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
ROCHESTER PORTFOLIO SERIES
(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.
TWO WORLD FINANCIAL CENTER, NEW YORK, NEW YORK 10281-1008
(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: 06/30/2007
ITEM 1. REPORTS TO STOCKHOLDERS.
TOP HOLDINGS AND ALLOCATIONS
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TOP TEN CATEGORIES
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Tobacco Master Settlement Agreement 27.1%
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Hospital/Health Care 12.0
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Marine/Aviation Facilities 9.0
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General Obligation 8.6
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Electric Utilities 5.9
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Government Appropriation 5.2
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Municipal Leases 4.2
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Highways/Commuter Facilities 3.9
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Airlines 2.9
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Higher Education 2.8
Portfolio holdings are subject to change. Percentages are as of June 30, 2007,
and are based on the total market value of investments.
CREDIT ALLOCATIONS
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AAA 30.3%
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AA 17.3
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A 13.3
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BBB 34.6
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BB or lower 4.5
Allocations are subject to change. Percentages are as of June 30, 2007, and are
dollar-weighted based on the total market value of investments. Securities rated
by any rating organization are included in the equivalent Standard & Poor's
rating category in the allocation above. The allocation above also includes
unrated securities whose ratings have been assigned by the Manager; these
unrated securities, currently 8.98% of the portfolio's market value, are deemed
comparable in the Manager's judgment to the rated securities in each category.
Credit ratings of AAA, AA, A and BBB and their equivalents denote
investment-grade securities.
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15 | LIMITED TERM NEW YORK MUNICIPAL FUND
NOTES
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Total returns include changes in share price and reinvestment of dividends and
capital gains distributions in a hypothetical investment for the periods shown.
Cumulative total returns are not annualized. The Fund's total returns shown do
not reflect the deduction of income taxes on an individual's investment. Taxes
may reduce your actual investment returns on income or gains paid by the Fund or
any gains you may realize if you sell your shares. THIS SEMIANNUAL REPORT MUST
BE PRECEDED OR ACCOMPANIED BY THE CURRENT PROSPECTUS OF LIMITED TERM NEW YORK
MUNICIPAL FUND. BEFORE INVESTING IN ANY OF THE OPPENHEIMER FUNDS, INVESTORS
SHOULD CAREFULLY CONSIDER A FUND'S INVESTMENT OBJECTIVES, RISKS, CHARGES AND
EXPENSES. FUND PROSPECTUSES CONTAIN THIS AND OTHER INFORMATION ABOUT THE FUNDS.
FOR MORE INFORMATION, ASK YOUR FINANCIAL ADVISOR, CALL US AT 1.800.525.7048, OR
VISIT OUR WEBSITE AT WWW.OPPENHEIMERFUNDS.COM. READ PROSPECTUSES CAREFULLY
BEFORE INVESTING.
The Fund's investment strategy and focus can change over time. The mention of
specific fund holdings does not constitute a recommendation by OppenheimerFunds,
Inc.
CLASS A shares of the Fund were first publicly offered on 9/18/91. Unless
otherwise noted, Class A returns include the current maximum initial sales
charge of 3.50%.
CLASS B shares of the Fund were first publicly offered on 5/1/97. The average
annual total returns are shown net of the applicable contingent deferred sales
charge of 4% (1-year) and 1% (5-year). Because Class B shares convert to Class A
shares 72 months after purchase, the 10-year return for Class B uses Class A
performance for the period after conversion. Class B shares are subject to an
annual 0.75% asset-based sales charge.
CLASS C shares of the Fund were first publicly offered on 5/1/97. Unless
otherwise noted, Class C returns include the contingent deferred sales charge of
1% for the 1-year period. Class C shares are subject to an annual 0.75%
asset-based sales charge.
An explanation of the calculation of performance is in the Fund's Statement of
Additional Information.
16 | LIMITED TERM NEW YORK MUNICIPAL FUND
FUND EXPENSES
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FUND EXPENSES. As a shareholder of the Fund, you incur two types of costs: (1)
transaction costs, which may include sales charges (loads) on purchase payments,
contingent deferred sales charges on redemptions; and redemption fees, if any;
and (2) ongoing costs, including management fees; distribution and service fees;
and other Fund expenses. These examples are intended to help you understand your
ongoing costs (in dollars) of investing in the Fund and to compare these costs
with the ongoing costs of investing in other mutual funds.
The examples are based on an investment of $1,000.00 invested at the beginning
of the period and held for the entire 6-month period ended June 30, 2007.
ACTUAL EXPENSES. The "actual" lines of the table provide information about
actual account values and actual expenses. You may use the information on this
line for the class of shares you hold, together with the amount you invested, to
estimate the expense that you paid over the period. Simply divide your account
value by $1,000.00 (for example, an $8,600.00 account value divided by $1,000.00
= 8.60), then multiply the result by the number in the "actual" line under the
heading entitled "Expenses Paid During Period" to estimate the expenses you paid
on your account during this period.
HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES. The "hypothetical" lines of the
table provide information about hypothetical account values and hypothetical
expenses based on the Fund's actual expense ratio for each class of shares, and
an assumed rate of return of 5% per year before expenses, which is not the
Fund's actual return. The hypothetical account values and expenses may not be
used to estimate the actual ending account balance or expenses you paid for the
period. You may use this information to compare the ongoing costs of investing
in the Fund and other funds. To do so, compare this 5% hypothetical example for
the class of shares you hold with the 5% hypothetical examples that appear in
the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your
ongoing costs only and do not reflect any transactional costs, such as front-end
or contingent deferred sales charges (loads), or a $12.00 fee imposed annually
on accounts valued at less than $500.00 (subject to exceptions described in the
Statement of Additional Information). Therefore, the "hypothetical" lines of the
table are useful in comparing ongoing costs only, and will not help you
determine the relative total costs of owning different funds. In addition, if
these transactional costs were included, your costs would have been higher.
17 | LIMITED TERM NEW YORK MUNICIPAL FUND
FUND EXPENSES Continued
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BEGINNING ENDING EXPENSES
ACCOUNT ACCOUNT PAID DURING
VALUE VALUE 6 MONTHS ENDED
(1/1/07) (6/30/07) JUNE 30, 2007
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Class A Actual $ 1,000.00 $ 1,009.20 $ 4.79
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Class A Hypothetical 1,000.00 1,020.03 4.82
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Class B Actual 1,000.00 1,002.30 8.73
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Class B Hypothetical 1,000.00 1,016.12 8.79
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Class C Actual 1,000.00 1,005.40 8.64
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Class C Hypothetical 1,000.00 1,016.22 8.69
Hypothetical assumes 5% annual return before expenses.
Expenses are equal to the Fund's annualized expense ratio for that class,
multiplied by the average account value over the period, multiplied by 181/365
(to reflect the one-half year period). Those annualized expense ratios based on
the 6-month period ended June 30, 2007 are as follows:
CLASS EXPENSE RATIOS
- -----------------------------
Class A 0.96%
- -----------------------------
Class B 1.75
- -----------------------------
Class C 1.73
The expense ratio reflects reduction to custodian fees. The "Financial
Highlights" tables in the Fund's financial statements, included in this report,
also show the gross expense ratios.
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18 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS June 30, 2007 / Unaudited
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PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
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MUNICIPAL BONDS AND NOTES--104.1%
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NEW YORK--85.8%
$ 20,000 Albany County Airport Authority 5.125% 12/15/2019 12/15/2010 A $ 20,852
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785,000 Albany County Airport Authority 5.300 12/15/2009 12/15/2007 A 805,096
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160,000 Albany County Airport Authority 5.300 12/15/2015 1 12/15/2007 A 163,960
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795,000 Albany County Airport Authority 5.375 12/15/2017 12/15/2007 A 814,406
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2,375,000 Albany County Airport Authority 5.500 12/15/2019 1 12/15/2009 A 2,435,183
- --------------------------------------------------------------------------------------------------------------------
1,500,000 Albany County IDA
(Albany College of Pharmacy) 5.250 12/01/2019 12/01/2014 A 1,548,765
- --------------------------------------------------------------------------------------------------------------------
5,000 Albany GO 7.000 01/15/2010 01/01/2008 A 5,013
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250,000 Albany Hsg. Authority 6.250 10/01/2012 1 10/01/2007 A 251,143
- --------------------------------------------------------------------------------------------------------------------
200,000 Albany Hsg. Authority (Lark Drive) 5.200 12/01/2013 12/01/2010 A 205,000
- --------------------------------------------------------------------------------------------------------------------
150,000 Albany Hsg. Authority (Lark Drive) 5.400 12/01/2018 12/01/2010 A 153,420
- --------------------------------------------------------------------------------------------------------------------
100,000 Albany IDA (Albany Law School) 5.750 10/01/2030 10/01/2010 A 104,648
- --------------------------------------------------------------------------------------------------------------------
1,365,000 Albany IDA (Brighter Choice Charter School) 4.500 04/01/2018 04/01/2018 1,324,678
- --------------------------------------------------------------------------------------------------------------------
5,335,000 Albany IDA (Charitable Leadership) 2 5.500 07/01/2011 07/13/2010 B 5,511,749
- --------------------------------------------------------------------------------------------------------------------
8,810,000 Albany IDA (Charitable Leadership) 2 6.000 07/01/2019 1 07/01/2013 A 9,375,250
- --------------------------------------------------------------------------------------------------------------------
2,660,000 Albany IDA (Daughters of Sarah
Nursing Home) 5.250 10/20/2021 04/20/2014 A 2,797,203
- --------------------------------------------------------------------------------------------------------------------
1,350,000 Albany IDA (H. Johnson Office Park) 4.750 03/01/2018 03/01/2008 C 1,350,662
- --------------------------------------------------------------------------------------------------------------------
125,000 Albany IDA (University Heights-Albany
Law School) 6.750 12/01/2019 1 12/01/2009 A 132,754
- --------------------------------------------------------------------------------------------------------------------
1,935,000 Albany Municipal Water Finance Authority 5.250 12/01/2017 06/01/2008 A 1,960,658
- --------------------------------------------------------------------------------------------------------------------
200,000 Albany Municipal Water Finance Authority 2 5.250 12/01/2019 06/01/2008 A 202,600
- --------------------------------------------------------------------------------------------------------------------
2,915,000 Albany Municipal Water Finance Authority 5.250 12/01/2020 06/01/2008 A 2,952,895
- --------------------------------------------------------------------------------------------------------------------
3,235,000 Albany Municipal Water Finance Authority 5.250 12/01/2022 06/01/2008 A 3,274,046
- --------------------------------------------------------------------------------------------------------------------
2,590,000 Albany Municipal Water Finance Authority 5.250 12/01/2023 06/01/2008 A 2,621,261
- --------------------------------------------------------------------------------------------------------------------
1,110,000 Albany Parking Authority 5.625 07/15/2020 1 07/15/2011 A 1,191,896
- --------------------------------------------------------------------------------------------------------------------
890,000 Albany Parking Authority 5.625 07/15/2020 1 07/15/2011 A 934,901
- --------------------------------------------------------------------------------------------------------------------
445,000 Albany Parking Authority 5.625 07/15/2025 1 07/15/2011 A 467,281
- --------------------------------------------------------------------------------------------------------------------
140,000 Allegany County IDA (Houghton College) 2 5.000 01/15/2010 01/15/2008 A 141,973
- --------------------------------------------------------------------------------------------------------------------
4,380,000 Allegany County IDA (Houghton College) 2 5.250 01/15/2018 01/15/2008 A 4,438,342
- --------------------------------------------------------------------------------------------------------------------
1,890,000 Amherst IDA (Daemen College) 5.750 10/01/2011 11/08/2009 B 1,956,963
- --------------------------------------------------------------------------------------------------------------------
490,000 Amherst IDA (Faculty-Student Assoc. of
SUNY at Buffalo) 5.750 04/01/2016 04/01/2012 A 515,387
- --------------------------------------------------------------------------------------------------------------------
420,000 Amherst IDA (Faculty-Student Assoc. of
SUNY at Buffalo) 5.750 04/01/2017 1 04/01/2012 A 441,449
- --------------------------------------------------------------------------------------------------------------------
50,000 Arlington Central School District 5.000 12/15/2015 12/15/2009 A 51,450
- --------------------------------------------------------------------------------------------------------------------
10,000 Arlington Central School District 5.625 05/15/2022 11/15/2007 E 10,336
- --------------------------------------------------------------------------------------------------------------------
6,940,000 Babylon IDA (WSNCHS East, Inc.) 6.500 08/01/2019 1 08/01/2010 A 7,357,302
- -------------------------------------------------------------------------------------------------------------------
110,000 Batavia GO 5.000 11/01/2015 11/01/2015 114,224
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110,000 Batavia GO 5.000 11/01/2016 11/01/2015 A 113,837
- -------------------------------------------------------------------------------------------------------------------
110,000 Batavia GO 5.000 11/01/2017 11/01/2015 A 113,528
19 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS Unaudited / Continued
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PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- --------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 110,000 Batavia GO 5.000% 11/01/2018 11/01/2015 A $ 113,281
- --------------------------------------------------------------------------------------------------------------------
110,000 Batavia GO 5.000 11/01/2019 11/01/2015 A 112,897
- --------------------------------------------------------------------------------------------------------------------
110,000 Batavia GO 5.000 11/01/2020 11/01/2015 A 112,592
- --------------------------------------------------------------------------------------------------------------------
6,000,000 Battery Park City Authority, Series A 5.250 11/01/2022 11/01/2013 A 6,357,360
- --------------------------------------------------------------------------------------------------------------------
500,000 Bethlehem Water System 5.500 03/01/2022 03/01/2013 A 527,310
- --------------------------------------------------------------------------------------------------------------------
165,000 Blauvelt Volunteer Fire Company 6.000 10/15/2008 04/02/2008 B 166,959
- --------------------------------------------------------------------------------------------------------------------
645,000 Brookhaven IDA (Alternatives for Children) 7.000 02/01/2013 05/09/2010 B 666,911
- --------------------------------------------------------------------------------------------------------------------
1,125,000 Brookhaven IDA (Dowling College) 2 6.500 11/01/2012 11/01/2012 1,160,865
- --------------------------------------------------------------------------------------------------------------------
255,000 Brookhaven IDA (Stony Brook Foundation) 5.750 11/01/2008 05/05/2008 B 256,650
- --------------------------------------------------------------------------------------------------------------------
645,000 Broome County COP 5.250 04/01/2022 1 10/01/2007 A 645,768
- --------------------------------------------------------------------------------------------------------------------
10,000 Broome County GO 5.400 04/15/2011 10/15/2007 A 10,127
- --------------------------------------------------------------------------------------------------------------------
1,015,000 Bushnell Basin Fire Assoc.
(Volunteer Fire Dept.) 5.250 11/01/2015 12/14/2013 B 1,027,160
- --------------------------------------------------------------------------------------------------------------------
375,000 Capital District Youth Center 6.000 02/01/2017 08/01/2007 A 382,965
- --------------------------------------------------------------------------------------------------------------------
1,350,000 Carnegie Redevel. Corp. 3 6.500 09/01/2011 11/17/2009 B 1,351,175
- --------------------------------------------------------------------------------------------------------------------
320,000 Cattaraugus County IDA
(Olean General Hospital) 2 5.250 08/01/2023 08/01/2010 A 326,883
- --------------------------------------------------------------------------------------------------------------------
1,250,000 Chautauqua County Tobacco Asset
Securitization Corp. 6.000 07/01/2012 02/12/2010 D 1,325,938
- --------------------------------------------------------------------------------------------------------------------
1,075,000 Chautauqua County Tobacco Asset
Securitization Corp. 6.250 07/01/2016 07/01/2010 A 1,138,328
- --------------------------------------------------------------------------------------------------------------------
3,770,000 Chautauqua County Tobacco Asset
Securitization Corp. 6.500 07/01/2024 07/01/2010 A 4,007,284
- --------------------------------------------------------------------------------------------------------------------
18,160,000 Chautauqua County Tobacco Asset
Securitization Corp. 6.750 07/01/2040 07/01/2010 A 19,440,280
- --------------------------------------------------------------------------------------------------------------------
2,450,000 Clarence IDA (Bristol Village) 6.000 01/20/2044 01/20/2013 A 2,671,186
- --------------------------------------------------------------------------------------------------------------------
45,000 Clifton Park Water Authority 5.000 10/01/2029 10/01/2009 A 45,925
- --------------------------------------------------------------------------------------------------------------------
4,195,000 Cortland County IDA
(Cortland Memorial Hospital) 5.625 07/01/2024 1 07/01/2012 A 4,466,123
- --------------------------------------------------------------------------------------------------------------------
5,000 Deerfield GO 5.250 06/15/2008 06/15/2008 5,044
- --------------------------------------------------------------------------------------------------------------------
10,000 Deerfield GO 5.250 06/15/2009 06/15/2009 10,164
- --------------------------------------------------------------------------------------------------------------------
10,000 Deerfield GO 5.250 06/15/2010 06/15/2010 10,224
- --------------------------------------------------------------------------------------------------------------------
10,000 Deerfield GO 5.250 06/15/2011 06/15/2011 10,269
- --------------------------------------------------------------------------------------------------------------------
10,000 Deerfield GO 5.250 06/15/2012 06/15/2012 10,306
- --------------------------------------------------------------------------------------------------------------------
10,000 Deerfield GO 5.250 06/15/2013 06/15/2013 10,338
- --------------------------------------------------------------------------------------------------------------------
10,000 Deerfield GO 5.500 06/15/2014 06/15/2014 10,500
- --------------------------------------------------------------------------------------------------------------------
10,000 Deerfield GO 5.500 06/15/2015 06/15/2015 10,540
- --------------------------------------------------------------------------------------------------------------------
10,000 Deerfield GO 5.500 06/15/2016 06/15/2016 10,579
- --------------------------------------------------------------------------------------------------------------------
10,000 Deerfield GO 5.500 06/15/2017 06/15/2016 A 10,587
- --------------------------------------------------------------------------------------------------------------------
10,000 Deerfield GO 5.500 06/15/2018 06/15/2016 A 10,568
- --------------------------------------------------------------------------------------------------------------------
15,000 Deerfield GO 5.500 06/15/2019 06/15/2016 A 15,819
- --------------------------------------------------------------------------------------------------------------------
15,000 Deerfield GO 5.500 06/15/2020 06/15/2016 A 15,785
20 | LIMITED TERM NEW YORK MUNICIPAL FUND
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- --------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 295,000 Dutchess County IDA (Bard College) 5.500% 08/01/2020 08/01/2010 A $ 311,086
- --------------------------------------------------------------------------------------------------------------------
5,205,000 Dutchess County IDA (Marist College) 2 5.150 07/01/2017 07/01/2013 A 5,355,112
- --------------------------------------------------------------------------------------------------------------------
2,410,000 Dutchess County IDA (Vassar Brothers
Hospital) 6.500 04/01/2020 1 04/01/2010 A 2,557,926
- --------------------------------------------------------------------------------------------------------------------
25,000 East Hampton Town GO 5.000 04/15/2018 04/15/2008 A 25,474
- --------------------------------------------------------------------------------------------------------------------
515,000 East Rochester Hsg. Authority
(Gates Senior Hsg.) 5.200 04/20/2021 10/20/2013 A 533,705
- --------------------------------------------------------------------------------------------------------------------
2,800,000 East Rochester Hsg. Authority
(Rochester St. Mary's Residence Facility) 5.375 12/20/2022 1 12/20/2015 A 2,945,824
- --------------------------------------------------------------------------------------------------------------------
8,300,000 East Rochester Hsg. Authority
(St. John's Meadows) 5,000 08/15/2027 08/15/2020 A 8,467,909
- --------------------------------------------------------------------------------------------------------------------
730,000 East Rochester Hsg. Authority
(St. John's Meadows) 5.750 08/01/2037 1 08/01/2007 A 745,790
- --------------------------------------------------------------------------------------------------------------------
210,000 East Syracuse Hsg. Authority
(Bennett Manor Associates) 6.700 04/01/2021 04/01/2010 A 223,900
- --------------------------------------------------------------------------------------------------------------------
415,000 Elmira GO 5.000 10/01/2015 10/01/2015 429,380
- --------------------------------------------------------------------------------------------------------------------
440,000 Elmira GO 5.000 10/01/2016 10/01/2016 455,026
- --------------------------------------------------------------------------------------------------------------------
460,000 Elmira GO 5.000 10/01/2017 10/01/2017 474,338
- --------------------------------------------------------------------------------------------------------------------
485,000 Elmira GO 5.000 10/01/2018 10/01/2017 A 498,900
- --------------------------------------------------------------------------------------------------------------------
505,000 Elmira GO 5.000 10/01/2019 10/01/2017 A 517,564
- --------------------------------------------------------------------------------------------------------------------
1,300,000 Erie County IDA (Buffalo City School District) 5.750 05/01/2025 05/01/2014 A 1,427,530
- --------------------------------------------------------------------------------------------------------------------
6,500,000 Erie County IDA (Buffalo City School District) 5.750 05/01/2026 05/01/2014 A 7,137,650
- --------------------------------------------------------------------------------------------------------------------
1,635,000 Erie County IDA (Medaille College) 6.875 10/01/2013 10/16/2010 B 1,680,813
- --------------------------------------------------------------------------------------------------------------------
380,000 Erie County IDA (Medaille College) 7.250 11/01/2010 06/04/2009 B 390,385
- --------------------------------------------------------------------------------------------------------------------
29,615,000 Erie County Tobacco Asset Securitization Corp. 5.000 06/01/2031 06/01/2015 A 29,835,336
- --------------------------------------------------------------------------------------------------------------------
9,750,000 Erie County Tobacco Asset Securitization Corp. 5.000 06/01/2038 06/01/2015 A 9,822,540
- --------------------------------------------------------------------------------------------------------------------
1,635,000 Erie County Tobacco Asset Securitization Corp. 5.750 07/15/2013 07/15/2010 E 1,733,852
- --------------------------------------------------------------------------------------------------------------------
7,595,000 Erie County Tobacco Asset Securitization Corp. 6.000 07/15/2020 07/15/2010 E 8,108,118
- --------------------------------------------------------------------------------------------------------------------
250,000 Essex County IDA (International Paper
Company) 6.450 11/15/2023 11/15/2009 A 261,525
- --------------------------------------------------------------------------------------------------------------------
690,000 Essex County IDA (North Country
Community College Foundation) 4.600 06/01/2015 12/25/2013 B 686,219
- --------------------------------------------------------------------------------------------------------------------
540,000 Franklin County IDA (North Country
Community College Foundation) 4.600 06/01/2015 12/24/2013 B 537,041
- --------------------------------------------------------------------------------------------------------------------
1,000,000 Grand Central BID (Grand Central
District Management) 5.000 01/01/2021 01/01/2014 A 1,043,390
- --------------------------------------------------------------------------------------------------------------------
500,000 Grand Central BID (Grand Central
District Management) 5.000 01/01/2022 01/01/2014 A 521,695
- --------------------------------------------------------------------------------------------------------------------
500,000 Hamilton County IDA (Adirondack
Historical Assoc.) 5.250 11/01/2018 11/01/2008 A 512,020
- --------------------------------------------------------------------------------------------------------------------
1,700,000 Hempstead IDA (Adelphi University) 2 5.750 06/01/2022 1 06/01/2012 A 1,820,309
- --------------------------------------------------------------------------------------------------------------------
1,350,000 Hempstead IDA (Hofstra University) 2 5.800 07/01/2015 01/01/2008 A 1,376,784
- --------------------------------------------------------------------------------------------------------------------
75,000 Hempstead Village GO 5.000 09/15/2017 09/15/2016 A 77,244
21 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- --------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 500,000 Hempstead Village GO 5.000% 07/01/2018 07/01/2014 A $ 511,560
- --------------------------------------------------------------------------------------------------------------------
75,000 Hempstead Village GO 5.000 09/15/2018 09/15/2016 A 77,170
- --------------------------------------------------------------------------------------------------------------------
1,195,000 Hempstead Village GO 5.000 07/01/2019 07/01/2014 A 1,219,760
- --------------------------------------------------------------------------------------------------------------------
75,000 Hempstead Village GO 5.000 09/15/2019 09/15/2016 A 76,943
- --------------------------------------------------------------------------------------------------------------------
75,000 Hempstead Village GO 5.000 09/15/2020 09/15/2016 A 76,718
- --------------------------------------------------------------------------------------------------------------------
75,000 Hempstead Village GO 5.000 09/15/2021 09/15/2016 A 76,605
- --------------------------------------------------------------------------------------------------------------------
75,000 Hempstead Village GO 5.000 09/15/2022 09/15/2016 A 76,549
- --------------------------------------------------------------------------------------------------------------------
75,000 Hempstead Village GO 5.000 09/15/2023 09/15/2016 A 76,493
- --------------------------------------------------------------------------------------------------------------------
1,635,000 Hempstead Village GO 5.250 07/01/2023 07/01/2014 A 1,687,157
- --------------------------------------------------------------------------------------------------------------------
1,730,000 Hempstead Village GO 5.250 07/01/2024 07/01/2014 A 1,784,149
- --------------------------------------------------------------------------------------------------------------------
60,000 Herkimer County GO 5.000 09/15/2012 09/15/2012 60,200
- --------------------------------------------------------------------------------------------------------------------
40,000 Herkimer County GO 5.000 09/15/2012 09/15/2007 A 40,100
- --------------------------------------------------------------------------------------------------------------------
895,000 Herkimer County IDA (Burrows Paper) 2 8.000 01/01/2009 01/01/2008 A 896,880
- --------------------------------------------------------------------------------------------------------------------
480,000 Herkimer County IDA (Herkimer County
College Foundation) 5.850 11/01/2010 05/28/2009 B 491,107
- --------------------------------------------------------------------------------------------------------------------
1,390,000 Herkimer Hsg. Authority 7.150 03/01/2011 09/01/2007 A 1,392,836
- --------------------------------------------------------------------------------------------------------------------
65,000 Hudson IDA (Have, Inc.) 2 7.125 12/01/2007 12/01/2007 65,678
- --------------------------------------------------------------------------------------------------------------------
325,000 Hudson IDA (Hudson Fabrics) 2 6.000 11/01/2012 04/10/2010 B 329,859
- --------------------------------------------------------------------------------------------------------------------
3,500,000 Islip IDA (United Cerebral Palsy Assoc.) 3 5.500 12/01/2016 01/17/2013 B 3,467,660
- --------------------------------------------------------------------------------------------------------------------
410,000 Islip IDA (United Cerebral Palsy Assoc.) 5.500 12/01/2016 01/17/2013 B 406,212
- --------------------------------------------------------------------------------------------------------------------
15,000 Islip Res Rec, Series D 6.500 07/01/2009 01/01/2008 A 15,188
- --------------------------------------------------------------------------------------------------------------------
2,990,000 Islip Res Rec, Series E 5.625 07/01/2017 07/01/2014 A 3,241,908
- --------------------------------------------------------------------------------------------------------------------
1,175,000 Islip Res Rec, Series E 5.750 07/01/2019 07/01/2014 A 1,273,230
- --------------------------------------------------------------------------------------------------------------------
250,000 Jamestown GO 5.000 08/01/2024 08/01/2014 A 257,428
- --------------------------------------------------------------------------------------------------------------------
250,000 Jamestown GO 5.000 08/01/2025 08/01/2014 A 256,818
- --------------------------------------------------------------------------------------------------------------------
1,575,000 Jamestown Hsg. Authority 6.125 07/01/2010 02/01/2009 B 1,553,013
- --------------------------------------------------------------------------------------------------------------------
1,000,000 Kenmore Hsg. Authority (SUNY at Buffalo) 5.500 08/01/2024 08/01/2011 A 1,041,070
- --------------------------------------------------------------------------------------------------------------------
2,210,000 Livingston County IDA (Nicholas H. Noyes
Memorial Hospital) 5.875 07/01/2022 07/01/2010 A 2,275,129
- --------------------------------------------------------------------------------------------------------------------
1,010,000 Livingston County IDA (Nicholas H. Noyes
Memorial Hospital) 6.000 07/01/2030 07/01/2010 A 1,040,411
- --------------------------------------------------------------------------------------------------------------------
70,000 Livonia GO 5.000 06/15/2020 06/15/2017 A 72,755
- --------------------------------------------------------------------------------------------------------------------
75,000 Livonia GO 5.000 06/15/2021 06/15/2017 A 77,708
- --------------------------------------------------------------------------------------------------------------------
80,000 Livonia GO 5.000 06/15/2022 06/15/2017 A 82,436
- --------------------------------------------------------------------------------------------------------------------
85,000 Livonia GO 5.000 06/15/2023 06/15/2017 A 87,451
- --------------------------------------------------------------------------------------------------------------------
90,000 Livonia GO 5.000 06/15/2024 06/15/2017 A 92,379
- --------------------------------------------------------------------------------------------------------------------
75,000 Livonia GO 5.000 06/15/2025 06/15/2017 A 76,742
- --------------------------------------------------------------------------------------------------------------------
75,000 Lowville GO 7.200 09/15/2007 09/15/2007 75,477
- --------------------------------------------------------------------------------------------------------------------
2,065,000 Madison County IDA (Morrisville State
College Foundation) 5.000 06/01/2022 06/01/2016 A 2,153,217
- --------------------------------------------------------------------------------------------------------------------
2,260,000 Madison County IDA
(Oneida Healthcare Center) 5.500 02/01/2016 02/01/2011 A 2,366,695
22 | LIMITED TERM NEW YORK MUNICIPAL FUND
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- --------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 155,000 Medina Hsg. Corp. 8.250% 08/15/2011 1 08/15/2007 A $ 155,316
- --------------------------------------------------------------------------------------------------------------------
3,395,000 Monroe County COP 8.050 01/01/2011 1 01/01/2008 A 3,447,724
- --------------------------------------------------------------------------------------------------------------------
50,000 Monroe County GO 5.000 06/01/2017 12/01/2007 A 50,523
- --------------------------------------------------------------------------------------------------------------------
75,000 Monroe County GO 5.350 03/01/2012 09/01/2007 A 75,814
- --------------------------------------------------------------------------------------------------------------------
40,000 Monroe County GO 6.100 03/01/2008 09/01/2007 A 40,158
- --------------------------------------------------------------------------------------------------------------------
510,000 Monroe County IDA (Canal Ponds) 2 7.000 06/15/2013 1 12/15/2007 A 521,939
- --------------------------------------------------------------------------------------------------------------------
1,285,000 Monroe County IDA (DePaul Community
Facilities) 2 6.500 02/01/2024 1 02/01/2008 A 1,287,583
- --------------------------------------------------------------------------------------------------------------------
210,000 Monroe County IDA (DePaul Properties) 5.900 09/01/2007 09/01/2007 209,933
- --------------------------------------------------------------------------------------------------------------------
75,000 Monroe County IDA (Nazareth College
of Rochester) 5.250 10/01/2021 10/01/2011 A 79,038
- --------------------------------------------------------------------------------------------------------------------
25,000 Monroe County IDA (Rochester Institute
of Technology) 5.000 04/01/2010 04/01/2010 25,277
- --------------------------------------------------------------------------------------------------------------------
365,000 Monroe County IDA (Summit at Brighton) 5.000 07/01/2016 07/01/2011 A 366,245
- --------------------------------------------------------------------------------------------------------------------
2,055,000 Monroe County IDA
(West End Business Center) 2 5.125 12/01/2014 05/29/2011 B 2,072,468
- --------------------------------------------------------------------------------------------------------------------
13,810,000 Monroe County Tobacco Asset Securitization
Corp. (TASC) 6.150 06/01/2025 10/17/2009 D 14,594,822
- --------------------------------------------------------------------------------------------------------------------
60,000 Monroe County Water Authority 5.250 08/01/2011 02/01/2008 A 60,070
- --------------------------------------------------------------------------------------------------------------------
285,000 Monroe Newpower Corp. 4.500 01/01/2011 10/01/2010 B 284,040
- --------------------------------------------------------------------------------------------------------------------
155,000 Monroe Newpower Corp. 4.700 01/01/2012 10/01/2011 B 155,680
- --------------------------------------------------------------------------------------------------------------------
410,000 Monroe Newpower Corp. 4.800 01/01/2013 10/01/2012 B 413,768
- --------------------------------------------------------------------------------------------------------------------
7,800,000 Monroe Newpower Corp. 2 6.375 01/01/2024 07/01/2009 A 8,180,172
- --------------------------------------------------------------------------------------------------------------------
280,000 Mount Vernon IDA (Kings Court) 5.125 12/01/2023 01/21/2022 B 280,426
- --------------------------------------------------------------------------------------------------------------------
975,000 Mount Vernon IDA (Macedonia Towers) 5.125 12/01/2023 01/18/2022 B 976,482
- --------------------------------------------------------------------------------------------------------------------
185,000 Mount Vernon IDA (Meadowview) 6.000 06/01/2009 06/16/2008 B 187,936
- --------------------------------------------------------------------------------------------------------------------
5,275,000 Mount Vernon IDA (Section 8), Series A 2 5.250 12/01/2014 1 06/01/2008 A 5,415,579
- --------------------------------------------------------------------------------------------------------------------
55,000 MTA Commuter Facilities
(Grand Central Terminal) 5.500 07/01/2012 01/01/2008 E 55,072
- --------------------------------------------------------------------------------------------------------------------
25,000 MTA Commuter Facilities, Series 7 5.625 07/01/2016 1 01/01/2008 E 25,630
- --------------------------------------------------------------------------------------------------------------------
10,000 MTA Commuter Facilities, Series B 5.000 07/01/2017 07/01/2009 E 10,209
- --------------------------------------------------------------------------------------------------------------------
120,000 MTA Commuter Facilities, Series B 5.125 07/01/2024 01/01/2008 A 122,518
- --------------------------------------------------------------------------------------------------------------------
5,000 MTA Commuter Facilities, Series D 5.000 07/01/2016 01/01/2008 E 5,122
- --------------------------------------------------------------------------------------------------------------------
50,000 MTA Service Contract, Series 3 7.375 07/01/2008 01/06/2008 B 50,833
- --------------------------------------------------------------------------------------------------------------------
8,500,000 MTA Service Contract, Series A 5.125 01/01/2024 07/01/2012 A 8,849,690
- --------------------------------------------------------------------------------------------------------------------
15,350,000 MTA Service Contract, Series A 2 5.750 07/01/2031 07/01/2012 A 16,435,552
- --------------------------------------------------------------------------------------------------------------------
16,710,000 MTA, Series A 2 5.000 11/15/2026 11/15/2016 A 17,297,357
- --------------------------------------------------------------------------------------------------------------------
4,100,000 MTA, Series A 5.125 11/15/2031 11/15/2012 A 4,228,289
- --------------------------------------------------------------------------------------------------------------------
11,075,000 MTA, Series A 2 5.500 11/15/2026 11/15/2012 A 11,772,061
- --------------------------------------------------------------------------------------------------------------------
25,000,000 MTA, Series A 5.750 11/15/2032 11/15/2012 A 26,759,750
- --------------------------------------------------------------------------------------------------------------------
55,000 MTA, Series B 5.000 07/01/2020 1 01/01/2008 A 56,152
- --------------------------------------------------------------------------------------------------------------------
2,000,000 MTA, Series B-2 5.000 07/01/2017 01/01/2008 A 2,041,700
23 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ---------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 50,000 MTA, Series E 5.500% 11/15/2021 11/15/2012 A $ 53,507
- ---------------------------------------------------------------------------------------------------------------------
50,000 Municipal Assistance Corp. for Troy 5.000 01/15/2016 01/15/2008 A 50,796
- ---------------------------------------------------------------------------------------------------------------------
300,000 Nassau County Bridge Authority 5.250 10/01/2026 10/01/2007 A 306,873
- ---------------------------------------------------------------------------------------------------------------------
645,000 Nassau County IDA (ACDS) 6.000 12/01/2019 12/02/2016 A 661,190
- ---------------------------------------------------------------------------------------------------------------------
475,000 Nassau County IDA (ALIA-ACDS) 7.000 10/01/2016 11/01/2011 A 508,193
- ---------------------------------------------------------------------------------------------------------------------
830,000 Nassau County IDA (ALIA-ACLD) 5.750 09/01/2011 02/03/2010 B 848,260
- ---------------------------------------------------------------------------------------------------------------------
705,000 Nassau County IDA (ALIA-CMA) 7.000 10/01/2016 11/01/2011 A 754,265
- ---------------------------------------------------------------------------------------------------------------------
545,000 Nassau County IDA (ALIA-CRR) 7.000 10/01/2016 11/01/2011 A 583,085
- ---------------------------------------------------------------------------------------------------------------------
120,000 Nassau County IDA (ALIA-FREE) 7.000 10/01/2016 11/01/2011 A 128,386
- ---------------------------------------------------------------------------------------------------------------------
495,000 Nassau County IDA (ALIA-HKSB) 7.000 10/01/2016 11/01/2011 A 529,591
- ---------------------------------------------------------------------------------------------------------------------
1,870,000 Nassau County IDA (CSMR) 2 6.000 12/01/2019 12/03/2016 A 1,916,937
- ---------------------------------------------------------------------------------------------------------------------
795,000 Nassau County IDA (Epilepsy Foundation
of Long Island) 6.000 12/01/2019 12/05/2016 A 814,907
- ---------------------------------------------------------------------------------------------------------------------
80,000 Nassau County IDA (North Shore CFGA) 5.750 05/01/2008 11/05/2007 B 80,583
- ---------------------------------------------------------------------------------------------------------------------
230,000 Nassau County IDA (United Cerebral Palsy) 5.750 11/01/2007 11/01/2007 230,741
- ---------------------------------------------------------------------------------------------------------------------
1,125,000 Nassau County IDA (United Cerebral Palsy) 5.750 11/01/2009 11/06/2008 B 1,127,756
- ---------------------------------------------------------------------------------------------------------------------
520,000 Nassau County IDA (WORCA) 6.000 12/01/2019 12/01/2016 A 533,021
- ---------------------------------------------------------------------------------------------------------------------
145,000 Nassau County IDA, Series C 6.000 12/01/2019 12/04/2016 A 148,631
- ---------------------------------------------------------------------------------------------------------------------
680,000 Nassau County Interim Finance Authority 5.125 11/15/2021 11/15/2007 A 683,550
- ---------------------------------------------------------------------------------------------------------------------
80,000 Nassau County Interim Finance Authority 5.375 11/15/2012 11/15/2007 A 80,471
- ---------------------------------------------------------------------------------------------------------------------
35,000 Nassau County Interim Finance Authority 5.375 11/15/2013 11/15/2007 A 35,206
- ---------------------------------------------------------------------------------------------------------------------
21,000,000 Nassau County Tobacco Settlement Corp. 0.000 4 06/01/2026 12/03/2015 B 19,161,660
- ---------------------------------------------------------------------------------------------------------------------
725,000 Nassau County Tobacco Settlement Corp. 6.000 07/15/2017 07/15/2009 F 762,425
- ---------------------------------------------------------------------------------------------------------------------
25,000 Nassau County Tobacco Settlement Corp. 6.000 07/15/2018 07/15/2009 A 26,291
- ---------------------------------------------------------------------------------------------------------------------
5,440,000 Nassau County Tobacco Settlement Corp. 6.125 07/15/2018 07/15/2009 A 5,737,350
- ---------------------------------------------------------------------------------------------------------------------
125,000 Nassau County Tobacco Settlement Corp. 6.200 07/15/2018 07/15/2009 A 131,939
- ---------------------------------------------------------------------------------------------------------------------
4,125,000 Nassau County Tobacco Settlement Corp. 6.250 07/15/2020 1 07/15/2009 A 4,358,021
- ---------------------------------------------------------------------------------------------------------------------
3,620,000 Nassau County Tobacco Settlement Corp. 6.250 07/15/2020 07/15/2009 A 3,824,494
- ---------------------------------------------------------------------------------------------------------------------
2,255,000 Nassau County Tobacco Settlement Corp. 6.250 07/15/2021 07/15/2009 A 2,382,385
- ---------------------------------------------------------------------------------------------------------------------
4,925,000 Nassau County Tobacco Settlement Corp. 6.300 07/15/2021 07/15/2009 A 5,207,991
- ---------------------------------------------------------------------------------------------------------------------
1,320,000 Nassau County Tobacco Settlement Corp. 6.300 07/15/2022 07/15/2009 A 1,395,847
- ---------------------------------------------------------------------------------------------------------------------
15,050,000 Nassau County Tobacco Settlement Corp. 6.500 07/15/2027 07/15/2009 A 15,973,468
- ---------------------------------------------------------------------------------------------------------------------
5,000,000 Nassau County Tobacco Settlement Corp. 2 6.600 07/15/2039 07/15/2009 A 5,316,550
- ---------------------------------------------------------------------------------------------------------------------
12,000,000 Nassau County Tobacco Settlement Corp.
(TASC) 5.000 06/01/2035 06/01/2016 A 12,075,960
- ---------------------------------------------------------------------------------------------------------------------
285,000 Nassau IDA (EBS North Hills LLC) 7.000 11/01/2013 12/28/2010 B 297,506
- ---------------------------------------------------------------------------------------------------------------------
130,000 Nassau IDA (EBS North Hills LLC) 7.000 11/01/2013 12/28/2010 B 135,704
- ---------------------------------------------------------------------------------------------------------------------
170,000 Nassau IDA (EBS North Hills LLC) 7.000 11/01/2013 12/28/2010 B 177,460
- ---------------------------------------------------------------------------------------------------------------------
185,000 Nassau IDA (EBS North Hills LLC) 7.000 11/01/2013 03/28/2011 B 193,118
- ---------------------------------------------------------------------------------------------------------------------
185,000 Nassau IDA (EBS North Hills LLC) 7.000 11/01/2013 03/28/2011 B 193,118
- ---------------------------------------------------------------------------------------------------------------------
50,000 New Hartford-Sunset Wood Funding Corp. 5.950 08/01/2027 08/01/2007 A 51,044
24 | LIMITED TERM NEW YORK MUNICIPAL FUND
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ---------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 1,235,000 New Rochelle IDA (College of New Rochelle) 5.500% 07/01/2019 07/01/2009 A $ 1,279,114
- ---------------------------------------------------------------------------------------------------------------------
190,000 New Rochelle Municipal Hsg. Authority,
Series A 5.000 12/01/2008 03/09/2008 B 191,606
- ---------------------------------------------------------------------------------------------------------------------
80,000 New Rochelle Municipal Hsg. Authority,
Series B 6.500 12/01/2014 12/01/2008 E 84,581
- ---------------------------------------------------------------------------------------------------------------------
15,000 New Windsor GO 5.300 05/01/2010 11/01/2007 A 15,189
- ---------------------------------------------------------------------------------------------------------------------
1,465,000 Newark-Wayne Community Hospital 7.600 09/01/2015 09/01/2007 A 1,467,007
- ---------------------------------------------------------------------------------------------------------------------
10,000 Newburgh GO 7.600 04/01/2008 10/01/2007 A 10,095
- ---------------------------------------------------------------------------------------------------------------------
1,345,000 Newburgh IDA (Bourne & Kenney Redevel.
Company) 5.650 08/01/2020 1 08/01/2009 A 1,378,934
- ---------------------------------------------------------------------------------------------------------------------
150,000 Niagara County IDA (American Ref-Fuel
Company) 5.550 11/15/2024 11/15/2011 A 155,513
- ---------------------------------------------------------------------------------------------------------------------
1,350,000 Niagara County IDA (Niagara Falls Memorial
Medical Center) 5.250 06/01/2018 10/04/2016 B 1,341,104
- ---------------------------------------------------------------------------------------------------------------------
13,560,000 Niagara County IDA (Niagara Falls Memorial
Medical Center) 5.500 11/01/2035 12/28/2007 C 13,859,405
- ---------------------------------------------------------------------------------------------------------------------
5,000,000 Niagara County IDA (Solid Waste Disposal) 5.450 11/15/2025 11/15/2012 A 5,180,900
- ---------------------------------------------------------------------------------------------------------------------
8,710,000 Niagara County IDA (Solid Waste Disposal) 5.550 11/15/2024 11/15/2011 A 9,065,281
- ---------------------------------------------------------------------------------------------------------------------
9,850,000 Niagara County IDA (Solid Waste Disposal) 5.625 11/15/2024 11/15/2012 A 10,206,964
- ---------------------------------------------------------------------------------------------------------------------
170,000 Niagara County Tobacco Asset
Securitization Corp. 5.375 05/15/2018 05/15/2009 F 175,707
- ---------------------------------------------------------------------------------------------------------------------
175,000 Niagara County Tobacco Asset
Securitization Corp. 5.500 05/15/2019 05/15/2011 A 181,235
- ---------------------------------------------------------------------------------------------------------------------
90,000 Niagara County Tobacco Asset
Securitization Corp. 5.500 05/15/2020 05/15/2011 A 93,290
- ---------------------------------------------------------------------------------------------------------------------
1,175,000 Niagara County Tobacco Asset
Securitization Corp. 5.875 05/15/2022 05/15/2011 A 1,228,651
- ---------------------------------------------------------------------------------------------------------------------
1,045,000 Niagara County Tobacco Asset
Securitization Corp. 6.250 05/15/2034 11/15/2010 A 1,103,844
- ---------------------------------------------------------------------------------------------------------------------
945,000 Niagara County Tobacco Asset
Securitization Corp. 6.250 05/15/2040 05/15/2010 A 998,213
- ---------------------------------------------------------------------------------------------------------------------
11,995,000 Niagara County Tobacco Asset
Securitization Corp. 6.750 05/15/2029 1 05/15/2010 A 12,823,974
- ---------------------------------------------------------------------------------------------------------------------
10,000 Niagara Falls HDC (Niagara Towers) 5.150 10/01/2010 10/01/2008 A 10,110
- ---------------------------------------------------------------------------------------------------------------------
1,000,000 Niagara Falls Public Water Authority 5.500 07/15/2034 07/15/2015 A 1,085,030
- ---------------------------------------------------------------------------------------------------------------------
35,000 Niagara Frontier Transportation Authority
(Buffalo Niagara International Airport) 5.000 04/01/2013 04/01/2008 A 35,537
- ---------------------------------------------------------------------------------------------------------------------
5,460,000 Niagara Frontier Transportation Authority
(Buffalo Niagara International Airport) 5.625 04/01/2029 1 04/01/2009 A 5,643,074
- ---------------------------------------------------------------------------------------------------------------------
210,000 Niagara Frontier Transportation Authority
(Buffalo Niagara International Airport) 5.750 04/01/2019 04/01/2009 A 218,314
- ---------------------------------------------------------------------------------------------------------------------
610,000 North Babylon Volunteer Fire Company 5.750 08/01/2022 08/01/2007 A 629,166
- ---------------------------------------------------------------------------------------------------------------------
25,000 North Elba GO 5.400 06/01/2009 12/01/2007 A 25,170
- ---------------------------------------------------------------------------------------------------------------------
9,625,000 NY Counties Tobacco Trust I 6.300 06/01/2019 1 06/01/2010 E 10,358,040
25 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ---------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 4,670,000 NY Counties Tobacco Trust I 6.300% 06/01/2019 1 06/01/2010 A $ 4,946,464
- ---------------------------------------------------------------------------------------------------------------------
8,650,000 NY Counties Tobacco Trust I 6.500 06/01/2035 06/01/2010 E 9,356,100
- ---------------------------------------------------------------------------------------------------------------------
4,295,000 NY Counties Tobacco Trust I 6.500 06/01/2035 06/01/2010 A 4,568,935
- ---------------------------------------------------------------------------------------------------------------------
3,295,000 NY Counties Tobacco Trust I 6.625 06/01/2042 1 06/01/2010 A 3,525,650
- ---------------------------------------------------------------------------------------------------------------------
21,415,000 NY Counties Tobacco Trust II (TASC) 5.250 06/01/2025 03/17/2011 D 22,003,913
- ---------------------------------------------------------------------------------------------------------------------
150,000 NY Counties Tobacco Trust II (TASC) 5.500 06/01/2011 06/01/2011 157,616
- ---------------------------------------------------------------------------------------------------------------------
865,000 NY Counties Tobacco Trust II (TASC) 5.625 06/01/2035 06/01/2012 A 902,342
- ---------------------------------------------------------------------------------------------------------------------
1,055,000 NY Counties Tobacco Trust II (TASC) 5.750 06/01/2013 06/01/2011 A 1,124,419
- ---------------------------------------------------------------------------------------------------------------------
1,925,000 NY Counties Tobacco Trust II (TASC) 2 5.750 06/01/2014 06/01/2011 A 2,043,773
- ---------------------------------------------------------------------------------------------------------------------
750,000 NY Counties Tobacco Trust II (TASC) 5.750 06/01/2043 06/01/2012 A 784,815
- ---------------------------------------------------------------------------------------------------------------------
2,120,000 NY Counties Tobacco Trust II (TASC) 6.000 06/01/2015 06/01/2011 A 2,262,634
- ---------------------------------------------------------------------------------------------------------------------
2,330,000 NY Counties Tobacco Trust II (TASC) 2 6.000 06/01/2016 06/01/2011 A 2,478,095
- ---------------------------------------------------------------------------------------------------------------------
10,175,000 NY Counties Tobacco Trust III 2 5.000 06/01/2027 05/19/2009 D 10,385,114
- ---------------------------------------------------------------------------------------------------------------------
4,980,000 NY Counties Tobacco Trust III 5.750 06/01/2033 09/26/2012 D 5,268,442
- ---------------------------------------------------------------------------------------------------------------------
16,535,000 NY Counties Tobacco Trust III 6.000 06/01/2043 06/01/2013 A 17,736,598
- ---------------------------------------------------------------------------------------------------------------------
4,405,000 NY Counties Tobacco Trust IV 4.250 06/01/2021 12/14/2011 B 4,337,956
- ---------------------------------------------------------------------------------------------------------------------
38,400,000 NY Counties Tobacco Trust IV (TASC) 0.000 4 06/01/2041 08/03/2019 B 32,098,176
- ---------------------------------------------------------------------------------------------------------------------
4,520,000 NY Counties Tobacco Trust IV (TASC) 4.750 06/01/2026 10/12/2009 D 4,557,878
- ---------------------------------------------------------------------------------------------------------------------
38,400,000 NY Counties Tobacco Trust IV (TASC) 6.650 06/01/2041 06/01/2010 A 5,925,120
- ---------------------------------------------------------------------------------------------------------------------
29,000,000 NYC GO 5 5.000 06/01/2023 06/01/2015 A 30,005,141
- ---------------------------------------------------------------------------------------------------------------------
50,000 NYC GO 0.000 4 03/15/2029 03/15/2011 A 45,223
- ---------------------------------------------------------------------------------------------------------------------
20,000 NYC GO 0.000 4 11/15/2037 11/15/2007 A 19,745
- ---------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 5.000 08/01/2015 08/01/2008 A 15,313
- ---------------------------------------------------------------------------------------------------------------------
20,000 NYC GO 5.000 08/15/2016 08/15/2008 A 20,424
- ---------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 5.000 05/15/2018 05/15/2008 A 15,291
- ---------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 5.000 05/15/2018 05/15/2008 A 5,107
- ---------------------------------------------------------------------------------------------------------------------
20,000 NYC GO 5.000 08/01/2018 02/01/2008 A 20,327
- ---------------------------------------------------------------------------------------------------------------------
435,000 NYC GO 5.000 08/01/2018 02/01/2008 A 440,951
- ---------------------------------------------------------------------------------------------------------------------
50,000 NYC GO 5.000 08/15/2018 08/15/2008 A 50,850
- ---------------------------------------------------------------------------------------------------------------------
1,055,000 NYC GO 5.000 12/01/2018 12/01/2014 A 1,099,426
- ---------------------------------------------------------------------------------------------------------------------
90,000 NYC GO 5.000 08/15/2019 08/15/2008 A 91,530
- ---------------------------------------------------------------------------------------------------------------------
425,000 NYC GO 5.000 08/01/2020 08/01/2014 A 440,632
- ---------------------------------------------------------------------------------------------------------------------
570,000 NYC GO 5.000 03/15/2021 03/15/2009 A 580,688
- ---------------------------------------------------------------------------------------------------------------------
4,000,000 NYC GO 5.000 08/01/2021 08/01/2015 A 4,152,040
- ---------------------------------------------------------------------------------------------------------------------
25,000 NYC GO 5.000 08/01/2022 08/01/2008 A 25,508
- ---------------------------------------------------------------------------------------------------------------------
1,500,000 NYC GO 5.000 08/01/2022 08/01/2015 A 1,554,960
- ---------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 5.000 08/01/2022 08/01/2008 A 10,203
- ---------------------------------------------------------------------------------------------------------------------
110,000 NYC GO 5.000 08/01/2022 02/01/2009 A 111,932
- ---------------------------------------------------------------------------------------------------------------------
85,000 NYC GO 5.000 08/01/2022 02/01/2008 A 86,340
- ---------------------------------------------------------------------------------------------------------------------
25,000 NYC GO 5.000 08/01/2022 02/01/2008 A 25,321
- ---------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 5.000 08/01/2022 08/01/2008 A 10,203
26 | LIMITED TERM NEW YORK MUNICIPAL FUND
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ---------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 1,000,000 NYC GO 5.000% 08/01/2022 08/01/2015 A $ 1,036,640
- ---------------------------------------------------------------------------------------------------------------------
65,000 NYC GO 5.000 08/01/2022 08/01/2010 A 65,989
- ---------------------------------------------------------------------------------------------------------------------
30,000 NYC GO 5.000 08/15/2022 08/15/2008 A 30,729
- ---------------------------------------------------------------------------------------------------------------------
175,000 NYC GO 5.000 08/15/2022 08/15/2008 A 177,975
- ---------------------------------------------------------------------------------------------------------------------
40,000 NYC GO 5.000 09/15/2022 09/15/2013 A 41,278
- ---------------------------------------------------------------------------------------------------------------------
2,500,000 NYC GO 5.000 11/01/2022 11/01/2014 A 2,587,525
- ---------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 5.000 05/15/2023 05/15/2008 A 15,276
- ---------------------------------------------------------------------------------------------------------------------
50,000 NYC GO 5.000 08/01/2023 02/01/2008 A 50,789
- ---------------------------------------------------------------------------------------------------------------------
4,000,000 NYC GO 5.000 08/01/2023 08/01/2015 A 4,141,040
- ---------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 5.000 08/01/2023 02/01/2008 A 10,176
- ---------------------------------------------------------------------------------------------------------------------
1,105,000 NYC GO 5.000 08/01/2023 02/01/2008 A 1,120,116
- ---------------------------------------------------------------------------------------------------------------------
1,000,000 NYC GO 5.000 08/01/2023 08/01/2015 A 1,035,260
- ---------------------------------------------------------------------------------------------------------------------
250,000 NYC GO 5.000 08/01/2023 08/01/2008 A 253,738
- ---------------------------------------------------------------------------------------------------------------------
615,000 NYC GO 5.000 08/01/2023 08/01/2015 A 636,685
- ---------------------------------------------------------------------------------------------------------------------
10,000,000 NYC GO 5.000 08/15/2023 08/15/2014 A 10,335,400
- ---------------------------------------------------------------------------------------------------------------------
6,750,000 NYC GO 5.000 11/01/2023 11/01/2014 A 6,977,745
- ---------------------------------------------------------------------------------------------------------------------
11,340,000 NYC GO 5.000 12/01/2023 12/01/2014 A 11,708,437
- ---------------------------------------------------------------------------------------------------------------------
90,000 NYC GO 5.000 04/15/2024 04/15/2009 A 92,298
- ---------------------------------------------------------------------------------------------------------------------
15,000,000 NYC GO 5.000 06/01/2024 06/01/2016 A 15,551,250
- ---------------------------------------------------------------------------------------------------------------------
1,150,000 NYC GO 5.000 08/01/2024 08/01/2015 A 1,188,974
- ---------------------------------------------------------------------------------------------------------------------
3,040,000 NYC GO 5.000 08/01/2024 08/01/2015 A 3,143,026
- ---------------------------------------------------------------------------------------------------------------------
8,000,000 NYC GO 5.000 08/01/2024 02/01/2016 A 8,284,880
- ---------------------------------------------------------------------------------------------------------------------
5,000,000 NYC GO 5.000 09/01/2024 09/01/2015 A 5,170,800
- ---------------------------------------------------------------------------------------------------------------------
3,650,000 NYC GO 5.000 12/01/2024 12/01/2014 A 3,763,953
- ---------------------------------------------------------------------------------------------------------------------
1,000,000 NYC GO 5.000 02/01/2025 02/01/2017 A 1,037,370
- ---------------------------------------------------------------------------------------------------------------------
6,000,000 NYC GO 5.000 06/01/2025 06/01/2015 A 6,191,820
- ---------------------------------------------------------------------------------------------------------------------
1,000,000 NYC GO 5.000 08/01/2025 08/01/2015 A 1,032,520
- ---------------------------------------------------------------------------------------------------------------------
5,335,000 NYC GO 5.000 09/01/2025 09/01/2015 A 5,509,881
- ---------------------------------------------------------------------------------------------------------------------
1,000,000 NYC GO 5.000 12/01/2025 12/01/2014 A 1,029,950
- ---------------------------------------------------------------------------------------------------------------------
5,000,000 NYC GO 5.000 04/01/2026 04/01/2015 A 5,150,250
- ---------------------------------------------------------------------------------------------------------------------
6,920,000 NYC GO 5.000 08/01/2026 08/01/2015 A 7,135,558
- ---------------------------------------------------------------------------------------------------------------------
5,000,000 NYC GO 5.000 08/01/2026 08/01/2015 A 5,155,750
- ---------------------------------------------------------------------------------------------------------------------
4,000,000 NYC GO 5.000 08/01/2026 08/01/2015 A 4,124,600
- ---------------------------------------------------------------------------------------------------------------------
1,830,000 NYC GO 5.000 11/01/2027 11/01/2014 A 1,884,809
- ---------------------------------------------------------------------------------------------------------------------
125,000 NYC GO 5.000 03/15/2029 03/15/2009 A 126,871
- ---------------------------------------------------------------------------------------------------------------------
90,000 NYC GO 5.000 03/15/2029 03/15/2009 A 91,562
- ---------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 5.000 04/15/2029 04/15/2009 A 10,177
- ---------------------------------------------------------------------------------------------------------------------
6,450,000 NYC GO 5.000 03/01/2030 03/01/2015 A 6,637,050
- ---------------------------------------------------------------------------------------------------------------------
270,000 NYC GO 5.100 08/15/2027 08/15/2014 A 279,955
- ---------------------------------------------------------------------------------------------------------------------
195,000 NYC GO 5.125 08/01/2011 02/01/2008 A 198,243
- ---------------------------------------------------------------------------------------------------------------------
115,000 NYC GO 5.125 08/01/2018 08/01/2008 A 117,080
27 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ----------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 10,000 NYC GO 5.125% 03/15/2019 03/15/2009 A $ 10,319
- ----------------------------------------------------------------------------------------------------------------------
8,360,000 NYC GO 5.125 08/01/2022 02/01/2009 A 8,463,246
- ----------------------------------------------------------------------------------------------------------------------
200,000 NYC GO 5.125 03/15/2025 03/15/2012 A 207,994
- ----------------------------------------------------------------------------------------------------------------------
185,000 NYC GO 5.125 08/01/2025 02/01/2008 A 187,518
- ----------------------------------------------------------------------------------------------------------------------
45,000 NYC GO 5.125 08/01/2025 08/01/2008 A 45,916
- ----------------------------------------------------------------------------------------------------------------------
465,000 NYC GO 5.125 08/01/2025 08/01/2008 A 473,161
- ----------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 5.125 03/01/2028 03/01/2008 A 10,195
- ----------------------------------------------------------------------------------------------------------------------
25,000 NYC GO 5.125 05/15/2029 05/15/2009 A 25,648
- ----------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 5.125 05/15/2029 05/15/2009 A 15,509
- ----------------------------------------------------------------------------------------------------------------------
50,000 NYC GO 5.200 08/01/2021 08/01/2008 A 50,960
- ----------------------------------------------------------------------------------------------------------------------
20,000 NYC GO 5.200 08/01/2021 08/01/2008 A 20,484
- ----------------------------------------------------------------------------------------------------------------------
50,000 NYC GO 5.250 08/01/2011 02/01/2008 A 50,550
- ----------------------------------------------------------------------------------------------------------------------
25,000 NYC GO 5.250 05/01/2012 11/01/2007 A 25,121
- ----------------------------------------------------------------------------------------------------------------------
95,000 NYC GO 5.250 08/01/2012 08/01/2007 A 96,051
- ----------------------------------------------------------------------------------------------------------------------
50,000 NYC GO 5.250 08/15/2013 08/15/2008 A 51,220
- ----------------------------------------------------------------------------------------------------------------------
50,000 NYC GO 5.250 02/01/2014 02/01/2008 A 50,868
- ----------------------------------------------------------------------------------------------------------------------
245,000 NYC GO 5.250 08/01/2015 02/01/2008 A 249,307
- ----------------------------------------------------------------------------------------------------------------------
45,000 NYC GO 5.250 08/01/2015 08/01/2007 A 45,498
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 5.250 08/01/2015 08/01/2007 A 5,056
- ----------------------------------------------------------------------------------------------------------------------
245,000 NYC GO 5.250 08/01/2015 08/01/2007 A 247,710
- ----------------------------------------------------------------------------------------------------------------------
20,000 NYC GO 5.250 08/01/2016 02/01/2008 A 20,347
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 5.250 08/01/2016 08/01/2007 A 5,056
- ----------------------------------------------------------------------------------------------------------------------
45,000 NYC GO 5.250 08/01/2016 08/01/2007 A 45,498
- ----------------------------------------------------------------------------------------------------------------------
75,000 NYC GO 5.250 08/01/2017 02/01/2008 A 76,156
- ----------------------------------------------------------------------------------------------------------------------
90,000 NYC GO 5.250 08/01/2019 08/01/2008 A 91,795
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 5.250 08/01/2020 08/01/2007 A 5,056
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 5.250 08/01/2020 08/01/2007 A 5,056
- ----------------------------------------------------------------------------------------------------------------------
45,000 NYC GO 5.250 08/01/2020 08/01/2007 A 45,502
- ----------------------------------------------------------------------------------------------------------------------
305,000 NYC GO 5.250 08/01/2020 08/01/2007 A 308,303
- ----------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 5.250 05/01/2021 11/01/2007 A 10,047
- ----------------------------------------------------------------------------------------------------------------------
2,785,000 NYC GO 5.250 08/01/2021 08/01/2007 A 2,816,387
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 5.250 08/01/2021 08/01/2007 A 5,056
- ----------------------------------------------------------------------------------------------------------------------
375,000 NYC GO 5.250 08/01/2021 08/01/2007 A 379,061
- ----------------------------------------------------------------------------------------------------------------------
40,000 NYC GO 5.250 11/15/2021 1 11/15/2007 A 40,545
- ----------------------------------------------------------------------------------------------------------------------
25,000 NYC GO 5.250 01/15/2023 01/15/2013 A 26,104
- ----------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 5.250 08/15/2023 08/15/2008 A 15,304
- ----------------------------------------------------------------------------------------------------------------------
1,000,000 NYC GO 5.250 08/15/2024 08/15/2014 A 1,053,030
- ----------------------------------------------------------------------------------------------------------------------
5,110,000 NYC GO 5.250 08/15/2026 08/15/2014 A 5,374,596
- ----------------------------------------------------------------------------------------------------------------------
160,000 NYC GO 5.250 06/01/2027 06/01/2012 A 166,205
- ----------------------------------------------------------------------------------------------------------------------
220,000 NYC GO 5.250 01/15/2028 01/15/2013 A 229,381
- ----------------------------------------------------------------------------------------------------------------------
20,000 NYC GO 5.250 01/15/2033 01/15/2013 A 21,298
28 | LIMITED TERM NEW YORK MUNICIPAL FUND
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ----------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 180,000 NYC GO 5.250% 01/15/2033 01/15/2013 A $ 187,317
- ----------------------------------------------------------------------------------------------------------------------
20,000 NYC GO 5.300 08/01/2024 08/01/2008 A 20,414
- ----------------------------------------------------------------------------------------------------------------------
40,000 NYC GO 5.300 01/15/2026 01/15/2013 A 42,695
- ----------------------------------------------------------------------------------------------------------------------
95,000 NYC GO 5.300 01/15/2026 01/15/2013 A 99,416
- ----------------------------------------------------------------------------------------------------------------------
20,000 NYC GO 5.350 08/01/2013 02/01/2008 A 20,363
- ----------------------------------------------------------------------------------------------------------------------
2,000,000 NYC GO 5.375 08/01/2015 08/01/2008 A 2,049,600
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 5.375 08/01/2017 08/01/2010 A 5,265
- ----------------------------------------------------------------------------------------------------------------------
45,000 NYC GO 5.375 08/01/2017 08/01/2010 A 47,277
- ----------------------------------------------------------------------------------------------------------------------
155,000 NYC GO 5.375 08/01/2017 08/01/2007 A 156,705
- ----------------------------------------------------------------------------------------------------------------------
40,000 NYC GO 5.375 11/15/2017 11/15/2007 A 40,572
- ----------------------------------------------------------------------------------------------------------------------
50,000 NYC GO 5.375 08/01/2019 02/01/2008 A 50,940
- ----------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 5.375 08/01/2019 08/01/2009 A 10,324
- ----------------------------------------------------------------------------------------------------------------------
85,000 NYC GO 5.375 08/01/2019 02/01/2008 A 86,401
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 5.375 08/01/2020 08/01/2009 A 5,162
- ----------------------------------------------------------------------------------------------------------------------
25,000 NYC GO 5.375 08/01/2022 08/01/2007 A 25,275
- ----------------------------------------------------------------------------------------------------------------------
25,000 NYC GO 5.375 08/01/2022 08/01/2007 A 25,282
- ----------------------------------------------------------------------------------------------------------------------
85,000 NYC GO 5.375 03/01/2027 03/01/2013 A 89,485
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 5.375 08/01/2027 08/01/2008 A 5,139
- ----------------------------------------------------------------------------------------------------------------------
580,000 NYC GO 5.375 08/01/2027 08/01/2008 A 593,647
- ----------------------------------------------------------------------------------------------------------------------
350,000 NYC GO 5.375 11/15/2027 11/15/2007 A 355,191
- ----------------------------------------------------------------------------------------------------------------------
35,000 NYC GO 5.400 08/01/2011 08/01/2007 A 35,390
- ----------------------------------------------------------------------------------------------------------------------
135,000 NYC GO 5.500 08/01/2010 08/01/2007 E 136,523
- ----------------------------------------------------------------------------------------------------------------------
280,000 NYC GO 5.500 08/01/2022 08/01/2007 A 283,128
- ----------------------------------------------------------------------------------------------------------------------
810,000 NYC GO 5.500 06/01/2023 06/01/2013 A 860,965
- ----------------------------------------------------------------------------------------------------------------------
6,825,000 NYC GO 5.500 06/01/2023 06/01/2013 A 7,384,172
- ----------------------------------------------------------------------------------------------------------------------
1,630,000 NYC GO 5.500 05/15/2024 1 05/15/2010 A 1,703,057
- ----------------------------------------------------------------------------------------------------------------------
20,000 NYC GO 5.500 02/15/2026 08/15/2007 A 20,262
- ----------------------------------------------------------------------------------------------------------------------
50,000 NYC GO 5.500 02/15/2026 08/15/2007 A 50,445
- ----------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 5.500 11/15/2037 11/15/2007 A 10,150
- ----------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 5.600 12/01/2009 12/01/2007 A 10,069
- ----------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 5.600 12/01/2010 12/01/2007 A 15,102
- ----------------------------------------------------------------------------------------------------------------------
30,000 NYC GO 5.600 12/01/2013 12/01/2007 A 30,206
- ----------------------------------------------------------------------------------------------------------------------
45,000 NYC GO 5.625 08/15/2008 08/15/2007 A 45,102
- ----------------------------------------------------------------------------------------------------------------------
185,000 NYC GO 5.625 08/15/2009 08/15/2007 A 185,418
- ----------------------------------------------------------------------------------------------------------------------
95,000 NYC GO 5.625 10/01/2020 10/01/2007 A 95,452
- ----------------------------------------------------------------------------------------------------------------------
220,000 NYC GO 5.700 08/15/2010 08/15/2007 A 220,517
- ----------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 5.750 05/15/2012 11/15/2007 A 10,015
- ----------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 5.750 05/15/2012 11/15/2007 A 10,014
- ----------------------------------------------------------------------------------------------------------------------
1,910,000 NYC GO 5.750 08/01/2012 08/01/2007 A 1,931,965
- ----------------------------------------------------------------------------------------------------------------------
465,000 NYC GO 5.750 03/01/2018 03/01/2013 A 507,506
- ----------------------------------------------------------------------------------------------------------------------
570,000 NYC GO 5.750 03/01/2018 03/01/2013 A 611,468
29 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ----------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 500,000 NYC GO 5.750% 08/01/2018 08/01/2012 A $ 534,215
- ----------------------------------------------------------------------------------------------------------------------
190,000 NYC GO 5.750 08/01/2018 08/01/2012 A 205,939
- ----------------------------------------------------------------------------------------------------------------------
310,000 NYC GO 5.750 08/01/2018 08/01/2012 A 330,919
- ----------------------------------------------------------------------------------------------------------------------
500,000 NYC GO 5.750 03/01/2020 03/01/2013 A 545,705
- ----------------------------------------------------------------------------------------------------------------------
5,010,000 NYC GO 5.750 03/01/2021 03/01/2013 E 5,467,964
- ----------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 5.875 11/01/2011 11/01/2008 A 15,247
- ----------------------------------------------------------------------------------------------------------------------
55,000 NYC GO 5.875 08/01/2015 08/01/2007 A 55,638
- ----------------------------------------------------------------------------------------------------------------------
7,155,000 NYC GO 5.875 06/01/2019 06/01/2012 A 7,669,516
- ----------------------------------------------------------------------------------------------------------------------
505,000 NYC GO 5.875 08/01/2019 08/01/2012 E 550,248
- ----------------------------------------------------------------------------------------------------------------------
4,770,000 NYC GO 5.875 08/01/2019 08/01/2012 A 5,123,409
- ----------------------------------------------------------------------------------------------------------------------
5,495,000 NYC GO 5.875 06/01/2020 06/01/2012 A 5,890,145
- ----------------------------------------------------------------------------------------------------------------------
6,645,000 NYC GO 5.875 06/01/2021 06/01/2012 A 7,122,842
- ----------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 6.000 05/15/2010 11/15/2007 A 15,024
- ----------------------------------------------------------------------------------------------------------------------
50,000 NYC GO 6.000 05/15/2011 11/15/2007 A 50,082
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 6.000 02/01/2012 02/01/2008 A 5,083
- ----------------------------------------------------------------------------------------------------------------------
25,000 NYC GO 6.000 04/15/2012 10/15/2007 A 25,290
- ----------------------------------------------------------------------------------------------------------------------
140,000 NYC GO 6.000 08/01/2013 08/01/2007 A 141,638
- ----------------------------------------------------------------------------------------------------------------------
580,000 NYC GO 6.000 08/01/2017 08/01/2007 A 586,757
- ----------------------------------------------------------------------------------------------------------------------
695,000 NYC GO 6.000 08/01/2017 08/01/2007 A 703,097
- ----------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 6.000 05/15/2018 05/15/2010 A 10,597
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 6.000 02/01/2022 02/01/2008 A 5,082
- ----------------------------------------------------------------------------------------------------------------------
115,000 NYC GO 6.000 05/15/2022 05/15/2010 A 122,715
- ----------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 6.000 05/15/2022 05/15/2010 A 15,874
- ----------------------------------------------------------------------------------------------------------------------
35,000 NYC GO 6.000 02/15/2024 08/15/2007 A 35,315
- ----------------------------------------------------------------------------------------------------------------------
10,000 NYC GO 6.125 08/01/2025 1 08/01/2007 A 10,118
- ----------------------------------------------------------------------------------------------------------------------
45,000 NYC GO 6.125 08/01/2025 08/01/2007 A 45,527
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 6.125 08/01/2025 08/01/2007 A 5,059
- ----------------------------------------------------------------------------------------------------------------------
825,000 NYC GO 6.250 08/01/2009 02/01/2008 A 838,844
- ----------------------------------------------------------------------------------------------------------------------
60,000 NYC GO 6.250 08/01/2009 02/01/2008 A 61,015
- ----------------------------------------------------------------------------------------------------------------------
255,000 NYC GO 6.350 05/15/2014 05/15/2008 A 262,790
- ----------------------------------------------------------------------------------------------------------------------
1,130,000 NYC GO 6.500 05/15/2017 05/15/2010 A 1,212,580
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 7.000 02/01/2009 02/01/2008 A 5,013
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 7.000 12/01/2010 12/01/2007 A 5,063
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 7.000 02/01/2011 02/01/2008 A 5,014
- ----------------------------------------------------------------------------------------------------------------------
30,000 NYC GO 7.000 02/01/2012 02/01/2008 A 30,078
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYC GO 7.000 02/01/2018 02/01/2008 A 5,012
- ----------------------------------------------------------------------------------------------------------------------
15,000 NYC GO 7.500 02/01/2009 02/01/2008 A 15,043
- ----------------------------------------------------------------------------------------------------------------------
45,000 NYC GO 7.750 08/15/2027 08/15/2007 A 45,205
- ----------------------------------------------------------------------------------------------------------------------
55,000 NYC GO DIAMONDS 0.000 4 08/01/2025 1 02/01/2008 A 55,357
- ----------------------------------------------------------------------------------------------------------------------
100,000 NYC GO RIBS 7.383 6 08/13/2009 02/01/2008 A 100,274
- ----------------------------------------------------------------------------------------------------------------------
50,000 NYC GO RIBS 7.383 6 07/29/2010 02/01/2008 A 50,137
30 | LIMITED TERM NEW YORK MUNICIPAL FUND
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- -----------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 100,000 NYC GO RIBS 7.481% 6 08/22/2013 02/01/2008 A $ 100,282
- -----------------------------------------------------------------------------------------------------------------------
50,000 NYC GO RIBS 7.582 6 08/27/2015 02/01/2008 A 50,141
- -----------------------------------------------------------------------------------------------------------------------
90,000 NYC GO RIBS 7.962 6 08/29/2008 02/01/2008 A 90,248
- -----------------------------------------------------------------------------------------------------------------------
450,000 NYC GO RIBS 8.735 6 09/01/2011 02/01/2008 A 451,827
- -----------------------------------------------------------------------------------------------------------------------
565,000 NYC HDC (Multifamily Hsg.) 5.050 11/01/2023 11/01/2012 A 576,583
- -----------------------------------------------------------------------------------------------------------------------
4,610,000 NYC HDC (Multifamily Hsg.) 5.250 11/01/2030 05/01/2014 A 4,771,534
- -----------------------------------------------------------------------------------------------------------------------
20,000 NYC HDC (Multifamily Hsg.) 5.250 11/01/2031 11/01/2010 A 20,406
- -----------------------------------------------------------------------------------------------------------------------
900,000 NYC HDC (Multifamily Hsg.), Series A 5.375 11/01/2023 05/01/2012 A 914,400
- -----------------------------------------------------------------------------------------------------------------------
450,000 NYC HDC (Multifamily Hsg.), Series A 5.500 11/01/2009 05/01/2008 A 454,775
- -----------------------------------------------------------------------------------------------------------------------
845,000 NYC HDC (Multifamily Hsg.), Series A 5.625 05/01/2012 05/01/2008 A 856,450
- -----------------------------------------------------------------------------------------------------------------------
1,950,000 NYC HDC (Multifamily Hsg.), Series E 6.250 05/01/2036 11/01/2009 A 2,051,946
- -----------------------------------------------------------------------------------------------------------------------
17,510,000 NYC HDC, Series A 5 5.000 07/01/2025 07/01/2015 A 18,146,664
- -----------------------------------------------------------------------------------------------------------------------
185,000 NYC HDC, Series A 5.000 07/01/2010 07/01/2010 190,798
- -----------------------------------------------------------------------------------------------------------------------
4,450,000 NYC HDC, Series A 5.000 07/01/2025 07/01/2015 A 4,611,802
- -----------------------------------------------------------------------------------------------------------------------
2,215,000 NYC HDC, Series C 5.000 11/01/2026 07/16/2022 A 2,220,095
- -----------------------------------------------------------------------------------------------------------------------
27,750,000 NYC Health & Hospital Corp. 2 5.250 02/15/2017 1 02/15/2010 A 28,176,518
- -----------------------------------------------------------------------------------------------------------------------
1,010,000 NYC Health & Hospital Corp. 5.450 02/15/2026 02/15/2012 A 1,035,715
- -----------------------------------------------------------------------------------------------------------------------
3,000,000 NYC Health & Hospital Corp. (Health System) 5.250 02/15/2022 02/15/2013 A 3,148,620
- -----------------------------------------------------------------------------------------------------------------------
705,000 NYC IDA (Acme Architectural Products) 5.875 11/01/2009 10/14/2008 B 705,811
- -----------------------------------------------------------------------------------------------------------------------
9,400,000 NYC IDA (AIRIS JFK I/JFK International
Airport) 5.500 07/01/2028 07/01/2011 A 9,567,320
- -----------------------------------------------------------------------------------------------------------------------
10,000,000 NYC IDA (AIRIS JFK I/JFK International
Airport) 6.000 07/01/2015 07/01/2011 A 10,415,900
- -----------------------------------------------------------------------------------------------------------------------
195,000 NYC IDA (Atlantic Veal & Lamb) 7.250 12/01/2008 04/07/2008 B 197,867
- -----------------------------------------------------------------------------------------------------------------------
3,370,000 NYC IDA (Beth Abraham Health Services) 6.000 02/15/2013 10/10/2010 B 3,490,882
- -----------------------------------------------------------------------------------------------------------------------
830,000 NYC IDA (Beth Abraham Health Services) 6.000 11/15/2013 04/28/2010 B 863,034
- -----------------------------------------------------------------------------------------------------------------------
400,000 NYC IDA (Beth Abraham Health Services) 6.000 11/15/2013 08/04/2010 B 415,920
- -----------------------------------------------------------------------------------------------------------------------
855,000 NYC IDA (Calhoun School) 6.250 12/01/2016 12/01/2016 891,945
- -----------------------------------------------------------------------------------------------------------------------
5,620,000 NYC IDA (Calhoun School) 6.250 12/01/2017 07/17/2013 B 5,641,693
- -----------------------------------------------------------------------------------------------------------------------
655,000 NYC IDA (Center for Elimination of
Family Violence) 6.250 11/01/2016 10/21/2012 B 661,707
- -----------------------------------------------------------------------------------------------------------------------
7,625,000 NYC IDA (Chapin School) 4.800 11/01/2018 11/01/2018 7,599,075
- -----------------------------------------------------------------------------------------------------------------------
220,000 NYC IDA (Chardan Corp.) 6.250 11/01/2008 04/30/2008 B 219,791
- -----------------------------------------------------------------------------------------------------------------------
300,000 NYC IDA (College of New Rochelle) 6.200 09/01/2010 1 09/01/2007 A 301,002
- -----------------------------------------------------------------------------------------------------------------------
500,000 NYC IDA (College of New Rochelle) 6.300 09/01/2015 1 09/01/2007 A 501,535
- -----------------------------------------------------------------------------------------------------------------------
855,000 NYC IDA (Comprehensive Care Management) 5.625 11/01/2015 11/01/2015 862,832
- -----------------------------------------------------------------------------------------------------------------------
650,000 NYC IDA (Comprehensive Care Management) 5.625 11/01/2015 11/01/2015 655,954
- -----------------------------------------------------------------------------------------------------------------------
195,000 NYC IDA (Comprehensive Care Management) 5.750 11/01/2008 04/30/2008 B 196,248
- -----------------------------------------------------------------------------------------------------------------------
75,000 NYC IDA (Comprehensive Care Management) 5.750 11/01/2008 04/30/2008 B 75,183
- -----------------------------------------------------------------------------------------------------------------------
2,900,000 NYC IDA (Comprehensive Care Management) 5.750 08/01/2018 12/04/2014 B 2,927,695
- -----------------------------------------------------------------------------------------------------------------------
2,945,000 NYC IDA (Comprehensive Care Management) 5.750 11/01/2018 12/04/2014 B 2,973,125
- -----------------------------------------------------------------------------------------------------------------------
3,070,000 NYC IDA (Comprehensive Care Management) 5.750 05/01/2019 12/03/2015 D 3,114,730
- -----------------------------------------------------------------------------------------------------------------------
245,000 NYC IDA (Essie Cosmetics) 5.500 11/01/2008 04/22/2008 B 245,502
31 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ---------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 870,000 NYC IDA (Family Support Systems) 6.500% 11/01/2014 11/01/2007 A $ 872,219
- ---------------------------------------------------------------------------------------------------------------------
210,000 NYC IDA (Gabrielli Truck Sales) 7.250 12/01/2007 12/01/2007 211,229
- ---------------------------------------------------------------------------------------------------------------------
3,340,000 NYC IDA (Gateway School of New York) 5.300 06/01/2019 06/01/2012 B 3,343,540
- ---------------------------------------------------------------------------------------------------------------------
1,025,000 NYC IDA (Global Country World Peace) 6.250 11/01/2015 12/19/2012 B 1,028,618
- ---------------------------------------------------------------------------------------------------------------------
955,000 NYC IDA (Global Country World Peace) 6.250 11/01/2025 10/20/2012 B 954,990
- ---------------------------------------------------------------------------------------------------------------------
1,530,000 NYC IDA (Gourmet Boutique) 5.250 05/01/2013 05/01/2013 1,519,015
- ---------------------------------------------------------------------------------------------------------------------
1,885,000 NYC IDA (Guttmacher Institute) 5.250 12/01/2016 12/01/2016 1,867,639
- ---------------------------------------------------------------------------------------------------------------------
500,000 NYC IDA (Independent Living Assoc.) 6.200 07/01/2020 12/19/2014 D 505,565
- ---------------------------------------------------------------------------------------------------------------------
35,625,000 NYC IDA (Japan Airlines) 6.000 11/01/2015 11/01/2007 A 35,740,425
- ---------------------------------------------------------------------------------------------------------------------
16,350,000 NYC IDA (JFK International Airport) 8.000 08/01/2012 08/01/2012 18,540,573
- ---------------------------------------------------------------------------------------------------------------------
75,000 NYC IDA (Julia Gray) 6.500 11/01/2007 11/01/2007 75,099
- ---------------------------------------------------------------------------------------------------------------------
2,355,000 NYC IDA (Lycee Francais De New York) 5.500 06/01/2013 12/01/2012 A 2,480,074
- ---------------------------------------------------------------------------------------------------------------------
730,000 NYC IDA (Lycee Francais De New York) 5.500 06/01/2015 12/01/2012 A 764,463
- ---------------------------------------------------------------------------------------------------------------------
2,880,000 NYC IDA (Lycee Francais De New York) 5.500 06/01/2016 12/01/2012 A 3,008,938
- ---------------------------------------------------------------------------------------------------------------------
2,000,000 NYC IDA (Lycee Francais De New York) 5.500 06/01/2017 12/01/2012 A 2,087,000
- ---------------------------------------------------------------------------------------------------------------------
3,210,000 NYC IDA (Lycee Francais De New York) 5.500 06/01/2018 12/01/2012 A 3,348,672
- ---------------------------------------------------------------------------------------------------------------------
835,000 NYC IDA (Manhattan Community
Access Corp.) 5.250 12/01/2016 12/01/2016 831,293
- ---------------------------------------------------------------------------------------------------------------------
250,000 NYC IDA (Marymount School of New York) 5.125 09/01/2021 09/01/2013 A 255,283
- ---------------------------------------------------------------------------------------------------------------------
1,800,000 NYC IDA (Metropolitan College of New York) 5.750 03/01/2020 12/14/2017 B 1,765,746
- ---------------------------------------------------------------------------------------------------------------------
4,585,000 NYC IDA (MMC Corp.) 5.125 11/01/2025 11/01/2010 A 4,680,460
- ---------------------------------------------------------------------------------------------------------------------
5,865,000 NYC IDA (MMC Corp.) 5.125 11/01/2035 11/01/2010 A 5,972,564
- ---------------------------------------------------------------------------------------------------------------------
125,000 NYC IDA (Morrisons Pastry) 5.750 11/01/2007 11/01/2007 124,999
- ---------------------------------------------------------------------------------------------------------------------
1,810,000 NYC IDA (Polytechnic University) 5.250 11/01/2008 11/01/2008 1,843,087
- ---------------------------------------------------------------------------------------------------------------------
2,005,000 NYC IDA (Polytechnic University) 5.750 11/01/2010 11/01/2010 2,113,210
- ---------------------------------------------------------------------------------------------------------------------
500,000 NYC IDA (Polytechnic University) 5.750 11/01/2012 11/01/2010 A 531,365
- ---------------------------------------------------------------------------------------------------------------------
255,000 NYC IDA (Precision Gear) 5.875 11/01/2009 11/07/2008 B 257,583
- ---------------------------------------------------------------------------------------------------------------------
210,000 NYC IDA (Precision Gear) 5.875 11/01/2009 09/09/2008 B 211,460
- ---------------------------------------------------------------------------------------------------------------------
60,000 NYC IDA (Precision Gear) 6.500 11/01/2008 11/01/2008 60,764
- ---------------------------------------------------------------------------------------------------------------------
1,200,000 NYC IDA (Reece School) 6.500 12/01/2017 12/14/2013 B 1,205,856
- ---------------------------------------------------------------------------------------------------------------------
405,000 NYC IDA (Reece School) 6.500 12/01/2017 12/18/2013 B 405,000
- ---------------------------------------------------------------------------------------------------------------------
225,000 NYC IDA (Rockefeller Foundation) 5.375 07/01/2023 01/01/2008 A 226,028
- ---------------------------------------------------------------------------------------------------------------------
3,560,000 NYC IDA (Rosco, Inc.) 5.625 06/01/2022 12/01/2007 C 3,575,379
- ---------------------------------------------------------------------------------------------------------------------
4,100,000 NYC IDA (Samaritan Aids Services) 5.000 11/01/2024 11/01/2011 A 4,183,804
- ---------------------------------------------------------------------------------------------------------------------
840,000 NYC IDA (Showman Fabricators) 7.125 11/01/2013 11/24/2010 B 846,552
- ---------------------------------------------------------------------------------------------------------------------
255,000 NYC IDA (Special Needs Facilities
Pooled Program) 5.950 07/01/2008 01/05/2008 B 257,394
- ---------------------------------------------------------------------------------------------------------------------
1,240,000 NYC IDA (Stallion) 5.000 11/01/2016 11/01/2016 1,224,438
- ---------------------------------------------------------------------------------------------------------------------
1,265,000 NYC IDA (Studio School) 6.250 11/01/2018 11/12/2016 B 1,257,423
- ---------------------------------------------------------------------------------------------------------------------
5,855,000 NYC IDA (Terminal One Group Assoc.) 5.500 01/01/2017 01/01/2016 A 6,277,790
- ---------------------------------------------------------------------------------------------------------------------
5,000,000 NYC IDA (Terminal One Group Assoc.) 2 5.500 01/01/2018 01/01/2016 A 5,335,550
- ---------------------------------------------------------------------------------------------------------------------
11,670,000 NYC IDA (Terminal One Group Assoc.) 5.500 01/01/2019 01/01/2016 A 12,419,331
32 | LIMITED TERM NEW YORK MUNICIPAL FUND
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ---------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 2,500,000 NYC IDA (Terminal One Group Assoc.) 2 5.500% 01/01/2020 01/01/2016 A $ 2,662,325
- ---------------------------------------------------------------------------------------------------------------------
2,000,000 NYC IDA (Terminal One Group Assoc.) 5.500 01/01/2021 01/01/2016 A 2,128,420
- ---------------------------------------------------------------------------------------------------------------------
22,500,000 NYC IDA (Terminal One Group Assoc.) 5.500 01/01/2024 01/01/2016 A 23,895,900
- ---------------------------------------------------------------------------------------------------------------------
1,715,000 NYC IDA (The Child School) 7.000 06/01/2013 12/06/2010 B 1,831,603
- ---------------------------------------------------------------------------------------------------------------------
7,910,000 NYC IDA (Unicef) 5.050 11/01/2018 09/30/2014 D 7,946,307
- ---------------------------------------------------------------------------------------------------------------------
180,000 NYC IDA (United Nations School) 6.150 12/01/2007 12/01/2007 181,458
- ---------------------------------------------------------------------------------------------------------------------
1,000,000 NYC IDA (Urban Resource Institute) 5.250 03/01/2023 03/01/2013 A 1,051,930
- ---------------------------------------------------------------------------------------------------------------------
1,095,000 NYC IDA (Urban Resource Institute) 6.500 11/01/2013 11/04/2010 B 1,129,153
- ---------------------------------------------------------------------------------------------------------------------
925,000 NYC IDA (Vaughn College Aeronautics) 5.000 12/01/2016 12/01/2016 928,756
- ---------------------------------------------------------------------------------------------------------------------
3,225,000 NYC IDA (Vaughn College Aeronautics) 5.000 12/01/2016 12/01/2016 3,238,094
- ---------------------------------------------------------------------------------------------------------------------
4,400,000 NYC IDA (Visy Paper) 7.800 01/01/2016 01/01/2008 A 4,456,012
- ---------------------------------------------------------------------------------------------------------------------
765,000 NYC IDA (Vocational Instruction) 7.250 02/01/2013 04/21/2010 B 650,235
- ---------------------------------------------------------------------------------------------------------------------
90,000 NYC IDA (World Casing Corp.) 5.950 11/01/2007 11/01/2007 89,933
- ---------------------------------------------------------------------------------------------------------------------
5,820,000 NYC IDA (Yeled Yalda Early Childhood) 5.350 11/01/2017 11/01/2017 5,832,862
- ---------------------------------------------------------------------------------------------------------------------
500,000 NYC IDA (YMCA of Greater New York) 5.250 08/01/2021 02/01/2011 A 511,865
- ---------------------------------------------------------------------------------------------------------------------
6,490,000 NYC IDA (YMCA of Greater New York) 5.800 08/01/2016 1 01/01/2009 A 6,648,226
- ---------------------------------------------------------------------------------------------------------------------
500,000 NYC IDA (Zeluck, Inc.) 6.250 11/01/2011 11/01/2007 A 500,940
- ---------------------------------------------------------------------------------------------------------------------
20,000 NYC Municipal Water Finance Authority 4.875 06/15/2021 06/15/2008 A 20,263
- ---------------------------------------------------------------------------------------------------------------------
815,000 NYC Municipal Water Finance Authority 2 5.000 06/15/2021 12/15/2007 A 823,672
- ---------------------------------------------------------------------------------------------------------------------
50,000 NYC Municipal Water Finance Authority 5.000 06/15/2027 06/15/2008 A 50,783
- ---------------------------------------------------------------------------------------------------------------------
65,000 NYC Municipal Water Finance Authority 5.000 06/15/2027 06/15/2008 A 65,968
- ---------------------------------------------------------------------------------------------------------------------
65,000 NYC Municipal Water Finance Authority 5.000 06/15/2027 06/15/2008 A 66,017
- ---------------------------------------------------------------------------------------------------------------------
140,000 NYC Municipal Water Finance Authority 5.000 06/15/2029 06/15/2009 A 142,968
- ---------------------------------------------------------------------------------------------------------------------
15,010,000 NYC Municipal Water Finance Authority 5.000 06/15/2034 06/15/2013 A 15,358,983
- ---------------------------------------------------------------------------------------------------------------------
20,000,000 NYC Municipal Water Finance Authority 5.000 06/15/2039 06/15/2012 A 20,406,800
- ---------------------------------------------------------------------------------------------------------------------
85,000 NYC Municipal Water Finance Authority 5.125 06/15/2017 1 12/15/2007 A 85,936
- ---------------------------------------------------------------------------------------------------------------------
200,000 NYC Municipal Water Finance Authority 2 5.125 06/15/2021 12/15/2007 A 202,212
- ---------------------------------------------------------------------------------------------------------------------
225,000 NYC Municipal Water Finance Authority 2 5.125 06/15/2021 12/15/2007 A 227,489
- ---------------------------------------------------------------------------------------------------------------------
175,000 NYC Municipal Water Finance Authority 5.125 06/15/2021 12/15/2007 A 176,813
- ---------------------------------------------------------------------------------------------------------------------
3,110,000 NYC Municipal Water Finance Authority 5.125 06/15/2021 12/15/2007 A 3,144,397
- ---------------------------------------------------------------------------------------------------------------------
55,000 NYC Municipal Water Finance Authority 5.125 06/15/2021 12/15/2007 A 55,608
- ---------------------------------------------------------------------------------------------------------------------
165,000 NYC Municipal Water Finance Authority 5.125 06/15/2022 06/15/2008 A 166,794
- ---------------------------------------------------------------------------------------------------------------------
2,000,000 NYC Municipal Water Finance Authority 5.125 06/15/2031 06/15/2011 A 2,057,280
- ---------------------------------------------------------------------------------------------------------------------
10,000 NYC Municipal Water Finance Authority 5.200 06/15/2013 12/15/2007 A 10,111
- ---------------------------------------------------------------------------------------------------------------------
35,000 NYC Municipal Water Finance Authority 5.250 06/15/2018 12/15/2007 A 35,391
- ---------------------------------------------------------------------------------------------------------------------
855,000 NYC Municipal Water Finance Authority 5.750 06/15/2013 1 12/15/2007 A 873,896
- ---------------------------------------------------------------------------------------------------------------------
50,000 NYC Municipal Water Finance Authority 5.750 06/15/2013 1 12/15/2007 E 51,105
- ---------------------------------------------------------------------------------------------------------------------
30,000 NYC Transitional Finance Authority 5.000 05/01/2026 1 05/01/2008 A 30,625
- ---------------------------------------------------------------------------------------------------------------------
35,000 NYC Transitional Finance Authority 5.000 05/01/2026 1 05/01/2008 A 35,582
- ---------------------------------------------------------------------------------------------------------------------
2,000,000 NYC Transitional Finance Authority, Series E 5.000 02/01/2026 02/01/2013 A 2,055,320
- ---------------------------------------------------------------------------------------------------------------------
10,000 NYC Trust for Cultural Resources
(American Museum of Natural History) 5.250 07/01/2019 07/01/2009 A 10,371
33 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ---------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 795,000 NYC Trust for Cultural Resources
(Museum of American Folk Art) 6.000% 07/01/2022 1 07/01/2010 A $ 843,066
- ---------------------------------------------------------------------------------------------------------------------
2,720,000 NYC Trust for Cultural Resources
(Museum of American Folk Art) 6.125 07/01/2030 1 07/01/2010 A 2,891,986
- ---------------------------------------------------------------------------------------------------------------------
250,000 NYC Trust for Cultural Resources
(Museum of Modern Art) 5.125 07/01/2031 07/01/2012 A 259,200
- ---------------------------------------------------------------------------------------------------------------------
595,000 NYC Trust for Cultural Resources
(Museum of Modern Art) 5.500 01/01/2016 01/01/2008 A 607,679
- ---------------------------------------------------------------------------------------------------------------------
1,035,000 NYC Trust for Cultural Resources
(Museum of Modern Art) 5.500 01/01/2021 01/01/2008 A 1,057,139
- ---------------------------------------------------------------------------------------------------------------------
120,000 NYS DA (Albany Memorial Hospital) 5.500 07/01/2010 1 01/01/2008 A 120,115
- ---------------------------------------------------------------------------------------------------------------------
15,000 NYS DA (Amsterdam Memorial Hospital) 6.000 08/01/2016 08/01/2007 A 15,324
- ---------------------------------------------------------------------------------------------------------------------
25,000 NYS DA (Amsterdam Memorial Hospital) 6.000 08/01/2025 08/01/2007 A 25,470
- ---------------------------------------------------------------------------------------------------------------------
25,000 NYS DA (Audit & Control) 5.500 04/01/2023 04/01/2009 A 25,909
- ---------------------------------------------------------------------------------------------------------------------
250,000 NYS DA (Augustana Lutheran Home) 5.500 02/01/2041 1 02/01/2012 A 261,908
- ---------------------------------------------------------------------------------------------------------------------
1,140,000 NYS DA (Barnard College) 5.250 07/01/2016 01/01/2008 A 1,169,936
- ---------------------------------------------------------------------------------------------------------------------
4,625,000 NYS DA (Barnard College) 5.250 07/01/2026 01/01/2008 A 4,675,690
- ---------------------------------------------------------------------------------------------------------------------
15,000 NYS DA (Brookdale Hospital Medical Center) 5.200 02/15/2016 02/15/2010 A 15,308
- ---------------------------------------------------------------------------------------------------------------------
65,000 NYS DA (Brookdale Hospital Medical Center) 5.300 02/15/2017 02/15/2008 A 66,361
- ---------------------------------------------------------------------------------------------------------------------
60,000 NYS DA (Brooklyn Hospital Center) 5.100 02/01/2019 02/01/2009 A 61,583
- ---------------------------------------------------------------------------------------------------------------------
1,300,000 NYS DA (Canisius College) 5.000 07/01/2022 07/01/2015 A 1,350,817
- ---------------------------------------------------------------------------------------------------------------------
1,120,000 NYS DA (Catskill Regional Medical Center) 5.250 02/15/2023 02/15/2015 A 1,188,891
- ---------------------------------------------------------------------------------------------------------------------
1,350,000 NYS DA (Chapel Oaks) 5.375 07/01/2017 1 07/01/2008 A 1,394,064
- ---------------------------------------------------------------------------------------------------------------------
960,000 NYS DA (City University) 5.000 07/01/2017 07/01/2008 A 975,926
- ---------------------------------------------------------------------------------------------------------------------
65,000 NYS DA (City University) 5.000 07/01/2026 07/01/2008 A 66,472
- ---------------------------------------------------------------------------------------------------------------------
60,000 NYS DA (City University) 5.250 07/01/2012 07/01/2008 A 61,258
- ---------------------------------------------------------------------------------------------------------------------
145,000 NYS DA (City University) 5.250 07/01/2025 07/01/2008 A 149,737
- ---------------------------------------------------------------------------------------------------------------------
20,000 NYS DA (Culinary Institute of America) 5.000 07/01/2022 07/01/2009 A 20,563
- ---------------------------------------------------------------------------------------------------------------------
350,000 NYS DA (Dept. of Health) 5.000 07/01/2021 07/01/2014 A 361,795
- ---------------------------------------------------------------------------------------------------------------------
10,000 NYS DA (Dept. of Health) 5.000 07/01/2024 07/01/2008 A 10,135
- ---------------------------------------------------------------------------------------------------------------------
35,000 NYS DA (Dept. of Health) 5.000 07/01/2028 07/01/2009 A 35,793
- ---------------------------------------------------------------------------------------------------------------------
880,000 NYS DA (Dept. of Health) 5.250 07/01/2023 07/01/2014 A 928,198
- ---------------------------------------------------------------------------------------------------------------------
4,620,000 NYS DA (Dept. of Health) 5.250 07/01/2024 07/01/2015 A 4,906,579
- ---------------------------------------------------------------------------------------------------------------------
820,000 NYS DA (Dept. of Health) 5.500 07/01/2021 01/01/2008 A 837,130
- ---------------------------------------------------------------------------------------------------------------------
50,000 NYS DA (Eger Health Care Center &
Rehabilitation Center) 5.100 02/01/2028 02/01/2010 A 51,005
- ---------------------------------------------------------------------------------------------------------------------
2,525,000 NYS DA (Ellis Hospital) 5.050 08/15/2024 08/15/2014 A 2,610,774
- ---------------------------------------------------------------------------------------------------------------------
180,000 NYS DA (Ellis Hospital) 5.500 08/01/2015 02/01/2008 A 180,227
- ---------------------------------------------------------------------------------------------------------------------
135,000 NYS DA (Ellis Hospital) 5.600 08/01/2025 02/01/2008 A 135,194
- ---------------------------------------------------------------------------------------------------------------------
175,000 NYS DA (Ellis Hospital) 5.625 08/01/2035 1 02/01/2008 A 175,247
- ---------------------------------------------------------------------------------------------------------------------
125,000 NYS DA (Episcopal Health) 5.900 08/01/2020 1 02/01/2008 A 125,155
- ---------------------------------------------------------------------------------------------------------------------
150,000 NYS DA (FNHC/KR/MMWNHC
Obligated Group) 5.500 07/01/2010 1 01/01/2008 A 150,152
34 | LIMITED TERM NEW YORK MUNICIPAL FUND
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ---------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 600,000 NYS DA (FNHC/KR/MMWNHC
Obligated Group) 5.750% 07/01/2017 01/01/2008 A $ 609,972
- ---------------------------------------------------------------------------------------------------------------------
30,000 NYS DA (Fordham University) 5.000 07/01/2028 07/01/2008 A 30,550
- ---------------------------------------------------------------------------------------------------------------------
3,835,000 NYS DA (Frances Schervier Home &
Hospital Obligated Group) 5.500 07/01/2017 1 01/01/2008 A 3,915,803
- ---------------------------------------------------------------------------------------------------------------------
10,055,000 NYS DA (Frances Schervier Home &
Hospital Obligated Group) 5.500 07/01/2027 1 01/01/2008 A 10,268,267
- ---------------------------------------------------------------------------------------------------------------------
240,000 NYS DA (Frances Schervier Home &
Hospital Obligated Group) 5.500 07/01/2027 1 01/01/2008 A 245,047
- ---------------------------------------------------------------------------------------------------------------------
50,000 NYS DA (German Masonic Home) 5.950 08/01/2026 1 08/01/2008 A 50,936
- ---------------------------------------------------------------------------------------------------------------------
145,000 NYS DA (German Masonic Home) 6.000 08/01/2036 08/01/2007 A 149,336
- ---------------------------------------------------------------------------------------------------------------------
445,000 NYS DA (Grace Manor Health Care Facility) 6.150 07/01/2018 01/01/2008 A 450,198
- ---------------------------------------------------------------------------------------------------------------------
10,000 NYS DA (Hamilton College) 5.125 07/01/2016 07/01/2009 A 10,355
- ---------------------------------------------------------------------------------------------------------------------
5,000 NYS DA (Hamilton College) 5.125 07/01/2016 07/01/2009 A 5,169
- ---------------------------------------------------------------------------------------------------------------------
1,000,000 NYS DA (Health Center/BFCC/USBFCC
Obligated Group) 5.000 11/15/2019 11/15/2011 A 1,032,250
- ---------------------------------------------------------------------------------------------------------------------
20,000 NYS DA (Health) 5.750 02/15/2012 02/15/2008 A 20,427
- ---------------------------------------------------------------------------------------------------------------------
50,000 NYS DA (Hebrew Hospital Home of
Westchester) 5.625 08/01/2016 08/01/2007 A 50,626
- ---------------------------------------------------------------------------------------------------------------------
1,960,000 NYS DA (Highland Community Devel. Corp.) 5.500 07/01/2023 07/16/2008 C 1,971,642
- ---------------------------------------------------------------------------------------------------------------------
75,000 NYS DA (Hospital for Special Surgery) 5.000 02/01/2018 02/01/2008 A 76,186
- ---------------------------------------------------------------------------------------------------------------------
140,000 NYS DA (Hospital for Special Surgery) 5.000 02/01/2028 02/01/2008 A 142,093
- ---------------------------------------------------------------------------------------------------------------------
17,315,000 NYS DA (Hospital) 6.450 08/15/2024 08/15/2012 A 18,944,168
- ---------------------------------------------------------------------------------------------------------------------
2,255,000 NYS DA (Hunts Point Multi-Service Center) 5.625 07/01/2022 01/01/2008 A 2,318,050
- ---------------------------------------------------------------------------------------------------------------------
1,240,000 NYS DA (Ideal Senior Living Center Hsg.) 5.900 08/01/2026 02/01/2008 A 1,254,322
- ---------------------------------------------------------------------------------------------------------------------
100,000 NYS DA (Ideal Senior Living Center Hsg.) 5.900 08/01/2026 02/01/2008 A 101,135
- ---------------------------------------------------------------------------------------------------------------------
35,000 NYS DA (John T. Mather Memorial Hospital) 5.250 07/01/2015 01/01/2008 A 35,380
- ---------------------------------------------------------------------------------------------------------------------
130,000 NYS DA (John T. Mather Memorial Hospital) 5.375 07/01/2019 07/01/2008 A 131,420
- ---------------------------------------------------------------------------------------------------------------------
1,585,000 NYS DA (John T. Mather Memorial Hospital) 5.750 07/01/2025 01/01/2008 A 1,602,926
- ---------------------------------------------------------------------------------------------------------------------
4,910,000 NYS DA (Kaleida Health) 5.050 02/15/2025 02/15/2014 A 5,052,537
- ---------------------------------------------------------------------------------------------------------------------
50,000 NYS DA ( L.I. Jewish Medical Center) 5.000 07/01/2018 07/01/2008 A 51,135
- ---------------------------------------------------------------------------------------------------------------------
175,000 NYS DA ( L.I. Jewish Medical Center) 5.000 07/01/2025 07/01/2008 A 178,973
- ---------------------------------------------------------------------------------------------------------------------
965,000 NYS DA ( L.I. University) 5.125 09/01/2010 09/01/2009 E 997,135
- ---------------------------------------------------------------------------------------------------------------------
275,000 NYS DA (Lakeside Home) 6.000 02/01/2037 08/01/2007 A 280,871
- ---------------------------------------------------------------------------------------------------------------------
10,000 NYS DA (Le Moyne College) 5.000 07/01/2009 01/01/2008 A 10,010
- ---------------------------------------------------------------------------------------------------------------------
725,000 NYS DA (Le Moyne College) 5.000 07/01/2018 01/01/2008 A 725,674
- ---------------------------------------------------------------------------------------------------------------------
1,100,000 NYS DA (Leake & Watts Services) 5.000 07/01/2023 07/01/2014 A 1,136,399
- ---------------------------------------------------------------------------------------------------------------------
10,000 NYS DA (Lenox Hill Hospital Obligated Group) 5.750 07/01/2016 07/01/2012 A 10,461
- ---------------------------------------------------------------------------------------------------------------------
2,000,000 NYS DA (Lenox Hill Hospital Obligated Group) 5.750 07/01/2017 07/01/2012 A 2,087,720
- ---------------------------------------------------------------------------------------------------------------------
470,000 NYS DA (Long Beach Medical Center) 5.550 08/01/2015 02/01/2008 A 478,620
- ---------------------------------------------------------------------------------------------------------------------
600,000 NYS DA (Long Beach Medical Center) 5.625 08/01/2022 02/01/2008 A 608,454
- ---------------------------------------------------------------------------------------------------------------------
2,200,000 NYS DA (Maimonides Medical Center) 5.750 08/01/2024 08/01/2007 A 2,223,606
35 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ---------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 15,000 NYS DA (March of Dimes) 5.600% 07/01/2012 01/01/2008 A $ 15,022
- ---------------------------------------------------------------------------------------------------------------------
615,000 NYS DA (Master BOCES Program) 5.250 08/15/2023 08/15/2013 A 649,200
- ---------------------------------------------------------------------------------------------------------------------
175,000 NYS DA (Menorah Campus) 6.100 02/01/2037 08/01/2007 A 178,759
- ---------------------------------------------------------------------------------------------------------------------
2,000,000 NYS DA (Mental Health Services Facilities) 5.000 02/15/2025 02/15/2015 A 2,071,040
- ---------------------------------------------------------------------------------------------------------------------
220,000 NYS DA (Mental Health Services Facilities) 5.000 02/15/2029 02/15/2009 A 223,595
- ---------------------------------------------------------------------------------------------------------------------
225,000 NYS DA (Mental Health Services Facilities) 5.250 02/15/2023 02/15/2014 A 236,738
- ---------------------------------------------------------------------------------------------------------------------
15,000 NYS DA (Mental Health Services Facilities) 5.750 08/15/2012 08/15/2007 A 15,320
- ---------------------------------------------------------------------------------------------------------------------
445,000 NYS DA (Mental Health) 5.000 02/15/2023 08/15/2008 A 454,140
- ---------------------------------------------------------------------------------------------------------------------
285,000 NYS DA (Mental Health) 5.250 08/15/2024 08/15/2009 A 294,864
- ---------------------------------------------------------------------------------------------------------------------
5,000 NYS DA (Mental Health) 5.375 02/15/2026 08/15/2007 A 5,035
- ---------------------------------------------------------------------------------------------------------------------
5,000 NYS DA (Mental Health) 5.500 08/15/2017 08/15/2007 A 5,103
- ---------------------------------------------------------------------------------------------------------------------
10,000 NYS DA (Mental Health) 5.625 02/15/2021 08/15/2007 A 10,211
- ---------------------------------------------------------------------------------------------------------------------
55,000 NYS DA (Mental Health) 5.750 08/15/2011 08/15/2007 E 56,176
- ---------------------------------------------------------------------------------------------------------------------
800,000 NYS DA (Millard Fillmore Hospital) 5.375 02/01/2017 08/01/2007 A 820,672
- ---------------------------------------------------------------------------------------------------------------------
70,000 NYS DA (Millard Fillmore Hospital) 5.375 02/01/2032 08/01/2007 A 71,880
- ---------------------------------------------------------------------------------------------------------------------
5,360,000 NYS DA (Miriam Osborn Memorial
Home Assoc.) 6.875 07/01/2019 1 07/01/2010 A 5,827,660
- ---------------------------------------------------------------------------------------------------------------------
1,000,000 NYS DA (Montefiore Medical Center) 5.000 02/01/2022 02/01/2015 A 1,038,640
- ---------------------------------------------------------------------------------------------------------------------
5,000,000 NYS DA (Montefiore Medical Center) 5.000 08/01/2023 02/01/2015 A 5,193,200
- ---------------------------------------------------------------------------------------------------------------------
4,500,000 NYS DA (Montefiore Medical Center) 5.000 02/01/2028 02/01/2015 A 4,638,735
- ---------------------------------------------------------------------------------------------------------------------
815,000 NYS DA (Montefiore Medical Center) 5.250 08/01/2019 08/01/2010 A 842,612
- ---------------------------------------------------------------------------------------------------------------------
430,000 NYS DA (Montefiore Medical Center) 5.500 08/01/2038 08/01/2009 A 446,220
- ---------------------------------------------------------------------------------------------------------------------
75,000 NYS DA (Mount Sinai School of Medicine) 5.000 07/01/2015 01/01/2008 A 75,047
- ---------------------------------------------------------------------------------------------------------------------
70,000 NYS DA (Mount Sinai School of Medicine) 5.000 07/01/2016 01/01/2008 A 70,178
- ---------------------------------------------------------------------------------------------------------------------
1,025,000 NYS DA (Mount Sinai School of Medicine) 5.000 07/01/2021 01/01/2008 A 1,025,851
- ---------------------------------------------------------------------------------------------------------------------
11,540,000 NYS DA (MSH/NYU Hospital Center/HJDOI
Obligated Group) 5 6.500 07/01/2015 07/01/2010 A 12,254,614
- ---------------------------------------------------------------------------------------------------------------------
11,330,000 NYS DA (MSH/NYU Hospital Center/HJDOI
Obligated Group) 5 6.500 07/01/2016 07/01/2010 A 12,021,753
- ---------------------------------------------------------------------------------------------------------------------
4,000,000 NYS DA (MSH/NYU Hospital Center/HJDOI
Obligated Group) 5.000 07/01/2013 07/01/2008 A 4,022,760
- ---------------------------------------------------------------------------------------------------------------------
1,830,000 NYS DA (MSH/NYU Hospital Center/HJDOI
Obligated Group) 5.500 07/01/2026 07/01/2008 A 1,848,959
- ---------------------------------------------------------------------------------------------------------------------
40,000 NYS DA (MSH/NYU Hospital Center/HJDOI
Obligated Group) 6.000 07/01/2013 07/01/2010 A 42,013
- ---------------------------------------------------------------------------------------------------------------------
1,750,000 NYS DA (Mt. Sinai/NYU Health) 5.500 07/01/2026 07/01/2008 A 1,772,593
- ---------------------------------------------------------------------------------------------------------------------
295,000 NYS DA (Mt. Sinai/NYU Health) 6.000 07/01/2010 07/01/2010 308,956
- ---------------------------------------------------------------------------------------------------------------------
200,000 NYS DA (Mt. Sinai/NYU Health) 6.100 07/01/2012 07/01/2010 A 211,026
- ---------------------------------------------------------------------------------------------------------------------
1,575,000 NYS DA (Mt. Sinai/NYU Health) 6.500 07/01/2017 07/01/2010 A 1,704,796
- ---------------------------------------------------------------------------------------------------------------------
4,925,000 NYS DA (Mt. Sinai/NYU Health) 6.500 07/01/2017 07/01/2010 A 5,221,436
- ---------------------------------------------------------------------------------------------------------------------
645,000 NYS DA (Mt. Sinai/NYU Health) 6.750 07/01/2020 07/01/2010 A 687,177
- ---------------------------------------------------------------------------------------------------------------------
25,000 NYS DA (Municipal Health Facilities) 5.000 01/15/2023 01/15/2009 A 25,602
36 | LIMITED TERM NEW YORK MUNICIPAL FUND
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ---------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 20,000 NYS DA (Municipal Health Facilities) 5.500% 05/15/2016 11/15/2007 A $ 20,225
- ---------------------------------------------------------------------------------------------------------------------
320,000 NYS DA (Municipal Health Facilities) 5.500 05/15/2024 11/15/2007 A 323,619
- ---------------------------------------------------------------------------------------------------------------------
15,000 NYS DA (New York & Presbyterian Hospital) 5.000 02/01/2019 02/01/2008 A 15,237
- ---------------------------------------------------------------------------------------------------------------------
30,000 NYS DA (New York Downtown Hospital) 5.300 02/15/2020 02/15/2008 A 30,621
- ---------------------------------------------------------------------------------------------------------------------
1,415,000 NYS DA (New York Hospital Medical Center) 5.550 08/15/2029 1 08/15/2009 A 1,471,331
- ---------------------------------------------------------------------------------------------------------------------
100,000 NYS DA (New York Medical College) 5.000 07/01/2021 07/01/2008 A 102,086
- ---------------------------------------------------------------------------------------------------------------------
1,000,000 NYS DA (New York Methodist Hospital) 5.250 07/01/2024 07/01/2014 A 1,038,250
- ---------------------------------------------------------------------------------------------------------------------
10,000 NYS DA (Niagara Lutheran Devel.) 5.450 08/01/2017 08/01/2007 A 10,212
- ---------------------------------------------------------------------------------------------------------------------
4,200,000 NYS DA (North General Hospital) 5.750 02/15/2019 02/15/2013 A 4,535,076
- ---------------------------------------------------------------------------------------------------------------------
3,750,000 NYS DA (North General Hospital) 5.750 02/15/2020 02/15/2013 A 4,047,225
- ---------------------------------------------------------------------------------------------------------------------
25,000 NYS DA (North Shore University Hospital) 5.000 11/01/2023 11/01/2008 A 25,664
- ---------------------------------------------------------------------------------------------------------------------
35,000 NYS DA (North Shore University Hospital) 5.000 11/01/2023 11/01/2008 A 35,578
- ---------------------------------------------------------------------------------------------------------------------
40,000 NYS DA (Northeast Parent & Child) 5.500 07/01/2018 07/01/2009 A 41,644
- ---------------------------------------------------------------------------------------------------------------------
5,000 NYS DA (NSUH/NSUH-Glen Cove/
NSUH-Plainview Obligated Group) 5.000 11/01/2023 11/01/2008 A 5,133
- ---------------------------------------------------------------------------------------------------------------------
5,000 NYS DA (NSUH/NSUH-Glen Cove/
NSUH-Plainview Obligated Group) 5.000 11/01/2023 11/01/2008 A 5,112
- ---------------------------------------------------------------------------------------------------------------------
10,455,000 NYS DA (NSUH/NSUH-Glen Cove/
NSUH-Plainview Obligated Group) 5.200 11/01/2017 11/01/2008 A 10,729,757
- ---------------------------------------------------------------------------------------------------------------------
500,000 NYS DA (Our Lady of Consolation
Geriatric Care Center) 5.900 08/01/2020 02/01/2008 A 500,915
- ---------------------------------------------------------------------------------------------------------------------
270,000 NYS DA (Our Lady of Consolation
Geriatric Care Center) 6.050 08/01/2035 02/01/2008 A 270,529
- ---------------------------------------------------------------------------------------------------------------------
2,500,000 NYS DA (Ozanam Hall of Queens
Nursing Home) 5.000 11/01/2021 11/01/2016 A 2,583,700
- ---------------------------------------------------------------------------------------------------------------------
2,000,000 NYS DA (Park Ridge Hsg.) 6.375 08/01/2020 1 08/01/2010 A 2,110,720
- ---------------------------------------------------------------------------------------------------------------------
1,595,000 NYS DA (Park Ridge Hsg.) 6.500 08/01/2025 1 08/01/2010 A 1,681,688
- ---------------------------------------------------------------------------------------------------------------------
100,000 NYS DA (Pratt Institute) 6.000 07/01/2024 07/01/2010 A 105,327
- ---------------------------------------------------------------------------------------------------------------------
3,680,000 NYS DA (Providence Rest) 5.000 07/01/2021 07/01/2015 A 3,760,334
- ---------------------------------------------------------------------------------------------------------------------
1,250,000 NYS DA (Providence Rest) 5.125 07/01/2030 07/01/2015 A 1,279,238
- ---------------------------------------------------------------------------------------------------------------------
120,000 NYS DA (Resurrection Rest Home
Castleton on Hudson) 6.050 08/01/2035 1 02/01/2008 A 120,187
- ---------------------------------------------------------------------------------------------------------------------
8,730,000 NYS DA (Rochester General Hospital) 5.000 12/01/2025 12/01/2015 A 8,986,575
- ---------------------------------------------------------------------------------------------------------------------
50,000 NYS DA (Rochester Institute of Technology) 5.250 07/01/2025 07/01/2012 A 52,188
- ---------------------------------------------------------------------------------------------------------------------
20,000 NYS DA (Rockefeller University) 5.000 07/01/2028 07/01/2008 A 20,367
- ---------------------------------------------------------------------------------------------------------------------
5,100,000 NYS DA (Ryan-Clinton Community
Health Center) 6.100 07/01/2019 1 01/01/2010 A 5,383,458
- ---------------------------------------------------------------------------------------------------------------------
5,000,000 NYS DA (School District Financing) 5.750 10/01/2022 1 10/01/2012 A 5,395,950
- ---------------------------------------------------------------------------------------------------------------------
120,000 NYS DA (SCHRC) 5.500 07/01/2022 07/01/2009 A 124,615
- ---------------------------------------------------------------------------------------------------------------------
345,000 NYS DA (SCHRC/CHSLI) 5.800 07/01/2015 07/01/2009 A 360,177
- ---------------------------------------------------------------------------------------------------------------------
15,000 NYS DA (SCSMC/SV/CHSLI Obligated Group) 5.750 07/01/2020 07/01/2010 A 15,586
- ---------------------------------------------------------------------------------------------------------------------
15,000,000 NYS DA (SCSMC/SV/CHSLI Obligated Group) 6.500 07/01/2020 1 07/01/2010 A 15,989,700
- ---------------------------------------------------------------------------------------------------------------------
25,000 NYS DA (Service Contract) 5.250 07/01/2019 01/01/2008 A 25,280
37 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ---------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 15,480,000 NYS DA (SFH/GSHMC/MMC/SCHRC
Obligated Group) 5.000% 07/01/2021 07/01/2014 A $ 15,657,710
- ---------------------------------------------------------------------------------------------------------------------
35,000 NYS DA (Skidmore College) 5.000 07/01/2028 07/01/2008 A 35,642
- ---------------------------------------------------------------------------------------------------------------------
200,000 NYS DA (Southside Hospital) 5.000 02/15/2018 02/15/2008 A 203,354
- ---------------------------------------------------------------------------------------------------------------------
65,000 NYS DA (Special Act School Districts) 5.625 07/01/2009 01/01/2008 A 65,096
- ---------------------------------------------------------------------------------------------------------------------
30,000 NYS DA (Special Act School Districts) 5.700 07/01/2010 01/01/2008 A 30,046
- ---------------------------------------------------------------------------------------------------------------------
10,000 NYS DA (Special Act School Districts) 5.750 07/01/2011 01/01/2008 A 10,016
- ---------------------------------------------------------------------------------------------------------------------
320,000 NYS DA (Special Act School Districts) 5.875 07/01/2013 01/01/2008 A 320,534
- ---------------------------------------------------------------------------------------------------------------------
15,000 NYS DA (Special Act School Districts) 6.000 07/01/2016 01/01/2008 A 15,027
- ---------------------------------------------------------------------------------------------------------------------
510,000 NYS DA (Special Act School Districts) 6.000 07/01/2019 01/01/2008 A 510,954
- ---------------------------------------------------------------------------------------------------------------------
100,000 NYS DA (St. Barnabas Hospital) 5.450 08/01/2035 08/01/2007 A 101,124
- ---------------------------------------------------------------------------------------------------------------------
30,000 NYS DA (St. Clare's Hospital) 5.300 02/15/2019 02/15/2008 A 30,697
- ---------------------------------------------------------------------------------------------------------------------
100,000 NYS DA (St. Francis Hospital) 5.500 07/01/2029 07/01/2009 A 103,787
- ---------------------------------------------------------------------------------------------------------------------
35,000 NYS DA (St. John's Health Care Corp.) 6.250 02/01/2036 08/01/2007 A 35,405
- ---------------------------------------------------------------------------------------------------------------------
20,000 NYS DA (St. John's University) 5.250 07/01/2018 07/01/2008 A 20,509
- ---------------------------------------------------------------------------------------------------------------------
5,040,000 NYS DA (St. Joseph's Hospital Health Center) 5.250 07/01/2018 1 01/01/2008 A 5,146,243
- ---------------------------------------------------------------------------------------------------------------------
3,685,000 NYS DA (St. Lawrence) 5.400 08/15/2026 08/15/2017 A 4,029,032
- ---------------------------------------------------------------------------------------------------------------------
101,000,000 NYS DA (St. Lukes Roosevelt Hospital) 5 4.800 08/15/2025 08/15/2015 A 102,044,340
- ---------------------------------------------------------------------------------------------------------------------
2,005,000 NYS DA (St. Vincent DePaul Residence) 5.300 07/01/2018 1 07/01/2009 A 2,059,476
- ---------------------------------------------------------------------------------------------------------------------
80,000 NYS DA (State University Athletic
Facilities) 5.250 07/01/2018 07/01/2008 A 81,904
- ---------------------------------------------------------------------------------------------------------------------
11,365,000 NYS DA (State University Dormitory
Facilities) 5 4.125 07/01/2016 07/01/2016 11,348,017
- ---------------------------------------------------------------------------------------------------------------------
375,000 NYS DA (State University Educational
Facilities) 5.125 05/15/2021 05/15/2008 A 380,438
- ---------------------------------------------------------------------------------------------------------------------
255,000 NYS DA (State University Educational
Facilities) 5.125 05/15/2021 05/01/2008 A 260,238
- ---------------------------------------------------------------------------------------------------------------------
9,700,000 NYS DA (State University Educational
Facilities) 5.375 05/15/2011 05/15/2008 A 9,903,603
- ---------------------------------------------------------------------------------------------------------------------
10,000 NYS DA (Staten Island University Hospital) 5.000 07/01/2017 07/01/2008 A 10,170
- ---------------------------------------------------------------------------------------------------------------------
345,000 NYS DA (Suffern Free Library Assoc.) 5.000 07/01/2020 07/01/2008 A 354,236
- ---------------------------------------------------------------------------------------------------------------------
3,605,000 NYS DA (Teresian House) 5.250 07/01/2017 07/01/2007 3,678,037
- ---------------------------------------------------------------------------------------------------------------------
5,000 NYS DA (The Highlands Living) 6.600 02/01/2034 02/01/2008 A 5,032
- ---------------------------------------------------------------------------------------------------------------------
3,250,000 NYS DA (The Rosalind & Joseph Gurwin
Jewish Geriatric Center of Long Island) 5.400 02/01/2015 08/01/2007 A 3,296,020
- ---------------------------------------------------------------------------------------------------------------------
170,000 NYS DA (The Rosalind & Joseph Gurwin
Jewish Geriatric Center of Long Island) 5.700 02/01/2037 08/01/2007 A 173,633
- ---------------------------------------------------------------------------------------------------------------------
2,145,000 NYS DA (United Cerebral Palsy Assoc. of
Nassau County) 5.500 07/01/2024 01/01/2008 A 2,169,367
- ---------------------------------------------------------------------------------------------------------------------
1,250,000 NYS DA (United Cerebral Palsy Assoc. of
NYC) 5.750 07/01/2018 1 07/01/2012 A 1,357,113
- ---------------------------------------------------------------------------------------------------------------------
175,000 NYS DA (United Health Services Hospitals) 5.375 08/01/2027 02/01/2008 A 179,807
- ---------------------------------------------------------------------------------------------------------------------
20,000 NYS DA (United Health Services Hospitals) 5.500 08/01/2017 02/01/2010 A 20,268
- ---------------------------------------------------------------------------------------------------------------------
220,000 NYS DA (University of Rochester) 5.000 07/01/2027 07/01/2008 A 225,060
38 | LIMITED TERM NEW YORK MUNICIPAL FUND
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ---------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 45,000 NYS DA (University of Rochester) 5.000% 07/01/2027 07/01/2008 A $ 45,825
- ---------------------------------------------------------------------------------------------------------------------
20,000 NYS DA (Upstate Community Colleges) 5.000 07/01/2028 07/01/2009 A 20,394
- ---------------------------------------------------------------------------------------------------------------------
1,905,000 NYS DA (Upstate Community Colleges) 5.125 07/01/2021 07/01/2014 A 1,978,762
- ---------------------------------------------------------------------------------------------------------------------
1,165,000 NYS DA (Upstate Community Colleges) 5.125 07/01/2022 07/01/2014 A 1,209,398
- ---------------------------------------------------------------------------------------------------------------------
35,000 NYS DA (W.K. Nursing Home) 6.050 02/01/2026 08/01/2007 A 35,643
- ---------------------------------------------------------------------------------------------------------------------
2,445,000 NYS DA (W.K. Nursing Home) 6.125 02/01/2036 08/01/2007 A 2,463,289
- ---------------------------------------------------------------------------------------------------------------------
635,000 NYS DA (Wesley Gardens) 6.125 08/01/2035 08/01/2007 A 647,376
- ---------------------------------------------------------------------------------------------------------------------
500,000 NYS DA (Willow Towers) 5.250 02/01/2022 08/01/2012 A 526,095
- ---------------------------------------------------------------------------------------------------------------------
1,000,000 NYS DA (Wyckoff Heights Medical Center) 5.200 02/15/2014 02/15/2008 A 1,022,260
- ---------------------------------------------------------------------------------------------------------------------
1,020,000 NYS DA (Wyckoff Heights Medical Center) 5.300 08/15/2021 02/15/2008 A 1,044,327
- ---------------------------------------------------------------------------------------------------------------------
2,230,000 NYS DA Service Contract (CCFDP) 5.375 04/01/2020 04/01/2012 A 2,328,544
- ---------------------------------------------------------------------------------------------------------------------
2,350,000 NYS DA Service Contract (CCFDP) 5.375 04/01/2021 04/01/2012 A 2,454,881
- ---------------------------------------------------------------------------------------------------------------------
15,000 NYS DA, Series B 5.500 08/15/2017 08/15/2007 A 15,318
- ---------------------------------------------------------------------------------------------------------------------
35,000 NYS DA, Series B 5.625 02/15/2021 08/15/2007 A 35,751
- ---------------------------------------------------------------------------------------------------------------------
39,570,000 NYS DA, Series B 6.650 08/15/2030 08/15/2012 A 43,652,833
- ---------------------------------------------------------------------------------------------------------------------
15,000 NYS EFC 5.600 09/15/2013 09/15/2007 A 15,022
- ---------------------------------------------------------------------------------------------------------------------
1,000,000 NYS EFC 5.650 02/15/2017 08/15/2007 A 1,022,220
- ---------------------------------------------------------------------------------------------------------------------
15,000 NYS EFC (Clean Water & Drinking
Revolving Funds) 5.000 06/15/2019 06/15/2008 A 15,310
- ---------------------------------------------------------------------------------------------------------------------
3,195,000 NYS EFC (Clean Water & Drinking
Revolving Funds) 5.000 06/15/2019 06/15/2008 A 3,262,510
- ---------------------------------------------------------------------------------------------------------------------
860,000 NYS EFC (L.I. Water Corp.) 5.250 08/01/2027 02/01/2008 A 860,559
- ---------------------------------------------------------------------------------------------------------------------
20,000 NYS EFC (NYC Municipal Water
Finance Authority) 5.875 06/15/2014 12/15/2007 A 21,004
- ---------------------------------------------------------------------------------------------------------------------
25,000 NYS EFC (NYS Water Services) 5.700 07/15/2012 01/15/2008 A 25,250
- ---------------------------------------------------------------------------------------------------------------------
1,410,000 NYS EFC (NYS Water Services) 6.875 06/15/2010 1 12/15/2007 A 1,421,520
- ---------------------------------------------------------------------------------------------------------------------
1,705,000 NYS EFC (NYS Water Services) 6.875 06/15/2014 1 12/15/2007 A 1,709,228
- ---------------------------------------------------------------------------------------------------------------------
445,000 NYS EFC (NYS Water Services) 7.250 06/15/2010 1 12/15/2007 A 446,246
- ---------------------------------------------------------------------------------------------------------------------
700,000 NYS EFC (NYS Water Services) 7.500 06/15/2012 1 12/15/2007 A 727,748
- ---------------------------------------------------------------------------------------------------------------------
15,000 NYS EFC (NYS Water Services) 7.500 06/15/2012 1 12/15/2007 A 15,474
- ---------------------------------------------------------------------------------------------------------------------
6,700,000 NYS EFC (Pilgrim State Sewage Treatment) 6.300 03/15/2016 09/15/2007 A 6,722,445
- ---------------------------------------------------------------------------------------------------------------------
500,000 NYS EFC (Pollution Control) 5.550 08/15/2014 08/15/2007 A 511,215
- ---------------------------------------------------------------------------------------------------------------------
780,000 NYS EFC (Spring Valley Water Company) 5.650 11/01/2023 11/01/2007 A 785,226
- ---------------------------------------------------------------------------------------------------------------------
2,000,000 NYS EFC (Spring Valley Water Company) 6.300 08/01/2024 02/01/2008 A 2,006,700
- ---------------------------------------------------------------------------------------------------------------------
1,260,000 NYS EFC (State Water Revolving Fund) 5.800 01/15/2014 01/15/2008 A 1,273,633
- ---------------------------------------------------------------------------------------------------------------------
4,250,000 NYS EFC (Waste Management) 4.450 07/01/2017 07/01/2009 C 4,235,890
- ---------------------------------------------------------------------------------------------------------------------
10,075,000 NYS ERDA (Brooklyn Union Gas Company) 5.500 01/01/2021 01/01/2008 A 10,154,895
- ---------------------------------------------------------------------------------------------------------------------
132,710,000 NYS ERDA (Con Ed) 4.700 06/01/2036 10/03/2007 A 132,733,888
- ---------------------------------------------------------------------------------------------------------------------
70,000 NYS ERDA (Corning Natural Gas) 8.250 12/01/2018 12/01/2007 A 72,051
- ---------------------------------------------------------------------------------------------------------------------
1,005,000 NYS ERDA (LILCO) 5.150 03/01/2016 09/01/2007 A 1,006,085
- ---------------------------------------------------------------------------------------------------------------------
4,465,000 NYS ERDA (LILCO) 5.150 03/01/2016 09/01/2007 A 4,478,797
39 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ----------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 4,230,000 NYS ERDA (LILCO) 5.150% 03/01/2016 09/01/2007 A $ 4,254,196
- ----------------------------------------------------------------------------------------------------------------------
8,725,000 NYS ERDA (LILCO) 5.150 03/01/2016 09/01/2007 A 8,774,907
- ----------------------------------------------------------------------------------------------------------------------
2,140,000 NYS ERDA (NIMO), Series A 5.150 11/01/2025 11/01/2008 A 2,207,303
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYS GO 5.000 09/15/2017 09/15/2008 A 5,121
- ----------------------------------------------------------------------------------------------------------------------
100,000 NYS GO 5.250 10/01/2012 10/01/2007 A 100,362
- ----------------------------------------------------------------------------------------------------------------------
15,000 NYS GO 5.250 11/15/2017 11/15/2007 A 15,079
- ----------------------------------------------------------------------------------------------------------------------
35,000 NYS GO 5.250 05/01/2018 11/01/2007 A 35,177
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYS GO 5.250 11/15/2021 11/15/2007 A 5,026
- ----------------------------------------------------------------------------------------------------------------------
80,000 NYS GO 5.300 07/15/2015 01/15/2008 A 80,495
- ----------------------------------------------------------------------------------------------------------------------
10,000 NYS GO 5.300 07/15/2017 01/15/2008 A 10,062
- ----------------------------------------------------------------------------------------------------------------------
20,000 NYS GO 5.500 07/15/2024 01/15/2008 A 20,127
- ----------------------------------------------------------------------------------------------------------------------
40,000 NYS GO 6.600 12/01/2014 12/01/2007 A 40,466
- ----------------------------------------------------------------------------------------------------------------------
1,625,000 NYS HFA (Economic Devel. & Hsg.) 5.250 03/15/2016 03/15/2013 A 1,733,241
- ----------------------------------------------------------------------------------------------------------------------
840,000 NYS HFA (Golden Age Apartments) 5.000 02/15/2037 02/15/2016 A 831,617
- ----------------------------------------------------------------------------------------------------------------------
15,000 NYS HFA (Hospital & Nursing Home) 5.150 11/01/2016 11/01/2009 A 15,060
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYS HFA (Hospital & Nursing Home) 5.500 11/01/2012 11/01/2007 E 5,339
- ----------------------------------------------------------------------------------------------------------------------
15,000 NYS HFA (Hospital & Nursing Home) 5.875 11/01/2010 11/01/2007 E 15,796
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYS HFA (Hospital & Nursing Home) 5.900 11/01/2010 11/01/2007 E 5,293
- ----------------------------------------------------------------------------------------------------------------------
10,000 NYS HFA (Hospital & Nursing Home) 6.000 11/01/2013 02/01/2008 A 11,012
- ----------------------------------------------------------------------------------------------------------------------
35,000 NYS HFA (Hospital & Nursing Home) 6.000 11/01/2014 11/01/2007 E 39,077
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYS HFA (Hospital & Nursing Home) 6.875 11/01/2009 11/01/2007 E 5,316
- ----------------------------------------------------------------------------------------------------------------------
25,000 NYS HFA (Loewn Devel. of Wappingers Falls) 5.250 08/15/2019 02/15/2009 A 25,388
- ----------------------------------------------------------------------------------------------------------------------
70,000 NYS HFA (Meadow Manor) 7.750 11/01/2019 1 11/01/2007 A 71,098
- ----------------------------------------------------------------------------------------------------------------------
345,000 NYS HFA (Multifamily Hsg.) 5.300 08/15/2022 08/15/2012 A 351,403
- ----------------------------------------------------------------------------------------------------------------------
50,000 NYS HFA (Multifamily Hsg.) 5.400 02/15/2016 02/15/2011 A 51,191
- ----------------------------------------------------------------------------------------------------------------------
40,000 NYS HFA (Multifamily Hsg.) 5.600 02/15/2011 08/15/2009 A 40,504
- ----------------------------------------------------------------------------------------------------------------------
525,000 NYS HFA (Multifamily Hsg.) 5.850 08/15/2013 1 08/15/2007 A 532,455
- ----------------------------------------------------------------------------------------------------------------------
175,000 NYS HFA (Multifamily Hsg.) 5.950 08/15/2024 1 08/15/2007 A 176,139
- ----------------------------------------------------------------------------------------------------------------------
185,000 NYS HFA (Multifamily Hsg.) 6.000 08/15/2027 1 02/15/2008 A 191,703
- ----------------------------------------------------------------------------------------------------------------------
115,000 NYS HFA (Multifamily Hsg.) 6.050 08/15/2032 08/15/2007 A 116,769
- ----------------------------------------------------------------------------------------------------------------------
1,000,000 NYS HFA (Multifamily Hsg.) 6.100 08/15/2016 1 08/15/2008 A 1,010,310
- ----------------------------------------------------------------------------------------------------------------------
50,000 NYS HFA (Multifamily Hsg.) 6.100 08/15/2028 08/15/2007 A 50,716
- ----------------------------------------------------------------------------------------------------------------------
465,000 NYS HFA (Multifamily Hsg.) 6.100 11/15/2036 11/15/2007 A 479,196
- ----------------------------------------------------------------------------------------------------------------------
20,000 NYS HFA (Multifamily Hsg.) 6.200 08/15/2012 1 08/15/2007 A 20,027
- ----------------------------------------------------------------------------------------------------------------------
15,000 NYS HFA (Multifamily Hsg.) 6.250 08/15/2014 1 08/15/2007 A 15,020
- ----------------------------------------------------------------------------------------------------------------------
15,000 NYS HFA (Multifamily Hsg.) 6.250 08/15/2014 08/15/2007 A 15,020
- ----------------------------------------------------------------------------------------------------------------------
250,000 NYS HFA (Multifamily Hsg.) 6.250 08/15/2023 1 08/15/2007 A 254,453
- ----------------------------------------------------------------------------------------------------------------------
30,000 NYS HFA (Multifamily Hsg.) 6.250 08/15/2023 08/15/2007 A 30,034
- ----------------------------------------------------------------------------------------------------------------------
125,000 NYS HFA (Multifamily Hsg.) 6.250 08/15/2025 08/15/2007 A 128,815
- ----------------------------------------------------------------------------------------------------------------------
135,000 NYS HFA (Multifamily Hsg.) 6.250 08/15/2027 1 08/15/2007 A 136,723
- ----------------------------------------------------------------------------------------------------------------------
280,000 NYS HFA (Multifamily Hsg.) 6.350 08/15/2023 1 08/15/2007 A 282,632
40 | LIMITED TERM NEW YORK MUNICIPAL FUND
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ----------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 455,000 NYS HFA (Multifamily Hsg.) 6.625% 08/15/2012 08/15/2007 A $ 455,573
- ----------------------------------------------------------------------------------------------------------------------
1,365,000 NYS HFA (Multifamily Hsg.) 6.700 08/15/2025 1 08/15/2007 A 1,366,570
- ----------------------------------------------------------------------------------------------------------------------
450,000 NYS HFA (Multifamily Hsg.) 6.750 11/15/2036 11/15/2007 A 456,062
- ----------------------------------------------------------------------------------------------------------------------
90,000 NYS HFA (Multifamily Hsg.) 6.850 11/01/2019 1 11/01/2007 A 92,098
- ----------------------------------------------------------------------------------------------------------------------
30,000 NYS HFA (Multifamily Hsg.) 6.950 08/15/2012 1 08/15/2007 A 30,417
- ----------------------------------------------------------------------------------------------------------------------
130,000 NYS HFA (Multifamily Hsg.) 7.000 08/15/2022 08/15/2007 A 131,455
- ----------------------------------------------------------------------------------------------------------------------
15,000 NYS HFA (Nonprofit Hsg.) 6.200 11/01/2007 11/01/2007 15,079
- ----------------------------------------------------------------------------------------------------------------------
30,000 NYS HFA (Nonprofit Hsg.) 6.200 11/01/2008 11/01/2007 A 30,414
- ----------------------------------------------------------------------------------------------------------------------
30,000 NYS HFA (Nonprofit Hsg.) 6.200 11/01/2009 11/01/2007 A 30,414
- ----------------------------------------------------------------------------------------------------------------------
50,000 NYS HFA (Nonprofit Hsg.) 6.200 11/01/2011 11/01/2007 A 50,690
- ----------------------------------------------------------------------------------------------------------------------
40,000 NYS HFA (Nonprofit Hsg.) 6.200 11/01/2012 11/01/2007 A 40,400
- ----------------------------------------------------------------------------------------------------------------------
25,000 NYS HFA (Nonprofit Hsg.) 6.200 11/01/2013 11/01/2007 A 25,345
- ----------------------------------------------------------------------------------------------------------------------
6,000 NYS HFA (Nonprofit Hsg.) 6.600 11/01/2009 11/01/2007 A 6,128
- ----------------------------------------------------------------------------------------------------------------------
9,000 NYS HFA (Nonprofit Hsg.) 6.875 11/01/2010 11/01/2007 A 9,212
- ----------------------------------------------------------------------------------------------------------------------
405,000 NYS HFA (Nonprofit Hsg.) 8.400 11/01/2007 11/01/2007 409,702
- ----------------------------------------------------------------------------------------------------------------------
445,000 NYS HFA (Nonprofit Hsg.) 8.400 11/01/2008 11/01/2007 A 451,172
- ----------------------------------------------------------------------------------------------------------------------
4,275,000 NYS HFA (NYC Health Facilities) 6.000 05/01/2008 11/01/2007 A 4,313,988
- ----------------------------------------------------------------------------------------------------------------------
2,330,000 NYS HFA (Phillips Village) 7.750 08/15/2017 08/15/2007 A 2,364,321
- ----------------------------------------------------------------------------------------------------------------------
55,000 NYS HFA (Service Contract) 5.375 03/15/2023 09/15/2007 A 55,064
- ----------------------------------------------------------------------------------------------------------------------
580,000 NYS HFA (Service Contract) 5.500 09/15/2018 03/15/2008 A 592,598
- ----------------------------------------------------------------------------------------------------------------------
1,890,000 NYS HFA (Service Contract) 5.500 09/15/2022 1 03/15/2008 A 1,928,594
- ----------------------------------------------------------------------------------------------------------------------
560,000 NYS HFA (Service Contract) 6.000 03/15/2026 09/15/2007 A 572,074
- ----------------------------------------------------------------------------------------------------------------------
1,865,000 NYS HFA (Simeon Dewitt) 8.000 11/01/2018 1 11/01/2007 A 1,896,761
- ----------------------------------------------------------------------------------------------------------------------
400,000 NYS HFA (Tiffany Gardens) 4.500 08/15/2015 03/01/2012 B 397,132
- ----------------------------------------------------------------------------------------------------------------------
275,000 NYS HFA (Wyndham Lawn Home for Children) 5.900 08/15/2017 08/15/2007 A 284,834
- ----------------------------------------------------------------------------------------------------------------------
115,000 NYS HFA, Series A 5.800 11/01/2009 11/01/2007 A 115,390
- ----------------------------------------------------------------------------------------------------------------------
130,000 NYS HFA, Series A 5.875 11/01/2010 11/01/2007 A 131,494
- ----------------------------------------------------------------------------------------------------------------------
12,205,000 NYS HFA, Series A 6.100 11/01/2015 1 11/01/2007 A 12,348,897
- ----------------------------------------------------------------------------------------------------------------------
6,395,000 NYS HFA, Series A 6.125 11/01/2020 1 11/01/2007 A 6,469,566
- ----------------------------------------------------------------------------------------------------------------------
3,650,000 NYS HFA, Series C 5.500 09/15/2018 03/15/2008 A 3,728,256
- ----------------------------------------------------------------------------------------------------------------------
55,000 NYS LGAC 4.875 04/01/2020 04/01/2008 A 55,926
- ----------------------------------------------------------------------------------------------------------------------
35,000 NYS LGAC 5.000 04/01/2021 04/01/2008 A 35,636
- ----------------------------------------------------------------------------------------------------------------------
25,000 NYS LGAC 5.125 04/01/2011 10/01/2007 A 25,330
- ----------------------------------------------------------------------------------------------------------------------
140,000 NYS LGAC 5.375 04/01/2016 10/01/2007 A 142,458
- ----------------------------------------------------------------------------------------------------------------------
130,000 NYS LGAC 5.375 04/01/2019 10/01/2007 A 132,894
- ----------------------------------------------------------------------------------------------------------------------
150,000 NYS LGAC 5.375 04/01/2019 10/01/2007 A 153,339
- ----------------------------------------------------------------------------------------------------------------------
100,000 NYS LGAC 5.400 04/01/2013 10/01/2007 A 101,783
- ----------------------------------------------------------------------------------------------------------------------
11,415,000 NYS LGAC 5.400 04/01/2015 10/01/2007 A 11,618,529
- ----------------------------------------------------------------------------------------------------------------------
240,000 NYS LGSC (SCSB) 3 6.375 12/15/2009 12/22/2008 B 245,801
- ----------------------------------------------------------------------------------------------------------------------
435,000 NYS Medcare (Hospital & Nursing Home) 5.400 08/15/2033 1 08/15/2007 A 437,897
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYS Medcare (Hospital & Nursing Home) 6.100 08/15/2015 08/15/2007 A 5,058
41 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ----------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 715,000 NYS Medcare (Hospital & Nursing Home) 6.200% 08/15/2013 08/15/2007 A $ 716,173
- ----------------------------------------------------------------------------------------------------------------------
125,000 NYS Medcare (Hospital & Nursing Home) 6.200 08/15/2022 08/15/2007 A 125,788
- ----------------------------------------------------------------------------------------------------------------------
15,000 NYS Medcare (Hospital & Nursing Home) 6.200 08/15/2022 08/15/2007 A 15,030
- ----------------------------------------------------------------------------------------------------------------------
1,200,000 NYS Medcare (Hospital & Nursing Home) 6.300 08/15/2023 08/15/2007 A 1,202,052
- ----------------------------------------------------------------------------------------------------------------------
310,000 NYS Medcare (Hospital & Nursing Home) 7.000 08/15/2032 08/15/2007 A 311,500
- ----------------------------------------------------------------------------------------------------------------------
105,000 NYS Medcare (Hospital & Nursing Home) 7.400 11/01/2016 1 11/01/2007 A 105,510
- ----------------------------------------------------------------------------------------------------------------------
110,000 NYS Medcare (Hospital & Nursing Home) 9.375 11/01/2016 1 11/01/2007 A 113,981
- ----------------------------------------------------------------------------------------------------------------------
150,000 NYS Medcare (M.G. Nursing Home) 6.375 02/15/2035 08/15/2007 A 150,398
- ----------------------------------------------------------------------------------------------------------------------
80,000 NYS Medcare (Montefiore Medical Center) 5.700 02/15/2012 08/15/2007 A 80,110
- ----------------------------------------------------------------------------------------------------------------------
6,820,000 NYS Medcare (Montefiore Medical Center) 5.750 02/15/2015 08/15/2007 A 6,957,423
- ----------------------------------------------------------------------------------------------------------------------
8,150,000 NYS Medcare (Montefiore Medical Center) 5.750 02/15/2025 1 08/15/2007 A 8,338,754
- ----------------------------------------------------------------------------------------------------------------------
540,000 NYS Medcare (Montefiore Medical Center) 6.000 02/15/2035 08/15/2007 A 540,859
- ----------------------------------------------------------------------------------------------------------------------
25,000 NYS Medcare (St. Peter's Hospital) 5.250 11/01/2007 11/01/2007 25,026
- ----------------------------------------------------------------------------------------------------------------------
25,000 NYS Medcare (St. Peter's Hospital) 5.375 11/01/2013 11/01/2007 A 25,028
- ----------------------------------------------------------------------------------------------------------------------
280,000 NYS Medcare (St. Peter's Hospital) 5.375 11/01/2020 11/01/2007 A 282,092
- ----------------------------------------------------------------------------------------------------------------------
10,710,000 NYS Municipal Bond Bank Agency
(Special School Purpose) 5.250 12/01/2019 06/01/2013 A 11,268,098
- ----------------------------------------------------------------------------------------------------------------------
2,930,000 NYS Municipal Bond Bank Agency
(Special School Purpose) 5.500 06/01/2015 06/01/2013 A 3,133,635
- ----------------------------------------------------------------------------------------------------------------------
2,285,000 NYS Power Authority 5.250 11/15/2030 11/15/2010 A 2,364,815
- ----------------------------------------------------------------------------------------------------------------------
5,000 NYS Power Authority 5.875 01/01/2010 01/01/2008 A 5,131
- ----------------------------------------------------------------------------------------------------------------------
27,310,000 NYS Thruway Authority 5 4.000 01/01/2015 01/01/2015 27,248,553
- ----------------------------------------------------------------------------------------------------------------------
25,000 NYS Thruway Authority 5.000 04/01/2017 10/01/2007 A 25,513
- ----------------------------------------------------------------------------------------------------------------------
15,000 NYS Thruway Authority 5.250 04/01/2012 04/01/2008 A 15,314
- ----------------------------------------------------------------------------------------------------------------------
500,000 NYS Thruway Authority 5.250 04/01/2013 04/01/2008 A 510,290
- ----------------------------------------------------------------------------------------------------------------------
20,000 NYS Thruway Authority 5.250 04/01/2015 04/01/2008 A 20,412
- ----------------------------------------------------------------------------------------------------------------------
1,240,000 NYS Thruway Authority 6.000 04/01/2012 10/01/2007 A 1,266,028
- ----------------------------------------------------------------------------------------------------------------------
15,000 NYS Thruway Authority Service Contract
(Highway & Bridge) 5.375 04/01/2013 04/01/2008 A 15,328
- ----------------------------------------------------------------------------------------------------------------------
1,020,000 NYS Thruway Authority Service Contract
(Highway & Bridge) 6.000 04/01/2011 10/01/2007 A 1,041,410
- ----------------------------------------------------------------------------------------------------------------------
1,330,000 NYS Thruway Authority Service Contract
(Highway & Bridge) 6.000 04/01/2011 10/01/2007 A 1,357,917
- ----------------------------------------------------------------------------------------------------------------------
5,170,000 NYS Thruway Authority Service Contract
(Highway & Bridge) 6.000 04/01/2012 10/01/2007 A 5,278,518
- ----------------------------------------------------------------------------------------------------------------------
55,000 NYS Thruway Authority, Series B 5.250 04/01/2014 04/01/2008 A 56,132
- ----------------------------------------------------------------------------------------------------------------------
420,000 NYS Thruway Authority, Series E 5.000 01/01/2025 01/01/2008 A 426,283
- ----------------------------------------------------------------------------------------------------------------------
3,575,000 NYS Thruway Authority, Series E 5.000 01/01/2025 01/01/2008 A 3,628,482
- ----------------------------------------------------------------------------------------------------------------------
585,000 NYS Thruway Authority, Series E 5.250 01/01/2015 01/01/2008 A 595,033
- ----------------------------------------------------------------------------------------------------------------------
20,000 NYS UDC (Correctional Facilities) 5.000 01/01/2014 01/01/2008 A 20,513
- ----------------------------------------------------------------------------------------------------------------------
370,000 NYS UDC (Correctional Facilities) 5.000 01/01/2019 01/01/2008 A 375,868
- ----------------------------------------------------------------------------------------------------------------------
100,000 NYS UDC (Correctional Facilities) 5.000 01/01/2020 1 01/01/2008 A 102,254
42 | LIMITED TERM NEW YORK MUNICIPAL FUND
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ----------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 50,000 NYS UDC (Correctional Facilities) 5.000% 01/01/2020 01/01/2008 A $ 50,734
- ----------------------------------------------------------------------------------------------------------------------
10,000,000 NYS UDC (Personal Income Tax) 5.250 03/15/2034 03/15/2014 A 10,513,500
- ----------------------------------------------------------------------------------------------------------------------
76,865,000 NYS UDC (South Mall) CAB 5.572 7 01/01/2011 05/27/2009 B 62,605,774
- ----------------------------------------------------------------------------------------------------------------------
565,000 NYS UDC (South Mall) CAB 5.923 7 01/01/2011 05/27/2009 B 456,752
- ----------------------------------------------------------------------------------------------------------------------
620,000 NYS UDC (South Mall) CAB 5.978 7 01/01/2011 05/27/2009 B 501,214
- ----------------------------------------------------------------------------------------------------------------------
4,000,000 NYS UDC (Subordinated Lien) 5.125 07/01/2020 07/01/2014 A 4,186,680
- ----------------------------------------------------------------------------------------------------------------------
1,000,000 NYS UDC (Subordinated Lien) 5.125 07/01/2021 07/01/2014 A 1,044,830
- ----------------------------------------------------------------------------------------------------------------------
1,255,000 NYS UDC (Subordinated Lien) 5.375 07/01/2022 01/01/2008 A 1,269,119
- ----------------------------------------------------------------------------------------------------------------------
4,735,000 NYS UDC (Subordinated Lien) 5.500 07/01/2016 07/01/2008 A 4,787,511
- ----------------------------------------------------------------------------------------------------------------------
15,350,000 NYS UDC (Subordinated Lien) 5.500 07/01/2016 1 01/01/2008 A 15,524,069
- ----------------------------------------------------------------------------------------------------------------------
6,495,000 NYS UDC (Subordinated Lien) 5.500 07/01/2022 1 01/01/2008 A 6,566,510
- ----------------------------------------------------------------------------------------------------------------------
3,235,000 NYS UDC (Subordinated Lien) 5.500 07/01/2026 01/01/2008 A 3,293,068
- ----------------------------------------------------------------------------------------------------------------------
2,210,000 NYS UDC (Subordinated Lien) 5.500 07/01/2026 01/01/2008 A 2,250,333
- ----------------------------------------------------------------------------------------------------------------------
6,720,000 NYS UDC (Subordinated Lien) 5.600 07/01/2026 1 01/01/2008 A 6,794,525
- ----------------------------------------------------------------------------------------------------------------------
70,000 Oneida County GO 5.400 03/15/2011 09/15/2007 A 70,233
- ----------------------------------------------------------------------------------------------------------------------
175,000 Oneida County IDA (Bonide Products) 5.750 11/01/2007 11/01/2007 175,298
- ----------------------------------------------------------------------------------------------------------------------
2,285,000 Oneida County IDA (Faxton Hospital) 6.625 01/01/2015 1 01/01/2010 A 2,436,907
- ----------------------------------------------------------------------------------------------------------------------
600,000 Oneida County IDA (Presbyterian Home) 6.100 06/01/2020 06/01/2010 A 632,520
- ----------------------------------------------------------------------------------------------------------------------
1,000,000 Oneida County IDA (Presbyterian Home) 6.250 06/01/2015 06/01/2010 A 1,059,740
- ----------------------------------------------------------------------------------------------------------------------
50,000 Oneida Healthcare Corp. (Oneida Health
Systems) 5.300 02/01/2021 02/01/2011 A 51,890
- ----------------------------------------------------------------------------------------------------------------------
3,895,000 Oneida Healthcare Corp. (Oneida Health
Systems) 5.500 02/01/2016 1 02/01/2011 A 4,078,883
- ----------------------------------------------------------------------------------------------------------------------
215,000 Onondaga County IDA (Coltec Industries) 7.250 06/01/2008 1 12/01/2007 A 217,322
- ----------------------------------------------------------------------------------------------------------------------
365,000 Onondaga County IDA (Coltec Industries) 9.875 10/01/2010 10/01/2007 A 369,420
- ----------------------------------------------------------------------------------------------------------------------
2,605,000 Onondaga County IDA (Le Moyne College) 5.000 12/01/2012 07/22/2010 D 2,668,588
- ----------------------------------------------------------------------------------------------------------------------
920,000 Onondaga County IDA (Le Moyne College) 5.500 03/01/2014 03/01/2009 A 942,798
- ----------------------------------------------------------------------------------------------------------------------
20,445,000 Onondaga County Res Rec 5.000 05/01/2010 04/24/2009 B 20,405,746
- ----------------------------------------------------------------------------------------------------------------------
25,000 Ontario County GO 5.550 08/15/2009 08/15/2007 A 25,055
- ----------------------------------------------------------------------------------------------------------------------
230,000 Orange County IDA (Glen Arden) 5.400 01/01/2008 01/01/2008 230,817
- ----------------------------------------------------------------------------------------------------------------------
40,000 Orange County IDA (Orange Mental
Retardation Properties) 6.000 05/01/2008 11/01/2007 A 40,458
- ----------------------------------------------------------------------------------------------------------------------
60,000 Orange County IDA (Orange Mental
Retardation Properties) 6.125 05/01/2016 1 11/01/2007 A 60,668
- ----------------------------------------------------------------------------------------------------------------------
5,065,000 Orange County IDA (St. Luke's Cornwall
Hospital Obligated Group) 6.000 12/01/2016 1 12/01/2011 A 5,461,843
- ----------------------------------------------------------------------------------------------------------------------
1,920,000 Orange County IDA (St. Luke's Cornwall
Hospital Obligated Group) 6.000 12/01/2016 1 12/01/2011 A 2,070,432
- ----------------------------------------------------------------------------------------------------------------------
50,000 Oswego County IDA (Seneca Hill Manor) 5.550 08/01/2022 08/01/2007 A 51,069
- ----------------------------------------------------------------------------------------------------------------------
250,000 Oswego County IDA (Seneca Hill Manor) 5.650 08/01/2037 08/01/2007 A 255,308
- ----------------------------------------------------------------------------------------------------------------------
575,000 Otsego County IDA (Mary Imogene
Bassett Hospital) 5.350 11/01/2020 11/01/2008 A 591,997
- ----------------------------------------------------------------------------------------------------------------------
35,000 Oyster Bay GO 5.000 12/01/2018 12/01/2007 A 35,179
- ----------------------------------------------------------------------------------------------------------------------
50,000 Philadelphia GO 7.500 12/15/2009 12/15/2009 54,028
43 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ------------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 21,985,000 Port Authority NY/NJ (Delta Air Lines) 3 6.950% 06/01/2008 12/01/2007 A $ 22,204,850
- ------------------------------------------------------------------------------------------------------------------------
18,355,000 Port Authority NY/NJ (JFK International
Air Terminal) 5 6.250 12/01/2014 06/01/2012 A 20,671,963
- ------------------------------------------------------------------------------------------------------------------------
62,640,000 Port Authority NY/NJ (JFK International
Air Terminal) 5.750 12/01/2022 1 12/01/2007 A 64,296,828
- ------------------------------------------------------------------------------------------------------------------------
40,915,000 Port Authority NY/NJ (JFK International
Air Terminal) 5.750 12/01/2025 12/01/2007 A 41,192,813
- ------------------------------------------------------------------------------------------------------------------------
32,140,000 Port Authority NY/NJ (JFK International
Air Terminal) 5.900 12/01/2017 1 12/01/2007 A 33,011,637
- ------------------------------------------------------------------------------------------------------------------------
24,410,000 Port Authority NY/NJ (KIAC) 6.750 10/01/2011 10/01/2008 A 24,680,951
- ------------------------------------------------------------------------------------------------------------------------
27,570,000 Port Authority NY/NJ (KIAC) 6.750 10/01/2019 1 10/01/2008 A 27,885,677
- ------------------------------------------------------------------------------------------------------------------------
3,500,000 Port Authority NY/NJ (KIAC) 7.000 10/01/2007 10/01/2007 3,511,445
- ------------------------------------------------------------------------------------------------------------------------
20,000 Port Authority NY/NJ, 103rd Series 5.250 12/15/2012 12/16/2007 A 20,123
- ------------------------------------------------------------------------------------------------------------------------
25,000 Port Authority NY/NJ, 108th Series 5.300 07/15/2009 01/16/2008 A 25,264
- ------------------------------------------------------------------------------------------------------------------------
130,000 Port Authority NY/NJ, 108th Series 5.400 07/15/2010 07/15/2007 A 131,377
- ------------------------------------------------------------------------------------------------------------------------
190,000 Port Authority NY/NJ, 108th Series 5.400 07/15/2012 07/15/2007 A 192,012
- ------------------------------------------------------------------------------------------------------------------------
285,000 Port Authority NY/NJ, 108th Series 5.500 07/15/2013 07/15/2007 A 288,030
- ------------------------------------------------------------------------------------------------------------------------
205,000 Port Authority NY/NJ, 108th Series 5.500 07/15/2014 07/15/2007 A 207,179
- ------------------------------------------------------------------------------------------------------------------------
10,170,000 Port Authority NY/NJ, 108th Series 5.875 01/15/2017 07/15/2007 A 10,279,836
- ------------------------------------------------------------------------------------------------------------------------
85,000 Port Authority NY/NJ, 108th Series 6.000 07/15/2008 01/16/2008 A 85,922
- ------------------------------------------------------------------------------------------------------------------------
15,260,000 Port Authority NY/NJ, 109th Series 5.375 07/15/2022 01/16/2008 A 15,431,217
- ------------------------------------------------------------------------------------------------------------------------
585,000 Port Authority NY/NJ, 109th Series 5.375 07/15/2027 01/16/2008 A 591,482
- ------------------------------------------------------------------------------------------------------------------------
175,000 Port Authority NY/NJ, 109th Series 5.375 01/15/2032 01/16/2008 A 176,923
- ------------------------------------------------------------------------------------------------------------------------
50,000 Port Authority NY/NJ, 109th Series 5.500 07/15/2017 07/15/2007 A 50,562
- ------------------------------------------------------------------------------------------------------------------------
245,000 Port Authority NY/NJ, 111th Series 5.000 10/01/2022 1 10/01/2007 A 248,065
- ------------------------------------------------------------------------------------------------------------------------
195,000 Port Authority NY/NJ, 111th Series 5.000 10/01/2027 10/01/2007 A 197,170
- ------------------------------------------------------------------------------------------------------------------------
100,000 Port Authority NY/NJ, 116th Series 5.000 10/01/2013 10/02/2007 A 100,308
- ------------------------------------------------------------------------------------------------------------------------
135,000 Port Authority NY/NJ, 116th Series 5.250 10/01/2014 10/02/2007 A 135,502
- ------------------------------------------------------------------------------------------------------------------------
55,000 Port Authority NY/NJ, 116th Series 5.250 10/01/2015 10/02/2007 A 55,201
- ------------------------------------------------------------------------------------------------------------------------
150,000 Port Authority NY/NJ, 120th Series 5.375 10/15/2016 10/15/2007 A 152,016
- ------------------------------------------------------------------------------------------------------------------------
10,000 Port Authority NY/NJ, 120th Series 5.500 10/15/2017 10/15/2007 A 10,138
- ------------------------------------------------------------------------------------------------------------------------
7,075,000 Port Authority NY/NJ, 120th Series 5.500 10/15/2035 10/15/2007 A 7,172,211
- ------------------------------------------------------------------------------------------------------------------------
6,230,000 Port Authority NY/NJ, 120th Series 5.750 10/15/2011 10/15/2007 A 6,323,575
- ------------------------------------------------------------------------------------------------------------------------
7,000,000 Port Authority NY/NJ, 120th Series 5.750 10/15/2026 10/15/2007 A 7,102,690
- ------------------------------------------------------------------------------------------------------------------------
20,000 Port Authority NY/NJ, 121st Series 5.000 10/15/2020 10/15/2007 A 20,267
- ------------------------------------------------------------------------------------------------------------------------
40,000 Port Authority NY/NJ, 121st Series 5.000 10/15/2021 10/15/2007 A 40,534
- ------------------------------------------------------------------------------------------------------------------------
25,000 Port Authority NY/NJ, 121st Series 5.000 10/15/2022 10/15/2007 A 25,327
- ------------------------------------------------------------------------------------------------------------------------
1,125,000 Port Authority NY/NJ, 121st Series 5.125 10/15/2030 10/15/2007 A 1,139,659
- ------------------------------------------------------------------------------------------------------------------------
75,000 Port Authority NY/NJ, 121st Series 5.250 10/15/2025 10/15/2007 A 76,012
- ------------------------------------------------------------------------------------------------------------------------
30,000 Port Authority NY/NJ, 122nd Series 5.000 07/15/2020 07/15/2010 A 30,396
- ------------------------------------------------------------------------------------------------------------------------
165,000 Port Authority NY/NJ, 122nd Series 5.000 07/15/2031 07/15/2008 A 166,432
- ------------------------------------------------------------------------------------------------------------------------
55,000 Port Authority NY/NJ, 122nd Series 5.000 07/15/2031 07/15/2008 A 55,540
44 | LIMITED TERM NEW YORK MUNICIPAL FUND
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ----------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 2,000,000 Port Authority NY/NJ, 122nd Series 5.500% 07/15/2011 07/15/2008 A $ 2,049,540
- ----------------------------------------------------------------------------------------------------------------------
170,000 Port Authority NY/NJ, 122nd Series 5.500 07/15/2015 07/15/2008 A 174,211
- ----------------------------------------------------------------------------------------------------------------------
30,000 Port Authority NY/NJ, 124th Series 4.800 08/01/2018 08/02/2008 A 30,294
- ----------------------------------------------------------------------------------------------------------------------
950,000 Port Authority NY/NJ, 124th Series 5.000 08/01/2019 08/01/2008 A 965,979
- ----------------------------------------------------------------------------------------------------------------------
20,000 Port Authority NY/NJ, 124th Series 5.000 08/01/2021 08/01/2008 A 20,336
- ----------------------------------------------------------------------------------------------------------------------
265,000 Port Authority NY/NJ, 124th Series 5.000 08/01/2022 08/01/2008 A 268,617
- ----------------------------------------------------------------------------------------------------------------------
300,000 Port Authority NY/NJ, 124th Series 5.000 08/01/2024 08/01/2008 A 304,887
- ----------------------------------------------------------------------------------------------------------------------
100,000 Port Authority NY/NJ, 124th Series 5.000 08/01/2025 08/01/2008 A 101,193
- ----------------------------------------------------------------------------------------------------------------------
60,000 Port Authority NY/NJ, 124th Series 5.000 08/01/2031 08/01/2008 A 60,595
- ----------------------------------------------------------------------------------------------------------------------
320,000 Port Authority NY/NJ, 124th Series 5.000 08/01/2031 08/01/2008 A 322,810
- ----------------------------------------------------------------------------------------------------------------------
15,000 Port Authority NY/NJ, 126th Series 5.000 11/15/2024 05/15/2012 A 15,385
- ----------------------------------------------------------------------------------------------------------------------
230,000 Port Authority NY/NJ, 127th Series 5.000 12/15/2022 06/15/2012 A 237,079
- ----------------------------------------------------------------------------------------------------------------------
30,000 Port Authority NY/NJ, 127th Series 5.000 12/15/2024 06/15/2012 A 30,851
- ----------------------------------------------------------------------------------------------------------------------
1,500,000 Port Authority NY/NJ, 131st Series 5.000 12/15/2020 06/15/2013 A 1,546,650
- ----------------------------------------------------------------------------------------------------------------------
10,000 Port Authority NY/NJ, 131st Series 5.000 12/15/2026 06/15/2014 A 10,217
- ----------------------------------------------------------------------------------------------------------------------
11,860,000 Port Authority NY/NJ, 139th Series 5 4.625 10/01/2019 04/01/2015 A 11,954,761
- ----------------------------------------------------------------------------------------------------------------------
13,745,000 Port Authority NY/NJ, 141st Series 5.000 09/01/2021 09/01/2015 A 14,181,266
- ----------------------------------------------------------------------------------------------------------------------
14,110,000 Port Authority NY/NJ, 141st Series 5.000 09/01/2022 09/01/2015 A 14,528,785
- ----------------------------------------------------------------------------------------------------------------------
16,455,000 Port Authority NY/NJ, 141st Series 5.000 09/01/2025 09/01/2015 A 16,920,677
- ----------------------------------------------------------------------------------------------------------------------
9,000,000 Port Authority NY/NJ, 143rd Series 5.000 10/01/2021 04/01/2016 A 9,328,680
- ----------------------------------------------------------------------------------------------------------------------
24,775,000 Port Authority NY/NJ, 146th Series 5.000 12/01/2022 12/01/2016 A 25,678,297
- ----------------------------------------------------------------------------------------------------------------------
15,670,000 Port Authority NY/NJ, 147th Series 5.000 10/15/2022 04/15/2017 A 16,258,879
- ----------------------------------------------------------------------------------------------------------------------
2,000,000 Port Authority NY/NJ, 147th Series 5.000 10/15/2026 04/15/2017 A 2,063,980
- ----------------------------------------------------------------------------------------------------------------------
100,000 Port Authority NY/NJ, 190th Series 5.500 07/15/2016 01/15/2008 A 101,126
- ----------------------------------------------------------------------------------------------------------------------
25,000 Port Chester IDA (Nadel Industries) 7.000 02/01/2016 02/01/2008 E 25,461
- ----------------------------------------------------------------------------------------------------------------------
1,465,000 Poughkeepsie IDA (Eastman & Bixby
Redevel. Corp.) 5.900 08/01/2020 08/01/2010 A 1,528,273
- ----------------------------------------------------------------------------------------------------------------------
330,000 Putnam County IDA (Brewster Plastics) 7.375 12/01/2008 04/23/2008 B 331,505
- ----------------------------------------------------------------------------------------------------------------------
1,200,000 Rensselaer County IDA (Franciscan
Heights) 5.375 12/01/2025 12/01/2014 A 1,260,564
- ----------------------------------------------------------------------------------------------------------------------
40,000 Rensselaer County IDA (Rensselaer
Polytechnical Institute) 5.125 08/01/2029 08/01/2009 A 40,836
- ----------------------------------------------------------------------------------------------------------------------
50,000 Rensselaer County IDA (Rensselaer
Polytechnical Institute) 5.500 08/01/2022 08/01/2009 A 51,637
- ----------------------------------------------------------------------------------------------------------------------
2,825,000 Rensselaer County Tobacco Asset
Securitization Corp. 5.200 06/01/2025 12/04/2010 D 2,896,557
- ----------------------------------------------------------------------------------------------------------------------
1,490,000 Rensselaer County Tobacco Asset
Securitization Corp. 5.750 06/01/2043 06/01/2012 A 1,559,106
- ----------------------------------------------------------------------------------------------------------------------
105,000 Rensselaer Hsg. Authority (Renwyck) 7.650 01/01/2011 01/01/2008 A 106,505
- ----------------------------------------------------------------------------------------------------------------------
55,000 Rensselaer Municipal Leasing Corp.
(Rensselaer County Nursing Home) 6.900 06/01/2024 12/01/2007 A 55,508
- ----------------------------------------------------------------------------------------------------------------------
1,325,000 Riverhead HDC (Riverpointe Apartments) 5.850 08/01/2010 04/09/2009 D 1,331,758
- ----------------------------------------------------------------------------------------------------------------------
250,000 Rochester Hsg. Authority (Stonewood
Village) 5.900 09/01/2009 09/22/2008 B 249,248
45 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ------------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 40,000 Rockland County Solid Waste
Management Authority 5.625% 12/15/2014 12/15/2007 A $ 40,850
- ------------------------------------------------------------------------------------------------------------------------
55,000 Rockland County Solid Waste
Management Authority 5.750 12/15/2018 12/15/2009 A 57,253
- ------------------------------------------------------------------------------------------------------------------------
10,705,000 Rockland County Tobacco Asset
Securitization Corp. 5.500 08/15/2025 08/15/2012 A 11,131,059
- ------------------------------------------------------------------------------------------------------------------------
160,000 Rockland Gardens Hsg. Corp. 10.500 05/01/2011 11/01/2007 A 160,584
- ------------------------------------------------------------------------------------------------------------------------
80,000 Rome HDC, Series A 6.250 01/01/2024 07/01/2008 A 82,654
- ------------------------------------------------------------------------------------------------------------------------
50,000 Roslyn Union Free School District 5.300 01/15/2012 01/15/2008 A 50,308
- ------------------------------------------------------------------------------------------------------------------------
200,000 Roslyn Union Free School District 5.375 01/15/2014 01/15/2008 A 201,252
- ------------------------------------------------------------------------------------------------------------------------
225,000 Roxbury Central School District GO 6.400 06/15/2010 12/15/2007 A 227,243
- ------------------------------------------------------------------------------------------------------------------------
235,000 Roxbury Central School District GO 6.400 06/15/2011 12/15/2007 A 237,294
- ------------------------------------------------------------------------------------------------------------------------
32,000,000 Sales Tax Asset Receivables Corp., Series A 5.250 10/15/2027 10/15/2014 A 34,038,400
- ------------------------------------------------------------------------------------------------------------------------
500,000 Saratoga County IDA (Saratoga Hospital/
Saratoga Care/Benedict Community
Health Center) 5.000 12/01/2014 12/01/2014 517,045
- ------------------------------------------------------------------------------------------------------------------------
3,725,000 Saratoga County IDA (Saratoga Hospital/
Saratoga Care/Benedict Community
Health Center) 5.750 12/01/2023 12/01/2007 A 3,729,507
- ------------------------------------------------------------------------------------------------------------------------
6,540,000 Saratoga County IDA (Saratoga Hospital/
Saratoga Care/Benedict Community
Health Center) 5.750 12/01/2033 12/01/2007 A 6,547,913
- ------------------------------------------------------------------------------------------------------------------------
25,000 Scotia GO 6.100 01/15/2012 01/15/2008 A 25,271
- ------------------------------------------------------------------------------------------------------------------------
5,000,000 Seneca Nation Indians Capital Improvements 5.250 12/01/2016 06/14/2015 B 5,155,350
- ------------------------------------------------------------------------------------------------------------------------
870,000 SONYMA, Series 101 5.000 10/01/2018 10/01/2011 A 881,406
- ------------------------------------------------------------------------------------------------------------------------
25,000 SONYMA, Series 101 5.250 04/01/2022 10/01/2011 A 25,355
- ------------------------------------------------------------------------------------------------------------------------
30,000 SONYMA, Series 101 5.350 10/01/2026 10/01/2011 A 30,428
- ------------------------------------------------------------------------------------------------------------------------
22,970,000 SONYMA, Series 106 5.250 04/01/2034 04/01/2012 A 23,213,482
- ------------------------------------------------------------------------------------------------------------------------
2,145,000 SONYMA, Series 143 4.750 10/01/2022 08/08/2020 B 2,109,436
- ------------------------------------------------------------------------------------------------------------------------
35,000 SONYMA, Series 27 5.250 04/01/2013 04/01/2010 A 35,712
- ------------------------------------------------------------------------------------------------------------------------
11,465,000 SONYMA, Series 29 5.400 10/01/2022 1 10/01/2010 A 11,663,918
- ------------------------------------------------------------------------------------------------------------------------
10,150,000 SONYMA, Series 29 5.450 10/01/2031 10/01/2010 A 10,488,198
- ------------------------------------------------------------------------------------------------------------------------
400,000 SONYMA, Series 31 5.200 10/01/2021 04/01/2011 A 404,108
- ------------------------------------------------------------------------------------------------------------------------
485,000 SONYMA, Series 31 5.300 10/01/2031 04/01/2011 A 490,631
- ------------------------------------------------------------------------------------------------------------------------
140,000 SONYMA, Series 63 5.600 10/01/2010 04/01/2009 A 142,722
- ------------------------------------------------------------------------------------------------------------------------
85,000 SONYMA, Series 63 5.700 10/01/2011 04/01/2008 A 86,690
- ------------------------------------------------------------------------------------------------------------------------
75,000 SONYMA, Series 65 5.300 10/01/2009 01/01/2008 A 76,560
- ------------------------------------------------------------------------------------------------------------------------
15,000 SONYMA, Series 65 5.550 10/01/2012 07/01/2008 A 15,288
- ------------------------------------------------------------------------------------------------------------------------
150,000 SONYMA, Series 66 5.600 10/01/2017 01/01/2008 A 153,128
- ------------------------------------------------------------------------------------------------------------------------
100,000 SONYMA, Series 67 5.600 10/01/2014 1 09/01/2009 A 101,638
- ------------------------------------------------------------------------------------------------------------------------
85,000 SONYMA, Series 67 5.600 10/01/2014 09/01/2007 A 86,386
- ------------------------------------------------------------------------------------------------------------------------
1,065,000 SONYMA, Series 67 5.700 10/01/2017 1 09/01/2007 A 1,082,189
- ------------------------------------------------------------------------------------------------------------------------
500,000 SONYMA, Series 67 5.800 10/01/2028 1 09/01/2009 A 503,240
46 | LIMITED TERM NEW YORK MUNICIPAL FUND
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ------------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 35,000 SONYMA, Series 67 5.800% 10/01/2028 09/01/2009 A $ 35,227
- ------------------------------------------------------------------------------------------------------------------------
50,000 SONYMA, Series 69 5.400 10/01/2019 03/01/2008 A 50,689
- ------------------------------------------------------------------------------------------------------------------------
2,365,000 SONYMA, Series 70 5.375 10/01/2017 1 03/01/2008 A 2,410,101
- ------------------------------------------------------------------------------------------------------------------------
120,000 SONYMA, Series 70 5.375 10/01/2017 03/01/2008 A 121,932
- ------------------------------------------------------------------------------------------------------------------------
10,000 SONYMA, Series 71 4.900 04/01/2009 04/01/2009 10,141
- ------------------------------------------------------------------------------------------------------------------------
250,000 SONYMA, Series 71 5.350 10/01/2018 07/01/2008 A 253,815
- ------------------------------------------------------------------------------------------------------------------------
4,840,000 SONYMA, Series 71 5.400 04/01/2029 07/01/2008 A 4,933,557
- ------------------------------------------------------------------------------------------------------------------------
120,000 SONYMA, Series 73 5.300 10/01/2028 09/01/2008 A 121,298
- ------------------------------------------------------------------------------------------------------------------------
150,000 SONYMA, Series 73-A 5.250 10/01/2017 09/01/2008 A 152,315
- ------------------------------------------------------------------------------------------------------------------------
85,000 SONYMA, Series 73-B 5.450 10/01/2024 1 09/30/2011 A 85,530
- ------------------------------------------------------------------------------------------------------------------------
15,000 SONYMA, Series 77 5.600 04/01/2010 11/23/2009 A 15,264
- ------------------------------------------------------------------------------------------------------------------------
400,000 SONYMA, Series 77 5.700 04/01/2011 11/23/2009 A 410,076
- ------------------------------------------------------------------------------------------------------------------------
10,000 SONYMA, Series 79 5.250 10/01/2021 03/01/2009 A 10,101
- ------------------------------------------------------------------------------------------------------------------------
55,000 SONYMA, Series 79 5.250 10/01/2021 03/01/2009 A 55,553
- ------------------------------------------------------------------------------------------------------------------------
295,000 SONYMA, Series 79 5.300 04/01/2029 03/01/2009 A 301,791
- ------------------------------------------------------------------------------------------------------------------------
2,140,000 SONYMA, Series 80 5.100 10/01/2017 1 03/01/2009 A 2,184,020
- ------------------------------------------------------------------------------------------------------------------------
5,350,000 SONYMA, Series 82 5.550 10/01/2019 1 10/01/2009 A 5,428,003
- ------------------------------------------------------------------------------------------------------------------------
25,000,000 SONYMA, Series 83 5.450 04/01/2018 1 10/01/2009 A 25,546,750
- ------------------------------------------------------------------------------------------------------------------------
45,000 SONYMA, Series 83 5.550 10/01/2027 10/01/2009 A 45,765
- ------------------------------------------------------------------------------------------------------------------------
215,000 SONYMA, Series 85 5.400 04/01/2012 09/01/2009 A 220,573
- ------------------------------------------------------------------------------------------------------------------------
540,000 SONYMA, Series 88 5.500 04/01/2025 11/01/2009 A 543,542
- ------------------------------------------------------------------------------------------------------------------------
190,000 SONYMA, Series 89 5.650 04/01/2012 11/01/2009 A 192,928
- ------------------------------------------------------------------------------------------------------------------------
100,000 SONYMA, Series 91 5.300 10/01/2009 01/01/2008 A 102,080
- ------------------------------------------------------------------------------------------------------------------------
500,000 SONYMA, Series 93 5.550 04/01/2010 10/01/2009 A 507,695
- ------------------------------------------------------------------------------------------------------------------------
2,375,000 SONYMA, Series 93 5.600 10/01/2017 10/01/2009 A 2,475,558
- ------------------------------------------------------------------------------------------------------------------------
145,000 SONYMA, Series 93 5.650 10/01/2011 10/01/2009 A 147,303
- ------------------------------------------------------------------------------------------------------------------------
2,015,000 SONYMA, Series 95 5.500 10/01/2017 1 04/01/2010 A 2,072,307
- ------------------------------------------------------------------------------------------------------------------------
6,150,000 SONYMA, Series 97 5.400 10/01/2021 1 04/01/2011 A 6,238,007
- ------------------------------------------------------------------------------------------------------------------------
660,000 SONYMA, Series 98 5.050 10/01/2017 04/01/2011 A 674,890
- ------------------------------------------------------------------------------------------------------------------------
385,000 Spring Valley (Qual. Redevel.) 5.000 06/15/2021 06/15/2017 A 394,406
- ------------------------------------------------------------------------------------------------------------------------
405,000 Spring Valley (Qual. Redevel.) 5.000 06/15/2022 06/15/2017 A 413,922
- ------------------------------------------------------------------------------------------------------------------------
300,000 Spring Valley GO 5.000 05/01/2020 05/15/2015 A 311,607
- ------------------------------------------------------------------------------------------------------------------------
310,000 Spring Valley GO 5.000 05/01/2021 05/15/2015 A 318,271
- ------------------------------------------------------------------------------------------------------------------------
325,000 Spring Valley GO 5.000 05/01/2022 05/15/2015 A 333,024
- ------------------------------------------------------------------------------------------------------------------------
335,000 Spring Valley GO 5.000 05/01/2023 05/15/2015 A 342,829
- ------------------------------------------------------------------------------------------------------------------------
350,000 Spring Valley GO 5.000 05/01/2024 05/15/2015 A 357,718
- ------------------------------------------------------------------------------------------------------------------------
365,000 Spring Valley GO 5.000 05/01/2025 05/15/2015 A 372,566
- ------------------------------------------------------------------------------------------------------------------------
50,000 Springville HDC (Springbrook) 5.950 01/01/2010 09/21/2008 D 50,421
- ------------------------------------------------------------------------------------------------------------------------
730,000 Suffolk County IDA (ALIA-CCDRCA) 7.000 06/01/2016 06/01/2011 A 777,888
- ------------------------------------------------------------------------------------------------------------------------
885,000 Suffolk County IDA (ALIA-FREE) 7.000 06/01/2016 06/01/2011 A 943,056
- ------------------------------------------------------------------------------------------------------------------------
775,000 Suffolk County IDA (ALIA-IGHL) 6.500 12/01/2013 04/07/2011 B 809,658
47 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ---------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 415,000 Suffolk County IDA (ALIA-WORCA) 7.000% 06/01/2016 06/01/2011 A $ 442,224
- ----------------------------------------------------------------------------------------------------------------------
350,000 Suffolk County IDA (Catholic Charities) 6.000 10/01/2020 12/27/2014 D 355,019
- ----------------------------------------------------------------------------------------------------------------------
330,000 Suffolk County IDA (DDI) 6.000 10/01/2020 12/27/2014 D 334,732
- ----------------------------------------------------------------------------------------------------------------------
330,000 Suffolk County IDA (DDI) 6.000 10/01/2020 12/27/2014 D 334,732
- ----------------------------------------------------------------------------------------------------------------------
765,000 Suffolk County IDA (Dowling College) 5.000 06/01/2018 06/01/2016 A 788,287
- ----------------------------------------------------------------------------------------------------------------------
180,000 Suffolk County IDA (Family Residences) 6.000 10/01/2015 04/12/2012 B 181,998
- ----------------------------------------------------------------------------------------------------------------------
490,000 Suffolk County IDA (Family Residences),
Series A 6.375 12/01/2018 10/20/2013 B 521,997
- ----------------------------------------------------------------------------------------------------------------------
3,260,000 Suffolk County IDA (Family Residences),
Series A 6.375 12/01/2018 08/03/2014 B 3,472,878
- ----------------------------------------------------------------------------------------------------------------------
595,000 Suffolk County IDA (Huntington First
Aid Squad) 6.025 11/01/2008 11/15/2007 B 603,961
- ----------------------------------------------------------------------------------------------------------------------
760,000 Suffolk County IDA (Independent Group
Home Living) 6.000 10/01/2020 12/27/2014 B 770,898
- ----------------------------------------------------------------------------------------------------------------------
610,000 Suffolk County IDA (L.I. Network
Community Services) 7.000 02/01/2014 02/01/2010 B 628,093
- ----------------------------------------------------------------------------------------------------------------------
290,000 Suffolk County IDA (Mattituck-Laurel Library) 6.000 09/01/2019 1 09/01/2010 A 310,329
- ----------------------------------------------------------------------------------------------------------------------
435,000 Suffolk County IDA (Nassau-Suffolk Services
for Autism) 6.250 11/01/2016 10/14/2012 B 439,454
- ----------------------------------------------------------------------------------------------------------------------
155,000 Suffolk County IDA (Nassau-Suffolk Services
for Autism) 6.250 11/01/2016 11/01/2007 A 155,071
- ----------------------------------------------------------------------------------------------------------------------
880,000 Suffolk County IDA (Nissequogue
Cogeneration Partners) 4.875 01/01/2008 01/01/2008 878,442
- ----------------------------------------------------------------------------------------------------------------------
985,000 Suffolk County IDA (Pederson-Krager Center) 6.375 11/01/2015 03/07/2012 B 1,000,189
- ----------------------------------------------------------------------------------------------------------------------
780,000 Suffolk County IDA (Pederson-Krager Center) 6.400 02/01/2015 06/23/2011 B 792,347
- ----------------------------------------------------------------------------------------------------------------------
265,000 Suffolk County IDA (Suffolk Hotels) 6.000 10/01/2020 07/27/2014 D 268,800
- ----------------------------------------------------------------------------------------------------------------------
500,000 Suffolk County IDA (WORCA) 6.000 10/01/2020 12/27/2014 B 507,170
- ----------------------------------------------------------------------------------------------------------------------
100,000 Suffolk County Water Authority 5.750 06/01/2010 12/01/2007 E 104,175
- ----------------------------------------------------------------------------------------------------------------------
2,515,000 Sullivan County IDA (Center for Discovery) 5.625 06/01/2013 06/01/2013 2,537,484
- ----------------------------------------------------------------------------------------------------------------------
5,000,000 Sullivan County IDA (Center for Discovery) 5.875 07/01/2022 07/01/2017 A 5,016,150
- ----------------------------------------------------------------------------------------------------------------------
6,435,000 Sullivan County IDA (Center for Discovery) 6.375 02/01/2020 07/28/2014 D 6,512,156
- ----------------------------------------------------------------------------------------------------------------------
30,000 Syracuse Hsg. Authority 5.400 09/01/2021 09/01/2015 A 31,741
- ----------------------------------------------------------------------------------------------------------------------
240,000 Syracuse IDA (Crouse Irving Companies) 5.250 01/01/2017 01/01/2010 A 243,907
- ----------------------------------------------------------------------------------------------------------------------
910,000 Syracuse IDA (Crouse Irving Health Hospital) 5.125 01/01/2009 07/06/2008 B 900,363
- ----------------------------------------------------------------------------------------------------------------------
690,000 Syracuse IDA (One Center Armory Garage) 6.750 12/01/2017 12/01/2007 A 696,500
- ----------------------------------------------------------------------------------------------------------------------
540,000 Syracuse SCHC (East Hill Village Apartments) 6.125 11/01/2010 03/12/2009 B 535,302
- ----------------------------------------------------------------------------------------------------------------------
575,000 Tobacco Settlement Financing Corp. (TASC) 5.000 06/01/2011 12/01/2007 A 575,759
- ----------------------------------------------------------------------------------------------------------------------
135,000 Tobacco Settlement Financing Corp. (TASC) 5.250 06/01/2012 12/01/2007 A 135,204
- ----------------------------------------------------------------------------------------------------------------------
11,905,000 Tobacco Settlement Financing Corp. (TASC) 5.250 06/01/2013 06/01/2008 A 12,037,503
- ----------------------------------------------------------------------------------------------------------------------
4,420,000 Tobacco Settlement Financing Corp. (TASC) 5.250 06/01/2013 06/01/2008 A 4,471,581
- ---------------------------------------------------------------------------------------------------------------------
2,220,000 Tobacco Settlement Financing Corp. (TASC) 5.250 06/01/2021 06/01/2013 A 2,338,060
- ----------------------------------------------------------------------------------------------------------------------
19,550,000 Tobacco Settlement Financing Corp. (TASC) 5.500 06/01/2014 06/01/2009 A 20,077,655
- ----------------------------------------------------------------------------------------------------------------------
8,250,000 Tobacco Settlement Financing Corp. (TASC) 5.500 06/01/2015 06/01/2010 A 8,595,923
48 | LIMITED TERM NEW YORK MUNICIPAL FUND
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ----------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 11,900,000 Tobacco Settlement Financing Corp. (TASC) 5.500% 06/01/2016 06/01/2008 A $ 12,365,647
- ----------------------------------------------------------------------------------------------------------------------
5,020,000 Tobacco Settlement Financing Corp. (TASC) 5.500 06/01/2017 06/01/2011 A 5,271,151
- ----------------------------------------------------------------------------------------------------------------------
21,000,000 Tobacco Settlement Financing Corp. (TASC) 5.500 06/01/2018 06/01/2012 A 22,254,540
- ----------------------------------------------------------------------------------------------------------------------
20,500,000 Tobacco Settlement Financing Corp. (TASC) 5.500 06/01/2019 06/01/2013 A 21,922,495
- ----------------------------------------------------------------------------------------------------------------------
11,000,000 Tobacco Settlement Financing Corp. (TASC) 5.500 06/01/2020 06/01/2013 A 11,763,290
- ----------------------------------------------------------------------------------------------------------------------
18,395,000 Tobacco Settlement Financing Corp. (TASC) 5.500 06/01/2021 06/01/2013 A 19,641,629
- ----------------------------------------------------------------------------------------------------------------------
14,965,000 Tobacco Settlement Financing Corp. (TASC) 5.500 06/01/2022 06/01/2013 A 15,930,841
- ----------------------------------------------------------------------------------------------------------------------
900,000 Tompkins County IDA (Kendall at Ithaca) 5.750 07/01/2018 07/01/2008 A 909,837
- ----------------------------------------------------------------------------------------------------------------------
2,000,000 Tompkins County IDA (Kendall at Ithaca) 6.000 07/01/2024 07/01/2008 A 2,027,880
- ----------------------------------------------------------------------------------------------------------------------
130,000 Tompkins Health Care Corp.
(Reconstruction Home) 5.875 02/01/2033 02/01/2008 A 130,187
- ----------------------------------------------------------------------------------------------------------------------
270,000 Tompkins Health Care Corp.
(Reconstruction Home) 10.800 02/01/2028 1 08/01/2007 A 292,866
- ----------------------------------------------------------------------------------------------------------------------
40,000 Triborough Bridge & Tunnel Authority 5.000 01/01/2024 01/01/2008 A 40,038
- ----------------------------------------------------------------------------------------------------------------------
1,335,000 Triborough Bridge & Tunnel Authority,
Series A 5.000 01/01/2024 01/01/2008 E 1,336,255
- ----------------------------------------------------------------------------------------------------------------------
845,000 Triborough Bridge & Tunnel Authority,
Series A 5.200 01/01/2020 01/01/2008 A 847,603
- ----------------------------------------------------------------------------------------------------------------------
69,680,000 TSASC, Inc. (TFABs) 5 4.750 06/01/2022 04/09/2011 C 69,566,770
- ----------------------------------------------------------------------------------------------------------------------
50,000,000 TSASC, Inc. (TFABs) 5 5.000 06/01/2026 05/28/2016 C 50,503,500
- ----------------------------------------------------------------------------------------------------------------------
275,000 TSASC, Inc. (TFABs) 4.250 07/15/2010 07/15/2010 277,852
- ----------------------------------------------------------------------------------------------------------------------
137,270,000 TSASC, Inc. (TFABs) 4.750 06/01/2022 04/09/2011 B 137,046,250
- ----------------------------------------------------------------------------------------------------------------------
17,500,000 TSASC, Inc. (TFABs) 5.000 06/01/2026 05/28/2016 D 17,676,225
- ----------------------------------------------------------------------------------------------------------------------
24,240,000 TSASC, Inc. (TFABs) 5.000 06/01/2034 06/01/2016 A 24,396,833
- ----------------------------------------------------------------------------------------------------------------------
430,000 TSASC, Inc. (TFABs) 5.250 07/15/2011 07/15/2011 451,401
- ----------------------------------------------------------------------------------------------------------------------
815,000 TSASC, Inc. (TFABs) 5.500 07/15/2013 07/15/2012 A 870,901
- ----------------------------------------------------------------------------------------------------------------------
23,930,000 TSASC, Inc. (TFABs) 5.500 07/15/2024 01/25/2012 D 25,302,625
- ----------------------------------------------------------------------------------------------------------------------
250,000 TSASC, Inc. (TFABs) 5.875 07/15/2015 07/15/2009 A 262,295
- ----------------------------------------------------------------------------------------------------------------------
275,000 TSASC, Inc. (TFABs) 5.900 07/15/2017 07/15/2009 A 288,659
- ----------------------------------------------------------------------------------------------------------------------
65,080,000 TSASC, Inc. (TFABs) 6.375 07/15/2039 1 07/15/2009 A 68,914,514
- ----------------------------------------------------------------------------------------------------------------------
10,000 Ulster County GO 5.400 11/15/2013 11/15/2007 A 10,061
- ----------------------------------------------------------------------------------------------------------------------
10,000 Ulster County GO 5.400 11/15/2015 11/15/2007 A 10,061
- ----------------------------------------------------------------------------------------------------------------------
100,000 Ulster County IDA (Benedictine Hospital) 6.250 06/01/2008 12/07/2007 B 101,745
- ----------------------------------------------------------------------------------------------------------------------
155,000 Ulster County Res Rec 5.000 03/01/2016 03/01/2016 159,528
- ----------------------------------------------------------------------------------------------------------------------
160,000 Ulster County Res Rec 5.000 03/01/2017 03/01/2016 A 164,213
- ----------------------------------------------------------------------------------------------------------------------
170,000 Ulster County Res Rec 5.000 03/01/2018 03/01/2016 A 174,014
- ----------------------------------------------------------------------------------------------------------------------
830,000 Ulster County Tobacco Asset
Securitization Corp. 0.000 4 06/01/2040 06/01/2017 A 760,977
- ----------------------------------------------------------------------------------------------------------------------
360,000 Ulster County Tobacco Asset
Securitization Corp. 6.000 06/01/2040 06/01/2012 A 381,812
- ----------------------------------------------------------------------------------------------------------------------
10,000 Ulster County Tobacco Asset
Securitization Corp. 6.250 06/01/2025 06/01/2012 A 10,726
- ----------------------------------------------------------------------------------------------------------------------
10,795,000 Ulster County Tobacco Asset
Securitization Corp. 6.750 06/01/2030 1 06/01/2011 A 11,753,272
49 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ----------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 45,000 United Nations Devel. Corp., Series A 5.250% 07/01/2012 01/01/2008 A $ 45,299
- ----------------------------------------------------------------------------------------------------------------------
1,575,000 United Nations Devel. Corp., Series A 5.250 07/01/2013 01/01/2008 A 1,585,458
- ----------------------------------------------------------------------------------------------------------------------
1,500,000 United Nations Devel. Corp., Series A 5.250 07/01/2014 01/01/2008 A 1,509,960
- ----------------------------------------------------------------------------------------------------------------------
1,565,000 United Nations Devel. Corp., Series A 5.250 07/01/2015 01/01/2008 A 1,575,392
- ----------------------------------------------------------------------------------------------------------------------
5,755,000 United Nations Devel. Corp., Series A 5.250 07/01/2018 01/01/2008 A 5,783,775
- ----------------------------------------------------------------------------------------------------------------------
6,530,000 United Nations Devel. Corp., Series A 5.250 07/01/2019 01/01/2008 A 6,562,650
- ----------------------------------------------------------------------------------------------------------------------
6,900,000 United Nations Devel. Corp., Series A 5.250 07/01/2020 01/01/2008 A 6,934,500
- ----------------------------------------------------------------------------------------------------------------------
2,970,000 United Nations Devel. Corp., Series A 5.250 07/01/2021 01/01/2008 A 2,984,850
- ----------------------------------------------------------------------------------------------------------------------
3,050,000 United Nations Devel. Corp., Series A 5.250 07/01/2022 01/01/2008 A 3,065,250
- ----------------------------------------------------------------------------------------------------------------------
2,185,000 United Nations Devel. Corp., Series A 5.250 07/01/2023 01/01/2008 A 2,195,925
- ----------------------------------------------------------------------------------------------------------------------
3,020,000 United Nations Devel. Corp., Series A 5.250 07/01/2024 01/01/2008 A 3,035,100
- ----------------------------------------------------------------------------------------------------------------------
225,000 United Nations Devel. Corp., Series A 5.250 07/01/2026 07/01/2008 A 226,103
- ----------------------------------------------------------------------------------------------------------------------
295,000 Utica GO 6.200 01/15/2014 01/15/2010 A 314,187
- ----------------------------------------------------------------------------------------------------------------------
320,000 Utica GO 6.250 01/15/2015 01/15/2010 A 341,197
- ----------------------------------------------------------------------------------------------------------------------
75,000 Utica IDA (Utica College Civic Facility) 5.300 08/01/2008 02/05/2008 B 75,142
- ----------------------------------------------------------------------------------------------------------------------
1,465,000 Utica IDA (Utica College Civic Facility) 6.375 12/01/2011 01/13/2010 B 1,493,362
- ----------------------------------------------------------------------------------------------------------------------
250,000 Utica SCHC (Multifamily), Series A 5.550 12/01/2017 12/01/2007 A 258,533
- ----------------------------------------------------------------------------------------------------------------------
180,000 Valley Health Devel. Corp. 6.750 05/20/2022 05/20/2010 A 199,634
- ----------------------------------------------------------------------------------------------------------------------
15,000 Victor GO 4.800 12/15/2017 12/15/2007 A 15,072
- ----------------------------------------------------------------------------------------------------------------------
50,000 Westchester County GO 5.375 12/15/2013 12/15/2007 A 50,296
- ----------------------------------------------------------------------------------------------------------------------
45,000 Westchester County Healthcare Corp.,
Series B 5.375 11/01/2020 11/10/2010 A 46,906
- ----------------------------------------------------------------------------------------------------------------------
150,000 Westchester County IDA
(Beth Abraham Hospital) 7.250 12/01/2009 12/02/2008 B 152,727
- ----------------------------------------------------------------------------------------------------------------------
50,000 Westchester County IDA (Children's Village) 5.100 03/15/2009 03/15/2009 51,024
- ----------------------------------------------------------------------------------------------------------------------
260,000 Westchester County IDA (Clearview School) 6.600 01/01/2014 11/27/2010 B 270,995
- ----------------------------------------------------------------------------------------------------------------------
1,605,000 Westchester County IDA (Guiding Eyes
for the Blind) 4.500 08/01/2012 03/16/2010 B 1,575,051
- ----------------------------------------------------------------------------------------------------------------------
30,000 Westchester County IDA (JDAM) 6.500 04/01/2009 1 04/01/2008 A 30,063
- ----------------------------------------------------------------------------------------------------------------------
1,130,000 Westchester County IDA (JDAM) 6.750 04/01/2016 1 07/01/2008 A 1,143,944
- ----------------------------------------------------------------------------------------------------------------------
2,155,000 Westchester County IDA
(Rippowam-Cisqua School) 5.750 06/01/2029 06/01/2011 A 2,216,073
- ----------------------------------------------------------------------------------------------------------------------
2,705,000 Westchester County IDA
(Schnurmacher Center) 6.000 11/01/2011 01/03/2009 B 2,784,040
- ----------------------------------------------------------------------------------------------------------------------
130,000 Westchester County IDA
(Westchester Airport Assoc.) 5.850 08/01/2014 02/01/2008 A 131,702
- ----------------------------------------------------------------------------------------------------------------------
565,000 Westchester County IDA
(Westchester Airport Assoc.) 5.950 08/01/2024 1 02/01/2008 A 567,068
- ----------------------------------------------------------------------------------------------------------------------
250,000 Westchester County IDA
(Westchester Resco Company) 5.500 07/01/2009 01/01/2008 A 252,590
- ----------------------------------------------------------------------------------------------------------------------
30,000 Westchester County IDA
(Winward School) 5.200 10/01/2021 10/01/2011 A 30,900
50 | LIMITED TERM NEW YORK MUNICIPAL FUND
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- -----------------------------------------------------------------------------------------------------------------------
NEW YORK Continued
$ 18,000,000 Westchester County Tobacco Asset
Securitization Corp. 0.000% 4 07/15/2039 1 07/15/2017 E $ 19,695,780
- -----------------------------------------------------------------------------------------------------------------------
12,700,000 Westchester County Tobacco Asset
Securitization Corp. 4.500 06/01/2021 02/03/2010 B 12,526,391
- -----------------------------------------------------------------------------------------------------------------------
8,550,000 Westchester County Tobacco Asset
Securitization Corp. 5.000 06/01/2026 07/07/2014 D 8,628,746
- -----------------------------------------------------------------------------------------------------------------------
255,000 Yonkers IDA (Hudson Scenic Studio) 5.875 11/01/2007 11/01/2007 255,367
- -----------------------------------------------------------------------------------------------------------------------
200,000 Yonkers IDA (Michael Malotz Skilled
Nursing Pavilion) 5.450 02/01/2029 02/01/2009 A 205,192
- -----------------------------------------------------------------------------------------------------------------------
90,000 Yonkers IDA (Michael Malotz Skilled
Nursing Pavilion) 5.650 02/01/2039 02/01/2009 A 92,602
- -----------------------------------------------------------------------------------------------------------------------
1,455,000 Yonkers IDA (Monastery Manor Associates) 5.000 04/01/2025 04/01/2015 A 1,484,886
- -----------------------------------------------------------------------------------------------------------------------
55,000 Yonkers IDA (Philipsburgh Hall Associates) 6.750 11/01/2008 05/18/2008 B 53,897
- -----------------------------------------------------------------------------------------------------------------------
2,145,000 Yonkers IDA (St. John's Riverside Hospital) 6.800 07/01/2016 07/01/2011 A 2,278,741
- -----------------------------------------------------------------------------------------------------------------------
200,000 Yonkers IDA (St. Joseph's Hospital), Series
98-B 5.900 03/01/2008 08/31/2007 B 200,074
----------------
3,463,120,153
- -----------------------------------------------------------------------------------------------------------------------
OTHER STATES--0.4%
13,320,000 NJ Tobacco Settlement Financing Corp.
(TASC) 5.750 06/01/2032 04/29/2011 D 14,177,275
- -----------------------------------------------------------------------------------------------------------------------
U.S. POSSESSIONS--17.9%
5,000,000 Guam Airport Authority, Series C 5.375 10/01/2019 10/01/2013 A 5,235,850
- -----------------------------------------------------------------------------------------------------------------------
6,000,000 Guam Airport Authority, Series C 2 5.375 10/01/2020 10/01/2013 A 6,276,060
- -----------------------------------------------------------------------------------------------------------------------
192,000 Guam EDA (TASC) 0.000 4 05/15/2014 05/15/2014 191,914
- -----------------------------------------------------------------------------------------------------------------------
320,000 Guam EDA (TASC) 5.000 05/15/2022 10/12/2007 D 323,238
- -----------------------------------------------------------------------------------------------------------------------
1,950,000 Guam EDA (TASC) 5.400 05/15/2031 08/06/2010 D 2,002,631
- -----------------------------------------------------------------------------------------------------------------------
215,000 Guam EDA (TASC) 5.500 05/15/2041 05/15/2011 A 221,719
- -----------------------------------------------------------------------------------------------------------------------
3,000,000 Guam Education Financing Foundation COP 5.000 10/01/2023 10/01/2016 A 3,089,400
- -----------------------------------------------------------------------------------------------------------------------
10,000 Guam International Airport Authority 5.000 10/01/2023 10/01/2013 A 10,187
- -----------------------------------------------------------------------------------------------------------------------
25,000 Guam Power Authority, Series A 5.000 10/01/2024 10/01/2009 A 25,647
- -----------------------------------------------------------------------------------------------------------------------
520,000 Guam Power Authority, Series A 5.250 10/01/2013 10/01/2007 A 520,177
- -----------------------------------------------------------------------------------------------------------------------
45,000 Guam Power Authority, Series A 5.250 10/01/2013 10/01/2007 A 45,050
- -----------------------------------------------------------------------------------------------------------------------
655,000 Guam Power Authority, Series A 2 5.250 10/01/2023 10/01/2007 A 657,142
- -----------------------------------------------------------------------------------------------------------------------
40,000 Guam Power Authority, Series A 5.250 10/01/2034 10/01/2009 A 41,293
- -----------------------------------------------------------------------------------------------------------------------
125,000 Northern Mariana Islands Ports Authority,
Series A 6.000 06/01/2014 1 06/01/2010 A 132,410
- -----------------------------------------------------------------------------------------------------------------------
2,000,000 Northern Mariana Islands Ports Authority,
Series A 6.750 10/01/2033 10/01/2013 A 2,246,860
- -----------------------------------------------------------------------------------------------------------------------
60,000 Puerto Rico Aqueduct & Sewer Authority 5.000 07/01/2015 01/01/2008 A 60,506
- -----------------------------------------------------------------------------------------------------------------------
220,000 Puerto Rico Aqueduct & Sewer Authority 5.000 07/01/2015 01/01/2008 A 221,360
- -----------------------------------------------------------------------------------------------------------------------
1,040,000 Puerto Rico Aqueduct & Sewer Authority 5.000 07/01/2019 07/01/2008 A 1,055,756
- -----------------------------------------------------------------------------------------------------------------------
120,000 Puerto Rico Aqueduct & Sewer Authority 5.000 07/01/2019 01/01/2008 A 121,004
- -----------------------------------------------------------------------------------------------------------------------
90,000 Puerto Rico Aqueduct & Sewer Authority 5.000 07/01/2019 01/01/2008 A 90,753
51 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ----------------------------------------------------------------------------------------------------------------------
U.S. POSSESSIONS Continued
$ 375,000 Puerto Rico Children's Trust Fund (TASC) 4.100% 05/15/2013 05/15/2013 $ 367,976
- ----------------------------------------------------------------------------------------------------------------------
200,000 Puerto Rico Children's Trust Fund (TASC) 4.250 05/15/2014 05/15/2014 197,236
- ----------------------------------------------------------------------------------------------------------------------
2,500,000 Puerto Rico Children's Trust Fund (TASC) 5.000 05/15/2008 05/15/2008 2,516,200
- ----------------------------------------------------------------------------------------------------------------------
207,525,000 Puerto Rico Children's Trust Fund (TASC) 5.375 05/15/2033 05/15/2012 A 215,525,089
- ----------------------------------------------------------------------------------------------------------------------
52,245,000 Puerto Rico Children's Trust Fund (TASC) 5.500 05/15/2039 05/15/2012 A 54,519,225
- ----------------------------------------------------------------------------------------------------------------------
49,565,000 Puerto Rico Children's Trust Fund (TASC) 5.625 05/15/2043 05/15/2012 A 51,902,485
- ----------------------------------------------------------------------------------------------------------------------
15,000 Puerto Rico Children's Trust Fund (TASC) 5.750 07/01/2020 04/15/2009 D 15,411
- ----------------------------------------------------------------------------------------------------------------------
1,250,000 Puerto Rico Commonwealth GO 4.875 07/01/2023 07/01/2008 A 1,271,013
- ----------------------------------------------------------------------------------------------------------------------
3,900,000 Puerto Rico Commonwealth GO 5.000 07/01/2018 07/01/2008 A 3,980,574
- ----------------------------------------------------------------------------------------------------------------------
6,250,000 Puerto Rico Commonwealth GO 5.000 07/01/2024 07/01/2014 A 6,366,375
- ----------------------------------------------------------------------------------------------------------------------
5,970,000 Puerto Rico Commonwealth GO 5.000 07/01/2025 07/01/2023 A 6,077,639
- ----------------------------------------------------------------------------------------------------------------------
50,000 Puerto Rico Commonwealth GO 5.000 07/01/2026 07/01/2022 A 50,409
- ----------------------------------------------------------------------------------------------------------------------
85,000 Puerto Rico Commonwealth GO 5.000 07/01/2028 07/01/2013 A 85,695
- ----------------------------------------------------------------------------------------------------------------------
7,000,000 Puerto Rico Commonwealth GO 5.250 01/01/2015 01/01/2015 7,347,130
- ----------------------------------------------------------------------------------------------------------------------
4,000,000 Puerto Rico Commonwealth GO 5.250 07/01/2017 07/01/2013 A 4,165,960
- ----------------------------------------------------------------------------------------------------------------------
5,840,000 Puerto Rico Commonwealth GO 5.250 07/01/2019 07/01/2013 A 6,093,222
- ----------------------------------------------------------------------------------------------------------------------
2,430,000 Puerto Rico Commonwealth GO 5.250 07/01/2021 07/01/2014 A 2,546,640
- ----------------------------------------------------------------------------------------------------------------------
3,400,000 Puerto Rico Commonwealth GO 5.250 07/01/2022 07/01/2014 A 3,559,052
- ----------------------------------------------------------------------------------------------------------------------
2,100,000 Puerto Rico Commonwealth GO 5.250 07/01/2022 07/01/2016 A 2,202,081
- ----------------------------------------------------------------------------------------------------------------------
4,575,000 Puerto Rico Commonwealth GO 5.250 07/01/2023 07/01/2014 A 4,786,228
- ----------------------------------------------------------------------------------------------------------------------
15,850,000 Puerto Rico Commonwealth GO 5.250 07/01/2024 07/01/2013 A 16,473,698
- ----------------------------------------------------------------------------------------------------------------------
7,395,000 Puerto Rico Commonwealth GO 5.250 07/01/2026 07/01/2016 A 7,743,378
- ----------------------------------------------------------------------------------------------------------------------
1,925,000 Puerto Rico Commonwealth GO 5.250 07/01/2027 1 07/01/2011 A 2,000,961
- ----------------------------------------------------------------------------------------------------------------------
8,320,000 Puerto Rico Commonwealth GO 5.250 07/01/2027 07/01/2016 A 8,705,715
- ----------------------------------------------------------------------------------------------------------------------
6,060,000 Puerto Rico Commonwealth GO 5.375 07/01/2028 07/01/2011 A 6,277,069
- ----------------------------------------------------------------------------------------------------------------------
195,000 Puerto Rico Electric Power Authority 5.000 07/01/2028 07/01/2008 A 199,664
- ----------------------------------------------------------------------------------------------------------------------
70,000 Puerto Rico Electric Power Authority,
Series DD 5.000 07/01/2028 07/01/2010 A 71,898
- ----------------------------------------------------------------------------------------------------------------------
5,000 Puerto Rico Electric Power Authority,
Series DD 5.000 07/01/2028 07/01/2010 A 5,136
- ----------------------------------------------------------------------------------------------------------------------
15,000 Puerto Rico Electric Power Authority,
Series DD 5.000 07/01/2028 07/01/2008 A 15,359
- ----------------------------------------------------------------------------------------------------------------------
10,000 Puerto Rico Electric Power Authority,
Series EE 5.250 07/01/2014 07/01/2008 A 10,291
- ----------------------------------------------------------------------------------------------------------------------
4,200,000 Puerto Rico Electric Power Authority,
Series UU 4.288 8 07/01/2031 07/04/2028 B 4,179,000
- ----------------------------------------------------------------------------------------------------------------------
250,000 Puerto Rico HFA (Single Family) 5.000 12/01/2020 12/01/2013 A 258,940
- ----------------------------------------------------------------------------------------------------------------------
115,000 Puerto Rico HFC 5.100 12/01/2018 12/01/2010 A 115,641
- ----------------------------------------------------------------------------------------------------------------------
1,300,000 Puerto Rico HFC (Homeowner Mtg.) 5.200 12/01/2032 12/01/2008 A 1,313,936
- ----------------------------------------------------------------------------------------------------------------------
90,000 Puerto Rico Highway & Transportation
Authority 5.000 07/01/2022 07/01/2008 A 90,962
- ----------------------------------------------------------------------------------------------------------------------
35,000 Puerto Rico Highway & Transportation
Authority 5.000 07/01/2028 07/01/2025 A 35,315
- ----------------------------------------------------------------------------------------------------------------------
230,000 Puerto Rico Highway & Transportation
Authority 5.750 07/01/2020 07/01/2013 A 248,179
- ----------------------------------------------------------------------------------------------------------------------
25,000 Puerto Rico Highway & Transportation
Authority, Series A 5.000 07/01/2028 07/01/2008 A 25,565
52 | LIMITED TERM NEW YORK MUNICIPAL FUND
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ----------------------------------------------------------------------------------------------------------------------
U.S. POSSESSIONS Continued
$ 5,000 Puerto Rico Highway & Transportation
Authority, Series A 5.000% 07/01/2028 07/01/2008 A $ 5,088
- ----------------------------------------------------------------------------------------------------------------------
7,000,000 Puerto Rico Highway & Transportation
Authority, Series E 5.750 07/01/2024 07/01/2012 A 7,449,470
- ----------------------------------------------------------------------------------------------------------------------
355,000 Puerto Rico Highway & Transportation
Authority, Series K 5.000 07/01/2021 07/01/2015 A 364,539
- ----------------------------------------------------------------------------------------------------------------------
11,000,000 Puerto Rico Highway & Transportation
Authority, Series K 5.000 07/01/2022 07/01/2015 A 11,280,720
- ----------------------------------------------------------------------------------------------------------------------
12,275,000 Puerto Rico Highway & Transportation
Authority, Series K 5.000 07/01/2023 07/01/2015 A 12,571,810
- ----------------------------------------------------------------------------------------------------------------------
1,760,000 Puerto Rico Highway & Transportation
Authority, Series K 5.000 07/01/2024 07/01/2015 A 1,800,198
- ----------------------------------------------------------------------------------------------------------------------
4,545,000 Puerto Rico Highway & Transportation
Authority, Series K 5.000 07/01/2025 07/01/2015 A 4,645,717
- ----------------------------------------------------------------------------------------------------------------------
2,000,000 Puerto Rico Highway & Transportation
Authority, Series K 5.000 07/01/2026 07/01/2015 A 2,042,980
- ----------------------------------------------------------------------------------------------------------------------
1,000,000 Puerto Rico Highway & Transportation
Authority, Series K 5.000 07/01/2027 07/01/2015 A 1,021,490
- ----------------------------------------------------------------------------------------------------------------------
11,190,000 Puerto Rico Highway & Transportation
Authority, Series K 5.000 07/01/2030 07/01/2015 A 11,408,093
- ----------------------------------------------------------------------------------------------------------------------
16,800,000 Puerto Rico Highway & Transportation
Authority, Series N 5 4.107 8 07/01/2045 08/07/2043 C 16,774,800
- ----------------------------------------------------------------------------------------------------------------------
6,550,000 Puerto Rico IMEPCF (PepsiCo) 6.250 11/15/2013 11/15/2007 A 6,808,660
- ----------------------------------------------------------------------------------------------------------------------
7,175,000 Puerto Rico IMEPCF (PepsiCo) 2 6.250 11/15/2013 11/15/2007 A 7,420,600
- ----------------------------------------------------------------------------------------------------------------------
780,000 Puerto Rico Infrastructure 5.000 07/01/2019 07/01/2016 A 807,448
- ----------------------------------------------------------------------------------------------------------------------
35,000 Puerto Rico Infrastructure 5.500 10/01/2040 10/01/2010 E 36,855
- ----------------------------------------------------------------------------------------------------------------------
55,000 Puerto Rico ITEMECF
(Ana G. Mendez University) 5.375 02/01/2019 02/01/2011 A 56,121
- ----------------------------------------------------------------------------------------------------------------------
18,425,000 Puerto Rico ITEMECF
(Cogeneration Facilities) 6.625 06/01/2026 1 06/01/2010 A 19,795,636
- ----------------------------------------------------------------------------------------------------------------------
1,500,000 Puerto Rico ITEMECF (Dr. Pila Hospital) 6.125 08/01/2025 02/01/2008 A 1,502,655
- ----------------------------------------------------------------------------------------------------------------------
70,000 Puerto Rico ITEMECF
(Hospital Auxilio Mutuo) 5.500 07/01/2026 01/01/2008 A 71,131
- ----------------------------------------------------------------------------------------------------------------------
500,000 Puerto Rico ITEMECF
(Hospital Auxilio Mutuo) 6.250 07/01/2016 01/01/2008 A 501,000
- ----------------------------------------------------------------------------------------------------------------------
75,000 Puerto Rico ITEMECF
(Hospital de la Concepcion) 6.125 11/15/2025 11/15/2010 A 80,089
- ----------------------------------------------------------------------------------------------------------------------
750,000 Puerto Rico ITEMECF
(Hospital de la Concepcion) 6.375 11/15/2015 11/15/2010 A 805,410
- ----------------------------------------------------------------------------------------------------------------------
2,000,000 Puerto Rico ITEMECF
(Hospital de la Concepcion) 6.500 11/15/2020 11/15/2010 A 2,161,700
- ----------------------------------------------------------------------------------------------------------------------
25,000 Puerto Rico ITEMECF
(InterAmerican University) 5.000 10/01/2022 10/01/2008 A 25,519
- ----------------------------------------------------------------------------------------------------------------------
1,545,000 Puerto Rico ITEMECF
(Mennonite General Hospital) 6.500 07/01/2012 07/01/2008 A 1,551,674
53 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- ----------------------------------------------------------------------------------------------------------------------
U.S. POSSESSIONS Continued
$ 460,000 Puerto Rico ITEMECF
(Ryder Memorial Hospital) 6.400% 05/01/2009 11/01/2007 A $ 460,156
- ----------------------------------------------------------------------------------------------------------------------
2,500,000 Puerto Rico Municipal Finance Agency,
Series A 5.250 08/01/2023 08/01/2015 A 2,609,475
- ----------------------------------------------------------------------------------------------------------------------
5,000,000 Puerto Rico Municipal Finance Agency,
Series A 5.250 08/01/2024 08/01/2015 A 5,212,100
- ----------------------------------------------------------------------------------------------------------------------
25,000 Puerto Rico Municipal Finance Agency,
Series A 5.500 07/01/2017 01/01/2008 A 25,409
- ----------------------------------------------------------------------------------------------------------------------
40,000 Puerto Rico Port Authority, Series C 7.300 07/01/2007 1 07/01/2007 40,005
- ----------------------------------------------------------------------------------------------------------------------
160,000 Puerto Rico Port Authority, Series D 6.000 07/01/2021 1 01/01/2008 A 160,424
- ----------------------------------------------------------------------------------------------------------------------
430,000 Puerto Rico Port Authority, Series D 7.000 07/01/2014 1 01/01/2008 A 431,845
- ----------------------------------------------------------------------------------------------------------------------
31,000,000 Puerto Rico Public Buildings Authority 5.250 07/01/2029 07/01/2014 A 32,355,320
- ----------------------------------------------------------------------------------------------------------------------
2,750,000 Puerto Rico Public Buildings Authority 5.250 07/01/2033 07/01/2014 A 2,861,870
- ----------------------------------------------------------------------------------------------------------------------
10,000,000 Puerto Rico Public Buildings Authority 5.500 07/01/2022 07/01/2014 A 10,672,500
- ----------------------------------------------------------------------------------------------------------------------
2,000,000 Puerto Rico Public Buildings Authority 5.500 07/01/2023 07/01/2014 A 2,135,740
- ----------------------------------------------------------------------------------------------------------------------
9,000,000 Puerto Rico Public Buildings Authority 5.500 07/01/2024 07/01/2014 A 9,616,410
- ----------------------------------------------------------------------------------------------------------------------
2,065,000 Puerto Rico Public Buildings Authority,
Series D 5.125 07/01/2024 07/01/2012 A 2,117,141
- ----------------------------------------------------------------------------------------------------------------------
825,000 Puerto Rico Public Buildings Authority,
Series G 5.250 07/01/2019 07/01/2012 A 855,443
- ----------------------------------------------------------------------------------------------------------------------
9,910,000 Puerto Rico Public Finance Corp.,
Series A 5.750 08/01/2027 02/01/2012 C 10,488,249
- ----------------------------------------------------------------------------------------------------------------------
255,000 Puerto Rico Public Finance Corp.,
Series E 5.500 08/01/2029 02/01/2012 A 265,993
- ----------------------------------------------------------------------------------------------------------------------
2,750,000 University of Puerto Rico 5.000 06/01/2026 06/01/2016 A 2,808,465
- ----------------------------------------------------------------------------------------------------------------------
160,000 University of Puerto Rico 5.500 06/01/2012 1 12/01/2007 A 160,155
- ----------------------------------------------------------------------------------------------------------------------
8,500,000 University of Puerto Rico, Series P 5.000 06/01/2022 06/01/2016 A 8,718,025
- ----------------------------------------------------------------------------------------------------------------------
5,000,000 University of Puerto Rico, Series P 5.000 06/01/2026 06/01/2016 A 5,106,300
- ----------------------------------------------------------------------------------------------------------------------
8,410,000 University of Puerto Rico, Series Q 5.000 06/01/2023 06/01/2016 A 8,613,354
- ----------------------------------------------------------------------------------------------------------------------
300,000 University of Puerto Rico, Series Q 5.000 06/01/2030 06/01/2016 A 305,937
- ----------------------------------------------------------------------------------------------------------------------
25,000 V.I. HFA, Series A 6.500 03/01/2025 1 09/01/2007 A 25,017
- ----------------------------------------------------------------------------------------------------------------------
1,000,000 V.I. Port Authority, Series A 5.250 09/01/2018 09/01/2010 A 1,034,520
- ----------------------------------------------------------------------------------------------------------------------
2,650,000 V.I. Public Finance Authority (Hovensa) 5.875 07/01/2022 07/01/2014 A 2,831,578
- ----------------------------------------------------------------------------------------------------------------------
1,000,000 V.I. Public Finance Authority, Series A 5.250 10/01/2016 10/01/2014 A 1,050,970
- ----------------------------------------------------------------------------------------------------------------------
2,000,000 V.I. Public Finance Authority, Series A 5.250 10/01/2022 10/01/2014 A 2,089,320
- ----------------------------------------------------------------------------------------------------------------------
1,000,000 V.I. Public Finance Authority, Series A 5.250 10/01/2023 10/01/2014 A 1,044,030
- ----------------------------------------------------------------------------------------------------------------------
10,000,000 V.I. Public Finance Authority, Series A 5.500 10/01/2015 10/01/2008 A 10,264,000
- ----------------------------------------------------------------------------------------------------------------------
180,000 V.I. Public Finance Authority, Series A 5.500 10/01/2022 10/01/2008 A 184,489
- ----------------------------------------------------------------------------------------------------------------------
915,000 V.I. Public Finance Authority, Series A 5.625 10/01/2010 04/26/2009 B 931,388
- ----------------------------------------------------------------------------------------------------------------------
285,000 V.I. Public Finance Authority, Series A 5.625 10/01/2025 10/01/2010 A 292,407
- ----------------------------------------------------------------------------------------------------------------------
21,310,000 V.I. Public Finance Authority, Series A 6.125 10/01/2029 1 10/01/2010 A 22,936,379
- ----------------------------------------------------------------------------------------------------------------------
10,820,000 V.I. Public Finance Authority, Series A 6.375 10/01/2019 1 01/01/2010 A 11,621,005
- ----------------------------------------------------------------------------------------------------------------------
2,665,000 V.I. Public Finance Authority, Series E 5.875 10/01/2018 10/01/2008 A 2,746,629
- ----------------------------------------------------------------------------------------------------------------------
900,000 V.I. Tobacco Settlement Financing Corp.
(TASC) 0.000 4 05/15/2008 05/15/2008 884,988
54 | LIMITED TERM NEW YORK MUNICIPAL FUND
PRINCIPAL EFFECTIVE VALUE
AMOUNT COUPON MATURITY MATURITY* SEE NOTE 1
- -----------------------------------------------------------------------------------------------------------------------
U.S. POSSESSIONS Continued
$ 1,015,000 V.I. Tobacco Settlement Financing Corp.
(TASC) 0.000% 4 05/15/2012 12/28/2009 B $ 999,014
- -----------------------------------------------------------------------------------------------------------------------
80,000 V.I. Tobacco Settlement Financing Corp.
(TASC) 0.000 4 05/15/2014 05/15/2014 79,087
- -----------------------------------------------------------------------------------------------------------------------
1,490,000 V.I. Tobacco Settlement Financing Corp.
(TASC) 5.000 05/15/2021 08/09/2010 D 1,510,130
- -----------------------------------------------------------------------------------------------------------------------
1,440,000 V.I. Tobacco Settlement Financing Corp.
(TASC) 5.000 05/15/2031 05/15/2011 A 1,458,634
- -----------------------------------------------------------------------------------------------------------------------
1,470,000 V.I. Water & Power Authority 5.375 07/01/2010 07/01/2008 A 1,494,378
----------------
724,402,986
- -----------------------------------------------------------------------------------------------------------------------
TOTAL INVESTMENTS, AT VALUE (COST $4,135,988,800)--104.1% 4,201,700,414
- -----------------------------------------------------------------------------------------------------------------------
LIABILITIES IN EXCESS OF OTHER ASSETS--(4.1) (164,426,649)
----------------
NET ASSETS-100.0% $ 4,037,273,765
================
FOOTNOTES TO STATEMENT OF INVESTMENTS
* Call Date, Put Date or Average Life of Sinking Fund, if applicable, as
detailed.
A. Optional call date; corresponds to the most conservative yield
calculation.
B. Average life due to mandatory, or expected, sinking fund principal
payments prior to maturity.
C. Date of mandatory put.
D. Average life due to mandatory, or expected, sinking fund principal
payments prior to the applicable optional call date.
E. Date of prefunded call, or maturity date if escrowed to maturity.
F. Date of planned principal payment.
1. Security also has mandatory sinking fund principal payments prior to maturity
and an average life which is shorter than the stated final maturity.
2. All or a portion of the security has been segregated for collateral to cover
borrowings. See Note 6 of accompanying Notes.
3. Illiquid security. The aggregate value of illiquid or restricted securities
as of June 30, 2007 was $27,269,486, which represents 0.68% of the Fund's net
assets. See Note 5 of accompanying Notes.
4. Denotes a step bond: a zero coupon bond that converts to a fixed or variable
interest rate at a designated future date.
5. Security represents the underlying municipal bond on an inverse floating rate
security. The bond was purchased by the Fund and subsequently segregated and
transferred to a trust. See Note 1 of accompanying Notes.
6. Represents the current interest rate for a variable rate bond known as an
"inverse floater." See Note 1 of accompanying Notes.
7. Zero coupon bond reflects effective yield on the date of purchase.
8. Represents the current interest rate for a variable or increasing rate
security.
55 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF INVESTMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
TO SIMPLIFY THE LISTINGS OF SECURITIES, ABBREVIATIONS ARE USED PER THE TABLE
BELOW:
ACDS Assoc. for Children with Down Syndrome
ACLD Adults and Children with Learning and Developmental Disabilities
ALIA Alliance of Long Island Agencies
BFCC Brookdale Family Care Center
BID Business Improvement District
BOCES Board of Cooperative Educational Services
CAB Capital Appreciation Bond
CCDRCA Catholic Charities of the Diocese of Rockville Centre and Affiliates
CCFDP Child Care Facilities Devel. Program
CFGA Child and Family Guidance Assoc.
CHSLI Catholic Health Services of Long Island
CMA Community Mainstreaming Associates, Inc.
Con Ed Consolidated Edison Company
COP Certificates of Participation
CRR Center for Rapid Recovery
CSMR Community Services for the Mentally Retarded
DA Dormitory Authority
DDI Developmental Disabilities Institute
DIAMONDS Direct Investment of Accrued Municipals
EDA Economic Devel. Authority
EFC Environmental Facilities Corp.
ERDA Energy Research and Devel. Authority
FNHC Ferncilff Nursing Home Company
FREE Family Residences and Essential Enterprises
GO General Obligation
GSHMC Good Samaritan Hospital Medical Center
HDC Housing Devel. Corp.
HFA Housing Finance Agency/Authority
HFC Housing Finance Corp.
HJDOI Hospital for Joint Diseases Orthopedic Institute
HKSB Helen Keller Services for the Blind
IDA Industrial Devel. Agency
IGHL Independent Group Home for Living
IMEPCF Industrial, Medical and Environmental Pollution Control Facilities
ITEMECF Industrial, Tourist, Educational, Medical and Environmental
Community Facilities
JDAM Julia Dyckman Andrus Memorial
JFK John Fitzgerald Kennedy
KR Kateri Residence
L.I. Long Island
LGAC Local Government Assistance Corp.
LGSC Local Government Services Corp.
LILCO Long Island Lighting Corp.
MMC Mercy Medical Center
MMWNHC Mary Manning Walsh Nursing Home Company
MSH/NYU Mount Sinai Hospital/New York University
MTA Metropolitan Transportation Authority
NIMO Niagara Mohawk Power Corp.
NSUH North Shore University Hospital
NY/NJ New York/New Jersey
NYC New York City
NYS New York State
NYU New York University
Res Rec Resource Recovery Facility
RIBS Residual Interest Bonds
RITES Residual Interest Tax Exempt Security
ROLs Residual Option Longs
SCHC Senior Citizen Housing Corp.
SCHRC St. Charles Hospital and Rehabilitation Center
SCSB Schuyler Community Services Board
SCSMC St. Catherine of Sienna Medical Center
SFH St. Francis Hospital
SONYMA State of New York Mortgage Agency
SUNY State University of New York
SV Sienna Village
TASC Tobacco Settlement Asset-Backed Bonds
TFABs Tobacco Flexible Amortization Bonds
UDC Urban Devel. Corp.
USBFCC Urban Strategies Brookdale Family Care Center
V.I. United States Virgin Islands
WORCA Working Organization for Retarded Children and Adults
YMCA Young Men's Christian Assoc.
56 | LIMITED TERM NEW YORK MUNICIPAL FUND
DISTRIBUTION OF INVESTMENTS BY INDUSTRY OF ISSUE, AS A PERCENTAGE OF TOTAL
INVESTMENTS AT VALUE, IS AS FOLLOWS:
INDUSTRY MARKET VALUE PERCENT
- --------------------------------------------------------------------------------
Tobacco Master Settlement Agreement $ 1,139,582,376 27.1%
Hospital/Health Care 505,288,845 12.0
Marine/Aviation Facilities 377,124,276 9.0
General Obligation 361,143,936 8.6
Electric Utilities 248,875,968 5.9
Government Appropriation 218,092,525 5.2
Municipal Leases 177,538,137 4.2
Highways/Commuter Facilities 163,900,294 3.9
Airlines 122,927,374 2.9
Higher Education 117,589,979 2.8
Single Family Housing 112,120,176 2.7
Multifamily Housing 109,804,852 2.6
Commercial Services & Supplies 95,663,866 2.3
Sales Tax Revenue 91,331,977 2.2
Water Utilities 78,224,925 1.9
Education 72,328,603 1.7
Resource Recovery 57,460,646 1.4
Special Assessment 46,766,977 1.1
Not-for-Profit Organization 24,224,701 0.6
Adult Living Facilities 19,365,435 0.5
Beverages 14,229,260 0.4
Special Tax 11,351,573 0.3
Gas Utilities 10,226,946 0.2
Paper, Containers & Packaging 5,614,417 0.1
Casino 5,155,350 0.1
Real Estate 4,791,621 0.1
Parking Fee Revenue 3,316,487 0.1
Food Products 1,931,814 0.1
Household Products 1,876,294 0.0
Construction & Engineering 961,178 0.0
Media 831,293 0.0
Textiles, Apparel & Luxury Goods 575,361 0.0
Aerospace & Defense 529,807 0.0
Household Durables 500,940 0.0
Auto Components 211,229 0.0
Chemicals 175,298 0.0
Specialty Retail 65,678 0.0
----------------------------
Total $ 4,201,700,414 100.0%
============================
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
57 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF ASSETS AND LIABILITIES Unaudited
- --------------------------------------------------------------------------------
June 30, 2007
- --------------------------------------------------------------------------------
ASSETS
- --------------------------------------------------------------------------------
Investments, at value (cost $4,135,988,800)--see
accompanying statement of investments $ 4,201,700,414
- --------------------------------------------------------------------------------
Cash 1,654,121
- --------------------------------------------------------------------------------
Receivables and other assets:
Interest 52,230,265
Investments sold 9,482,836
Shares of beneficial interest sold 5,127,342
Other 79,613
-----------------
Total assets 4,270,274,591
- --------------------------------------------------------------------------------
LIABILITIES
- --------------------------------------------------------------------------------
Payables and other liabilities:
Payable for short-term floating rate notes issued
(See Note 1) 201,430,000
Payable on borrowings (See Note 6) 16,900,000
Shares of beneficial interest redeemed 6,464,392
Investments purchased 2,871,322
Distribution and service plan fees 2,522,531
Dividends 1,862,921
Trustees' compensation 583,889
Transfer and shareholder servicing agent fees 114,023
Shareholder communications 102,813
Interest expense on borrowings 80,805
Other 68,130
-----------------
Total liabilities 233,000,826
- --------------------------------------------------------------------------------
NET ASSETS $ 4,037,273,765
=================
- --------------------------------------------------------------------------------
COMPOSITION OF NET ASSETS
- --------------------------------------------------------------------------------
Paid-in capital $ 3,967,405,253
- --------------------------------------------------------------------------------
Accumulated net investment income 6,132,489
- --------------------------------------------------------------------------------
Accumulated net realized loss on investments (1,975,591)
- --------------------------------------------------------------------------------
Net unrealized appreciation on investments 65,711,614
-----------------
NET ASSETS $ 4,037,273,765
=================
58 | 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 $2,680,354,860 and 798,088,683 shares of beneficial interest
outstanding) $ 3.36
Maximum offering price per share (net asset value plus sales
charge of 3.50% of offering price) $ 3.48
- --------------------------------------------------------------------------------
Class B Shares:
Net asset value, redemption price (excludes applicable contingent
deferred sales charge) and offering price per share (based on net
assets of $276,005,264 and 82,313,259 shares of beneficial
interest outstanding) $ 3.35
- --------------------------------------------------------------------------------
Class C Shares:
Net asset value, redemption price (excludes applicable contingent
deferred sales charge) and offering price per share (based on net
assets of $1,080,913,641 and 323,068,816 shares of beneficial
interest outstanding) $ 3.35
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
59 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF OPERATIONS Unaudited
- --------------------------------------------------------------------------------
For the Six Months Ended June 30, 2007
- --------------------------------------------------------------------------------
INVESTMENT INCOME
- --------------------------------------------------------------------------------
Interest $ 104,682,738
- --------------------------------------------------------------------------------
EXPENSES
- --------------------------------------------------------------------------------
Management fees 8,203,824
- --------------------------------------------------------------------------------
Distribution and service plan fees:
Class A 3,367,982
Class B 1,474,106
Class C 5,418,866
- --------------------------------------------------------------------------------
Transfer and shareholder servicing agent fees:
Class A 379,203
Class B 86,808
Class C 208,996
- --------------------------------------------------------------------------------
Shareholder communications:
Class A 41,766
Class B 7,844
Class C 22,832
- --------------------------------------------------------------------------------
Interest expense and fees on short-term floating rate notes
issued (See Note 1) 4,380,289
- --------------------------------------------------------------------------------
Accounting service fees 618,235
- --------------------------------------------------------------------------------
Interest expense on borrowings 584,091
- --------------------------------------------------------------------------------
Trustees' compensation 128,041
- --------------------------------------------------------------------------------
Custodian fees and expenses 48,148
- --------------------------------------------------------------------------------
Administration service fees 750
- --------------------------------------------------------------------------------
Other 194,568
---------------
Total expenses 25,166,349
Less reduction to custodian expenses (48,148)
---------------
Net expenses 25,118,201
- --------------------------------------------------------------------------------
NET INVESTMENT INCOME 79,564,537
- --------------------------------------------------------------------------------
REALIZED AND UNREALIZED GAIN (LOSS)
- --------------------------------------------------------------------------------
Net realized gain on investments 2,734,596
- --------------------------------------------------------------------------------
Net change in unrealized appreciation on investments (54,785,231)
- --------------------------------------------------------------------------------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $ 27,513,902
===============
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
60 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENTS OF CHANGES IN NET ASSETS
- --------------------------------------------------------------------------------
SIX MONTHS YEAR
ENDED ENDED
JUNE 30, 2007 DECEMBER 31,
(UNAUDITED) 2006
- -------------------------------------------------------------------------------------------
OPERATIONS
- -------------------------------------------------------------------------------------------
Net investment income $ 79,564,537 $ 159,630,692
- -------------------------------------------------------------------------------------------
Net realized gain 2,734,596 3,814,943
- -------------------------------------------------------------------------------------------
Net change in unrealized appreciation (54,785,231) 43,852,868
------------------------------------
Net increase in net assets resulting from operations 27,513,902 207,298,503
- -------------------------------------------------------------------------------------------
DIVIDENDS AND/OR DISTRIBUTIONS TO SHAREHOLDERS
- -------------------------------------------------------------------------------------------
Dividends from net investment income:
Class A (57,408,337) (107,345,837)
Class B (5,093,737) (11,134,838)
Class C (18,792,757) (36,565,214)
------------------------------------
(81,294,831) (155,045,889)
- -------------------------------------------------------------------------------------------
BENEFICIAL INTEREST TRANSACTIONS
- -------------------------------------------------------------------------------------------
Net increase (decrease) in net assets
resulting from beneficial interest
transactions:
Class A (68,172,987) 160,158,935
Class B (38,623,843) (64,819,345)
Class C (10,280,826) (48,015,573)
------------------------------------
(117,077,656) 47,324,017
- -------------------------------------------------------------------------------------------
NET ASSETS
- -------------------------------------------------------------------------------------------
Total increase (decrease) (170,858,585) 99,576,631
- -------------------------------------------------------------------------------------------
Beginning of period 4,208,132,350 4,108,555,719
------------------------------------
End of period (including accumulated net investment
income of $6,132,489 and $7,862,783, respectively) $ 4,037,273,765 $ 4,208,132,350
====================================
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
61 | LIMITED TERM NEW YORK MUNICIPAL FUND
STATEMENT OF CASH FLOWS
- --------------------------------------------------------------------------------
For the Six Months Ended June 30, 2007
- -------------------------------------------------------------------------------------
CASH FLOWS FROM OPERATING ACTIVITIES
- -------------------------------------------------------------------------------------
Net increase in net assets from operations $ 27,513,902
- -------------------------------------------------------------------------------------
Adjustments to reconcile net increase in net assets from operations
to net cash provided by operating activities:
Purchase of investment securities (224,103,168)
Proceeds from disposition of investment securities 359,386,377
Short-term investment securities, net 134,264,783
Premium amortization 9,089,973
Discount accretion (2,826,227)
Net realized gain on investments (2,734,596)
Net change in unrealized appreciation on investments (54,785,231)
Decrease in interest receivable 4,126,451
Decrease in receivable for securities sold 14,710,175
Increase in other assets (12,077)
Decrease in payable for securities purchased (10,569,929)
Decrease in payable for accrued expenses (125,185)
---------------
Net cash provided by operating activities 253,935,248
- -------------------------------------------------------------------------------------
CASH FLOWS FROM FINANCING ACTIVITIES
- -------------------------------------------------------------------------------------
Proceeds from bank borrowings 312,300,000
Payments on bank borrowings (359,100,000)
Payments from short-term floating rate notes issued (11,744,633)
Proceeds from shares sold 448,648,830
Payment on shares redeemed (621,764,374)
Cash distributions paid (21,928,565)
---------------
Net cash used in financing activities (253,588,742)
- -------------------------------------------------------------------------------------
Net increase in cash 346,506
- -------------------------------------------------------------------------------------
Cash, beginning balance 1,307,615
---------------
Cash, ending balance $ 1,654,121
===============
Supplemental disclosure of cash flow information:
Noncash financing activities not included herein consist of reinvestment of
dividends and distributions of $57,503,345.
Cash paid for interest on bank borrowings--$639,091.
Cash paid for interest on short-term notes issued--$4,380,289.
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
62 | LIMITED TERM NEW YORK MUNICIPAL FUND
FINANCIAL HIGHLIGHTS
- --------------------------------------------------------------------------------
SIX MONTHS YEAR
ENDED ENDED
JUNE 30, 2007 DEC. 31,
CLASS A (UNAUDITED) 2006 2005 2004 2003 2002
- ------------------------------------------------------------------------------------------------------------------------------------
PER SHARE OPERATING DATA
- ------------------------------------------------------------------------------------------------------------------------------------
Net asset value, beginning of
period $ 3.40 $ 3.36 $ 3.33 $ 3.32 $ 3.31 $ 3.27
- ------------------------------------------------------------------------------------------------------------------------------------
Income (loss) from investment
operations:
Net investment income .07 1 .14 1 .14 1 .14 1 .14 .15
Net realized and unrealized
gain (loss) (.04) .03 .03 .01 .01 .05
- ------------------------------------------------------------------------------------------------------------------------------------
Total from investment operations .03 .17 .17 .15 .15 .20
- ------------------------------------------------------------------------------------------------------------------------------------
Dividends and/or distributions to
shareholders:
Dividends from net investment income (.07) (.13) (.14) (.14) (.14) (.16)
- ------------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 3.36 $ 3.40 $ 3.36 $ 3.33 $ 3.32 $ 3.31
===========================================================================================
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL RETURN, AT NET ASSET VALUE 2 0.92% 5.30% 5.13% 4.77% 4.80% 6.33%
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA
- ------------------------------------------------------------------------------------------------------------------------------------
Net assets, end of period
(in thousands) $2,680,355 $2,784,037 $2,589,629 $2,155,310 $1,944,385 $1,868,271
- ------------------------------------------------------------------------------------------------------------------------------------
Average net assets
(in thousands) $2,754,488 $2,696,464 $2,380,822 $2,029,517 $1,894,331 $1,472,317
- ------------------------------------------------------------------------------------------------------------------------------------
Ratios to average net assets: 3
Net investment income 4.13% 4.10% 4.12% 4.30% 4.51% 4.65%
Expenses excluding interest and
fees on short-term floating
rate notes issued 0.75% 0.79% 0.79% 0.77% 0.76% 0.74%
Interest and fees on short-term
floating rate notes issued 4 0.21% 0.18% 0.03% 0.01% 0.00% 0.00%
-------------------------------------------------------------------------------------------
Total expenses 0.96% 5 0.97% 5 0.82% 5 0.78% 5 0.76% 5,6 0.74% 5,6,7
- ------------------------------------------------------------------------------------------------------------------------------------
Portfolio turnover rate 5% 23% 19% 16% 28% 21%
1. Per share amounts calculated based on the average shares outstanding during
the period.
2. 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.
3. Annualized for periods less than one full year.
4. Interest and fee expense relates to the Fund's liability for short-term
floating rate notes issued in conjunction with inverse floating rate security
transactions. See Note 1 of accompanying Notes.
5. Reduction to custodian expenses less than 0.005%.
6. Voluntary waiver of transfer agent fees less than 0.005%.
7. Interest expense was less than 0.005%.
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
63 | LIMITED TERM NEW YORK MUNICIPAL FUND
FINANCIAL HIGHLIGHTS Continued
- --------------------------------------------------------------------------------
SIX MONTHS YEAR
ENDED ENDED
JUNE 30, 2007 DEC. 31,
CLASS B (UNAUDITED) 2006 2005 2004 2003 2002
- ------------------------------------------------------------------------------------------------------------------------------------
PER SHARE OPERATING DATA
- ------------------------------------------------------------------------------------------------------------------------------------
Net asset value, beginning of
period $ 3.40 $ 3.36 $ 3.32 $ 3.32 $ 3.31 $ 3.27
- ------------------------------------------------------------------------------------------------------------------------------------
Income (loss) from investment
operations:
Net investment income .06 1 .11 1 .11 1 .12 1 .12 .13
Net realized and unrealized gain
(loss) (.05) .04 .04 -- .01 .05
- ------------------------------------------------------------------------------------------------------------------------------------
Total from investment operations .01 .15 .15 .12 .13 .18
- ------------------------------------------------------------------------------------------------------------------------------------
Dividends and/or distributions to
shareholders:
Dividends from net investment income (.06) (.11) (.11) (.12) (.12) (.14)
- ------------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 3.35 $ 3.40 $ 3.36 $ 3.32 $ 3.32 $ 3.31
===========================================================================================
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL RETURN, AT NET ASSET VALUE 2 0.23% 4.48% 4.62% 3.65% 3.99% 5.53%
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA
- ------------------------------------------------------------------------------------------------------------------------------------
Net assets, end of period
(in thousands) $ 276,005 $ 318,452 $ 379,045 $ 417,473 $ 444,537 $ 383,690
- ------------------------------------------------------------------------------------------------------------------------------------
Average net assets (in thousands) $ 297,502 $ 346,849 $ 398,461 $ 427,486 $ 429,564 $ 261,858
- ------------------------------------------------------------------------------------------------------------------------------------
Ratios to average net assets: 3
Net investment income 3.35% 3.31% 3.34% 3.52% 3.72% 3.85%
Expenses excluding interest and
fees on short-term floating rate
notes issued 1.54% 1.59% 1.58% 1.55% 1.55% 1.51%
Interest and fees on short-term
floating rate notes issued 4 0.21% 0.18% 0.03% 0.01% 0.00% 0.00%
- ------------------------------------------------------------------------------------------------------------------------------------
Total expenses 1.75% 5 1.77% 5 1.61% 5 1.56% 5,6 1.55% 5,6 1.51% 5,6,7
- ------------------------------------------------------------------------------------------------------------------------------------
Portfolio turnover rate 5% 23% 19% 16% 28% 21%
1. Per share amounts calculated based on the average shares outstanding during
the period.
2. 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.
3. Annualized for periods less than one full year.
4. Interest and fee expense relates to the Fund's liability for short-term
floating rate notes issued in conjunction with inverse floating rate security
transactions. See Note 1 of accompanying Notes.
5. Reduction to custodian expenses less than 0.005%.
6. Voluntary waiver of transfer agent fees less than 0.005%.
7. Interest expense was less than 0.005%.
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
64 | LIMITED TERM NEW YORK MUNICIPAL FUND
SIX MONTHS YEAR
ENDED ENDED
JUNE 30, 2007 DEC. 31,
CLASS C (UNAUDITED) 2006 2005 2004 2003 2002
- ------------------------------------------------------------------------------------------------------------------------------------
PER SHARE OPERATING DATA
- ------------------------------------------------------------------------------------------------------------------------------------
Net asset value, beginning of
period $ 3.39 $ 3.35 $ 3.32 $ 3.31 $ 3.30 $ 3.26
- ------------------------------------------------------------------------------------------------------------------------------------
Income (loss) from investment
operations:
Net investment income .06 1 .11 1 .11 1 .12 1 .12 .13
Net realized and unrealized gain
(loss) (.04) .04 .03 .01 .01 .05
- ------------------------------------------------------------------------------------------------------------------------------------
Total from investment operations .02 .15 .14 .13 .13 .18
- ------------------------------------------------------------------------------------------------------------------------------------
Dividends and/or distributions to
shareholders:
Dividends from net investment
income (.06) (.11) (.11) (.12) (.12) (.14)
- ------------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 3.35 $ 3.39 $ 3.35 $ 3.32 $ 3.31 $ 3.30
===========================================================================================
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL RETURN, AT NET ASSET VALUE 2 0.54% 4.52% 4.35% 4.00% 4.02% 5.54%
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA
- ------------------------------------------------------------------------------------------------------------------------------------
Net assets, end of period (in
thousands) $1,080,914 $1,105,643 $1,139,882 $1,040,035 $1,006,103 $ 894,469
- ------------------------------------------------------------------------------------------------------------------------------------
Average net assets (in thousands) $1,092,888 $1,127,896 $1,095,066 $1,009,112 $ 977,323 $ 574,124
- ------------------------------------------------------------------------------------------------------------------------------------
Ratios to average net assets: 3
Net investment income 3.36% 3.34% 3.36% 3.55% 3.74% 3.82%
Expenses excluding interest and
fees on short-term floating rate
notes issued 1.52% 1.56% 1.56% 1.52% 1.52% 1.51%
Interest and fees on short-term
floating rate notes issued 4 0.21% 0.18% 0.03% 0.01% 0.00% 0.00%
- ------------------------------------------------------------------------------------------------------------------------------------
Total expenses 1.73% 5 1.74% 5 1.59% 5 1.53% 5 1.52% 5,6 1.51% 5,6,7
- ------------------------------------------------------------------------------------------------------------------------------------
Portfolio turnover rate 5% 23% 19% 16% 28% 21%
1. Per share amounts calculated based on the average shares outstanding during
the period.
2. 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.
3. Annualized for periods less than one full year.
4. Interest and fee expense relates to the Fund's liability for short-term
floating rate notes issued in conjunction with inverse floating rate security
transactions. See Note 1 of accompanying Notes.
5. Reduction to custodian expenses less than 0.005%.
6. Voluntary waiver of transfer agent fees less than 0.005%.
7. Interest expense was less than 0.005%.
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
65 | 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. 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). All
classes of shares have identical rights and voting privileges with respect to
the Fund in general and exclusive voting rights on matters that affect that
class alone. Earnings, net assets and net asset value per share may differ due
to each class having its own expenses, such as transfer and shareholder
servicing agent fees and shareholder communications, directly attributable to
that class. Class A, B and C have separate distribution and/or service plans.
Class B 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. The Fund calculates the net asset value of its shares as
of the close of the New York Stock Exchange (the "Exchange"), normally 4:00 P.M.
Eastern time, on each day the Exchange is open for business. Securities may be
valued primarily using dealer-supplied valuations or a portfolio pricing service
authorized by the Board of Trustees. Securities listed or traded on National
Stock Exchanges or other domestic 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(R) 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 traded on
foreign exchanges are valued based on the last sale price on the principal
exchange on which the security is traded, as identified by the portfolio pricing
service, prior to the time when the Fund's assets are valued. In the absence of
a sale, the security is valued at the official closing price on the principal
exchange. Corporate, government and municipal debt instruments having a
remaining maturity in excess of sixty days and all mortgage-backed securities
will be valued at the mean between the "bid" and "asked" prices. Futures
contracts traded on a commodities or futures exchange will be valued at the
final settlement price or official closing price on the principal exchange as
reported by such principal exchange at its trading session ending at, or most
recently prior to, the time when the Fund's assets are valued. Options are
valued daily based upon the last sale price on the principal exchange on which
the option is traded. Securities (including restricted securities)
66 | LIMITED TERM NEW YORK MUNICIPAL FUND
for which market quotations are not readily available are valued at their fair
value. Foreign and domestic securities whose values have been materially
affected by what the Manager identifies as a significant event occurring before
the Fund's assets are valued but after the close of their respective exchanges
will be fair valued. Fair value is determined in good faith using consistently
applied procedures under the supervision of the Board of Trustees. Investments
in open-end registered investment companies (including affiliated funds) are
valued at that fund's net asset value. Short-term "money market type" debt
securities with remaining maturities of sixty days or less are valued at
amortized cost (which approximates market value).
- --------------------------------------------------------------------------------
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 will not invest more than 5% of its total assets in inverse floaters.
Inverse floaters amount to $181,953,785 as of June 30, 2007, which represents
4.26% of the Fund's total assets.
Certain inverse floating rate securities are created when the Fund
purchases and subsequently transfers a municipal bond security (the "municipal
bond") to a broker dealer. The municipal bond is typically a fixed rate
security. The broker dealer (the "sponsor") creates a trust (the "Trust") and
deposits the municipal bond. The Trust issues short-term floating rate notes
available to third parties and a residual interest in the municipal bond
(referred to as an "inverse floating rate security") to the Fund. The terms of
these inverse floating rate securities grant the Fund the right to require that
the Trust issuing the inverse floating rate security compel a tender of the
short-term floating rate notes to facilitate the Fund's repurchase of the
underlying municipal bond. Following such a request, the Fund pays the sponsor
the principal amount due to the holders of the short-term floating rate notes
issued by the Trust and exchanges the inverse floating rate security for the
underlying municipal bond. These transactions are considered secured borrowings
for financial reporting purposes. As a result of such accounting treatments, the
Fund includes the municipal bond position on its Statement of Investments (but
does not separately include the inverse floating rate securities received). The
Fund also includes the value of the municipal bond and a payable amount equal to
the short-term floating rate notes issued by the Trust on its Statement of
Assets and Liabilities. The interest rates on these short-term floating rate
notes reset periodically, usually weekly. The holders of these short-term
floating rate notes have the option to tender their investment, to the sponsor
or the Trust's liquidity provider, for redemption at par at each reset date.
Income from the municipal bond position and the interest expense on the payable
for the short-term floating rate notes issued by the Trust are recorded on the
Fund's Statement of Operations. At June 30, 2007 municipal bond holdings with a
value of $382,540,876 shown on the Fund's Statement of Investments are held by
such Trusts and serve as collateral for the $201,430,000 in short-term floating
rate notes issued and outstanding at that date.
67 | LIMITED TERM NEW YORK MUNICIPAL FUND
NOTES TO FINANCIAL STATEMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1. SIGNIFICANT ACCOUNTING POLICIES Continued
At June 30, 2007, the Fund's residual exposure to these types of inverse
floating rate securities were as follows:
PRINCIPAL INVERSE COUPON MATURITY VALUES AS OF
AMOUNT FLOATER 1 RATES 2 DATES JUNE 30, 2007
- ------------------------------------------------------------------------------------------------
$ 7,250,000 NYC GO RITES 8.060% 6/1/23 $ 8,255,140
8,755,000 NYC HDC RITES 6.060 7/1/25 9,391,664
5,770,000 NYS DA (MSH/NYU Hospital
Center/HJDOI Obligated Group) RITES 8.265 7/1/15 6,484,615
5,665,000 NYS DA (MSH/NYU Hospital
Center/HJDOI Obligated Group) RITES 8.265 7/1/16 6,356,753
50,500,000 NYS DA RITES 5.730 8/15/25 51,544,340
5,680,000 NYS DA ROLs 4.350 7/1/16 5,663,017
13,655,000 NYS Thruway Authority ROLs 4.100 1/1/15 13,593,553
5,930,000 Port Authority NY/NJ RITES 5.300 10/1/19 6,024,761
9,175,000 Port Authority NY/NJ RITES 8.530 6/1/12 11,491,963
2,100,000 Puerto Rico Highway &
Transportation Authority ROLs 5.060 7/1/45 2,074,800
34,840,000 TSASC, Inc. (TFABs) RITES 5.140 6/1/22 34,726,770
25,000,000 TSASC, Inc. (TFABs) RITES 5.630 6/1/26 25,503,500
-------------
$ 181,110,876
=============
1. For a list of abbreviations used in the Inverse Floater table see the
Portfolio Abbreviations table on page 56 of the Statement of Investments.
2. Represents the current interest rate for a variable rate bond known as an
"inverse floater."
- --------------------------------------------------------------------------------
SECURITY CREDIT RISK. 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.
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.
68 | LIMITED TERM NEW YORK MUNICIPAL FUND
As of June 30, 2007, the Fund had available for federal income tax
purposes an estimated capital loss carryforward of zero expiring by 2015. 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 is increased or decreased by capital losses or gains
realized in the first six months of the current fiscal year. As of June 30,
2007, it is estimated that the Fund will utilize $2,591,899 of capital loss
carryforward to offset realized capital gains. During the fiscal year ended
December 31, 2006, the Fund utilized $3,551,944 of capital loss carryforward to
offset capital gains realized in that fiscal year.
As of December 31, 2006, the Fund had available for federal income tax purposes
unused capital loss carryforward as follows:
EXPIRING
-------------------------
2011 $2,591,899
- --------------------------------------------------------------------------------
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, 2007, the Fund's projected benefit obligations were increased by
$64,986 and payments of $17,379 were made to retired trustees, resulting in an
accumulated liability of $544,807 as of June 30, 2007.
The Board of Trustees has adopted a compensation deferral 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.
For purposes of determining the amount owed to the Trustee under the plan,
deferred amounts are treated as though equal dollar amounts had been invested in
shares of the Fund or in other Oppenheimer funds selected by the Trustee. The
Fund purchases shares of the funds selected for deferral by the Trustee in
amounts equal to his or her deemed investment, resulting in a Fund asset equal
to the deferred compensation liability. Such assets are included as a component
of "Other" within the asset section of the Statement of Assets and Liabilities.
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 compensation deferral 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.
- --------------------------------------------------------------------------------
INVESTMENT INCOME. Interest income, which includes accretion of discount and
amortization of premium, is accrued as earned.
- --------------------------------------------------------------------------------
CUSTODIAN FEES. "Custodian fees and expenses" in the Statement of Operations may
include interest expense incurred by the Fund on any cash overdrafts of its
custodian account during the period. Such cash overdrafts may result from the
effects of failed
69 | LIMITED TERM NEW YORK MUNICIPAL FUND
NOTES TO FINANCIAL STATEMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1. SIGNIFICANT ACCOUNTING POLICIES Continued
trades in portfolio securities and from cash outflows resulting from
unanticipated shareholder redemption activity. The Fund pays interest to its
custodian on such cash overdrafts, to the extent they are not offset by positive
cash balances maintained by the Fund, at a rate equal to the Federal Funds Rate
plus 0.50%. The "Reduction to custodian expenses" line item, if applicable,
represents earnings on cash balances maintained by the Fund during the period.
Such interest expense and other custodian fees may be paid with these earnings.
- --------------------------------------------------------------------------------
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.
- --------------------------------------------------------------------------------
INDEMNIFICATIONS. The Fund's organizational documents provide current and former
trustees and officers with a limited indemnification against liabilities arising
in connection with the performance of their duties to the Fund. In the normal
course of business, the Fund may also enter into contracts that provide general
indemnifications. The Fund's maximum exposure under these arrangements is
unknown as this would be dependent on future claims that may be made against the
Fund. The risk of material loss from such claims is considered remote.
- --------------------------------------------------------------------------------
OTHER. The preparation of financial statements in conformity with U.S. generally
accepted accounting principles 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, 2007 YEAR ENDED DECEMBER 31, 2006
SHARES AMOUNT SHARES AMOUNT
- ------------------------------------------------------------------------------------------------
CLASS A
Sold 103,648,088 $ 351,255,523 173,487,431 $ 585,095,577
Dividends and/or
distributions reinvested 11,805,966 39,964,171 22,252,589 75,080,525
Redeemed (135,584,398) (459,392,681) (148,275,861) (500,017,167)
-------------------------------------------------------------
Net increase (decrease) (20,130,344) $ (68,172,987) 47,464,159 $ 160,158,935
=============================================================
- ------------------------------------------------------------------------------------------------
CLASS B
Sold 736,103 $ 2,491,655 3,638,956 $ 12,243,715
Dividends and/or
distributions reinvested 1,062,950 3,595,165 2,170,671 7,311,869
Redeemed (13,210,300) (44,710,663) (25,053,087) (84,374,929)
-------------------------------------------------------------
Net decrease (11,411,247) $ (38,623,843) (19,243,460) $ (64,819,345)
=============================================================
70 | LIMITED TERM NEW YORK MUNICIPAL FUND
SIX MONTHS ENDED JUNE 30, 2007 YEAR ENDED DECEMBER 31, 2006
SHARES AMOUNT SHARES AMOUNT
- ------------------------------------------------------------------------------------------------
CLASS C
Sold 27,244,203 $ 91,950,195 53,552,565 $ 179,923,090
Dividends and/or
distributions reinvested 4,133,384 13,944,009 8,008,146 26,921,818
Redeemed (34,415,618) (116,175,030) (75,879,992) (254,860,481)
------------------------------------------------------------
Net decrease (3,038,031) $ (10,280,826) (14,319,281) $ (48,015,573)
============================================================
- --------------------------------------------------------------------------------
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, 2007, were as
follows:
PURCHASES SALES
---------------------------------------------------------
Investment securities $224,103,168 $359,386,377
- --------------------------------------------------------------------------------
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 average net assets as shown in the following table:
FEE SCHEDULE
----------------------------------------------
Up to $100 million 0.50%
Next $150 million 0.45
Next $1.75 billion 0.40
Next $3 billion 0.39
Over $5 billion 0.38
- --------------------------------------------------------------------------------
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 average daily net assets and $9,000 for
each additional $30 million of average daily net assets. During the six months
ended June 30, 2007, the Fund paid $618,244 to the Manager for accounting and
pricing services.
- --------------------------------------------------------------------------------
ADMINISTRATION SERVICE FEES. The Fund pays the Manager a fee of $1,500 per year
for preparing and filing the Fund's tax returns.
- --------------------------------------------------------------------------------
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 per account fee. For the six months ended June 30, 2007, the Fund paid
$697,617 to OFS for services to the Fund.
- --------------------------------------------------------------------------------
DISTRIBUTION AND SERVICE PLAN (12b-1) FEES. Under its General Distributor's
Agreement with the Fund, OppenheimerFunds Distributor, Inc. (the Distributor)
acts as the Fund's principal underwriter in the continuous public offering of
the Fund's classes of shares.
71 | LIMITED TERM NEW YORK MUNICIPAL FUND
NOTES TO FINANCIAL STATEMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
4. FEES AND OTHER TRANSACTIONS WITH AFFILIATES Continued
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
periodically at an annual rate of up to 0.25% of the average annual net assets
of Class A shares of the Fund. The Distributor currently uses all of those fees
to pay dealers, brokers, banks and other financial institutions periodically for
providing personal services and maintenance of accounts of their customers that
hold Class A shares. Any unreimbursed expenses the Distributor incurs with
respect to Class A shares in any fiscal year cannot be recovered in subsequent
periods. Fees incurred by the Fund under the Plan are detailed in the Statement
of Operations.
- --------------------------------------------------------------------------------
DISTRIBUTION AND SERVICE PLANS FOR CLASS B AND CLASS C SHARES. The Fund has
adopted Distribution and Service Plans for Class B and Class C shares to
compensate the Distributor for its services in connection with the distribution
of those shares and servicing accounts. Under the plans, the Fund pays the
Distributor an annual asset-based sales charge of 0.75% on Class B and Class C
shares. The Distributor also receives a service fee of up to 0.25% per year
under each plan. If either the Class B or Class C plan is terminated by the Fund
or by the shareholders of a class, the Board of Trustees and its independent
trustees must determine whether the Distributor shall be entitled to payment
from the Fund of all or a portion of the service fee and/or asset-based sales
charge in respect to shares sold prior to the effective date of such
termination. The Distributor determines its uncompensated expenses under the
plan at calendar quarter ends. The Distributor's aggregate uncompensated
expenses under the plan at June 30, 2007 Class C shares was $25,823,824. Fees
incurred by the Fund under the plans are detailed in the Statement of
Operations.
- --------------------------------------------------------------------------------
SALES CHARGES. Front-end sales charges and contingent deferred sales charges
(CDSC) do not represent expenses of the Fund. They are deducted from the
proceeds of sales of Fund shares prior to investment or from redemption proceeds
prior to remittance, as applicable. The sales charges retained by the
Distributor from the sale of shares and the CDSC retained by the Distributor on
the redemption of shares is shown in the following table for the period
indicated.
CLASS A CLASS B CLASS C
CLASS A CONTINGENT CONTINGENT CONTINGENT
FRONT-END 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, 2007 $481,360 $62,420 $51,312 $129,668
- --------------------------------------------------------------------------------
WAIVERS AND REIMBURSEMENTS OF EXPENSES. OFS has voluntarily agreed to limit
transfer and shareholder servicing agent fees for all classes to 0.35% of
average annual net assets per class. This undertaking may be amended or
withdrawn at any time.
72 | LIMITED TERM NEW YORK MUNICIPAL FUND
- --------------------------------------------------------------------------------
5. ILLIQUID SECURITIES
As of June 30, 2007, 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 will not invest more than 15% of its net assets (determined at the time of
purchase and reviewed periodically) in illiquid securities. Securities that are
illiquid are marked with the applicable footnote on the Statement of
Investments.
- --------------------------------------------------------------------------------
6. BORROWINGS
The Fund can borrow money from banks in amounts up to one-third of its total
assets (including the amount borrowed) less all liabilities and indebtedness
other than borrowings to purchase portfolio securities, to meet redemption
obligations or for temporary and emergency purposes. The purchase of securities
with borrowed funds creates leverage in the Fund.
The Fund entered into a Revolving Credit and Security Agreement with a
conduit lender and a bank which enables it to participate with a certain other
Oppenheimer fund in a committed, unsecured borrowing facility that permits
borrowings of up to $300 million, collectively. To secure the loan, the Fund
pledges investment securities in accordance with the terms of the Agreement.
Interest is charged to the Fund, based on its borrowings, at current commercial
paper issuance rates (5.2880% as of June 30, 2007). The Fund pays additional
fees of 0.30% per annum to the lender on its outstanding borrowings to manage
and administer the facility and is allocated its pro-rata share of a 0.13% per
annum commitment fee for a liquidity backstop facility with respect to the $300
million facility size.
For the six months ended June 30, 2007, the average daily loan balance was
$22,026,519 at an average daily interest rate of 5.2737%. The Fund had
borrowings outstanding of $16,900,000 at June 30, 2007 at an interest rate of
5.2880%. The Fund had gross borrowings and gross loan repayments of $312,300,000
and $359,100,000, respectively, during the six months ended June 30, 2007. The
maximum amount of borrowings outstanding at any month-end during the six months
ended June 30, 2007 was $42,500,000. The Fund paid $88,658 in fees and $639,091
in interest during the six months ended June 30, 2007.
- --------------------------------------------------------------------------------
7. RECENT ACCOUNTING PRONOUNCEMENT
In September 2006, Financial Accounting Standards Board issued Statement of
Financial Accounting Standards ("SFAS") No. 157, FAIR VALUE MEASUREMENTS. This
standard establishes a single authoritative definition of fair value, sets out a
framework for measuring fair value and expands disclosures about fair value
measurements. SFAS No. 157 applies to fair value measurements already required
or permitted by existing standards. SFAS No.
73 | LIMITED TERM NEW YORK MUNICIPAL FUND
NOTES TO FINANCIAL STATEMENTS Unaudited / Continued
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
7. RECENT ACCOUNTING PRONOUNCEMENT Continued
157 is effective for financial statements issued for fiscal years beginning
after November 15, 2007, and interim periods within those fiscal years. As of
June 30, 2007, the Manager does not believe the adoption of SFAS No. 157 will
materially impact the financial statement amounts; however, additional
disclosures may be required about the inputs used to develop the measurements
and the effect of certain of the measurements on changes in net assets for the
period.
74 | LIMITED TERM NEW YORK MUNICIPAL FUND
PORTFOLIO PROXY VOTING POLICIES AND PROCEDURES;
UPDATES TO STATEMENTS OF INVESTMENTS Unaudited
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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
1.800.525.7048, (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 is required to
file 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 Fund's voting record is
available (i) without charge, upon request, by calling the Fund toll-free at
1.800.525.7048, and (ii) in the Form N-PX filing on the SEC's website at
www.sec.gov.
The Fund files its complete schedule of portfolio holdings with the SEC
for the first quarter and the third quarter of each fiscal year on Form N-Q. The
Fund's Form N-Q filings are available on the SEC's website at
http://www.sec.gov. Those forms may be reviewed and copied at the SEC's Public
Reference Room in Washington D.C. Information on the operation of the Public
Reference Room may be obtained by calling 1-800-SEC-0330.
75 | LIMITED TERM NEW YORK MUNICIPAL FUND
ITEM 2. CODE OF ETHICS.
Not applicable to semiannual reports.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Not applicable to semiannual reports.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Not applicable to semiannual reports.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS
Not applicable.
ITEM 6. SCHEDULE OF INVESTMENTS.
Not applicable.
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END
MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT
COMPANY AND AFFILIATED PURCHASERS.
Not applicable.
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
THE FUND'S AUDIT COMMITTEE PROVISIONS WITH RESPECT TO NOMINATIONS OF
DIRECTORS/TRUSTEES TO THE RESPECTIVE BOARDS
1. The Fund's Audit Committee (the "Committee") will evaluate potential Board
candidates to assess their qualifications. The Committee shall have the
authority, upon approval of the Board, to retain an executive search firm
to assist in this effort. The Committee may consider recommendations by
business and personal contacts of current Board members and by executive
search firms which the Committee may engage from time to time and may also
consider shareholder recommendations. The Committee may consider the advice
and recommendation of the Funds' investment manager and its affiliates in
making the selection.
2. The Committee shall screen candidates for Board membership. The Committee
has not established specific qualifications that it believes must be met by
a trustee nominee. In evaluating trustee nominees, the Committee considers,
among other things, an individual's background, skills, and experience;
whether the individual is an "interested person" as defined in the
Investment Company Act of 1940; and whether the individual would be deemed
an "audit committee financial expert" within the meaning of applicable SEC
rules.
The Committee also considers whether the individual's background, skills,
and experience will complement the background, skills, and experience of
other nominees and will contribute to the Board. There are no differences
in the manner in which the Committee evaluates nominees for trustees based
on whether the nominee is recommended by a shareholder.
3. The Committee may consider nominations from shareholders for the Board at
such times as the Committee meets to consider new nominees for the Board.
The Committee shall have the sole discretion to determine the candidates to
present to the Board and, in such cases where required, to shareholders.
Recommendations for trustee nominees should, at a minimum, be accompanied
by the following:
o the name, address, and business, educational, and/or other pertinent
background of the person being recommended;
o a statement concerning whether the person is an "interested person" as
defined in the Investment Company Act of 1940;
o any other information that the Funds would be required to include in a
proxy statement concerning the person if he or she was nominated; and
o the name and address of the person submitting the recommendation and,
if that person is a shareholder, the period for which that person held
Fund shares.
The recommendation also can include any additional information which the
person submitting it believes would assist the Committee in evaluating the
recommendation.
4. Shareholders should note that a person who owns securities issued by
Massachusetts Mutual Life Insurance Company (the parent company of the
Funds' investment adviser) would be deemed an "interested person" under the
Investment Company Act of 1940. In addition, certain other relationships
with Massachusetts Mutual Life Insurance Company or its subsidiaries, with
registered broker-dealers, or with the Funds' outside legal counsel may
cause a person to be deemed an "interested person."
5. Before the Committee decides to nominate an individual as a trustee,
Committee members and other directors customarily interview the individual
in person. In addition, the individual customarily is asked to complete a
detailed questionnaire which is designed to elicit information which must
be disclosed under SEC and stock exchange rules and to determine whether
the individual is subject to any statutory disqualification from serving as
a trustee of a registered investment company.
ITEM 11. CONTROLS AND PROCEDURES.
Based on their evaluation of the registrant's disclosure controls and procedures
(as defined in rule 30a-3(c) under the Investment Company Act of 1940 (17 CFR
270.30a-3(c)) as of
06/30/2007, the registrant's principal executive officer and principal financial
officer found the registrant's disclosure controls and procedures to provide
reasonable assurances that information required to be disclosed by the
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.
There have been no changes in the registrant's internal controls over financial
reporting that occurred during the registrant's second fiscal quarter of the
period covered by this report that have materially affected, or are reasonably
likely to materially affect, the registrant's internal control over financial
reporting.
ITEM 12. EXHIBITS.
(a) (1) Not applicable to semiannual reports.
(2) Exhibits attached hereto.
(3) Not applicable.
(b) Exhibit attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
Rochester Portfolio Series
By: /s/ John V. Murphy
---------------------------
John V. Murphy
Principal Executive Officer
Date: 08/08/2007
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By: /s/ John V. Murphy
---------------------------
John V. Murphy
Principal Executive Officer
Date: 08/08/2007
By: /s/ Brian W. Wixted
---------------------------
Brian W. Wixted
Principal Financial Officer
Date: 08/08/2007