N-Q 1 main.htm

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

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-4707

Fidelity Advisor Series II
 (Exact name of registrant as specified in charter)

245 Summer St., Boston, Massachusetts 02210
 (Address of principal executive offices)       (Zip code)

Scott C. Goebel, Secretary

245 Summer St.

Boston, Massachusetts 02210
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-563-7000

Date of fiscal year end:

October 31

 

 

Date of reporting period:

January 31, 2013

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity Advisor ®
Municipal Income Fund
Class A
Class T
Class B
Class C
Institutional Class

January 31, 2013 

1.813061.108

HIM-QTLY-0313

Investments January 31, 2013 (Unaudited)

Showing Percentage of Net Assets

Municipal Bonds - 99.4%

 

Principal Amount

Value

Alabama - 0.1%

Univ. of Alabama at Birmingham Hosp. Rev. Series 2008 A, 5.75% 9/1/22

$ 1,000,000

$ 1,188,080

Arizona - 2.5%

Arizona Ctfs. of Partnership Series 2010 A:

5% 10/1/18 (FSA Insured)

1,000,000

1,186,700

5.25% 10/1/20 (FSA Insured)

1,600,000

1,916,976

5.25% 10/1/21 (FSA Insured)

850,000

1,014,892

5.25% 10/1/26 (FSA Insured)

500,000

584,475

5.25% 10/1/28 (FSA Insured)

1,600,000

1,855,424

Arizona Health Facilities Auth. Rev. (Banner Health Sys. Proj.) Series 2008 D, 5.5% 1/1/38

2,300,000

2,532,852

Arizona State Lottery Rev. Series 2010 A, 5% 7/1/21 (FSA Insured)

1,200,000

1,417,524

Arizona State Univ. Ctfs. of Partnership (Research Infrastructure Proj.) 5.25% 9/1/23

1,000,000

1,057,720

Glendale Indl. Dev. Auth. Hosp. Rev. (John C. Lincoln Health Network Proj.) 5% 12/1/29

1,575,000

1,623,337

Goodyear McDowell Road Commercial Corridor Impt. District 5.25% 1/1/15 (AMBAC Insured)

1,425,000

1,522,484

Maricopa County Poll. Cont. Rev. (Southern California Edison Co. Proj.) Series 2000 A, 5% 6/1/35

700,000

782,124

McAllister Academic Village LLC Rev. (Arizona State Univ. Hassayampa Academic Village Proj.) Series 2008, 5.25% 7/1/39

1,000,000

1,124,220

Phoenix Civic Impt. Board Arpt. Rev. Series B, 5% 7/1/13 (d)

2,000,000

2,037,900

Phoenix Civic Impt. Corp. District Rev. (Plaza Expansion Proj.) Series 2005 B, 0% 7/1/38 (Nat'l. Pub. Fin. Guarantee Corp. Insured) (a)

1,620,000

1,963,894

Phoenix Civic Impt. Corp. Wtr. Sys. Rev. Series 2005, 5% 7/1/29

2,000,000

2,170,700

Phoenix Indl. Dev. Auth. Single Family Mtg. Rev. 0% 12/1/14 (Escrowed to Maturity)

3,750,000

3,716,700

Pima County Swr. Sys. Rev. Series 2012 A, 5% 7/1/26

500,000

595,865

Salt Verde Finl. Corp. Sr. Gas Rev.:

Series 2007, 5.5% 12/1/29

1,000,000

1,218,220

5.25% 12/1/22

1,500,000

1,776,810

Scottsdale Indl. Dev. Auth. Hosp. Rev. (Scottsdale Healthcare Proj.) Series 2006 C, 5% 9/1/35 (FSA Insured)

205,000

226,876

 

30,325,693

Municipal Bonds - continued

 

Principal Amount

Value

California - 17.6%

Bay Area Toll Auth. San Francisco Bay Toll Bridge Rev. Series 2009 F1, 5.625% 4/1/44

$ 1,600,000

$ 1,863,712

California Dept. of Wtr. Resources:

(Central Valley Proj.) Series AL, 5% 12/1/19

2,500,000

3,111,200

Series AI, 5% 12/1/16

3,400,000

3,951,820

California Dept. of Wtr. Resources Pwr. Supply Rev. Series 2010 L, 5% 5/1/21

5,000,000

6,123,050

California Econ. Recovery Series A, 5% 7/1/18

1,400,000

1,693,132

California Gen. Oblig.:

Series 2007, 5.625% 5/1/20

30,000

30,124

5% 11/1/24

2,400,000

2,775,672

5% 6/1/27 (AMBAC Insured)

600,000

639,840

5% 9/1/27

1,410,000

1,575,788

5% 3/1/31

1,800,000

1,967,418

5% 9/1/31

1,500,000

1,661,490

5% 12/1/31 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

845,000

883,101

5% 9/1/32

1,600,000

1,766,992

5% 9/1/33

1,800,000

1,981,980

5% 9/1/35

580,000

634,862

5.125% 11/1/24

600,000

618,258

5.25% 2/1/16

345,000

353,076

5.25% 2/1/16 (Pre-Refunded to 8/1/13 @ 100)

655,000

671,185

5.25% 2/1/24

1,000,000

1,020,770

5.25% 2/1/28

1,200,000

1,224,456

5.25% 12/1/33

20,000

20,975

5.25% 4/1/35

2,200,000

2,589,774

5.25% 3/1/38

3,900,000

4,419,792

5.25% 11/1/40

700,000

817,495

5.5% 8/1/27

2,100,000

2,498,307

5.5% 8/1/29

2,800,000

3,307,024

5.5% 8/1/30

2,000,000

2,350,800

5.5% 11/1/33

5,400,000

5,595,966

5.5% 3/1/40

1,000,000

1,177,740

5.6% 3/1/36

400,000

477,628

6% 3/1/33

4,250,000

5,311,778

6% 4/1/38

5,300,000

6,348,711

6% 11/1/39

11,700,000

14,192,334

6.5% 4/1/33

3,850,000

4,825,783

California Health Facilities Fing. Auth. Rev.:

(Catholic Healthcare West Proj.):

Series 2008 L, 5.125% 7/1/22

750,000

812,505

Municipal Bonds - continued

 

Principal Amount

Value

California - continued

California Health Facilities Fing. Auth. Rev.: - continued

(Catholic Healthcare West Proj.):

Series 2009 E, 5.625% 7/1/25

$ 2,000,000

$ 2,296,300

(Kaiser Permanente Health Sys. Proj.) Series 2006 A, 5.25% 4/1/39

1,025,000

1,116,492

(Providence Health and Svcs. Proj.):

Series C, 6.5% 10/1/38 (Pre-Refunded to 10/1/18 @ 100)

25,000

32,767

6.5% 10/1/38

1,375,000

1,663,338

(St. Joseph Health Sys. Proj.) Series 2009 A, 5.75% 7/1/39

1,220,000

1,387,494

(Stanford Hosp. & Clinics Proj.) Series 2010 B, 5.75% 11/15/31

2,500,000

3,035,500

Bonds (Catholic Healthcare West Proj.):

Series 2009 D, 5%, tender 7/1/14 (c)

1,055,000

1,112,983

Series 2009 F, 5%, tender 7/1/14 (c)

1,000,000

1,054,960

California Poll. Cont. Fing. Auth. Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2003 A, 5%, tender 5/1/13 (c)(d)

1,000,000

1,010,260

California Pub. Works Board Lease Rev.:

(Butterfield State Office Complex Proj.) Series 2005 A, 5.25% 6/1/30

2,000,000

2,107,960

(Dept. of Forestry & Fire Protection Proj.) Series 2007 E:

5% 11/1/19

1,600,000

1,852,032

5% 11/1/21

1,760,000

1,989,874

(Dept. of Health Svcs. Proj.) Series 2005 K, 5% 11/1/23

1,000,000

1,069,590

(Office of Emergency Svcs. Proj.) Series 2007 A, 5% 3/1/22

1,000,000

1,104,780

(Porterville Developmental Ctr. Hsg. Expansion and Recreation Complex Proj.) Series 2009 C, 6.25% 4/1/34

1,700,000

2,054,008

(Richmond Lab. Proj.) Series 2005 K, 5% 11/1/17

2,300,000

2,536,072

(Richmond Lab., Phase III Office Bldg. Proj.) Series B, 5.25% 11/1/25 (XL Cap. Assurance, Inc. Insured)

2,585,000

2,792,653

(Univ. Proj.) Series 2011 B, 5.25% 10/1/27

3,500,000

4,119,605

(Various Cap. Proj.) Series 2012 G, 5% 11/1/24

650,000

762,054

(Various Cap. Projs.) Series 2012 A, 5% 4/1/24

3,190,000

3,750,387

Series 2005 H, 5% 6/1/18

1,425,000

1,545,541

Series 2009 G1, 5.75% 10/1/30

600,000

707,574

Series 2009 I:

6.125% 11/1/29

400,000

495,272

6.375% 11/1/34

1,000,000

1,237,500

Municipal Bonds - continued

 

Principal Amount

Value

California - continued

California Pub. Works Board Lease Rev.: - continued

Series 2010 A, 5.75% 3/1/30

$ 1,000,000

$ 1,175,440

California State Univ. Rev. Series 2009 A, 6% 11/1/40

3,400,000

3,982,590

California Statewide Cmntys. Dev. Auth. Rev. (St. Joseph Health Sys. Proj.) Series 2007 C, 5.75% 7/1/47 (FGIC Insured)

1,000,000

1,106,270

Clovis Pub. Fing. Auth. Wastewtr. Rev. Series 2005, 5% 8/1/35 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,300,000

1,332,357

Fontana Unified School District Gen. Oblig. 5% 5/1/18 (Assured Guaranty Corp. Insured)

1,170,000

1,389,843

Foothill/Eastern Trans. Corridor Agcy. Toll Road Rev.:

Series 1995 A, 5% 1/1/35 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

700,000

700,007

Series 1999:

5% 1/15/16 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

400,000

400,816

5.75% 1/15/40

600,000

600,528

Golden State Tobacco Securitization Corp. Tobacco Settlement Rev.:

Series 2005 A:

5% 6/1/45

5,150,000

5,369,751

5% 6/1/45

1,000,000

1,042,670

5% 6/1/45 (FSA Insured)

105,000

109,769

Long Beach Unified School District Series A, 5.5% 8/1/29

1,000,000

1,179,980

Los Angeles Cmnty. College District Series 2008 A, 6% 8/1/33

3,000,000

3,702,180

Los Angeles County Metropolitan Trans. Auth. Sales Tax Rev. Series 2013 A, 5% 7/1/20 (b)

3,700,000

4,537,014

Los Angeles Dept. of Wtr. & Pwr. Rev. Series A2, 5% 7/1/25 (FSA Insured)

300,000

329,655

Los Angeles Muni. Impt. Corp. Lease Rev. Series 2012 C, 5% 3/1/25

1,455,000

1,668,419

Los Angeles Wastewtr. Sys. Rev. Series 2009 A, 5.75% 6/1/34

2,000,000

2,385,600

Madera County Ctfs. of Prtn. (Children's Hosp. Central California Proj.) Series 2010, 5.375% 3/15/36

1,000,000

1,074,720

Monterey County Pub. Impt. Corp. Ctfs. of Prtn. Series 2007, 5% 8/1/19 (AMBAC Insured)

1,000,000

1,126,350

Northern California Power Agency Rev. (Hydroelectric #1 Proj.) Series 2008 C, 5% 7/1/14 (Assured Guaranty Corp. Insured)

1,000,000

1,061,780

Oakland Gen. Oblig. Series 2012, 5% 1/15/24

2,500,000

2,967,575

Municipal Bonds - continued

 

Principal Amount

Value

California - continued

Oakland Unified School District Alameda County Series 2009 A, 6.25% 8/1/18

$ 1,815,000

$ 2,111,480

Poway Unified School District:

(District #2007-1 School Facilities Proj.) Series 2008 A, 0% 8/1/32

1,000,000

419,290

Series B, 0% 8/1/39

3,700,000

1,031,671

Poway Unified School District Pub. Fing. Auth. Lease Rev. Bonds Series 2008 B, 0%, tender 12/1/14 (FSA Insured) (c)

1,995,000

1,933,355

Sacramento City Fing. Auth. Rev. Series A, 0% 12/1/26 (FGIC Insured)

800,000

410,832

Sacramento Muni. Util. District Elec. Rev. Series 2012 Y, 5% 8/15/28

2,200,000

2,624,600

San Bernardino Cmnty. College District Series A:

6.25% 8/1/33

400,000

493,812

6.5% 8/1/27

1,000,000

1,249,940

San Bernardino County Ctfs. of Prtn. (Arrowhead Proj.) Series 2009 A, 5.25% 8/1/26

1,000,000

1,081,500

San Diego Convention Ctr. Expansion Series 2012 A, 5% 4/15/24

2,200,000

2,503,776

San Diego Unified School District:

Series 2008 C, 0% 7/1/39

4,700,000

1,329,442

Series 2008 E:

0% 7/1/47 (a)

1,300,000

544,154

0% 7/1/49

4,600,000

781,172

San Leandro Unified School District Series 2006 B, 6.25% 8/1/33 (FSA Insured)

1,100,000

1,304,138

San Marcos Unified School District:

Series 2010 B, 0% 8/1/47

1,900,000

340,195

Series A, 5% 8/1/38

1,000,000

1,122,600

Santa Monica-Malibu Unified School District Series 1999, 0% 8/1/20 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,000,000

843,230

Sonoma County Jr. College District Rev. Series 2002 B, 5% 8/1/28 (FSA Insured)

400,000

436,644

Sweetwater Union High School District Series 2008 A, 5.625% 8/1/47 (FSA Insured)

6,300,000

7,063,434

Turlock Health Facilities Rev. Ctfs. Series 2004 A, 5.375% 10/15/34

300,000

311,673

Union Elementary School District Series A, 0% 9/1/20 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,000,000

834,100

Municipal Bonds - continued

 

Principal Amount

Value

California - continued

Univ. of California Revs.:

(UCLA Med. Ctr. Proj.) Series A:

5.5% 5/15/18 (AMBAC Insured)

$ 655,000

$ 660,993

5.5% 5/15/20 (AMBAC Insured)

740,000

745,750

Series 2007 K:

5% 5/15/18 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

2,330,000

2,581,174

5% 5/15/18 (Pre-Refunded to 5/15/15 @ 101)

140,000

155,940

Series 2009 O:

5.25% 5/15/39

500,000

572,220

5.75% 5/15/30

5,985,000

7,275,127

Ventura County Cmnty. College District Series C, 5.5% 8/1/33

1,000,000

1,194,860

Washington Township Health Care District Rev.:

Series 2010 A, 5.25% 7/1/30

1,100,000

1,226,104

Series A, 5% 7/1/15

1,025,000

1,107,410

West Contra Costa Unified School District:

(Election of 2005 Proj.) Series B, 5.625% 8/1/35 (Berkshire Hathaway Assurance Corp. Insured)

700,000

809,599

Series 2012, 5% 8/1/26

2,000,000

2,319,220

 

214,792,283

Colorado - 0.9%

Colorado Health Facilities Auth. Retirement Hsg. Rev. (Liberty Heights Proj.):

Series B, 0% 7/15/20 (Escrowed to Maturity)

1,200,000

1,045,500

0% 7/15/22 (Escrowed to Maturity)

2,800,000

2,258,200

Colorado Health Facilities Auth. Rev.:

(Longmont Hosp. Proj.) Series B, 5.25% 12/1/13 (Radian Asset Assurance, Inc. Insured)

860,000

881,586

(Valley View Hosp. Proj.) Series 2008, 5.75% 5/15/36

2,000,000

2,153,080

(Volunteers of America Care Proj.) Series A, 5% 7/1/14

520,000

529,443

Colorado Springs Utils. Rev. Series 2012 C2, 5% 11/15/42

600,000

692,760

Dawson Ridge Metropolitan District #1 Series 1992 A, 0% 10/1/17 (Escrowed to Maturity)

1,200,000

1,138,140

E-470 Pub. Hwy. Auth. Rev.:

Series 2000 B, 0% 9/1/20 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,500,000

1,192,740

Municipal Bonds - continued

 

Principal Amount

Value

Colorado - continued

E-470 Pub. Hwy. Auth. Rev.: - continued

Series 2010 A, 0% 9/1/41

$ 2,000,000

$ 481,020

Series 2010 C, 5.25% 9/1/25

1,000,000

1,100,130

 

11,472,599

Connecticut - 0.5%

Connecticut Spl. Tax Oblig. Trans. Infrastructure Rev. Series 2009 1, 5% 2/1/19

2,000,000

2,417,340

Eastern Connecticut Resources Recovery Auth. Solid Waste Rev. (Wheelabrator Lisbon Proj.) Series A, 5.5% 1/1/20 (d)

3,350,000

3,363,032

 

5,780,372

District Of Columbia - 1.6%

District of Columbia Hosp. Rev. (Sibley Memorial Hosp. Proj.) Series 2009, 6.375% 10/1/39

1,860,000

2,147,482

District of Columbia Rev.:

(Medlantic/Helix Proj.) Series 1998 B, 5% 8/15/17 (FSA Insured)

1,600,000

1,798,672

Series B, 4.75% 6/1/32

500,000

542,055

District of Columbia Wtr. & Swr. Auth. Pub. Util. Rev. Series 2007 A, 5.5% 10/1/41

6,400,000

7,452,800

Metropolitan Washington Arpts. Auth. Dulles Toll Road Rev. Series 2009 B:

0% 10/1/28 (Assured Guaranty Corp. Insured)

2,000,000

987,360

0% 10/1/32 (Assured Guaranty Corp. Insured)

5,080,000

2,007,362

0% 10/1/33 (Assured Guaranty Corp. Insured)

5,000,000

1,865,700

Metropolitan Washington DC Arpts. Auth. Sys. Rev. Series 2010 A, 5% 10/1/39

700,000

815,920

Washington DC Metropolitan Transit Auth. Rev. Series 2009 A, 5.25% 7/1/29

1,750,000

2,023,088

 

19,640,439

Florida - 8.0%

Brevard County School Board Ctfs. of Prtn. Series 2007 B, 5% 7/1/24 (AMBAC Insured)

1,000,000

1,130,850

Broward County School Board Ctfs. of Prtn.:

Series 2007 A, 5% 7/1/17 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,000,000

1,146,820

Series 2012 A, 5% 7/1/24

4,400,000

5,191,472

Broward County Wtr. & Swr. Util. Rev. Series 2009 A, 5.25% 10/1/34

1,500,000

1,771,740

Municipal Bonds - continued

 

Principal Amount

Value

Florida - continued

Citizens Property Ins. Corp.:

Series 2010 A1:

5% 6/1/16 (FSA Insured)

$ 1,500,000

$ 1,680,900

5% 6/1/17 (FSA Insured)

1,000,000

1,148,640

Series 2011 A1, 5% 6/1/20

1,000,000

1,174,340

Series 2012 A1, 5% 6/1/21

1,500,000

1,761,660

Collier County Indl. Dev. Auth. Healthcare Facilities Rev. (NCH Healthcare Sys. Proj.) Series 2011, 6.25% 10/1/39

2,540,000

2,951,480

Escambia City Health Facilities Auth. Rev. (Ascension Health Cr. Group Proj.) Series 2002 C, 5.75% 11/15/32

600,000

608,160

Florida Board of Ed. Lottery Rev. Series 2011 A, 5% 7/1/20

2,405,000

2,955,024

Florida Board of Ed. Pub. Ed. Cap. Outlay:

Series 2006 D, 5% 6/1/37

1,790,000

2,040,475

Series 2006 E, 5% 6/1/35

700,000

810,649

Series 2011 E, 5% 6/1/27

1,200,000

1,431,060

Series A, 5.5% 6/1/38

400,000

478,192

Florida Correctional Privatization Communications Ctfs. of Prtn. Series 2004 A, 5% 8/1/15 (AMBAC Insured)

1,000,000

1,067,130

Florida Gen. Oblig.:

Series 2011 B, 5% 7/1/23

1,800,000

2,195,622

Series 2012 A, 5% 7/1/25

1,600,000

1,932,512

Florida Muni. Pwr. Agcy. Rev.:

(St. Lucie Proj.) Series 2012 A, 5% 10/1/26

600,000

710,424

Series A, 6.25% 10/1/31

500,000

603,385

Halifax Hosp. Med. Ctr. Rev.:

Series 2006 A, 5% 6/1/38

800,000

845,008

Series 2006 B1, 5.5% 6/1/38 (FSA Insured)

710,000

765,146

Highlands County Health Facilities Auth. Rev. (Adventist Health Sys./Sunbelt, Inc. Prog.):

Series 2005 B:

5% 11/15/30

505,000

534,330

5% 11/15/30 (Pre-Refunded to 11/15/15 @ 100)

70,000

78,595

Series 2006 G:

5% 11/15/16

95,000

107,652

5% 11/15/16 (Escrowed to Maturity)

5,000

5,770

5.125% 11/15/18

965,000

1,088,433

5.125% 11/15/18 (Pre-Refunded to 11/15/16 @ 100)

35,000

40,551

Series 2008 B, 6% 11/15/37

2,000,000

2,369,460

Municipal Bonds - continued

 

Principal Amount

Value

Florida - continued

Highlands County Health Facilities Auth. Rev. (Adventist Health Sys./Sunbelt, Inc. Prog.): - continued

Series B:

5% 11/15/14

$ 875,000

$ 942,156

5% 11/15/14 (Escrowed to Maturity)

125,000

135,175

Hillsborough County Indl. Dev.:

(Gen. Hosp. Proj.) Series 2006, 5% 10/1/36

1,015,000

1,076,793

(H Lee Moffitt Cancer Ctr. Proj.) Series A:

5% 7/1/15

1,335,000

1,448,609

5% 7/1/19

2,230,000

2,467,049

(Tampa Gen. Hosp. Proj.) Series 2006, 5.25% 10/1/41

900,000

960,570

Hillsborough County Indl. Dev. Auth. Indl. Dev. Rev.:

(Health Facilities/Univ. Cmnty. Hosp. Proj.) Series 2008 B, 8% 8/15/32 (Pre-Refunded to 8/15/19 @ 101)

1,000,000

1,400,420

(Univ. Cmnty. Hosp. Proj.) Series 2008 A, 5.625% 8/15/29 (Pre-Refunded to 8/15/18 @ 100)

535,000

669,702

Jacksonville Elec. Auth. Elec. Sys. Rev.:

Series 2006 A, 5% 10/1/41 (FSA Insured)

1,000,000

1,069,090

Series 2009 B, 5% 10/1/18

4,790,000

5,023,177

Series Three 2010 D, 5% 10/1/38

1,600,000

1,814,544

Jacksonville Sales Tax Rev. Series 2012, 5% 10/1/25

1,000,000

1,192,430

Lee County Arpt. Rev. Series 2011 A, 5.375% 10/1/32 (d)

1,050,000

1,185,797

Miami-Dade County Aviation Rev.:

Series 2010 A, 5.375% 10/1/41

1,500,000

1,704,630

Series 2010 A1, 5.5% 10/1/30

1,000,000

1,166,110

Series 2010 B, 5% 10/1/35 (FSA Insured)

2,300,000

2,589,018

Series 2012 A:

5% 10/1/20 (d)

2,750,000

3,266,258

5% 10/1/21 (d)

1,900,000

2,262,691

5% 10/1/22 (d)

1,000,000

1,193,370

5% 10/1/31 (d)

1,500,000

1,677,720

Miami-Dade County Cap. Asset Acquisition Series 2012 A, 5% 10/1/23

750,000

885,938

Miami-Dade County Expressway Auth. Series 2010 A, 5% 7/1/40

2,000,000

2,177,820

Miami-Dade County School Board Ctfs. of Prtn. Series 2008 A, 5% 8/1/21 (AMBAC Insured)

2,000,000

2,240,800

Miami-Dade County Wtr. & Swr. Rev. Series 2008 A, 5.25% 10/1/22 (FSA Insured)

4,000,000

5,004,560

Municipal Bonds - continued

 

Principal Amount

Value

Florida - continued

North Brevard County Hosp. District Rev. (Parrish Med. Ctr. Proj.) Series 2008, 5.75% 10/1/38

$ 2,100,000

$ 2,295,342

Orange County Health Facilities Auth. (Orlando Health, Inc.) Series 2009, 5.125% 10/1/26

1,000,000

1,124,090

Orlando & Orange County Expressway Auth. Rev. Series 2012, 5% 7/1/23

500,000

594,950

Orlando Utils. Commission Util. Sys. Rev.:

Series 2009 B, 5% 10/1/33

1,100,000

1,283,271

Series 2012 A, 5% 10/1/24

700,000

886,515

Series 2013 A:

5% 10/1/24

1,100,000

1,393,095

5% 10/1/25

900,000

1,141,668

Seminole County School Board Ctfs. of Prtn. Series A, 5% 7/1/20 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

500,000

545,290

South Lake County Hosp. District (South Lake Hosp., Inc.) Series 2009 A, 6% 4/1/29

1,400,000

1,611,470

Tampa Bay Wtr. Reg'l. Wtr. Supply Auth. Util. Sys. Rev. Series 2011 B, 5% 10/1/18

1,400,000

1,699,432

Tampa Tax Allocation (H. Lee Moffitt Cancer Ctr. Proj.) Series 2012 A, 5% 9/1/25

410,000

475,928

Winter Park Wtr. and Swr. Impt. Rev. Series 2009, 5% 12/1/34

2,250,000

2,528,618

 

97,759,576

Georgia - 2.6%

Atlanta Wtr. & Wastewtr. Rev. Series 2009 A:

6% 11/1/25

3,000,000

3,778,800

6.25% 11/1/39

3,500,000

4,296,985

Augusta Wtr. & Swr. Rev. Series 2004, 5.25% 10/1/39 (FSA Insured)

2,200,000

2,348,962

Colquitt County Dev. Auth. Rev.:

Series A, 0% 12/1/21 (Escrowed to Maturity)

1,100,000

916,454

Series C, 0% 12/1/21 (Escrowed to Maturity)

1,800,000

1,499,652

DeKalb County Hosp. Auth. Rev. (DeKalb Med. Ctr., Inc. Proj.) Series 2010:

6% 9/1/30

1,400,000

1,654,492

6.125% 9/1/40

1,300,000

1,531,855

Georgia Muni. Elec. Auth. Pwr. Rev.:

Series C, 5% 1/1/22

1,400,000

1,717,968

Series GG, 5% 1/1/23

800,000

993,552

Greene County Dev. Auth. Health Sys. Rev. Series 2012, 5% 11/15/37

300,000

323,055

Municipal Bonds - continued

 

Principal Amount

Value

Georgia - continued

Main Street Natural Gas, Inc. Georgia Gas Proj. Rev. Series A, 5.5% 9/15/21

$ 930,000

$ 1,106,030

Metropolitan Atlanta Rapid Transit Auth. Sales Tax Rev. Third Series 2009 A, 5.25% 7/1/36

2,500,000

2,963,050

Muni. Elec. Auth. of Georgia (Gen. Resolution Proj.) Series 2008 A, 5.25% 1/1/21

3,090,000

3,813,276

Richmond County Hosp. Auth. (Univ. Health Svcs., Inc. Proj.) Series 2009, 5.5% 1/1/36

2,600,000

2,818,868

Washington Wilkes Payroll Dev. Auth. Rev. Series C, 0% 12/1/21 (Escrowed to Maturity)

2,310,000

1,924,553

 

31,687,552

Hawaii - 0.1%

Honolulu City & County Board of Wtr. Supply Wtr. Sys. Rev. Series B, 5.25% 7/1/17 (Nat'l. Pub. Fin. Guarantee Corp. Insured) (d)

1,250,000

1,408,150

Idaho - 0.3%

Idaho Bond Bank Auth. Rev. Series 2008 C, 5.625% 9/15/26

1,415,000

1,708,485

Idaho Health Facilities Auth. Rev.:

(St. Luke's Health Sys. Proj.) Series 2008 A, 6.75% 11/1/37

1,200,000

1,420,956

(Trinity Health Group Proj.) 2008 B, 6.25% 12/1/33

400,000

478,392

 

3,607,833

Illinois - 12.5%

Chicago Board of Ed.:

Series 1999 A:

0% 12/1/16 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,300,000

1,223,638

0% 12/1/18 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,000,000

886,500

Series 2012 A, 5% 12/1/42

3,400,000

3,725,822

Chicago Gen. Oblig.:

(City Colleges Proj.):

Series 1999, 0% 1/1/16 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

6,125,000

5,863,034

0% 1/1/24 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

6,110,000

4,052,763

Series A, 5% 1/1/42 (AMBAC Insured)

15,000

15,035

Chicago O'Hare Int'l. Arpt. Rev.:

Series 2005 A, 5.25% 1/1/23 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,000,000

1,117,430

Municipal Bonds - continued

 

Principal Amount

Value

Illinois - continued

Chicago O'Hare Int'l. Arpt. Rev.: - continued

Series 2006 B, 5% 1/1/26 (Nat'l. Pub. Fin. Guarantee Corp. Insured) (d)

$ 1,405,000

$ 1,531,605

Series 2011 C, 6.5% 1/1/41

2,300,000

2,977,212

Chicago Park District Gen. Oblig. Series 2010 C, 5.25% 1/1/37

1,300,000

1,507,441

Chicago Transit Auth. Cap. Grant Receipts Rev. (Fed. Transit Administration Section 5307 Proj.) Series 2006 A, 5% 6/1/21

1,400,000

1,571,892

Cmnty. College District #525 Gen. Oblig. (Joliet Jr. College Proj.) Series 2008, 5.75% 6/1/28 (Pre-Refunded to 6/1/28 @ 100)

1,000,000

1,166,400

Cook County Forest Preservation District Series 2012 C, 5% 12/15/21

1,000,000

1,233,340

Cook County Gen. Oblig.:

Series 2004 B, 5.25% 11/15/26 (Pre-Refunded to 11/15/14 @ 100)

300,000

326,310

Series 2006 B, 5% 11/15/18 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,000,000

1,173,880

Series 2010 A, 5.25% 11/15/33

3,250,000

3,671,948

Series 2012 C:

5% 11/15/24

1,700,000

2,016,302

5% 11/15/25

2,600,000

3,057,002

Grundy, Kendall & Will County Cmnty. High School District #111 Gen. Oblig. Series 2006 A, 5.5% 5/1/23 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,150,000

1,290,208

Illinois Fin. Auth. Hosp. Rev. (KishHealth Sys. Proj.) Series 2008, 5.75% 10/1/35

1,600,000

1,759,920

Illinois Fin. Auth. Rev.:

(Advocate Heath Care Proj.) Series 2008 D, 6.5% 11/1/38

1,000,000

1,195,430

(Central DuPage Health Proj.) Series 2009 B, 5.375% 11/1/39

1,200,000

1,325,628

(Children's Memorial Hosp. Proj.) Series 2008 A, 5.25% 8/15/33 (Assured Guaranty Corp. Insured)

1,300,000

1,445,860

(Edward Hosp. Obligated Group Proj.) Series 2008 A, 5.5% 2/1/40 (AMBAC Insured)

1,430,000

1,577,076

(Newman Foundation Proj.) 5% 2/1/32 (Radian Asset Assurance, Inc. Insured)

1,700,000

1,707,922

(Northwest Cmnty. Hosp. Proj.) Series 2008 A, 5.5% 7/1/38

1,915,000

2,094,187

(Northwestern Memorial Hosp. Proj.) Series 2009 A, 6% 8/15/39

2,300,000

2,666,367

Municipal Bonds - continued

 

Principal Amount

Value

Illinois - continued

Illinois Fin. Auth. Rev.: - continued

(Palos Cmnty. Hosp. Proj.) Series 2010 C, 5.375% 5/15/25

$ 5,000,000

$ 5,714,750

(Provena Health Proj.) Series 2010 A, 6% 5/1/28

2,700,000

3,070,818

(Rush Univ. Med. Ctr. Proj.):

Series 2009 C, 6.625% 11/1/39

1,500,000

1,809,090

Series 2009 D, 6.625% 11/1/39

1,445,000

1,742,757

Series B, 5.25% 11/1/35 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

2,000,000

2,151,360

(Sherman Health Systems Proj.) Series 2007 A, 5.5% 8/1/37

3,215,000

3,536,018

(Southern Illinois Healthcare Enterprises, Inc. Proj.) Series 2005, 5.25% 3/1/30

1,100,000

1,214,576

(The Carle Foundation Proj.) Series 2009 A, 5.5% 2/15/17 (Assured Guaranty Corp. Insured)

2,000,000

2,310,700

(The Univ. of Chicago Med. Ctr. Proj.) Series 2009 B, 5% 8/15/23

1,100,000

1,264,835

Series 2008 A, 5.625% 1/1/37

4,720,000

5,276,582

Series 2009 A, 7.25% 11/1/38

230,000

285,002

Series 2009:

6.875% 8/15/38

80,000

95,995

7% 8/15/44

285,000

342,205

Series 2010 A:

5.5% 8/15/24

540,000

611,798

5.75% 8/15/29

360,000

407,441

Series 2010, 5.25% 8/15/36

1,180,000

1,283,875

Series 2012 A:

5% 5/15/20

500,000

574,790

5% 5/15/23

300,000

342,003

Series 2012:

5% 9/1/32

1,900,000

2,094,313

5% 11/15/43

820,000

877,548

Series 2013, 5% 5/15/43 (b)

600,000

640,812

Illinois Gen. Oblig.:

Series 2002, 5.5% 8/1/15 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,000,000

1,107,470

Series 2006:

5% 1/1/19

1,000,000

1,151,860

5.5% 1/1/31

1,000,000

1,212,020

Series 2010, 5% 1/1/23 (FSA Insured)

1,300,000

1,452,451

Series 2012:

5% 3/1/23

1,000,000

1,143,280

Municipal Bonds - continued

 

Principal Amount

Value

Illinois - continued

Illinois Gen. Oblig.: - continued

Series 2012:

5% 3/1/36

$ 1,000,000

$ 1,100,190

Series 2013, 5% 1/1/22

2,175,000

2,437,240

Illinois Health Facilities Auth. Rev.:

(Delnor-Cmnty. Hosp. Proj.):

Series 2002 D, 5.25% 5/15/32 (FSA Insured)

2,000,000

2,165,220

5.25% 5/15/32 (FSA Insured)

360,000

389,740

(Lake Forest Hosp. Proj.) 6% 7/1/33

1,000,000

1,018,440

(Sherman Hosp. Proj.) 5.25% 8/1/27 (AMBAC Insured)

600,000

601,044

Illinois Sales Tax Rev. Series 2010, 5% 6/15/15

2,700,000

2,968,029

Illinois Unemployment Ins. Fund Bldg. Receipts Series 2012 A, 5% 6/15/19

700,000

766,717

Joliet School District #86 Gen. Oblig. Series 2002, 0% 11/1/19 (FSA Insured)

2,000,000

1,681,580

Kane, McHenry, Cook & DeKalb Counties Unit School District #300:

Series 2001, 0% 12/1/17 (AMBAC Insured)

1,000,000

919,410

Series 2007, 6.5% 1/1/20 (AMBAC Insured)

1,100,000

1,374,274

Lake County Cmnty. Consolidated School District #73 Gen. Oblig.:

0% 12/1/16 (Escrowed to Maturity)

235,000

227,590

0% 12/1/16 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

765,000

713,814

Lake County Cmnty. High School District #117, Antioch Series 2000 B, 0% 12/1/20 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,805,000

1,388,713

Lake County Forest Preservation District Series 2007 A, 0.556% 12/15/13 (c)

440,000

440,568

Metropolitan Pier & Exposition:

(McCormick Place Expansion Proj.):

Series 1996 A, 0% 6/15/23 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,000,000

705,170

Series 2010 B1, 0% 6/15/44 (FSA Insured)

3,900,000

828,789

Series 2012 B:

0% 12/15/51

2,900,000

409,683

5% 6/15/52

3,500,000

3,799,355

Series A:

0% 6/15/19 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

3,710,000

3,250,405

0% 6/15/22 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,205,000

900,171

Municipal Bonds - continued

 

Principal Amount

Value

Illinois - continued

Metropolitan Pier & Exposition: - continued

(McCormick Place Expansion Proj.):

Series A:

0% 12/15/24 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

$ 3,090,000

$ 2,037,979

0% 6/15/36 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,080,000

363,172

Series 2002 A, 0% 12/15/30 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

5,900,000

2,749,931

Series 2010 B1:

0% 6/15/43 (FSA Insured)

5,310,000

1,185,564

0% 6/15/45 (FSA Insured)

2,600,000

525,902

0% 6/15/46 (FSA Insured)

1,115,000

213,969

0% 6/15/47 (FSA Insured)

890,000

162,541

0% 6/15/16 (Escrowed to Maturity)

795,000

773,948

0% 6/15/16 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,880,000

1,781,356

Quincy Hosp. Rev. 5% 11/15/18

1,000,000

1,092,550

Univ. of Illinois Board of Trustees Ctfs. of Prtn. Series 2009 A, 5% 10/1/18

1,000,000

1,177,500

Univ. of Illinois Rev.:

(Auxiliary Facilities Sys. Proj.):

Series 1991, 0% 4/1/15 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

3,700,000

3,595,771

Series 1999 A, 0% 4/1/20 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,600,000

1,301,184

Series 2009 A, 5.75% 4/1/38

2,940,000

3,320,671

Series 2010 A:

5% 4/1/25

1,000,000

1,142,420

5.25% 4/1/30

1,000,000

1,138,360

Will County Cmnty. Unit School District #365-U:

0% 11/1/14 (Escrowed to Maturity)

540,000

533,941

0% 11/1/14 (FSA Insured)

460,000

452,088

0% 11/1/16 (Escrowed to Maturity)

275,000

265,427

0% 11/1/16 (FSA Insured)

825,000

777,571

0% 11/1/19 (Escrowed to Maturity)

790,000

707,192

0% 11/1/19 (FSA Insured)

5,085,000

4,318,284

Will County Forest Preservation District Series 1999 B, 0% 12/1/14 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,000,000

987,890

 

152,585,854

Municipal Bonds - continued

 

Principal Amount

Value

Indiana - 2.6%

Franklin Township Independent School Bldg. Corp., Marion County 5.25% 7/15/16 (Pre-Refunded to 7/15/15 @ 100)

$ 1,790,000

$ 1,999,108

Hobart Bldg. Corp. Series 2006, 6.5% 1/15/29 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

3,700,000

4,686,642

Indiana Fin. Auth. Health Sys. Rev. (Sisters of Saint Francis Health Svcs., Inc. Obligated Group Proj.) Series 2009 A, 5.25% 11/1/39

1,000,000

1,097,900

Indiana Fin. Auth. Rev.:

(Trinity Health Cr. Group Proj.) Series 2009 A, 5.25% 12/1/38

2,000,000

2,214,520

Series 2012:

5% 3/1/30

475,000

524,908

5% 3/1/41

700,000

755,013

Indiana Health & Edl. Facilities Fing. Auth. Rev. Bonds (Ascension Health Sr. Cr. Group Proj.) Series 2006 B1, 4.1%, tender 11/3/16 (c)

2,000,000

2,229,620

Indiana Health Facility Fing. Auth. Rev. Bonds (Ascension Health Cr. Group Proj.) Series 2001 A2, 1.6%, tender 2/1/17 (c)

1,400,000

1,430,002

Indiana State Fin. Auth. Wastewtr. (CWA Auth. Proj.) Series 2012 A:

5% 10/1/24

400,000

486,836

5% 10/1/37

800,000

913,768

Indiana Trans. Fin. Auth. Hwy. Rev. Series 1993 A, 0% 6/1/17 (AMBAC Insured)

1,000,000

912,100

Indianapolis Local Pub. Impt. Bond Bank (Indianapolis Arpt. Auth. Proj.) Series 2006 F, 5% 1/1/16 (AMBAC Insured) (d)

1,000,000

1,110,610

Jasper County Indl. Poll. Ctl. Rev. (Northern Indiana Pub. Svc. Co. Proj.) Series 1988 C, 5.6% 11/1/16 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,000,000

1,119,450

Lake Central Multi-District School Bldg. Corp. Series 2012 B, 5% 7/15/26

4,900,000

5,919,837

North Adams Cmnty. Schools Renovation Bldg. Corp. 0% 1/15/17 (FSA Insured)

1,230,000

1,123,470

Purdue Univ. Rev. (Student Facilities Sys. Proj.) Series 2009 B:

5% 7/1/28

660,000

762,161

5% 7/1/35

500,000

564,080

Municipal Bonds - continued

 

Principal Amount

Value

Indiana - continued

Univ. of Southern Indiana Rev. Series J, 5.75% 10/1/28 (Assured Guaranty Corp. Insured)

$ 2,695,000

$ 3,319,890

Wayne Township Marion County School Bldg. Corp. Series 2007, 5.5% 7/15/27 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

700,000

774,242

 

31,944,157

Iowa - 0.1%

Coralville Urban Renewal Rev. Series C, 5.125% 6/1/39

70,000

70,792

Iowa Fin. Auth. Health Facilities Rev. Series 2008 A, 5.625% 8/15/37 (Assured Guaranty Corp. Insured)

1,200,000

1,368,684

 

1,439,476

Kansas - 0.7%

Kansas Dev. Fin. Agcy. (Adventist Health Sys./Sunbelt Obligated Group Proj.) Series 2009 C, 5.75% 11/15/38

1,900,000

2,204,304

Kansas Dev. Fin. Auth. Health Facilities Rev. (Hays Med. Ctr. Proj.) Series 2005 L:

5.25% 11/15/15

335,000

373,806

5.25% 11/15/16

955,000

1,058,398

Lawrence Hosp. Rev. 5.25% 7/1/18

1,000,000

1,113,100

Overland Park Sales Tax Spl. Oblig. Rev. Series 2012, 4.375% 12/15/23

900,000

900,675

Wichita Hosp. Facilities Rev. (Via Christi Health Sys., Inc. Proj.) Series 2009 X:

4% 11/15/18

300,000

336,231

5% 11/15/17

500,000

580,385

Wyandotte County/Kansas City Unified Govt. Util. Sys. Rev. Series 2012 A, 5% 9/1/26

1,950,000

2,313,402

 

8,880,301

Kentucky - 1.5%

Kentucky Econ. Dev. Fin. Auth. Hosp. Rev.:

(Baptist Healthcare Sys. Proj.) Series A, 5% 8/15/18

3,000,000

3,460,260

(St. Elizabeth Med. Ctr., Inc. Proj.) Series 2009 A, 5.5% 5/1/39

1,000,000

1,104,680

Kentucky Econ. Dev. Fin. Auth. Rev. (Ashland Hosp. Corp. d/b/a/ King's Daughters Med. Ctr. Proj.):

Series 2008 C, 6.125% 2/1/38

2,500,000

2,847,075

Series 2010 A, 5% 2/1/30

1,000,000

1,072,410

Municipal Bonds - continued

 

Principal Amount

Value

Kentucky - continued

Louisville & Jefferson County Metropolitan Govt. Health Facilities Rev. (Jewish Hosp. & St. Mary's HealthCare Proj.) Series 2008, 6.125% 2/1/37 (Pre-Refunded to 2/1/18 @ 100)

$ 6,150,000

$ 7,755,335

Louisville & Jefferson County Metropolitan Swr. District Swr. & Drain Sys. Rev. Series A, 5.25% 5/15/37 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

2,170,000

2,284,164

 

18,523,924

Louisiana - 0.9%

Louisiana Military Dept. Custody Receipts 5% 8/1/14

1,730,000

1,809,667

Louisiana Pub. Facilities Auth. Rev. (Nineteenth Judicial District Court Proj.) Series 2007:

5.375% 6/1/32 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,600,000

1,737,344

5.5% 6/1/41 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,000,000

1,076,200

New Orleans Aviation Board Rev. Series 2007 A, 5.25% 1/1/19 (FSA Insured) (d)

1,570,000

1,778,983

New Orleans Gen. Oblig.:

Series 2005, 5.25% 12/1/23 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,000,000

1,080,990

Series 2012, 5% 12/1/23

2,250,000

2,597,153

0% 9/1/15 (AMBAC Insured)

700,000

649,537

Tobacco Settlement Fing. Corp. Series 2001 B, 5.5% 5/15/30

245,000

249,878

 

10,979,752

Maine - 0.2%

Maine Health & Higher Ed. Facilities Auth. Rev. Series 2008 D, 5.75% 7/1/38

1,100,000

1,271,853

Maine Tpk. Auth. Tpk. Rev. Series 2007, 5.25% 7/1/37 (AMBAC Insured)

1,300,000

1,432,808

 

2,704,661

Maryland - 0.7%

Baltimore Proj. Rev. (Wtr. Proj.) Series 2009 A, 5.375% 7/1/34

500,000

579,135

Maryland Health & Higher Edl. Facilities Auth. Rev.:

(Doctors Cmnty. Hosp. Proj.) Series 2010, 5.75% 7/1/38

450,000

494,582

(Univ. of Maryland Med. Sys. Proj.):

Series 2008 F, 5.25% 7/1/21

1,000,000

1,119,950

Series 2010, 5.125% 7/1/39

900,000

984,861

Municipal Bonds - continued

 

Principal Amount

Value

Maryland - continued

Maryland Health & Higher Edl. Facilities Auth. Rev.: - continued

(Upper Chesapeake Hosp. Proj.) Series 2008 C:

5.5% 1/1/18

$ 595,000

$ 641,261

6% 1/1/38

2,800,000

3,153,220

(Washington County Health Sys. Proj.) Series 2008, 6% 1/1/43

1,000,000

1,088,710

 

8,061,719

Massachusetts - 1.6%

Massachusetts Dev. Fin. Agcy. Rev.:

(Boston Univ. Proj.) Series U4, 5.7% 10/1/40

1,400,000

1,561,154

Bonds (Dominion Energy Brayton Point Proj.) Series 2010 A, 2.25%, tender 9/1/16 (c)

400,000

412,652

Series I, 6.75% 1/1/36

1,000,000

1,202,040

Massachusetts Gen. Oblig. Series 2007 C, 5.25% 8/1/24

2,200,000

2,581,920

Massachusetts Health & Edl. Facilities Auth. Rev.:

(CareGroup, Inc. Proj.) Series 2008 E1:

5.125% 7/1/33

1,000,000

1,124,400

5.125% 7/1/38

1,000,000

1,117,980

Bonds (Baystate Health Sys. Proj.) Series 2009 K, 5%, tender 7/1/13 (c)

1,000,000

1,014,820

Massachusetts School Bldg. Auth. Dedicated Sales Tax Rev.:

Series 2005 A:

5% 8/15/23 (Pre-Refunded to 8/15/15 @ 100)

5,000,000

5,579,200

5% 8/15/30 (Pre-Refunded to 8/15/15 @ 100)

580,000

647,187

Series 2007 A, 5% 8/15/22 (AMBAC Insured)

600,000

695,874

Series 2012 A, 5% 8/15/30 (Pre-Refunded to 8/15/15 @ 100)

3,770,000

4,206,717

Massachusetts Wtr. Poll. Abatement Trust Wtr. Poll. Abatement Rev. (MWRA Ln. Prog.) Series 1998 A, 5.25% 8/1/13

10,000

10,039

 

20,153,983

Michigan - 2.6%

Allegan Pub. School District 5% 5/1/18 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,515,000

1,776,989

Detroit Swr. Disp. Rev.:

Series 2001 E, 5.75% 7/1/31 (Berkshire Hathaway Assurance Corp. Insured) (FGIC Insured)

1,100,000

1,272,458

Series 2003 B, 7.5% 7/1/33 (FSA Insured)

1,000,000

1,242,630

Municipal Bonds - continued

 

Principal Amount

Value

Michigan - continued

Detroit Swr. Disp. Rev.: - continued

Series 2006, 5% 7/1/36 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

$ 2,800,000

$ 2,850,708

Detroit Wtr. Supply Sys. Rev.:

Series 2003 A, 5% 7/1/34 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,700,000

1,720,383

Series 2005 B, 5.5% 7/1/35 (Berkshire Hathaway Assurance Corp. Insured) (FGIC Insured)

1,800,000

1,993,590

Series 2006 B, 7% 7/1/36 (FSA Insured)

1,000,000

1,206,890

Ferris State Univ. Rev. 5% 10/1/19 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,440,000

1,514,318

Grand Valley Michigan State Univ. Rev. Series 2009, 5.5% 12/1/27

2,450,000

2,825,487

Kent Hosp. Fin. Auth. Hosp. Facilities Rev. Bonds (Spectrum Health Sys. Proj.) Series 2008 A, 5.5%, tender 1/15/15 (c)

1,000,000

1,088,870

Lansing Board Wtr. & Lt. Rev. 5.5% 7/1/41

500,000

589,400

Lapeer Cmnty. Schools 5.25% 5/1/26 (FSA Insured)

1,100,000

1,243,011

Michigan Fin. Auth. Rev.:

Series 2012 A:

4.125% 6/1/32

1,100,000

1,089,099

5% 6/1/21

350,000

397,611

5% 6/1/27

500,000

546,705

5% 6/1/39

925,000

979,344

Series 2012 B, 5% 7/1/22

700,000

791,504

Series 2012, 5% 11/15/42

2,175,000

2,358,614

Michigan Hosp. Fin. Auth. Rev.:

(McLaren Health Care Corp. Proj.) Series 2008 A, 5.75% 5/15/38

1,000,000

1,134,830

(Trinity Health Sys. Proj.) Series 2008 A, 6.5% 12/1/33

2,500,000

3,025,025

Royal Oak Hosp. Fin. Auth. Hosp. Rev. (William Beaumont Hosp. Proj.) Series 2009 V, 8.25% 9/1/39

600,000

763,338

Willow Run Cmnty. Schools County of Washtenaw 5% 5/1/20 (FSA Insured)

1,000,000

1,077,210

 

31,488,014

Minnesota - 1.1%

Duluth Independent School District #709 Ctfs. of Prtn. Series 2009 B, 4% 3/1/20

1,620,000

1,706,524

Minneapolis & Saint Paul Metropolitan Arpts. Commission Arpt. Rev. Series 2008 A, 5% 1/1/14 (d)

1,000,000

1,040,420

Municipal Bonds - continued

 

Principal Amount

Value

Minnesota - continued

Minneapolis Health Care Sys. Rev. (Fairview Health Svcs. Proj.) Series 2008 B, 6.5% 11/15/38 (Assured Guaranty Corp. Insured)

$ 1,000,000

$ 1,211,510

Minnesota Gen. Oblig. 5% 8/1/22

1,100,000

1,292,148

Rochester Hsg. & Healthcare Rev. (Madonna Towers Proj.) Series A, 5.875% 11/1/28

1,100,000

1,141,943

Saint Paul Port Auth. Lease Rev.:

(HealthEast Midway Campus Proj.) Series 2003 A, 5.875% 5/1/30

1,400,000

1,492,722

Series 2003 11, 5.25% 12/1/18

1,000,000

1,040,360

St. Louis Park Health Care Facilities Rev. (Park Nicollet Health Svcs. Proj.):

Series 2008 C, 5.5% 7/1/17

1,000,000

1,154,640

Series 2009, 5.75% 7/1/39

1,600,000

1,807,856

St. Paul Hsg. & Redev. Auth. Health Care Facilities Rev. (HealthPartners Oblig. Group Proj.) 5.25% 5/15/22

1,000,000

1,073,830

 

12,961,953

Missouri - 0.1%

Saint Louis County Indl. Dev. Auth. Sr. Living Facilities Rev. (Friendship Village West County Proj.) Series A, 5.125% 9/1/14

850,000

877,387

Montana - 0.2%

Forsyth Poll. Cont. Rev. (Portland Gen. Elec. Co. Proj.) Series 1998 A, 5% 5/1/33

1,800,000

2,046,582

Nebraska - 0.3%

Central Plains Energy Proj. Rev. (Nebraska Gas Proj.) Series 2007 B, 0.708% 12/1/17 (c)

1,100,000

1,018,215

Douglas County Hosp. Auth. #2 Health Facilities Rev. (Children's Hosp. Proj.) Series 2008 B, 6% 8/15/24

1,300,000

1,462,786

Nebraska Pub. Pwr. District Rev. Series 2012 C, 5% 1/1/26

1,225,000

1,397,725

 

3,878,726

Nevada - 0.5%

Clark County Arpt. Rev. Series 2003 C, 5.375% 7/1/22 (AMBAC Insured) (d)

1,000,000

1,014,190

Clark County Wtr. Reclamation District:

Series 2009 A, 5.25% 7/1/29 (Berkshire Hathaway Assurance Corp. Insured)

1,000,000

1,195,800

5.625% 7/1/32

3,000,000

3,564,660

 

5,774,650

Municipal Bonds - continued

 

Principal Amount

Value

New Hampshire - 0.6%

New Hampshire Bus. Fin. Auth. Rev. Series 2009 A, 6.125% 10/1/39

$ 1,800,000

$ 2,037,186

New Hampshire Health & Ed. Facilities Auth. Rev.:

(Dartmouth College Proj.) Series 2009, 5.25% 6/1/39

1,000,000

1,174,550

(Dartmouth-Hitchcock Obligated Group Proj.) Series 2010, 5% 8/1/40

1,000,000

1,090,500

Series 2012:

4% 7/1/32

400,000

399,452

5% 7/1/27

500,000

561,780

New Hampshire Tpk. Sys. Rev.:

Series 2012 B, 5% 2/1/20

700,000

848,533

5% 4/1/20

1,325,000

1,610,432

 

7,722,433

New Jersey - 3.2%

Garden State Preservation Trust Open Space & Farmland Preservation Series 2005 A, 5.8% 11/1/19 (Pre-Refunded to 11/1/15 @ 100)

700,000

802,032

New Jersey Ctfs. of Prtn. Series 2009 A, 5.25% 6/15/28

1,000,000

1,106,790

New Jersey Econ. Dev. Auth. School Facilities Construction Rev.:

Series 2005 O:

5.25% 3/1/21 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,000,000

1,100,200

5.25% 3/1/26 (Pre-Refunded to 3/1/15 @ 100)

915,000

1,006,683

Series 2009 AA, 5.5% 12/15/29

1,000,000

1,168,340

Series 2009 Z, 6% 12/15/34 (Assured Guaranty Corp. Insured)

1,600,000

1,937,472

Series 2012, 5% 6/15/21

800,000

950,032

Series 2013 NN, 5% 3/1/27

16,810,000

19,745,513

Series 2013:

5% 3/1/23

2,500,000

3,048,450

5% 3/1/24

3,000,000

3,610,770

New Jersey Health Care Facilities Fing. Auth. Rev. Series 2008, 6.625% 7/1/38

1,700,000

1,969,484

New Jersey Tpk. Auth. Tpk. Rev. Series 2009 E, 5.25% 1/1/40

1,000,000

1,123,210

Municipal Bonds - continued

 

Principal Amount

Value

New Jersey - continued

New Jersey Trans. Trust Fund Auth. Series 2005 B, 5.25% 12/15/22 (AMBAC Insured)

$ 400,000

$ 496,388

Union County Impt. Auth. (Juvenile Detention Ctr. Facility Proj.) Series 2005, 5.5% 5/1/28 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,000,000

1,050,590

 

39,115,954

New Mexico - 0.2%

New Mexico Edl. Assistance Foundation Series 2010 A1, 5% 12/1/19

2,000,000

2,314,460

New York - 10.9%

Hudson Yards Infrastructure Corp. New York Rev.:

Series 2012 A, 5.75% 2/15/47

2,700,000

3,213,486

Series A:

5% 2/15/47

2,000,000

2,122,580

5% 2/15/47

1,200,000

1,273,548

Long Island Pwr. Auth. Elec. Sys. Rev. Series 2012 A, 5% 9/1/42

2,300,000

2,576,529

Metropolitan Trans. Auth. Svc. Contract Rev. Series 7, 5.625% 7/1/16 (Escrowed to Maturity)

180,000

191,353

New York City Gen. Oblig.:

Series 2005 G, 5% 8/1/15

1,000,000

1,109,590

Series 2008 A1, 5.25% 8/15/27

1,500,000

1,765,935

Series 2008 D1, 5.125% 12/1/22

2,000,000

2,388,460

Series 2009 I1, 5.625% 4/1/29

600,000

729,630

Series 2012 A, 5% 8/1/24

1,300,000

1,561,508

Series 2012 E, 5% 8/1/24

5,000,000

6,059,000

Series 2012 G1:

5% 4/1/25

2,500,000

3,029,050

5% 4/1/27

3,500,000

4,208,785

Series 2013 D, 5% 8/1/23

3,400,000

4,242,622

New York City Indl. Dev. Agcy. Civic Facility Rev. (Polytechnic Univ. NY Proj.) 5.25% 11/1/27 (ACA Finl. Guaranty Corp. Insured)

600,000

653,382

New York City Muni. Wtr. Fin. Auth. Wtr. & Swr. Sys. Rev.:

Series 2005 D:

5% 6/15/37

400,000

433,128

5% 6/15/38

1,300,000

1,398,215

5% 6/15/39

500,000

537,655

Series 2009 A, 5.75% 6/15/40

2,300,000

2,738,909

Series 2009 CC, 5% 6/15/34

2,100,000

2,390,073

Series 2009 EE, 5.25% 6/15/40

2,100,000

2,426,928

Municipal Bonds - continued

 

Principal Amount

Value

New York - continued

New York City Muni. Wtr. Fin. Auth. Wtr. & Swr. Sys. Rev.: - continued

Series 2009 FF 2, 5.5% 6/15/40

$ 3,000,000

$ 3,520,380

Series 2011 EE, 5.375% 6/15/43

4,000,000

4,706,680

Series 2012 AA, 5% 6/15/44

1,800,000

2,026,134

Series 2012 CC, 5% 6/15/45

1,400,000

1,584,968

Series 2012 EE, 5.25% 6/15/30

5,100,000

6,263,973

New York City Transitional Fin. Auth. Bldg. Aid Rev.:

Series 2009 S1, 5.5% 7/15/31

1,000,000

1,149,060

Series 2009 S3:

5.25% 1/15/34

4,000,000

4,523,800

5.25% 1/15/39

1,000,000

1,109,010

Series 2009 S4:

5.5% 1/15/39

850,000

978,877

5.75% 1/15/39

1,600,000

1,864,416

Series S1, 5% 7/15/25

1,900,000

2,299,133

New York City Transitional Fin. Auth. Rev.:

Series 2004 B, 5% 8/1/32 (Pre-Refunded to 8/1/13 @ 100)

785,000

803,243

Series 2004 C, 5% 2/1/33 (Pre-Refunded to 2/1/14 @ 100)

185,000

193,730

New York Dorm. Auth. Personal Income Tax Rev.:

(Ed. Proj.):

Series 2007 A, 5% 3/15/32

2,400,000

2,708,064

Series 2008 B, 5.75% 3/15/36

3,400,000

4,149,598

Series 2009 A, 5% 2/15/34

1,100,000

1,276,341

New York Dorm. Auth. Revs.:

(City Univ. Sys. Consolidation Proj.) Series A, 5.75% 7/1/13

410,000

419,082

(New York Univ. Hosp. Ctr. Proj.):

Series 2007 A, 5% 7/1/14

1,000,000

1,057,850

Series 2007 B, 5.25% 7/1/24

200,000

218,048

Series 2002 A, 5.75% 10/1/17 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

10,000

10,040

New York Metropolitan Trans. Auth. Dedicated Tax Fund Rev.:

Series 2009 A, 5.5% 11/15/39

5,000,000

5,712,450

Series 2009 B, 5% 11/15/34

1,200,000

1,361,904

New York Metropolitan Trans. Auth. Rev.:

Series 2003 B, 5.25% 11/15/19 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,900,000

2,331,395

Series 2008 A, 5.25% 11/15/36

3,700,000

4,127,128

Municipal Bonds - continued

 

Principal Amount

Value

New York - continued

New York Metropolitan Trans. Auth. Rev.: - continued

Series 2008 C, 6.5% 11/15/28

$ 1,000,000

$ 1,267,460

Series 2010 D, 5.25% 11/15/40

1,400,000

1,581,762

Series 2012 D, 5% 11/15/25

4,600,000

5,521,196

New York Sales Tax Asset Receivables Corp. Series 2005 A, 5.25% 10/15/27 (AMBAC Insured)

1,500,000

1,613,430

New York Thruway Auth. Gen. Rev. Series 2005 G, 5.25% 1/1/27

1,600,000

1,752,784

New York Thruway Auth. Personal Income Tax Rev. Series 2007 A, 5.25% 3/15/25

1,500,000

1,748,955

New York Thruway Auth. Second Gen. Hwy. & Bridge Trust Fund Series 2007 A, 5% 4/1/21

1,100,000

1,277,188

Tobacco Settlement Fing. Corp.:

Series 2003 A1:

5.25% 6/1/21 (AMBAC Insured)

1,000,000

1,014,670

5.25% 6/1/22 (AMBAC Insured)

2,360,000

2,394,550

Series 2003 B, 5.5% 6/1/18

305,000

306,217

Series 2003B 1C:

5.5% 6/1/19

1,600,000

1,625,504

5.5% 6/1/21

5,000,000

5,078,200

5.5% 6/1/22

1,500,000

1,523,415

Series 2011:

5% 6/1/17

2,300,000

2,678,649

5% 6/1/17

2,200,000

2,562,186

Triborough Bridge & Tunnel Auth. Revs. Series 2012 B, 5% 11/15/23

1,000,000

1,243,100

 

132,634,936

New York & New Jersey - 0.2%

Port Auth. of New York & New Jersey 124th Series, 5% 8/1/13 (Nat'l. Pub. Fin. Guarantee Corp. Insured) (d)

500,000

501,615

Port Auth. of New York & New Jersey Spl. Oblig. Rev. (JFK Int'l. Air Term. Spl. Proj.) Series 6, 6.25% 12/1/13 (Nat'l. Pub. Fin. Guarantee Corp. Insured) (d)

1,400,000

1,448,930

 

1,950,545

North Carolina - 1.1%

Charlotte Ctfs. of Prtn. (2003 Govt. Facilities Projs.) Series G, 5% 6/1/33

1,000,000

1,011,970

Charlotte Int'l. Arpt. Rev. (Charlotte Douglas Int'l. Arpt. Proj.) Series 2010 B, 5.5% 7/1/24 (d)

1,000,000

1,177,230

Municipal Bonds - continued

 

Principal Amount

Value

North Carolina - continued

Nash Health Care Sys. Health Care Facilities Rev.:

Series 2012, 5% 11/1/41

$ 700,000

$ 758,646

5% 11/1/30 (FSA Insured)

1,200,000

1,299,924

North Carolina Eastern Muni. Pwr. Agcy. Pwr. Sys. Rev. Series 2009 B, 5% 1/1/26

2,100,000

2,391,480

North Carolina Med. Care Cmnty. Health (Memorial Mission Hosp. Proj.) Series 2007, 5% 10/1/20

1,000,000

1,133,660

North Carolina Med. Care Commission Health Care Facilities Rev. (Rex Healthcare Proj.) Series 2010 A, 5% 7/1/30

1,600,000

1,753,136

North Carolina Muni. Pwr. Agcy. #1 Catawba Elec. Rev.:

Series 2009 A, 5% 1/1/30

1,000,000

1,134,680

Series 2010 B, 5% 1/1/20

1,300,000

1,582,165

Union County Ctfs. of Prtn. 5% 6/1/18 (AMBAC Insured)

1,305,000

1,490,793

 

13,733,684

North Dakota - 0.4%

Cass County Health Care Facilities Rev. (Essentia Health Obligated Group Proj.) Series 2008, 5.125% 2/15/37 (Assured Guaranty Corp. Insured)

750,000

817,538

Mclean County Solid Waste Facilities Rev. (Great River Energy Projects) Series 2010 B, 5.15% 7/1/40

2,300,000

2,501,802

Ward County Health Care Facility Rev. (Trinity Med. Ctr. Proj.) 5.125% 7/1/17

1,210,000

1,316,770

 

4,636,110

Ohio - 0.7%

Buckeye Tobacco Settlement Fing. Auth. Series 2007 A1:

5% 6/1/16

800,000

885,456

5% 6/1/17

925,000

1,045,888

Lake County Hosp. Facilities Rev. (Lake Hosp. Sys., Inc. Proj.) Series 2008 C, 5.75% 8/15/38

1,000,000

1,114,840

Lucas County Hosp. Rev. (ProMedica Heathcare Oblig. Group Proj.) Series 2011 A, 6.5% 11/15/37

1,200,000

1,488,432

Ohio Air Quality Dev. Auth. Rev. Series 2009 C, 5.625% 6/1/18

400,000

467,124

Ohio Wtr. Dev. Auth. Poll. Cont. Facilities Rev. Bonds (FirstEnergy Corp. Proj.) Series 2009 A, 5.875%, tender 6/1/16 (c)

1,500,000

1,696,740

Ross County Hosp. Facilities Rev. (Adena Health Sys. Proj.) Series 2008, 5.75% 12/1/35

1,400,000

1,550,556

 

8,249,036

Municipal Bonds - continued

 

Principal Amount

Value

Oklahoma - 0.8%

Oklahoma City Pub. Property Auth. Hotel Tax Rev. Series 2005, 5.5% 10/1/21 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

$ 1,695,000

$ 1,866,619

Oklahoma City Wtr. Utils. Trust Wtr. and Swr. Rev. Series 2009 A, 5% 7/1/34

1,000,000

1,150,300

Oklahoma Dev. Fin. Auth. Health Sys. Rev. (Integris Baptist Med. Ctr. Proj.) Series C, 5.5% 8/15/22

2,865,000

3,320,592

Oklahoma Dev. Fin. Auth. Rev. (Saint John Health Sys. Proj.) 5% 2/15/42

1,375,000

1,515,553

Tulsa County Indl. Auth. Health Care Rev. 5% 12/15/18

1,500,000

1,709,535

 

9,562,599

Oregon - 0.5%

Forest Grove Campus Impt. Rev. (Pacific Univ. Proj.) Series 2009, 6.375% 5/1/39

1,200,000

1,238,580

Oregon Facilities Auth. Rev. (PeaceHealth Proj.) Seroes 2009 A, 5% 11/1/39

740,000

808,872

Oregon Gen. Oblig. (State Board of Higher Ed. Proj.) Series 2009 A:

5.75% 8/1/25 (Pre-Refunded to 8/1/18 @ 100)

500,000

629,890

5.75% 8/1/26 (Pre-Refunded to 8/1/18 @ 100)

1,000,000

1,259,780

5.75% 8/1/28 (Pre-Refunded to 8/1/18 @ 100)

500,000

629,890

5.75% 8/1/29 (Pre-Refunded to 8/1/18 @ 100)

500,000

629,890

Yamhill County School District #029J Newberg 5.5% 6/15/19 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,000,000

1,243,170

 

6,440,072

Pennsylvania - 1.5%

Allegheny County Hosp. Dev. Auth. Rev.:

(Pittsburgh Med. Ctr. Proj.) Series B, 5% 6/15/16

850,000

959,982

(Univ. of Pittsburgh Med. Ctr. Proj.) Series 2009 A, 5.625% 8/15/39

1,100,000

1,236,708

Annville-Cleona School District 5.5% 3/1/22 (FSA Insured)

1,250,000

1,369,400

Centre County Hosp. Auth. Rev. (Mount Nittany Med. Ctr. Proj.) Series 2011, 7% 11/15/46

500,000

641,720

Easton Area School District Series 2006:

7.75% 4/1/25 (FSA Insured)

315,000

376,743

7.75% 4/1/25 (FSA Insured) (Pre-Refunded to 4/1/16 @ 100)

385,000

471,594

Mifflin County School District Series 2007, 7.75% 9/1/30 (XL Cap. Assurance, Inc. Insured)

400,000

492,328

Monroeville Fin. Auth. UPMC Rev. Series 2012, 5% 2/15/27

800,000

976,952

Municipal Bonds - continued

 

Principal Amount

Value

Pennsylvania - continued

Montgomery County Higher Ed. & Health Auth. Hosp. Rev. (Abington Memorial Hosp. Proj.):

Series 2012 A, 5% 6/1/24

$ 600,000

$ 696,402

Series A, 6% 6/1/16 (AMBAC Insured)

1,860,000

2,139,372

Pennsylvania Tpk. Commission Tpk. Rev. Series 2009 D, 5.5% 12/1/41

2,400,000

2,658,240

Philadelphia Gas Works Rev.:

(1975 Gen. Ordinance Proj.) Seventeenth Series, 5.375% 7/1/20 (FSA Insured)

500,000

507,425

(1998 Gen. Ordinance Proj.):

Fifth Series A1, 5% 9/1/33 (FSA Insured)

150,000

154,593

Ninth Series, 5.25% 8/1/40

800,000

859,872

Philadelphia Gen. Oblig. Series 2008 B, 7.125% 7/15/38 (Assured Guaranty Corp. Insured)

600,000

689,316

Philadelphia School District Series 2005 A, 5% 8/1/22 (AMBAC Insured)

200,000

214,446

Westmoreland County Muni. Auth. Muni. Svc. Rev. Series A, 0% 8/15/21 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

5,000,000

3,961,100

 

18,406,193

Puerto Rico - 0.5%

Puerto Rico Govt. Dev. Bank Series 2006 C, 5.25% 1/1/15 (d)

1,000,000

1,015,330

Puerto Rico Pub. Bldg. Auth. Rev.:

Bonds Series M2:

5.5%, tender 7/1/17 (AMBAC Insured) (c)

600,000

643,764

5.75%, tender 7/1/17 (c)

1,100,000

1,191,322

Series N, 5.5% 7/1/22

1,100,000

1,145,694

Puerto Rico Sales Tax Fing. Corp. Sales Tax Rev.:

Series 2007 A, 0% 8/1/41 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,000,000

207,900

Series 2009 A, 6% 8/1/42

1,400,000

1,536,836

 

5,740,846

Rhode Island - 0.2%

Rhode Island Health & Edl. Bldg. Corp. Higher Ed. Facilities Rev. Series A, 5.25% 9/15/17 (AMBAC Insured)

1,000,000

1,073,430

Rhode Island Port Auth. & Econ. Dev. Corp. Arpt. Rev. Series A, 7% 7/1/14 (FSA Insured) (d)

1,515,000

1,579,085

 

2,652,515

Municipal Bonds - continued

 

Principal Amount

Value

South Carolina - 1.8%

Greenwood Fifty School Facilities Installment 5% 12/1/21 (Assured Guaranty Corp. Insured)

$ 1,000,000

$ 1,175,970

Lexington One School Facilities Corp. Rev. (Lexington County School District No. 1 Proj.) 5% 12/1/17

1,015,000

1,181,825

South Carolina Jobs-Econ. Dev. Auth. Econ. Dev. Rev. Series 2013, 5% 11/1/27

1,400,000

1,591,786

South Carolina Jobs-Econ. Dev. Auth. Health Facilities Rev. (Bishop Gadsden Proj.) Series 2007, 5% 4/1/16

1,000,000

1,080,110

South Carolina Pub. Svc. Auth. (Santee Cooper) Rev. Oblig.:

Series 2012 B, 5% 12/1/20

2,500,000

3,126,750

Series 2012 C:

5% 12/1/14

2,000,000

2,169,160

5% 12/1/18

1,000,000

1,213,690

Series 2012 D, 5% 12/1/43

3,300,000

3,721,476

South Carolina Pub. Svc. Auth. Rev. (Santee Cooper Proj.) Series 2009 B, 5.25% 1/1/39

5,000,000

5,786,100

Univ. of South Carolina Athletic Facilities Rev. Series 2008 A, 5.5% 5/1/38

995,000

1,128,648

 

22,175,515

South Dakota - 0.1%

South Dakota Health & Edl. Facilities Auth. Rev. Series 2012 E, 5% 11/1/42

1,500,000

1,632,555

Tennessee - 0.8%

Clarksville Natural Gas Acquisition Corp. Gas Rev.:

Series 2006:

5% 12/15/13

1,000,000

1,036,490

5% 12/15/15

1,500,000

1,653,570

5% 12/15/16

1,500,000

1,677,630

Jackson Hosp. Rev. (Jackson-Madison County Gen. Hosp. Proj.) Series 2008, 5.75% 4/1/41

1,000,000

1,109,230

Knox County Health Edl. & Hsg. Facilities Board Rev. (Univ. Health Sys. Proj.) Series 2007, 5% 4/1/16

1,805,000

1,993,659

Memphis-Shelby County Arpt. Auth. Arpt. Rev. Series 2010 B, 5.75% 7/1/24 (d)

1,600,000

1,857,920

 

9,328,499

Texas - 10.8%

Aledo Independent School District (School Bldg. Proj.) Series 2006 A, 5% 2/15/43

1,200,000

1,341,504

Municipal Bonds - continued

 

Principal Amount

Value

Texas - continued

Austin Cmnty. College District Pub. Facilities Lease Rev. (Round Rock Campus Proj.) Series 2008, 5.5% 8/1/20

$ 1,000,000

$ 1,210,000

Bastrop Independent School District Series 2007, 5.25% 2/15/42

5,000,000

5,603,150

Beaumont Independent School District 5% 2/15/38 (Assured Guaranty Corp. Insured)

300,000

333,063

Comal Independent School District:

Series 2007, 5% 2/1/36

2,500,000

2,756,350

Series 2008A, 5.25% 2/1/23

2,240,000

2,635,248

Corpus Christi Util. Sys. Rev.:

5% 7/15/23

1,600,000

1,937,616

5.25% 7/15/18 (FSA Insured)

1,000,000

1,172,400

Corsicana Independent School District 5.125% 2/15/28

1,015,000

1,091,592

Cypress-Fairbanks Independent School District Series A, 0% 2/15/16

1,400,000

1,365,742

Dallas Area Rapid Transit Sales Tax Rev. Series 2008, 5.25% 12/1/43

3,785,000

4,387,837

Dallas Fort Worth Int'l. Arpt. Rev.:

Series 2007, 5% 11/1/19 (XL Cap. Assurance, Inc. Insured) (d)

2,500,000

2,654,925

Series 2009 A, 5% 11/1/24

1,000,000

1,130,670

Series A, 5% 11/1/42

3,000,000

3,294,090

Dallas Independent School District Series 2008, 6.375% 2/15/34

300,000

369,099

Eagle Mountain & Saginaw Independent School District Series 2008, 5% 8/15/38

1,480,000

1,686,297

Frisco Independent School District Series 2008 A, 6% 8/15/33

1,200,000

1,489,020

Guadalupe-Blanco River Auth. Contract Rev. (Western Canyon Reg'l. Wtr. Supply Proj.) 5.25% 4/15/20 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,000,000

1,008,000

Gulf Coast Waste Disp. Auth. Solid Waste Disp. Rev. Bonds (Waste Mgmt. of Texas, Inc. Denton County Proj.) Series 2003 B, 3.5%, tender 5/1/13 (c)(d)

1,500,000

1,510,035

Harris County Cultural Ed. Facilities Fin. Corp. Med. Facilities Rev. (Baylor College of Medicine Proj.) Series 2012 A, 5% 11/15/37

2,500,000

2,825,800

Harris County Gen. Oblig.:

(Permanent Impt. Proj.) Series 1996, 0% 10/1/17 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

2,500,000

2,368,950

(Road Proj.) Series 2008 B, 5.25% 8/15/47

8,000,000

9,027,840

Series 2002, 0% 8/15/24 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,000,000

747,540

Municipal Bonds - continued

 

Principal Amount

Value

Texas - continued

Harris County Gen. Oblig.: - continued

5.25% 10/1/24 (Pre-Refunded to 10/1/14 @ 100)

$ 230,000

$ 248,386

5.25% 10/1/24 (Pre-Refunded to 10/1/14 @ 100)

370,000

400,544

Harris County Health Facilities Dev. Corp. Hosp. Rev. (Memorial Hermann Healthcare Sys. Proj.) Series 2008 B, 7.25% 12/1/35

1,200,000

1,499,616

Hays Consolidated Independent School District Series A, 5.125% 8/15/30

1,000,000

1,093,240

Houston Arpt. Sys. Rev. Series 2011 A, 5% 7/1/24 (d)

1,250,000

1,451,613

Houston Independent School District Series 2005 A, 0% 2/15/16

1,700,000

1,658,401

Humble Independent School District:

Series 2000, 0% 2/15/17

1,000,000

959,460

Series 2005 B, 5.25% 2/15/20 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,800,000

1,958,508

Irving Gen. Oblig. Series 2009, 5% 9/15/19

1,690,000

2,080,069

Judson Independent School District Series 2005 B, 5% 2/1/24 (FSA Insured)

950,000

987,107

Kermit Independent School District Series 2007, 5.25% 2/15/32

700,000

789,929

Lampasas Independent School District:

5.25% 2/15/32

450,000

501,611

5.25% 2/15/32 (Pre-Refunded to 2/15/16 @ 100)

550,000

626,621

Lewisville Independent School District 0% 8/15/19

2,340,000

2,095,189

Liberty Hill Independent School District (School Bldg. Proj.) Series 2006, 5.25% 8/1/35

1,100,000

1,207,921

Longview Independent School District 5% 2/15/37

1,000,000

1,152,960

Lower Colorado River Auth. Rev.:

5.75% 5/15/37

205,000

221,168

5.75% 5/15/37 (Pre-Refunded to 5/15/15 @ 100)

25,000

28,036

5.75% 5/15/37 (Pre-Refunded to 5/15/15 @ 100)

1,070,000

1,199,919

Mansfield Independent School District 5.5% 2/15/17

25,000

25,101

North Texas Tollway Auth. Rev.:

Bonds Series 2008 E3, 5.75%, tender 1/1/16 (c)

1,000,000

1,130,450

Series 2008 A, 6% 1/1/24

2,000,000

2,334,300

Series 2008 I, 0% 1/1/42 (Assured Guaranty Corp. Insured) (a)

1,100,000

1,210,418

Series 2009 A, 6.25% 1/1/39

1,800,000

2,051,658

Series 2011 A:

5.5% 9/1/41

500,000

594,270

6% 9/1/41

1,200,000

1,491,852

Series 2011 D, 5% 9/1/28

2,300,000

2,721,682

Municipal Bonds - continued

 

Principal Amount

Value

Texas - continued

Northwest Texas Independent School District 5.5% 8/15/21

$ 170,000

$ 170,655

Prosper Independent School District:

Series 2005, 5.125% 8/15/30

400,000

437,820

5.375% 8/15/37

2,000,000

2,284,280

San Antonio Arpt. Sys. Rev.:

5% 7/1/16 (FSA Insured) (d)

1,635,000

1,830,056

5.25% 7/1/18 (FSA Insured) (d)

2,505,000

2,860,284

San Antonio Elec. & Gas Sys. Rev.:

Series 2008, 5% 2/1/24

1,000,000

1,172,890

Series 2012, 5.25% 2/1/25

800,000

1,046,048

San Antonio Wtr. Sys. Rev. Series 2012, 5% 5/15/23

5,000,000

6,225,950

San Jacinto Cmnty. College District Series 2009, 5% 2/15/39

2,300,000

2,562,637

Southwest Higher Ed. Auth. Rev. (Southern Methodist Univ. Proj.) Series 2010, 5% 10/1/35

400,000

464,132

Spring Branch Independent School District Series 2008, 5.25% 2/1/38

3,145,000

3,567,311

Tarrant County Cultural Ed. Facilities Fin. Corp. Hosp. Rev.:

(Baylor Health Care Sys. Proj.) Series 2009, 5.75% 11/15/24

1,100,000

1,316,678

(Hendrick Med. Ctr. Proj.) Series 2009 B, 5.25% 9/1/28 (Assured Guaranty Corp. Insured)

1,235,000

1,380,075

Texas Gen. Oblig.:

(Trans. Commission Mobility Fund Proj.) Series 2005 A, 4.75% 4/1/35

1,500,000

1,597,710

Series 2006 A, 5% 4/1/29

560,000

635,275

Series 2006, 5% 4/1/27

1,000,000

1,118,630

Series 2008, 5% 4/1/25

800,000

938,832

Texas Muni. Pwr. Agy. Rev.:

0% 9/1/15 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,100,000

1,073,237

0% 9/1/16 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,800,000

1,725,912

Texas Private Activity Bond Surface Trans. Corp.:

(LBJ Infrastructure Group LLC IH-635 Managed Lanes Proj.) Series 2010, 7% 6/30/40

1,200,000

1,454,328

(NTE Mobility Partners LLC North Tarrant Express Managed Lanes Proj.) Series 2009, 6.875% 12/31/39

2,100,000

2,502,948

Texas Trans. Commission Central Texas Tpk. Sys. Rev. Bonds Series 2012 B, 1.25%, tender 2/15/15 (c)

600,000

602,760

Municipal Bonds - continued

 

Principal Amount

Value

Texas - continued

Texas Trans. Commission State Hwy. Fund Rev. Series 2007:

5% 4/1/21

$ 1,000,000

$ 1,168,630

5% 4/1/23

1,500,000

1,739,625

5% 4/1/25

600,000

693,198

5% 4/1/26

800,000

922,504

Texas Wtr. Dev. Board Rev. Series 2008 B, 5.25% 7/15/23

1,600,000

1,860,016

Waller Independent School District:

5.5% 2/15/28

1,670,000

1,968,379

5.5% 2/15/37

2,100,000

2,433,543

 

131,421,140

Utah - 0.3%

Utah Associated Muni. Pwr. Sys. Rev. (Payson Pwr. Proj.) 5% 9/1/20

850,000

1,011,891

Utah State Board of Regents Rev. Series 2011 B, 5% 8/1/27

1,000,000

1,146,970

Utah Transit Auth. Sales Tax Rev. Series 2008 A, 5.25% 6/15/38

1,200,000

1,399,296

 

3,558,157

Vermont - 0.4%

Vermont Edl. & Health Bldg. Fin. Agcy. Rev.:

(Fletcher Allen Health Care, Inc. Proj.) Series 2000 A, 6.125% 12/1/27 (AMBAC Insured)

830,000

832,963

(Fletcher Allen Health Care Proj.) Series 2004 B, 5.5% 12/1/28 (FSA Insured)

2,600,000

2,932,436

(Middlebury College Proj.) Series 2006 A, 5% 10/31/46

1,000,000

1,101,830

 

4,867,229

Virginia - 0.5%

Louisa Indl. Dev. Auth. Poll. Cont. Rev. Bonds (Virginia Elec. & Pwr. Co. Proj.) Series 2008 B, 5.375%, tender 12/2/13 (c)

4,000,000

4,160,640

Virginia Small Bus. Fing. Auth. (95 Express Lane LLC Proj.) Series 2012, 5% 1/1/40 (d)

1,800,000

1,865,358

 

6,025,998

Municipal Bonds - continued

 

Principal Amount

Value

Washington - 3.5%

Chelan County Pub. Util. District #1 Columbia River-Rock Island Hydro-Elec. Sys. Rev. Series 1997 A, 0% 6/1/17 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

$ 1,000,000

$ 916,400

Energy Northwest Elec. Rev. Series 2012 A, 5% 7/1/21

4,000,000

5,022,640

Grant County Pub. Util. District #2 Wanapum Hydro Elec. Rev. Series B, 5.25% 1/1/22 (Nat'l. Pub. Fin. Guarantee Corp. Insured) (d)

1,950,000

2,058,849

Kent Spl. Events Ctr. Pub. Facilities District Rev. Series 2008, 5.25% 12/1/32 (FSA Insured)

2,000,000

2,226,000

King County Gen. Oblig.:

(Swr. Proj.) Series 2005, 5% 1/1/26 (Pre-Refunded to 1/1/15 @ 100)

1,000,000

1,088,430

5% 1/1/35 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

540,000

575,262

5% 1/1/35 (Pre-Refunded to 1/1/15 @ 100)

1,460,000

1,589,108

King County Swr. Rev.:

Series 2008, 5.75% 1/1/43

3,600,000

4,235,112

Series 2009, 5.25% 1/1/42

1,000,000

1,162,010

Series 2010, 5% 1/1/50

1,300,000

1,436,916

Spokane Gen. Oblig. 5.25% 12/1/24 (AMBAC Insured)

1,000,000

1,076,350

Spokane Pub. Facilities District Hotel/Motel Tax & Sales/Use Tax Rev. 5.75% 12/1/24 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

1,000,000

1,037,010

Washington Gen. Oblig.:

Series R 97A, 0% 7/1/19 (Escrowed to Maturity)

1,200,000

1,093,932

Series S5, 0% 1/1/18 (Nat'l. Pub. Fin. Guarantee Corp. Insured)

2,230,000

2,118,322

Washington Health Care Facilities Auth. Rev.:

(Catholic Health Initiatives Proj.) Series 2008 D, 6.375% 10/1/36

3,000,000

3,574,530

(MultiCare Health Sys. Proj.):

Series 2008 B, 6% 8/15/39 (Assured Guaranty Corp. Insured)

1,000,000

1,159,930

Series 2010 A, 5% 8/15/18

2,295,000

2,627,729

(Providence Health Systems Proj.):

Series 2006 D, 5.25% 10/1/33

1,000,000

1,120,320

Series 2012 A, 5% 10/1/24

3,300,000

3,966,072

(Seattle Children's Hosp. Proj.) Series 2009, 5.625% 10/1/38

1,400,000

1,602,902

5.7% 7/1/38

2,270,000

2,496,818

 

42,184,642

Municipal Bonds - continued

 

Principal Amount

Value

West Virginia - 0.1%

West Virginia Hosp. Fin. Auth. Hosp. Rev. (West Virginia United Health Sys. Proj.) Series 2008 E, 5.625% 6/1/35

$ 1,000,000

$ 1,103,250

Wisconsin - 0.3%

Wisconsin Health & Edl. Facilities Auth. Rev.:

(Agnesian HealthCare, Inc. Proj.) Series 2010:

5.5% 7/1/40

500,000

536,705

5.75% 7/1/30

500,000

565,500

(Marshfield Clinic Proj.) Series A, 5.375% 2/15/34

1,000,000

1,054,000

(Wheaton Franciscan Healthcare Sys. Proj.) Series 2003 A, 5.5% 8/15/16

795,000

813,738

Series 2012, 5% 6/1/39

190,000

206,348

 

3,176,291

Wyoming - 0.2%

Campbell County Solid Waste Facilities Rev. (Basin Elec. Pwr. Coop. - Dry Fork Station Facilities Proj.) Series 2009 A, 5.75% 7/15/39

1,700,000

1,923,125

TOTAL INVESTMENT PORTFOLIO - 99.4%

(Cost $1,101,346,130)

1,210,519,500

NET OTHER ASSETS (LIABILITIES) - 0.6%

7,580,824

NET ASSETS - 100%

$ 1,218,100,324

Legend

(a) Security initially issued in zero coupon form which converts to coupon form at a specified rate and date. The rate shown is the rate at period end.

(b) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(c) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(d) Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals.

Other Information

All investments are categorized as Level 2 under the Fair Value Hierarchy. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, please refer to the Investment Valuation section at the end of this listing.

Income Tax Information

At January 31, 2013, the cost of investment securities for income tax purposes was $1,100,945,258. Net unrealized appreciation aggregated $109,574,242, of which $110,325,350 related to appreciated investment securities and $751,108 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. For municipal securities, pricing vendors utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as broker-supplied prices.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

Quarterly Report

The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please visit advisor.fidelity.com or call Fidelity at 1-877-208-0098 for a free copy of the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC

or an affiliate.

Quarterly Report

Item 2. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Advisor Series II's (the "Trust") disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the Trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the Trust's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting.

Item 3. Exhibits

Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Fidelity Advisor Series II

By:

/s/Stephanie J. Dorsey

 

Stephanie J. Dorsey

 

President and Treasurer

 

 

Date:

April 1, 2013

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

By:

/s/Stephanie J. Dorsey

 

Stephanie J. Dorsey

 

President and Treasurer

 

 

Date:

April 1, 2013

By:

/s/Christine Reynolds

 

Christine Reynolds

 

Chief Financial Officer

 

 

Date:

April 1, 2013