- Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (N-Q)
September 28 2009 - 2:34PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-07560
Morgan
Stanley Quality Municipal Securities
(Exact name of registrant as specified in charter)
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522 Fifth Avenue, New York, New York
(Address of principal executive offices)
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10036
(Zip code)
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Randy Takian
522 Fifth Avenue, New York, New York 10036
(Name and address of agent for service)
Registrants telephone number, including area code: 212-296-6963
Date of fiscal year end: October 31, 2009
Date of reporting period: July 31, 2009
Item 1. Schedule of Investments.
The Trusts schedule of investments as of the close of the reporting period prepared pursuant to
Rule 12-12 of Regulation S-X is as follows:
Morgan Stanley Quality Municipal Securities
Portfolio of Investments July 31, 2009 (unaudited)
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PRINCIPAL
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AMOUNT IN
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COUPON
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MATURITY
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THOUSANDS
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RATE
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DATE
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VALUE
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Tax-Exempt Municipal Bonds (157.4%)
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Alabama (0.7%)
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$
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2,000
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Jefferson County, School Ser 2004 A
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5.50
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%
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01/01/22
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$
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1,184,220
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Alaska (0.9%)
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3,000
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Northern Tobacco Securitization Corporation, Asset Backed
Ser 2006 A
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5.00
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06/01/46
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1,641,210
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Arizona (3.5%)
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1,010
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Arizona, Ser 2008 A (FSA Insd)
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5.00
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09/01/24
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1,028,301
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425
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Maricopa County, Pollution Control Corp., 2009 Ser A
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6.00
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05/01/29
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432,438
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3,890
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Salt River Project Agricultural Improvement & Power District,
2002 Ser B (a)
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5.00
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01/01/22
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3,989,154
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1,000
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Surprise Municipal Property Corporation,Ser 2007
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4.90
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04/01/32
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761,120
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6,211,013
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California (26.4%)
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1,010
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Alhambra Unified School District 2009 Ser B (g)
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0.00
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08/01/35
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181,588
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1,635
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Alhambra Unified School District 2009 Ser B (g)
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0.00
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08/01/36
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276,626
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765
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Alvord Unified School District, Ser 2007 A (FSA Insd)
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5.00
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08/01/24
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774,287
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710
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Beverly Hills, Unified School District Ser 2009 (g)
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0.00
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08/01/26
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298,626
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1,370
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Beverly Hills, Unified School District Ser 2009 (g)
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0.00
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08/01/31
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413,480
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900
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California Department of Water Reserve and Power Supply, Ser 2008 H
(FSA Insd)
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5.00
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05/01/22
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945,477
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3,000
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California Health Facilities Financing Authority, Cedars-Sinai Medical
Center Ser 2005
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5.00
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11/15/34
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2,618,880
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5,000
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California Public Works Board, Mental Health 2004 Ser A
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5.00
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06/01/24
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4,564,350
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3,000
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California, Various Purpose dtd 05/01/03
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5.00
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02/01/32
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2,811,390
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2,000
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California, Various Purpose dtd 12/01/05
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5.00
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03/01/27
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1,974,580
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355
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Clovis Unified School District Election of 2004 Ser A (FGIC Insd) (g)
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0.00
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08/01/29
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97,479
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2,690
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Dry Creek Joint Elementary School District Election 2008 E Ser 2009 (g)
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0.00
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08/01/43
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264,642
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4,825
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Dry Creek Joint Elementary School District Election 2008 E Ser 2009 (g)
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0.00
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08/01/44
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442,646
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1,980
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EL Segundo California School District Election of 2008 Ser A (g)
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0.00
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08/01/32
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436,828
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4,000
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Golden State Tobacco Securitization Corporation, Asset Backed
Ser 2007 A
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5.125
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06/01/47
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2,162,960
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1,400
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Golden State Tobacco Securitization Corporation, Asset Backed
Ser 2007 A
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5.75
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06/01/47
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840,210
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2,000
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Golden State Tobacco Securitization Corporation, Asset Backed
Ser 2005 A (AMBAC Insd)
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5.00
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06/01/29
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1,703,700
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310
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Indio Redevelopment Agency, Ser A
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5.00
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08/15/23
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281,514
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310
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Indio Redevelopment Agency, Ser A
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5.00
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08/15/24
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279,846
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4,000
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Los Angeles, Community College District, 2003 Ser B
(FSA Insd)
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5.00
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08/01/27
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4,002,880
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5,000
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Los Angeles Department of Water & Power, Water 2004 Ser C
(NATL-RE Insd) (a)
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5.00
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07/01/23
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5,125,018
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1,010
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Menifee Union School District, Election of 2008 Ser 2008 C (AGC Insd) (g)
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0.00
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08/01/34
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192,476
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3,040
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Milpitas Redevelopment Agency, Area #1 Ser 2003 (NATL-RE Insd)
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5.00
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09/01/22
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2,798,806
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1,120
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Moreland School District, Santa Clara County 2006 Ser C (AMBAC Insd) (g)
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0.00
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08/01/29
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293,698
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815
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Oak Grove School District, Santa Clara County Election 2008 Ser A (g)
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0.00
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08/01/28
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241,729
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4,025
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Paterson Joint Unified School District, Election of 2008 Ser 2009 B
(FSA Insd) (g)
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0.00
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08/01/36
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691,736
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1,590
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Paterson Joint Unified School District, Election of 2008 Ser 2009 B
(FSA Insd) (g)
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0.00
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08/01/37
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251,872
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2,040
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Poway Unified School District, School Facilities Improvement District
No. 2007-1 Election 2008 Ser A (g)
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0.00
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08/01/27
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654,106
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2,545
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Poway Unified School District, School Facilities Improvement District
No. 2007-1 Election 2008 Ser A (g)
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0.00
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08/01/31
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604,743
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20,480
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San Bernardino Community College District Election 2002 Ser B (g)
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0.00
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08/01/48
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1,434,829
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1,000
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San Diego County, Burnham Institute for Medical Research Ser 2006
(COPs)
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5.00
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09/01/34
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737,030
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4,240
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San Diego County Water Authority, Ser 2004 (COPs)
(FSA Insd) (a)
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5.00
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05/01/29
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4,248,077
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540
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San Francisco City & County, Laguana Honda Hospital (FSA Insd) (a)
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5.00
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06/15/28
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543,356
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465
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San Rafael City Elementary School District, Marin County
Election 2002 Ser B (g)
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0.00
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08/01/25
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185,121
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2,000
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Tobacco Securitization Authority of Northern California, Sacramento County
Tobacco Securitization Corporation Ser 2006 A-1
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5.00
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06/01/37
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1,207,820
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850
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Twin Rivers Unified School District, Ser 2009 (BANs) (g)
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0.00
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04/01/14
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674,424
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1,170
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William S. Hart Union High School District, Los Angeles County
Election 2008 Ser A (g)
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0.00
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08/01/32
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258,125
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PRINCIPAL
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AMOUNT IN
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COUPON
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MATURITY
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THOUSANDS
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RATE
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DATE
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VALUE
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5,725
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William S. Hart Union High School District, Los Angeles County
Election 2008 Ser A (g)
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0.00
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08/01/33
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1,179,980
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46,694,935
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Colorado (2.3%)
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2,590
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Arkansas River Power Authority, Power Ser 2006 (XLCA Insd)
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5.25
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10/01/40
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2,033,176
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2,000
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Colorado Health Facilities Authority, Adventist/Sunbelt Ser 2006 D
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5.25
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11/15/35
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1,865,080
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165
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Public Authority for Colorado Energy, Natural Gas Purchase
Revenue Ser 2008
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6.25
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11/15/28
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159,603
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4,057,859
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Connecticut (0.4%)
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1,500
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Mashantucket (Western) Pequot Tribe, 2006 Ser A
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5.50
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09/01/36
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727,455
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District of Columbia (2.9%)
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2,000
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District of Columbia Ballpark, Ser 2006 B-1 (FGIC Insd)
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5.00
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02/01/31
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1,635,180
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1,540
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District of Columbia Income Tax Ser 2009 A (a)
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5.25
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12/01/27
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1,658,835
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855
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District of Columbia Water & Sewer Authority, Ser 2008 A (AGC Insd)
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5.00
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10/01/25
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904,017
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1,000
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Metropolitan Washington Airport Authority, Airport System
Ser 2009 B (BHAC Insd)
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5.00
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10/01/29
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1,024,780
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5,222,812
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Florida (10.3%)
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25
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Highlands County Health Facilities Authority, Adventist Health/
Sunbelt Ser 2006 C
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5.25
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11/15/16
|
(c)
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29,563
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|
975
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Highlands County Health Facilities Authority, Adventist Health/
Sunbelt Ser 2006 C
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5.25
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11/15/36
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917,114
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|
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1,000
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Lee County Industrial Development Authority, Shell Point Village/
The Alliance Community for Retirement Living Inc, Ser 2006
|
|
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5.125
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11/15/36
|
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622,430
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|
|
1,350
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|
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Miami-Dade County, Educational Facilities Authority, University of Miami
Ser 2008 A (BHAC Insd)
|
|
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5.50
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04/01/38
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1,382,387
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|
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5,000
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Miami-Dade County, Miami Intl Airport Ser 2000 A (AMT) (FGIC Insd)
|
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6.00
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|
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10/01/24
|
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5,043,850
|
|
|
800
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|
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Miami-Dade County, Miami International Airport Ser 2009 A
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5.00
|
|
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10/01/25
|
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805,016
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|
|
1,995
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|
|
Miami-Dade County, Ser 2005 A (NATL-RE Insd)
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|
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0.00
|
(d)
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|
|
10/01/30
|
|
|
|
1,279,334
|
|
|
750
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|
|
Palm Beach County, Solid Waste Authority Ser 2009 (BHAC Insd)
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|
|
5.50
|
|
|
|
10/01/23
|
|
|
|
828,000
|
|
|
4,000
|
|
|
South Miami Health Facilities Authority, Baptist Health South Florida
Ser 2007 (a)
|
|
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5.00
|
|
|
|
08/15/42
|
|
|
|
3,386,608
|
|
|
1,000
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|
|
St Johns County Industrial Development Authority, Glenmoor
Ser 2006 A
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5.25
|
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|
|
01/01/26
|
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|
|
716,110
|
|
|
3,250
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|
|
St Johns, Industrial Development Authority, Glenmoor Refg
2006 Ser A
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|
5.375
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|
|
|
01/01/40
|
|
|
|
2,085,720
|
|
|
1,000
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|
|
Tampa Bay Water Authority, Ser 2001 A (FGIC Insd)
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6.00
|
|
|
|
10/01/29
|
|
|
|
1,156,700
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
18,252,832
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Georgia (6.5%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,000
|
|
|
Atlanta, Airport Ser 2004 J (FSA Insd)
|
|
|
5.00
|
|
|
|
01/01/34
|
|
|
|
5,007,775
|
|
|
1,200
|
|
|
De Kalb County, Water & Sewer Ser 2003 A
|
|
|
5.00
|
|
|
|
10/01/23
|
|
|
|
1,262,364
|
|
|
2,000
|
|
|
Georgia Road & Tollway Authority, Ser 2004
|
|
|
5.00
|
|
|
|
10/01/22
|
|
|
|
2,122,060
|
|
|
3,000
|
|
|
Georgia Road & Tollway Authority, Ser 2004
|
|
|
5.00
|
|
|
|
10/01/23
|
|
|
|
3,171,360
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,563,559
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hawaii (9.3%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,000
|
|
|
Hawaii Department of Budget & Finance, Hawaiian Electric Co Inc
Ser 1993 (AMT) (NATL-RE Insd)
|
|
|
5.45
|
|
|
|
11/01/23
|
|
|
|
4,854,950
|
|
|
3,000
|
|
|
Hawaii, Airports Refg Ser 2000 B (AMT) (FGIC Insd)
|
|
|
6.625
|
|
|
|
07/01/18
|
|
|
|
3,060,720
|
|
|
8,000
|
|
|
Honolulu City & County, Ser 2003A (NATL-RE Insd) (a)
|
|
|
5.25
|
|
|
|
03/01/24
|
|
|
|
8,492,320
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16,407,990
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Illinois (11.7%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,600
|
|
|
Chicago Park District, Harbor Ser A (AMBAC Insd)
|
|
|
5.00
|
|
|
|
01/01/27
|
|
|
|
3,676,860
|
|
|
3,000
|
|
|
Chicago,OHare Intl Airport 3rd Lien Ser 2005 A (NATL-RE Insd)
|
|
|
5.25
|
|
|
|
01/01/26
|
|
|
|
3,040,590
|
|
|
3,000
|
|
|
Chicago,OHare Intl Airport Passenger Fee Ser 2001 A (AMT) (AMBAC Insd)
|
|
|
5.375
|
|
|
|
01/01/32
|
|
|
|
2,672,310
|
|
|
1,070
|
|
|
Chicago, Transit Authority Ser 2008 (AGC Insd)
|
|
|
5.25
|
|
|
|
06/01/23
|
|
|
|
1,146,259
|
|
|
725
|
|
|
De Kalb County, Community Unit School District No. 428 (FSA Insd)
|
|
|
5.00
|
|
|
|
01/01/23
|
|
|
|
773,684
|
|
|
415
|
|
|
Illinois Finance Authority, Rush University Medical Center Obligated Group
Ser 2009 A
|
|
|
7.25
|
|
|
|
11/01/38
|
|
|
|
437,505
|
|
|
965
|
|
|
Illinois Finance Authority, Northwestern Memorial Hospital Ser 2009 B
|
|
|
5.375
|
|
|
|
08/15/24
|
|
|
|
994,809
|
|
|
2,780
|
|
|
Kendall Kane & Will County, Community Unit School District No. 308
(FSA Insd) (g)
|
|
|
0.00
|
|
|
|
02/01/20
|
|
|
|
1,662,468
|
|
|
8,480
|
|
|
Metropolitan Pier & Exposition Authority, McCormick Place Ser 2002 A
(NATL-RE Insd)
|
|
|
0.00
|
(e)
|
|
|
06/15/26
|
|
|
|
6,210,073
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20,614,558
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Indiana (1.8%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,000
|
|
|
Indiana Health & Educational Facility Financing Authority, Clarian Health
Ser 2006 A
|
|
|
5.25
|
|
|
|
02/15/40
|
|
|
|
2,622,510
|
|
|
530
|
|
|
Rockport Indiana Michigan Power Company Project, Refg Ser 2009 B
|
|
|
6.25
|
|
|
|
06/01/25
|
|
|
|
555,323
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,177,833
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Iowa (1.4%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,355
|
|
|
Iowa State LJOBS Program Ser 2009 A
|
|
|
5.00
|
|
|
|
06/01/25
|
|
|
|
1,456,304
|
|
|
1,015
|
|
|
Iowa State LJOBS Program Ser 2009 A
|
|
|
5.00
|
|
|
|
06/01/26
|
|
|
|
1,082,057
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,538,361
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PRINCIPAL
|
|
|
|
|
|
|
|
|
|
|
|
|
AMOUNT IN
|
|
|
|
|
COUPON
|
|
|
MATURITY
|
|
|
|
|
THOUSANDS
|
|
|
|
|
RATE
|
|
|
DATE
|
|
|
VALUE
|
|
|
|
|
|
Kansas (0.3%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
470
|
|
|
Kansas Development Finance Authority, Adventist Health System
Sunbelt Obligated Group Ser 2009 C
|
|
|
5.50
|
|
|
|
11/15/29
|
|
|
|
474,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maine (0.0%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
60
|
|
|
Maine Health & Higher Educational Facilities Authority, Ser 1993 D
(FSA Insd)
|
|
|
5.50
|
|
|
|
07/01/18
|
|
|
|
60,097
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maryland (2.8%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
705
|
|
|
Baltimore County, Oak Crest Village Ser 2007 A
|
|
|
5.00
|
|
|
|
01/01/37
|
|
|
|
607,322
|
|
|
1,440
|
|
|
Maryland Health & Higher Educational Facilities Authority, King Farm
Presbyterian Community 2006 Ser B
|
|
|
5.00
|
|
|
|
01/01/17
|
|
|
|
1,207,786
|
|
|
3,000
|
|
|
Northeast Maryland Waste Disposal Authority, Montgomery County
Ser 2003 (AMT) (AMBAC Insd)
|
|
|
5.50
|
|
|
|
04/01/16
|
|
|
|
3,137,310
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,952,418
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Massachusetts (2.9%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,850
|
|
|
Massachusetts Health and Educational Facilities Authority, Harvard
University Ser 2009 A (a)
|
|
|
5.50
|
|
|
|
11/15/36
|
|
|
|
5,225,665
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Michigan (1.0%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
900
|
|
|
Detroit Water Supply System, Refg Ser 2006 C (FSA Insd)
|
|
|
5.00
|
|
|
|
07/01/26
|
|
|
|
877,896
|
|
|
1,100
|
|
|
Michigan Hospital Finance Authority, Henry Ford Health Refg Ser 2006 A
|
|
|
5.25
|
|
|
|
11/15/46
|
|
|
|
850,316
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,728,212
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Missouri (2.5%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,000
|
|
|
Missouri Health & Educational Facilities Authority, Barnes-Jewish /
Christian Health Ser 1993 A
|
|
|
5.25
|
|
|
|
05/15/14
|
|
|
|
4,353,040
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nebraska (2.4%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,240
|
|
|
Nebraska Public Power District, 2003 Ser A (AMBAC Insd)
|
|
|
5.00
|
|
|
|
01/01/35
|
|
|
|
4,185,728
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nevada (1.9%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,000
|
|
|
Clark County, Airport SubLien Ser 2004 (AMT) (FGIC Insd)
|
|
|
5.50
|
|
|
|
07/01/20
|
|
|
|
2,985,270
|
|
|
410
|
|
|
Las Vegas Redevelopment Agency, Tax Increment Ser 2009 A
|
|
|
6.25
|
|
|
|
06/15/16
|
|
|
|
434,096
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,419,366
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Hampshire (0.8%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,500
|
|
|
Manchester, Water Works Ser 2003 (FGIC Insd)
|
|
|
5.00
|
|
|
|
12/01/34
|
|
|
|
1,506,855
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Jersey (2.8%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,500
|
|
|
New Jersey Economic Development Authority, Seabrook Village Inc
Ser 2006
|
|
|
5.25
|
|
|
|
11/15/36
|
|
|
|
1,054,230
|
|
|
4,300
|
|
|
New Jersey Transportation Trust Fund Authority, Transportation System
2006 Ser C (AGC Insd) (g)
|
|
|
0.00
|
|
|
|
12/15/26
|
|
|
|
1,618,047
|
|
|
3,000
|
|
|
Tobacco Settlement Financing Corporation, Ser 2007-1A
|
|
|
4.625
|
|
|
|
06/01/26
|
|
|
|
2,078,430
|
|
|
3,000
|
|
|
Tobacco Settlement Financing Corporation, Ser 2007-1B (g)
|
|
|
0.00
|
|
|
|
06/01/41
|
|
|
|
131,880
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,882,587
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Mexico (0.6%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
940
|
|
|
New Mexico Finance Authority, Ser A
|
|
|
5.00
|
|
|
|
06/01/27
|
|
|
|
982,253
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New York (13.7%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,000
|
|
|
Metropolitan Transportation Authority, Transportation Ser 2003 B
(NATL-RE Insd)
|
|
|
5.25
|
|
|
|
11/15/22
|
|
|
|
5,079,300
|
|
|
980
|
|
|
New York City, 2009 Subser A-1 (a)
|
|
|
5.25
|
|
|
|
08/15/27
|
|
|
|
1,020,509
|
|
|
980
|
|
|
New York City, 2009 Subser A-1 (a)
|
|
|
5.25
|
|
|
|
08/15/28
|
|
|
|
1,020,509
|
|
|
13,505
|
|
|
New York City Transitional Finance Authority, 2010 Subser A-1 (a)
|
|
|
5.00
|
|
|
|
05/01/28
|
|
|
|
1,348,558
|
|
|
1,045
|
|
|
New York City Transitional Finance Authority, 2010 Subser A-1 (a)
|
|
|
5.00
|
|
|
|
05/01/29
|
|
|
|
1,079,880
|
|
|
1,045
|
|
|
New York City Transitional Finance Authority, 2010 Subser A-1 (a)
|
|
|
5.00
|
|
|
|
05/01/30
|
|
|
|
1,079,880
|
|
|
1,950
|
|
|
New York City Trust for Cultural Resources, Museum of
Modern Art Refg Ser 2008 1A (a)
|
|
|
5.00
|
|
|
|
04/01/28
|
|
|
|
2,054,785
|
|
|
705
|
|
|
New York State Dormitory Authority, Court Facilities Lease Ser 2005 A
|
|
|
5.50
|
|
|
|
05/15/29
|
|
|
|
741,632
|
|
|
1,310
|
|
|
New York State Thruway Authority, State Personal Income Tax Ser 2009 A
|
|
|
5.00
|
|
|
|
03/15/25
|
|
|
|
1,390,919
|
|
|
6,000
|
|
|
Tobacco Settlement Financing Corporation, State Contingency
Ser 2003 B-1C
|
|
|
5.50
|
|
|
|
06/01/21
|
|
|
|
6,232,440
|
|
|
3,000
|
|
|
Triborough Bridge & Tunnel Authority, Refg Ser 2002 B
|
|
|
5.25
|
|
|
|
11/15/19
|
|
|
|
3,276,600
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24,325,012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ohio (3.7%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,000
|
|
|
American Municipal Power Ohio, Inc., Prairie State Energy Campus
Ser 2008 A (AGC Insd) (a)
|
|
|
5.25
|
|
|
|
02/15/33
|
|
|
|
1,015,182
|
|
|
5,000
|
|
|
Cuyahoga County, Cleveland Clinic Ser 2003 A
|
|
|
6.00
|
|
|
|
01/01/32
|
|
|
|
5,206,250
|
|
|
265
|
|
|
Ohio State Water Development Authority 2009 Ser A
|
|
|
5.875
|
|
|
|
06/01/33
|
|
|
|
275,666
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,497,098
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pennsylvania (1.6%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,000
|
|
|
Allegheny County Redevelopment Authority, West Penn Allegheny Health
Ser 2007 A
|
|
|
5.375
|
|
|
|
11/15/40
|
|
|
|
1,205,380
|
|
|
1,500
|
|
|
Philadelphia School District, Ser 2008 E (BHAC Insd)
|
|
|
5.125
|
|
|
|
09/01/23
|
|
|
|
1,616,865
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,822,245
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PRINCIPAL
|
|
|
|
|
|
|
|
|
|
|
|
|
AMOUNT IN
|
|
|
|
|
COUPON
|
|
|
MATURITY
|
|
|
|
|
THOUSANDS
|
|
|
|
|
RATE
|
|
|
DATE
|
|
|
VALUE
|
|
|
|
|
|
Puerto Rico (0.5%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
875
|
|
|
Puerto Rico, Sales Tax Financing 2009 Subser A
|
|
|
5.00
|
|
|
|
08/01/39
|
|
|
|
889,971
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rhode Island (0.8%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,500
|
|
|
Rhode Island Economic Development Corporation, Airport Refg Ser 2004 A
(AMT) (FSA Insd)
|
|
|
5.00
|
|
|
|
07/01/21
|
|
|
|
1,458,615
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
South Carolina (6.9%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,000
|
|
|
Charleston Educational Excellence Financing Corporation, Charleston
County School District Ser 2005
|
|
|
5.25
|
|
|
|
12/01/29
|
|
|
|
2,026,720
|
|
|
4,565
|
|
|
Grand Strand Water & Sewer Authority, Refg Ser 2002 (FSA Insd)
|
|
|
5.375
|
|
|
|
06/01/19
|
|
|
|
4,878,250
|
|
|
40
|
|
|
Lexington County, Health Services District, Lexmed Inc, Ser 2007 A
|
|
|
5.00
|
|
|
|
11/01/16
|
|
|
|
41,820
|
|
|
210
|
|
|
Richland County Environmental Improvement Revenue, International
Paper Company Ser 2007 A
|
|
|
4.60
|
|
|
|
09/01/12
|
|
|
|
205,714
|
|
|
4,000
|
|
|
South Carolina Public Service Authority, Santee Cooper Ser 2003 A
(AMBAC Insd) (a)
|
|
|
5.00
|
|
|
|
01/01/27
|
|
|
|
4,106,542
|
|
|
1,000
|
|
|
South Carolina Public Transportation Infrastructure Bank Ser 2002 A
(AMBAC Insd)
|
|
|
5.25
|
|
|
|
10/01/22
|
|
|
|
1,022,790
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12,281,836
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tennessee (0.6%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,040
|
|
|
Tennessee Energy Acquisition Corporation, Ser 2006 A
|
|
|
5.25
|
|
|
|
09/01/19
|
|
|
|
999,263
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,000
|
|
|
Alliance Airport Authority, Federal Express Corp Refg Ser 2006 (AMT)
|
|
|
4.85
|
|
|
|
04/01/21
|
|
|
|
1,708,060
|
|
|
1,500
|
|
|
Arlington City, Special Tax Ser 2009
|
|
|
5.00
|
|
|
|
08/15/28
|
|
|
|
1,476,450
|
|
|
1,360
|
|
|
Austin, Water & Sewer, ROLS RRII R-574
|
|
|
9.627
|
(f)
|
|
|
05/15/27
|
|
|
|
1,412,578
|
|
|
575
|
|
|
Friendswood, Independent School District (PSF Insd)
|
|
|
5.00
|
|
|
|
02/15/25
|
|
|
|
617,056
|
|
|
1,360
|
|
|
Harris County Health Facilities Development Corp,TECO Project,
Ser 2008 (AGC Insd)
|
|
|
5.25
|
|
|
|
11/15/23
|
|
|
|
1,375,844
|
|
|
1,530
|
|
|
Harris County, Toll Road Unlimited Tax Ser 2007 C
|
|
|
5.25
|
|
|
|
08/15/31
|
|
|
|
1,669,046
|
|
|
2,350
|
|
|
Houston, Hotel Occupancy Ser B (g)
|
|
|
0.00
|
|
|
|
09/01/25
|
|
|
|
888,488
|
|
|
5,000
|
|
|
Houston, Combined Utility First Lien Refg 2004 Ser A (NATL-RE Insd)
|
|
|
5.25
|
|
|
|
05/15/25
|
|
|
|
5,157,400
|
|
|
5,200
|
|
|
North Texas Tollway Authority Refg First Tier Ser 2008 D (g)
|
|
|
0.00
|
|
|
|
01/01/28
|
|
|
|
1,710,332
|
|
|
1,065
|
|
|
North Texas Tollway Authority Refg First Tier Ser 2008 D (g)
|
|
|
0.00
|
|
|
|
01/01/31
|
|
|
|
282,108
|
|
|
1,000
|
|
|
Tarrant County Cultural Educational Facilities Finance Corp,
Air Force Village II Inc Ser 2007
|
|
|
5.125
|
|
|
|
05/15/37
|
|
|
|
719,650
|
|
|
4,000
|
|
|
Tarrant County Regional Water District, Refg & Impr Ser 2002 (FSA Insd)
|
|
|
5.25
|
|
|
|
03/01/17
|
|
|
|
4,411,120
|
|
|
1,665
|
|
|
Texas A&M University System Health Science Center,, Financing System
Ser 2009 A
|
|
|
5.00
|
|
|
|
05/15/26
|
|
|
|
1,795,869
|
|
|
325
|
|
|
Texas Municipal Gas Aqusition & Supply Corp., Gas Supply Revenue
Senior Lien Series 2008 D
|
|
|
6.25
|
|
|
|
12/15/26
|
|
|
|
314,288
|
|
|
335
|
|
|
University of Houston System Refg Ser 2008
(FSA Insd) (a)
|
|
|
5.00
|
|
|
|
02/15/33
|
|
|
|
1,006,931
|
|
|
3,000
|
|
|
West Harris County Regional Water Authority, Water Ser 2005 (FSA Insd)
|
|
|
5.00
|
|
|
|
12/15/24
|
|
|
|
3,040,710
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
27,585,930
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Utah (1.5%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,500
|
|
|
Intermountain Power Agency, 2003 Ser A (FSA Insd)
|
|
|
5.00
|
|
|
|
07/01/21
|
|
|
|
2,652,625
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Virginia (10.1%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,250
|
|
|
Fairfax County Economic Development Authority,Goodwin House Inc
Ser 2007
|
|
|
5.125
|
|
|
|
10/01/42
|
|
|
|
953,100
|
|
|
10,000
|
|
|
Fairfax County Industrial Development Authority, Inova Health Refg
Ser 1993 A
|
|
|
5.25
|
|
|
|
08/15/19
|
|
|
|
10,695,300
|
|
|
4,000
|
|
|
Norfolk, Water Ser 1993 (AMBAC Insd)
|
|
|
5.375
|
|
|
|
11/01/23
|
|
|
|
4,000,640
|
|
|
2,000
|
|
|
Prince William County Service Authority, Water & Sewer Refg Ser 2003
|
|
|
5.00
|
|
|
|
07/01/21
|
|
|
|
2,152,180
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17,801,220
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Washington (5.7%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,705
|
|
|
Grant County Public Utility District #2, Wanapum Hydroelectric 2005 Ser A
(FGIC Insd)
|
|
|
5.00
|
|
|
|
01/01/34
|
|
|
|
1,654,634
|
|
|
3,450
|
|
|
Port of Seattle,Passenger Facility Ser 1998 A (NATL-RE Insd)
|
|
|
5.00
|
|
|
|
12/01/23
|
|
|
|
3,414,983
|
|
|
2,380
|
|
|
Washington State, Various Purpose Ser 2010 A (a)
|
|
|
5.00
|
|
|
|
08/01/29
|
|
|
|
2,482,740
|
|
|
2,500
|
|
|
Washington State, Various Purpose Ser 2010 A (a)
|
|
|
5.00
|
|
|
|
08/01/30
|
|
|
|
2,607,921
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,160,278
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Wisconsin (0.6%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,000
|
|
|
Wisconsin, 2009 Ser A
|
|
|
5.625
|
|
|
|
05/01/28
|
|
|
|
1,079,730
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Tax-Exempt Municipal Bonds
(Cost $285,097,219)
|
|
|
|
|
|
|
|
|
|
|
278,618,681
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NUMBER OF
|
|
|
|
|
|
|
|
|
|
|
|
|
SHARES (000)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-Term Investment (i) (2.0%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Company
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,530
|
|
|
Morgan Stanley Institutional Liquidity Funds Tax-Exempt Portfolio
Institutional Class
(Cost $3,529,731)
|
|
|
|
|
|
|
|
|
|
|
3,529,731
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments
(Cost $288,626,950) (k) (j)
|
|
|
159.4
|
%
|
|
|
|
|
|
|
282,148,412
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Assets in Excess of Liabilities
|
|
|
1.5
|
|
|
|
|
|
|
|
2,705,207
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floating Rate Note Obligations Related to Securities Held
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes with interest rates ranging from 0.32% to 0.91% at July 31, 2009 and
contractual maturities of collateral ranging from 06/01/17 to 08/15/42 (h)
(Cost $(35,442,000))
|
|
|
(20.0
|
)
|
|
|
|
|
|
|
(35,442,000
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred Shares of Beneficial Interest
|
|
|
(40.9
|
)
|
|
|
|
|
|
|
(72,450,000
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets Applicable to Common Shareholders
|
|
|
100.0
|
%
|
|
|
|
|
|
$
|
176,961,619
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note:
|
|
The categories of investments are shown as a percentage of net assets applicable to common shareholders.
|
|
AMT
|
|
Alternative Minimum Tax.
|
|
COPs
|
|
Certificates of Participation.
|
|
ROLS
|
|
Reset Option Longs.
|
|
(a)
|
|
Floating rate note and dealer trusts obligations related to securities held The Trust enters into transactions in
which it transfers to Dealer Trusts (Dealer Trusts), fixed rate bonds in exchange for cash and residual
interests in the Dealer Trusts assets and cash flows, which are in the form of inverse floating rate investments.
The Dealer Trusts fund the purchases of the fixed rate bonds by issuing floating rate notes to third parties
and allowing the Trust to retain residual interest in the bonds. The Trust enters into shortfall agreements
with the Dealer Trusts which commit the Trust to pay the Dealer Trusts, in certain circumstances,
the difference between the liquidation value of the fixed rate bonds held by the Dealer Trusts and the
liquidation value of the floating rate notes held by third parties, as well as any shortfalls in interest cash flows.
The residual interests held by the Trust (inverse floating rate investments) include the right of the Fund (1)
to cause the holders of the floating rate notes to tender their notes at par at the next interest rate reset date,
and (2) to transfer the municipal bond from the Dealer Trusts to the Trust, thereby collapsing the Dealer Trusts.
The Trust accounts for the transfer of bonds to the Dealer Trusts as secured borrowings, with the securities
transferred remaining in the Trusts investment assets, and the related floating rate notes reflected as Trust
liabilities. The notes issued by the Dealer Trusts have interest rates that reset weekly and the floating rate
note holders have the option to tender their notes to the Dealer Trusts for redemption at par at each reset date.
At July 31, 2009, Trust investments with a value of $56,430,685 are held by the Dealer Trusts
and serve as collateral for the $35,442,000 in floating rate note obligations outstanding at that date.
|
|
(b)
|
|
A portion of this security has been physically segregated in connection with open futures contracts.
|
|
(c)
|
|
Prerefunded to call date shown.
|
|
(d)
|
|
Currently a zero coupon security, will convert to 5.00% on October 1, 2013.
|
|
(e)
|
|
Currently a zero coupon security, will convert to 5.75% on June 15, 2017.
|
|
(f)
|
|
Current coupon rate for inverse floating rate municipal obligation. This rate resets periodically as the auction rate on the
related security changes. Positions in inverse floating rate municipal obligation has a total value of $1,412,578 which
represents 0.8% of net assets applicable to common shareholders.
|
|
(g)
|
|
Capital Appreciation Bond.
|
|
(h)
|
|
Floating rate note obligations related to securities held. The interest rates shown reflect the rates in effect at
July 31, 2009.
|
|
(i)
|
|
The Fund invests in Morgan Stanley Institutional Liquidity Funds Tax-Exempt Portfolio Institutional
Class, an open-end management investment company managed by the Investment Adviser.
Investment Advisory fees paid by the Fund are reduced by an amount equal to the advisory and
administrative service fees paid by Morgan Stanley Institutional Liquidity Funds Tax-Exempt
Portfolio Institutional Class with respect to assets invested by the Fund in Morgan Stanley
Institutional Liquidity Funds Tax-Exempt Portfolio Institutional Class .
(j) Securities have been designated as collateral in connection with open futures and when issued securities.
|
|
(k)
|
|
The aggregate cost for federal income tax purposes approximates the aggregate cost for book purposes.
|
|
Bond Insurance:
|
|
AGC
|
|
Assured Guaranty Corporation.
|
AMBAC
|
|
AMBAC Assurance Corporation.
|
BHAC
|
|
Berkshire Hathaway Assurance Corporation.
|
FGIC
|
|
Financial Guaranty Insurance Company.
|
FSA
|
|
Financial Security Assurance Inc.
|
NATL-RE
|
|
National Public Finance Guarantee Corporation.
|
PSF
|
|
Texas Permanent School Fund Guarantee Program.
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XLCA
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XL Capital Assurance Inc.
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Morgan Stanley Quality Municipal Securities
Futures Contracts Open at July 31, 2009:
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UNREALIZED
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NUMBER OF
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DESCRIPTION, DELIVERY
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UNDERLYING FACE
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APPRECIATION/
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CONTRACTS
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LONG/SHORT
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MONTH AND YEAR
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AMOUNT AT VALUE
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(DEPRECIATION)
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62
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Long
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U.S. Treasury Bond 2 Year
September 2009
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$
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13,427,843
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$
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21,638
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22
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Long
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U.S. Treasury Notes 10 Year
September 2009
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2,580,188
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(13,659
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)
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14
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Long
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U.S. Treasury Notes 5 Year
September 2009
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1,615,359
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8,562
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173
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Short
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U.S. Treasury Notes 20 Year
September 2009
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(20,587,000
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)
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(465,399
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)
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Net Unrealized Depreciation
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$
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(448,858
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)
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Morgan Stanley Quality Municipal Securities
Notes to the Portfolio of Investments
SFAS 157 Disclosure
7/31/2009
The Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157,
Fair Value Measurements
(SFAS 157),
effective November 1, 2008. In accordance with SFAS 157, fair value is defined as the price that the Fund would receive to sell an investment or
pay to transfer a liability in a timely transaction with an independent buyer in the principal market, or in the absence of a principal market the
most advantageous market for the investment or liability. SFAS 157 establishes a three-tier hierarchy to distinguish between (1) inputs that
reflect the assumptions market participants would use in pricing an asset or liability developed based on market data obtained from sources
independent of the reporting entity (observable inputs) and (2) inputs that reflect the reporting entitys own assumptions about the assumptions
market participants would use in pricing an asset or liability developed based on the best information available in the circumstances (unobservable
inputs) and to establish classification of fair value measurements for disclosure purposes. Various inputs are used in determining the value of
the Funds investments. The inputs are summarized in the three broad levels listed below.
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Level 1 unadjusted quoted prices in active markets for identical investments
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Level 2 other significant observable inputs (including quoted prices for similar
investments, interest rates, prepayment speeds, credit risk, etc.)
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Level 3 significant unobservable inputs (including the Funds own assumptions
in determining the fair value of investments)
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The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities
and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers
factors specific to each security.
The following is a summary of the inputs used as of July 31, 2009 in valuing the Funds investments carried at value:
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Fair Value Measurements at July 31, 2009 Using
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Unadjusted
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Quoted Prices In
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Significant
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Significant
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Active Market for
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Other Observable
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Unobservable
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Identical Investments
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Inputs
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Inputs
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Investment Type
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Total
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(Level 1)
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(Level 2)
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(Level 3)
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Assets
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Tax-Exempt Municipal Bonds
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$
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278,618,681
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$
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278,618,681
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Short-Term Investment Investment Company
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3,529,731
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$
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3,529,731
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Futures
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30,200
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30,200
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Total
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$
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282,178,612
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$
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3,559,931
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$
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278,618,681
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Liabilities
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Futures
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($479,058
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)
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($479,058
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)
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Valuation of Investments
(1) portfolio securities are valued by an outside independent
pricing service approved by the Trustees. The pricing service uses both a computerized
grid matrix of tax-exempt securities and and evaluations by its staff, in each case based on
information concerning market transactions and quotations from dealers which reflect the mean
between the last reported bid and asked price. The portfolio securities are thus valued by
reference to a combination of transactions and quotations for the same or other securities believed
to be comparable in quality, coupon, maturity, type of issue, call provisions, trading
characteristics and other features deemed to be relevant. The Trustees believe that timely and
reliable market quotations are generally not readily available for purposes of valuing tax-exempt
securities and that the valuations supplied by the pricing service are more likely to approximate
the fair value of such securities; (2) futures are valued at the latest sale price on the
commodities exchange on which they trade unless it is determined that such price does not reflect
their market value, in which case they will be valued at their fair value as determined in good
faith under procedures established by and under the supervision of the Trustees; (3) interest rate
swaps are marked-to-market daily based upon quotations from market makers; (4) investments in
open-end mutual funds, including the Morgan Stanley Institutional Liquidity Funds, are valued at
the net asset value as of the close of each business day; and (5) short-term debt securities having
a maturity date of more than sixty days at time of purchase are valued on a mark-to-market basis
until sixty days prior to maturity and thereafter at amortized cost based on their value on the
61st day. Short-term debt securities having a maturity date of sixty days or less at the time of
purchase are valued at amortized cost, which approximates market value.
Item 2. Controls and Procedures.
(a) The Trusts principal executive officer and principal financial officer have concluded that the
Trusts disclosure controls and procedures are sufficient to ensure that information required to be
disclosed by the Trusts in this Form N-Q was recorded, processed, summarized and reported within
the time periods specified in the Securities and Exchange Commissions rules and forms, based upon
such officers evaluation of these controls and procedures as of a date within 90 days of the
filing date of the report.
(b) There were no changes in the Trusts internal control over financial reporting that occurred
during the registrants fiscal quarter that has materially affected, or is reasonably likely to
materially affect, the Trusts internal control over financial reporting.
Item 3. Exhibits.
(a) A separate certification for each principal executive officer and principal financial officer
of the registrant are attached hereto.
2
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.
Morgan Stanley Quality Municipal Securities
/s/ Randy Takian
Randy Takian
Principal Executive Officer
September 17, 2009
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company
Act of 1940, this report has been signed by the following persons on behalf of the registrant and
in the capacities and on the dates indicated.
/s/ Randy Takian
Randy Takian
Principal Executive Officer
September 17, 2009
/s/ Francis Smith
Francis Smith
Principal Financial Officer
September 17, 2009
3
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