|
|
|
|
|
|
|
|
Portfolio of Investments (Unaudited)
|
|
|
|
|
|
Nuveen California Municipal Market Opportunity Fund, Inc. (NCO)
|
|
|
|
|
|
May 31, 2012
|
|
|
|
|
|
Principal
|
|
|
Optional Call
|
|
|
Amount (000)
|
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|
|
Consumer Staples – 6.5% (4.7% of Total Investments)
|
|
|
|
2,500
|
|
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los
|
12/18 at 100.00
|
BBB–
|
$ 2,046,175
|
|
|
Angeles County Securitization Corporation, Series 2006A, 5.600%, 6/01/36
|
|
|
|
295
|
|
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Sonoma
|
6/15 at 100.00
|
BB+
|
285,560
|
|
|
County Tobacco Securitization Corporation, Series 2005, 4.250%, 6/01/21
|
|
|
|
6,440
|
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
|
6/17 at 100.00
|
BB–
|
5,163,592
|
|
|
Bonds, Series 2007A-1, 5.750%, 6/01/47
|
|
|
|
1,150
|
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
|
6/22 at 100.00
|
BB–
|
860,235
|
|
|
Bonds, Series 2007A-2, 0.000%, 6/01/37
|
|
|
|
10,385
|
|
Total Consumer Staples
|
|
|
8,355,562
|
|
|
Education and Civic Organizations – 4.7% (3.4% of Total Investments)
|
|
|
|
100
|
|
California Educational Facilities Authority, Revenue Bonds, University of Redlands, Series
|
10/15 at 100.00
|
A3
|
102,599
|
|
|
2005A, 5.000%, 10/01/35
|
|
|
|
|
|
California Educational Facilities Authority, Revenue Bonds, University of the Pacific,
|
|
|
|
|
|
Series 2006:
|
|
|
|
70
|
|
5.000%, 11/01/21
|
11/15 at 100.00
|
A2
|
75,234
|
95
|
|
5.000%, 11/01/25
|
11/15 at 100.00
|
A2
|
100,532
|
1,000
|
|
California Infrastructure and Economic Development Bond Bank, Revenue Bonds, Scripps Research
|
7/15 at 100.00
|
Aa3
|
1,077,120
|
|
|
Institute, Series 2005A, 5.000%, 7/01/24
|
|
|
|
1,680
|
|
California State Public Works Board, Lease Revenue Bonds, University of California Regents,
|
3/18 at 100.00
|
Aa2
|
1,944,802
|
|
|
Tender Option Bond Trust 1065, 9.071%, 3/01/33 (IF)
|
|
|
|
450
|
|
California Statewide Communities Development Authority, School Facility Revenue Bonds,
|
7/21 at 100.00
|
BBB
|
486,693
|
|
|
Alliance College-Ready Public Schools, Series 2011A, 7.000%, 7/01/46
|
|
|
|
260
|
|
California Statewide Communitities Development Authority, Charter School Revenue Bonds,
|
12/21 at 100.00
|
N/R
|
278,902
|
|
|
Rocketship 4 – Mosaic Elementary Charter School, Series 2011A, 8.500%, 12/01/41
|
|
|
|
2,000
|
|
San Diego County, California, Certificates of Participation, Burnham Institute, Series 2006,
|
9/15 at 102.00
|
Baa3
|
2,021,000
|
|
|
5.000%, 9/01/34
|
|
|
|
5,655
|
|
Total Education and Civic Organizations
|
|
|
6,086,882
|
|
|
Health Care – 26.5% (19.3% of Total Investments)
|
|
|
|
5,260
|
|
California Health Facilities Financing Authority, Revenue Bonds, Childrens Hospital Los
|
7/20 at 100.00
|
AA–
|
5,555,665
|
|
|
Angeles, Series 2010A, 5.250%, 7/01/38 – AGC Insured
|
|
|
|
515
|
|
California Health Facilities Financing Authority, Revenue Bonds, Rady Children’s Hospital –
|
8/21 at 100.00
|
A+
|
546,008
|
|
|
San Diego, Series 2011, 5.250%, 8/15/41
|
|
|
|
5,305
|
|
California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2007A,
|
11/16 at 100.00
|
AA–
|
5,589,242
|
|
|
5.250%, 11/15/46 (UB)
|
|
|
|
1,060
|
|
California Municipal Financing Authority, Certificates of Participation, Community Hospitals
|
2/17 at 100.00
|
BBB
|
1,074,575
|
|
|
of Central California, Series 2007, 5.250%, 2/01/46
|
|
|
|
2,000
|
|
California Statewide Communities Development Authority, Revenue Bonds, Adventist Health System
|
3/15 at 100.00
|
A
|
2,060,140
|
|
|
West, Series 2005A, 5.000%, 3/01/35
|
|
|
|
569
|
|
California Statewide Communities Development Authority, Revenue Bonds, Saint Joseph Health
|
7/18 at 100.00
|
AA–
|
754,107
|
|
|
System, Trust 2554, 18.352%, 7/01/47 – AGM Insured (IF)
|
|
|
|
1,160
|
|
California Statewide Communities Development Authority, Revenue Bonds, ValleyCare Health
|
7/17 at 100.00
|
N/R
|
1,171,530
|
|
|
System, Series 2007A, 5.125%, 7/15/31
|
|
|
|
|
|
California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity
|
|
|
|
|
|
Health System, Series 2005A:
|
|
|
|
1,500
|
|
5.250%, 7/01/24
|
7/15 at 100.00
|
BBB
|
1,567,560
|
1,000
|
|
5.250%, 7/01/30
|
7/15 at 100.00
|
BBB
|
1,017,730
|
135
|
|
California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System,
|
8/16 at 100.00
|
A+
|
149,718
|
|
|
Series 2001C, 5.250%, 8/01/31
|
|
|
|
675
|
|
California Statewide Community Development Authority, Revenue Bonds, Sherman Oaks Health
|
No Opt. Call
|
A1
|
747,428
|
|
|
System, Series 1998A, 5.000%, 8/01/22 – AMBAC Insured
|
|
|
|
2,585
|
|
California Statewide Community Development Authority, Revenue Bonds, Sutter Health, Series
|
11/15 at 100.00
|
AA–
|
2,666,350
|
|
|
2005A, 5.000%, 11/15/43
|
|
|
|
1,000
|
|
Loma Linda, California, Hospital Revenue Bonds, Loma Linda University Medical Center, Series
|
12/15 at 100.00
|
BBB
|
1,007,400
|
|
|
2005A, 5.000%, 12/01/23
|
|
|
|
1,150
|
|
Loma Linda, California, Hospital Revenue Bonds, Loma Linda University Medical Center, Series
|
12/17 at 100.00
|
BBB
|
1,317,406
|
|
|
2008A, 8.250%, 12/01/38
|
|
|
|
2,205
|
|
Madera County, California, Certificates of Participation, Children’s Hospital Central
|
3/20 at 100.00
|
A+
|
2,320,807
|
|
|
California, Series 2010, 5.375%, 3/15/36
|
|
|
|
1,800
|
|
Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010,
|
11/20 at 100.00
|
Baa3
|
1,896,426
|
|
|
6.000%, 11/01/41
|
|
|
|
1,000
|
|
Rancho Mirage Joint Powers Financing Authority, California, Revenue Bonds, Eisenhower Medical
|
7/17 at 100.00
|
Baa2
|
1,007,320
|
|
|
Center, Series 2007A, 5.000%, 7/01/38
|
|
|
|
1,200
|
|
San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series 2011,
|
12/21 at 100.00
|
BB
|
1,425,684
|
|
|
7.500%, 12/01/41
|
|
|
|
1,250
|
|
Santa Clara County Financing Authority, California, Insured Revenue Bonds, El Camino Hospital,
|
8/17 at 100.00
|
A+
|
1,344,175
|
|
|
Series 2007A, 5.750%, 2/01/41 – AMBAC Insured
|
|
|
|
1,000
|
|
The Regents of the University of California, Medical Center Pooled Revenue Bonds, Series
|
5/17 at 101.00
|
Aa2
|
1,064,590
|
|
|
2009E, 5.000%, 5/15/38
|
|
|
|
32,369
|
|
Total Health Care
|
|
|
34,283,861
|
|
|
Housing/Multifamily – 1.9% (1.4% of Total Investments)
|
|
|
|
695
|
|
California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects
|
8/20 at 100.00
|
BBB
|
756,257
|
|
|
Series 2010A, 6.400%, 8/15/45
|
|
|
|
1,665
|
|
California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects
|
8/22 at 100.00
|
BBB
|
1,721,727
|
|
|
Series 2012A, 5.125%, 8/15/32
|
|
|
|
2,360
|
|
Total Housing/Multifamily
|
|
|
2,477,984
|
|
|
Housing/Single Family – 0.4% (0.3% of Total Investments)
|
|
|
|
315
|
|
California Department of Veteran Affairs, Home Purchase Revenue Bonds, Series 2007B, 5.150%,
|
12/16 at 100.00
|
AA
|
329,651
|
|
|
12/01/27 (Alternative Minimum Tax)
|
|
|
|
130
|
|
California Housing Finance Agency, Home Mortgage Revenue Bonds, Series 2006H, 5.750%,
|
2/16 at 100.00
|
BBB
|
135,450
|
|
|
8/01/30 – FGIC Insured (Alternative Minimum Tax)
|
|
|
|
445
|
|
Total Housing/Single Family
|
|
|
465,101
|
|
|
Long-Term Care – 3.4% (2.4% of Total Investments)
|
|
|
|
4,000
|
|
ABAG Finance Authority for Non-Profit Corporations, California, Cal-Mortgage Insured Revenue
|
5/20 at 100.00
|
A–
|
4,362,120
|
|
|
Bonds, Channing House, Series 2010, 6.125%, 5/15/40
|
|
|
|
|
|
Tax Obligation/General – 20.6% (15.0% of Total Investments)
|
|
|
|
4,125
|
|
Alameda Unified School District, Alameda County, California, General Obligation Bonds, Series
|
No Opt. Call
|
Aa2
|
2,429,295
|
|
|
2004A, 0.000%, 8/01/25 – AGM Insured
|
|
|
|
2,000
|
|
California State, General Obligation Bonds, Various Purpose Series 2009, 6.000%, 11/01/39
|
11/19 at 100.00
|
A1
|
2,359,100
|
1,000
|
|
California State, General Obligation Bonds, Various Purpose Series 2011, 5.000%, 10/01/41
|
10/21 at 100.00
|
A1
|
1,075,180
|
2,500
|
|
California State, Various Purpose General Obligation Refunding Bonds, Series 2012,
|
4/22 at 100.00
|
A1
|
2,694,100
|
|
|
5.000%, 4/01/42
|
|
|
|
1,350
|
|
Coachella Valley Unified School District, Riverside County, California, General Obligation
|
8/15 at 100.00
|
A1
|
1,422,360
|
|
|
Bonds, Series 2005A, 5.000%, 8/01/30 – FGIC Insured
|
|
|
|
4,100
|
|
Monrovia Unified School District, Los Angeles County, California, General Obligation Bonds,
|
No Opt. Call
|
Aa3
|
2,013,223
|
|
|
Series 2001B, 0.000%, 8/01/27 – FGIC Insured
|
|
|
|
2,500
|
|
Oakland Unified School District, Alameda County, California, General Obligation Bonds, Series
|
8/12 at 100.00
|
BBB
|
2,514,825
|
|
|
2002, 5.250%, 8/01/21 – FGIC Insured
|
|
|
|
25
|
|
Riverside Community College District, California, General Obligation Bonds, Series 2004A,
|
8/14 at 100.00
|
AA
|
27,122
|
|
|
5.250%, 8/01/24 – NPFG Insured
|
|
|
|
210
|
|
Roseville Joint Union High School District, Placer County, California, General Obligation
|
8/15 at 100.00
|
AA+
|
230,011
|
|
|
Bonds, Series 2006B, 5.000%, 8/01/27 – FGIC Insured
|
|
|
|
4,970
|
|
San Rafael City High School District, Marin County, California, General Obligation Bonds,
|
No Opt. Call
|
AA+
|
2,566,607
|
|
|
Series 2004B, 0.000%, 8/01/27 – FGIC Insured
|
|
|
|
4,175
|
|
Southwestern Community College District, San Diego County, California, General Obligation
|
No Opt. Call
|
Aa2
|
2,380,710
|
|
|
Bonds, Series 2004, 0.000%, 8/01/25 – FGIC Insured
|
|
|
|
9,850
|
|
Sylvan Union School District, Stanislaus County, California, General Obligation Bonds,
|
No Opt. Call
|
AA–
|
3,555,653
|
|
|
Election of 2006, Series 2010, 0.000%, 8/01/49 – AGM Insured
|
|
|
|
5,750
|
|
Yosemite Community College District, California, General Obligation Bonds, Capital
|
No Opt. Call
|
Aa2
|
2,291,375
|
|
|
Appreciation, Election 2004, Series 2010D, 0.000%, 8/01/42
|
|
|
|
1,000
|
|
Yuba Community College District, California, General Obligation Bonds, Election 2006 Series
|
8/21 at 100.00
|
Aa2
|
1,108,110
|
|
|
2011C, 5.250%, 8/01/47
|
|
|
|
43,555
|
|
Total Tax Obligation/General
|
|
|
26,667,671
|
|
|
Tax Obligation/Limited – 26.6% (19.3% of Total Investments)
|
|
|
|
2,000
|
|
California State Public Works Board, Lease Revenue Bonds, Department of Mental Health,
|
6/14 at 100.00
|
A2
|
2,164,480
|
|
|
Coalinga State Hospital, Series 2004A, 5.500%, 6/01/19
|
|
|
|
260
|
|
Capistrano Unified School District, Orange County, California, Special Tax Bonds, Community
|
9/15 at 100.00
|
BBB
|
266,877
|
|
|
Facilities District, Series 2005, 5.000%, 9/01/24 – FGIC Insured
|
|
|
|
770
|
|
Chino Redevelopment Agency, California, Merged Chino Redevelopment Project Area Tax Allocation
|
9/16 at 101.00
|
A–
|
763,825
|
|
|
Bonds, Series 2006, 5.000%, 9/01/38 – AMBAC Insured
|
|
|
|
375
|
|
Dinuba Redevelopment Agency, California, Tax Allocation Bonds, Merged City of Dinuba
|
9/12 at 101.00
|
A–
|
376,706
|
|
|
Redevelopment Project and Dinuba Redevelopment Project 2, As Amended, Refunding
|
|
|
|
|
|
Series 2001, 5.000%, 9/01/31 – NPFG Insured
|
|
|
|
510
|
|
Fontana Redevelopment Agancy, California, Jurupa Hills Redevelopment Project, Tax Allocation
|
10/12 at 100.00
|
A–
|
511,826
|
|
|
Refunding Bonds, 1997 Series A, 5.500%, 10/01/27
|
|
|
|
1,035
|
|
Hawthorne Community Redevelopment Agency, California, Project Area 2 Tax Allocation Bonds,
|
9/16 at 100.00
|
A–
|
1,060,026
|
|
|
Series 2006, 5.250%, 9/01/36 – SYNCORA GTY Insured
|
|
|
|
460
|
|
Inglewood Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment
|
5/17 at 100.00
|
BBB+
|
457,387
|
|
|
Project, Subordinate Lien Series 2007A-1, 5.000%, 5/01/25 – AMBAC Insured
|
|
|
|
|
|
Irvine, California, Unified School District, Community Facilities District Special Tax Bonds,
|
|
|
|
|
|
Series 2006A:
|
|
|
|
120
|
|
5.000%, 9/01/26
|
9/16 at 100.00
|
N/R
|
123,223
|
275
|
|
5.125%, 9/01/36
|
9/16 at 100.00
|
N/R
|
277,956
|
470
|
|
Los Angeles Community Redevelopment Agency, California, Lease Revenue Bonds, Manchester
|
9/15 at 100.00
|
A1
|
478,065
|
|
|
Social Services Project, Series 2005, 5.000%, 9/01/37 – AMBAC Insured
|
|
|
|
|
|
Modesto Schools Infrastructure Financing Agency, Stanislaus County, California, Special Tax
|
|
|
|
|
|
Revenue Bonds, Series 2004:
|
|
|
|
1,375
|
|
5.250%, 9/01/25 – AMBAC Insured
|
9/14 at 100.00
|
N/R
|
1,396,148
|
1,500
|
|
5.250%, 9/01/26 – AMBAC Insured
|
9/14 at 100.00
|
N/R
|
1,519,230
|
245
|
|
National City Community Development Commission, California, Tax Allocation Bonds, National
|
8/21 at 100.00
|
A–
|
287,919
|
|
|
City Redevelopment Project, Series 2011, 6.500%, 8/01/24
|
|
|
|
90
|
|
Novato Redevelopment Agency, California, Tax Allocation Bonds, Hamilton Field Redevelopment
|
9/21 at 100.00
|
A–
|
102,760
|
|
|
Project, Series 2011, 6.750%, 9/01/40
|
|
|
|
10,900
|
|
Ontario Redevelopment Financing Authority, San Bernardino County, California, Revenue
|
No Opt. Call
|
BBB
|
13,459,974
|
|
|
Refunding Bonds, Redevelopment Project 1, Series 1995, 7.400%, 8/01/25 – NPFG Insured
|
|
|
|
1,000
|
|
Ontario, California, Special Tax Bonds, Community Facilities District 5, Freeway Interchange
|
9/12 at 100.00
|
N/R
|
1,008,690
|
|
|
Project, Series 1997, 6.375%, 9/01/17
|
|
|
|
1,065
|
|
Panama-Buena Vista Union School District, California, Certificates of Participation, School
|
9/16 at 100.00
|
A1
|
1,158,582
|
|
|
Construction Project, Series 2006, 5.000%, 9/01/22 – NPFG Insured
|
|
|
|
|
|
Perris Union High School District Financing Authority, Riverside County, California, Revenue
|
|
|
|
|
|
Bonds, Series 2011:
|
|
|
|
90
|
|
6.000%, 9/01/33
|
9/12 at 103.00
|
N/R
|
92,856
|
195
|
|
6.125%, 9/01/41
|
9/12 at 103.00
|
N/R
|
201,137
|
770
|
|
Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community
|
9/18 at 100.00
|
BBB
|
832,986
|
|
|
Development Project, Refunding Series 2008A, 6.500%, 9/01/28
|
|
|
|
295
|
|
Rancho Santa Fe CSD Financing Authority, California, Revenue Bonds, Superior Lien Series
|
9/21 at 100.00
|
BBB+
|
320,765
|
|
|
2011A, 5.750%, 9/01/30
|
|
|
|
225
|
|
Rialto Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series
|
9/15 at 100.00
|
A–
|
225,684
|
|
|
2005A, 5.000%, 9/01/35 – SYNCORA GTY Insured
|
|
|
|
55
|
|
Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project
|
10/21 at 100.00
|
A–
|
61,045
|
|
|
Area, Series 2011B, 6.500%, 10/01/25
|
|
|
|
1,440
|
|
Riverside County Redevelopment Agency, California, Tax Allocation Housing Bonds, Series 2010A,
|
10/20 at 100.00
|
A–
|
1,542,614
|
|
|
6.000%, 10/01/39
|
|
|
|
280
|
|
Roseville, California, Certificates of Participation, Public Facilities, Series 2003A, 5.000%,
|
8/13 at 100.00
|
AA–
|
285,057
|
|
|
8/01/25 – AMBAC Insured
|
|
|
|
2,500
|
|
Sacramento City Financing Authority, California, Lease Revenue Refunding Bonds, Series 1993A,
|
No Opt. Call
|
A1
|
2,891,950
|
|
|
5.400%, 11/01/20 – AMBAC Insured
|
|
|
|
45
|
|
San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds,
|
2/21 at 100.00
|
A–
|
51,740
|
|
|
Mission Bay North Redevelopment Project, Series 2011C, 6.750%, 8/01/41
|
|
|
|
|
|
San Francisco Redevelopment Financing Authority, California, Tax Allocation Revenue Bonds,
|
|
|
|
|
|
Mission Bay South Redevelopment Project, Series 2011D:
|
|
|
|
45
|
|
7.000%, 8/01/33
|
2/21 at 100.00
|
BBB
|
51,536
|
55
|
|
7.000%, 8/01/41
|
2/21 at 100.00
|
BBB
|
62,241
|
1,200
|
|
San Jose Financing Authority, California, Lease Revenue Refunding Bonds, Convention Center
|
9/12 at 100.00
|
AA
|
1,204,140
|
|
|
Project, Series 2001F, 5.000%, 9/01/20 – NPFG Insured
|
|
|
|
410
|
|
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment
|
8/17 at 100.00
|
BBB
|
417,819
|
|
|
Project, Series 2006C, 5.000%, 8/01/25 – NPFG Insured
|
|
|
|
530
|
|
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment
|
8/17 at 100.00
|
BBB
|
542,800
|
|
|
Project, Series 2006D, 5.000%, 8/01/23 – AMBAC Insured
|
|
|
|
70
|
|
Signal Hill Redevelopment Agency, California, Project 1 Tax Allocation Bonds, Series 2011,
|
4/21 at 100.00
|
N/R
|
76,189
|
|
|
7.000%, 10/01/26
|
|
|
|
125
|
|
Yorba Linda Redevelopment Agency, Orange County, California, Tax Allocation Revenue Bonds,
|
9/21 at 100.00
|
A–
|
139,330
|
|
|
Yorba Linda Redevelopment Project, Subordinate Lien Series 2011A, 6.000%, 9/01/26
|
|
|
|
30,780
|
|
Total Tax Obligation/Limited
|
|
|
34,413,563
|
|
|
Transportation – 6.5% (4.7% of Total Investments)
|
|
|
|
1,355
|
|
Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series
|
4/18 at 100.00
|
AA
|
1,818,789
|
|
|
2008, Trust 3211, 13.416%, 10/01/32 (IF)
|
|
|
|
4,000
|
|
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Refunding
|
1/14 at 101.00
|
BBB–
|
4,079,560
|
|
|
Bonds, Series 1999, 5.875%, 1/15/29
|
|
|
|
2,465
|
|
San Francisco Airports Commission, California, Special Facilities Lease Revenue Bonds, San
|
7/12 at 100.00
|
AA–
|
2,470,053
|
|
|
Francisco International Airport, SFO Fuel Company LLC, Series 2000A, 6.125%, 1/01/27 – AGM
|
|
|
|
|
|
Insured (Alternative Minimum Tax)
|
|
|
|
7,820
|
|
Total Transportation
|
|
|
8,368,402
|
|
|
U.S. Guaranteed – 11.3% (8.2% of Total Investments) (4)
|
|
|
|
10
|
|
California Department of Water Resources, Water System Revenue Bonds, Central Valley Project,
|
No Opt. Call
|
AAA
|
12,595
|
|
|
Series 2002X, 5.500%, 12/01/17 – FGIC Insured (ETM)
|
|
|
|
2,100
|
|
California State, General Obligation Bonds, Series 2004, 5.250%, 4/01/34 (Pre-refunded 4/01/14)
|
4/14 at 100.00
|
Aaa
|
2,292,549
|
1,010
|
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
|
6/13 at 100.00
|
Aaa
|
1,048,249
|
|
|
Bonds, Series 2003A-1, 6.250%, 6/01/33 (Pre-refunded 6/01/13)
|
|
|
|
2,150
|
|
Los Rios Community College District, Sacramento, El Dorado and Yolo Counties, California,
|
8/14 at 102.00
|
Aa2 (4)
|
2,411,526
|
|
|
General Obligation Bonds, Series 2006C, 5.000%, 8/01/24 (Pre-refunded 8/01/14) –
|
|
|
|
|
|
AGM Insured (UB)
|
|
|
|
875
|
|
Orange County Water District, California, Revenue Certificates of Participation, Series 2003B,
|
No Opt. Call
|
AAA
|
1,164,818
|
|
|
5.000%, 8/15/34 – NPFG Insured (ETM)
|
|
|
|
3,710
|
|
Pomona, California, GNMA/FHLMC Collateralized Single Family Mortgage Revenue Refunding Bonds,
|
No Opt. Call
|
Aaa
|
4,964,685
|
|
|
Series 1990B, 7.500%, 8/01/23 (ETM)
|
|
|
|
1,875
|
|
Riverside Community College District, California, General Obligation Bonds, Series 2004A,
|
8/14 at 100.00
|
AA (4)
|
2,076,788
|
|
|
5.250%, 8/01/24 (Pre-refunded 8/01/14) – NPFG Insured
|
|
|
|
485
|
|
San Mateo Union High School District, San Mateo County, California, Certificates of
|
12/17 at 100.00
|
AA– (4)
|
595,735
|
|
|
Participation, Phase 1, Series 2007A, 5.000%, 12/15/30 (Pre-refunded 12/15/17) – AMBAC Insured
|
|
|
|
12,215
|
|
Total U.S. Guaranteed
|
|
|
14,566,945
|
|
|
Utilities – 4.9% (3.6% of Total Investments)
|
|
|
|
2,815
|
|
California Statewide Community Development Authority, Certificates of Participation Refunding,
|
12/12 at 100.00
|
N/R
|
2,705,271
|
|
|
Rio Bravo Fresno Project, Series 1999A, 6.500%, 12/01/18
|
|
|
|
1,365
|
|
Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series
|
No Opt. Call
|
A
|
1,500,258
|
|
|
2007A, 5.500%, 11/15/37
|
|
|
|
455
|
|
Merced Irrigation District, California, Electric System Revenue Bonds, Series 2005, 5.125%,
|
9/15 at 100.00
|
N/R
|
456,110
|
|
|
9/01/31 – SYNCORA GTY Insured
|
|
|
|
1,500
|
|
Southern California Public Power Authority, California, Milford Wind Corridor Phase I Revenue
|
1/20 at 100.00
|
AA–
|
1,717,965
|
|
|
Bonds, Series 2010-1, 5.000%, 7/01/28
|
|
|
|
6,135
|
|
Total Utilities
|
|
|
6,379,604
|
|
|
Water and Sewer – 24.5% (17.7% of Total Investments)
|
|
|
|
1,020
|
|
California Department of Water Resources, Water System Revenue Bonds, Central Valley Project,
|
No Opt. Call
|
AAA
|
1,272,899
|
|
|
Series 2002X, 5.500%, 12/01/17 – FGIC Insured
|
|
|
|
2,500
|
|
El Centro Financing Authority, California, Water Revenue Bonds, Series 2006A, 4.750%,
|
10/16 at 100.00
|
AA–
|
2,609,700
|
|
|
10/01/31 – AGM Insured
|
|
|
|
750
|
|
Fortuna Public Finance Authority, California, Water Revenue Bonds, Series 2006, 5.000%,
|
10/16 at 100.00
|
AA–
|
787,290
|
|
|
10/01/36 – AGM Insured
|
|
|
|
2,540
|
|
Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2011A,
|
1/21 at 100.00
|
AA
|
2,924,962
|
|
|
5.250%, 7/01/39
|
|
|
|
3,380
|
|
Orange County Sanitation District, California, Certificates of Participation, Tender Option
|
2/19 at 100.00
|
AAA
|
4,952,917
|
|
|
Bond Trust 11738, Series 2009, 17.696%, 8/01/29 (IF)
|
|
|
|
3,500
|
|
Placerville Public Financing Authority, California, Wastewater System Refinancing and
|
9/16 at 100.00
|
N/R
|
3,376,765
|
|
|
Improvement Project Revenue Bonds, Series 2006, 5.000%, 9/01/34 – SYNCORA GTY Insured
|
|
|
|
350
|
|
Sacramento County Sanitation District Financing Authority, California, Revenue Bonds, Series
|
6/16 at 100.00
|
AA
|
388,160
|
|
|
2006, 5.000%, 12/01/31 – FGIC Insured
|
|
|
|
2,630
|
|
San Diego Public Facilities Financing Authority, California, Sewerage Revenue Bonds, Refunding
|
5/20 at 100.00
|
AA
|
3,141,482
|
|
|
Series 2010A, 5.250%, 5/15/27
|
|
|
|
2,000
|
|
San Francisco City and County Public Utilities Commission, California, Clean Water Revenue
|
4/13 at 100.00
|
AA–
|
2,071,960
|
|
|
Refunding Bonds, Series 2003A, 5.250%, 10/01/20 – NPFG Insured
|
|
|
|
10,000
|
|
Santa Maria, California, Subordinate Water and Wastewater Revenue Certificates of
|
8/12 at 101.00
|
N/R
|
10,077,700
|
|
|
Participation, Series 1997A, 5.550%, 8/01/27 – AMBAC Insured
|
|
|
|
28,670
|
|
Total Water and Sewer
|
|
|
31,603,835
|
$ 184,389
|
|
Total Investments (cost $162,305,051) – 137.8%
|
|
|
178,031,530
|
|
|
Floating Rate Obligations – (3.3)%
|
|
|
(4,285,000)
|
|
|
Variable Rate Demand Preferred Shares, at Liquidation Value – (38.5)% (5)
|
|
|
(49,800,000)
|
|
|
Other Assets Less Liabilities – 4.0%
|
|
|
5,243,572
|
|
|
Net Assets Applicable to Common Shares – 100%
|
|
|
$ 129,190,102
|