA (Mental Health Services
Facilities) 5.375 02/15/2026 02/15/2006 b 51,589
- --------------------------------------------------------------------------------------------------------------------
100,000 NYS DA (Mental Health Services
Facilities) 5.750 02/15/2027 02/15/2007 b 111,417
- --------------------------------------------------------------------------------------------------------------------
10,000,000 NYS DA (Mental Health Services
Facilities) 5.250 08/15/2024 08/15/2009 b 10,532,500
- --------------------------------------------------------------------------------------------------------------------
100,000 NYS DA (Mental Health Services
Facilities) 5.250 02/15/2018 02/15/2007 b 105,890
- --------------------------------------------------------------------------------------------------------------------
20,000 NYS DA (Millard Fillmore Hospital) 5.375 02/01/2017 08/01/2004 b 21,270
- --------------------------------------------------------------------------------------------------------------------
5,060,000 NYS DA (Miriam Osborn
Memorial Home Association) 6.875 07/01/2019 s 07/01/2010 b 5,794,813
- --------------------------------------------------------------------------------------------------------------------
235,000 NYS DA (Mount Sinai School of Medicine) 5.000 07/01/2021 07/01/2004 b 242,379
- --------------------------------------------------------------------------------------------------------------------
4,750,000 NYS DA (Mount Sinai School of Medicine) 6.750 07/01/2009 s 01/01/2004 b 4,771,802
- --------------------------------------------------------------------------------------------------------------------
2,030,000 NYS DA (Mount Sinai School of Medicine) 6.750 07/01/2015 s 01/01/2004 b 2,038,404
- --------------------------------------------------------------------------------------------------------------------
3,000,000 NYS DA (MSH/NYU Hospital Center/
HJDOI Obligated Group) 6.000 07/01/2014 07/01/2014 2,975,010
- --------------------------------------------------------------------------------------------------------------------
15,540,000 NYS DA (MSH/NYU Hospital Center/
HJDOI Obligated Group) 6.500 07/01/2015 07/01/2010 b 16,188,329
22 LIMITED TERM NEW YORK MUNICIPAL FUND
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$11,830,000 NYS DA (MSH/NYU Hospital Center/
HJDOI Obligated Group) 6.500% 07/01/2016 07/01/2010 b $12,254,697
- --------------------------------------------------------------------------------------------------------------------
12,000,000 NYS DA (MSH/NYU Hospital Center/
HJDOI Obligated Group) 6.500 07/01/2017 07/01/2010 b 12,388,440
- --------------------------------------------------------------------------------------------------------------------
5,000,000 NYS DA (MSH/NYU Hospital Center/
HJDOI Obligated Group) 6.625 07/01/2018 07/01/2011 b 5,193,100
- --------------------------------------------------------------------------------------------------------------------
5,000,000 NYS DA (MSH/NYU Hospital Center/
HJDOI Obligated Group) 6.625 07/01/2019 07/01/2010 b 5,167,450
- --------------------------------------------------------------------------------------------------------------------
1,750,000 NYS DA (MSH/NYU Hospital Center/
HJDOI Obligated Group) 6.750 07/01/2020 07/01/2010 b 1,806,105
- --------------------------------------------------------------------------------------------------------------------
22,100,000 NYS DA (MSH/NYU Hospital Center/
HJDOI Obligated Group) PARS i 10.000 r 07/01/2026 07/17/2003 22,100,000
- --------------------------------------------------------------------------------------------------------------------
12,000,000 NYS DA (Mt. Sinai/NYU Health) 6.000 07/01/2026 11/17/2020 c 11,940,720
- --------------------------------------------------------------------------------------------------------------------
6,500,000 NYS DA (Mt. Sinai/NYU Health) 6.250 07/01/2022 02/01/2005 b 6,535,490
- --------------------------------------------------------------------------------------------------------------------
60,000 NYS DA (Municipal Health Facilities) 5.500 05/15/2024 05/15/2006 b 64,941
- --------------------------------------------------------------------------------------------------------------------
90,000 NYS DA (New Hope Community) 5.700 07/01/2017 s 07/01/2005 b 91,932
- --------------------------------------------------------------------------------------------------------------------
15,000 NYS DA (Niagara Lutheran Devel.) 5.450 08/01/2017 08/01/2007 b 16,161
- --------------------------------------------------------------------------------------------------------------------
4,200,000 NYS DA (North General Hospital) 5.750 02/15/2019 02/15/2013 b 4,680,900
- --------------------------------------------------------------------------------------------------------------------
3,750,000 NYS DA (North General Hospital) 5.750 02/15/2020 02/15/2013 b 4,154,400
- --------------------------------------------------------------------------------------------------------------------
2,395,000 NYS DA
(Nottingham Retirement Community) 6.125 07/01/2025 s 07/01/2005 b 2,531,371
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS DA (Nursing Homes) 5.500 07/01/2010 s 07/01/2007 b 54,650
- --------------------------------------------------------------------------------------------------------------------
1,375,000 NYS DA (NY Hospital Medical Center) 5.550 08/15/2029 s 08/15/2011 b 1,579,682
- --------------------------------------------------------------------------------------------------------------------
1,700,000 NYS DA (Nyack Hospital) 6.000 07/01/2006 07/14/2005 c 1,611,243
- --------------------------------------------------------------------------------------------------------------------
2,325,000 NYS DA (Nyack Hospital) 6.250 07/01/2013 05/10/2009 c 2,049,929
- --------------------------------------------------------------------------------------------------------------------
120,000 NYS DA (Our Lady of Mercy Hospital) 6.300 08/01/2032 s 08/01/2003 b 122,816
- --------------------------------------------------------------------------------------------------------------------
2,000,000 NYS DA (Park Ridge Hsg.) 6.375 08/01/2020 s 08/01/2010 b 2,221,240
- --------------------------------------------------------------------------------------------------------------------
1,570,000 NYS DA (Park Ridge Hsg.) 6.500 08/01/2025 s 08/01/2010 b 1,783,912
- --------------------------------------------------------------------------------------------------------------------
2,000,000 NYS DA (Personal Income Tax) 5.375 03/15/2022 03/15/2013 b 2,181,480
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS DA (Resurrection Rest
Home Castleton on Hudson, NY) 6.050 08/01/2035 s 08/01/2005 b 54,712
- --------------------------------------------------------------------------------------------------------------------
40,000 NYS DA (Rochester General Hospital) 5.700 08/01/2033 08/01/2003 b 40,927
- --------------------------------------------------------------------------------------------------------------------
5,100,000 NYS DA (Ryan-Clinton
Community Health Center) 6.100 07/01/2019 s 01/01/2010 b 5,799,108
- --------------------------------------------------------------------------------------------------------------------
5,000,000 NYS DA (School District Financing) 5.750 10/01/2022 s 10/01/2012 b 5,645,650
- --------------------------------------------------------------------------------------------------------------------
290,000 NYS DA (Service Contract) 5.250 04/01/2017 04/01/2008 b 308,386
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS DA (Skidmore College) 5.250 07/01/2013 07/01/2004 b 10,228
- --------------------------------------------------------------------------------------------------------------------
35,000 NYS DA (St Agnes Hospital) 5.300 02/15/2019 02/15/2008 b 37,690
- --------------------------------------------------------------------------------------------------------------------
20,000 NYS DA (St John's University) 5.250 07/01/2018 07/01/2008 b 21,775
- --------------------------------------------------------------------------------------------------------------------
75,000 NYS DA (St John's University) 5.250 07/01/2025 07/01/2008 b 79,293
- --------------------------------------------------------------------------------------------------------------------
5,000,000 NYS DA
(St. Joseph's Hospital Health Center) 5.250 07/01/2018 s 07/01/2009 b 5,313,450
- --------------------------------------------------------------------------------------------------------------------
1,975,000 NYS DA (St. Vincent Depaul Residence) 5.300 07/01/2018 s 07/01/2010 b 2,072,032
- --------------------------------------------------------------------------------------------------------------------
95,000 NYS DA
(St. Vincent's Hospital & Medical
Center) 5.750 08/01/2015 s 08/01/2007 b 102,775
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS DA
(St. Vincent's Hospital & Medical
Center) 5.800 08/01/2025 08/01/2005 b 27,002
23 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 15,000 NYS DA
(St. Vincent's Hospital & Medical
Center) 7.375% 08/01/2011 08/01/2003 b $ 15,072
- --------------------------------------------------------------------------------------------------------------------
40,000 NYS DA
(St. Vincent's Hospital & Medical
Center) 7.400 08/01/2030 s 08/01/2003 b 41,372
- --------------------------------------------------------------------------------------------------------------------
30,000 NYS DA
(State University Athletic Facilities) 5.250 07/01/2018 07/01/2008 b 32,662
- --------------------------------------------------------------------------------------------------------------------
3,590,000 NYS DA
(State University Dormitory Facilities) 5.375 07/01/2022 07/01/2012 b 3,888,114
- --------------------------------------------------------------------------------------------------------------------
1,000,000 NYS DA
(State University Dormitory Facilities) 5.500 07/01/2020 07/01/2011 b 1,101,430
- --------------------------------------------------------------------------------------------------------------------
35,000 NYS DA
(State University Dormitory Facilities) 5.500 07/01/2027 07/01/2010 b 38,127
- --------------------------------------------------------------------------------------------------------------------
7,820,000 NYS DA
(State University Dormitory Facilities) 5.750 07/01/2023 07/01/2011 b 8,678,714
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS DA
(State University Educational
Facilities) 5.400 05/15/2023 s 05/15/2004 b 10,589
- --------------------------------------------------------------------------------------------------------------------
1,150,000 NYS DA
(State University Educational
Facilities) 5.750 05/15/2010 05/15/2006 a 1,311,150
- --------------------------------------------------------------------------------------------------------------------
3,750,000 NYS DA
(State University Educational
Facilities) 6.000 05/15/2016 05/15/2010 b 4,406,888
- --------------------------------------------------------------------------------------------------------------------
2,280,000 NYS DA
(State University Educational
Facilities) 6.000 05/15/2017 11/15/2003 b 2,329,476
- --------------------------------------------------------------------------------------------------------------------
345,000 NYS DA
(State University Educational
Facilities) 6.000 05/15/2017 11/15/2003 b 354,074
- --------------------------------------------------------------------------------------------------------------------
3,225,000 NYS DA
(State University Educational
Facilities) 5.125 05/15/2021 05/15/2009 b 3,367,964
- --------------------------------------------------------------------------------------------------------------------
9,700,000 NYS DA
(State University Educational
Facilities) 5.375 05/15/2011 05/15/2008 b 10,688,236
- --------------------------------------------------------------------------------------------------------------------
170,000 NYS DA (Strong Memorial Hospital) 5.500 07/01/2021 07/01/2004 b 179,149
- --------------------------------------------------------------------------------------------------------------------
155,000 NYS DA (Suffolk County Judicial
Facilities) 9.250 04/15/2006 s 10/15/2003 b 167,107
- --------------------------------------------------------------------------------------------------------------------
30,000 NYS DA (Suffolk County Judicial
Facilities) 9.500 04/15/2014 s 10/15/2003 b 34,420
- --------------------------------------------------------------------------------------------------------------------
3,500,000 NYS DA (Teresian House) 5.250 07/01/2017 s 07/01/2009 b 3,660,160
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS DA (United Cerebral Palsy
Association of Nassau County) 6.000 07/01/2007 01/01/2004 b 50,698
- --------------------------------------------------------------------------------------------------------------------
1,250,000 NYS DA (United Cerebral Palsy of NYC) 5.750 07/01/2018 s 07/01/2012 b 1,444,838
- --------------------------------------------------------------------------------------------------------------------
1,000,000 NYS DA (University of Rochester) 5.625 07/01/2012 01/01/2004 b 1,023,240
- --------------------------------------------------------------------------------------------------------------------
130,000 NYS DA (University of Rochester) 6.500 07/01/2009 s 01/01/2004 b 130,559
- --------------------------------------------------------------------------------------------------------------------
15,000 NYS DA (University of Rochester) 6.500 07/01/2009 s 01/01/2004 b 15,066
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS DA (Upstate Community Colleges) 5.250 07/01/2023 07/01/2006 b 10,227
- --------------------------------------------------------------------------------------------------------------------
60,000 NYS DA (Upstate Community Colleges) 5.500 07/01/2014 s 07/01/2005 b 61,367
- --------------------------------------------------------------------------------------------------------------------
530,000 NYS DA (Upstate Community Colleges) 5.625 07/01/2012 s 07/01/2004 b 544,946
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS DA (Upstate Community Colleges) 5.625 07/01/2014 s 07/01/2004 b 10,559
- --------------------------------------------------------------------------------------------------------------------
55,000 NYS DA (Upstate Community Colleges) 5.700 07/01/2021 07/01/2004 b 56,922
- --------------------------------------------------------------------------------------------------------------------
6,570,000 NYS DA (Upstate Community Colleges) 5.750 07/01/2022 s 01/01/2004 b 6,833,457
- --------------------------------------------------------------------------------------------------------------------
35,000 NYS DA (Upstate Community Colleges) 5.875 07/01/2016 s 07/01/2009 b 39,646
- --------------------------------------------------------------------------------------------------------------------
20,000 NYS DA (WHELC) 5.800 02/01/2028 08/01/2005 b 20,425
- --------------------------------------------------------------------------------------------------------------------
2,230,000 NYS DA Service Contract (CCFDP) 5.375 04/01/2020 04/01/2012 b 2,409,091
- --------------------------------------------------------------------------------------------------------------------
2,350,000 NYS DA Service Contract (CCFDP) 5.375 04/01/2021 04/01/2012 b 2,526,274
- --------------------------------------------------------------------------------------------------------------------
100,000 NYS DA, Series B 5.625 02/15/2021 02/15/2007 b 110,416
24 LIMITED TERM NEW YORK MUNICIPAL FUND
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 185,000 NYS EFC (Consolidated Water Company) 7.150% 11/01/2014 s 11/01/2004 b $ 187,825
- --------------------------------------------------------------------------------------------------------------------
300,000 NYS EFC (NYS Water Service) 6.900 05/15/2015 11/15/2004 a 330,114
- --------------------------------------------------------------------------------------------------------------------
165,000 NYS EFC (NYS Water Service) 6.900 05/15/2015 11/15/2004 a 179,558
- --------------------------------------------------------------------------------------------------------------------
345,000 NYS EFC (NYS Water Service) 6.900 11/15/2015 s 11/15/2004 b 379,631
- --------------------------------------------------------------------------------------------------------------------
30,000 NYS EFC (NYS Water Service) 6.900 11/15/2015 s 11/15/2004 b 32,647
- --------------------------------------------------------------------------------------------------------------------
135,000 NYS EFC (NYS Water Services) 6.500 03/15/2007 09/15/2003 b 139,914
- --------------------------------------------------------------------------------------------------------------------
85,000 NYS EFC (NYS Water Services) 6.600 06/15/2005 12/15/2003 b 85,380
- --------------------------------------------------------------------------------------------------------------------
285,000 NYS EFC (NYS Water Services) 6.700 09/15/2004 09/15/2003 b 286,305
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS EFC (NYS Water Services) 6.850 09/15/2003 09/15/2003 a 10,047
- --------------------------------------------------------------------------------------------------------------------
2,370,000 NYS EFC (NYS Water Services) 6.875 06/15/2010 s 12/15/2003 b 2,503,668
- --------------------------------------------------------------------------------------------------------------------
1,705,000 NYS EFC (NYS Water Services) 6.875 06/15/2014 s 11/15/2004 b 1,813,404
- --------------------------------------------------------------------------------------------------------------------
20,000 NYS EFC (NYS Water Services) 7.050 06/15/2004 12/15/2003 b 20,098
- --------------------------------------------------------------------------------------------------------------------
15,000 NYS EFC (NYS Water Services) 7.200 03/15/2011 s 09/15/2003 b 15,069
- --------------------------------------------------------------------------------------------------------------------
640,000 NYS EFC (NYS Water Services) 7.250 06/15/2010 s 12/15/2003 b 643,232
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS EFC (NYS Water Services) 7.500 03/15/2011 s 09/15/2003 b 25,121
- --------------------------------------------------------------------------------------------------------------------
1,450,000 NYS EFC (NYS Water Services) 7.500 06/15/2012 s 12/15/2003 b 1,495,240
- --------------------------------------------------------------------------------------------------------------------
45,000 NYS EFC (NYS Water Services) 7.500 06/15/2012 s 12/15/2003 b 46,760
- --------------------------------------------------------------------------------------------------------------------
500,000 NYS EFC (Occidental Petroleum) 6.100 11/01/2030 11/01/2007 b 510,425
- --------------------------------------------------------------------------------------------------------------------
1,425,000 NYS EFC (Personal Income Tax) 5.250 01/01/2022 01/01/2013 b 1,540,667
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS EFC (Spring Valley Water Company) 5.650 11/01/2023 11/01/2005 b 10,243
- --------------------------------------------------------------------------------------------------------------------
1,000,000 NYS EFC (State Park Infrastructure) 5.750 03/15/2008 s 09/15/2003 b 1,019,280
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS EFC (State Park Infrastructure) 5.750 03/15/2013 s 03/15/2004 b 50,916
- --------------------------------------------------------------------------------------------------------------------
1,865,000 NYS ERDA (Brooklyn Union Gas) 5.500 01/01/2021 01/01/2008 b 2,016,811
- --------------------------------------------------------------------------------------------------------------------
4,635,000 NYS ERDA (Brooklyn Union Gas) 5.600 06/01/2025 07/14/2003 b 4,731,918
- --------------------------------------------------------------------------------------------------------------------
20,830,000 NYS ERDA (Brooklyn Union Gas) 6.750 02/01/2024 08/01/2003 b 21,673,615
- --------------------------------------------------------------------------------------------------------------------
12,305,000 NYS ERDA (Brooklyn Union Gas) 6.750 02/01/2024 11/15/2003 b 12,534,611
- --------------------------------------------------------------------------------------------------------------------
77,000,000 NYS ERDA (Con Ed) 4.700 06/01/2036 10/03/2005 b 78,248,170
- --------------------------------------------------------------------------------------------------------------------
255,000 NYS ERDA (Con Ed) 5.250 08/15/2020 10/01/2003 b 262,206
- --------------------------------------------------------------------------------------------------------------------
30,000 NYS ERDA (Con Ed) 5.250 08/15/2020 10/01/2003 b 30,848
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS ERDA (Con Ed) 5.375 09/15/2022 10/01/2005 b 5,041
- --------------------------------------------------------------------------------------------------------------------
80,000 NYS ERDA (Con Ed) 6.000 03/15/2028 03/15/2005 b 81,679
- --------------------------------------------------------------------------------------------------------------------
440,000 NYS ERDA (Con Ed) 6.000 03/15/2028 09/15/2003 b 449,442
- --------------------------------------------------------------------------------------------------------------------
305,000 NYS ERDA (Con Ed) 6.000 03/15/2028 03/15/2005 b 317,231
- --------------------------------------------------------------------------------------------------------------------
4,000,000 NYS ERDA (Con Ed) 6.100 08/15/2020 07/01/2005 b 4,320,360
- --------------------------------------------------------------------------------------------------------------------
34,920,000 NYS ERDA (Con Ed) 7.125 12/01/2029 12/01/2004 b 37,759,694
- --------------------------------------------------------------------------------------------------------------------
70,000 NYS ERDA (Corning Natural Gas) 8.250 12/01/2018 12/01/2003 b 72,286
- --------------------------------------------------------------------------------------------------------------------
100,000 NYS ERDA (LILCO) 5.150 03/01/2016 03/01/2004 b 104,086
- --------------------------------------------------------------------------------------------------------------------
135,000 NYS ERDA (LILCO) 5.150 03/01/2016 03/01/2004 b 140,516
- --------------------------------------------------------------------------------------------------------------------
30,000,000 NYS ERDA (NIMO) 6.625 10/01/2013 10/01/2003 b 31,323,000
- --------------------------------------------------------------------------------------------------------------------
95,000 NYS ERDA (NIMO) 7.200 07/01/2029 07/01/2004 b 101,926
- --------------------------------------------------------------------------------------------------------------------
14,485,000 NYS ERDA (NYSEG) 5.700 12/01/2028 12/01/2003 b 14,966,481
- --------------------------------------------------------------------------------------------------------------------
15,000 NYS ERDA (NYSEG) 5.950 12/01/2027 12/01/2004 b 15,395
- --------------------------------------------------------------------------------------------------------------------
1,035,000 NYS ERDA (NYSEG) 6.050 04/01/2034 04/01/2004 b 1,087,443
- --------------------------------------------------------------------------------------------------------------------
4,010,000 NYS ERDA (NYSEG) 6.150 07/01/2026 07/01/2005 b 4,230,269
- --------------------------------------------------------------------------------------------------------------------
1,850,000 NYS ERDA (RG&E) 6.350 05/15/2032 11/15/2003 b 1,922,150
25 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$10,075,000 NYS ERDA (RG&E) 6.500% 05/15/2032 11/15/2003 b $10,195,094
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS GO 5.000 09/15/2017 11/15/2003 b 5,351
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS GO 5.300 07/15/2015 07/15/2006 b 27,227
- --------------------------------------------------------------------------------------------------------------------
20,000 NYS GO 5.625 10/01/2020 10/01/2005 b 21,740
- --------------------------------------------------------------------------------------------------------------------
40,000 NYS GO 6.600 12/01/2014 12/01/2003 b 41,211
- --------------------------------------------------------------------------------------------------------------------
400,000 NYS GO 9.875 11/15/2005 11/15/2005 476,188
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS HFA (Dominican Village) 6.600 08/15/2027 02/15/2004 b 52,365
- --------------------------------------------------------------------------------------------------------------------
114,000 NYS HFA (General Hsg.) 6.500 11/01/2003 11/01/2003 114,921
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS HFA (General Hsg.) 6.600 11/01/2005 11/02/2003 b 10,120
- --------------------------------------------------------------------------------------------------------------------
30,000 NYS HFA (General Hsg.) 6.600 11/01/2006 11/01/2003 b 30,360
- --------------------------------------------------------------------------------------------------------------------
780,000 NYS HFA (HELP-Bronx Hsg.) 8.050 11/01/2005 s 11/01/2003 b 803,595
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS HFA (Hospital & Nursing Home) 5.500 11/01/2005 11/09/2003 a 5,462
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS HFA (Hospital & Nursing Home) 5.500 11/01/2012 11/10/2003 a 5,881
- --------------------------------------------------------------------------------------------------------------------
15,000 NYS HFA (Hospital & Nursing Home) 5.875 11/01/2010 11/01/2003 a 17,820
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS HFA (Hospital & Nursing Home) 5.875 11/01/2011 11/01/2003 a 11,945
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS HFA (Hospital & Nursing Home) 5.900 11/01/2003 11/01/2003 5,080
- --------------------------------------------------------------------------------------------------------------------
30,000 NYS HFA (Hospital & Nursing Home) 5.900 11/01/2005 11/01/2003 a 33,048
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS HFA (Hospital & Nursing Home) 5.900 11/01/2010 11/13/2003 a 5,985
- --------------------------------------------------------------------------------------------------------------------
35,000 NYS HFA (Hospital & Nursing Home) 6.000 11/01/2014 11/01/2003 b 42,962
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS HFA (Hospital & Nursing Home) 6.875 11/01/2004 11/04/2003 a 10,752
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS HFA (Hospital & Nursing Home) 6.875 11/01/2005 11/04/2003 a 5,628
- --------------------------------------------------------------------------------------------------------------------
230,000 NYS HFA (Hospital & Nursing Home) 6.875 11/01/2007 11/01/2003 a 260,330
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS HFA (Hospital & Nursing Home) 6.875 11/01/2009 11/05/2003 a 6,261
- --------------------------------------------------------------------------------------------------------------------
3,000 NYS HFA (Hospital & Nursing Home) 6.875 11/01/2010 11/01/2003 a 3,793
- --------------------------------------------------------------------------------------------------------------------
575,000 NYS HFA (Hospital & Nursing Home) 7.000 11/01/2017 11/01/2003 a 741,969
- --------------------------------------------------------------------------------------------------------------------
70,000 NYS HFA (Meadow Manor) 7.750 11/01/2019 s 11/01/2003 b 70,330
- --------------------------------------------------------------------------------------------------------------------
110,000 NYS HFA
(Monroe County Health Facilities) 7.625 05/01/2005 s 11/01/2003 b 112,257
- --------------------------------------------------------------------------------------------------------------------
250,000 NYS HFA (Multifamily Hsg.) 0.000 z 11/01/2009 11/01/2003 b 181,655
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS HFA (Multifamily Hsg.) 0.000 z 11/01/2010 11/01/2006 b 6,839
- --------------------------------------------------------------------------------------------------------------------
200,000 NYS HFA (Multifamily Hsg.) 0.000 z 11/01/2011 11/01/2003 b 129,148
- --------------------------------------------------------------------------------------------------------------------
680,000 NYS HFA (Multifamily Hsg.) 0.000 z 11/01/2013 11/01/2003 b 389,817
- --------------------------------------------------------------------------------------------------------------------
9,730,000 NYS HFA (Multifamily Hsg.) 0.000 z 11/01/2014 11/01/2006 b 5,236,005
- --------------------------------------------------------------------------------------------------------------------
14,590,000 NYS HFA (Multifamily Hsg.) 0.000 z 11/01/2015 11/01/2006 b 7,408,802
- --------------------------------------------------------------------------------------------------------------------
585,000 NYS HFA (Multifamily Hsg.) 5.850 08/15/2013 s 02/15/2005 b 598,315
- --------------------------------------------------------------------------------------------------------------------
80,000 NYS HFA (Multifamily Hsg.) 5.950 08/15/2024 s 02/15/2005 b 82,300
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS HFA (Multifamily Hsg.) 6.000 08/15/2003 08/15/2003 5,025
- --------------------------------------------------------------------------------------------------------------------
60,000 NYS HFA (Multifamily Hsg.) 6.000 08/15/2027 s 02/15/2009 b 63,273
- --------------------------------------------------------------------------------------------------------------------
1,000,000 NYS HFA (Multifamily Hsg.) 6.100 08/15/2016 s 08/15/2008 b 1,036,330
- --------------------------------------------------------------------------------------------------------------------
400,000 NYS HFA (Multifamily Hsg.) 6.100 11/15/2036 11/15/2008 b 441,012
- --------------------------------------------------------------------------------------------------------------------
35,000 NYS HFA (Multifamily Hsg.) 6.200 08/15/2012 s 08/15/2003 b 35,524
- --------------------------------------------------------------------------------------------------------------------
20,000 NYS HFA (Multifamily Hsg.) 6.250 08/15/2014 s 08/15/2004 b 20,807
- --------------------------------------------------------------------------------------------------------------------
150,000 NYS HFA (Multifamily Hsg.) 6.250 08/15/2023 s 08/15/2004 b 151,869
- --------------------------------------------------------------------------------------------------------------------
100,000 NYS HFA (Multifamily Hsg.) 6.250 08/15/2027 s 08/15/2008 b 105,342
- --------------------------------------------------------------------------------------------------------------------
3,155,000 NYS HFA (Multifamily Hsg.) 6.350 08/15/2023 s 08/15/2004 b 3,354,238
- --------------------------------------------------------------------------------------------------------------------
1,025,000 NYS HFA (Multifamily Hsg.) 6.450 08/15/2014 s 08/15/2003 b 1,047,068
26 LIMITED TERM NEW YORK MUNICIPAL FUND
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 1,500,000 NYS HFA (Multifamily Hsg.) 6.500% 08/15/2024 s 08/15/2003 b $ 1,527,915
- --------------------------------------------------------------------------------------------------------------------
30,000 NYS HFA (Multifamily Hsg.) 6.500 08/15/2024 08/15/2003 b 30,575
- --------------------------------------------------------------------------------------------------------------------
725,000 NYS HFA (Multifamily Hsg.) 6.625 08/15/2012 08/15/2003 b 740,733
- --------------------------------------------------------------------------------------------------------------------
1,620,000 NYS HFA (Multifamily Hsg.) 6.700 08/15/2025 s 08/15/2003 b 1,654,490
- --------------------------------------------------------------------------------------------------------------------
350,000 NYS HFA (Multifamily Hsg.) 6.850 11/01/2019 s 11/01/2004 b 366,440
- --------------------------------------------------------------------------------------------------------------------
455,000 NYS HFA (Multifamily Hsg.) 6.900 08/15/2007 s 08/15/2003 b 465,424
- --------------------------------------------------------------------------------------------------------------------
175,000 NYS HFA (Multifamily Hsg.) 6.950 08/15/2012 s 08/15/2003 b 178,857
- --------------------------------------------------------------------------------------------------------------------
100,000 NYS HFA (Multifamily Hsg.) 7.000 08/15/2012 08/15/2003 b 103,525
- --------------------------------------------------------------------------------------------------------------------
60,000 NYS HFA (Multifamily Hsg.) 7.000 08/15/2022 08/15/2003 b 61,294
- --------------------------------------------------------------------------------------------------------------------
995,000 NYS HFA (Multifamily Hsg.) 7.000 08/15/2023 s 08/15/2003 b 997,468
- --------------------------------------------------------------------------------------------------------------------
350,000 NYS HFA (Multifamily Hsg.) 7.050 08/15/2024 s 08/15/2003 b 357,525
- --------------------------------------------------------------------------------------------------------------------
15,000 NYS HFA (Multifamily Hsg.) 7.300 11/01/2004 11/01/2003 b 15,242
- --------------------------------------------------------------------------------------------------------------------
384,000 NYS HFA (Multifamily Hsg.) 7.450 11/01/2028 s 11/01/2003 b 384,691
- --------------------------------------------------------------------------------------------------------------------
100,000 NYS HFA (Multifamily Hsg.) 7.450 11/01/2028 s 11/01/2003 b 100,184
- --------------------------------------------------------------------------------------------------------------------
2,215,000 NYS HFA (Multifamily Hsg.) 7.750 11/01/2020 s 11/01/2003 b 2,306,280
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS HFA (Nonprofit Hsg.) 6.000 11/01/2012 11/08/2003 b 5,056
- --------------------------------------------------------------------------------------------------------------------
40,000 NYS HFA (Nonprofit Hsg.) 6.200 11/01/2004 11/01/2003 b 40,859
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS HFA (Nonprofit Hsg.) 6.200 11/01/2005 11/05/2003 b 10,215
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS HFA (Nonprofit Hsg.) 6.200 11/01/2006 11/11/2003 b 5,107
- --------------------------------------------------------------------------------------------------------------------
20,000 NYS HFA (Nonprofit Hsg.) 6.200 11/01/2007 11/01/2003 b 20,428
- --------------------------------------------------------------------------------------------------------------------
40,000 NYS HFA (Nonprofit Hsg.) 6.200 11/01/2008 11/01/2003 b 40,856
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS HFA (Nonprofit Hsg.) 6.200 11/01/2009 11/06/2003 b 10,214
- --------------------------------------------------------------------------------------------------------------------
70,000 NYS HFA (Nonprofit Hsg.) 6.200 11/01/2011 11/01/2003 b 71,502
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS HFA (Nonprofit Hsg.) 6.200 11/01/2012 11/01/2003 b 51,071
- --------------------------------------------------------------------------------------------------------------------
15,000 NYS HFA (Nonprofit Hsg.) 6.200 11/01/2013 11/01/2003 b 15,321
- --------------------------------------------------------------------------------------------------------------------
30,000 NYS HFA (Nonprofit Hsg.) 6.400 11/01/2004 11/01/2003 b 30,343
- --------------------------------------------------------------------------------------------------------------------
145,000 NYS HFA (Nonprofit Hsg.) 6.400 11/01/2005 11/01/2003 b 146,730
- --------------------------------------------------------------------------------------------------------------------
120,000 NYS HFA (Nonprofit Hsg.) 6.400 11/01/2006 11/01/2003 b 121,367
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS HFA (Nonprofit Hsg.) 6.400 11/01/2007 11/01/2003 b 5,056
- --------------------------------------------------------------------------------------------------------------------
35,000 NYS HFA (Nonprofit Hsg.) 6.400 11/01/2008 11/01/2003 b 35,410
- --------------------------------------------------------------------------------------------------------------------
80,000 NYS HFA (Nonprofit Hsg.) 6.400 11/01/2009 11/01/2003 b 80,648
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS HFA (Nonprofit Hsg.) 6.400 11/01/2011 11/02/2003 b 5,057
- --------------------------------------------------------------------------------------------------------------------
765,000 NYS HFA (Nonprofit Hsg.) 6.400 11/01/2012 11/01/2003 b 774,142
- --------------------------------------------------------------------------------------------------------------------
55,000 NYS HFA (Nonprofit Hsg.) 6.400 11/01/2013 11/01/2003 b 56,524
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS HFA (Nonprofit Hsg.) 6.500 11/01/2003 11/01/2003 5,040
- --------------------------------------------------------------------------------------------------------------------
230,000 NYS HFA (Nonprofit Hsg.) 6.600 11/01/2003 11/01/2003 231,934
- --------------------------------------------------------------------------------------------------------------------
75,000 NYS HFA (Nonprofit Hsg.) 6.600 11/01/2005 11/01/2003 b 76,648
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS HFA (Nonprofit Hsg.) 6.600 11/01/2005 11/01/2003 b 50,600
- --------------------------------------------------------------------------------------------------------------------
45,000 NYS HFA (Nonprofit Hsg.) 6.600 11/01/2006 11/01/2003 b 45,989
- --------------------------------------------------------------------------------------------------------------------
15,000 NYS HFA (Nonprofit Hsg.) 6.600 11/01/2006 11/01/2003 b 15,180
- --------------------------------------------------------------------------------------------------------------------
180,000 NYS HFA (Nonprofit Hsg.) 6.600 11/01/2007 11/01/2003 b 183,944
- --------------------------------------------------------------------------------------------------------------------
115,000 NYS HFA (Nonprofit Hsg.) 6.600 11/01/2007 11/01/2003 b 116,374
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS HFA (Nonprofit Hsg.) 6.600 11/01/2008 11/01/2003 b 25,548
- --------------------------------------------------------------------------------------------------------------------
70,000 NYS HFA (Nonprofit Hsg.) 6.600 11/01/2008 11/01/2003 b 71,558
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS HFA (Nonprofit Hsg.) 6.600 11/01/2009 11/03/2003 b 10,120
27 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 20,000 NYS HFA (Nonprofit Hsg.) 6.600% 11/01/2009 11/01/2003 b $ 20,438
- --------------------------------------------------------------------------------------------------------------------
20,000 NYS HFA (Nonprofit Hsg.) 6.600 11/01/2010 11/01/2003 b 20,438
- --------------------------------------------------------------------------------------------------------------------
65,000 NYS HFA (Nonprofit Hsg.) 6.600 11/01/2011 11/01/2003 b 66,425
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS HFA (Nonprofit Hsg.) 6.600 11/01/2011 11/07/2003 b 5,060
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS HFA (Nonprofit Hsg.) 6.600 11/01/2012 11/01/2003 b 25,539
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS HFA (Nonprofit Hsg.) 6.600 11/01/2013 11/01/2003 b 25,542
- --------------------------------------------------------------------------------------------------------------------
100,000 NYS HFA (Nonprofit Hsg.) 6.750 11/01/2004 11/01/2003 b 102,766
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS HFA (Nonprofit Hsg.) 6.750 11/01/2005 11/03/2003 b 5,110
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS HFA (Nonprofit Hsg.) 6.750 11/01/2007 11/01/2003 b 25,551
- --------------------------------------------------------------------------------------------------------------------
15,000 NYS HFA (Nonprofit Hsg.) 6.750 11/01/2008 11/01/2003 b 15,330
- --------------------------------------------------------------------------------------------------------------------
85,000 NYS HFA (Nonprofit Hsg.) 6.750 11/01/2009 11/01/2003 b 86,873
- --------------------------------------------------------------------------------------------------------------------
45,000 NYS HFA (Nonprofit Hsg.) 6.750 11/01/2010 11/01/2003 b 45,991
- --------------------------------------------------------------------------------------------------------------------
1,420,000 NYS HFA (Nonprofit Hsg.) 6.750 11/01/2011 11/01/2003 b 1,458,368
- --------------------------------------------------------------------------------------------------------------------
30,000 NYS HFA (Nonprofit Hsg.) 6.750 11/01/2012 11/01/2003 b 30,653
- --------------------------------------------------------------------------------------------------------------------
60,000 NYS HFA (Nonprofit Hsg.) 6.750 11/01/2013 11/01/2003 b 62,151
- --------------------------------------------------------------------------------------------------------------------
61,000 NYS HFA (Nonprofit Hsg.) 6.875 11/01/2010 11/01/2003 b 61,805
- --------------------------------------------------------------------------------------------------------------------
1,245,000 NYS HFA (Nonprofit Hsg.) 8.400 11/01/2003 11/01/2003 1,277,544
- --------------------------------------------------------------------------------------------------------------------
1,335,000 NYS HFA (Nonprofit Hsg.) 8.400 11/01/2004 11/01/2003 b 1,369,897
- --------------------------------------------------------------------------------------------------------------------
1,455,000 NYS HFA (Nonprofit Hsg.) 8.400 11/01/2005 11/01/2003 b 1,493,034
- --------------------------------------------------------------------------------------------------------------------
1,570,000 NYS HFA (Nonprofit Hsg.) 8.400 11/01/2006 11/01/2003 b 1,611,040
- --------------------------------------------------------------------------------------------------------------------
1,710,000 NYS HFA (Nonprofit Hsg.) 8.400 11/01/2007 11/01/2003 b 1,754,699
- --------------------------------------------------------------------------------------------------------------------
1,865,000 NYS HFA (Nonprofit Hsg.) 8.400 11/01/2008 11/01/2003 b 1,940,999
- --------------------------------------------------------------------------------------------------------------------
4,000,000 NYS HFA (NYC Health Facilities) 6.000 11/01/2006 11/01/2006 4,477,320
- --------------------------------------------------------------------------------------------------------------------
1,435,000 NYS HFA (NYC Health Facilities) 6.000 05/01/2007 05/01/2007 1,600,298
- --------------------------------------------------------------------------------------------------------------------
4,165,000 NYS HFA (NYC Health Facilities) 6.000 05/01/2008 05/01/2006 b 4,602,575
- --------------------------------------------------------------------------------------------------------------------
2,000,000 NYS HFA (NYC Health Facilities) 6.375 11/01/2004 11/01/2004 2,129,220
- --------------------------------------------------------------------------------------------------------------------
175,000 NYS HFA (Phillips Village) 6.900 02/15/2004 02/15/2004 179,319
- --------------------------------------------------------------------------------------------------------------------
85,000 NYS HFA (Phillips Village) 6.900 08/15/2004 08/15/2004 88,627
- --------------------------------------------------------------------------------------------------------------------
2,400,000 NYS HFA (Phillips Village) 7.750 08/15/2017 02/15/2005 b 2,597,088
- --------------------------------------------------------------------------------------------------------------------
160,000 NYS HFA (Service Contract) 5.500 09/15/2022 s 03/15/2010 b 171,333
- --------------------------------------------------------------------------------------------------------------------
5,105,000 NYS HFA (Service Contract) 5.875 09/15/2014 09/15/2003 b 5,227,877
- --------------------------------------------------------------------------------------------------------------------
125,000 NYS HFA (Service Contract) 5.875 09/15/2014 09/15/2003 b 128,541
- --------------------------------------------------------------------------------------------------------------------
9,580,000 NYS HFA (Service Contract) 6.000 03/15/2026 09/15/2006 b 11,094,023
- --------------------------------------------------------------------------------------------------------------------
550,000 NYS HFA (Service Contract) 6.000 03/15/2026 09/15/2006 b 618,123
- --------------------------------------------------------------------------------------------------------------------
45,000 NYS HFA (Service Contract) 6.125 03/15/2020 s 09/15/2003 b 46,283
- --------------------------------------------------------------------------------------------------------------------
365,000 NYS HFA (Simeon Dewitt) 8.000 11/01/2018 s 11/01/2003 b 369,964
- --------------------------------------------------------------------------------------------------------------------
20,000,000 NYS HFA VRDB, Series A 1.000 v 11/01/2034 07/02/2003 f 20,000,000
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS HFA, Series A 5.800 11/01/2009 05/01/2006 b 27,094
- --------------------------------------------------------------------------------------------------------------------
2,350,000 NYS HFA, Series A 6.100 11/01/2015 s 05/01/2008 b 2,536,261
- --------------------------------------------------------------------------------------------------------------------
4,760,000 NYS HFA, Series A 6.125 11/01/2020 s 05/01/2006 b 5,141,133
- --------------------------------------------------------------------------------------------------------------------
35,000 NYS LGAC 5.000 04/01/2021 s 04/01/2005 b 35,971
- --------------------------------------------------------------------------------------------------------------------
45,000 NYS LGAC 5.375 04/01/2014 04/01/2004 b 47,179
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS LGAC 5.375 04/01/2016 04/01/2007 b 27,734
- --------------------------------------------------------------------------------------------------------------------
11,415,000 NYS LGAC 5.400 04/01/2015 04/01/2007 b 12,669,965
- --------------------------------------------------------------------------------------------------------------------
2,250,000 NYS LGAC 5.500 04/01/2008 04/01/2008 2,581,605
28 LIMITED TERM NEW YORK MUNICIPAL FUND
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 140,000 NYS LGAC 5.500% 04/01/2023 04/01/2004 b $ 146,910
- --------------------------------------------------------------------------------------------------------------------
150,000 NYS LGAC 6.000 04/01/2024 04/01/2005 b 165,483
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS LGAC, Series A 5.250 04/01/2019 04/01/2004 b 10,393
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS LGAC, Series A 5.375 04/01/2014 s 04/01/2004 b 5,242
- --------------------------------------------------------------------------------------------------------------------
15,000 NYS LGAC, Series A 5.500 04/01/2023 04/01/2004 b 15,740
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS LGAC, Series C 5.000 04/01/2021 04/01/2004 b 10,277
- --------------------------------------------------------------------------------------------------------------------
60,000 NYS LGAC, Series D 5.000 04/01/2023 04/01/2004 b 61,843
- --------------------------------------------------------------------------------------------------------------------
90,000 NYS LGAC, Series D 5.000 04/01/2023 04/01/2004 b 92,035
- --------------------------------------------------------------------------------------------------------------------
30,000 NYS LGAC, Series D 5.000 04/01/2023 04/01/2004 b 30,922
- --------------------------------------------------------------------------------------------------------------------
35,000 NYS LGAC, Series D 5.000 04/01/2023 04/01/2004 b 35,776
- --------------------------------------------------------------------------------------------------------------------
505,000 NYS LGSC (SCSB) i 6.375 12/15/2009 03/04/2007 c 504,591
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS Medcare (Beth Israel Medical Center) 5.000 11/01/2013 11/01/2003 25,761
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS Medcare (Beth Israel Medical Center) 6.000 11/01/2012 11/01/2004 b 5,374
- --------------------------------------------------------------------------------------------------------------------
785,000 NYS Medcare (Beth Israel Medical Center) 7.125 11/01/2006 06/02/2005 c 778,838
- --------------------------------------------------------------------------------------------------------------------
545,000 NYS Medcare (Beth Israel Medical Center) 7.200 11/01/2014 09/12/2011 c 522,851
- --------------------------------------------------------------------------------------------------------------------
230,000 NYS Medcare (Beth Israel Medical Center) 7.400 11/01/2004 s 11/01/2003 b 236,992
- --------------------------------------------------------------------------------------------------------------------
8,430,000 NYS Medcare (Buffalo General Hospital) 6.000 08/15/2014 s 08/15/2004 b 8,978,203
- --------------------------------------------------------------------------------------------------------------------
120,000 NYS Medcare (Buffalo General Hospital) 6.125 08/15/2024 08/15/2006 b 127,844
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS Medcare (Central Suffolk Hospital) 5.875 11/01/2005 11/14/2004 c 5,051
- --------------------------------------------------------------------------------------------------------------------
35,000 NYS Medcare
(FF Thompson Hospital Foundation) 5.800 11/01/2013 11/01/2003 b 36,167
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS Medcare (FHA Insured Mtg.) 5.650 08/15/2013 08/15/2005 b 5,129
- --------------------------------------------------------------------------------------------------------------------
35,000 NYS Medcare (FHA Insured Mtg.) 5.650 08/15/2013 08/15/2005 b 35,864
- --------------------------------------------------------------------------------------------------------------------
265,000 NYS Medcare (FHA Insured Mtg.) 5.900 08/15/2033 08/15/2003 b 271,493
- --------------------------------------------------------------------------------------------------------------------
3,000,000 NYS Medcare (FHA Insured Mtg.) 6.050 02/15/2015 08/15/2005 b 3,296,700
- --------------------------------------------------------------------------------------------------------------------
800,000 NYS Medcare (Healthcare) 6.350 11/01/2014 s 11/01/2003 b 833,120
- --------------------------------------------------------------------------------------------------------------------
930,000 NYS Medcare (Hospital & Nursing Home) 5.950 08/15/2009 08/15/2003 b 946,229
- --------------------------------------------------------------------------------------------------------------------
55,000 NYS Medcare (Hospital & Nursing Home) 6.100 02/15/2033 s 08/15/2003 b 56,014
- --------------------------------------------------------------------------------------------------------------------
135,000 NYS Medcare (Hospital & Nursing Home) 6.125 02/15/2014 02/15/2004 a 140,225
- --------------------------------------------------------------------------------------------------------------------
1,175,000 NYS Medcare (Hospital & Nursing Home) 6.125 02/15/2014 s 02/15/2006 b 1,230,707
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS Medcare (Hospital & Nursing Home) 6.125 02/15/2015 s 02/15/2006 b 5,640
- --------------------------------------------------------------------------------------------------------------------
20,000 NYS Medcare (Hospital & Nursing Home) 6.125 02/15/2015 s 02/15/2006 b 21,650
- --------------------------------------------------------------------------------------------------------------------
2,425,000 NYS Medcare (Hospital & Nursing Home) 6.200 08/15/2013 08/15/2003 b 2,482,327
- --------------------------------------------------------------------------------------------------------------------
1,855,000 NYS Medcare (Hospital & Nursing Home) 6.200 02/15/2021 02/15/2004 b 1,940,274
- --------------------------------------------------------------------------------------------------------------------
90,000 NYS Medcare (Hospital & Nursing Home) 6.200 08/15/2022 08/15/2003 b 93,704
- --------------------------------------------------------------------------------------------------------------------
1,385,000 NYS Medcare (Hospital & Nursing Home) 6.200 02/15/2028 s 02/15/2005 b 1,488,487
- --------------------------------------------------------------------------------------------------------------------
150,000 NYS Medcare (Hospital & Nursing Home) 6.250 08/15/2012 s 08/15/2004 a 158,840
- --------------------------------------------------------------------------------------------------------------------
80,000 NYS Medcare (Hospital & Nursing Home) 6.250 02/15/2015 08/15/2005 b 88,313
- --------------------------------------------------------------------------------------------------------------------
200,000 NYS Medcare (Hospital & Nursing Home) 6.250 02/15/2027 02/15/2004 b 209,282
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS Medcare (Hospital & Nursing Home) 6.550 08/15/2012 08/15/2003 b 5,080
- --------------------------------------------------------------------------------------------------------------------
165,000 NYS Medcare (Hospital & Nursing Home) 6.850 02/15/2012 s 08/15/2003 b 167,290
- --------------------------------------------------------------------------------------------------------------------
6,975,000 NYS Medcare (Hospital & Nursing Home) 6.875 02/15/2032 08/15/2003 b 7,088,135
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS Medcare (Hospital & Nursing Home) 7.000 08/15/2032 s 08/17/2003 b 50,791
- --------------------------------------------------------------------------------------------------------------------
240,000 NYS Medcare (Hospital & Nursing Home) 7.250 11/01/2003 11/01/2003 243,562
- --------------------------------------------------------------------------------------------------------------------
80,000 NYS Medcare (Hospital & Nursing Home) 7.300 08/15/2011 08/15/2003 b 80,551
29 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 315,000 NYS Medcare (Hospital & Nursing Home) 7.350% 02/15/2029 08/15/2003 b $ 316,433
- --------------------------------------------------------------------------------------------------------------------
250,000 NYS Medcare (Hospital & Nursing Home) 7.350 02/15/2029 08/15/2003 b 261,575
- --------------------------------------------------------------------------------------------------------------------
875,000 NYS Medcare (Hospital & Nursing Home) 7.400 11/01/2016 s 11/01/2003 b 903,963
- --------------------------------------------------------------------------------------------------------------------
5,425,000 NYS Medcare (Hospital & Nursing Home) 7.450 08/15/2031 08/15/2003 a 5,659,089
- --------------------------------------------------------------------------------------------------------------------
1,155,000 NYS Medcare (Hospital & Nursing Home) 9.375 11/01/2016 s 11/01/2003 b 1,227,014
- --------------------------------------------------------------------------------------------------------------------
990,000 NYS Medcare (Hospital & Nursing Home) 10.000 11/01/2006 s 11/01/2003 b 1,056,924
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS Medcare (Insured Mtg. Nursing) 6.150 02/15/2025 02/15/2005 b 10,799
- --------------------------------------------------------------------------------------------------------------------
95,000 NYS Medcare (Long Term Health Care) 6.100 11/01/2004 11/01/2003 b 96,337
- --------------------------------------------------------------------------------------------------------------------
220,000 NYS Medcare (Long Term Health Care) 6.400 11/01/2014 s 11/01/2003 b 223,045
- --------------------------------------------------------------------------------------------------------------------
1,865,000 NYS Medcare (Long Term Health Care) 6.450 11/01/2014 s 11/01/2003 b 1,890,886
- --------------------------------------------------------------------------------------------------------------------
45,000 NYS Medcare (Long Term Health Care) 6.700 11/01/2007 11/01/2003 b 45,654
- --------------------------------------------------------------------------------------------------------------------
1,150,000 NYS Medcare (Long Term Health Care) 6.800 11/01/2014 s 11/01/2003 b 1,166,296
- --------------------------------------------------------------------------------------------------------------------
130,000 NYS Medcare (Long Term Health Care) 7.100 11/01/2012 s 11/01/2003 b 130,580
- --------------------------------------------------------------------------------------------------------------------
180,000 NYS Medcare (Long Term Health Care) 7.300 11/01/2005 s 11/01/2003 b 180,909
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS Medcare (Long Term Health Care) 7.375 11/01/2011 s 11/01/2003 b 51,180
- --------------------------------------------------------------------------------------------------------------------
130,000 NYS Medcare (Mental Health) 5.250 08/15/2014 02/15/2004 b 135,214
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS Medcare (Mental Health) 5.250 02/15/2019 02/15/2004 b 25,993
- --------------------------------------------------------------------------------------------------------------------
20,000 NYS Medcare (Mental Health) 5.250 02/15/2019 02/15/2004 b 20,789
- --------------------------------------------------------------------------------------------------------------------
110,000 NYS Medcare (Mental Health) 5.250 02/15/2019 02/15/2006 b 114,270
- --------------------------------------------------------------------------------------------------------------------
680,000 NYS Medcare (Mental Health) 5.250 02/15/2019 s 02/15/2004 b 706,833
- --------------------------------------------------------------------------------------------------------------------
30,000 NYS Medcare (Mental Health) 5.250 02/15/2019 02/15/2006 b 31,184
- --------------------------------------------------------------------------------------------------------------------
65,000 NYS Medcare (Mental Health) 5.250 02/15/2021 02/15/2004 b 67,565
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS Medcare (Mental Health) 5.250 08/15/2023 02/15/2004 b 10,395
- --------------------------------------------------------------------------------------------------------------------
400,000 NYS Medcare (Mental Health) 5.250 08/15/2023 08/15/2003 b 409,600
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS Medcare (Mental Health) 5.250 08/15/2023 02/15/2004 b 25,288
- --------------------------------------------------------------------------------------------------------------------
30,000 NYS Medcare (Mental Health) 5.250 08/15/2023 02/15/2004 b 31,184
- --------------------------------------------------------------------------------------------------------------------
65,000 NYS Medcare (Mental Health) 5.250 08/15/2023 08/15/2005 b 66,560
- --------------------------------------------------------------------------------------------------------------------
200,000 NYS Medcare (Mental Health) 5.250 08/15/2023 02/15/2005 b 207,892
- --------------------------------------------------------------------------------------------------------------------
680,000 NYS Medcare (Mental Health) 5.250 08/15/2023 08/15/2003 a 696,320
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS Medcare (Mental Health) 5.375 08/15/2013 08/15/2003 b 25,610
- --------------------------------------------------------------------------------------------------------------------
70,000 NYS Medcare (Mental Health) 5.375 02/15/2014 02/15/2004 b 72,862
- --------------------------------------------------------------------------------------------------------------------
15,000 NYS Medcare (Mental Health) 5.375 02/15/2014 02/15/2004 b 15,613
- --------------------------------------------------------------------------------------------------------------------
670,000 NYS Medcare (Mental Health) 5.375 02/15/2014 02/15/2004 b 697,390
- --------------------------------------------------------------------------------------------------------------------
30,000 NYS Medcare (Mental Health) 5.375 08/15/2019 02/15/2004 b 31,207
- --------------------------------------------------------------------------------------------------------------------
10,940,000 NYS Medcare (Mental Health) 5.500 08/15/2021 s 08/15/2003 b 11,197,090
- --------------------------------------------------------------------------------------------------------------------
55,000 NYS Medcare (Mental Health) 5.500 08/15/2024 s 02/15/2006 b 57,084
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS Medcare (Mental Health) 5.650 02/15/2007 08/15/2003 b 5,127
- --------------------------------------------------------------------------------------------------------------------
140,000 NYS Medcare (Mental Health) 5.750 02/15/2014 08/15/2003 b 143,478
- --------------------------------------------------------------------------------------------------------------------
1,145,000 NYS Medcare (Mental Health) 5.800 02/15/2019 s 08/15/2003 b 1,173,442
- --------------------------------------------------------------------------------------------------------------------
40,000 NYS Medcare (Mental Health) 5.800 08/15/2022 s 08/15/2003 b 40,852
- --------------------------------------------------------------------------------------------------------------------
330,000 NYS Medcare (Mental Health) 5.900 08/15/2022 s 08/15/2003 b 337,689
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS Medcare (Mental Health) 6.150 08/15/2005 08/15/2003 b 25,352
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS Medcare (Mental Health) 6.375 08/15/2014 08/15/2004 b 5,401
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS Medcare (Mental Health) 6.500 08/15/2024 08/15/2004 a 5,354
- --------------------------------------------------------------------------------------------------------------------
85,000 NYS Medcare (Mental Health) 7.375 02/15/2014 s 08/15/2003 b 85,388
30 LIMITED TERM NEW YORK MUNICIPAL FUND
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 85,000 NYS Medcare
(Montefiore Medical Center) 5.700% 02/15/2012 02/15/2007 b $ 91,657
- --------------------------------------------------------------------------------------------------------------------
6,170,000 NYS Medcare
(Montefiore Medical Center) 5.750 02/15/2025 s 02/15/2007 b 6,643,424
- --------------------------------------------------------------------------------------------------------------------
55,000 NYS Medcare
(NY & Presbyterian Hospital) 5.375 02/15/2025 02/15/2004 b 57,195
- --------------------------------------------------------------------------------------------------------------------
1,965,000 NYS Medcare
(Our Lady of Mercy Medical Center) 6.250 08/15/2015 s 02/15/2005 b 2,064,724
- --------------------------------------------------------------------------------------------------------------------
70,000 NYS Medcare
(Our Lady of Victory Hospital) 6.625 11/01/2016 s 11/01/2003 b 70,976
- --------------------------------------------------------------------------------------------------------------------
6,360,000 NYS Medcare (Presbyterian Hospital) 5.250 08/15/2014 02/15/2004 b 6,634,307
- --------------------------------------------------------------------------------------------------------------------
365,000 NYS Medcare (Presbyterian Hospital) 5.375 02/15/2025 02/15/2004 b 379,428
- --------------------------------------------------------------------------------------------------------------------
260,000 NYS Medcare (Presbyterian Hospital) 5.500 08/15/2024 s 02/15/2004 b 270,660
- --------------------------------------------------------------------------------------------------------------------
45,000 NYS Medcare (Secured Hospital) 6.125 08/15/2013 s 02/15/2004 b 47,054
- --------------------------------------------------------------------------------------------------------------------
180,000 NYS Medcare (Secured Hospital) 6.250 02/15/2024 s 02/15/2004 b 187,884
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS Medcare
(Sisters of Charity Hospital) 6.400 11/01/2005 11/01/2003 b 50,715
- --------------------------------------------------------------------------------------------------------------------
235,000 NYS Medcare
(Sisters of Charity Hospital) 6.600 11/01/2007 s 11/01/2003 b 238,398
- --------------------------------------------------------------------------------------------------------------------
595,000 NYS Medcare
(Sisters of Charity Hospital) 6.600 11/01/2010 s 11/01/2003 b 622,013
- --------------------------------------------------------------------------------------------------------------------
9,160,000 NYS Medcare
(Sisters of Charity Hospital) 6.625 11/01/2018 11/01/2003 b 9,546,552
- --------------------------------------------------------------------------------------------------------------------
745,000 NYS Medcare (St. Luke's Hospital) 5.600 08/15/2013 s 08/15/2005 b 764,251
- --------------------------------------------------------------------------------------------------------------------
300,000 NYS Medcare (St. Luke's Hospital) 5.625 08/15/2018 s 08/15/2005 b 307,356
- --------------------------------------------------------------------------------------------------------------------
595,000 NYS Medcare (St. Luke's Hospital) 5.625 08/15/2018 08/15/2003 b 609,631
- --------------------------------------------------------------------------------------------------------------------
120,000 NYS Medcare (St. Luke's Hospital) 5.700 02/15/2029 s 08/15/2003 b 122,944
- --------------------------------------------------------------------------------------------------------------------
2,930,000 NYS Medcare (St. Luke's Hospital) 7.500 11/01/2011 s 11/01/2003 b 3,043,391
- --------------------------------------------------------------------------------------------------------------------
100,000 NYS Medcare (St. Peter's Hospital) 5.375 11/01/2020 11/01/2003 b 102,952
- --------------------------------------------------------------------------------------------------------------------
2,405,000 NYS Muni Bond Bank Agency
(Special Program--City of Buffalo) 6.875 03/15/2006 s 09/15/2003 b 2,495,669
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS Power Authority, Series A 5.000 11/15/2019 12/15/2005 b 52,475
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS Power Authority, Series F 5.500 01/01/2010 01/01/2004 a 11,228
- --------------------------------------------------------------------------------------------------------------------
45,000 NYS Thruway Authority Service Contract
(Highway & Bridge) 5.750 04/01/2016 04/01/2006 a 51,100
- --------------------------------------------------------------------------------------------------------------------
1,015,000 NYS Thruway Authority Service Contract
(Highway & Bridge) 6.000 04/01/2011 04/01/2007 b 1,165,687
- --------------------------------------------------------------------------------------------------------------------
250,000 NYS Thruway Authority, Series A 0.000 z 01/01/2005 01/01/2005 243,195
- --------------------------------------------------------------------------------------------------------------------
385,000 NYS Thruway Authority, Series A 0.000 z 01/01/2006 01/01/2006 365,072
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS Thruway Authority, Series A 5.500 04/01/2015 04/01/2005 a 54,729
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS Thruway Authority, Series B 5.000 01/01/2020 s 01/01/2004 b 10,350
- --------------------------------------------------------------------------------------------------------------------
675,000 NYS Thruway Authority, Series E 5.250 01/01/2015 01/01/2008 b 745,416
- --------------------------------------------------------------------------------------------------------------------
20,000 NYS Thurway Authority, Series B 5.125 04/01/2015 s 04/01/2005 b 21,762
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS Thurway Authority, Series B 5.125 04/01/2015 s 04/01/2005 b 10,710
- --------------------------------------------------------------------------------------------------------------------
20,000 NYS Thurway Authority, Series C 5.250 04/01/2015 04/01/2008 b 22,240
- --------------------------------------------------------------------------------------------------------------------
30,000 NYS UDC (Correctional Facilities) 0.000 z 01/01/2007 01/01/2007 27,600
- --------------------------------------------------------------------------------------------------------------------
80,000 NYS UDC (Correctional Facilities) 5.000 01/01/2017 01/01/2006 b 81,993
31 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 75,000 NYS UDC (Correctional Facilities) 5.000% 01/01/2020 s 01/01/2008 b $ 78,509
- --------------------------------------------------------------------------------------------------------------------
615,000 NYS UDC (Correctional Facilities) 5.250 01/01/2021 s 01/01/2006 b 636,636
- --------------------------------------------------------------------------------------------------------------------
535,000 NYS UDC (Correctional Facilities) 5.250 01/01/2021 01/01/2006 b 554,260
- --------------------------------------------------------------------------------------------------------------------
245,000 NYS UDC (Correctional Facilities) 5.250 01/01/2021 s 01/01/2004 b 253,820
- --------------------------------------------------------------------------------------------------------------------
2,860,000 NYS UDC (Correctional Facilities) 5.375 01/01/2015 01/01/2008 b 3,099,268
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS UDC (Correctional Facilities) 5.375 01/01/2023 01/01/2004 b 10,423
- --------------------------------------------------------------------------------------------------------------------
100,000 NYS UDC (Correctional Facilities) 5.500 01/01/2016 s 01/01/2004 b 103,694
- --------------------------------------------------------------------------------------------------------------------
130,000 NYS UDC (Correctional Facilities) 5.500 01/01/2016 s 01/01/2004 b 134,802
- --------------------------------------------------------------------------------------------------------------------
55,000 NYS UDC (Correctional Facilities) 5.500 01/01/2016 s 01/01/2006 b 57,088
- --------------------------------------------------------------------------------------------------------------------
55,000 NYS UDC (Correctional Facilities) 5.500 01/01/2025 01/01/2005 a 59,649
- --------------------------------------------------------------------------------------------------------------------
10,000,000 NYS UDC (Correctional Facilities) 5.625 01/01/2017 01/01/2006 a 11,230,000
- --------------------------------------------------------------------------------------------------------------------
10,000 NYS UDC (Correctional Facilities) 5.700 01/01/2016 01/01/2007 b 11,192
- --------------------------------------------------------------------------------------------------------------------
25,000 NYS UDC (Correctional Facilities) 5.875 04/01/2007 04/01/2004 b 26,428
- --------------------------------------------------------------------------------------------------------------------
5,000,000 NYS UDC (Correctional Facilities) 5.875 01/01/2019 01/01/2009 a 5,944,500
- --------------------------------------------------------------------------------------------------------------------
5,000,000 NYS UDC (Personal Income Tax) 5.500 03/15/2021 03/15/2013 b 5,604,600
- --------------------------------------------------------------------------------------------------------------------
895,000 NYS UDC (Senior Lien) 5.375 07/01/2022 07/01/2006 b 969,598
- --------------------------------------------------------------------------------------------------------------------
11,900,000 NYS UDC (Senior Lien) 5.500 07/01/2016 s 07/01/2006 b 13,193,292
- --------------------------------------------------------------------------------------------------------------------
130,000 NYS UDC (South Mall) CAB 0.000 z 01/01/2005 06/24/2004 c 122,326
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS UDC (South Mall) CAB 0.000 z 01/01/2005 06/24/2004 c 47,095
- --------------------------------------------------------------------------------------------------------------------
106,185,000 NYS UDC (South Mall) CAB 0.000 z 01/01/2011 04/08/2008 c 73,408,876
- --------------------------------------------------------------------------------------------------------------------
1,020,000 NYS UDC (South Mall) CAB 0.000 z 01/01/2011 04/08/2008 c 708,472
- --------------------------------------------------------------------------------------------------------------------
895,000 NYS UDC (South Mall) CAB 0.000 z 01/01/2011 04/08/2008 c 618,740
- --------------------------------------------------------------------------------------------------------------------
5,000 NYS UDC (Subordinated Lien) 5.500 07/01/2016 07/01/2008 b 5,513
- --------------------------------------------------------------------------------------------------------------------
6,100,000 NYS UDC (Subordinated Lien) 5.500 07/01/2022 s 07/01/2008 b 6,528,342
- --------------------------------------------------------------------------------------------------------------------
6,630,000 NYS UDC (Subordinated Lien) 5.600 07/01/2026 s 07/01/2008 b 7,101,327
- --------------------------------------------------------------------------------------------------------------------
50,000 NYS UDC (Syracuse University) 5.500 01/01/2014 01/01/2004 b 51,152
- --------------------------------------------------------------------------------------------------------------------
155,000 NYS UDC, Series A 5.500 04/01/2016 s 04/01/2006 b 170,733
- --------------------------------------------------------------------------------------------------------------------
15,000 NYS UDC, Series A 5.500 04/01/2019 04/01/2006 b 16,523
- --------------------------------------------------------------------------------------------------------------------
1,395,000 Oneida County IDA (Bonide Products) 5.750 11/01/2007 12/09/2005 c 1,362,943
- --------------------------------------------------------------------------------------------------------------------
2,285,000 Oneida County IDA (Faxton Hospital) 6.625 01/01/2015 s 01/01/2010 b 2,697,054
- --------------------------------------------------------------------------------------------------------------------
600,000 Oneida County IDA (Presbyterian Home) 6.100 06/01/2020 06/01/2010 b 655,722
- --------------------------------------------------------------------------------------------------------------------
1,000,000 Oneida County IDA (Presbyterian Home) 6.250 06/01/2015 06/01/2010 b 1,135,580
- --------------------------------------------------------------------------------------------------------------------
3,895,000 Oneida Healthcare Corp. 5.500 02/01/2016 s 02/01/2013 b 4,242,668
- --------------------------------------------------------------------------------------------------------------------
1,150,000 Oneida-Herkimer SWMA 6.600 04/01/2004 10/01/2003 b 1,177,761
- --------------------------------------------------------------------------------------------------------------------
155,000 Oneida-Herkimer SWMA 6.750 04/01/2014 s 04/01/2005 b 156,965
- --------------------------------------------------------------------------------------------------------------------
15,000 Oneonta Hsg. Devel. Corp. 5.450 07/01/2022 s 01/01/2006 b 15,080
- --------------------------------------------------------------------------------------------------------------------
150,000 Onondaga County IDA (Coltec Industries) 7.250 06/01/2008 s 12/01/2003 b 152,828
- --------------------------------------------------------------------------------------------------------------------
365,000 Onondaga County IDA (Coltec Industries) 9.875 10/01/2010 10/01/2003 b 381,279
- --------------------------------------------------------------------------------------------------------------------
2,605,000 Onondaga County IDA (Le Moyne College) 5.000 12/01/2012 07/22/2010 c 2,800,297
- --------------------------------------------------------------------------------------------------------------------
510,000 Onondaga County IDA (Le Moyne College) 5.500 03/01/2014 03/01/2009 g 541,513
- --------------------------------------------------------------------------------------------------------------------
7,685,000 Onondaga County Res Rec 6.875 05/01/2006 05/17/2005 c 6,919,574
- --------------------------------------------------------------------------------------------------------------------
15,035,000 Onondaga County Res Rec 7.000 05/01/2015 10/17/2011 c 13,110,821
- --------------------------------------------------------------------------------------------------------------------
210,000 Orange County IDA (Glen Arden) 5.350 01/01/2007 01/01/2007 214,496
- --------------------------------------------------------------------------------------------------------------------
230,000 Orange County IDA (Glen Arden) 5.400 01/01/2008 01/01/2008 234,411
- --------------------------------------------------------------------------------------------------------------------
295,000 Orange County IDA
(Kingston Manufacturing) i 7.250 11/01/2003 11/01/2003 293,670
32 LIMITED TERM NEW YORK MUNICIPAL FUND
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 40,000 Orange County IDA (Mental Health) 6.000% 05/01/2008 05/01/2006 b $ 44,137
- --------------------------------------------------------------------------------------------------------------------
60,000 Orange County IDA (Mental Health) 6.125 05/01/2016 s 05/01/2008 b 63,746
- --------------------------------------------------------------------------------------------------------------------
5,065,000 Orange County IDA (St. Luke's
Cornwall Hospital Obligated Group) 6.000 12/01/2016 s 12/01/2011 b 5,689,666
- --------------------------------------------------------------------------------------------------------------------
1,920,000 Orange County IDA (St. Luke's
Cornwall Hospital Obligated Group) 6.000 12/01/2016 s 12/01/2011 b 2,156,794
- --------------------------------------------------------------------------------------------------------------------
1,180,000 Oswego County Res Rec 6.500 06/01/2004 05/31/2004 c 1,227,896
- --------------------------------------------------------------------------------------------------------------------
1,350,000 Otsego County IDA (Hartwick College) 6.000 07/01/2013 07/01/2012 b 1,506,479
- --------------------------------------------------------------------------------------------------------------------
1,435,000 Otsego County IDA (Hartwick College) 6.000 07/01/2014 07/01/2012 b 1,583,393
- --------------------------------------------------------------------------------------------------------------------
1,520,000 Otsego County IDA (Hartwick College) 6.000 07/01/2015 07/01/2012 b 1,660,190
- --------------------------------------------------------------------------------------------------------------------
1,610,000 Otsego County IDA (Hartwick College) 6.000 07/01/2016 07/01/2012 b 1,746,206
- --------------------------------------------------------------------------------------------------------------------
50,000 Philadelphia, NY GO 7.500 12/15/2009 12/15/2009 63,453
- --------------------------------------------------------------------------------------------------------------------
21,985,000 Port Authority NY/NJ (Delta AirLines) 6.950 06/01/2008 06/01/2004 b 22,165,497
- --------------------------------------------------------------------------------------------------------------------
52,305,000 Port Authority NY/NJ
(JFK International Air Terminal) 5.750 12/01/2022 s 12/01/2007 b 56,439,187
- --------------------------------------------------------------------------------------------------------------------
7,655,000 Port Authority NY/NJ
(JFK International Air Terminal) 5.750 12/01/2025 s 12/01/2007 b 8,310,574
- --------------------------------------------------------------------------------------------------------------------
28,990,000 Port Authority NY/NJ
(JFK International Air Terminal) 5.900 12/01/2017 s 12/01/2007 b 32,369,364
- --------------------------------------------------------------------------------------------------------------------
5,955,000 Port Authority NY/NJ
(JFK International Air Terminal) 6.250 12/01/2010 12/01/2010 7,011,655
- --------------------------------------------------------------------------------------------------------------------
13,275,000 Port Authority NY/NJ (KIAC) 6.750 10/01/2011 10/01/2006 b 13,976,053
- --------------------------------------------------------------------------------------------------------------------
18,685,000 Port Authority NY/NJ (KIAC) 6.750 10/01/2019 s 10/01/2008 b 19,297,681
- --------------------------------------------------------------------------------------------------------------------
15,100,000 Port Authority NY/NJ (KIAC) 7.000 10/01/2007 10/20/2005 c 15,953,754
- --------------------------------------------------------------------------------------------------------------------
15,000 Port Authority NY/NJ, 100th Series 5.750 12/15/2015 06/15/2005 b 16,224
- --------------------------------------------------------------------------------------------------------------------
25,000 Port Authority NY/NJ, 100th Series 5.750 12/15/2020 06/15/2005 b 27,040
- --------------------------------------------------------------------------------------------------------------------
200,000 Port Authority NY/NJ, 101st Series 5.750 09/15/2015 09/15/2005 b 215,630
- --------------------------------------------------------------------------------------------------------------------
1,000,000 Port Authority NY/NJ, 104th Series 5.200 07/15/2017 01/15/2006 b 1,076,110
- --------------------------------------------------------------------------------------------------------------------
2,000,000 Port Authority NY/NJ, 105th Series 6.250 09/01/2006 03/01/2006 2,242,400
- --------------------------------------------------------------------------------------------------------------------
3,425,000 Port Authority NY/NJ, 107th Series 5.250 10/15/2012 10/15/2006 b 3,621,664
- --------------------------------------------------------------------------------------------------------------------
225,000 Port Authority NY/NJ, 111th Series 5.000 10/01/2022 s 10/01/2007 b 232,304
- --------------------------------------------------------------------------------------------------------------------
15,000 Port Authority NY/NJ, 119th Series 5.500 09/15/2019 09/15/2006 b 16,147
- --------------------------------------------------------------------------------------------------------------------
55,000 Port Authority NY/NJ, 87th Series 5.250 07/15/2015 07/15/2003 b 55,647
- --------------------------------------------------------------------------------------------------------------------
25,000 Port Authority NY/NJ, 87th Series 5.250 07/15/2016 07/15/2003 b 25,294
- --------------------------------------------------------------------------------------------------------------------
60,000 Port Authority NY/NJ, 87th Series 5.250 07/15/2021 07/15/2003 b 60,706
- --------------------------------------------------------------------------------------------------------------------
50,000 Port Authority NY/NJ, 87th Series 5.250 07/15/2021 07/15/2003 b 50,589
- --------------------------------------------------------------------------------------------------------------------
55,000 Port Authority NY/NJ, 89th Series 5.125 10/01/2021 10/01/2003 b 55,975
- --------------------------------------------------------------------------------------------------------------------
75,000 Port Authority NY/NJ, 91st Series 5.200 11/15/2020 11/15/2003 b 76,043
- --------------------------------------------------------------------------------------------------------------------
50,000 Port Authority NY/NJ, 92nd Series 5.625 07/15/2021 01/15/2004 b 51,454
- --------------------------------------------------------------------------------------------------------------------
200,000 Port Authority NY/NJ, 94th Series 6.000 12/01/2015 12/01/2004 b 213,564
- --------------------------------------------------------------------------------------------------------------------
10,000 Port Authority NY/NJ, 95th Series 5.700 07/15/2007 07/15/2004 b 10,439
- --------------------------------------------------------------------------------------------------------------------
10,000 Port Authority NY/NJ, 95th Series 6.000 07/15/2015 07/16/2006 b 10,477
- --------------------------------------------------------------------------------------------------------------------
5,000 Port Authority NY/NJ, 95th Series 6.125 07/15/2022 07/15/2004 b 5,245
- --------------------------------------------------------------------------------------------------------------------
240,000 Port Authority NY/NJ, 95th Series 6.125 07/15/2029 s 07/15/2004 b 251,633
- --------------------------------------------------------------------------------------------------------------------
3,300,000 Port Authority NY/NJ, 96th Series 6.600 10/01/2023 s 10/01/2004 b 3,504,468
- --------------------------------------------------------------------------------------------------------------------
10,000 Port Authority NY/NJ, 97th Series 6.500 07/15/2019 01/15/2005 b 10,677
33 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 10,000 Port Authority NY/NJ, 98th Series 5.000% 10/01/2014 10/01/2003 b $ 10,176
- --------------------------------------------------------------------------------------------------------------------
500,000 Port Chester CDC (Section 8 Hsg.),
Series A 5.500 08/01/2017 s 08/01/2013 b 525,375
- --------------------------------------------------------------------------------------------------------------------
45,000 Port Chester IDA (Nadel Industries) 6.750 02/01/2006 02/01/2006 b 48,260
- --------------------------------------------------------------------------------------------------------------------
25,000 Port Chester IDA (Nadel Industries) 7.000 02/01/2016 02/01/2008 a 29,060
- --------------------------------------------------------------------------------------------------------------------
1,720,000 Poughkeepsie IDA
(Eastman & Bixby Redevelopment Corp.) 5.900 08/01/2020 07/29/2009 g 1,863,878
- --------------------------------------------------------------------------------------------------------------------
870,000 Putnam County IDA (Brewster Plastics) 7.375 12/01/2008 08/13/2006 c 879,361
- --------------------------------------------------------------------------------------------------------------------
1,760,000 Rensselaer County Tobacco Asset
Securitization Corp. 5.200 06/01/2025 12/22/2008 c 1,542,851
- --------------------------------------------------------------------------------------------------------------------
135,000 Rensselaer Hsg. Authority (Renwyck) 7.650 01/01/2011 01/01/2004 b 139,319
- --------------------------------------------------------------------------------------------------------------------
395,000 Rensselaer Municipal Leasing Corp.
(Rensselaer County Nursing Home) 6.250 06/01/2004 05/31/2004 c 396,375
- --------------------------------------------------------------------------------------------------------------------
60,000 Rensselaer Municipal Leasing Corp.
(Rensselaer County Nursing Home) 6.900 06/01/2024 06/01/2006 b 61,643
- --------------------------------------------------------------------------------------------------------------------
1,700,000 Riverhead HDC (Riverpointe Apartments) 5.850 08/01/2010 10/12/2008 g 1,739,134
- --------------------------------------------------------------------------------------------------------------------
1,045,000 Rochester Hsg. Authority
(Crossroads Apartments) 7.300 07/01/2005 10/07/2004 c 1,056,182
- --------------------------------------------------------------------------------------------------------------------
6,000,000 Rochester Hsg. Authority
(Crossroads Apartments) 7.700 01/01/2017 s 12/01/2005 b 6,060,000
- --------------------------------------------------------------------------------------------------------------------
515,000 Rochester Hsg. Authority
(Stonewood Village) 5.900 09/01/2009 12/16/2005 g 515,052
- --------------------------------------------------------------------------------------------------------------------
11,200,000 Rockland County Tobacco Asset
Securitization Corp. 5.500 08/15/2025 06/12/2012 c 9,870,672
- --------------------------------------------------------------------------------------------------------------------
270,000 Rockland Gardens Hsg. Corp. 10.500 05/01/2011 11/01/2003 b 273,812
- --------------------------------------------------------------------------------------------------------------------
50,000 Rome GO 6.900 12/15/2007 12/15/2003 b 52,349
- --------------------------------------------------------------------------------------------------------------------
270,000 Rome Hsg. Corp. 7.000 01/01/2026 s 01/01/2004 b 273,102
- --------------------------------------------------------------------------------------------------------------------
225,000 Roxbury CSD GO 6.400 06/15/2010 06/15/2005 b 242,334
- --------------------------------------------------------------------------------------------------------------------
235,000 Roxbury CSD GO 6.400 06/15/2011 06/15/2005 b 252,005
- --------------------------------------------------------------------------------------------------------------------
1,010,000 Saratoga County IDA (Saratoga Sheraton) 6.750 12/31/2007 08/17/2005 c 999,789
- --------------------------------------------------------------------------------------------------------------------
4,918,000 Schenectady GO i 4.900 12/30/2003 12/30/2003 4,915,738
- --------------------------------------------------------------------------------------------------------------------
9,500,000 Schenectady GO i 4.900 12/30/2003 12/30/2003 9,495,630
- --------------------------------------------------------------------------------------------------------------------
220,000 Schuyler County IDA (Cargill) 7.900 04/01/2007 09/01/2003 b 225,984
- --------------------------------------------------------------------------------------------------------------------
25,000 Scotia GO 6.100 01/15/2012 07/15/2003 b 26,067
- --------------------------------------------------------------------------------------------------------------------
20,000 SONYMA Series 37-A 5.750 04/01/2005 06/06/2004 b 21,066
- --------------------------------------------------------------------------------------------------------------------
8,745,000 SONYMA, Series 24 6.050 04/01/2020 s 07/01/2010 b 9,280,806
- --------------------------------------------------------------------------------------------------------------------
30,000 SONYMA, Series 27 5.650 04/01/2015 s 10/01/2005 b 30,706
- --------------------------------------------------------------------------------------------------------------------
3,600,000 SONYMA, Series 27 5.800 10/01/2020 s 04/01/2010 b 3,864,024
- --------------------------------------------------------------------------------------------------------------------
130,000 SONYMA, Series 27 5.875 04/01/2030 s 04/01/2010 b 138,509
- --------------------------------------------------------------------------------------------------------------------
8,125,000 SONYMA, Series 29 5.400 10/01/2022 s 10/01/2010 b 8,495,906
- --------------------------------------------------------------------------------------------------------------------
50,000 SONYMA, Series 29-A 6.100 10/01/2015 04/01/2006 b 53,051
- --------------------------------------------------------------------------------------------------------------------
5,535,000 SONYMA, Series 29-C 5.600 04/01/2015 s 03/01/2006 b 5,692,360
- --------------------------------------------------------------------------------------------------------------------
175,000 SONYMA, Series 29-C 5.650 04/01/2015 10/01/2003 b 179,142
- --------------------------------------------------------------------------------------------------------------------
90,000 SONYMA, Series 30-C 5.500 04/01/2019 s 10/01/2003 b 91,805
- --------------------------------------------------------------------------------------------------------------------
140,000 SONYMA, Series 30-C 5.850 10/01/2025 s 10/01/2005 b 143,091
- --------------------------------------------------------------------------------------------------------------------
25,000 SONYMA, Series 30-C1 5.850 10/01/2025 10/01/2003 b 25,559
- --------------------------------------------------------------------------------------------------------------------
65,000 SONYMA, Series 30-C2 5.800 10/01/2025 02/01/2006 b 66,560
- --------------------------------------------------------------------------------------------------------------------
34 LIMITED TERM NEW YORK MUNICIPAL FUND
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 25,000 SONYMA, Series 33 5.400% 10/01/2017 03/01/2004 b $ 25,772
- --------------------------------------------------------------------------------------------------------------------
10,000 SONYMA, Series 34 5.550 09/30/2025 s 03/01/2006 b 10,189
- --------------------------------------------------------------------------------------------------------------------
100,000 SONYMA, Series 39 5.750 10/01/2010 s 04/01/2006 b 103,480
- --------------------------------------------------------------------------------------------------------------------
260,000 SONYMA, Series 39 6.000 10/01/2017 s 04/01/2006 b 268,284
- --------------------------------------------------------------------------------------------------------------------
210,000 SONYMA, Series 40B 6.400 10/01/2012 s 08/01/2004 b 217,062
- --------------------------------------------------------------------------------------------------------------------
45,000 SONYMA, Series 41-A 6.050 10/01/2007 06/01/2004 b 47,083
- --------------------------------------------------------------------------------------------------------------------
125,000 SONYMA, Series 41-B 6.250 10/01/2014 s 08/01/2006 b 129,961
- --------------------------------------------------------------------------------------------------------------------
20,000 SONYMA, Series 43 6.100 04/01/2009 09/01/2004 b 20,978
- --------------------------------------------------------------------------------------------------------------------
50,000 SONYMA, Series 48 6.000 04/01/2013 06/29/2007 b 52,490
- --------------------------------------------------------------------------------------------------------------------
20,000 SONYMA, Series 48 6.000 04/01/2013 s 06/29/2007 b 20,996
- --------------------------------------------------------------------------------------------------------------------
115,000 SONYMA, Series 48 6.050 04/01/2017 s 06/29/2007 b 120,360
- --------------------------------------------------------------------------------------------------------------------
190,000 SONYMA, Series 48 6.100 04/01/2025 s 06/29/2007 b 198,263
- --------------------------------------------------------------------------------------------------------------------
120,000 SONYMA, Series 48 6.100 04/01/2025 s 06/29/2007 b 125,219
- --------------------------------------------------------------------------------------------------------------------
250,000 SONYMA, Series 49 5.800 10/01/2013 06/29/2005 b 262,508
- --------------------------------------------------------------------------------------------------------------------
510,000 SONYMA, Series 50 6.250 04/01/2010 09/13/2007 b 527,024
- --------------------------------------------------------------------------------------------------------------------
95,000 SONYMA, Series 51 6.400 10/01/2017 s 09/13/2007 b 98,870
- --------------------------------------------------------------------------------------------------------------------
2,360,000 SONYMA, Series 52 6.100 04/01/2026 s 01/04/2008 b 2,474,342
- --------------------------------------------------------------------------------------------------------------------
35,000 SONYMA, Series 52 6.100 04/01/2026 s 01/04/2006 b 36,747
- --------------------------------------------------------------------------------------------------------------------
50,000 SONYMA, Series 53 5.750 10/01/2011 s 01/04/2008 b 53,140
- --------------------------------------------------------------------------------------------------------------------
15,000 SONYMA, Series 53 5.900 10/01/2017 01/04/2006 b 15,845
- --------------------------------------------------------------------------------------------------------------------
365,000 SONYMA, Series 54 6.100 10/01/2015 04/01/2006 b 387,269
- --------------------------------------------------------------------------------------------------------------------
35,000 SONYMA, Series 54 6.200 10/01/2026 s 04/01/2008 b 37,770
- --------------------------------------------------------------------------------------------------------------------
25,000 SONYMA, Series 54 6.200 10/01/2026 s 04/01/2008 b 26,979
- --------------------------------------------------------------------------------------------------------------------
50,000 SONYMA, Series 55 5.950 10/01/2017 s 04/01/2006 b 53,601
- --------------------------------------------------------------------------------------------------------------------
65,000 SONYMA, Series 56 5.875 10/01/2019 s 07/01/2008 b 65,627
- --------------------------------------------------------------------------------------------------------------------
75,000 SONYMA, Series 60 6.000 10/01/2022 s 01/01/2009 b 79,465
- --------------------------------------------------------------------------------------------------------------------
3,015,000 SONYMA, Series 60 6.050 04/01/2026 01/01/2009 b 3,187,850
- --------------------------------------------------------------------------------------------------------------------
115,000 SONYMA, Series 63 6.000 04/01/2017 s 04/01/2009 b 122,668
- --------------------------------------------------------------------------------------------------------------------
10,000 SONYMA, Series 64 5.800 10/01/2017 04/01/2007 b 10,699
- --------------------------------------------------------------------------------------------------------------------
50,000 SONYMA, Series 64 5.900 10/01/2027 s 04/01/2009 b 52,937
- --------------------------------------------------------------------------------------------------------------------
5,000 SONYMA, Series 66 5.600 10/01/2017 07/01/2007 b 5,332
- --------------------------------------------------------------------------------------------------------------------
100,000 SONYMA, Series 67 5.600 10/01/2014 s 09/01/2009 b 106,164
- --------------------------------------------------------------------------------------------------------------------
1,040,000 SONYMA, Series 67 5.700 10/01/2017 s 09/01/2007 b 1,115,452
- --------------------------------------------------------------------------------------------------------------------
185,000 SONYMA, Series 67 5.800 10/01/2028 s 09/01/2009 b 199,500
- --------------------------------------------------------------------------------------------------------------------
570,000 SONYMA, Series 70 5.375 10/01/2017 s 03/01/2010 b 601,424
- --------------------------------------------------------------------------------------------------------------------
325,000 SONYMA, Series 73-B 5.450 10/01/2024 s 09/30/2009 b 340,438
- --------------------------------------------------------------------------------------------------------------------
5,000 SONYMA, Series 73-B 5.850 10/01/2018 09/30/2009 b 5,359
- --------------------------------------------------------------------------------------------------------------------
1,025,000 SONYMA, Series 78-B 5.900 10/01/2015 11/23/2009 b 1,125,501
- --------------------------------------------------------------------------------------------------------------------
140,000 SONYMA, Series 80 5.100 10/01/2017 s 03/01/2009 b 147,809
- --------------------------------------------------------------------------------------------------------------------
5,000,000 SONYMA, Series 82 5.550 10/01/2019 s 10/01/2009 b 5,269,050
- --------------------------------------------------------------------------------------------------------------------
25,000,000 SONYMA, Series 83 5.450 04/01/2018 s 10/01/2009 b 26,581,000
- --------------------------------------------------------------------------------------------------------------------
45,000 SONYMA, Series 83 5.550 10/01/2027 10/01/2009 b 47,200
- --------------------------------------------------------------------------------------------------------------------
120,000 SONYMA, Series 84 5.900 04/01/2022 s 09/01/2009 b 129,127
- --------------------------------------------------------------------------------------------------------------------
8,530,000 SONYMA, Series 84 5.950 04/01/2030 s 09/01/2009 b 9,033,782
- --------------------------------------------------------------------------------------------------------------------
1,755,000 SONYMA, Series 86 5.950 10/01/2020 s 09/01/2009 b 1,921,181
35 | LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 35,000 SONYMA, Series 88 6.250% 04/01/2030 11/01/2009 b $ 37,891
- --------------------------------------------------------------------------------------------------------------------
2,290,000 SONYMA, Series 90 5.750 10/01/2021 10/01/2004 c 2,345,120
- --------------------------------------------------------------------------------------------------------------------
19,980,000 SONYMA, Series 94 5.900 10/01/2030 s 04/01/2010 b 21,197,781
- --------------------------------------------------------------------------------------------------------------------
2,000,000 SONYMA, Series 95 5.500 10/01/2017 s 04/01/2010 b 2,153,180
- --------------------------------------------------------------------------------------------------------------------
6,100,000 SONYMA, Series 97 5.400 10/01/2021 s 04/01/2011 b 6,418,786
- --------------------------------------------------------------------------------------------------------------------
90,000 Springville HDC (Springbrook) 5.950 01/01/2010 06/04/2007 g 93,128
- --------------------------------------------------------------------------------------------------------------------
940,000 St. Casimer's EHC 7.375 09/01/2010 s 09/01/2003 b 953,865
- --------------------------------------------------------------------------------------------------------------------
620,000 St. Lawrence IDA (PACES) 5.875 06/30/2007 01/27/2006 c 611,153
- --------------------------------------------------------------------------------------------------------------------
35,000 Suffolk County GO 5.000 10/15/2020 10/15/2005 b 36,015
- --------------------------------------------------------------------------------------------------------------------
660,000 Suffolk County IDA (ACLD) 5.750 03/01/2006 03/12/2005 c 645,407
- --------------------------------------------------------------------------------------------------------------------
940,000 Suffolk County IDA (ALIA--CCDRCA) 7.000 06/01/2016 04/17/2010 g 976,237
- --------------------------------------------------------------------------------------------------------------------
1,135,000 Suffolk County IDA (ALIA--FREE) 7.000 06/01/2016 05/06/2011 c 1,178,754
- --------------------------------------------------------------------------------------------------------------------
535,000 Suffolk County IDA (ALIA--WORCA) 7.000 06/01/2016 05/01/2011 c 555,624
- --------------------------------------------------------------------------------------------------------------------
25,000 Suffolk County IDA (Dowling College) 6.400 12/01/2005 12/01/2005 25,704
- --------------------------------------------------------------------------------------------------------------------
240,000 Suffolk County IDA (Dowling College) 6.500 12/01/2006 12/01/2006 246,286
- --------------------------------------------------------------------------------------------------------------------
50,000 Suffolk County IDA (Dowling College) 6.625 06/01/2024 12/29/2016 c 49,884
- --------------------------------------------------------------------------------------------------------------------
1,595,000 Suffolk County IDA
(Huntington First Aid Squad) 6.025 11/01/2008 07/03/2006 c 1,617,793
- --------------------------------------------------------------------------------------------------------------------
290,000 Suffolk County IDA
(Mattituck-Laurel Library) 6.000 09/01/2019 s 09/01/2010 b 338,407
- --------------------------------------------------------------------------------------------------------------------
165,000 Suffolk County IDA
(Peconic Landing Retirement Home) 7.000 10/01/2030 10/01/2005 b 165,416
- --------------------------------------------------------------------------------------------------------------------
360,000 Suffolk County IDA
(Rimland Facilities) i 3.188 v 12/01/2004 06/11/2004 c 359,424
- --------------------------------------------------------------------------------------------------------------------
165,000 Suffolk County Water Authority 5.000 06/01/2017 06/01/2005 b 168,684
- --------------------------------------------------------------------------------------------------------------------
100,000 Suffolk County Water Authority 5.750 06/01/2010 12/01/2003 b 102,554
- --------------------------------------------------------------------------------------------------------------------
30,000 Sullivan County GO 5.100 03/15/2011 03/15/2004 b 30,992
- --------------------------------------------------------------------------------------------------------------------
2,040,000 Sunnybrook EHC 11.250 12/01/2014 s 10/01/2003 b 2,150,588
- --------------------------------------------------------------------------------------------------------------------
40,000 Syracuse GO, Series A 6.000 02/01/2014 s 02/01/2004 b 41,986
- --------------------------------------------------------------------------------------------------------------------
75,000 Syracuse GO, Series B 6.000 02/01/2009 02/01/2004 b 78,452
- --------------------------------------------------------------------------------------------------------------------
2,470,000 Syracuse IDA
(Crouse Irving Health Hospital) i 5.125 01/01/2009 08/26/2006 c 1,295,466
- --------------------------------------------------------------------------------------------------------------------
185,000 Syracuse IDA
(One Center Armory Garage) 6.750 12/01/2017 12/01/2004 b 189,708
- --------------------------------------------------------------------------------------------------------------------
1,025,000 Syracuse SCHC
(East Hill Village Apartments) 6.125 11/01/2010 08/23/2007 c 1,020,418
- --------------------------------------------------------------------------------------------------------------------
1,430,000 Tompkins County IDA (Kendal at Ithaca) 7.700 06/01/2011 12/01/2003 b 1,493,792
- --------------------------------------------------------------------------------------------------------------------
245,000 Tompkins County IDA (Kendal at Ithaca) 7.875 06/01/2015 s 06/01/2005 b 255,929
- --------------------------------------------------------------------------------------------------------------------
4,035,000 Tompkins County IDA (Kendal at Ithaca) 7.875 06/01/2024 s 12/01/2003 b 4,215,001
- --------------------------------------------------------------------------------------------------------------------
290,000 Tompkins Healthcare Corp.
(Reconstruction Home) 10.800 02/01/2028 s 02/01/2005 b 336,151
- --------------------------------------------------------------------------------------------------------------------
2,935,000 Tonawanda HDC (Tonawanda Towers) 6.150 10/01/2011 08/26/2007 g 3,062,849
- --------------------------------------------------------------------------------------------------------------------
700,000 TSASC, Inc. (TFABs) 5.000 07/15/2008 07/15/2003 e 705,754
- --------------------------------------------------------------------------------------------------------------------
500,000 TSASC, Inc. (TFABs) 5.125 07/15/2009 07/15/2004 e 499,885
- --------------------------------------------------------------------------------------------------------------------
2,325,000 TSASC, Inc. (TFABs) 5.250 07/15/2011 07/15/2005 e 2,317,095
- --------------------------------------------------------------------------------------------------------------------
150,000 TSASC, Inc. (TFABs) 5.375 07/15/2011 07/15/2006 e 150,267
- --------------------------------------------------------------------------------------------------------------------
2,440,000 TSASC, Inc. (TFABs) 5.375 07/15/2012 07/15/2006 e 2,446,856
36 LIMITED TERM NEW YORK MUNICIPAL FUND
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$ 2,825,000 TSASC, Inc. (TFABs) 5.500% 07/15/2013 07/15/2007 e $ 2,836,159
- --------------------------------------------------------------------------------------------------------------------
50,425,000 TSASC, Inc. (TFABs) 5.500 07/15/2024 10/22/2011 c 45,723,373
- --------------------------------------------------------------------------------------------------------------------
2,800,000 TSASC, Inc. (TFABs) 5.700 07/15/2014 07/15/2009 e 2,775,528
- --------------------------------------------------------------------------------------------------------------------
1,645,000 TSASC, Inc. (TFABs) 5.875 07/15/2016 07/15/2010 e 1,619,091
- --------------------------------------------------------------------------------------------------------------------
3,500,000 TSASC, Inc. (TFABs) 5.900 07/15/2017 07/15/2011 e 3,428,040
- --------------------------------------------------------------------------------------------------------------------
575,000 TSASC, Inc. (TFABs) 6.000 07/15/2018 07/15/2011 e 568,261
- --------------------------------------------------------------------------------------------------------------------
2,070,000 TSASC, Inc. (TFABs) 6.000 07/15/2018 07/15/2012 e 2,065,881
- --------------------------------------------------------------------------------------------------------------------
4,425,000 TSASC, Inc. (TFABs) 6.000 07/15/2019 07/15/2012 e 4,371,059
- --------------------------------------------------------------------------------------------------------------------
4,420,000 TSASC, Inc. (TFABs) 6.000 07/15/2019 07/15/2013 e 4,366,120
- --------------------------------------------------------------------------------------------------------------------
4,895,000 TSASC, Inc. (TFABs) 6.000 07/15/2020 07/15/2013 e 4,782,660
- --------------------------------------------------------------------------------------------------------------------
2,115,000 TSASC, Inc. (TFABs) 6.000 07/15/2020 07/15/2014 e 2,066,461
- --------------------------------------------------------------------------------------------------------------------
2,030,000 TSASC, Inc. (TFABs) 6.000 07/15/2021 07/15/2014 e 1,962,706
- --------------------------------------------------------------------------------------------------------------------
45,940,000 TSASC, Inc. (TFABs) 6.250 07/15/2027 07/15/2019 e 43,954,933
- --------------------------------------------------------------------------------------------------------------------
17,960,000 TSASC, Inc. (TFABs) 6.250 07/15/2034 s 07/15/2024 e 17,176,944
- --------------------------------------------------------------------------------------------------------------------
63,445,000 TSASC, Inc. (TFABs) 6.375 07/15/2039 s 07/15/2029 e 61,648,872
- --------------------------------------------------------------------------------------------------------------------
85,000 Tupper Lake HDC 8.125 10/01/2010 10/01/2003 b 86,052
- --------------------------------------------------------------------------------------------------------------------
690,000 Ulster County IDA
(Benedictine Hospital) 6.050 06/01/2005 12/05/2004 c 688,234
- --------------------------------------------------------------------------------------------------------------------
880,000 Ulster County Tobacco Asset
Securitization Corp. 6.000 06/01/2040 06/01/2031 c 792,669
- --------------------------------------------------------------------------------------------------------------------
10,235,000 Ulster County Tobacco Asset
Securitization Corp. 6.750 06/01/2030 s 06/01/2012 b 10,249,124
- --------------------------------------------------------------------------------------------------------------------
280,000 Union Hsg. Authority (Methodist Homes) 6.800 11/01/2004 11/01/2003 b 281,873
- --------------------------------------------------------------------------------------------------------------------
2,050,000 United Nations Devel. Corp., Series B 5.300 07/01/2010 01/01/2004 b 2,053,506
- --------------------------------------------------------------------------------------------------------------------
25,000 United Nations Devel. Corp., Series B 5.300 07/01/2011 01/01/2004 b 25,037
- --------------------------------------------------------------------------------------------------------------------
350,000 United Nations Devel. Corp., Series C 5.500 07/01/2017 s 01/01/2004 b 358,820
- --------------------------------------------------------------------------------------------------------------------
15,000 Upper Mohawk Valley Regional
Water Finance Authority 5.125 10/01/2016 10/01/2007 b 16,376
- --------------------------------------------------------------------------------------------------------------------
295,000 Utica GO 6.200 01/15/2014 01/15/2010 b 335,763
- --------------------------------------------------------------------------------------------------------------------
320,000 Utica GO 6.250 01/15/2015 01/15/2010 b 364,179
- --------------------------------------------------------------------------------------------------------------------
315,000 Utica IDA (Utica College Civic Facility) 5.300 08/01/2008 06/29/2005 c 320,954
- --------------------------------------------------------------------------------------------------------------------
2,155,000 Utica IDA (Utica College Civic Facility) 6.375 12/01/2011 09/23/2008 c 2,182,821
- --------------------------------------------------------------------------------------------------------------------
75,000 Utica SCHC (Steinhorst Apartments) 6.500 04/15/2008 08/08/2005 g 79,541
- --------------------------------------------------------------------------------------------------------------------
30,000 Valley Health Development Corp. 6.750 05/20/2022 05/20/2010 b 34,390
- --------------------------------------------------------------------------------------------------------------------
50,000 Westchester County GO 6.850 11/15/2014 11/15/2004 b 53,765
- --------------------------------------------------------------------------------------------------------------------
300,000 Westchester County IDA
(Beth Abraham Hospital) 7.250 12/01/2009 03/26/2007 c 310,893
- --------------------------------------------------------------------------------------------------------------------
170,000 Westchester County IDA (JDAM) 6.250 04/01/2005 10/06/2004 c 172,587
- --------------------------------------------------------------------------------------------------------------------
70,000 Westchester County IDA (JDAM) 6.500 04/01/2009 s 04/01/2006 b 71,964
- --------------------------------------------------------------------------------------------------------------------
1,130,000 Westchester County IDA (JDAM) 6.750 04/01/2016 s 04/01/2006 b 1,200,184
- --------------------------------------------------------------------------------------------------------------------
2,330,000 Westchester County IDA
(Rippowam-Cisqua School) 5.750 06/01/2029 10/21/2010 g 2,402,300
- --------------------------------------------------------------------------------------------------------------------
330,000 Westchester County IDA
(Westchester Airport) 5.950 08/01/2024 s 08/01/2003 b 334,455
- --------------------------------------------------------------------------------------------------------------------
100,000 Westchester County IDA (WRC) 5.500 07/01/2009 07/01/2008 b 106,446
- --------------------------------------------------------------------------------------------------------------------
18,000,000 Westchester County Tobacco Asset
Securitization Corp. 0.000 v 07/15/2039 s 07/15/2018 b 12,366,720
37 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
New York Continued
$13,000,000 Westchester County Tobacco Asset
Securitization Corp. 6.750% 07/15/2029 s 07/15/2011 b $ 13,017,810
- --------------------------------------------------------------------------------------------------------------------
260,000 Yonkers IDA
(Community Devel. Properties) 6.250 02/01/2016 11/12/2010 g 283,980
- --------------------------------------------------------------------------------------------------------------------
3,140,000 Yonkers IDA
(Community Devel. Properties) 6.625 02/01/2026 s 02/01/2011 b 3,385,768
- --------------------------------------------------------------------------------------------------------------------
1,135,000 Yonkers IDA (Hudson Scenic Studio) 5.875 11/01/2007 12/14/2005 c 1,097,534
- --------------------------------------------------------------------------------------------------------------------
240,000 Yonkers IDA
(Michael Malotz Skilled Nursing
Pavilion) 5.450 02/01/2029 02/01/2009 b 254,122
- --------------------------------------------------------------------------------------------------------------------
145,000 Yonkers IDA (Philipsburgh Hall
Associates) 6.750 11/01/2008 07/23/2006 c 146,077
- --------------------------------------------------------------------------------------------------------------------
2,750,000 Yonkers IDA (St. John's Riverside
Hospital) 6.800 07/01/2016 02/25/2010 g 2,792,460
- --------------------------------------------------------------------------------------------------------------------
1,000,000 Yonkers IDA (St. Joseph's Hospital),
Series 98-B 5.900 03/01/2008 03/01/2006 c 932,920
--------------
2,809,424,585
- --------------------------------------------------------------------------------------------------------------------
Other States--1.8%
3,000,000 FL Gateway Services Community
Devel. District Special Assessment
(Sun City Center) 5.500 05/01/2010 07/20/2005 c 2,997,210
- --------------------------------------------------------------------------------------------------------------------
7,875,000 Humboldt County, NV Pollution Control
(Idaho Power Company) 8.300 12/01/2014 12/01/2003 b 8,331,592
- --------------------------------------------------------------------------------------------------------------------
20,715,000 Lake Charles, LA Harbor & Terminal
District Port Facilities
(Duke Energy Corp.) 7.750 08/15/2022 08/15/2003 b 21,547,743
- --------------------------------------------------------------------------------------------------------------------
1,000,000 Lawrenceburg, IN Pollution Control
(Indiana Michigan Power Company) 7.000 04/01/2015 10/01/2003 b 1,012,120
- --------------------------------------------------------------------------------------------------------------------
1,700,000 McMinn County, TN IDB Pollution Control
(Calhoun Newsprint) 7.625 03/01/2016 03/01/2016 1,699,796
- --------------------------------------------------------------------------------------------------------------------
150,000 NH HE&H Facilities Authority
(Elliot Hospital of Manchester) 6.250 10/01/2021 s 10/01/2003 b 151,499
- --------------------------------------------------------------------------------------------------------------------
2,000,000 NJ EDA (Jersey Central Power & Light) 7.100 07/01/2015 01/01/2004 b 2,103,400
- --------------------------------------------------------------------------------------------------------------------
22,215,000 NJ Tobacco Settlement Financing Corp.
(TASC) 5.750 06/01/2032 06/15/2011 c 19,580,745
- --------------------------------------------------------------------------------------------------------------------
1,950,000 St. Charles Parish, LA
(Louisiana Power & Light Company) 7.500 06/01/2021 12/01/2003 b 1,959,965
--------------
59,384,070
- --------------------------------------------------------------------------------------------------------------------
U.S. Possessions--14.2%
410,000 Guam Airport Authority, Series A 6.500 10/01/2023 s 10/01/2003 b 419,614
- --------------------------------------------------------------------------------------------------------------------
11,800,000 Guam Airport Authority, Series B 6.400 10/01/2005 10/01/2003 b 12,108,452
- --------------------------------------------------------------------------------------------------------------------
15,975,000 Guam Airport Authority, Series B 6.600 10/01/2010 s 10/01/2003 b 16,369,582
- --------------------------------------------------------------------------------------------------------------------
50,180,000 Guam Airport Authority, Series B 6.700 10/01/2023 s 10/01/2003 b 51,498,730
- --------------------------------------------------------------------------------------------------------------------
785,000 Guam EDA (TASC) 5.000 05/15/2022 09/26/2005 c 770,752
- --------------------------------------------------------------------------------------------------------------------
1,950,000 Guam EDA (TASC) 5.400 05/15/2031 07/14/2010 c 1,725,126
- --------------------------------------------------------------------------------------------------------------------
7,225,000 Guam GO, Series A 5.375 11/15/2013 12/23/2011 c 7,184,829
- --------------------------------------------------------------------------------------------------------------------
3,630,000 Guam GO, Series A 5.700 09/01/2003 09/01/2003 3,629,383
- --------------------------------------------------------------------------------------------------------------------
5,250,000 Guam GO, Series A 5.750 09/01/2004 09/01/2004 5,247,480
- --------------------------------------------------------------------------------------------------------------------
7,530,000 Guam GO, Series A 5.900 09/01/2005 09/01/2005 7,523,976
- --------------------------------------------------------------------------------------------------------------------
1,000,000 Guam GO, Series A 6.000 09/01/2006 09/01/2006 998,900
- --------------------------------------------------------------------------------------------------------------------
580,000 Guam Power Authority, Series A 5.250 10/01/2013 10/01/2005 b 592,760
38 LIMITED TERM NEW YORK MUNICIPAL FUND
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
U.S. Possessions Continued
$ 475,000 Guam Power Authority, Series A 5.250% 10/01/2023 10/01/2003 b $ 487,721
- --------------------------------------------------------------------------------------------------------------------
85,000 Northern Mariana Islands, Series A 6.000 06/01/2014 s 06/01/2010 b 93,968
- --------------------------------------------------------------------------------------------------------------------
3,000,000 Northern Mariana Islands, Series A 6.000 06/01/2020 s 06/01/2010 b 3,217,920
- --------------------------------------------------------------------------------------------------------------------
119,340,000 Puerto Rico Children's Trust
Fund (TASC) 5.375 05/15/2033 01/27/2012 c 108,244,960
- --------------------------------------------------------------------------------------------------------------------
25,000 Puerto Rico Children's Trust Fund
(TASC) 5.750 07/01/2020 01/30/2008 c 28,053
- --------------------------------------------------------------------------------------------------------------------
740,000 Puerto Rico Children's Trust
Fund (TASC) 6.000 07/01/2026 s 07/01/2010 a 898,552
- --------------------------------------------------------------------------------------------------------------------
486,915 Puerto Rico Dept. of Corrections
Furniture Lease i,u 7.000 04/25/2004 01/26/2004 c 486,506
- --------------------------------------------------------------------------------------------------------------------
10,000 Puerto Rico Electric Power Authority,
Series EE 5.250 07/01/2014 07/01/2008 b 11,357
- --------------------------------------------------------------------------------------------------------------------
50,000 Puerto Rico Electric Power Authority,
Series T 5.500 07/01/2020 s 07/01/2004 b 52,278
- --------------------------------------------------------------------------------------------------------------------
25,000 Puerto Rico Electric Power Authority,
Series T 6.000 07/01/2016 s 07/01/2004 b 26,759
- --------------------------------------------------------------------------------------------------------------------
30,000 Puerto Rico Electric Power Authority,
Series T 6.000 07/01/2016 s 07/01/2004 b 32,111
- --------------------------------------------------------------------------------------------------------------------
1,990,000 Puerto Rico Electric Power Authority,
Series U 6.000 07/01/2014 s 07/01/2004 b 2,108,883
- --------------------------------------------------------------------------------------------------------------------
75,000 Puerto Rico Electric Power Authority,
Series X 5.500 07/01/2025 s 07/01/2005 b 77,658
- --------------------------------------------------------------------------------------------------------------------
1,880,000 Puerto Rico Electric Power Authority,
Series Z 5.250 07/01/2021 s 07/01/2005 b 1,956,572
- --------------------------------------------------------------------------------------------------------------------
35,000 Puerto Rico Electric Power Authority,
Series Z 5.250 07/01/2021 07/01/2005 b 36,988
- --------------------------------------------------------------------------------------------------------------------
1,425,000 Puerto Rico Electric Power Authority,
Series Z 5.500 07/01/2010 07/01/2005 b 1,557,539
- --------------------------------------------------------------------------------------------------------------------
50,000 Puerto Rico Electric Power Authority,
Series Z 5.500 07/01/2014 07/01/2005 b 54,121
- --------------------------------------------------------------------------------------------------------------------
90,000 Puerto Rico Electric Power Authority,
Series Z 5.500 07/01/2016 s 07/01/2005 b 97,418
- --------------------------------------------------------------------------------------------------------------------
100,000 Puerto Rico GO 5.000 07/01/2019 07/01/2006 b 102,555
- --------------------------------------------------------------------------------------------------------------------
5,000,000 Puerto Rico GO 5.250 07/01/2027 s 07/01/2011 b 5,362,850
- --------------------------------------------------------------------------------------------------------------------
70,000 Puerto Rico GO 5.375 07/01/2021 07/01/2007 b 80,792
- --------------------------------------------------------------------------------------------------------------------
135,000 Puerto Rico GO 5.375 07/01/2022 s 07/01/2005 b 148,111
- --------------------------------------------------------------------------------------------------------------------
30,000 Puerto Rico GO 5.375 07/01/2025 07/01/2007 b 34,205
- --------------------------------------------------------------------------------------------------------------------
90,000 Puerto Rico GO 5.375 07/01/2025 07/01/2007 b 102,615
- --------------------------------------------------------------------------------------------------------------------
4,130,000 Puerto Rico GO 5.375 07/01/2028 07/01/2011 b 4,341,704
- --------------------------------------------------------------------------------------------------------------------
55,000 Puerto Rico HBFA 5.850 10/01/2009 04/01/2007 b 58,140
- --------------------------------------------------------------------------------------------------------------------
470,000 Puerto Rico HBFA 6.100 10/01/2015 04/01/2007 b 492,414
- --------------------------------------------------------------------------------------------------------------------
480,000 Puerto Rico HBFA 6.250 04/01/2029 s 04/01/2007 b 500,107
- --------------------------------------------------------------------------------------------------------------------
1,403,611 Puerto Rico Health Dept.
Equipment Lease i,u 7.099 07/23/2003 07/23/2003 1,403,261
- --------------------------------------------------------------------------------------------------------------------
90,000 Puerto Rico HFC 5.100 12/01/2018 12/01/2010 b 93,813
- --------------------------------------------------------------------------------------------------------------------
65,000 Puerto Rico HFC 7.250 10/01/2004 10/01/2003 b 65,244
- --------------------------------------------------------------------------------------------------------------------
100,000 Puerto Rico HFC 7.300 04/01/2006 10/01/2003 b 100,337
- --------------------------------------------------------------------------------------------------------------------
85,000 Puerto Rico HFC 7.300 10/01/2006 10/01/2003 b 85,281
- --------------------------------------------------------------------------------------------------------------------
35,000 Puerto Rico HFC 7.400 04/01/2007 10/01/2003 b 35,108
- --------------------------------------------------------------------------------------------------------------------
2,690,000 Puerto Rico HFC 7.500 10/01/2015 s 10/01/2003 b 2,695,030
- --------------------------------------------------------------------------------------------------------------------
5,420,000 Puerto Rico HFC 7.500 04/01/2022 s 10/01/2003 b 5,495,880
39 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
U.S. Possessions Continued
$ 7,000,000 Puerto Rico Highway &
Transportation Authority, Series E 5.750% 07/01/2024 07/01/2012 b $ 7,726,320
- --------------------------------------------------------------------------------------------------------------------
40,000 Puerto Rico Highway &
Transportation Authority, Series X 5.000 07/01/2022 01/01/2004 b 40,694
- --------------------------------------------------------------------------------------------------------------------
175,000 Puerto Rico Highway &
Transportation Authority, Series Y 5.500 07/01/2026 07/01/2006 b 198,461
- --------------------------------------------------------------------------------------------------------------------
100,000 Puerto Rico Highway &
Transportation Authority, Series Y 5.500 07/01/2018 07/01/2006 b 107,484
- --------------------------------------------------------------------------------------------------------------------
200,000 Puerto Rico IMEPCF
(American Home Products) 5.100 12/01/2018 12/01/2008 b 206,388
- --------------------------------------------------------------------------------------------------------------------
6,275,000 Puerto Rico IMEPCF (PepsiCo) 6.250 11/15/2013 11/15/2003 b 6,598,476
- --------------------------------------------------------------------------------------------------------------------
7,175,000 Puerto Rico IMEPCF (PepsiCo) 6.250 11/15/2013 11/15/2003 b 7,413,712
- --------------------------------------------------------------------------------------------------------------------
10,000 Puerto Rico Infrastructure 5.000 07/01/2016 01/01/2008 b 10,951
- --------------------------------------------------------------------------------------------------------------------
1,670,000 Puerto Rico Infrastructure 7.500 07/01/2009 s 01/01/2004 b 1,706,490
- --------------------------------------------------------------------------------------------------------------------
55,000 Puerto Rico ITEMECF
(Ana G. Mendez University) 5.375 02/01/2019 02/01/2009 b 57,296
- --------------------------------------------------------------------------------------------------------------------
16,525,000 Puerto Rico ITEMECF
(Congeneration Facilities) 6.625 06/01/2026 s 06/01/2010 b 17,420,655
- --------------------------------------------------------------------------------------------------------------------
750,000 Puerto Rico ITEMECF
(Hospital de la Concepcion) 6.375 11/15/2015 11/15/2010 b 864,975
- --------------------------------------------------------------------------------------------------------------------
2,000,000 Puerto Rico ITEMECF
(Hospital de la Concepcion) 6.500 11/15/2020 11/15/2010 b 2,304,440
- --------------------------------------------------------------------------------------------------------------------
1,540,000 Puerto Rico ITEMECF
(Mennonite General Hospital) 6.375 07/01/2006 07/15/2005 c 1,548,116
- --------------------------------------------------------------------------------------------------------------------
1,915,000 Puerto Rico ITEMECF
(Mennonite General Hospital) 6.500 07/01/2012 12/15/2009 c 1,904,716
- --------------------------------------------------------------------------------------------------------------------
955,000 Puerto Rico ITEMECF
(Polytechnic University of Puerto Rico) 5.700 08/01/2013 08/01/2005 b 977,930
- --------------------------------------------------------------------------------------------------------------------
1,045,000 Puerto Rico ITEMECF
(Ryder Memorial Hospital) 6.400 05/01/2009 05/01/2004 b 1,075,357
- --------------------------------------------------------------------------------------------------------------------
1,075,000 Puerto Rico Municipal Finance
Agency RITES i 10.326 r 08/01/2013 02/01/2009 b 1,458,700
- --------------------------------------------------------------------------------------------------------------------
50,000 Puerto Rico Municipal Finance
Agency, Series A 5.500 07/01/2021 07/01/2007 b 55,444
- --------------------------------------------------------------------------------------------------------------------
279,882 Puerto Rico Natural Resources
Dept. Equipment Lease i 7.250 10/26/2003 10/26/2003 279,907
- --------------------------------------------------------------------------------------------------------------------
140,000 Puerto Rico Port Authority, Series C 7.300 07/01/2007 s 01/01/2004 b 142,926
- --------------------------------------------------------------------------------------------------------------------
120,000 Puerto Rico Port Authority, Series D 6.000 07/01/2021 s 01/01/2004 b 122,916
- --------------------------------------------------------------------------------------------------------------------
465,000 Puerto Rico Port Authority, Series D 7.000 07/01/2014 s 01/01/2004 b 479,322
- --------------------------------------------------------------------------------------------------------------------
50,000 Puerto Rico Public Building Authority,
Series M 5.500 07/01/2021 01/01/2004 a 51,386
- --------------------------------------------------------------------------------------------------------------------
15,000 Puerto Rico Public Buildings Authority,
Series A 5.500 07/01/2021 07/01/2005 a 16,494
- --------------------------------------------------------------------------------------------------------------------
35,000 Puerto Rico Public Buildings Authority,
Series A 5.500 07/01/2025 07/01/2005 a 38,486
- --------------------------------------------------------------------------------------------------------------------
5,000 Puerto Rico Public Buildings Authority,
Series B 5.250 07/01/2021 07/01/2007 b 5,183
- --------------------------------------------------------------------------------------------------------------------
5,000,000 Puerto Rico Public Finance Corp.,
Series A 5.375 08/01/2024 08/01/2011 b 5,455,300
- --------------------------------------------------------------------------------------------------------------------
1,000,000 Puerto Rico Public Finance Corp.,
Series E 5.500 08/01/2029 02/01/2012 b 1,062,840
40 LIMITED TERM NEW YORK MUNICIPAL FUND
Principal Effective Market Value
Amount Coupon Maturity Maturity* See Note 1
- --------------------------------------------------------------------------------------------------------------------
U.S. Possessions Continued
$35,400,000 Puerto Rico Public Finance Corp.,
Series E 5.700% 08/01/2025 02/01/2010 b $37,865,256
- --------------------------------------------------------------------------------------------------------------------
64,220,000 Puerto Rico Public Finance Corp.,
Series E 5.750 08/01/2030 02/01/2007 b 69,956,773
- --------------------------------------------------------------------------------------------------------------------
705,000 Puerto Rico Urban Renewal & Hsg. Corp. 7.875 10/01/2004 s 10/01/2003 b 723,189
- --------------------------------------------------------------------------------------------------------------------
10,000 University of Puerto Rico 5.250 06/01/2025 06/01/2007 b 10,636
- --------------------------------------------------------------------------------------------------------------------
215,000 University of Puerto Rico 5.500 06/01/2012 s 11/01/2003 b 218,560
- --------------------------------------------------------------------------------------------------------------------
45,000 V.I. Hsg. Finance Authority, Series A 6.500 03/01/2025 s 03/01/2005 b 46,607
- --------------------------------------------------------------------------------------------------------------------
10,000,000 V.I. Public Finance Authority, Series A 5.500 10/01/2015 10/01/2010 b 10,635,700
- --------------------------------------------------------------------------------------------------------------------
1,000,000 V.I. Public Finance Authority, Series A 5.625 10/01/2010 05/29/2008 c 1,099,580
- --------------------------------------------------------------------------------------------------------------------
25,000 V.I. Public Finance Authority, Series A 5.625 10/01/2025 10/01/2010 b 26,135
- --------------------------------------------------------------------------------------------------------------------
19,800,000 V.I. Public Finance Authority, Series A 6.125 10/01/2029 s 10/01/2010 b 21,707,928
- --------------------------------------------------------------------------------------------------------------------
7,220,000 V.I. Public Finance Authority, Series A 6.375 10/01/2019 s 01/01/2010 b 8,366,175
- --------------------------------------------------------------------------------------------------------------------
9,500,000 V.I. Public Finance Authority, Series A 6.500 10/01/2024 s 10/01/2010 b 10,920,250
- --------------------------------------------------------------------------------------------------------------------
2,500,000 V.I. Public Finance Authority, Series C 5.000 10/01/2003 10/01/2003 2,522,550
- --------------------------------------------------------------------------------------------------------------------
900,000 V.I. Tobacco Settlement Financing
Corp. (TASC) 0.000 v 05/15/2008 05/15/2008 711,396
- --------------------------------------------------------------------------------------------------------------------
1,470,000 V.I. Water & Power Authority 5.375 07/01/2010 07/01/2010 1,583,278
--------------
474,461,773
- --------------------------------------------------------------------------------------------------------------------
Total Investments, at Value (Cost $3,324,888,901)--100.4% 3,343,270,428
- --------------------------------------------------------------------------------------------------------------------
Liabilities in Excess of Other Assets--(0.4) (13,543,270)
--------------
Net Assets--100.0% $3,329,727,158
==============
<FN>
Footnotes to Statement of Investments
*Call Date, Put Date or Average Life of Sinking Fund, if applicable, as detailed.
a. Date of prefunded call, or maturity date if escrowed to maturity.
b. Optional call date; corresponds to the most conservative yield calculation.
c. Average life due to mandatory, or expected, sinking fund principal payments prior to maturity.
d. Date of mandatory put.
e. Date of planned principal payment.
f. Effective maturity corresponding to variable coupon payment date.
g. Average life due to mandatory, or expected, sinking fund principal payments prior to the applicable optional call date.
i. Identifies issues considered to be illiquid--See Note 6 of Notes to Financial Statements.
r. Represents the current interest rate for a variable rate bond known as an "inverse floater". See Note 1 of Notes to Financial
Statements.
s. Security also has mandatory sinking fund principal payments prior to maturity and an average life which is shorter than the
stated final maturity.
t. Non-income-accruing security.
u. Issuer is in default. See Note 1 of Notes to Financial Statements.
v.Represents the current interest rate for a variable or increasing rate security.
w.When-issued security to be delivered and settled after June 30, 2003. See Note 1 of Notes to Financial Statements.
z. Represents a zero coupon bond.
See accompanying Notes to Financial Statements.
</FN>
41 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
FOOTNOTES TO STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Portfolio Abbreviations June 30, 2003
- --------------------------------------------------------------------------------
To simplify the listings of securities, abbreviations are used per the table
below:
ACDS Association for Children with Down
Syndrome
ACLD Adults and Children with Learning and
Developmental Disabilities
ALIA Alliance of Long Island Agencies
ASMF Amsterdam Sludge Management Facility
CAB Capital Appreciation Bond
CARS Complimentary Auction Rate Security
CCDRCA Catholic Charities of the Diocese of
Rockville Centre and Affiliates
CCFDP Child Care Facilities Development Program
CDC Community Development Corp.
CFGA Child and Family Guidance Association
CMA Community Mainstreaming Associates
COP Certificates of Participation
CRR Center for Rapid Recovery
CSD Central School District
CON ED Consolidated Edison Company
DA Dormitory Authority
DIAMONDS Direct Investment of Accrued Municipals
EDA Economic Development Authority
EFC Environmental Facilities Corp.
EHC Elderly Housing Corporation
ERDA Energy Research and Development
Authority
FHA Federal Housing Authority
FREE Family Residences and Essential Enterprises
GO General Obligation
GRIA Greater Rochester International Airport
HBFA Housing Bank and Finance Agency
HDC Housing Development Corp.
HE&H Higher Educational and Health
HELP Homeless Economic Loan Program
HFA Housing Finance Agency
HFC Housing Finance Corp.
HJDOI Hospital for Joint Diseases Orthopaedic
Institute
HKSB Helen Keller Services for the Blind
IDA Industrial Development Agency
IDB Industrial Development Board
IMEPCF Industrial, Medical and Environmental
Pollution Control Facilities
IRS Inverse Rate Security
ITEMECF Industrial, Tourist, Educational, Medical and
Environmental Community Facilities
JDAM Julia Dyckman Andrus Memorial
JFK John Fitzgerald Kennedy
L.I. Long Island
LGAC Local Government Assistance Corp.
LILCO Long Island Lighting Corporation
MSH/NYU Mount Sinai Hospital/New York University
MTA Metropolitan Transportation Authority
NIMO Niagara Mohawk Power Corporation
NY/NJ New York/New Jersey
NYC New York City
NYS New York State
NYSEG New York State Electric and Gas
NYU New York University
PACES Potsdam Auxiliary and College Educational
Service
PARS Periodic Auction Reset Securities
RG&E Rochester Gas and Electric
RIBS Residual Interest Bonds
RIT Rochester Institute of Technology
RITES Residual Interest Tax Exempt Security
RES REC Resource Recovery Facility
SCHC Senior Citizen Housing Corporation
SCSB Schuyler Community Services Board
SONYMA State of New York Mortgage Agency
SUNY State University of New York
SWMA Solid Waste Management Authority
TASC Tobacco Settlement Asset-Backed Bonds
TFA Transitional Finance Authority
TFABS Tobacco Flexible Amortization Bonds
UDC Urban Development Corp.
USTA United States Tennis Association
V.I. United States Virgin Islands
VRDB Variable Rate Debt Bonds
WHELC Wartburg Home of the Evangelical
Lutheran Church
WORCA Working Organization for Retarded
Children and Adults
WRC Westchester Resco Company
YMCA Young Men's Christian Association
42 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
Industry Concentrations June 30, 2003
- --------------------------------------------------------------------------------
Distribution of investments by industry of issue, as a percentage of total
investments at value, is as follows:
Industry Market Value Percent
- --------------------------------------------------------------------------------
Tobacco Settlements $ 657,779,886 19.7%
Hospital/Health Care 373,648,611 11.2
Electric Utilities 366,995,613 11.0
Multifamily Housing 262,164,485 7.8
General Obligation 256,219,769 7.7
Marine/Aviation Facilities 212,654,320 6.4
Sales Tax Revenue 205,692,183 6.2
Municipal Leases 190,331,958 5.7
Airlines 146,442,817 4.4
Higher Education 134,675,434 4.0
Single Family Housing 116,929,436 3.5
Not-for-Profit Organization 78,665,832 2.4
Highways/Railways 71,681,258 2.1
Water Utilities 58,804,206 1.8
Resource Recovery 48,646,389 1.5
Gas Utilities 41,029,241 1.2
Education 23,690,200 0.7
Manufacturing, Non-Durable Goods 18,207,201 0.5
Adult Living Facilities 17,987,760 0.5
Manufacturing, Durable Goods 16,596,648 0.5
Pollution Control 13,969,676 0.4
Paper, Containers & Packaging 12,052,934 0.4
Parking Fee Revenue 8,284,248 0.2
Special Assessment 7,579,867 0.2
Special Tax 1,540,667 --
Hotels, Restaurants &Leisure 999,789 --
---------------------------
Total $3,343,270,428 100.0%
===========================
- --------------------------------------------------------------------------------
Summary of Ratings June 30, 2003
Distribution of investments by rating category, as a percentage of total
investments at value, is as follows:
Rating Percent
- --------------------------------------------------------------------------------
AAA 23.8%
AA 13.6
A 39.7
BBB 15.1
BB 4.9
B 0.0
CCC 0.0
Not Rated 1.9
------
100.0%
======
- --------------------------------------------------------------------------------
Bonds rated by any nationally recognized statistical rating organization are
included in the equivalent Standard & Poor's rating category. As a general
matter, unrated bonds may be backed by mortgage liens or equipment liens on the
underlying property, and also may be guaranteed. Bonds which are backed by a
letter of credit or by other financial institutions or agencies may be assigned
an investment-grade rating by the Manager, which reflects the quality of the
guarantor, institution or agency. Unrated bonds may also be assigned a rating
when the issuer has rated bonds outstanding with comparable credit
characteristics, or when, in the opinion of the Manager, the bond itself
possesses credit characteristics which allow for rating. The unrated bonds in
the portfolio are predominantly smaller issuers which have not applied for a
bond rating. Only those unrated bonds which subsequent to purchase have not been
designated investment grade by the Manager are included in the "Not Rated"
category.
43 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES Unaudited
- --------------------------------------------------------------------------------
June 30, 2003
- --------------------------------------------------------------------------------------------------
Assets
Investments, at value (cost $3,324,888,901)--see accompanying statement $3,343,270,428
- --------------------------------------------------------------------------------------------------
Cash 1,315,587
- --------------------------------------------------------------------------------------------------
Receivables and other assets:
Interest 56,256,271
Investments sold 49,738,598
Shares of beneficial interest sold 9,917,989
Other 57,578
----------------
Total assets 3,460,556,451
- --------------------------------------------------------------------------------------------------
Liabilities
Payables and other liabilities:
Notes payable to bank (interest rate 2.000% at June 30, 2003) 110,400,000
Investments purchased (including $965,000 purchased on a when-issued
or forward commitment basis) 7,888,141
Shares of beneficial interest redeemed 7,698,616
Dividends 2,425,499
Distribution and service plan fees 2,034,854
Trustees' compensation 192,558
Transfer and shareholder servicing agent fees 111,011
Other 78,614
----------------
Total liabilities 130,829,293
- --------------------------------------------------------------------------------------------------
Net Assets $3,329,727,158
================
- --------------------------------------------------------------------------------------------------
Composition of Net Assets
Paid-in capital $3,341,128,066
- --------------------------------------------------------------------------------------------------
Undistributed net investment income 427,849
- --------------------------------------------------------------------------------------------------
Accumulated net realized loss on investment transactions (30,210,284)
- --------------------------------------------------------------------------------------------------
Net unrealized appreciation on investments 18,381,527
----------------
Net Assets $3,329,727,158
================
44 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------------------------
Net Asset Value Per Share
Class A Shares:
Net asset value and redemption price per share (based on net assets of
$1,888,362,334 and 575,563,313 shares of beneficial interest outstanding) $3.28
Maximum offering price per share (net asset value plus sales charge of 3.50% of
offering price) $3.40
- --------------------------------------------------------------------------------------------------
Class B Shares:
Net asset value, redemption price (excludes applicable contingent deferred
sales charge) and offering price per share (based on net assets of $442,965,204
and 135,172,226 shares of beneficial interest outstanding) $3.28
- --------------------------------------------------------------------------------------------------
Class C Shares:
Net asset value, redemption price (excludes applicable contingent deferred
sales charge) and offering price per share (based on net assets of $996,628,665
and 304,695,040 shares of beneficial interest outstanding) $3.27
- --------------------------------------------------------------------------------------------------
Class X Shares:
Net asset value and redemption price per share (based on net assets of
$1,770,955 and 538,293 shares of beneficial interest outstanding) $3.29
See accompanying Notes to Financial Statements.
45 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
STATEMENT OF OPERATIONS Unaudited
- --------------------------------------------------------------------------------
For the Six Months Ended June 30, 2003
- --------------------------------------------------------------------------------
Investment Income
Interest $ 86,137,840
- --------------------------------------------------------------------------------
Expenses
Management fees 6,537,457
- --------------------------------------------------------------------------------
Distribution and service plan fees:
Class A 2,342,835
Class B 2,080,732
Class C 4,771,263
Class X 15,543
- --------------------------------------------------------------------------------
Transfer and shareholder servicing agent fees:
Class A 325,696
Class B 144,852
Class C 202,128
Class X 2,011
- --------------------------------------------------------------------------------
Accounting service fees 490,055
- --------------------------------------------------------------------------------
Interest expense 261,117
- --------------------------------------------------------------------------------
Trustees' compensation 81,842
- --------------------------------------------------------------------------------
Custodian fees and expenses 81,296
- --------------------------------------------------------------------------------
Other 38,312
-------------
Total expenses 17,375,139
Less reduction to custodian expenses (17,660)
-------------
Net expenses 17,357,479
- --------------------------------------------------------------------------------
Net Investment Income 68,780,361
- --------------------------------------------------------------------------------
Realized and Unrealized Gain (Loss)
Net realized gain on investments 1,317,936
- --------------------------------------------------------------------------------
Net change in unrealized depreciation on investments (36,963,471)
- --------------------------------------------------------------------------------
Net Increase in Net Assets Resulting from Operations $33,134,826
=============
See accompanying Notes to Financial Statements.
46 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
STATEMENTS OF CHANGES IN NET ASSETS
- --------------------------------------------------------------------------------
Six Months Year
Ended Ended
June 30, 2003 December 31,
(Unaudited) 2002
- --------------------------------------------------------------------------------------------------------------------
Operations
Net investment income $ 68,780,361 $ 101,193,411
- --------------------------------------------------------------------------------------------------------------------
Net realized gain (loss) 1,317,936 (2,778,018)
- --------------------------------------------------------------------------------------------------------------------
Net change in unrealized appreciation (depreciation) (36,963,471) 40,533,262
-----------------------------------------------
Net increase in net assets resulting from operations 33,134,826 138,948,655
- --------------------------------------------------------------------------------------------------------------------
Dividends and/or Distributions to Shareholders
Dividends from net investment income:
Class A (43,157,350) (71,242,725)
Class B (7,889,448) (10,501,117)
Class C (18,260,854) (22,784,301)
Class X (160,164) (731,746)
- --------------------------------------------------------------------------------------------------------------------
Beneficial Interest Transactions
- --------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net assets resulting from beneficial interest
transactions:
Class A 41,874,646 722,304,877
Class B 63,372,896 226,278,537
Class C 112,441,813 624,270,800
Class X (10,965,367) (12,906,454)
- --------------------------------------------------------------------------------------------------------------------
Net Assets
Total increase 170,390,998 1,593,636,526
- --------------------------------------------------------------------------------------------------------------------
Beginning of period 3,159,336,160 1,565,699,634
-----------------------------------------------
End of period [including undistributed net investment
income of $427,849 and $1,115,304, respectively] $3,329,727,158 $3,159,336,160
===============================================
See accompanying Notes to Financial Statements.
47 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
FINANCIAL HIGHLIGHTS
- --------------------------------------------------------------------------------
Six Months Year
Ended Ended
June 30, 2003 Dec. 31,
Class A (Unaudited) 2002 2001 2000 1999 1998
- ------------------------------------------------------------------------------------------------------------------------------------
Per Share Operating Data
- ------------------------------------------------------------------------------------------------------------------------------------
Net asset value, beginning of period $3.31 $3.27 $3.27 $3.19 $3.37 $3.34
- ------------------------------------------------------------------------------------------------------------------------------------
Income (loss) from investment operations:
Net investment income .07 .15 .16 .16 .15 .16
Net realized and unrealized gain (loss) (.03) .05 -- .07 (.18) .03
----------------------------------------------------------------------------------
Total from investment operations .04 .20 .16 .23 (.03) .19
- ------------------------------------------------------------------------------------------------------------------------------------
Dividends and/or distributions to shareholders:
Dividends from net investment income (.07) (.16) (.16) (.15) (.15) (.16)
- ------------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $3.28 $3.31 $3.27 $3.27 $3.19 $3.37
===================================================================================
- ------------------------------------------------------------------------------------------------------------------------------------
Total Return, at Net Asset Value 1 1.37% 6.33% 4.85% 7.47% (0.87)% 5.94%
- ------------------------------------------------------------------------------------------------------------------------------------
Ratios/Supplemental Data
Net assets, end of period (in thousands) $1,888,362 $1,868,271 $1,124,846 $927,079 $1,025,714 $979,316
- ------------------------------------------------------------------------------------------------------------------------------------
Average net assets (in thousands) $1,898,340 $1,472,317 $ 996,671 $945,492 $1,060,745 $884,849
- ------------------------------------------------------------------------------------------------------------------------------------
Ratios to average net assets: 2
Net investment income 4.55% 4.65% 4.95% 4.88% 4.64% 4.80%
Expenses, gross 0.74% 0.74% 0.78% 0.85% 0.81% 0.82% 3
Expenses, net 0.72% 4,5 0.74% 4,6 0.74% 4,5 0.78% 4,5 0.77% 4,5 0.80% 5
- ------------------------------------------------------------------------------------------------------------------------------------
Portfolio turnover rate 10% 19% 23% 37% 37% 25%
<FN>
1. Assumes an 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.
2. Annualized for periods of less than one full year.
3. Expense ratio has been calculated without adjustment for the reduction to custodian expenses.
4. Reduction to custodian expenses less than 0.01%.
5. Net of interest expense.
6. Interest expense was less than 0.01%. The Fund's interest expense was substantially offset by the incremental interest income
generated on bonds purchased with borrowed funds.
See accompanying Notes to Financial Statements.
</FN>
48 LIMITED TERM NEW YORK MUNICIPAL FUND
Six Months Year
Ended Ended
June 30, 2003 Dec. 31,
Class B (Unaudited) 2002 2001 2000 1999 1998
- ------------------------------------------------------------------------------------------------------------------------------------
Per Share Operating Data
Net asset value, beginning of period $3.31 $3.27 $3.27 $3.19 $3.37 $3.34
- ------------------------------------------------------------------------------------------------------------------------------------
Income (loss) from investment operations:
Net investment income .06 .13 .13 .13 .13 .14
Net realized and unrealized gain (loss) (.03) .05 -- .08 (.18) .03
----------------------------------------------------------------------------------
Total from investment operations .03 .18 .13 .21 (.05) .17
- ------------------------------------------------------------------------------------------------------------------------------------
Dividends and/or distributions to shareholders:
Dividends from net investment income (.06) (.14) (.13) (.13) (.13) (.14)
- ------------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $3.28 $3.31 $3.27 $3.27 $3.19 $3.37
===================================================================================
- ------------------------------------------------------------------------------------------------------------------------------------
Total Return, at Net Asset Value 1 0.98% 5.53% 4.06% 6.65% (1.64)% 5.13%
- ------------------------------------------------------------------------------------------------------------------------------------
Ratios/Supplemental Data
Net assets, end of period (in thousands) $442,965 $383,690 $153,471 $92,786 $88,758 $64,388
- ------------------------------------------------------------------------------------------------------------------------------------
Average net assets (in thousands) $419,925 $261,858 $113,976 $86,107 $78,263 $43,620
- ------------------------------------------------------------------------------------------------------------------------------------
Ratios to average net assets: 2
Net investment income 3.75% 3.85% 4.17% 4.09% 3.84% 3.97%
Expenses, gross 1.53% 1.51% 1.54% 1.63% 1.59% 1.59% 3
Expenses, net 1.51% 4,5 1.51% 4,6 1.50% 4,5 1.56% 4,5 1.55% 4,5 1.57% 5
- ------------------------------------------------------------------------------------------------------------------------------------
Portfolio turnover rate 10% 19% 23% 37% 37% 25%
<FN>
1. Assumes an 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.
2. Annualized for periods of less than one full year.
3. Expense ratio has been calculated without adjustment for the reduction to custodian expenses.
4. Reduction to custodian expenses less than 0.01%.
5. Net of interest expense.
6. Interest expense was less than 0.01%. The Fund's interest expense was substantially offset by the incremental interest income
generated on bonds purchased with borrowed funds.
See accompanying Notes to Financial Statements.
</FN>
49 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
FINANCIAL HIGHLIGHTS Continued
- --------------------------------------------------------------------------------
Six Months Year
Ended Ended
June 30, 2003 Dec. 31,
Class C (Unaudited) 2002 2001 2000 1999 1998
- ------------------------------------------------------------------------------------------------------------------------------------
Per Share Operating Data
Net asset value, beginning of period $3.30 $3.26 $3.26 $3.18 $3.36 $3.33
- ------------------------------------------------------------------------------------------------------------------------------------
Income (loss) from investment operations:
Net investment income .06 .13 .13 .13 .13 .14
Net realized and unrealized gain (loss) (.03) .05 -- .08 (.18) .03
----------------------------------------------------------------------------------
Total from investment operations .03 .18 .13 .21 (.05) .17
- ------------------------------------------------------------------------------------------------------------------------------------
Dividends and/or distributions to shareholders:
Dividends from net investment income (.06) (.14) (.13) (.13) (.13) (.14)
- ------------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $3.27 $3.30 $3.26 $3.26 $3.18 $3.36
===================================================================================
- ------------------------------------------------------------------------------------------------------------------------------------
Total Return, at Net Asset Value 1 0.99% 5.54% 4.06% 6.67% (1.63)% 5.15%
- ------------------------------------------------------------------------------------------------------------------------------------
Ratios/Supplemental Data
Net assets, end of period (in thousands) $996,629 $894,469 $261,857 $101,858 $119,329 $94,870
- ------------------------------------------------------------------------------------------------------------------------------------
Average net assets (in thousands) $962,729 $574,124 $150,504 $105,452 $116,249 $61,717
- ------------------------------------------------------------------------------------------------------------------------------------
Ratios to average net assets: 2
Net investment income 3.78% 3.82% 4.13% 4.11% 3.86% 3.98%
Expenses, gross 1.50% 1.51% 1.53% 1.62% 1.57% 1.57% 3
Expenses, net 1.48% 4,5 1.51% 4,6 1.49% 4,5 1.55% 4,5 1.53% 4,5 1.55% 5
- ------------------------------------------------------------------------------------------------------------------------------------
Portfolio turnover rate 10% 19% 23% 37% 37% 25%
<FN>
1. Assumes an 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.
2. Annualized for periods of less than one full year.
3. Expense ratio has been calculated without adjustment for the reduction to custodian expenses.
4. Reduction to custodian expenses less than 0.01%.
5. Net of interest expense.
6. Interest expense was less than 0.01%. The Fund's interest expense was substantially offset by the incremental interest income
generated on bonds purchased with borrowed funds.
See accompanying Notes to Financial Statements.
</FN>
50 LIMITED TERM NEW YORK MUNICIPAL FUND
Six Months Year
Ended Ended
June 30, 2003 Dec. 31,
Class X (Unaudited) 2002 2001 2000 1999 1998
- ------------------------------------------------------------------------------------------------------------------------------------
Per Share Operating Data
Net asset value, beginning of period $3.34 $3.28 $3.28 $3.20 $3.38 $3.35
- ------------------------------------------------------------------------------------------------------------------------------------
Income (loss) from investment operations:
Net investment income .30 .15 .15 .14 .13 .15
Net realized and unrealized gain (loss) (.24) .04 (.01) .08 (.18) .03
----------------------------------------------------------------------------------
Total from investment operations .06 .19 .14 .22 (.05) .18
- ------------------------------------------------------------------------------------------------------------------------------------
Dividends and/or distributions to shareholders:
Dividends from net investment income (.11) (.13) (.14) (.14) (.13) (.15)
- ------------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $3.29 $3.34 $3.28 $3.28 $3.20 $3.38
===================================================================================
- ------------------------------------------------------------------------------------------------------------------------------------
Total Return, at Net Asset Value 1 2.59% 5.77% 4.30% 6.88% (1.39)% 5.38%
- ------------------------------------------------------------------------------------------------------------------------------------
Ratios/Supplemental Data
Net assets, end of period (in thousands) $1,771 $12,906 $25,526 $32,651 $39,496 $47,424
- ------------------------------------------------------------------------------------------------------------------------------------
Average net assets (in thousands) $4,157 $18,112 $29,642 $34,684 $44,237 $49,866
- ------------------------------------------------------------------------------------------------------------------------------------
Ratios to average net assets: 2
Net investment income 3.98% 3.74% 4.46% 4.34% 4.11% 4.30%
Expenses, gross 1.31% 1.30% 1.31% 1.39% 1.34% 1.35% 3
Expenses, net 1.29% 4,5 1.30% 4,6 1.27% 4,5 1.32% 4,5 1.30% 4,5 1.32% 5
- ------------------------------------------------------------------------------------------------------------------------------------
Portfolio turnover rate 10% 19% 23% 37% 37% 25%
<FN>
1. Assumes an 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.
2. Annualized for periods of less than one full year.
3. Expense ratio has been calculated without adjustment for the reduction to custodian expenses.
4. Reduction to custodian expenses less than 0.01%.
5. Net of interest expense.
6. Interest expense was less than 0.01%. The Fund's interest expense was substantially offset by the incremental interest income
generated on bonds purchased with borrowed funds.
See accompanying Notes to Financial Statements.
</FN>
51 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS Unaudited
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1. Significant Accounting Policies
Limited Term New York Municipal Fund (the Fund) is a separate series of
Rochester Portfolio Series, a diversified, open-end management investment
company registered under the Investment Company Act of 1940, as amended. The
Fund's investment objective is to seek as high a level of income exempt from
federal income tax and New York State and New York City personal income taxes
as is consistent with its investment policies and prudent investment
management. The Fund's investment advisor is OppenheimerFunds, Inc. (the
Manager).
The Fund offers Class A, Class B and Class C shares. As of January 6, 1998,
the Fund is no longer offering Class X shares (Class X shares were designated
as Class B shares prior to May 1, 1997). Class A shares are sold at their
offering price, which is normally net asset value plus a front-end sales
charge. Class B and Class C shares are sold without a front-end sales charge
but may be subject to a contingent deferred sales charge (CDSC). Class X shares
may also be subject to a CDSC. All classes of shares have identical rights and
voting privileges. Earnings, net assets and net asset value per share may
differ by minor amounts due to each class having its own expenses directly
attributable to that class. Classes A, B, C and X have separate distribution
and/or service plans. Class B and Class X shares will automatically convert to
Class A shares six years after the date of purchase.
The following is a summary of significant accounting policies consistently
followed by the Fund.
- --------------------------------------------------------------------------------
Securities Valuation. Securities listed or traded on National Stock Exchanges
or other domestic or foreign exchanges are valued based on the last sale price
of the security traded on that exchange prior to the time when the Fund's
assets are valued. Securities traded on NASDAQ are valued based on the closing
price provided by NASDAQ prior to the time when the Fund's assets are valued.
In the absence of a sale, the security is valued at the last sale price on the
prior trading day, if it is within the spread of the closing bid and asked
prices, and if not, at the closing bid price. Securities (including restricted
securities) for which quotations are not readily available are valued primarily
using dealer-supplied valuations, a portfolio pricing service authorized by the
Board of Trustees, or at their fair value. Fair value is determined in good
faith using consistently applied procedures under the supervision of the Board
of Trustees. Short-term "money market type" debt securities with remaining
maturities of sixty days or less are valued at amortized cost (which
approximates market value).
- --------------------------------------------------------------------------------
Securities Purchased on a When-Issued or Forward Commitment Basis. Delivery and
payment for securities that have been purchased by the Fund on a when-issued
basis can take place a month or more after the trade date. Normally the
settlement date occurs within six months after the trade date; however, the
Fund may, from time to time, purchase securities whose settlement date extends
six months or more beyond trade date. During this period, such securities do
not earn interest, are subject to market fluctuation and may increase or
decrease in value prior to their delivery. The Fund maintains segregated assets
with a market value equal to or greater than the amount of its purchase
commitments.
52 LIMITED TERM NEW YORK MUNICIPAL FUND
The purchase of securities on a when-issued or forward commitment basis may
increase the volatility of the Fund's net asset value to the extent the Fund
executes such transactions while remaining substantially fully invested. As of
June 30, 2003, the Fund had entered into when-issued purchase commitments or
forward commitments of $965,000.
- --------------------------------------------------------------------------------
Inverse Floating Rate Securities. The Fund invests in inverse floating rate
securities that pay interest at a rate that varies inversely with short-term
interest rates. Certain of these securities may be leveraged, whereby the
interest rate varies inversely at a multiple of the change in short-term rates.
As interest rates rise, inverse floaters produce less current income. The price
of such securities is more volatile than comparable fixed rate securities. The
Fund intends to invest no more than 5% of its total assets in inverse floaters.
Inverse floaters amount to $85,246,390 as of June 30, 2003. Including the
effect of leverage, inverse floaters represent 2.48% of the Fund's total assets
as of June 30, 2003.
- --------------------------------------------------------------------------------
Security Credit Risk. The Fund invests in high-yield securities, which may be
subject to a greater degree of credit risk, market fluctuations and loss of
income and principal, and may be more sensitive to economic conditions than
lower-yielding, higher-rated fixed-income securities. The Fund may acquire
securities in default, and is not obligated to dispose of securities whose
issuers subsequently default. As of June 30, 2003, securities with an aggregate
market value of $2,347,617, representing 0.07% of the Fund's net assets, were
in default.
There are certain risks arising from geographic concentration in any State.
Certain revenue or tax related events in a state may impair the ability of
certain issuers of municipal securities to pay principal and interest on their
obligations.
- --------------------------------------------------------------------------------
Allocation of Income, Expenses, Gains and Losses. Income, expenses (other than
those attributable to a specific class), gains and losses are allocated on a
daily basis to each class of shares based upon the relative proportion of net
assets represented by such class. Operating expenses directly attributable to a
specific class are charged against the operations of that class.
- --------------------------------------------------------------------------------
Federal Taxes. The Fund intends to comply with provisions of the Internal
Revenue Code applicable to regulated investment companies and to distribute
substantially all of its investment company taxable income, including any net
realized gain on investments not offset by capital loss carryforwards, if any,
to shareholders, therefore, no federal income or excise tax provision is
required.
As of June 30, 2003, the Fund had available for federal income tax purposes
an estimated unused capital loss carryforward of $30,062,092. This estimated
capital loss carryforward represents carryforward as of the end of the last
fiscal year, increased for losses deferred under tax accounting rules to the
current fiscal year and increased or decreased by capital losses or gains
realized in the first six months of the current fiscal year. During the six
months ended June 30, 2003, the Fund used $1,317,936 of carryforward to offset
capital gains realized. During the year ended December 31, 2002, the Fund did
not use carryforward to offset capital gains realized.
53 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1. Significant Accounting Policies Continued
As of December 31, 2002, the Fund had available for federal income tax purposes
unused capital loss carryforwards as follows:
Expiring
----------------------
2003 $ 2,250,684
2004 244,677
2006 484,870
2007 15,555,960
2008 7,670,334
2009 2,543,678
2010 2,629,825
-----------
Total $31,380,028
===========
- --------------------------------------------------------------------------------
Trustees' Compensation. The Fund has adopted an unfunded retirement plan for
the Fund's independent trustees. Benefits are based on years of service and
fees paid to each trustee during the years of service. During the six months
ended June 30, 2003, the Fund's projected benefit obligations were increased by
$34,085 and payments of $3,503 were made to retired trustees, resulting in an
accumulated liability of $174,963 as of June 30, 2003.
The Board of Trustees has adopted a deferred compensation plan for
independent trustees that enables trustees to elect to defer receipt of all or
a portion of the annual compensation they are entitled to receive from the
Fund. Under the plan, deferred amounts are treated as though equal dollar
amounts had been invested in shares of the Fund or are invested in other
selected Oppenheimer funds. Deferral of trustees' fees under the plan will not
affect the net assets of the Fund, and will not materially affect the Fund's
assets, liabilities or net investment income per share. Amounts will be
deferred until distributed in accordance to the Plan.
- --------------------------------------------------------------------------------
Dividends and Distributions to Shareholders. Dividends and distributions to
shareholders, which are determined in accordance with income tax regulations,
are recorded on the ex-dividend date. Income distributions, if any, are
declared daily and paid monthly. Capital gain distributions, if any, are
declared and paid annually.
- --------------------------------------------------------------------------------
Classification of Dividends and Distributions to Shareholders. Net investment
income (loss) and net realized gain (loss) may differ for financial statement
and tax purposes. The character of dividends and distributions made during the
fiscal year from net investment income or net realized gains may differ from
their ultimate characterization for federal income tax purposes. Also, due to
timing of dividends and distributions, the fiscal year in which amounts are
distributed may differ from the fiscal year in which the income or net realized
gain was recorded by the Fund.
54 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
The tax character of distributions paid during the six months ended June 30,
2003 and the year ended December 31, 2002 was as follows:
Six Months Ended Year Ended
June 30, 2003 December 31, 2002
---------------------------------------------------------
Distributions paid from:
Ordinary income $69,467,816 $105,259,889
- --------------------------------------------------------------------------------
Investment Income. Interest income, which includes accretion of discount and
amortization of premium, is accrued as earned.
- --------------------------------------------------------------------------------
Expense Offset Arrangement. The reduction of custodian fees represents earnings
on cash balances maintained by the Fund.
- --------------------------------------------------------------------------------
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 income and
expenses during the reporting period. Actual results could differ from those
estimates.
- --------------------------------------------------------------------------------
2. Shares of Beneficial Interest
The Fund has authorized an unlimited number of no par value shares of
beneficial interest of each class. Transactions in shares of beneficial
interest were as follows:
Six Months Ended June 30, 2003 Year Ended December 31, 2002
Shares Amount Shares Amount
- ------------------------------------------------------------------------------------------------------------------
Class A
Sold 114,083,719 $ 374,681,396 291,519,858 $ 958,293,867
Dividends and/or
distributions reinvested 8,656,651 28,390,854 14,161,468 46,538,461
Redeemed (110,810,932) (361,197,604) (85,934,132) (282,527,451)
---------------------------------------------------------------------------------------
Net increase 11,929,438 $ 41,874,646 219,747,194 $722,304,877
=======================================================================================
- ------------------------------------------------------------------------------------------------------------------
Class B
Sold 29,441,859 $ 96,505,752 75,324,857 $ 247,324,876
Dividends and/or
distributions reinvested 1,625,059 5,326,541 2,218,844 7,282,494
Redeemed (11,784,590) (38,459,397) (8,624,172) (28,328,833)
---------------------------------------------------------------------------------------
Net increase 19,282,328 $ 63,372,896 68,919,529 $226,278,537
=======================================================================================
- ------------------------------------------------------------------------------------------------------------------
Class C
Sold 71,312,149 $ 233,595,816 209,666,907 $ 687,569,238
Dividends and/or
distributions reinvested 3,918,594 12,818,272 5,095,024 16,699,520
Redeemed (41,184,868) (133,972,275) (24,386,390) (79,997,958)
---------------------------------------------------------------------------------------
Net increase 34,045,875 $ 112,441,813 190,375,541 $ 624,270,800
=======================================================================================
55 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
2. Shares of Beneficial Interest Continued
Six Months Ended June 30, 2003 Year Ended December 31, 2002
Shares Amount Shares Amount
- ------------------------------------------------------------------------------------------------------------------
Class X
Sold -- $ -- -- $ --
Dividends and/or
distributions reinvested 29,433 97,150 136,933 450,397
Redeemed (3,351,746) (11,062,517) (4,060,493) (13,356,851)
---------------------------------------------------------------------------------
Net decrease (3,322,313) $(10,965,367) (3,923,560) $(12,906,454)
=================================================================================
- --------------------------------------------------------------------------------
3. Purchases and Sales of Securities
The aggregate cost of purchases and proceeds from sales of securities, other
than short-term obligations, for the six months ended June 30, 2003, were
$634,050,413 and $322,408,336, respectively.
- --------------------------------------------------------------------------------
4. Fees and Other Transactions with Affiliates
Management Fees. Management fees paid to the Manager were in accordance with
the investment advisory agreement with the Fund which provides for a fee at an
annual rate of 0.50% of the first $100 million of average daily net assets,
0.45% of the next $150 million, 0.40% of the next $1.75 billion, and 0.39% of
average daily net assets in excess of $2 billion.
- --------------------------------------------------------------------------------
Accounting Fees. Accounting fees paid to the Manager were in accordance with
the accounting services agreement with the Fund which provides for an annual
fee of $12,000 for the first $30 million of net assets and $9,000 for each
additional $30 million of net assets. During the six months ended, the Fund
paid $490,055 to the Manager for accounting and pricing services.
- --------------------------------------------------------------------------------
Transfer Agent Fees. OppenheimerFunds Services (OFS), a division of the
Manager, acts as the transfer and shareholder servicing agent for the Fund. The
Fund pays OFS a $22.50 per account fee.
OFS has voluntarily agreed to limit transfer and shareholder servicing agent
fees for all classes, up to an annual rate of 0.35% of average net assets per
class. This undertaking may be amended or withdrawn at any time.
- --------------------------------------------------------------------------------
Distribution and Service Plan (12b-1) Fees. Under its General Distributor's
Agreement with the Manager, OppenheimerFunds Distributor, Inc. (the
Distributor) acts as the Fund's principal underwriter in the continuous public
offering of the different classes of shares of the Fund.
56 LIMITED TERM NEW YORK MUNICIPAL FUND
The compensation paid to (or retained by) the Distributor from the sale of
shares or on the redemption of shares is shown in the table below for the
period indicated.
Aggregate Class A Concessions Concessions Concessions Concessions
Front-End Front-End on Class A on Class B on Class C on Class X
Sales Charges Sales Charges Shares Shares Shares Shares
Six Months on Class A Retained by Advanced by Advanced by Advanced by Advanced by
Ended Shares Distributor Distributor 1 Distributor 1 Distributor 1 Distributor 1
- ---------------------------------------------------------------------------------------------------------------------------------
June 30, 2003 $3,061,069 $446,678 $333,308 $1,787,881 $1,861,736 $38,725
1. The Distributor advances concession payments to dealers for certain sales of
Class A shares and for sales of Class B, Class C and Class X shares from its
own resources at the time of sale.
Class A Class B Class C Class X
Contingent Contingent Contingent Contingent
Deferred Deferred Deferred Deferred
Sales Charges Sales Charges Sales Charges Sales Charges
Six Months Retained by Retained by Retained by Retained by
Ended Distributor Distributor Distributor Distributor
- ---------------------------------------------------------------------------------------------
June 30, 2003 $110,466 $474,402 $334,094 $--
- --------------------------------------------------------------------------------
Service Plan for Class A Shares. The Fund has adopted a Service Plan for Class
A Shares. It reimburses the Distributor for a portion of its costs incurred for
services provided to accounts that hold Class A shares. Reimbursement is made
quarterly at an annual rate of up to 0.25% of the average annual net assets of
Class A shares of the Fund. For the six months ended June 30, 2003, expense
under the Class A Plan totaled $2,342,835, all of which were paid by the
Distributor to recipients, and included $24,007 paid to an affiliate of the
Manager. Any unreimbursed expenses the Distributor incurs with respect to Class
A shares in any fiscal year cannot be recovered in subsequent years.
- --------------------------------------------------------------------------------
Distribution and Service Plans for Class B, Class C and Class X Shares. The
Fund has adopted Distribution and Service Plans for Class B, Class C and Class
X shares. Under the plans, the Fund pays the Distributor an annual asset-based
sales charge of 0.75% per year on Class B shares and on Class C shares and the
Fund pays the Distributor an annual asset-based sales charge of 0.50% per year
on Class X shares. The Distributor also receives a service fee of 0.25% per
year under each plan.
Distribution fees paid to the Distributor for the six months ended June 30,
2003, were as follows:
Distributor's
Distributor's Aggregate
Aggregate Unreimbursed
Unreimbursed Expenses as %
Total Payments Amount Retained Expenses of Net Assets
Under Plan by Distributor Under Plan of Class
- --------------------------------------------------------------------------------------------
Class B Plan $2,080,732 $1,379,546 $ 6,872,443 1.55%
Class C Plan 4,771,263 2,838,079 15,259,343 1.53
Class X Plan 15,543 34,959 680,236 38.41
57 LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
5. Illiquid Securities
As of June 30, 2003, investments in securities included issues that are
illiquid. A security may be considered illiquid if it lacks a readily available
market or if its valuation has not changed for a certain period of time. The
Fund intends to invest no more than 15% of its net assets (determined at the
time of purchase and reviewed periodically) in illiquid securities. The
aggregate value of illiquid securities subject to this limitation as of June
30, 2003 was $63,348,363, which represents 1.90% of the Fund's net assets.
- --------------------------------------------------------------------------------
6. Bank Borrowings
The Fund may borrow up to 10% of its total assets from a bank to purchase
portfolio securities, or for temporary and emergency purposes. The purchase of
securities with borrowed funds creates leverage in the Fund. The Fund has
entered into an agreement which enables it to participate with certain other
Oppenheimer funds in a committed, unsecured line of credit with a bank, which
permits borrowings up to $350 million, collectively. Interest is charged to
each fund, based on its borrowings, at a rate equal to the Federal Funds Rate
plus 0.625%. The Fund also pays a commitment fee equal to its pro rata share of
the average unutilized amount of the credit facility at a rate of 0.09% per
annum.
The Fund had borrowings outstanding of $110,400,000 at June 30, 2003 at an
interest rate of 2.000%. For the six months ended June 30, 2003, the average
monthly loan balance was $26,558,821 at an average interest rate of 1.907%. The
Fund had gross borrowings and gross loan repayments of $351,400,000 and
$360,500,000, respectively, during the six months ended June 30, 2003. The
maximum amount of borrowings outstanding at any month-end was $110,400,000. The
Fund paid $5,758 in commitment fees during the six months ended June 30, 2003.
- --------------------------------------------------------------------------------
Portfolio Proxy Voting Policies and Procedures
The Fund has adopted Portfolio Proxy Voting Policies and Procedures under which
the Fund votes proxies relating to securities ("portfolio proxies") held by the
Fund. A description of the Fund's Portfolio Proxy Voting Policies and
Procedures is available (i) without charge, upon request, by calling the Fund
toll-free at 1.800.225.5677, (ii) on the Fund's website at
www.oppenheimerfunds.com, and (iii) on the SEC's website at www.sec.gov. In
addition, the Fund will be required to file new Form N-PX, with its complete
proxy voting record for the 12 months ended June 30th, no later than August
31st of each year. The first such filing is due no later than August 31, 2004,
for the twelve months ended June 30, 2004. Once filed, the Fund's Form N-PX
filing will be available (i) without charge, upon request, by calling the Fund
toll-free at 1.800.225.5677, and (ii) on the SEC's website at www.sec.gov.
58 LIMITED TERM NEW YORK MUNICIPAL FUND
ITEM 2. CODE OF ETHICS - NOT REQUIRED
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT - NOT REQUIRED
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES - NOT REQUIRED
ITEM 5. RESERVED
ITEM 6. RESERVED
ITEM 7. NOT APPLICABLE
ITEM 8. RESERVED
ITEM 9. CONTROLS AND PROCEDURES
(a) Based on their evaluation of registrant's disclosure controls and
procedures (as defined in rule 30a-2(c) under the Investment Company
Act of 1940 (17 CFR 270.30a-2(c)) as of June 30, 2003, registrant's
principal executive officer and principal financial officer found
registrant's disclosure controls and procedures to be appropriately
designed to ensure that information required to be disclosed by
registrant in the reports that it files under the Securities Exchange
Act of 1934 (a) is accumulated and communicated to registrant's
management, including its principal executive officer and principal
financial officer, to allow timely decisions regarding required
disclosure, and (b) is recorded, processed, summarized and reported,
within the time periods specified in the rules and forms adopted by the
U.S. Securities and Exchange Commission.
(b) There have been no significant changes in registrant's internal
controls or in other factors that could significantly affect
registrant's internal controls subsequent to the date of the most
recent evaluation as indicated, including no significant deficiencies
or material weaknesses that required corrective action.
ITEM 10. EXHIBITS ATTACHED HERETO. (ATTACH CERTIFICATIONS AS EXHIBITS)