|
|
|
|
|
|
|
|
Portfolio of Investments (Unaudited)
|
|
|
|
|
|
Nuveen North Carolina Dividend Advantage Municipal Fund 3 (NII)
|
|
|
|
|
|
February 29, 2012
|
|
|
|
|
|
|
|
|
|
Principal
|
|
|
Optional Call
|
|
|
Amount (000)
|
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|
|
Consumer Staples – 3.3% (2.1% of Total Investments)
|
|
|
|
$ 2,000
|
|
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds,
|
5/12 at 100.00
|
Baa3
|
$ 1,974,800
|
|
|
Series 2002, 5.500%, 5/15/39
|
|
|
|
|
|
Education and Civic Organizations – 3.4% (2.1% of Total Investments)
|
|
|
|
30
|
|
Appalachian State University, North Carolina, Revenue Bonds, Series 2005, 5.250%, 7/15/17 –
|
No Opt. Call
|
Aa3
|
36,222
|
|
|
NPFG Insured
|
|
|
|
750
|
|
Fayetteville State University, North Carolina, Limited Obligation Revenue Bonds, Student
|
4/21 at 100.00
|
AA–
|
797,543
|
|
|
Housing Project, Series 2011, 5.000%, 4/01/43 – AGM Insured
|
|
|
|
200
|
|
North Carolina Capital Facilities Financing Agency, Revenue Bonds, Johnson and Wales
|
4/13 at 100.00
|
N/R
|
201,562
|
|
|
University, Series 2003A, 5.000%, 4/01/33 – SYNCORA GTY Insured
|
|
|
|
440
|
|
University of North Carolina System, Pooled Revenue Refunding Bonds, Series 2002A, 5.000%,
|
No Opt. Call
|
A+
|
448,312
|
|
|
4/01/27 – AMBAC Insured
|
|
|
|
500
|
|
University of North Carolina Wilmington, Certificates of Participation, Student Housing
|
6/16 at 100.00
|
A–
|
546,675
|
|
|
Project Revenue Bonds, Series 2006, 5.000%, 6/01/21 – FGIC Insured
|
|
|
|
1,920
|
|
Total Education and Civic Organizations
|
|
|
2,030,314
|
|
|
Health Care – 25.9% (16.5% of Total Investments)
|
|
|
|
|
|
Albemarle Hospital Authority, North Carolina, Health Care Facilities Revenue Bonds,
|
|
|
|
|
|
Series 2007:
|
|
|
|
695
|
|
5.250%, 10/01/27
|
10/17 at 100.00
|
N/R
|
654,725
|
70
|
|
5.250%, 10/01/38
|
10/17 at 100.00
|
N/R
|
62,132
|
1,200
|
|
Charlotte-Mecklenberg Hospital Authority, North Carolina, Carolinas HealthCare System Revenue
|
1/18 at 100.00
|
AA–
|
1,251,396
|
|
|
Bonds, Series 2008A, 5.000%, 1/15/47
|
|
|
|
500
|
|
Charlotte-Mecklenberg Hospital Authority, North Carolina, Health Care Refunding Revenue Bonds,
|
1/19 at 100.00
|
AA–
|
542,395
|
|
|
Carolinas HealthCare System, Series 2009A, 5.250%, 1/15/39
|
|
|
|
1,000
|
|
Charlotte-Mecklenberg Hospital Authority, North Carolina, Health Care Revenue Bonds, Carolinas
|
1/21 at 100.00
|
AA–
|
1,101,620
|
|
|
HealthCare System, Series 2011A, 5.250%, 1/15/42
|
|
|
|
580
|
|
Charlotte-Mecklenburg Hospital Authority, North Carolina, Healthcare System Revenue Bonds,
|
7/12 at 100.00
|
AA–
|
580,650
|
|
|
Carolinas Healthcare System, Series 2001A, 5.000%, 1/15/31
|
|
|
|
520
|
|
Johnston Memorial Hospital Authority, North Carolina, Mortgage Revenue Bonds, Johnston
|
4/18 at 100.00
|
AA–
|
564,008
|
|
|
Memorial Hospital Project, Series 2008A, 5.250%, 10/01/36 – AGM Insured
|
|
|
|
180
|
|
New Hanover County, North Carolina, Hospital Revenue Bonds, New Hanover Regional Medical
|
10/19 at 100.00
|
AA–
|
196,272
|
|
|
Center, Series 2006B, 5.125%, 10/01/31 – AGM Insured
|
|
|
|
|
|
North Carolina Medical Care Commission Health Care Facilities Revenue Bonds Novant Health
|
|
|
|
|
|
Inc., Series 2010A:
|
|
|
|
2,000
|
|
5.250%, 11/01/40
|
11/20 at 100.00
|
A+
|
2,125,040
|
500
|
|
5.000%, 11/01/43
|
11/20 at 100.00
|
A+
|
519,030
|
1,000
|
|
North Carolina Medical Care Commission, Health Care Facilities Refunding Revenue Bonds, Blue
|
1/20 at 100.00
|
A
|
1,015,810
|
|
|
Ridge HealthCare, Series 2010A, 5.000%, 1/01/36
|
|
|
|
1,000
|
|
North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Appalachian
|
7/21 at 100.00
|
BBB+
|
1,148,180
|
|
|
Regional HealthCare System, Series 2011A, 6.500%, 7/01/31
|
|
|
|
1,000
|
|
North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Cleveland County
|
1/21 at 100.00
|
A
|
1,091,410
|
|
|
Healthcare System, Refunding Series 2011A, 5.750%, 1/01/35
|
|
|
|
545
|
|
North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, WakeMed, Series
|
10/14 at 100.00
|
AA–
|
567,710
|
|
|
2009A, 5.625%, 10/01/38 – AGC Insured
|
|
|
|
2,000
|
|
North Carolina Medical Care Commission, Healthcare Facilities Revenue Bonds, Novant Health
|
11/13 at 100.00
|
A+
|
2,121,220
|
|
|
Obligated Group, Series 2003A, 5.000%, 11/01/18
|
|
|
|
1,000
|
|
North Carolina Medical Care Commission, Hospital Revenue Bonds, Wilson Medical Center, Series
|
11/17 at 100.00
|
A–
|
1,046,890
|
|
|
2007, 5.000%, 11/01/27
|
|
|
|
400
|
|
North Carolina Medical Care Commission, Revenue Bonds, Blue Ridge Healthcare System, Series
|
1/15 at 100.00
|
A
|
404,240
|
|
|
2005, 5.000%, 1/01/33 – FGIC Insured
|
|
|
|
150
|
|
Northern Hospital District of Surry County, North Carolina, Health Care Facilities Revenue
|
4/18 at 100.00
|
BBB
|
159,852
|
|
|
Bonds, Series 2008, 6.250%, 10/01/38
|
|
|
|
500
|
|
Onslow County Hospital Authority, North Carolina, FHA Insured Mortgage Revenue Bonds, Onslow
|
10/16 at 100.00
|
BBB
|
523,210
|
|
|
Memorial Hospital Project, Series 2006, 5.000%, 4/01/31 – NPFG Insured
|
|
|
|
14,840
|
|
Total Health Care
|
|
|
15,675,790
|
|
|
Housing/Multifamily – 1.8% (1.1% of Total Investments)
|
|
|
|
1,000
|
|
Mecklenburg County, North Carolina, FNMA Multifamily Housing Revenue Bonds, Little Rock
|
7/13 at 105.00
|
AA+
|
1,063,850
|
|
|
Apartments, Series 2003, 5.150%, 1/01/22 (Alternative Minimum Tax)
|
|
|
|
|
|
Housing/Single Family – 3.3% (2.1% of Total Investments)
|
|
|
|
450
|
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Series 2007-29A, 4.800%,
|
1/17 at 100.00
|
AA
|
456,665
|
|
|
7/01/33 (Alternative Minimum Tax)
|
|
|
|
1,000
|
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Series 2011-1,
|
1/21 at 100.00
|
AA
|
1,052,090
|
|
|
4.500%, 1/01/28
|
|
|
|
495
|
|
North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Series 25-A, 4.900%,
|
7/16 at 100.00
|
AA
|
501,821
|
|
|
7/01/37 (Alternative Minimum Tax)
|
|
|
|
1,945
|
|
Total Housing/Single Family
|
|
|
2,010,576
|
|
|
Long-Term Care – 1.7% (1.1% of Total Investments)
|
|
|
|
|
|
North Carolina Medical Care Commission, Healthcare Facilities Revenue Bonds, Presbyterian
|
|
|
|
|
|
Homes, Series 2006:
|
|
|
|
250
|
|
5.400%, 10/01/27
|
10/16 at 100.00
|
N/R
|
250,893
|
600
|
|
5.500%, 10/01/31
|
10/16 at 100.00
|
N/R
|
600,930
|
190
|
|
North Carolina Medical Care Commission, Revenue Bonds, Pines at Davidson, Series 2006A,
|
1/16 at 100.00
|
N/R
|
191,009
|
|
|
5.000%, 1/01/36
|
|
|
|
1,040
|
|
Total Long-Term Care
|
|
|
1,042,832
|
|
|
Materials – 0.3% (0.2% of Total Investments)
|
|
|
|
200
|
|
Columbus County Industrial Facilities and Pollution Control Financing Authority, North
|
3/17 at 100.00
|
BBB
|
200,398
|
|
|
Carolina, Environmental Improvement Revenue Bonds, International Paper Company Project,
|
|
|
|
|
|
Series 2007A, 4.625%, 3/01/27
|
|
|
|
|
|
Tax Obligation/General – 1.5% (1.0% of Total Investments)
|
|
|
|
300
|
|
North Carolina State, General Obligation Bonds, Series 2004A, 5.000%, 3/01/22
|
3/14 at 100.00
|
AAA
|
324,924
|
550
|
|
Wake County, North Carolina, Limited Obligation Bonds, Series 2010, 5.000%, 1/01/37
|
1/20 at 100.00
|
AA+
|
613,091
|
850
|
|
Total Tax Obligation/General
|
|
|
938,015
|
|
|
Tax Obligation/Limited – 23.9% (15.3% of Total Investments)
|
|
|
|
2,750
|
|
Charlotte, North Carolina, Certificates of Participation, Governmental Facilities Projects,
|
6/13 at 100.00
|
AA+
|
2,811,518
|
|
|
Series 2003G, 5.000%, 6/01/33
|
|
|
|
575
|
|
Charlotte, North Carolina, Certificates of Participation, Transit Projects Phase 2, Series
|
6/18 at 100.00
|
AA+
|
622,547
|
|
|
2008A, 5.000%, 6/01/33
|
|
|
|
800
|
|
Craven County, North Carolina, Certificates of Participation, Series 2007, 5.000%, 6/01/27 –
|
6/17 at 100.00
|
AA–
|
874,656
|
|
|
NPFG Insured
|
|
|
|
265
|
|
Government of Guam, Business Privilege Tax Bonds, Series 2011A, 5.125%, 1/01/42
|
1/22 at 100.00
|
A
|
287,803
|
200
|
|
Harnett County, North Carolina, Certificates of Participation, Series 2009, 5.000%, 6/01/28 –
|
6/19 at 100.00
|
AA–
|
221,564
|
|
|
AGC Insured
|
|
|
|
500
|
|
Lee County, North Carolina, Certificates of Participation, Public Schools and Community
|
4/14 at 100.00
|
AA–
|
532,970
|
|
|
College, Series 2004, 5.250%, 4/01/20 – AGM Insured
|
|
|
|
200
|
|
Mecklenburg County, North Carolina, Certificates of Participation, Series 2009A,
|
No Opt. Call
|
AA+
|
224,752
|
|
|
5.000%, 2/01/27
|
|
|
|
1,500
|
|
North Carolina Turnpike Authority, Monroe Connector System State Appropriation Bonds, Series
|
7/21 at 100.00
|
AA
|
1,686,120
|
|
|
2011, 5.000%, 7/01/41
|
|
|
|
2,625
|
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2010A,
|
No Opt. Call
|
A+
|
735,735
|
|
|
0.000%, 8/01/35
|
|
|
|
565
|
|
Raleigh, North Carolina, Certificates of Participation, Series 2007, 5.000%, 2/01/27
|
2/17 at 100.00
|
AA+
|
619,155
|
565
|
|
Rutherford County, North Carolina, Certificates of Participation, Series 2002, 5.000%, 9/01/21 –
|
9/12 at 101.00
|
A1
|
578,780
|
|
|
AMBAC Insured
|
|
|
|
1,000
|
|
Rutherford County, North Carolina, Certificates of Participation, Series 2007, 5.000%,
|
12/17 at 100.00
|
AA–
|
1,102,510
|
|
|
12/01/27 – AGM Insured
|
|
|
|
1,200
|
|
Sampson County, North Carolina, Certificates of Participation, Series 2006, 5.000%, 6/01/34 –
|
6/17 at 100.00
|
AA–
|
1,270,584
|
|
|
AGM Insured (UB)
|
|
|
|
1,785
|
|
Union County, North Carolina, Certificates of Participation, Series 2003, 5.000%, 6/01/20 –
|
6/13 at 101.00
|
Aa2
|
1,895,938
|
|
|
AMBAC Insured
|
|
|
|
500
|
|
Wilmington, North Carolina, Certificates of Participation, Series 2008A, 5.000%, 6/01/29
|
6/18 at 100.00
|
AA
|
553,470
|
400
|
|
Wilson County, North Carolina, Certificates of Participation, School Facilities Project,
|
4/17 at 100.00
|
Aa3
|
435,316
|
|
|
Series 2007, 5.000%, 4/01/25 – AMBAC Insured
|
|
|
|
15,430
|
|
Total Tax Obligation/Limited
|
|
|
14,453,418
|
|
|
Transportation – 10.5% (6.7% of Total Investments)
|
|
|
|
500
|
|
Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International Refunding
|
7/20 at 100.00
|
Aa3
|
545,310
|
|
|
Series 2010A, 5.000%, 7/01/39
|
|
|
|
700
|
|
Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International, Series
|
No Opt. Call
|
Aa3
|
739,809
|
|
|
2010B, 5.000%, 7/01/36 (Alternative Minimum Tax)
|
|
|
|
660
|
|
North Carolina State Ports Authority, Port Facilities Revenue Bonds, Senior Lien Series 2010A,
|
2/20 at 100.00
|
A3
|
717,110
|
|
|
5.250%, 2/01/40
|
|
|
|
|
|
North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Series 2009A:
|
|
|
|
810
|
|
5.500%, 1/01/29 – AGC Insured
|
1/19 at 100.00
|
AA–
|
915,349
|
1,155
|
|
5.750%, 1/01/39 – AGC Insured
|
1/19 at 100.00
|
AA–
|
1,294,998
|
|
|
North Carolina Turnpike Authority, Triangle Expressway System Senior Lien Revenue Bonds,
|
|
|
|
|
|
Series 2009B:
|
|
|
|
2,295
|
|
0.000%, 1/01/35 – AGC Insured
|
No Opt. Call
|
AA–
|
779,566
|
140
|
|
0.000%, 1/01/37 – AGC Insured
|
No Opt. Call
|
AA–
|
42,743
|
300
|
|
0.000%, 1/01/38 – AGC Insured
|
No Opt. Call
|
AA–
|
86,661
|
1,100
|
|
Raleigh Durham Airport Authority, North Carolina, Airport Revenue Bonds, Refunding Series
|
No Opt. Call
|
Aa3
|
1,215,929
|
|
|
2010A, 5.000%, 5/01/36
|
|
|
|
7,660
|
|
Total Transportation
|
|
|
6,337,475
|
|
|
U.S. Guaranteed – 28.2% (18.1% of Total Investments) (4)
|
|
|
|
1,800
|
|
Catawba County, North Carolina, Certificates of Participation, Series 2004, 5.250%, 6/01/22
|
6/14 at 100.00
|
Aa2 (4)
|
2,000,214
|
|
|
(Pre-refunded 6/01/14) – NPFG Insured
|
|
|
|
200
|
|
Charlotte-Mecklenburg Hospital Authority, North Carolina, Healthcare System Revenue Bonds, DBA
|
1/15 at 100.00
|
AA+ (4)
|
226,482
|
|
|
Carolinas Healthcare System, Series 2005A, 5.000%, 1/15/45 (Pre-refunded 1/15/15)
|
|
|
|
3,000
|
|
Dare County, North Carolina, Certificates of Participation, Series 2002, 5.000%, 6/01/23
|
12/12 at 100.00
|
AA– (4)
|
3,109,230
|
|
|
(Pre-refunded 12/01/12) – AMBAC Insured
|
|
|
|
|
|
Forsyth County, North Carolina, Certificates of Participation, Public Facilities and Equipment
|
|
|
|
|
|
Project, Series 2002:
|
|
|
|
1,325
|
|
5.125%, 1/01/16 (Pre-refunded 1/01/13)
|
1/13 at 101.00
|
AA+ (4)
|
1,391,555
|
770
|
|
5.250%, 1/01/19 (Pre-refunded 1/01/13)
|
1/13 at 101.00
|
AA+ (4)
|
809,486
|
|
|
Lincoln County, North Carolina, General Obligation Bonds, Series 2002A:
|
|
|
|
850
|
|
5.000%, 6/01/19 (Pre-refunded 6/01/12) – FGIC Insured
|
6/12 at 101.00
|
AA– (4)
|
869,108
|
900
|
|
5.000%, 6/01/20 (Pre-refunded 6/01/12) – FGIC Insured
|
6/12 at 101.00
|
AA– (4)
|
920,232
|
1,050
|
|
5.000%, 6/01/21 (Pre-refunded 6/01/12) – FGIC Insured
|
6/12 at 101.00
|
AA– (4)
|
1,073,604
|
1,600
|
|
North Carolina Capital Facilities Financing Agency, Revenue Bonds, Duke University, Series
|
10/12 at 100.00
|
Aaa
|
1,646,976
|
|
|
2002A, 5.125%, 7/01/42 (Pre-refunded 10/01/12)
|
|
|
|
500
|
|
North Carolina Medical Care Commission, Revenue Bonds, Northeast Medical Center, Series 2004,
|
11/14 at 100.00
|
Aa3 (4)
|
560,230
|
|
|
5.000%, 11/01/24 (Pre-refunded 11/01/14)
|
|
|
|
1,000
|
|
North Carolina, Certificates of Participation, Repair and Renovation Project, Series 2004B,
|
6/14 at 100.00
|
AA+ (4)
|
1,105,620
|
|
|
5.000%, 6/01/20 (Pre-refunded 6/01/14)
|
|
|
|
400
|
|
Raleigh, North Carolina, General Obligation Bonds, Series 2002, 5.000%, 6/01/21
|
6/12 at 100.00
|
AAA
|
404,992
|
|
|
(Pre-refunded 6/01/12)
|
|
|
|
1,435
|
|
Rutherford County, North Carolina, Certificates of Participation, Series 2002, 5.000%, 9/01/21
|
9/12 at 101.00
|
A1 (4)
|
1,484,292
|
|
|
(Pre-refunded 9/01/12) – AMBAC Insured
|
|
|
|
|
|
University of North Carolina System, Pooled Revenue Refunding Bonds, Series 2002A:
|
|
|
|
265
|
|
5.000%, 4/01/27 (Pre-refunded 10/01/12) – AMBAC Insured
|
10/12 at 100.00
|
N/R (4)
|
272,505
|
610
|
|
5.000%, 4/01/27 (Pre-refunded 10/01/12) – AMBAC Insured
|
10/12 at 100.00
|
N/R (4)
|
627,464
|
585
|
|
5.000%, 4/01/27 (Pre-refunded 10/01/12) – AMBAC Insured
|
10/12 at 100.00
|
N/R (4)
|
601,678
|
16,290
|
|
Total U.S. Guaranteed
|
|
|
17,103,668
|
|
|
Utilities – 13.9% (8.9% of Total Investments)
|
|
|
|
150
|
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2003F,
|
1/13 at 100.00
|
A–
|
155,616
|
|
|
5.500%, 1/01/16
|
|
|
|
500
|
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2005,
|
1/16 at 100.00
|
A–
|
566,180
|
|
|
5.250%, 1/01/20 – AMBAC Insured
|
|
|
|
1,400
|
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2009B,
|
1/19 at 100.00
|
A–
|
1,570,520
|
|
|
5.000%, 1/01/26
|
|
|
|
|
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Refunding Bonds,
|
|
|
|
|
|
Series 1993B:
|
|
|
|
1,210
|
|
5.500%, 1/01/17 – FGIC Insured
|
7/12 at 100.00
|
Baa1
|
1,214,453
|
95
|
|
6.000%, 1/01/22
|
No Opt. Call
|
A–
|
121,783
|
15
|
|
6.000%, 1/01/22 – FGIC Insured
|
No Opt. Call
|
Baa1
|
19,199
|
275
|
|
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series
|
1/19 at 100.00
|
A
|
302,957
|
|
|
2009A, 5.000%, 1/01/30
|
|
|
|
2,665
|
|
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 2003A, 5.250%,
|
1/13 at 100.00
|
A
|
2,770,934
|
|
|
1/01/15 – AMBAC Insured
|
|
|
|
250
|
|
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 2008A,
|
1/18 at 100.00
|
A
|
293,280
|
|
|
5.250%, 1/01/20
|
|
|
|
1,400
|
|
Wake County Industrial Facilities and Pollution Control Financing Authority, North Carolina,
|
2/13 at 100.50
|
A1
|
1,419,502
|
|
|
Revenue Refunding Bonds, Carolina Power and Light Company, Series 2002, 5.375%, 2/01/17
|
|
|
|
7,960
|
|
Total Utilities
|
|
|
8,434,424
|
|
|
Water and Sewer – 38.7% (24.8% of Total Investments)
|
|
|
|
2,000
|
|
Brunswick County, North Carolina, Enterprise System Revenue Bonds, Series 2008A, 5.000%,
|
4/18 at 100.00
|
AA–
|
2,228,700
|
|
|
4/01/31 – AGM Insured
|
|
|
|
425
|
|
Cape Fear Public Utility Authority, North Carolina, Water & Sewer System Revenue Bonds, Series
|
8/18 at 100.00
|
AA
|
496,651
|
|
|
2008, 5.000%, 8/01/28
|
|
|
|
|
|
Dare County, North Carolina, Utilities System Revenue Bonds, Series 2011:
|
|
|
|
1,320
|
|
5.000%, 2/01/36
|
2/21 at 100.00
|
AA
|
1,481,872
|
500
|
|
5.000%, 2/01/41
|
2/21 at 100.00
|
AA
|
555,620
|
300
|
|
Durham County, North Carolina, Enterprise System Revenue Bonds, Series 2002, 5.000%, 6/01/18 –
|
6/13 at 100.00
|
AA
|
315,480
|
|
|
NPFG Insured
|
|
|
|
3,050
|
|
Durham, North Carolina, Utility System Revenue Bonds, Refunding Series 2011, 5.000%, 6/01/41
|
6/21 at 100.00
|
AAA
|
3,443,596
|
1,535
|
|
Mooresville, North Carolina, Enterprise System Revenue Bonds, Refunding Series 2012, 5.000%,
|
5/22 at 100.00
|
AA–
|
1,832,821
|
|
|
5/01/28 (WI/DD, Settling 3/20/12)
|
|
|
|
600
|
|
Oak Island, North Carolina, Enterprise System Revenue Bonds, Series 2008A, 5.000%, 6/01/23 –
|
6/18 at 100.00
|
A2
|
665,064
|
|
|
NPFG Insured
|
|
|
|
|
|
Oak Island, North Carolina, Enterprise System Revenue Bonds, Series 2009A:
|
|
|
|
70
|
|
6.000%, 6/01/34 – AGC Insured
|
6/19 at 100.00
|
AA–
|
80,278
|
20
|
|
6.000%, 6/01/36 – AGC Insured
|
6/19 at 100.00
|
AA–
|
22,855
|
300
|
|
Oak Island, North Carolina, Enterprise System Revenue Bonds, Series 2011, 5.750%, 6/01/36 –
|
6/21 at 100.00
|
AA–
|
345,144
|
|
|
AGC Insured
|
|
|
|
500
|
|
Onslow County, North Carolina, Combined Enterprise System Revenue Bonds, Series 2004B, 5.000%,
|
6/14 at 100.00
|
A+
|
539,935
|
|
|
6/01/23 – SYNCORA GTY Insured
|
|
|
|
|
|
Raleigh, North Carolina, Combined Enterprise System Revenue Bonds, Series 2006A:
|
|
|
|
4,950
|
|
5.000%, 3/01/31 (UB)
|
3/16 at 100.00
|
AAA
|
5,532,071
|
3,000
|
|
5.000%, 3/01/36 (UB)
|
3/16 at 100.00
|
AAA
|
3,305,970
|
5
|
|
Raleigh, North Carolina, Combined Enterprise System Revenue Bonds, Series 2006A, Residuals
|
No Opt. Call
|
AAA
|
6,529
|
|
|
Series 11-R-645-2, 13.961%, 3/01/14 (IF)
|
|
|
|
2,375
|
|
Winston-Salem, North Carolina, Water and Sewer System Revenue Bonds, Series 2007A, 5.000%,
|
6/17 at 100.00
|
AAA
|
2,593,999
|
|
|
6/01/37 (UB)
|
|
|
|
20,950
|
|
Total Water and Sewer
|
|
|
23,446,585
|
$ 92,085
|
|
Total Investments (cost $88,880,744) – 156.4%
|
|
|
94,712,145
|
|
|
Floating Rate Obligations – (12.4)%
|
|
|
(7,480,000)
|
|
|
MuniFund Term Preferred Shares, at Liquidation Value – (47.4)% (5)
|
|
|
(28,725,000)
|
|
|
Other Assets Less Liabilities – 3.4%
|
|
|
2,037,695
|
|
|
Net Assets Applicable to Common Shares – 100%
|
|
|
$ 60,544,840
|