N-Q 1 penn_final.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT COMPANY


Investment Company Act file number: 811-4571

Name of Registrant: Vanguard Pennsylvania Tax-Free Funds

Address of Registrant: P.O. Box 2600
Valley Forge, PA 19482

Name and address of agent for service: Heidi Stam, Esquire
P.O. Box 876
Valley Forge, PA 19482

Registrant’s telephone number, including area code: (610) 669-1000


Date of fiscal year end: November 28

Date of reporting period: February 30, 2009

Item 1: Schedule of Investments

Vanguard Pennsylvania Tax-Exempt Money Market Fund

Schedule of Investments

As of February 28, 2009

 

 

 

Coupon

 

Maturity

Date

 

 

Face

Amount

($000)

Market

Value

($000)

Tax-Exempt Municipal Bonds (98.4%)

 

 

Pennsylvania (97.0%)

 

 

1

Abington PA School District TOB VRDO

0.520%

 

3/6/09

 

LOC

7,500

7,500

 

Adams County PA IDA (Gettysburg College) VRDO

0.600%

 

3/6/09

 

LOC

5,750

5,750

1

Allegheny County PA GO TOB VRDO

0.750%

 

3/6/09

 

(13)

25,985

25,985

 

Allegheny County PA GO VRDO

0.570%

 

3/6/09

 

LOC

37,305

37,305

 

Allegheny County PA GO VRDO

0.570%

 

3/6/09

 

LOC

14,455

14,455

 

Allegheny County PA Higher Educ. Building Auth. (Carnegie Mellon Univ.) VRDO

0.400%

 

3/2/09

 

 

31,100

31,100

 

Allegheny County PA Higher Educ. Building Auth. (Point Park Univ.) VRDO

0.600%

 

3/6/09

 

LOC

15,455

15,455

 

Allegheny County PA Hosp. Dev. Auth. Rev. (Jefferson Regional Medical Center) VRDO

0.600%

 

3/6/09

 

LOC

3,625

3,625

 

Allegheny County PA Hosp. Dev. Auth. Rev. (Presbyterian Univ. Health System) VRDO

0.530%

 

3/6/09

 

LOC

4,935

4,935

1

Allegheny County PA Hosp. Dev. Auth. Rev. (Univ of Pittsburgh Medical Center) TOB VRDO

0.670%

 

3/6/09

 

 

54,990

54,990

1

Allegheny County PA Hosp. Dev. Auth. Rev. TOB VRDO

0.670%

 

3/6/09

 

LOC

49,060

49,060

 

Allegheny County PA IDA Rev. (Carnegie Museum of Pittsburgh) VRDO

0.700%

 

3/6/09

 

LOC

1,955

1,955

 

Allegheny County PA IDA Rev. (Residential Rental) VRDO

0.780%

 

3/6/09

 

LOC

2,865

2,865

 

 

 

 

 

 

Allegheny County PA IDA Rev. (Western PA School for Blind Children) PUT

2.100%

 

7/1/09

 

 

15,000

15,000

 

Beaver County PA IDA PCR (FirstEnergy) VRDO

0.550%

 

3/2/09

 

LOC

24,200

24,200

 

Beaver County PA IDA PCR (FirstEnergy) VRDO

0.550%

 

3/2/09

 

LOC

5,755

5,755

 

Beaver County PA IDA PCR (FirstEnergy) VRDO

0.500%

 

3/6/09

 

LOC

62,600

62,600

 

Beaver County PA IDA PCR (FirstEnergy) VRDO

0.630%

 

3/6/09

 

LOC

52,250

52,250

 

Beaver County PA IDA PCR (Met Edison Co.) VRDO

0.580%

 

3/6/09

 

LOC

10,000

10,000

 

Beaver County PA IDA PCR (Pennsylvania Electric Co. Project) VRDO

0.690%

 

3/6/09

 

LOC

9,000

9,000

 

Beaver County PA IDA PCR VRDO

1.450%

 

3/2/09

 

 

6,900

6,900

1

Berks County PA Hosp. Rev. (Reading Hosp. & Medical Center) TOB VRDO

0.700%

 

3/6/09

 

LOC

15,995

15,995

 

Berks County PA Hosp. Rev. (Reading Hosp. & Medical Center) VRDO

0.600%

 

3/6/09

 

 

17,000

17,000

 

Berks County PA Hosp. Rev. (Reading Hosp. & Medical Center) VRDO

0.680%

 

3/6/09

 

 

27,000

27,000

 

Berks County PA IDA (Kutztown Univ.) VRDO

0.610%

 

3/6/09

 

LOC

13,105

13,105

 

Berks County PA Muni Auth. Incremental Draw Rev. (Albright College) VRDO

0.580%

 

3/6/09

 

LOC

25,500

25,500

 

Bucks County PA IDA (Grand View Hosp.) VRDO

0.520%

 

3/6/09

 

LOC

7,000

7,000

 

Bucks County PA IDA (Pennswood Village Project) VRDO

0.720%

 

3/6/09

 

LOC

8,600

8,600

 

Bucks County PA IDA (Pennswood Village Project) VRDO

0.720%

 

3/6/09

 

LOC

8,415

8,415

 

Cambria County PA IDA Rev. (American National Red Cross) VRDO

0.600%

 

3/6/09

 

LOC

4,500

4,500

 

 

 

 

 

 

Chambersburg PA Auth. Rev. (Wilson College Project) VRDO

0.650%

 

3/6/09

 

LOC

31,180

31,180

 

Chester County PA Health & Educ. Fac. Auth. Rev. (Jefferson Health System) VRDO

0.620%

 

3/6/09

 

 

31,825

31,825

 

Chester County PA Health & Educ. Fac. Auth. Rev. (Jenner's Pond Project) VRDO

0.680%

 

3/6/09

 

LOC

24,040

24,040

 

Chester County PA IDA Student Housing Rev. VRDO

0.750%

 

3/6/09

 

LOC

22,910

22,910

1

Chester County PA IDA Water Fac. Rev. TOB VRDO

0.820%

 

3/6/09

 

(13)

15,935

15,935

1

Chester County PA TOB VRDO

0.600%

 

3/6/09

 

 

4,995

4,995

 

Cumberland County PA Muni. Auth. College Rev. (Messiah Village Program) VRDO

0.710%

 

3/6/09

 

LOC

3,600

3,600

 

Cumberland County PA Muni. Auth. Rev. (Asbury Obligated Group) VRDO

0.570%

 

3/6/09

 

LOC

5,470

5,470

 

Dallastown Area School Dist. VRDO

1.800%

 

3/6/09

 

(4)

7,000

7,000

 

Dauphin County PA General Auth. Hosp. Rev. (Reading Hosp. & Medical Center) VRDO

0.580%

 

3/6/09

 

 

7,855

7,855

 

Dauphin County PA VRDO

0.450%

 

3/6/09

 

 

7,625

7,625

 

Delaware County PA Auth. Rev. (Haverford College) VRDO

0.500%

 

3/6/09

 

 

29,315

29,315

 

Delaware County PA Auth. Rev. (White Horse Village Project) VRDO

0.550%

 

3/2/09

 

LOC

4,920

4,920

 

Delaware County PA Auth. Univ. Rev. (Villanova Univ.) VRDO

0.610%

 

3/6/09

 

LOC

12,525

12,525

 

Delaware County PA Auth. Univ. Rev. (Villanova Univ.) VRDO

0.610%

 

3/6/09

 

LOC

8,310

8,310

 

 

 

 

 

 

Delaware County PA Hosp. Auth. Rev. (Crozer-Chester Medical Center) VRDO

0.720%

 

3/6/09

 

LOC

3,900

3,900

 

Delaware County PA IDA Airport Fac. (United Parcel Service) VRDO

0.450%

 

3/2/09

 

 

11,900

11,900

 

Delaware County PA IDA PCR (BP Exploration & Oil) VRDO

0.550%

 

3/2/09

 

LOC

50,515

50,515

 

Delaware County PA IDA PCR (BP Exploration & Oil) VRDO

0.600%

 

3/2/09

 

 

27,450

27,450

 

Delaware County PA IDA PCR (BP Exploration & Oil) VRDO

0.600%

 

3/2/09

 

 

1,800

1,800

 

Delaware County PA IDA PCR (PECO) CP

0.550%

 

3/26/09

 

LOC

22,125

22,125

 

Delaware County PA IDA Refunding Resource Recovery Fac. (General Electric Capital Corp.) VRDO

0.500%

 

3/6/09

 

 

44,100

44,100

 

Delaware County PA IDA Refunding Resource Recovery Fac. (General Electric Capital Corp.) VRDO

0.500%

 

3/6/09

 

 

8,375

8,375

 

Delaware County PA IDA Refunding Resource Recovery Fac. (General Electric Capital Corp.) VRDO

0.500%

 

3/6/09

 

 

8,235

8,235

 

Delaware County PA IDA Refunding Resource Recovery Fac. (General Electric Capital Corp.) VRDO

0.500%

 

3/6/09

 

 

8,595

8,595

 

Delaware County PA IDA Refunding Resource Recovery Fac. (General Electric Capital Corp.) VRDO

0.500%

 

3/6/09

 

 

7,640

7,640

1

Delaware County PA IDA Rev. (Aqua PA Inc.) TOB VRDO

0.820%

 

3/6/09

 

(13)

9,915

9,915

 

Delaware County PA IDA Rev. (Resource Recovery) VRDO

0.500%

 

3/6/09

 

 

6,355

6,355

 

Delaware County PA IDA Solid Waste Rev. (Scott Paper Co.) VRDO

1.200%

 

3/6/09

 

 

14,900

14,900

 

 

 

 

 

 

Delaware County PA IDA Solid Waste Rev. (Scott Paper Co.) VRDO

1.200%

 

3/6/09

 

 

14,895

14,895

 

Delaware County PA IDA Solid Waste Rev. (Scott Paper Co.) VRDO

1.200%

 

3/6/09

 

 

17,000

17,000

 

Downingtown PA Area School Dist. GO VRDO

2.000%

 

3/6/09

 

(4)

7,200

7,200

 

Doylestown PA Hosp. Auth. Hosp. Rev. VRDO

0.600%

 

3/6/09

 

LOC

11,700

11,700

 

Fayette County PA Hosp. Auth. Rev. (Fayette Regional Health System) VRDO

0.600%

 

3/6/09

 

LOC

15,000

15,000

1

Geisinger Health System Auth. of Pennsylvania Rev. (Penn State Geisinger Health System) TOB VRDO

0.580%

 

3/6/09

 

 

9,755

9,755

1

Geisinger Health System Auth. of Pennsylvania Rev. (Penn State Geisinger Health System) TOB VRDO

0.580%

 

3/6/09

 

 

4,995

4,995

 

Geisinger Health System Auth. of Pennsylvania Rev. (Penn State Geisinger Health System) VRDO

0.450%

 

3/2/09

 

 

9,300

9,300

 

Geisinger Health System Auth. of Pennsylvania Rev. (Penn State Geisinger Health System) VRDO

0.500%

 

3/2/09

 

 

16,450

16,450

 

Geisinger Health System Auth. of Pennsylvania Rev. (Penn State Geisinger Health System) VRDO

0.500%

 

3/2/09

 

 

17,415

17,415

 

Haverford Township PA School Dist. VRDO

0.580%

 

3/6/09

 

LOC

5,000

5,000

 

Lackawanna County PA GO VRDO

2.250%

 

3/6/09

 

(4)

44,540

44,540

 

Lancaster County PA Convention Center Auth. Rev. (Hotel Room) VRDO

0.580%

 

3/6/09

 

LOC

27,200

27,200

 

 

 

 

 

 

Lancaster County PA Convention Center Auth. Rev. (Hotel Room) VRDO

0.590%

 

3/6/09

 

LOC

10,600

10,600

 

Lancaster County PA Hosp. Auth. Rev. (Lancaster General Hosp.) VRDO

0.520%

 

3/2/09

 

LOC

4,700

4,700

 

Lehigh County PA General Purpose Hosp. Auth. Rev. (Lehigh Valley Health Network) VRDO

0.550%

 

3/2/09

 

(12)

5,000

5,000

 

Lehigh County PA General Purpose Hosp. Auth. Rev. (Muhlenberg College) VRDO

0.600%

 

3/6/09

 

LOC

7,500

7,500

 

Lower Merion PA School Dist. GO VRDO

0.550%

 

3/6/09

 

LOC

5,000

5,000

 

Lower Merion PA School Dist. GO VRDO

0.550%

 

3/6/09

 

LOC

5,250

5,250

1

Luzerne County PA IDA (Water Facility) TOB VRDO

0.820%

 

3/6/09

 

(13)

5,000

5,000

 

Manheim Township PA School Dist. VRDO

1.250%

 

3/6/09

 

(4)

11,925

11,925

 

Manheim Township PA School Dist. VRDO

2.250%

 

3/6/09

 

(4)

5,730

5,730

 

Manheim Township PA School Dist. VRDO

2.250%

 

3/6/09

 

(4)

9,000

9,000

 

Monroe County PA Hosp. Auth. Rev. (Pocono Medical Center) VRDO

0.580%

 

3/6/09

 

LOC

21,360

21,360

 

Montgomery County PA GO VRDO

0.500%

 

3/2/09

 

 

1,000

1,000

 

Montgomery County PA IDA PCR (Exelon Generation Co.) CP

0.500%

 

5/7/09

 

LOC

9,150

9,150

 

Montgomery County PA IDA PCR (PECO Energy) VRDO

0.550%

 

3/6/09

 

LOC

6,720

6,720

 

Montgomery County PA IDA Rev. (Foulkeways At Gwynedd Project) VRDO

0.710%

 

3/6/09

 

LOC

13,130

13,130

 

Montgomery County PA IDA Rev. (Gloria Dei Project) VRDO

0.690%

 

3/6/09

 

LOC

16,085

16,085

 

Montgomery County PA IDA Rev. (Haverford School Project) VRDO

0.550%

 

3/6/09

 

LOC

21,845

21,845

 

 

 

 

 

 

Montgomery County PA IDA Rev. (Meadowood Corp) VRDO

0.680%

 

3/6/09

 

LOC

19,645

19,645

 

Montgomery County PA IDA Rev. (Northwestern Human Services) VRDO

0.480%

 

3/6/09

 

LOC

12,435

12,435

 

Montgomery County PA IDA Rev. (Rosemont School Holy Child) VRDO

0.600%

 

3/6/09

 

LOC

12,200

12,200

 

Montgomery County PA IDA Rev. (The Shipley School) VRDO

0.610%

 

3/6/09

 

LOC

14,500

14,500

 

Nazareth PA School Dist. GO VRDO

2.250%

 

3/6/09

 

(4)

6,000

6,000

 

New Garden General Auth. PA Muni Rev. VRDO

1.330%

 

3/6/09

 

(4)

10,100

10,100

1

Northampton County PA General Purpose Auth. Univ. Rev. (Lehigh Univ.) TOB VRDO

0.600%

 

3/6/09

 

LOC

21,380

21,380

 

Northampton County PA General Purpose Auth. Univ. Rev. (Lehigh Univ.) VRDO

0.530%

 

3/6/09

 

 

20,825

20,825

 

Northampton County PA General Purpose Auth. Univ. Rev. (Lehigh Univ.) VRDO

0.530%

 

3/6/09

 

 

13,420

13,420

 

Northampton County PA General Purpose Auth. Univ. Rev. (Lehigh Univ.) VRDO

0.600%

 

3/6/09

 

 

27,375

27,375

1

Owen J. Roberts School Dist. Pennsylvania GO TOB PUT

2.000%

 

3/6/09

 

LOC

16,875

16,875

 

Parkland PA School Dist. VRDO

1.250%

 

3/6/09

 

(4)

13,645

13,645

 

Pennsylvania Econ. Dev. Financing Auth. Fac. Rev. (Jefferson Health) VRDO

0.600%

 

3/6/09

 

 

24,810

24,810

 

Pennsylvania Econ. Dev. Financing Auth. Fac. Rev. (PPL Energy Supply) PUT

1.800%

 

4/9/09

 

LOC

60,570

60,570

 

Pennsylvania Econ. Dev. Financing Auth. Fac. Rev. (PSEG Power) VRDO

0.600%

 

3/6/09

 

LOC

11,000

11,000

 

 

 

 

 

1

Pennsylvania Econ. Dev. Financing Auth. Fac. Rev. (Wenger's Feed Mill) VRDO

0.830%

 

3/6/09

 

LOC

6,510

6,510

 

Pennsylvania Econ. Dev. Financing Auth. Fac. Rev. (Wenger's Feed Mill) VRDO

0.830%

 

3/6/09

 

LOC

6,100

6,100

 

Pennsylvania Econ. Dev. Financing Auth. Fac. Rev. (York Water Company Project) VRDO

0.800%

 

3/6/09

 

LOC

5,000

5,000

 

Pennsylvania GO

5.000%

 

3/1/09

 

 

20,695

20,695

 

Pennsylvania GO

5.000%

 

7/1/09

 

 

4,710

4,773

 

Pennsylvania GO

5.000%

 

7/1/09

 

 

6,955

7,050

 

Pennsylvania GO

5.000%

 

8/1/09

 

 

17,820

18,024

 

Pennsylvania GO

5.000%

 

8/1/09

 

 

36,220

36,676

 

Pennsylvania GO

4.750%

 

9/1/09

 

 

8,375

8,502

 

Pennsylvania GO

5.000%

 

9/1/09

 

 

8,235

8,346

 

Pennsylvania GO

5.000%

 

9/15/09

 

(4)

6,525

6,668

 

Pennsylvania GO

5.000%

 

10/1/09

 

 

9,000

9,172

 

Pennsylvania GO

5.000%

 

10/1/09

 

 

5,000

5,079

 

Pennsylvania GO

5.750%

 

10/1/09

 

(Prere.)

10,675

11,038

 

Pennsylvania GO

5.750%

 

10/1/09

 

(Prere.)

4,420

4,554

 

Pennsylvania GO

5.250%

 

10/15/09

 

 

2,000

2,054

 

Pennsylvania GO

6.000%

 

1/15/10

 

(Prere.)

5,000

5,289

 

Pennsylvania GO

5.250%

 

2/1/10

 

 

16,720

17,417

 

Pennsylvania GO

5.000%

 

3/1/10

 

 

10,000

10,438

1

Pennsylvania GO TOB VRDO

0.580%

 

3/6/09

 

 

19,320

19,320

1

Pennsylvania GO TOB VRDO

0.580%

 

3/6/09

 

 

2,385

2,385

1

Pennsylvania GO TOB VRDO

0.680%

 

3/6/09

 

 

4,200

4,200

 

Pennsylvania Higher Educ. Assistance Agency Student Loan Rev. VRDO

2.000%

 

3/6/09

 

(4)

62,900

62,900

 

Pennsylvania Higher Educ. Assistance Agency Student Loan Rev. VRDO

3.250%

 

3/6/09

 

(4)

83,500

83,500

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Carnegie Mellon Univ.) VRDO

0.500%

 

3/2/09

 

 

39,525

39,525

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Carnegie Mellon Univ.) VRDO

0.500%

 

3/2/09

 

 

41,865

41,865

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Carnegie Mellon Univ.) VRDO

0.500%

 

3/2/09

 

 

34,775

34,775

 

 

 

 

 

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Carnegie Mellon Univ.) VRDO

0.500%

 

3/2/09

 

 

13,200

13,200

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Drexel Univ.) VRDO

0.550%

 

3/2/09

 

LOC

30,525

30,525

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Drexel Univ.) VRDO

0.580%

 

3/6/09

 

LOC

30,000

30,000

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Drexel Univ.) VRDO

0.870%

 

3/6/09

 

LOC

22,500

22,500

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Drexel Univ.) VRDO

0.870%

 

3/6/09

 

LOC

19,480

19,480

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Foundation for Indiana Univ. of Pennsylvania Student Housing) VRDO

0.650%

 

3/6/09

 

LOC

18,000

18,000

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Gannon Univ.) VRDO

0.600%

 

3/6/09

 

LOC

6,950

6,950

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Kings College) VRDO

0.600%

 

3/6/09

 

LOC

4,400

4,400

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (St. Joseph's Univ.) VRDO

0.550%

 

3/6/09

 

LOC

11,500

11,500

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (St. Joseph's Univ.) VRDO

0.780%

 

3/6/09

 

LOC

12,000

12,000

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Student Assn. Inc. Housing - California Univ. of Pennsylvania) VRDO

0.670%

 

3/6/09

 

LOC

64,995

64,995

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Thomas Jefferson Univ.) VRDO

0.530%

 

3/6/09

 

LOC

5,900

5,900

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Thomas Jefferson Univ.) VRDO

0.530%

 

3/6/09

 

LOC

3,500

3,500

1

Pennsylvania Higher Educ. Fac. Auth. Rev. (Trustees of the Univ. of Pennsylvania) TOB VRDO

0.580%

 

3/6/09

 

 

5,495

5,495

 

 

 

 

 

1

Pennsylvania Higher Educ. Fac. Auth. Rev. (Trustees of the Univ. of Pennsylvania) TOB VRDO

0.580%

 

3/6/09

 

 

3,655

3,655

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Univ. of Pennsylvania Health System) VRDO

0.600%

 

3/6/09

 

LOC

5,000

5,000

1

Pennsylvania Higher Educ. Fac. Auth. Rev. (UPMC Health System) TOB VRDO

0.580%

 

3/6/09

 

 

9,305

9,305

 

Pennsylvania Higher Educ. Fac. Auth. Rev. PUT

1.700%

 

3/17/09

 

 

13,030

13,030

1

Pennsylvania Housing and Finance Agency TOB VRDO

0.770%

 

3/6/09

 

 

4,940

4,940

 

Pennsylvania Housing Finance Agency Rev. (Single Family Mortgage) PUT

2.150%

 

3/27/09

 

 

3,260

3,260

 

Pennsylvania Housing Finance Agency Rev. (Single Family Mortgage) PUT

2.350%

 

3/27/09

 

 

2,700

2,700

1

Pennsylvania Housing Finance Agency Rev. (Single Family Mortgage) TOB VRDO

0.750%

 

3/6/09

 

 

25,315

25,315

1

Pennsylvania Housing Finance Agency Rev. (Single Family Mortgage) TOB VRDO

0.760%

 

3/6/09

 

 

35,570

35,570

1

Pennsylvania Housing Finance Agency Rev. (Single Family Mortgage) TOB VRDO

0.760%

 

3/6/09

 

 

10,080

10,080

 

Pennsylvania Housing Finance Agency Rev. (Single Family Mortgage) VRDO

0.900%

 

3/6/09

 

 

30,000

30,000

 

Pennsylvania Housing Finance Agency Rev. (Single Family Mortgage) VRDO

0.900%

 

3/6/09

 

 

25,105

25,105

 

Pennsylvania Housing Finance Agency Rev. (Single Family Mortgage) VRDO

0.900%

 

3/6/09

 

 

10,000

10,000

 

Pennsylvania Housing Finance Agency Rev. VRDO

0.650%

 

3/6/09

 

 

25,665

25,665

 

Pennsylvania Housing Finance Agency Rev. VRDO

0.650%

 

3/6/09

 

 

20,780

20,780

 

 

 

 

 

 

Pennsylvania Housing Finance Agency Rev. VRDO

0.900%

 

3/6/09

 

 

14,975

14,975

 

Pennsylvania Housing Finance Agency Rev. VRDO

0.900%

 

3/6/09

 

 

9,495

9,495

 

Pennsylvania Housing Finance Agency Rev. VRDO

0.900%

 

3/6/09

 

 

20,000

20,000

1

Pennsylvania Housing Finance Agency TOB VRDO

0.870%

 

3/6/09

 

 

3,875

3,875

 

Pennsylvania Intergovernmental Cooperation Auth. Rev. VRDO

1.400%

 

3/6/09

 

(4)

12,400

12,400

1

Pennsylvania Public School Building Auth. Lease Rev. (School Dist. of Philadelphia) TOB VRDO

0.530%

 

3/6/09

 

LOC

30,715

30,715

 

Pennsylvania State Univ. Rev.

5.000%

 

8/15/09

 

 

5,000

5,076

1

Pennsylvania State Univ. Rev. TOB VRDO

0.580%

 

3/6/09

 

 

6,095

6,095

 

Pennsylvania State Univ. Rev. VRDO

0.450%

 

3/6/09

 

 

34,755

34,755

 

Pennsylvania State Univ. Rev. VRDO

0.450%

 

3/6/09

 

 

34,475

34,475

1

Pennsylvania State Univ. TOB VRDO

0.570%

 

3/6/09

 

LOC

19,995

19,995

1

Pennsylvania Turnpike Comm. Registration Fee Rev. TOB VRDO

1.150%

 

3/6/09

 

(4)

9,900

9,900

 

Pennsylvania Turnpike Comm. Rev. VRDO

0.600%

 

3/6/09

 

LOC

10,000

10,000

 

Pennsylvania Turnpike Comm. Rev. VRDO

0.600%

 

3/6/09

 

LOC

63,800

63,800

 

Pennsylvania Turnpike Comm. Rev. VRDO

0.600%

 

3/6/09

 

LOC

21,000

21,000

 

Philadelphia PA Airport Rev. VRDO

0.680%

 

3/6/09

 

LOC

26,100

26,100

 

Philadelphia PA Auth. for Individual Healthcare Dev. Rev. VRDO

0.650%

 

3/6/09

 

LOC

9,390

9,390

 

Philadelphia PA Auth. IDR (Girard Estate Aramark Project) VRDO

0.580%

 

3/6/09

 

LOC

13,750

13,750

 

Philadelphia PA GO

5.250%

 

3/15/09

 

(4)(Prere.)

1,755

1,775

 

Philadelphia PA GO

5.250%

 

3/15/09

 

(4)(Prere.)

3,000

3,033

 

 

 

 

 

1

Philadelphia PA Hosp. & Higher Educ. Fac. Auth. Rev. (Children's Hosp. of Philadelphia) TOB VRDO

0.680%

 

3/6/09

 

 

5,240

5,240

 

Philadelphia PA Hosp. & Higher Educ. Fac. Auth. Rev. (Children's Hosp. of Philadelphia) VRDO

0.500%

 

3/2/09

 

 

3,750

3,750

 

Philadelphia PA Hosp. & Higher Educ. Fac. Auth. Rev. (Children's Hosp. of Philadelphia) VRDO

0.500%

 

3/2/09

 

 

2,200

2,200

 

Philadelphia PA Hosp. & Higher Educ. Fac. Auth. Rev. (Children's Hosp. of Philadelphia) VRDO

0.500%

 

3/2/09

 

 

19,000

19,000

 

Philadelphia PA Hosp. & Higher Educ. Fac. Auth. Rev. (Wills Eye Hosp.) VRDO

0.580%

 

3/6/09

 

LOC

11,115

11,115

1

Philadelphia PA IDA Rev. (Fox Chase Cancer Center) TOB VRDO

0.670%

 

3/6/09

 

LOC

12,000

12,000

 

Philadelphia PA IDA Rev. (Fox Chase Cancer Center) VRDO

0.550%

 

3/2/09

 

LOC

6,265

6,265

 

Philadelphia PA IDA Rev. (William Penn Charter) VRDO

0.600%

 

3/6/09

 

LOC

5,000

5,000

 

Philadelphia PA IDA Rev. VRDO

0.700%

 

3/6/09

 

LOC

9,025

9,025

 

Philadelphia PA School Dist. GO

5.250%

 

4/1/09

 

(Prere.)

3,920

3,929

 

Philadelphia PA School Dist. VRDO

0.650%

 

3/6/09

 

LOC

30,000

30,000

1

Philadelphia PA Water & Waste Water Rev. TOB VRDO

0.740%

 

3/6/09

 

(13)(4)

35,210

35,210

 

Philadelphia PA Water & Waste Water Rev. VRDO

0.620%

 

3/6/09

 

LOC

45,000

45,000

 

Pittsburgh PA School Dist. BAN

3.500%

 

11/2/09

 

 

10,000

10,099

 

Quakertown PA General Auth. Rev. PUT

1.650%

 

3/5/09

 

 

20,000

20,000

 

Red Lion PA School Dist. VRDO

1.250%

 

3/6/09

 

(4)

47,750

47,750

 

 

 

 

 

 

South Fork PA Hosp. Auth. Rev. (Conemaugh Valley Hosp.) VRDO

0.600%

 

3/6/09

 

LOC

27,375

27,375

1

Southcentral Pennsylvania General Auth. Rev. (Wellspan Health) TOB VRDO

0.680%

 

3/6/09

 

 

9,970

9,970

 

Southcentral Pennsylvania General Auth. Rev. (Wellspan Health) VRDO

0.620%

 

3/6/09

 

LOC

6,200

6,200

 

Southeastern Pennsylvania Transp. Auth. Rev. VRDO

0.600%

 

3/6/09

 

LOC

14,200

14,200

 

St. Mary's Hosp. Auth. Bucks County PA Rev. (Catholic Health Initiatives) VRDO

0.350%

 

3/6/09

 

 

30,900

30,900

 

St. Mary's Hosp. Auth. Bucks County PA Rev. (Catholic Health Initiatives) VRDO

0.610%

 

3/6/09

 

 

9,900

9,900

 

State Public School Building Auth. Pennsylvania College Rev. (North Allegheny School Dist.) VRDO

0.450%

 

3/6/09

 

 

18,145

18,145

 

Temple Univ. of the Commonwealth System of Higher Educ. Pennsylvania Univ. Funding Obligation

2.500%

 

4/21/09

 

 

60,000

60,079

 

Union County PA Higher Educ. Auth. Rev. (Bucknell Univ.) VRDO

0.580%

 

3/6/09

 

 

5,985

5,985

 

Univ. of Pittsburgh of the Commonwealth System of Higher Educ. Pennsylvania (Univ. Capital Project) VRDO

0.570%

 

3/6/09

 

 

8,000

8,000

 

Univ. of Pittsburgh of the Commonwealth System of Higher Educ. Pennsylvania (Univ. Capital Project) VRDO

0.570%

 

3/6/09

 

 

3,500

3,500

 

Univ. of Pittsburgh of the Commonwealth System of Higher Educ. Pennsylvania (Univ. Capital Project) VRDO

0.570%

 

3/6/09

 

 

3,200

3,200

 

 

 

 

 

 

Univ. of Pittsburgh of the Commonwealth System of Higher Educ. Pennsylvania (Univ. Capital Project) VRDO

0.570%

 

3/6/09

 

 

13,600

13,600

 

Univ. of Pittsburgh of the Commonwealth System of Higher Educ. Pennsylvania (Univ. Capital Project) VRDO

0.570%

 

3/6/09

 

 

6,100

6,100

 

Univ. of Pittsburgh of the Commonwealth System of Higher Educ. Pennsylvania (Univ. Capital Project) VRDO

4.000%

 

3/6/09

 

 

5,000

5,000

 

Univ. of Pittsburgh of the Commonwealth System of Higher Educ. Pennsylvania (Univ. Capital Project) VRDO

4.000%

 

3/6/09

 

 

12,500

12,500

 

 

Univ. of Pittsburgh of the Commonwealth System of Higher Educ. Pennsylvania (Univ. Capital Project) VRDO

4.000%

 

3/6/09

 

 

9,000

9,000

 

Univ. of Pittsburgh of the Commonwealth System of Higher Educ. Pennsylvania (Univ. Capital Project) VRDO

4.000%

 

3/6/09

 

 

8,800

8,800

 

Univ. of Pittsburgh of the Commonwealth System of Higher Educ. Pennsylvania (Univ. Capital Project) VRDO

4.000%

 

3/6/09

 

 

10,000

10,000

 

Univ. of Pittsburgh of the Commonwealth System of Higher Educ. Pennsylvania (Univ. Capital Project) VRDO

4.000%

 

3/6/09

 

 

10,000

10,000

 

Univ. of Pittsburgh of the Commonwealth System of Higher Educ. Pennsylvania (Univ. Capital Project) VRDO

4.000%

 

3/6/09

 

 

14,200

14,200

 

 

 

 

 

 

Univ. of Pittsburgh of the Commonwealth System of Higher Educ. Pennsylvania (Univ. Capital Project) VRDO

4.000%

 

3/6/09

 

 

13,621

13,621

 

Univ. of Pittsburgh PA Rev. CP

0.750%

 

4/7/09

 

 

8,750

8,750

 

Upper St. Claire PA VRDO

1.800%

 

3/6/09

 

(4)

23,040

23,040

 

Venango PA IDA (Scrubgrass Project) CP

3.500%

 

3/3/09

 

LOC

29,548

29,548

 

Venango PA IDA (Scrubgrass Project) CP

3.500%

 

3/3/09

 

LOC

15,355

15,355

 

Wilkes-Barre PA Finance Auth. Rev. (King College Project) VRDO

0.600%

 

3/6/09

 

LOC

9,595

9,595

 

York County PA IDA (PECO) CP

0.620%

 

5/27/09

 

LOC

16,440

16,440

 

York County PA TRAN

2.000%

 

4/30/09

 

 

6,630

6,642

 

 

 

 

 

 

 

 

3,635,872

 

 

 

Puerto Rico (1.4%)

1

Puerto Rico Ind. Medical & Environmental Fac. Finance Auth. Rev. PCR (Abbott Laboratories) PUT

2.250%

 

3/1/09

 

 

7,000

7,000

 

Puerto Rico Muni. Finance Agency

6.000%

 

8/1/09

 

(4)(Prere.)

5,500

5,639

 

Puerto Rico TRAN

3.000%

 

7/30/09

 

LOC

39,000

39,217

 

 

51,856

Total Tax-Exempt Municipal Bonds (Cost $3,687,728)

 

3,687,728

Other Assets and Liabilities-Net (1.6%)

 

61,512

Net Assets (100%)

 

3,749,240

 

1

Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2009, the aggregate value of these securities was $509,155,000, representing 13.6% of net assets.

 

 

Pennsylvania Tax-Exempt Money Market Fund

 

 

Key to Abbreviations

 

ARS - Auction Rate Security.

BAN - Bond Anticipation Note.

COP - Certificate of Participation.

CP - Commercial Paper.

FR - Floating Rate.

GAN - Grant Anticipation Note.

GO - General Obligation Bond.

IDA - Industrial Development Authority Bond.

IDR - Industrial Development Revenue Bond.

PCR - Pollution Control Revenue Bond.

PUT - Put Option Obligation.

RAN - Revenue Anticipation Note.

TAN - Tax Anticipation Note.

TOB - Tender Option Bond.

TRAN - Tax Revenue Anticipation Note.

UFSD - Union Free School District.

USD - United School District.

VRDO - Variable Rate Demand Obligation.

(ETM) - Escrowed to Maturity.

(Prere.) - Prerefunded.

 

Scheduled principal and interest payments are guaranteed by:

(1) MBIA (Municipal Bond Insurance Association).

(2) AMBAC (Ambac Assurance Corporation).

(3) FGIC (Financial Guaranty Insurance Company).

(4) FSA (Financial Security Assurance).

(5) BIGI (Bond Investors Guaranty Insurance).

(6) Connie Lee Inc.

(7) FHA (Federal Housing Authority).

(8) CapMAC (Capital Markets Assurance Corporation).

(9) American Capital Access Financial Guaranty Corporation.

(10) XL Capital Assurance Inc.

(11) CIFG (CDC IXIS Financial Guaranty).

(12) Assured Guaranty Corp.

(13) National Indemnity Co. (Berkshire Hathaway).

The insurance does not guarantee the market value of the municipal bonds.

 

LOC - Scheduled principal and interest payments are guaranteed by bank letter of credit.

 

 

Pennsylvania Tax-Exempt Money Market Fund

 

 

 

Security Valuation: Securities are valued at amortized cost, which approximates market value.

In September 2006, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 157 (“FAS 157”), “Fair Value Measurements.” FAS 157 establishes a framework for measuring fair value and expands disclosures about fair value measurements in financial statements.

The various inputs that may be used to determine the value of the fund's investments are summarized in three broad levels. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.

Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3—Significant unobservable inputs (including the fund's own assumptions used to determine the fair value of investments).

At February 28, 2009, 100% of the fund's investments were valued using amortized cost, in accordance with rules under the Investment Company Act of 1940. Amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active market, securities valued at amortized cost are considered to be valued using Level 2 inputs.

 

 

 

Vanguard Pennsylvania Long-Term Tax-Exempt Fund

Schedule of Investments

As of February 28, 2009

 

 

 

Coupon

 

Maturity

Date

 

 

Face

Amount

($000)

Market

Value

($000)

Tax-Exempt Municipal Bonds (99.0%)

Pennsylvania (95.0%)

 

 

Abington PA School Dist. GO

5.000%

 

4/1/32

 

(4)

6,495

6,442

 

Adams County PA GO

5.300%

 

5/15/11

 

(3)(Prere.)

10,240

11,124

 

Allegheny County PA GO

0.000%

 

4/1/10

 

(1)

2,000

1,953

 

Allegheny County PA GO

5.250%

 

5/1/11

 

(3)(Prere.)

3,000

3,252

 

Allegheny County PA GO

5.500%

 

5/1/11

 

(3)(Prere.)

445

485

 

Allegheny County PA GO

5.750%

 

5/1/11

 

(3)(Prere.)

730

799

 

Allegheny County PA GO

5.750%

 

11/1/11

 

(3)

995

1,066

 

Allegheny County PA GO

5.375%

 

11/1/12

 

(1)(Prere.)

3,725

4,219

 

Allegheny County PA GO

5.375%

 

11/1/12

 

(1)(Prere.)

2,880

3,262

 

Allegheny County PA GO

5.375%

 

11/1/12

 

(1)(Prere.)

2,000

2,265

 

Allegheny County PA GO

5.375%

 

11/1/12

 

(1)(Prere.)

2,645

2,996

 

Allegheny County PA GO

5.500%

 

11/1/14

 

(3)

605

633

 

Allegheny County PA GO

5.375%

 

11/1/16

 

(1)

4,100

4,499

 

Allegheny County PA GO

5.375%

 

11/1/17

 

(1)

3,600

3,950

 

Allegheny County PA GO

6.000%

 

7/1/23

 

(1)

5,745

6,068

 

Allegheny County PA GO

5.000%

 

11/1/32

 

(4)

3,500

3,447

 

Allegheny County PA Higher Educ. Building Auth. (Carnegie Mellon Univ.)

5.125%

 

3/1/32

 

 

3,000

3,005

 

Allegheny County PA Hosp. Dev. Auth. Rev. (Magee Women's Hosp.)

6.000%

 

10/1/10

 

(1)

2,905

3,029

 

Allegheny County PA Hosp. Dev. Auth. Rev. (Univ. of Pittsburgh Medical Center)

5.000%

 

6/15/13

 

 

2,000

2,092

 

 

 

 

 

 

Allegheny County PA Hosp. Dev. Auth. Rev. (Univ. of Pittsburgh Medical Center)

5.000%

 

6/15/14

 

 

1,500

1,564

 

Allegheny County PA Hosp. Dev. Auth. Rev. (Univ. of Pittsburgh Medical Center)

5.000%

 

9/1/14

 

 

25,000

26,251

 

Allegheny County PA Hosp. Dev. Auth. Rev. (Univ. of Pittsburgh Medical Center)

5.000%

 

6/15/15

 

 

2,000

2,086

 

Allegheny County PA Hosp. Dev. Auth. Rev. (Univ. of Pittsburgh Medical Center)

5.000%

 

6/15/18

 

 

7,000

7,130

 

Allegheny County PA Hosp. Dev. Auth. Rev. (Univ. of Pittsburgh)

6.000%

 

7/1/26

 

(1)

4,625

4,787

 

Allegheny County PA Hosp. Dev. Auth. Rev. (Univ. of Pittsburgh)

6.000%

 

7/1/27

 

(1)

9,325

9,608

 

Allegheny County PA Port Auth. Rev.

5.375%

 

3/1/12

 

(1)

4,965

5,245

 

Allegheny County PA Port Auth. Rev.

5.500%

 

3/1/14

 

(1)

2,355

2,460

 

Allegheny County PA Port Auth. Rev.

5.500%

 

3/1/16

 

(1)

1,500

1,556

 

Allegheny County PA Port Auth. Rev.

5.500%

 

3/1/17

 

(1)

2,750

2,843

 

Allegheny County PA Sanitation Auth. Sewer Rev.

5.500%

 

12/1/10

 

(1)(Prere.)

6,880

7,461

 

Allegheny County PA Sanitation Auth. Sewer Rev.

6.000%

 

12/1/10

 

(1)

1,500

1,600

 

Allegheny County PA Sanitation Auth. Sewer Rev.

6.000%

 

12/1/11

 

(1)

1,490

1,597

 

Allegheny County PA Sanitation Auth. Sewer Rev.

5.750%

 

12/1/12

 

(1)

1,180

1,255

 

Allegheny County PA Sanitation Auth. Sewer Rev.

5.375%

 

12/1/16

 

(1)

3,545

3,714

 

Allegheny County PA Sanitation Auth. Sewer Rev.

5.500%

 

12/1/16

 

(3)(ETM)

11,295

12,500

 

 

 

 

 

 

Allegheny County PA Sanitation Auth. Sewer Rev.

5.375%

 

12/1/18

 

(1)

15,000

15,575

 

Allegheny County PA Sanitation Auth. Sewer Rev.

5.000%

 

12/1/24

 

(1)

6,000

5,929

 

Allegheny County PA Sanitation Auth. Sewer Rev.

5.500%

 

12/1/30

 

(1)

2,150

2,161

 

Allegheny County PA Sanitation Auth. Sewer Rev.

5.000%

 

12/1/32

 

(1)

12,000

11,391

 

Annville Cleona PA School Dist.

6.000%

 

3/1/28

 

(4)

1,500

1,592

 

Annville Cleona PA School Dist.

6.000%

 

3/1/31

 

(4)

2,475

2,602

 

Bensalem Township PA School Dist. GO

5.250%

 

6/15/24

 

(1)

3,700

3,805

 

Berks County PA GO

0.000%

 

11/15/13

 

(1)

7,250

6,137

 

Berks County PA GO

0.000%

 

11/15/14

 

(1)

8,615

6,904

 

Berks County PA GO

0.000%

 

11/15/15

 

(1)

6,250

4,763

 

Berks County PA Hosp. Rev. (Reading Hosp.)

5.700%

 

10/1/14

 

(1)

4,500

4,911

 

Bethlehem PA Area School Dist.

5.375%

 

3/15/12

 

(3)(Prere.)

7,500

8,340

 

Blair County PA Hosp. Auth. Rev. (Altoona Hosp.)

5.500%

 

7/1/16

 

(2)

4,480

4,934

 

Bristol Borough PA School Dist. GO

5.250%

 

9/1/15

 

(4)(Prere.)

3,635

4,245

 

Bucks County PA IDA (Pennswood Village Project)

6.000%

 

10/1/12

 

(Prere.)

2,600

3,001

 

Carlisle PA Area School Dist. GO

5.375%

 

3/1/12

 

(1)(Prere.)

1,550

1,721

 

Carlisle PA Area School Dist. GO

5.375%

 

3/1/12

 

(1)(Prere.)

1,635

1,816

 

Carlisle PA Area School Dist. GO

5.375%

 

3/1/12

 

(1)(Prere.)

1,820

2,021

 

Carlisle PA Area School Dist. GO

5.375%

 

3/1/12

 

(1)(Prere.)

1,725

1,916

 

Catholic Health East Pennsylvania Health Systems Rev.

5.375%

 

11/15/14

 

(Prere.)

3,000

3,455

 

Catholic Health East Pennsylvania Health Systems Rev.

5.500%

 

11/15/14

 

(Prere.)

1,400

1,621

 

Central Bucks PA School Dist.

5.500%

 

5/15/12

 

(3)(Prere.)

5,540

6,212

 

Central Bucks PA School Dist.

5.500%

 

5/15/12

 

(3)(Prere.)

3,785

4,244

 

Central Bucks PA School Dist.

5.500%

 

5/15/12

 

(3)(Prere.)

2,400

2,691

 

 

 

 

 

 

Central Bucks PA School Dist.

5.500%

 

5/15/12

 

(3)(Prere.)

1,500

1,682

 

Central Bucks PA School Dist.

5.000%

 

5/15/24

 

 

11,750

12,336

 

Chambersburg PA Area School Dist. GO

5.250%

 

3/1/29

 

(1)

3,805

3,796

 

Chester County PA GO

5.000%

 

7/15/26

 

 

4,345

4,541

 

Chester County PA GO

5.000%

 

7/15/27

 

 

5,000

5,190

 

Chester County PA Health & Educ. Fac. Auth. Rev. (Devereux Foundation)

5.000%

 

11/1/31

 

 

4,500

3,393

 

Chester County PA Health & Educ. Fac. Auth. Rev. (Jefferson Health System)

5.250%

 

5/15/22

 

(2)

33,580

33,636

 

Chester County PA School Auth. Rev.

5.000%

 

4/1/23

 

(2)

2,670

2,715

 

Chester County PA School Auth. Rev.

5.000%

 

4/1/24

 

(2)

1,000

1,009

 

Chester County PA School Auth. Rev.

5.000%

 

4/1/26

 

(2)

1,575

1,573

 

Clarion County PA IDA Auth. Rev.

5.000%

 

7/1/32

 

(10)

4,980

3,759

 

Clarion County PA IDA Auth. Rev.

5.000%

 

7/1/37

 

(10)

6,360

4,630

 

Coatesville PA School Dist. GO

5.250%

 

8/15/14

 

(4)(Prere.)

6,645

7,703

 

Commonwealth Financing Auth. Pennsylvania Rev.

5.250%

 

6/1/23

 

(1)

13,535

13,934

 

Cumberland County PA Muni. Auth. College Rev. (Dickinson College)

5.500%

 

11/1/10

 

(2)(Prere.)

3,230

3,465

 

Cumberland County PA Muni. Auth. Rev.

7.250%

 

1/1/13

 

(Prere.)

7,360

8,751

 

Cumberland County PA Muni. Auth. Rev. (Diakon Lutheran Ministries)

5.000%

 

1/1/27

 

 

2,700

1,949

 

Cumberland County PA Muni. Auth. Rev. (Diakon Lutheran Ministries)

5.000%

 

1/1/36

 

 

6,750

4,430

 

Dallas PA School Dist. GO

5.000%

 

4/1/29

 

(11)

5,820

5,612

 

Danville PA Area School Dist. GO

5.000%

 

5/1/37

 

(4)

7,970

7,781

 

 

 

 

 

 

Dauphin County PA General Auth. Health System Rev. (Pinnacle Health)

5.500%

 

8/15/28

 

(1)(ETM)

9,415

10,706

 

Dauphin County PA General Auth. Hosp. Rev. (West Pennsylvania Hosp.)

5.500%

 

7/1/13

 

(1)(ETM)

5,000

5,415

 

Delaware County PA Auth. Rev. (Catholic Health East)

5.250%

 

11/15/12

 

(2)

3,300

3,335

 

Delaware County PA Auth. Rev. (Catholic Health East)

5.250%

 

11/15/13

 

(2)

4,665

4,695

 

Delaware County PA Auth. Univ. Rev. (Villanova Univ.)

5.000%

 

8/1/24

 

(1)

4,000

4,037

 

Delaware County PA Hosp. Auth. Rev. (Crozer Keystone Obligated Group)

5.000%

 

12/15/31

 

 

10,000

6,513

 

Delaware County PA Hosp. Auth. Rev. (Crozer-Chester Medical Center)

5.300%

 

12/1/27

 

 

8,905

6,352

 

Delaware County PA IDA PCR (PECO Energy Co.)

4.000%

 

12/1/12

 

 

13,000

13,328

 

Delaware County PA IDA Solid Waste Rev. (Scott Paper Co.) VRDO

1.200%

 

3/6/09

 

 

8,700

8,700

 

Delaware County PA IDA Solid Waste Rev. (Scott Paper Co.) VRDO

1.200%

 

3/6/09

 

 

6,780

6,780

 

Delaware County PA Regional Water Quality Control Auth. Rev.

5.500%

 

11/1/11

 

(3)(Prere.)

2,405

2,662

 

Delaware County PA Regional Water Quality Control Auth. Rev.

5.500%

 

11/1/11

 

(3)(Prere.)

2,685

2,971

 

Delaware River Joint Toll Bridge Comm. Pennsylvania & New Jersey Rev.

5.250%

 

7/1/19

 

(1)

1,645

1,791

 

Delaware River Joint Toll Bridge Comm. Pennsylvania & New Jersey Rev.

5.500%

 

7/1/19

 

(1)

4,835

5,405

 

 

 

 

 

 

Delaware River Joint Toll Bridge Comm. Pennsylvania & New Jersey Rev.

5.250%

 

7/1/20

 

(1)

1,735

1,865

 

Delaware River Joint Toll Bridge Comm. Pennsylvania & New Jersey Rev.

5.500%

 

7/1/20

 

(1)

5,105

5,667

 

Delaware River Joint Toll Bridge Comm. Pennsylvania & New Jersey Rev.

5.250%

 

7/1/21

 

(1)

1,825

1,925

 

Delaware River Joint Toll Bridge Comm. Pennsylvania & New Jersey Rev.

5.250%

 

7/1/22

 

(1)

1,920

2,008

 

Delaware River Joint Toll Bridge Comm. Pennsylvania & New Jersey Rev.

5.250%

 

7/1/23

 

(1)

2,020

2,080

 

Delaware River Port Auth. Pennsylvania & New Jersey Rev.

5.700%

 

1/1/23

 

(4)

8,345

8,372

 

Doylestown PA Hosp. Auth. Hosp. Rev.

5.000%

 

7/1/20

 

(12)

5,060

4,980

 

Doylestown PA Hosp. Auth. Hosp. Rev.

5.000%

 

7/1/21

 

(12)

3,000

2,912

 

Doylestown PA Hosp. Auth. Hosp. Rev.

5.000%

 

7/1/22

 

(12)

3,455

3,304

 

East Stroudsburg PA Area School Dist. GO

5.000%

 

9/1/29

 

(4)

7,085

7,104

 

Erie County PA GO

5.000%

 

9/1/15

 

(3)(Prere.)

5,525

6,391

 

Erie County PA Hosp. Auth. Rev. (Hamot Health Foundation)

5.000%

 

11/1/35

 

(11)

7,000

5,152

 

Erie PA School Dist. GO

0.000%

 

9/1/10

 

(4)

5,665

5,491

 

Erie PA School Dist. GO

0.000%

 

9/1/11

 

(4)

5,780

5,443

 

Erie PA School Dist. GO

0.000%

 

5/1/16

 

(1)(ETM)

3,175

2,532

 

Erie PA School Dist. GO

0.000%

 

9/1/18

 

(4)

830

557

 

Geisinger Health System Auth. of Pennsylvania Rev. (Penn State Geisinger Health System) VRDO

0.450%

 

3/2/09

 

 

2,305

2,305

 

Geisinger Health System Auth. of Pennsylvania Rev. (Penn State Geisinger Health System) VRDO

0.500%

 

3/2/09

 

 

4,900

4,900

 

 

 

 

 

 

Geisinger Health System Auth. of Pennsylvania Rev. (Penn State Geisinger Health System) VRDO

0.500%

 

3/2/09

 

 

13,700

13,700

 

Hazleton PA Area School Dist. GO

5.500%

 

3/1/11

 

(1)

3,740

3,976

 

Hazleton PA Area School Dist. GO

5.750%

 

3/1/12

 

(1)

1,420

1,554

 

Hazleton PA Area School Dist. GO

6.000%

 

3/1/16

 

(1)

18,245

20,206

 

Hazleton PA Area School Dist. GO

0.000%

 

3/1/17

 

(1)

4,425

3,053

 

Hazleton PA Area School Dist. GO

0.000%

 

3/1/22

 

(1)

5,265

2,514

 

Hempfield PA Area School Dist. (Westmoreland County) GO

5.000%

 

9/15/15

 

(3)(Prere.)

5,030

5,822

 

Lackawanna County PA GO

5.000%

 

9/15/29

 

(2)

1,975

1,908

 

Lackawanna County PA GO

5.000%

 

9/15/29

 

(4)

3,745

3,755

 

Lake Lehman PA School Dist. GO

0.000%

 

4/1/14

 

(1)

1,290

1,062

 

Lake Lehman PA School Dist. GO

0.000%

 

4/1/15

 

(1)

1,295

1,017

 

Lake Lehman PA School Dist. GO

0.000%

 

4/1/16

 

(1)

1,310

975

 

Lake Lehman PA School Dist. GO

0.000%

 

4/1/17

 

(1)

1,315

924

 

Lake Lehman PA School Dist. GO

0.000%

 

4/1/18

 

(1)

1,000

660

 

Lancaster County PA GO

5.500%

 

11/1/16

 

(1)

1,025

1,108

 

Lancaster County PA GO

5.500%

 

11/1/17

 

(1)

1,060

1,146

 

Lancaster County PA GO

5.500%

 

11/1/18

 

(1)

1,120

1,205

 

Lancaster County PA GO

5.500%

 

11/1/19

 

(1)

1,175

1,264

 

Lancaster County PA Hosp Auth Rev. (Lancaster General Hosp.)

5.000%

 

3/15/26

 

 

9,205

8,527

 

Lancaster County PA Hosp Auth Rev. (Lancaster General Hosp.)

5.000%

 

3/15/36

 

 

12,370

10,725

 

Lancaster County PA Hosp. Auth. Rev. (Lancaster General Hosp.) VRDO

0.520%

 

3/2/09

 

LOC

8,700

8,700

 

 

 

 

 

 

Lancaster County PA Hosp. Auth. Rev. (Willow Valley Retirement Project)

5.875%

 

6/1/21

 

 

1,000

994

 

Lancaster County PA Hosp. Auth. Rev. (Willow Valley Retirement Project)

5.875%

 

6/1/31

 

 

6,000

5,323

 

Lancaster PA Higher Educ. Auth. Rev. (Franklin & Marshall College)

5.000%

 

4/15/22

 

 

1,135

1,159

 

Lancaster PA Higher Educ. Auth. Rev. (Franklin & Marshall College)

5.000%

 

4/15/27

 

 

2,775

2,723

 

Lancaster PA Higher Educ. Auth. Rev. (Franklin & Marshall College)

5.000%

 

4/15/37

 

 

4,000

3,636

 

Latrobe PA IDA (Saint Vincent College)

5.600%

 

5/1/21

 

 

1,635

1,484

 

Latrobe PA IDA (Saint Vincent College)

5.700%

 

5/1/31

 

 

2,165

1,810

 

Lebanon County Health Fac. Auth. Rev. (Good Samaritan)

6.000%

 

11/15/35

 

 

10,500

7,947

 

Lehigh County PA General Purpose Hosp. Auth. Rev. (Lehigh Valley Health Network)

5.375%

 

7/1/14

 

(4)

900

944

 

Lehigh County PA General Purpose Hosp. Auth. Rev. (Lehigh Valley Health Network)

7.000%

 

7/1/16

 

(1)

4,415

5,187

 

Lehigh County PA General Purpose Hosp. Auth. Rev. (Lehigh Valley Health Network)

5.000%

 

7/1/35

 

(4)

10,000

8,451

 

Lower Merion PA School Dist. GO

5.000%

 

9/1/28

 

 

7,845

8,097

 

Lower Merion PA School Dist. GO

5.000%

 

9/1/30

 

 

8,670

8,869

 

Luzerne County PA GO

0.000%

 

11/15/12

 

(1)(Prere.)

2,360

1,728

 

Luzerne County PA GO

0.000%

 

11/15/12

 

(1)(Prere.)

2,390

1,643

 

Luzerne County PA GO

5.250%

 

12/15/21

 

(1)

5,320

5,564

 

 

 

 

 

 

Lycoming County PA Auth. College Rev. (PA College of Technology)

5.250%

 

10/1/27

 

(12)

5,395

5,453

 

Lycoming County PA Auth. College Rev. (PA College of Technology)

5.500%

 

10/1/37

 

(12)

6,650

6,668

 

McKeesport PA Area School Dist. GO

0.000%

 

10/1/09

 

(1)

2,020

2,000

 

McKeesport PA Area School Dist. GO

0.000%

 

10/1/10

 

(1)

1,840

1,768

 

McKeesport PA Area School Dist. GO

0.000%

 

10/1/11

 

(1)

1,835

1,709

 

McKeesport PA Area School Dist. GO

0.000%

 

10/1/14

 

(1)

2,040

1,668

 

McKeesport PA Area School Dist. GO

0.000%

 

10/1/15

 

(1)

2,040

1,586

 

McKeesport PA Area School Dist. GO

0.000%

 

10/1/16

 

(1)

4,655

3,430

 

McKeesport PA Area School Dist. GO

0.000%

 

10/1/18

 

(2)(ETM)

425

301

 

McKeesport PA Area School Dist. GO

0.000%

 

10/1/18

 

(2)

2,650

1,757

 

Monroe County PA Hosp. Auth. Rev. (Pocono Medical Center)

5.000%

 

1/1/27

 

 

2,000

1,548

 

Monroe County PA Hosp. Auth. Rev. (Pocono Medical Center)

5.125%

 

1/1/37

 

 

3,000

2,150

 

Monroe County PA Hosp. Auth. Rev. (Pocono Medical Center)

5.250%

 

1/1/43

 

 

6,450

4,603

 

Montgomery County PA GO

5.000%

 

7/15/19

 

 

8,800

8,858

 

Montgomery County PA GO

5.000%

 

10/15/28

 

 

13,235

13,641

 

Montgomery County PA GO

5.000%

 

10/15/31

 

 

6,450

6,573

 

Montgomery County PA Higher Educ. & Health Auth. Rev. (Catholic Health East)

5.375%

 

11/15/14

 

(Prere.)

2,175

2,542

 

Montgomery County PA Higher Educ. & Health Auth. Rev. (Dickinson College)

5.000%

 

5/1/31

 

(11)

5,750

5,328

 

Montgomery County PA Higher Educ. & Health Auth. Rev. (Holy Redeemer Health System)

5.250%

 

1/1/36

 

 

17,500

11,431

 

 

 

 

 

 

Montgomery County PA IDA Rev. (Hill School)

5.000%

 

8/15/25

 

(1)

6,500

6,602

 

Montgomery County PA IDA Rev. (Hill School)

5.000%

 

8/15/26

 

(1)

3,550

3,586

 

Montgomery County PA IDA Rev. (Hill School)

5.000%

 

8/15/27

 

(1)

3,300

3,316

 

Moon Area School Dist. PA GO

5.000%

 

11/15/28

 

(4)

5,000

5,071

 

Mount Lebanon PA School Dist. GO

5.000%

 

2/15/13

 

(1)(Prere.)

9,280

10,414

 

North Pocono PA School Dist. GO

5.000%

 

3/15/26

 

(1)

4,035

4,030

 

Northampton County PA General Purpose Auth. Univ. Rev. (Saint Lukes Hosp. Project)

5.375%

 

8/15/28

 

 

5,000

4,162

 

Northampton County PA General Purpose Auth. Univ. Rev. (Saint Lukes Hosp. Project)

5.500%

 

8/15/35

 

 

2,500

1,991

 

Northampton County PA General Purpose Auth. Univ. Rev. (Saint Lukes Hosp. Project)

5.500%

 

8/15/40

 

 

5,000

3,916

 

Northeastern PA Hosp. & Educ. Health Rev. (Wyoming Valley Health)

5.250%

 

1/1/16

 

(2)

5,910

5,770

 

Northeastern PA Hosp. & Educ. Health Rev. (Wyoming Valley Health)

5.250%

 

1/1/26

 

(2)

2,850

2,363

 

Norwin PA School Dist. GO

3.250%

 

4/1/33

 

(4)

10,485

7,227

 

Owen J. Roberts School Dist. Pennsylvania GO

5.500%

 

8/15/17

 

(4)

1,495

1,640

 

Owen J. Roberts School Dist. Pennsylvania GO

5.000%

 

5/15/31

 

(4)

8,000

7,968

 

Owen J. Roberts School Dist. Pennsylvania GO

5.000%

 

5/15/35

 

(4)

5,000

4,935

 

Parkland PA School Dist. GO

5.375%

 

9/1/15

 

(1)

3,050

3,402

 

Parkland PA School Dist. GO

5.375%

 

9/1/16

 

(1)

2,000

2,238

 

 

 

 

 

 

Pennsbury PA School Dist. GO

5.250%

 

8/1/24

 

(4)

9,135

9,417

 

Pennsylvania GO

5.000%

 

10/1/10

 

(1)

22,485

23,856

 

Pennsylvania GO

6.000%

 

1/15/11

 

 

3,000

3,150

 

Pennsylvania GO

5.000%

 

8/1/11

 

 

17,000

18,434

 

Pennsylvania GO

5.250%

 

10/15/11

 

 

11,200

11,964

 

Pennsylvania GO

5.000%

 

8/1/12

 

 

20,705

22,943

 

Pennsylvania GO

5.500%

 

1/1/13

 

 

10,000

11,285

 

Pennsylvania GO

5.000%

 

7/1/13

 

(1)

3,690

4,143

 

Pennsylvania GO

5.000%

 

9/1/13

 

 

1,200

1,352

 

Pennsylvania GO

5.500%

 

2/1/14

 

(1)

2,000

2,289

 

Pennsylvania GO

5.000%

 

9/1/14

 

(4)

15,000

17,021

 

Pennsylvania GO

5.250%

 

7/1/15

 

 

25,000

28,851

 

Pennsylvania GO

5.000%

 

8/1/17

 

 

10,000

11,494

 

Pennsylvania GO

5.375%

 

7/1/21

 

 

16,000

18,387

 

Pennsylvania GO

5.000%

 

1/1/22

 

 

18,055

19,271

 

Pennsylvania GO

5.000%

 

1/1/26

 

 

40,450

41,796

 

Pennsylvania Higher Educ. Assistance Agency Rev.

6.125%

 

12/15/10

 

(1)(Prere.)

2,000

2,177

 

Pennsylvania Higher Educ. Fac. Auth. Rev.

5.500%

 

6/15/17

 

(2)

935

975

 

Pennsylvania Higher Educ. Fac. Auth. Rev.

5.625%

 

6/15/19

 

(2)

1,160

1,212

 

Pennsylvania Higher Educ. Fac. Auth. Rev.

5.000%

 

11/1/37

 

(12)

5,745

5,608

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Bryn Mawr College)

5.250%

 

12/1/12

 

(2)

11,120

12,431

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Bryn Mawr College)

5.000%

 

12/1/37

 

(2)

14,170

13,346

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Drexel Univ.)

5.000%

 

5/1/32

 

(1)

4,950

4,507

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Drexel Univ.)

5.000%

 

5/1/37

 

(1)

2,300

2,183

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Foundation for Indiana Univ. of Pennsylvania Student Housing)

1.412%

 

7/1/17

 

(10)

6,500

4,519

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Foundation for Indiana Univ. of Pennsylvania Student Housing)

5.125%

 

7/1/39

 

(10)

17,130

11,670

 

 

 

 

 

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (La Salle Univ.)

5.250%

 

5/1/27

 

 

3,000

2,420

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (La Salle Univ.)

5.000%

 

5/1/37

 

 

3,250

2,326

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Philadelphia Univ.)

5.125%

 

6/1/25

 

 

3,500

2,710

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Philadelphia Univ.)

5.250%

 

6/1/32

 

 

6,350

4,623

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Slippery Rock Univ. Foundation)

5.000%

 

7/1/31

 

(10)

10,460

7,383

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Slippery Rock Univ. Foundation)

5.000%

 

7/1/37

 

(10)

3,500

2,361

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Slippery Rock Univ. Foundation)

5.000%

 

7/1/39

 

(10)

10,000

6,669

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Temple Univ.)

5.250%

 

4/1/11

 

(1)

1,225

1,241

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Temple Univ.)

5.000%

 

4/1/23

 

(1)

12,200

12,462

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Temple Univ.)

5.000%

 

4/1/24

 

(1)

12,680

12,853

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Thomas Jefferson Univ.)

5.375%

 

1/1/13

 

(Prere.)

4,435

5,019

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Thomas Jefferson Univ.)

5.000%

 

9/1/39

 

(2)

9,000

8,426

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Univ. of Scranton)

5.000%

 

11/1/28

 

(10)

4,080

3,965

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (UPMC Health Systems)

6.250%

 

1/15/16

 

 

3,120

3,383

 

 

 

 

 

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (UPMC Health Systems)

6.000%

 

1/15/22

 

 

5,000

5,096

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (UPMC Health Systems)

6.000%

 

1/15/31

 

 

5,000

5,046

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Widener)

5.000%

 

7/15/20

 

 

2,360

2,044

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Widener)

5.000%

 

7/15/26

 

 

1,200

948

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Widener)

5.400%

 

7/15/36

 

 

3,000

2,297

 

Pennsylvania Higher Educ. Fac. Auth. Rev. (Widener)

5.000%

 

7/15/39

 

 

3,000

2,123

 

Pennsylvania Higher Educ. Fac. Auth. Rev. PUT

5.000%

 

5/1/11

 

LOC

9,120

9,377

 

Pennsylvania Housing Finance Agency Rev.

5.400%

 

10/1/33

 

 

25,000

24,564

 

Pennsylvania IDA Rev. (Econ. Dev.)

5.500%

 

7/1/12

 

(2)(Prere.)

575

650

 

Pennsylvania IDA Rev. (Econ. Dev.)

5.500%

 

7/1/17

 

(2)

7,000

7,452

 

Pennsylvania IDA Rev. (Econ. Dev.)

5.500%

 

7/1/18

 

(2)

7,630

8,080

 

Pennsylvania IDA Rev. (Econ. Dev.)

5.500%

 

7/1/19

 

(2)

10,040

10,565

 

Pennsylvania IDA Rev. (Econ. Dev.)

5.500%

 

7/1/20

 

(2)

4,495

4,705

 

Pennsylvania IDA Rev. (Econ. Dev.)

5.500%

 

7/1/21

 

(2)

8,130

8,465

 

Pennsylvania IDA Rev. (Econ. Dev.)

5.500%

 

7/1/23

 

 

20,000

20,844

 

Pennsylvania Intergovernmental Cooperation Auth. Rev.

5.250%

 

6/15/17

 

(1)

7,830

7,904

 

Pennsylvania Intergovernmental Cooperation Auth. Rev. VRDO

1.400%

 

3/6/09

 

(4)

17,600

17,600

 

Pennsylvania Public School Building Auth. Lease Rev. (School Dist. of Philadelphia)

5.000%

 

6/1/27

 

(4)

12,880

12,953

 

Pennsylvania State Univ. Rev.

5.250%

 

8/15/12

 

 

5,980

6,668

 

 

 

 

 

 

Pennsylvania State Univ. Rev.

5.000%

 

9/1/24

 

 

3,000

3,111

 

Pennsylvania State Univ. Rev.

5.000%

 

9/1/24

 

 

10,625

10,964

 

Pennsylvania State Univ. Rev.

5.250%

 

8/15/25

 

 

5,360

5,910

 

Pennsylvania State Univ. Rev.

5.000%

 

9/1/29

 

 

7,625

7,698

 

Pennsylvania State Univ. Rev.

5.000%

 

9/1/29

 

 

2,500

2,528

 

Pennsylvania Turnpike Comm. Oil Franchise Tax Rev.

5.000%

 

12/1/13

 

(1)(Prere.)

6,000

6,836

 

Pennsylvania Turnpike Comm. Oil Franchise Tax Rev.

5.000%

 

12/1/26

 

(2)

4,000

3,935

 

Pennsylvania Turnpike Comm. Oil Franchise Tax Rev.

5.000%

 

12/1/27

 

(2)

3,000

2,918

 

Pennsylvania Turnpike Comm. Registration Fee Rev. VRDO

1.350%

 

3/6/09

 

(4)

8,475

8,475

 

Pennsylvania Turnpike Comm. Rev.

3.000%

 

6/1/10

 

(12)

4,000

4,085

 

Pennsylvania Turnpike Comm. Rev.

5.375%

 

7/15/11

 

(2)(Prere.)

1,505

1,661

 

Pennsylvania Turnpike Comm. Rev.

5.375%

 

7/15/11

 

(2)(Prere.)

2,500

2,759

 

Pennsylvania Turnpike Comm. Rev.

5.375%

 

7/15/11

 

(2)(Prere.)

1,000

1,104

 

Pennsylvania Turnpike Comm. Rev.

3.000%

 

6/1/12

 

(12)

2,015

2,070

 

Pennsylvania Turnpike Comm. Rev.

5.625%

 

6/1/12

 

(1)

9,000

9,767

 

Pennsylvania Turnpike Comm. Rev.

3.000%

 

6/1/13

 

(12)

2,500

2,554

 

Pennsylvania Turnpike Comm. Rev.

4.000%

 

6/1/14

 

(12)

1,565

1,660

 

Pennsylvania Turnpike Comm. Rev.

5.250%

 

7/15/27

 

(4)

4,000

4,346

 

Pennsylvania Turnpike Comm. Rev.

5.375%

 

6/1/28

 

 

12,785

13,069

 

Pennsylvania Turnpike Comm. Rev.

5.250%

 

7/15/28

 

(4)

9,375

10,125

 

 

 

 

 

 

Pennsylvania Turnpike Comm. Rev.

5.500%

 

12/1/31

 

(2)

17,610

17,930

 

Pennsylvania Turnpike Comm. Rev.

5.250%

 

12/1/32

 

(2)

15,000

14,898

 

Pennsylvania Turnpike Comm. Rev.

5.500%

 

6/1/33

 

 

12,920

13,097

 

Pennsylvania Turnpike Comm. Rev.

5.250%

 

6/1/36

 

 

12,435

12,292

 

Pennsylvania Turnpike Comm. Rev.

5.000%

 

6/1/38

 

(12)

6,340

6,311

 

Pennsylvania Turnpike Comm. Rev.

6.250%

 

6/1/38

 

(12)

19,595

21,467

 

Pennsylvania Turnpike Comm. Rev.

5.000%

 

6/1/39

 

(12)

21,625

21,390

 

Philadelphia PA Airport Parking Auth.

5.000%

 

9/1/13

 

 

3,260

3,478

 

Philadelphia PA Airport Parking Auth.

5.125%

 

2/15/24

 

(2)

1,045

1,024

 

Philadelphia PA Airport Parking Auth.

5.250%

 

9/1/29

 

(4)

3,530

3,401

 

Philadelphia PA Gas Works Rev.

5.250%

 

7/1/11

 

(4)

3,965

3,975

 

Philadelphia PA Gas Works Rev.

5.250%

 

8/1/11

 

(4)(Prere.)

8,000

8,735

 

Philadelphia PA Gas Works Rev.

5.375%

 

7/1/12

 

(4)

4,000

4,009

 

Philadelphia PA Gas Works Rev.

5.375%

 

7/1/14

 

(4)

4,310

4,318

 

Philadelphia PA Gas Works Rev.

5.375%

 

7/1/16

 

(4)

13,280

14,935

 

Philadelphia PA Gas Works Rev.

5.375%

 

7/1/18

 

(4)

11,555

12,989

 

Philadelphia PA Gas Works Rev.

5.000%

 

10/1/37

 

(2)

3,000

2,462

 

Philadelphia PA GO

5.250%

 

3/15/09

 

(4)(Prere.)

1,750

1,772

 

Philadelphia PA GO

5.250%

 

3/15/09

 

(4)(Prere.)

2,600

2,632

 

Philadelphia PA GO

5.250%

 

3/15/11

 

(4)(Prere.)

7,460

8,054

 

Philadelphia PA GO

5.250%

 

3/15/11

 

(4)(Prere.)

4,775

5,155

 

Philadelphia PA GO

5.250%

 

3/15/11

 

(4)(Prere.)

9,155

9,884

 

Philadelphia PA GO

5.250%

 

3/15/11

 

(4)(Prere.)

2,135

2,305

 

Philadelphia PA GO

5.000%

 

12/15/17

 

(4)

5,555

6,061

 

Philadelphia PA GO

5.000%

 

8/1/18

 

(1)

6,170

6,267

 

Philadelphia PA GO

5.000%

 

8/1/19

 

(1)

7,735

7,776

 

Philadelphia PA GO

5.000%

 

8/1/20

 

(1)

8,005

7,922

 

Philadelphia PA GO

5.000%

 

8/1/21

 

(1)

6,235

6,080

 

 

 

 

 

 

Philadelphia PA GO

5.000%

 

8/1/27

 

(11)

12,160

11,041

 

Philadelphia PA GO

7.125%

 

7/15/38

 

(12)

3,500

3,849

 

Philadelphia PA Hosp. & Higher Educ. Fac. Auth. Rev. (Children's Hosp. of Philadelphia) VRDO

0.500%

 

3/2/09

 

 

8,700

8,700

 

Philadelphia PA Hosp. & Higher Educ. Fac. Auth. Rev. (Jefferson Health System)

5.125%

 

5/15/18

 

(2)

5,700

5,743

 

Philadelphia PA Hosp. & Higher Educ. Fac. Auth. Rev. (Temple University Health System)

5.500%

 

7/1/30

 

 

5,000

3,153

 

Philadelphia PA IDA Rev. (Philadelphia Airport System)

5.750%

 

6/15/10

 

(1)

4,440

4,486

 

Philadelphia PA IDA Rev. (Philadelphia Airport System)

5.250%

 

6/15/15

 

(1)

5,695

5,721

 

Philadelphia PA Redev. Auth. Rev.

5.500%

 

4/15/15

 

(1)

3,000

3,126

 

Philadelphia PA Redev. Auth. Rev.

5.500%

 

4/15/17

 

(1)

2,255

2,328

 

Philadelphia PA Redev. Auth. Rev.

5.500%

 

4/15/19

 

(1)

2,815

2,877

 

Philadelphia PA Redev. Auth. Rev.

5.500%

 

4/15/20

 

(1)

2,000

2,032

 

Philadelphia PA Redev. Auth. Rev.

5.500%

 

4/15/22

 

(1)

5,275

5,306

 

Philadelphia PA School Dist. GO

5.250%

 

2/1/12

 

(4)

1,000

1,096

 

Philadelphia PA School Dist. GO

5.500%

 

2/1/12

 

(4)(Prere.)

1,800

1,997

 

Philadelphia PA School Dist. GO

5.500%

 

2/1/12

 

(4)(Prere.)

2,000

2,218

 

Philadelphia PA School Dist. GO

5.500%

 

2/1/12

 

(4)(Prere.)

2,000

2,218

 

Philadelphia PA School Dist. GO

5.500%

 

2/1/12

 

(4)(Prere.)

6,200

6,877

 

Philadelphia PA School Dist. GO

5.500%

 

2/1/12

 

(4)(Prere.)

2,500

2,773

 

Philadelphia PA School Dist. GO

5.500%

 

2/1/12

 

(4)(Prere.)

1,000

1,109

 

Philadelphia PA School Dist. GO

5.625%

 

8/1/12

 

(3)(Prere.)

1,000

1,130

 

Philadelphia PA School Dist. GO

5.625%

 

8/1/12

 

(3)(Prere.)

6,500

7,346

 

Philadelphia PA School Dist. GO

5.625%

 

8/1/12

 

(3)(Prere.)

6,000

6,781

 

 

 

 

 

 

Philadelphia PA School Dist. GO

5.625%

 

8/1/12

 

(3)(Prere.)

1,000

1,130

 

Philadelphia PA School Dist. GO

5.625%

 

8/1/12

 

(3)(Prere.)

10,235

11,567

 

Philadelphia PA School Dist. GO

5.625%

 

8/1/12

 

(3)(Prere.)

3,500

3,955

 

Philadelphia PA School Dist. GO

5.000%

 

6/1/26

 

(1)

5,000

4,994

 

Philadelphia PA School Dist. GO

6.000%

 

9/1/38

 

 

20,000

20,868

 

Philadelphia PA Water & Waste Water Rev.

7.000%

 

6/15/10

 

(1)

33,865

35,917

 

Philadelphia PA Water & Waste Water Rev.

7.000%

 

6/15/11

 

(1)

35,685

39,154

 

Philadelphia PA Water & Waste Water Rev.

6.250%

 

8/1/11

 

(1)

3,750

4,069

 

Philadelphia PA Water & Waste Water Rev.

5.250%

 

11/1/16

 

(1)

5,040

5,279

 

Philadelphia PA Water & Waste Water Rev.

5.250%

 

11/1/17

 

(1)

5,460

5,685

 

Philadelphia PA Water & Waste Water Rev.

5.600%

 

8/1/18

 

(1)(ETM)

925

1,069

 

Philadelphia PA Water & Waste Water Rev.

5.375%

 

11/1/19

 

(1)

4,155

4,413

 

Pittsburgh PA GO

5.500%

 

3/1/12

 

(2)(Prere.)

2,015

2,245

 

Pittsburgh PA GO

5.500%

 

3/1/12

 

(2)(Prere.)

5,330

5,939

 

Pittsburgh PA GO

5.500%

 

9/1/13

 

(2)

5,635

5,710

 

Pittsburgh PA GO

5.500%

 

9/1/14

 

(2)

12,000

12,861

 

Pittsburgh PA GO

5.500%

 

9/1/15

 

(2)

2,125

2,137

 

Pittsburgh PA School Dist. GO

0.000%

 

8/1/09

 

(2)

4,000

3,972

 

Pittsburgh PA School Dist. GO

5.375%

 

9/1/14

 

(4)

1,755

1,983

 

Pittsburgh PA School Dist. GO

5.500%

 

9/1/16

 

(4)

4,000

4,582

 

Pittsburgh PA School Dist. GO

5.500%

 

9/1/18

 

(4)

2,880

3,292

 

Pittsburgh PA Water & Sewer Auth. Rev.

5.125%

 

6/1/12

 

(2)(Prere.)

3,000

3,306

 

Pittsburgh PA Water & Sewer Auth. Rev.

7.250%

 

9/1/14

 

(3)(ETM)

17,070

19,667

 

Pittsburgh PA Water & Sewer Auth. Rev.

0.000%

 

9/1/27

 

(3)(ETM)

1,935

745

 

Pittsburgh PA Water & Sewer Auth. Rev.

0.000%

 

9/1/27

 

(3)

10,830

3,356

 

Pittsburgh PA Water & Sewer Auth. Rev.

0.000%

 

9/1/28

 

(3)(ETM)

1,365

494

 

 

 

 

 

 

Pittsburgh PA Water & Sewer Auth. Rev.

0.000%

 

9/1/28

 

(3)

7,600

2,175

 

Pittsburgh PA Water & Sewer Auth. Rev.

0.000%

 

9/1/29

 

(3)(ETM)

4,725

1,613

 

Pittsburgh PA Water & Sewer Auth. Rev.

0.000%

 

9/1/29

 

(3)

26,930

7,178

 

Pocono Mountain PA School Dist. GO

5.000%

 

9/1/31

 

(4)

9,000

8,904

 

Radnor Township PA School Dist.

5.000%

 

8/15/15

 

(4)(Prere.)

835

965

 

Radnor Township PA School Dist.

5.000%

 

2/15/35

 

(4)

1,665

1,644

 

Reading PA School Dist. GO

0.000%

 

1/15/15

 

(1)

9,260

6,985

 

Reading PA School Dist. GO

0.000%

 

1/15/16

 

(1)

9,270

6,597

 

Reading PA School Dist. GO

5.000%

 

1/15/29

 

(4)

6,120

6,134

 

Sayre PA Health Care Fac. Auth. Rev. (Guthrie Health Care System)

5.750%

 

12/1/11

 

(Prere.)

2,225

2,490

 

Sayre PA Health Care Fac. Auth. Rev. (Guthrie Health Care System)

5.875%

 

12/1/11

 

(Prere.)

9,660

10,842

 

Sayre PA Health Care Fac. Auth. Rev. (Guthrie Health Care System)

6.250%

 

12/1/11

 

(Prere.)

1,480

1,676

 

Sayre PA Health Care Fac. Auth. Rev. (Guthrie Health Care System)

6.250%

 

12/1/11

 

(Prere.)

1,425

1,614

 

Sayre PA Health Care Fac. Auth. Rev. (Guthrie Health Care System)

6.250%

 

12/1/11

 

(Prere.)

1,515

1,716

 

Sayre PA Health Care Fac. Auth. Rev. (Guthrie Health Care System)

6.250%

 

12/1/11

 

(Prere.)

2,390

2,706

 

Sayre PA Health Care Fac. Auth. Rev. (Guthrie Health Care System)

6.250%

 

12/1/11

 

(Prere.)

4,915

5,566

 

Sayre PA Health Care Fac. Auth. Rev. (Guthrie Health Care System)

6.250%

 

12/1/11

 

(Prere.)

1,850

2,095

 

Sayre PA Health Care Fac. Auth. Rev. (Guthrie Health Care System)

6.250%

 

12/1/13

 

 

520

546

 

 

 

 

 

 

Sayre PA Health Care Fac. Auth. Rev. (Guthrie Health Care System)

6.250%

 

12/1/14

 

 

500

522

 

Sayre PA Health Care Fac. Auth. Rev. (Guthrie Health Care System)

6.250%

 

12/1/15

 

 

530

550

 

Sayre PA Health Care Fac. Auth. Rev. (Guthrie Health Care System)

6.250%

 

12/1/16

 

 

835

866

 

Sayre PA Health Care Fac. Auth. Rev. (Guthrie Health Care System)

6.250%

 

12/1/17

 

 

1,725

1,784

 

Sayre PA Health Care Fac. Auth. Rev. (Guthrie Health Care System)

6.250%

 

12/1/18

 

 

650

669

 

Sayre PA Health Care Fac. Auth. Rev. (Guthrie Health Care System)

5.750%

 

12/1/21

 

 

775

762

 

Sayre PA Health Care Fac. Auth. Rev. (Guthrie Health Care System)

5.875%

 

12/1/31

 

 

2,840

2,517

 

Scranton PA School Dist. GO

5.250%

 

6/15/27

 

(10)

2,750

2,770

 

Scranton PA School Dist. GO

5.250%

 

6/15/31

 

(10)

2,375

2,332

 

Scranton-Lackawanna PA Health & Welfare Auth. Rev. (Mercy Health System)

5.625%

 

1/1/16

 

(1)

5,490

5,476

 

Scranton-Lackawanna PA Health & Welfare Auth. Rev. (Mercy Health System)

5.700%

 

1/1/23

 

(1)

9,205

8,336

 

Scranton-Lackawanna PA Health & Welfare Auth. Rev. (Univ. of Scranton)

5.000%

 

11/1/32

 

(10)

3,850

3,645

 

Scranton-Lackawanna PA Health & Welfare Auth. Rev. (Univ. of Scranton)

5.000%

 

11/1/37

 

(10)

5,100

4,790

 

Shamokin-Coal Township PA

5.000%

 

7/1/30

 

(4)

5,700

5,469

 

 

 

 

 

 

Shamokin-Coal Township PA

5.000%

 

7/1/36

 

(4)

8,500

7,959

 

Snyder County PA Higher Educ. Auth. Univ. Rev. (Susquehanna Univ. Project)

5.000%

 

1/1/30

 

(11)

5,000

4,587

 

Somerset PA Area School Dist. GO

5.000%

 

3/15/25

 

(4)

7,090

7,268

 

South Fork PA Hosp. Auth. Rev. (Conemaugh Valley Hosp.)

5.625%

 

7/1/10

 

(6)

860

888

 

South Fork PA Hosp. Auth. Rev. (Conemaugh Valley Hosp.)

5.750%

 

7/1/18

 

(6)

7,000

8,008

 

Southcentral Pennsylvania General Auth. Rev. (Wellspan Health)

6.000%

 

6/1/25

 

 

20,000

20,769

 

State Public School Building Auth. Pennsylvania School Rev. (Daniel Boone School Dist.)

5.000%

 

4/1/13

 

(1)(Prere.)

10,000

11,241

 

State Public School Building Auth. Pennsylvania School Rev. (Philadelphia School Dist.)

5.000%

 

6/1/13

 

(4)(Prere.)

30,800

34,761

 

State Public School Building Auth. Pennsylvania School Rev. (Philadelphia School Dist.)

5.250%

 

6/1/13

 

(4)(Prere.)

9,280

10,568

 

Swarthmore Borough Auth. PA College Rev.

5.000%

 

9/15/30

 

 

21,000

21,131

 

Uniontown PA Area School Dist. GO

5.500%

 

10/1/12

 

(4)(Prere.)

9,950

11,289

 

Warwick PA School Dist. GO

5.375%

 

8/15/11

 

(3)(Prere.)

2,435

2,671

 

Warwick PA School Dist. GO

5.375%

 

8/15/11

 

(3)(Prere.)

2,570

2,819

 

Washington County PA Hosp. Auth. Rev. (Washington Hosp.)

5.250%

 

7/1/10

 

(2)

1,750

1,773

 

Washington County PA Hosp. Auth. Rev. (Washington Hosp.)

5.125%

 

7/1/11

 

(2)(ETM)

330

334

 

 

 

 

 

 

Washington County PA Hosp. Auth. Rev. (Washington Hosp.)

5.125%

 

7/1/11

 

(2)

1,510

1,580

 

Washington County PA Hosp. Auth. Rev. (Washington Hosp.)

5.125%

 

7/1/12

 

(2)

1,935

1,957

 

Washington County PA Hosp. Auth. Rev. (Washington Hosp.)

5.250%

 

7/1/13

 

(2)

2,035

2,053

 

Washington County PA Hosp. Auth. Rev. (Washington Hosp.)

5.375%

 

7/1/14

 

(2)

1,640

1,653

 

Washington County PA Hosp. Auth. Rev. (Washington Hosp.)

5.375%

 

7/1/15

 

(2)

2,250

2,261

 

Washington County PA Hosp. Auth. Rev. (Washington Hosp.)

5.500%

 

7/1/16

 

(2)

2,375

2,384

 

West Chester PA Area School Dist. GO

4.500%

 

5/15/27

 

(4)

17,500

17,116

 

West Chester PA Area School Dist. GO

5.000%

 

5/15/28

 

(1)

7,480

7,586

 

West Cornwall Township PA Muni. Auth. College Rev. (Elizabethtown College)

6.000%

 

12/15/11

 

(Prere.)

2,650

2,969

 

West Cornwall Township PA Muni. Auth. College Rev. (Elizabethtown College)

6.000%

 

12/15/11

 

(Prere.)

2,000

2,241

 

West Jefferson Hills PA School Dist. GO

5.200%

 

8/1/11

 

(4)(Prere.)

1,020

1,113

 

West Jefferson Hills PA School Dist. GO

5.200%

 

8/1/11

 

(4)(Prere.)

1,080

1,179

 

West Jefferson Hills PA School Dist. GO

5.200%

 

8/1/17

 

(4)

935

996

 

West Jefferson Hills PA School Dist. GO

5.200%

 

8/1/18

 

(4)

980

1,033

 

Westmoreland County PA Muni. Auth. Rev.

5.250%

 

8/15/15

 

(4)(Prere.)

3,490

4,061

 

Westmoreland County PA Muni. Auth. Rev.

6.125%

 

7/1/17

 

(1)(ETM)

7,795

9,223

 

 

 

 

 

 

Westmoreland County PA Muni. Auth. Service Water Rev.

0.000%

 

8/15/15

 

(3)

5,000

3,799

 

Westmoreland County PA Muni. Auth. Service Water Rev.

0.000%

 

8/15/23

 

(1)

5,000

2,288

 

Westmoreland County PA Muni. Auth. Service Water Rev.

0.000%

 

8/15/24

 

(1)

4,000

1,533

 

Wilkes-Barre PA Finance Auth. Rev. (Wilkes Univ. Project)

5.000%

 

3/1/27

 

 

2,200

1,721

 

Wilkes-Barre PA Finance Auth. Rev. (Wilkes Univ. Project)

5.000%

 

3/1/37

 

 

3,000

2,149

 

Wyoming PA Area School Dist.

5.000%

 

9/1/26

 

(1)

2,000

1,968

 

Wyoming PA Area School Dist.

5.000%

 

9/1/29

 

(1)

5,125

4,879

 

York County PA

5.000%

 

6/1/33

 

(1)

6,000

5,941

 

York County PA Solid Waste & Refuse Auth. Rev.

5.500%

 

12/1/13

 

(1)

6,750

7,524

 

York County PA Solid Waste & Refuse Auth. Rev.

5.500%

 

12/1/14

 

(1)

4,050

4,522

 

 

 

 

 

 

 

 

2,404,520

Puerto Rico (3.9%)

 

Puerto Rico Electric Power Auth. Rev.

5.500%

 

7/1/20

 

 

5,300

5,223

 

Puerto Rico Electric Power Auth. Rev.

5.250%

 

7/1/21

 

(1)

5,000

4,789

 

Puerto Rico GO

5.500%

 

7/1/18

 

(1)

10,000

9,529

 

Puerto Rico GO

5.500%

 

7/1/20

 

(3)

6,000

5,591

 

Puerto Rico GO

5.500%

 

7/1/22

 

(3)

8,960

8,235

 

Puerto Rico Highway & Transp. Auth. Rev.

5.500%

 

7/1/19

 

(1)

17,000

16,100

 

Puerto Rico Highway & Transp. Auth. Rev.

5.500%

 

7/1/20

 

(1)

14,610

13,728

 

Puerto Rico Infrastructure Financing Auth. Special Tax Rev.

5.500%

 

7/1/23

 

(2)

10,000

9,206

 

Puerto Rico Infrastructure Financing Auth. Special Tax Rev.

0.000%

 

7/1/30

 

(3)

14,905

2,889

 

 

Pennsylvania Long-Term Tax-Exempt Fund

 

 

 

Puerto Rico Infrastructure Financing Auth. Special Tax Rev.

0.000%

 

7/1/31

 

(3)

28,695

5,144

 

Puerto Rico Public Buildings Auth. Govt. Fac. Rev.

5.750%

 

7/1/22

 

(ETM)

10

12

 

Puerto Rico Public Buildings Auth. Govt. Fac. Rev.

5.750%

 

7/1/22

 

 

4,990

4,697

 

Puerto Rico Public Finance Corp.

6.000%

 

8/1/26

 

(ETM)

10,875

12,615

 

 

 

 

 

 

 

 

97,758

Virgin Islands (0.1%)

 

Virgin Islands Public Finance Auth. Rev.

5.000%

 

10/1/12

 

 

2,000

1,980

 

Virgin Islands Public Finance Auth. Rev.

5.250%

 

10/1/20

 

 

1,750

1,554

 

 

 

 

 

 

 

 

3,534

Total Tax-Exempt Municipal Bonds (Cost $2,554,057)

 

2,505,812

Other Assets and Liabilities-Net (1.0%)

 

24,990

Net Assets (100%)

 

2,530,802

 

 

Pennsylvania Long-Term Tax-Exempt Fund

 

Key to Abbreviations

 

ARS - Auction Rate Security.

BAN - Bond Anticipation Note.

COP - Certificate of Participation.

CP - Commercial Paper.

FR - Floating Rate.

GAN - Grant Anticipation Note.

GO - General Obligation Bond.

IDA - Industrial Development Authority Bond.

IDR - Industrial Development Revenue Bond.

PCR - Pollution Control Revenue Bond.

PUT - Put Option Obligation.

RAN - Revenue Anticipation Note.

TAN - Tax Anticipation Note.

TOB - Tender Option Bond.

TRAN - Tax Revenue Anticipation Note.

UFSD - Union Free School District.

USD - United School District.

VRDO - Variable Rate Demand Obligation.

(ETM) - Escrowed to Maturity.

(Prere.) - Prerefunded.

 

Scheduled principal and interest payments are guaranteed by:

(1) MBIA (Municipal Bond Insurance Association).

(2) AMBAC (Ambac Assurance Corporation).

(3) FGIC (Financial Guaranty Insurance Company).

(4) FSA (Financial Security Assurance).

(5) BIGI (Bond Investors Guaranty Insurance).

(6) Connie Lee Inc.

(7) FHA (Federal Housing Authority).

(8) CapMAC (Capital Markets Assurance Corporation).

(9) American Capital Access Financial Guaranty Corporation.

(10) XL Capital Assurance Inc.

(11) CIFG (CDC IXIS Financial Guaranty).

(12) Assured Guaranty Corp.

(13) National Indemnity Co. (Berkshire Hathaway).

The insurance does not guarantee the market value of the municipal bonds.

 

LOC - Scheduled principal and interest payments are guaranteed by bank letter of credit.

 

 

Pennsylvania Long-Term Tax-Exempt Fund

 

 

 

Security Valuation: Bonds, and temporary cash investments acquired over 60 days to maturity, are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Other temporary cash investments are valued at amortized cost, which approximates market value. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value.

At February 28, 2009, the cost of investment securities for tax purposes was $2,555,591,000. Net unrealized depreciation of investment securities for tax purposes was $49,779,000, consisting of unrealized gains of $68,485,000 on securities that had risen in value since their purchase and $118,264,000 in unrealized losses on securities that had fallen in value since their purchase.

Futures Contracts: The fund is subject to interest rate risk in the normal course of pursuing its investment objectives. The fund uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced, or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds held by the fund and the prices of futures contracts, and the possibility of an illiquid market.

Futures contracts are valued based upon their quoted daily settlement prices. The aggregate principal amounts of the contracts are not recorded in the Statement of Net Assets. Fluctuations in the value of the contracts are recorded in the Statement of Net Assets as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized futures gains (losses). As of February 28, 2009, the fund has no open futures contracts.

In September 2006, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 157 (“FAS 157”), “Fair Value Measurements.” FAS 157 establishes a framework for measuring fair value and expands disclosures about fair value measurements in financial statements.

The various inputs that may be used to determine the value of the fund's investments are summarized in three broad levels. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.

Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3—Significant unobservable inputs (including the fund's own assumptions used to determine the fair value of investments).

At February 28, 2009, 100% of the fund's investments were valued based on Level 2 inputs.

 

 

 

Item 2: Controls and Procedures.

(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.

(b) Internal Control Over Financial Reporting. During the last fiscal quarter, there was no significant change in the Registrant’s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3:

 Exhibits.
(a) Certifications.

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.

VANGUARD PENNSYLVANIA TAX-FREE FUNDS       

BY: /s/ F. WILLIAM MCNABB III*
F. WILLIAM MCNABB III
CHIEF EXECUTIVE OFFICER

Date: April 20, 2009

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

VANGUARD PENNSYLVANIA TAX-FREE FUNDS       

BY: /s/ F. WILLIAM MCNABB III*
F. WILLIAM MCNABB III
CHIEF EXECUTIVE OFFICER

Date: April 20, 2009

VANGUARD PENNSYLVANIA TAX-FREE FUNDS       

BY: /s/THOMAS J. HIGGINS*
THOMAS J. HIGGINS
CHIEF FINANCIAL OFFICER

Date: April 20, 2009

* By: /s/ Heidi Stam

Heidi Stam, pursuant to a Power of Attorney filed on January 18, 2008, see file Number2-29601, Incorporated by Reference; and pursuant to a Power of Attorney filed on September 26, 2008, see File Number 2-47371, Incorporated by Reference.