N-Q 1 nq1.htm NQU Form N-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q


QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number         811-06303         

        Nuveen Quality Income Municipal Fund, Inc.         
(Exact name of registrant as specified in charter)


        333 West Wacker Drive, Chicago, Illinois 60606         

(Address of principal executive offices) (Zip code)


Jessica R. Droeger—Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         

(Name and address of agent for service)

Registrant's telephone number, including area code:         312-917-7700        

Date of fiscal year end:            10/31          

Date of reporting period:          1/31/06         

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments

  Portfolio of Investments (Unaudited)
Nuveen Quality Income Municipal Fund, Inc. (NQU)
January 31, 2006

        Optional         
Principal        Call         
Amount (000)    Description (1)    Provisions (2)    Ratings (3)    Value 

    Alabama – 3.2% (2.1% of Total Investments)             
$       3,500    Bessemer Governmental Utility Services Corporation, Alabama, Water Supply Revenue Bonds,    6/08 at 102.00    AAA   $   3,685,255 
     Series 1998, 5.200%, 6/01/24 – MBIA Insured             
    Jefferson County, Alabama, Sewer Revenue Capitol Improvement Warrants, Series 2001A:             
7,475     5.500%, 2/01/31 (Pre-refunded 2/01/11) – FGIC Insured    2/11 at 101.00    AAA    8,209,120 
6,340     5.500%, 2/01/31 (Pre-refunded 2/01/11) – FGIC Insured    2/11 at 101.00    AAA    6,941,286 
6,970     5.500%, 2/01/31 (Pre-refunded 2/01/11) – FGIC Insured    2/11 at 101.00    AAA    7,654,524 

24,285    Total Alabama            26,490,185 

    Alaska – 0.8% (0.5% of Total Investments)             
6,110    Alaska Housing Finance Corporation, General Housing Purpose Bonds, Series 2005A, 5.000%,    12/14 at 100.00    AAA    6,346,090 
     12/01/27 – FGIC Insured             

    Arizona – 1.8% (1.2% of Total Investments)             
5,350    Arizona Tourism and Sports Authority, Tax Revenue Bonds, Multipurpose Stadium Facility    7/13 at 100.00    Aaa    5,566,515 
     Project, Series 2003A, 5.000%, 7/01/28 – MBIA Insured             
1,000    Mesa, Arizona, Utility System Revenue Refunding Bonds, Series 2002, 5.250%, 7/01/17 – FGIC    No Opt. Call    AAA    1,117,040 
     Insured             
8,010    Salt River Project Agricultural Improvement and Power District, Arizona, Electric System    1/12 at 101.00    AA    8,396,082 
     Revenue Refunding Bonds, Series 2002A, 5.125%, 1/01/27             

14,360    Total Arizona            15,079,637 

    Arkansas – 0.5% (0.3% of Total Investments)             
4,000    University of Arkansas, Fayetteville, Revenue Bonds, Medical Sciences Campus, Series 2004B,    11/14 at 100.00    Aaa    4,156,280 
     5.000%, 11/01/34 – MBIA Insured             

    California – 6.6% (4.3% of Total Investments)             
1,000    California Department of Water Resources, Power Supply Revenue Bonds, Series 2002A, 5.750%,    5/12 at 101.00    A2 (4)    1,131,210 
     5/01/17 (Pre-refunded 5/01/12)             
6,000    California Health Facilities Financing Authority, Health Facility Revenue Bonds, Adventist    3/13 at 100.00    A    6,058,560 
     Health System/West, Series 2003A, 5.000%, 3/01/33             
3,450    California Infrastructure Economic Development Bank, Revenue Bonds, J. David Gladstone    10/11 at 101.00    A–    3,544,392 
     Institutes, Series 2001, 5.250%, 10/01/34             
1,360    California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity    7/15 at 100.00    BBB+    1,396,026 
     Health System, Series 2005A, 5.250%, 7/01/30             
14,600    California, General Obligation Bonds, Series 2003, 5.250%, 2/01/28    8/13 at 100.00    A    15,543,744 
5,000    California, General Obligation Veterans Welfare Bonds, Series 1997BH, 5.600%, 12/01/32    6/06 at 100.00    AA–    5,037,650 
     (Alternative Minimum Tax)             
10,000    California, Various Purpose General Obligation Bonds, Series 1999, 4.750%, 4/01/29 – MBIA    4/09 at 101.00    AAA    10,065,100 
     Insured             
8,500    Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Series    1/10 at 100.00    AAA    8,783,900 
     1995A, 5.000%, 1/01/35 – MBIA Insured             
1,500    San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment    8/10 at 101.00    AAA    1,533,540 
     Project, Series 2002, 5.000%, 8/01/32 – MBIA Insured             
1,500    Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed    6/15 at 100.00    BBB    1,506,945 
     Bonds, Series 2005A-1, 5.500%, 6/01/45             

52,910    Total California            54,601,067 

    Colorado – 5.5% (3.6% of Total Investments)             
5,240    Adams 12 Five Star Schools, Adams County, Colorado, General Obligation Bonds, Series 2005,    12/15 at 100.00    AAA    5,556,077 
     5.000%, 12/15/24 – FSA Insured             
10,000    Denver City and County, Colorado, Airport System Revenue Refunding Bonds, Series 2000A,    11/10 at 100.00    AAA    10,631,700 
     5.625%, 11/15/23 – AMBAC Insured (Alternative Minimum Tax)             
12,000    E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997A, 4.750%, 9/01/23 –    9/07 at 101.00    AAA    12,177,120 
     MBIA Insured             
14,400    E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B, 0.000%, 9/01/17    9/10 at 65.63    AAA    7,978,896 
     (Pre-refunded 9/01/10) – MBIA Insured             
8,740    Larimer County School District R1, Poudre, Colorado, General Obligation Bonds, Series 2000,    12/10 at 100.00    AAA    9,368,756 
     5.125%, 12/15/19 (Pre-refunded 12/15/10) – FGIC Insured             

50,380    Total Colorado            45,712,549 

    Connecticut – 0.6% (0.4% of Total Investments)             
4,395    Bridgeport, Connecticut, General Obligation Bonds, Series 2001C, 5.375%, 8/15/17 (Pre-refunded    8/11 at 100.00    AAA    4,800,790 
     8/15/11) – FGIC Insured             

    District Of Columbia – 0.6% (0.4% of Total Investments)             
5,000    Washington Convention Center Authority, District of Columbia, Senior Lien Dedicated Tax    10/08 at 101.00    AAA    5,249,950 
     Revenue Bonds, Series 1998, 5.250%, 10/01/17 – AMBAC Insured             

    Florida – 1.7% (1.1% of Total Investments)             
2,250    Dade County, Florida, Water and Sewerage System Revenue Bonds, Series 1997, 5.375%, 10/01/16 –    10/07 at 102.00    AAA    2,366,280 
     FGIC Insured             
5,300    Escambia County Health Facilities Authority, Florida, Revenue Bonds, Ascension Health Credit    No Opt. Call    AA    5,749,705 
     Group, Series 2003A, 5.250%, 11/15/14             
5,000    Orange County Health Facilities Authority, Florida, Hospital Revenue Bonds, Adventist Health    11/10 at 101.00    A+(4)    5,670,900 
     System/Sunbelt Obligated Group, Series 2000, 6.500%, 11/15/30 (Pre-refunded 11/15/10)             

12,550    Total Florida            13,786,885 

    Hawaii – 1.3% (0.9% of Total Investments)             
10,000    Hawaii Department of Transportation, Airport System Revenue Refunding Bonds, Series 2000B,    7/10 at 101.00    AAA    10,885,200 
     5.750%, 7/01/21 – FGIC Insured             

    Illinois – 14.3% (9.3% of Total Investments)             
3,000    Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated    12/11 at 100.00    AAA    3,224,310 
     Revenues, Series 2001C, 5.000%, 12/01/20 (Pre-refunded 12/01/11) – FSA Insured             
    Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated             
    Revenues, Series 2001C:             
1,000     5.500%, 12/01/18 (Pre-refunded 12/01/11) – FSA Insured    12/11 at 100.00    AAA    1,100,880 
3,690     5.000%, 12/01/19 (Pre-refunded 12/01/11) – FSA Insured    12/11 at 100.00    AAA    3,965,901 
2,000     5.000%, 12/01/21 (Pre-refunded 12/01/11) – FSA Insured    12/11 at 100.00    AAA    2,149,540 
    Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax             
    Revenues, Series 1998B-1:             
9,400     0.000%, 12/01/14 – FGIC Insured    No Opt. Call    AAA    6,552,082 
4,400     0.000%, 12/01/15 – FGIC Insured    No Opt. Call    AAA    2,918,740 
32,670    Chicago, Illinois, General Obligation Bonds, City Colleges of Chicago Capital Improvement    No Opt. Call    AAA    9,751,342 
     Project, Series 1999, 0.000%, 1/01/32 – FGIC Insured             
    Chicago, Illinois, General Obligation Bonds, Neighborhoods Alive 21 Program, Series 2000A:             
680     6.000%, 1/01/28 (Pre-refunded 7/01/10) – FGIC Insured    7/10 at 101.00    AAA    754,970 
4,320     6.000%, 1/01/28 (Pre-refunded 7/01/10) – FGIC Insured    7/10 at 101.00    AAA    4,796,280 
6,380    Chicago, Illinois, General Obligation Bonds, Series 2002A, 5.000%, 1/01/18 – AMBAC Insured    7/12 at 100.00    AAA    6,765,480 
70    Chicago, Illinois, General Obligation Bonds, Series 2002A, 5.000%, 1/01/18 (Pre-refunded    7/12 at 100.00    AAA    75,589 
     7/01/12) – AMBAC Insured             
5,045    Chicago, Illinois, General Obligation Refunding Bonds, Series 2000D, 5.750%, 1/01/30 – FGIC    1/10 at 101.00    AAA    5,454,704 
     Insured             
12,750    Chicago, Illinois, Revenue Bonds, Midway Airport, Series 1998A, 5.125%, 1/01/35 – MBIA Insured    1/09 at 101.00    AAA    12,953,617 
     (Alternative Minimum Tax)             
    Chicago, Illinois, Second Lien Wastewater Transmission Revenue Bonds, Series 2000:             
8,000     5.750%, 1/01/25 (Pre-refunded 1/01/10) – MBIA Insured    1/10 at 101.00    AAA    8,730,720 
7,750     6.000%, 1/01/30 (Pre-refunded 1/01/10) – MBIA Insured    1/10 at 101.00    AAA    8,528,255 
    Illinois Educational Facilities Authority, Student Housing Revenue Bonds, Educational             
    Advancement Foundation Fund, University Center Project, Series 2002:             
3,000     6.625%, 5/01/17    5/12 at 101.00    Baa3    3,347,670 
1,800     6.000%, 5/01/22    5/12 at 101.00    Baa3    1,943,334 
1,050    Illinois Finance Authority, General Obligation Debt Certificates, Local Government Program –    12/14 at 100.00    Aaa    1,112,591 
     Kankakee County, Series 2005B, 5.000%, 12/01/20 – AMBAC Insured             
5,000    Illinois Finance Authority, Revenue Bonds, Northwestern Memorial Hospital, Series 2004A,    8/14 at 100.00    AA+    5,318,350 
     5.500%, 8/15/43             
10,000    Illinois Health Facilities Authority, Revenue Bonds, Iowa Health System, Series 2000, 5.875%,    2/10 at 101.00    AAA    10,909,300 
     2/15/30 (ETM) – AMBAC Insured             
2,385    Illinois Housing Development Authority, Section 8 Elderly Housing Revenue Bonds, Garden House    3/06 at 100.00    A    2,387,767 
     of Maywood Development, Series 1992, 7.000%, 9/01/18             
5,000    Illinois, General Obligation Bonds, Illinois FIRST Program, Series 2000, 5.450%, 12/01/21 –    12/10 at 100.00    AAA    5,375,050 
     MBIA Insured             
3,105    Joliet Regional Port District, Illinois, Airport Facilities Revenue Bonds, Lewis University    7/07 at 103.00    N/R (4)    3,258,698 
     Airport, Series 1997A, 7.250%, 7/01/18 (Pre-refunded 7/01/07) (Alternative Minimum Tax)             
4,500    Kane, McHenry, Cook and DeKalb Counties Community Unit School District 300, Carpentersville,    12/11 at 100.00    AAA    4,953,960 
     Illinois, General Obligation Bonds, Series 2000, 5.500%, 12/01/18 (Pre-refunded 12/01/11) –             
     MBIA Insured             
2,270    Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion    6/12 at 101.00    AAA    2,349,791 
     Project, Series 2002A, 5.000%, 12/15/28 – MBIA Insured             

139,265    Total Illinois            118,678,921 

    Indiana – 2.4% (1.6% of Total Investments)             
2,000    Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Deaconess Hospital Inc.,    3/14 at 100.00    AAA    2,118,800 
     Series 2004A, 5.375%, 3/01/34 – AMBAC Insured             
3,240    Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Marion General Hospital,    7/12 at 100.00    AAA    3,516,178 
     Series 2002, 5.625%, 7/01/19 – AMBAC Insured             
2,400    Indiana Health Facility Financing Authority, Revenue Bonds, Community Hospitals of Indiana,    5/15 at 100.00    AAA    2,476,968 
     Series 2005A, 5.000%, 5/01/35 – AMBAC Insured             
5,125    Petersburg, Indiana, Pollution Control Revenue Refunding Bonds, Indianapolis Power and Light    12/24 at 100.00    A    5,188,038 
     Company, Series 1995A, 6.625%, 12/01/24 – ACA Insured             
6,455    St. Joseph County Hospital Authority, Indiana, Revenue Bonds, Memorial Health System, Series    2/08 at 101.00    AAA    6,432,472 
     1998A, 4.625%, 8/15/28 – MBIA Insured             

19,220    Total Indiana            19,732,456 

    Iowa – 1.9% (1.3% of Total Investments)             
8,585    Iowa Finance Authority, Hospital Facilities Revenue Bonds, Iowa Health System, Series 1998A,    7/08 at 102.00    AAA    9,080,698 
     5.125%, 1/01/28 (Pre-refunded 7/01/08) – MBIA Insured             
7,000    Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C,    6/15 at 100.00    BBB    6,987,190 
     5.625%, 6/01/46             

15,585    Total Iowa            16,067,888 

    Kansas – 1.1% (0.7% of Total Investments)             
4,585    Johnson County Unified School District 232, Kansas, General Obligation Bonds, Series 2000,    9/10 at 100.00    Aaa    4,743,091 
     4.750%, 9/01/19 – FSA Insured             
2,500    Kansas Development Finance Authority, Water Pollution Control Revolving Fund Leveraged Bonds,    11/12 at 100.00    AAA    2,741,900 
     Series 2002-II, 5.500%, 11/01/21             
1,750    Wamego, Kansas, Pollution Control Revenue Bonds, Kansas Gas and Electric Company, Series 2004,    6/14 at 100.00    AAA    1,865,185 
     5.300%, 6/01/31 – MBIA Insured             

8,835    Total Kansas            9,350,176 

    Kentucky – 0.2% (0.1% of Total Investments)             
2,500    Kentucky State Property and Buildings Commission, Revenue Refunding Bonds, Project 74, Series    2/12 at 100.00    AAA    2,738,250 
     2002, 5.375%, 2/01/18 (Pre-refunded 2/01/12) – FSA Insured             

    Louisiana – 2.1% (1.4% of Total Investments)             
10,000    Louisiana Public Facilities Authority, Hospital Revenue Bonds, Franciscan Missionaries of Our    No Opt. Call    AAA    11,685,100 
     Lady Health System, Series 1998A, 5.750%, 7/01/25 – FSA Insured             
5,500    Louisiana Public Facilities Authority, Revenue Bonds, Tulane University, Series 2002A, 5.000%,    7/12 at 100.00    AAA    5,610,110 
     7/01/32 – AMBAC Insured             

15,500    Total Louisiana            17,295,210 

    Massachusetts – 8.6% (5.6% of Total Investments)             
4,365    Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Berkshire Health    10/15 at 100.00    AAA    4,604,333 
     System, Series 2005F, 5.000%, 10/01/19 – AGC Insured             
7,405    Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Massachusetts    No Opt. Call    AAA    8,753,747 
     Institute of Technology, Series 2002K, 5.500%, 7/01/32             
6,000    Massachusetts Industrial Finance Agency, Resource Recovery Revenue Refunding Bonds, Ogden    12/08 at 102.00    BBB    6,134,100 
     Haverhill Project, Series 1998A, 5.600%, 12/01/19 (Alternative Minimum Tax)             
13,500    Massachusetts Turnpike Authority, Metropolitan Highway System Revenue Bonds, Senior Series    1/07 at 102.00    AAA    13,706,010 
     1997A, 5.000%, 1/01/37 – MBIA Insured             
13,500    Massachusetts Turnpike Authority, Metropolitan Highway System Revenue Bonds, Subordinate    1/09 at 101.00    AAA    13,658,220 
     Series 1999A, 5.000%, 1/01/39 – AMBAC Insured             
5,570    Massachusetts Water Pollution Abatement Trust, Revenue Bonds, MWRA Loan Program, Subordinate    8/09 at 101.00    AAA    5,993,097 
     Series 1999A, 5.750%, 8/01/29             
1,375    Massachusetts Water Pollution Abatement Trust, Revenue Bonds, MWRA Loan Program, Subordinate    8/09 at 101.00    AAA    1,486,609 
     Series 1999A, 5.750%, 8/01/29 (Pre-refunded 8/01/09)             
10,000    Massachusetts Water Resources Authority, General Revenue Bonds, Series 2000A, 5.750%, 8/01/39    8/10 at 101.00    AAA    10,980,700 
     (Pre-refunded 8/01/10) – FGIC Insured             
5,730    University of Massachusetts Building Authority, Senior Lien Project Revenue Bonds, Series    11/10 at 100.00    AAA    6,163,704 
     2000-2, 5.250%, 11/01/20 (Pre-refunded 11/01/10) – AMBAC Insured             

67,445    Total Massachusetts            71,480,520 

    Michigan – 2.1% (1.3% of Total Investments)             
5,000    Detroit, Michigan, Second Lien Sewerage Disposal System Revenue Bonds, Series 2005A, 5.000%,    7/15 at 100.00    AAA    5,184,150 
     7/01/35 – MBIA Insured             
3,790    Michigan Municipal Bond Authority, General Obligation Bonds, Detroit City School District,    6/15 at 100.00    AAA    4,002,430 
     Series 2005, 5.000%, 6/01/20 – FSA Insured             
7,425    Michigan State Hospital Finance Authority, Hospital Revenue Bonds, Henry Ford Health System,    11/09 at 101.00    A1    7,901,834 
     Series 1999A, 6.000%, 11/15/24             

16,215    Total Michigan            17,088,414 

    Minnesota – 1.6% (1.1% of Total Investments)             
    Chaska, Minnesota, Electric Revenue Bonds, Generating Facility Project, Series 2000A:             
1,930     6.000%, 10/01/20 (Pre-refunded 10/01/10)    10/10 at 100.00    A3 (4)    2,135,526 
2,685     6.000%, 10/01/25 (Pre-refunded 10/01/10)    10/10 at 100.00    A3 (4)    2,970,926 
3,655    Dakota and Washington Counties Housing and Redevelopment Authority, Minnesota, GNMA    No Opt. Call    AAA    5,241,782 
     Mortgage-Backed Securities Program Single Family Residential Mortgage Revenue Bonds, Series             
     1988, 8.450%, 9/01/19 (ETM) (Alternative Minimum Tax)             
3,000    Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds,    1/08 at 101.00    AAA    3,053,730 
     Series 1998A, 5.000%, 1/01/30 – AMBAC Insured             

11,270    Total Minnesota            13,401,964 

    Mississippi – 0.5% (0.4% of Total Investments)             
1,875    Mississippi Hospital Equipment and Facilities Authority, Revenue Bonds, Baptist Memorial    9/14 at 100.00    N/R    1,896,187 
     Healthcare, Series 2004B-1, 5.000%, 9/01/24             
2,500    Mississippi Hospital Equipment and Facilities Authority, Revenue Bonds, Forrest County General    1/11 at 101.00    Aaa    2,638,200 
     Hospital, Series 2000, 5.500%, 1/01/27 – FSA Insured             

4,375    Total Mississippi            4,534,387 

    Missouri – 1.5% (1.0% of Total Investments)             
15,000    Kansas City Municipal Assistance Corporation, Missouri, Leasehold Revenue Bonds, Series    No Opt. Call    AAA    5,311,950 
     2004B-1, 0.000%, 4/15/28 – AMBAC Insured             
2,400    Missouri-Illinois Metropolitan District Bi-State Development Agency, Mass Transit Sales Tax    10/13 at 100.00    AAA    2,530,248 
     Appropriation Bonds, Metrolink Cross County Extension Project, Series 2002B, 5.000%, 10/01/23 –             
     FSA Insured             
15,350    Springfield Public Building Corporation, Missouri, Lease Revenue Bonds, Jordan Valley Park    No Opt. Call    AAA    4,474,218 
     Projects, Series 2000A, 0.000%, 6/01/30 – AMBAC Insured             

32,750    Total Missouri            12,316,416 

    Nebraska – 0.2% (0.1% of Total Investments)             
940    Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 1995A,    3/06 at 100.75    AAA    942,012 
     6.800%, 3/01/35 (Alternative Minimum Tax)             
1,195    Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 1995B,    3/06 at 100.75    AAA    1,197,509 
     6.450%, 3/01/35 (Alternative Minimum Tax)             

2,135    Total Nebraska            2,139,521 

    Nevada – 7.4% (4.8% of Total Investments)             
    Clark County School District, Nevada, General Obligation Bonds, Series 2002C:             
34,470     5.000%, 6/15/20 – MBIA Insured    6/12 at 100.00    AAA    36,439,959 
12,150     5.000%, 6/15/21 – MBIA Insured    6/12 at 100.00    AAA    12,832,587 
10,380     5.000%, 6/15/22 – MBIA Insured    6/12 at 100.00    AAA    10,938,652 
1,275    Nevada, General Obligation Refunding Bonds, Municipal Bond Bank Projects 65 and R-6, Series    5/08 at 100.00    AAA    1,312,676 
     1998, 5.000%, 5/15/22 – MBIA Insured             

58,275    Total Nevada            61,523,874 

    New Jersey – 4.2% (2.8% of Total Investments)             
1,090    Camden County Pollution Control Financing Authority, New Jersey, Solid Waste Disposal and    6/06 at 100.00    Baa3    1,094,491 
     Resource Recovery System Revenue Bonds, Series 1991D, 7.250%, 12/01/10             
1,000    New Jersey Building Authority, State Building Revenue Bonds, Series 2002A, 5.000%, 12/15/21    12/12 at 100.00    AAA    1,082,750 
     (Pre-refunded 12/15/12) – FSA Insured             
2,150    New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Trinitas Hospital    7/10 at 101.00    BBB–    2,393,617 
     Obligated Group, Series 2000, 7.500%, 7/01/30             
2,025    New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2001B,    12/11 at 100.00    AAA    2,285,233 
     6.000%, 12/15/19 (Pre-refunded 12/15/11) – MBIA Insured             
3,200    New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2003C,    6/13 at 100.00    AAA    3,572,704 
     5.500%, 6/15/22 (Pre-refunded 6/15/13)             
2,695    Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds,    6/12 at 100.00    BBB    2,790,807 
     Series 2002, 5.750%, 6/01/32             
19,485    Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds,    6/13 at 100.00    BBB    21,891,982 
     Series 2003, 6.750%, 6/01/39             

31,645    Total New Jersey            35,111,584 

    New Mexico – 0.8% (0.5% of Total Investments)             
5,925    New Mexico Hospital Equipment Loan Council, Hospital Revenue Bonds, Presbyterian Healthcare    8/11 at 101.00    AA– (4)    6,502,273 
     Services, Series 2001A, 5.500%, 8/01/21 (Pre-refunded 8/01/11)             

    New York – 19.3% (12.6% of Total Investments)             
60    Dormitory Authority of the State of New York, Improvement Revenue Bonds, Mental Health    2/07 at 102.00    AA–    62,450 
     Services Facilities, Series 1997A, 5.750%, 2/15/27             
    Dormitory Authority of the State of New York, Improvement Revenue Bonds, Mental Health             
    Services Facilities, Series 1997A:             
115     5.750%, 2/15/27 (Pre-refunded 2/15/07)    2/07 at 102.00    AA– (4)    120,136 
4,825     5.750%, 2/15/27 (Pre-refunded 2/15/07)    2/07 at 102.00    AA– (4)    5,040,484 
165    Dormitory Authority of the State of New York, Improvement Revenue Bonds, Mental Health    2/10 at 100.00    AAA    179,152 
     Services Facilities, Series 2000B, 6.000%, 2/15/30 – MBIA Insured             
    Dormitory Authority of the State of New York, Improvement Revenue Bonds, Mental Health             
    Services Facilities, Series 2000B:             
1,005     6.000%, 2/15/30 (Pre-refunded 2/15/10) – MBIA Insured    2/10 at 100.00    AAA    1,103,420 
8,830     6.000%, 2/15/30 (Pre-refunded 2/15/10) – MBIA Insured    2/10 at 100.00    AAA    9,694,722 
275    Dormitory Authority of the State of New York, Insured Revenue Bonds, Fordham University,    7/08 at 101.00    AAA    284,988 
     Series 1998, 5.000%, 7/01/28 – MBIA Insured             
2,225    Dormitory Authority of the State of New York, Insured Revenue Bonds, Fordham University,    7/08 at 101.00    AAA    2,331,333 
     Series 1998, 5.000%, 7/01/28 (Pre-refunded 7/01/08) – MBIA Insured             
2,250    Dormitory Authority of the State of New York, Insured Revenue Bonds, Mount Sinai School of    No Opt. Call    AAA    2,477,903 
     Medicine, Series 1994A, 5.150%, 7/01/24 – MBIA Insured             
1,900    Dormitory Authority of the State of New York, Revenue Bonds, Mount Sinai NYU Health Obligated    7/10 at 101.00    Ba1    2,018,731 
     Group, Series 2000A, 6.500%, 7/01/25             
20,000    Erie County Tobacco Asset Securitization Corporation, New York, Senior Tobacco Settlement    7/10 at 101.00    AAA    22,340,598 
     Asset-Backed Bonds, Series 2000, 6.125%, 7/15/30 (Pre-refunded 7/15/10)             
1,130    Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2001A,    9/11 at 100.00    A–    1,207,891 
     5.375%, 9/01/25             
15,000    Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Series 2000A,    4/10 at 100.00    AAA    16,511,700 
     6.000%, 4/01/30 (Pre-refunded 4/01/10) – FGIC Insured             
12,500    Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds,    7/09 at 101.00    BBB–    13,160,125 
     Series 1999A, 6.400%, 7/15/33             
    New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal             
    Series 2000B:             
8,035     5.750%, 11/15/19 (Pre-refunded 5/15/10)    5/10 at 101.00    AAA    8,860,195 
2,065     5.750%, 11/15/19 (Pre-refunded 5/15/10)    5/10 at 101.00    AAA    2,277,076 
380    New York City, New York, General Obligation Bonds, Fiscal Series 1997H, 6.125%, 8/01/25    8/07 at 101.00    A+    397,575 
5,620    New York City, New York, General Obligation Bonds, Fiscal Series 1997H, 6.125%, 8/01/25    8/07 at 101.00    A+ (4)    5,907,126 
     (Pre-refunded 8/01/07)             
7,600    New York City, New York, General Obligation Bonds, Fiscal Series 1997M, 5.500%, 6/01/17 –    6/07 at 101.00    AAA    7,881,352 
     AMBAC Insured             
7,200    New York City, New York, General Obligation Bonds, Fiscal Series 1997M, 5.500%, 6/01/17    6/07 at 101.00    AAA    7,478,568 
     (Pre-refunded 6/01/07) – AMBAC Insured             
    New York City, New York, General Obligation Bonds, Fiscal Series 2002G:             
950     5.000%, 8/01/17    8/12 at 100.00    A+    993,662 
10,545     5.750%, 8/01/18    8/12 at 100.00    A+    11,633,349 
5,000    New York City, New York, General Obligation Bonds, Fiscal Series 2003A, 5.750%, 8/01/16    8/12 at 100.00    A+    5,511,500 
    New York State Environmental Facilities Corporation, State Clean Water and Drinking Water             
    Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects,             
    Second Resolution Bonds, Series 2001C:             
6,035     5.000%, 6/15/20    6/11 at 100.00    AAA    6,430,474 
6,575     5.000%, 6/15/22    6/11 at 100.00    AAA    6,958,783 
2,855    Penfield-Crown Oak Housing Development Corporation, New York, FHA-Insured Section 8 Assisted    2/06 at 100.00    AAA    2,896,083 
     Multifamily Mortgage Revenue Refunding Bonds, Crown Oak Estates, Series 1991A, 7.350%, 8/01/23             
13,620    Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred    11/12 at 101.00    AAA    14,473,974 
     Twenty-Eighth Series 2002, 5.000%, 11/01/20 – FSA Insured             
2,250    United Nations Development Corporation, New York, Senior Lien Revenue Bonds, Series 2004A,    1/08 at 100.00    A3    2,317,050 
     5.250%, 7/01/21             

149,010    Total New York            160,550,400 

    North Carolina – 2.6% (1.7% of Total Investments)             
13,070    North Carolina Medical Care Commission, Hospital Revenue Bonds, Pitt County Memorial Hospital,    12/08 at 101.00    AAA    13,175,867 
     Series 1998A, 4.750%, 12/01/28 – MBIA Insured             
7,500    North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 2003A, 5.250%,    1/13 at 100.00    AAA    8,091,900 
     1/01/19 – MBIA Insured             

20,570    Total North Carolina            21,267,767 

    Ohio – 2.2% (1.5% of Total Investments)             
    Cincinnati City School District, Hamilton County, Ohio, General Obligation Bonds, Series 2002:             
2,165     5.250%, 6/01/19 – FSA Insured    12/12 at 100.00    AAA    2,344,803 
2,600     5.250%, 6/01/21 – FSA Insured    12/12 at 100.00    AAA    2,805,712 
2,000     5.000%, 12/01/22 – FSA Insured    12/12 at 100.00    AAA    2,109,760 
11,150    Ohio Water Development Authority, Solid Waste Disposal Revenue Bonds, Bay Shore Power, Series    9/08 at 102.00    N/R    11,261,500 
     1998A, 5.875%, 9/01/20 (Alternative Minimum Tax)             

17,915    Total Ohio            18,521,775 

    Oklahoma – 6.6% (4.3% of Total Investments)             
17,510    Pottawatomie County Home Finance Authority, Oklahoma, Single Family Mortgage Revenue Bonds,    No Opt. Call    AAA    21,040,016 
     Series 1991A, 8.625%, 7/01/10 (ETM)             
11,750    Tulsa Municipal Airport Trust, Oklahoma, Revenue Refunding Bonds, American Airlines Inc.,    6/09 at 100.00    B–    11,551,425 
     Series 2000B, 6.000%, 6/01/35 (Mandatory put 12/01/08) (Alternative Minimum Tax)             
23,005    Tulsa Municipal Airport Trust, Oklahoma, Revenue Refunding Bonds, American Airlines Inc.,    12/08 at 100.00    B–    22,411,699 
     Series 2001B, 5.650%, 12/01/35 (Mandatory put 12/01/08) (Alternative Minimum Tax)             

52,265    Total Oklahoma            55,003,140 

    Oregon – 0.4% (0.2% of Total Investments)             
3,000    Deschutes County School District 1, Bend-La Pine, Oregon, General Obligation Bonds, Series    6/11 at 100.00    Aaa    3,286,320 
     2001A, 5.500%, 6/15/18 (Pre-refunded 6/15/11) – FSA Insured             

    Pennsylvania – 3.9% (2.5% of Total Investments)             
5,505    Carbon County Industrial Development Authority, Pennsylvania, Resource Recovery Revenue    No Opt. Call    BBB–    5,900,754 
     Refunding Bonds, Panther Creek Partners Project, Series 2000, 6.650%, 5/01/10 (Alternative             
     Minimum Tax)             
2,375    Falls Township Hospital Authority, Pennsylvania, FHA-Insured Revenue Refunding Bonds, Delaware    2/06 at 100.00    AAA    2,387,136 
     Valley Medical Center, Series 1992, 7.000%, 8/01/22             
2,600    Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2004A, 5.500%, 12/01/31 –    12/14 at 100.00    AAA    2,858,206 
     AMBAC Insured             
7,800    Philadelphia Gas Works, Pennsylvania, Revenue Bonds, General Ordinance, Fourth Series 1998,    8/13 at 100.00    AAA    8,048,430 
     5.000%, 8/01/32 – FSA Insured             
    Philadelphia School District, Pennsylvania, General Obligation Bonds, Series 2002B:             
6,000     5.625%, 8/01/19 (Pre-refunded 8/01/12) – FGIC Insured    8/12 at 100.00    AAA    6,714,060 
5,500     5.625%, 8/01/20 (Pre-refunded 8/01/12) – FGIC Insured    8/12 at 100.00    AAA    6,154,555 
29,780    Total Pennsylvania            32,063,141 

    Puerto Rico – 1.5% (1.0% of Total Investments)             
5,000    Puerto Rico Municipal Finance Agency, Series 2002A, 5.000%, 8/01/27 – FSA Insured    8/12 at 100.00    AAA    5,209,600 
1,500    Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Refunding    7/12 at 100.00    BBB    1,562,715 
     Bonds, Series 2002D, 5.125%, 7/01/20             
1,500    Puerto Rico, General Obligation and Public Improvement Bonds, Series 2001A, 5.500%, 7/01/29    No Opt. Call    BBB    1,702,740 
4,035    Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds,    5/12 at 100.00    BBB    4,110,011 
     Series 2002, 5.375%, 5/15/33             

12,035    Total Puerto Rico            12,585,066 

    South Carolina – 9.0% (5.9% of Total Investments)             
24,725    Greenville County School District, South Carolina, Installment Purchase Revenue Bonds, Series    12/12 at 101.00    AA–    26,679,509 
     2002, 5.500%, 12/01/22             
    Horry County School District, South Carolina, General Obligation Bonds, Series 2001A:             
5,840     5.000%, 3/01/20    3/12 at 100.00    Aa1    6,187,655 
5,140     5.000%, 3/01/21    3/12 at 100.00    Aa1    5,424,602 
    Medical University Hospital Authority, South Carolina, FHA-Insured Mortgage Revenue Bonds,             
    Series 2004A:             
5,240     5.250%, 8/15/20 – MBIA Insured    8/14 at 100.00    AAA    5,642,956 
3,000     5.250%, 2/15/24 – MBIA Insured    8/14 at 100.00    AAA    3,199,620 
13,615    South Carolina Transportation Infrastructure Bank, Junior Lien Revenue Bonds, Series 2001B,    10/11 at 100.00    Aaa    14,483,365 
     5.125%, 10/01/21 – AMBAC Insured             
12,305    Tobacco Settlement Revenue Management Authority, South Carolina, Tobacco Settlement    5/11 at 101.00    BBB    13,175,210 
     Asset-Backed Bonds, Series 2001B, 6.375%, 5/15/28             

69,865    Total South Carolina            74,792,917 

    Tennessee – 1.7% (1.1% of Total Investments)             
3,000    Knox County Health, Educational and Housing Facilities Board, Tennessee, Hospital Revenue    4/12 at 101.00    Baa3    3,185,970 
     Bonds, Baptist Health System of East Tennessee Inc., Series 2002, 6.375%, 4/15/22             
7,415    Memphis, Tennessee, General Improvement Bonds, Series 2002, 5.000%, 11/01/20    11/10 at 101.00    Aa3    7,835,801 
3,205    Tennessee Housing Development Agency, Homeownership Program Bonds, Series 2000-2B, 6.350%,    7/10 at 100.00    AA    3,236,633 
     1/01/31 (Alternative Minimum Tax)             

13,620    Total Tennessee            14,258,404 

    Texas – 18.1% (11.9% of Total Investments)             
1,000    Alamo Community College District, Bexar County, Texas, Combined Fee Revenue Refunding Bonds,    11/11 at 100.00    AAA    1,085,820 
     Series 2001, 5.375%, 11/01/16 – FSA Insured             
6,500    Bell County Health Facilities Development Corporation, Texas, Retirement Facility Revenue    11/08 at 101.00    A–    6,653,335 
     Bonds, Buckner Retirement Services Inc. Obligated Group, Series 1998, 5.250%, 11/15/19             
11,255    Brazos River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric    5/36 at 100.00    Baa2    11,919,045 
     Company, Series 2001C, 5.750%, 5/01/36 (Mandatory put 11/01/11) (Alternative Minimum Tax)             
5,500    Central Texas Regional Mobility Authority, Travis and Williamson Counties, Toll Road Revenue    1/15 at 100.00    AAA    5,608,790 
     Bonds, Series 2005, 5.000%, 1/01/45 – FGIC Insured             
5,000    Dallas-Ft. Worth International Airport, Texas, Joint Revenue Refunding and Improvement Bonds,    11/11 at 100.00    AAA    5,361,600 
     Series 2001A, 5.625%, 11/01/21 – FGIC Insured (Alternative Minimum Tax)             
8,235    Grand Prairie Housing Finance Corporation, Texas, GNMA Multifamily Housing Revenue Bonds,    9/10 at 105.00    AAA    9,013,372 
     Landings of Carrier Project, Series 2000A, 6.875%, 9/20/42             
2,500    Harris County Health Facilities Development Corporation, Texas, Thermal Utility Revenue Bonds,    11/13 at 100.00    AAA    2,563,025 
     TECO Project, Series 2003, 5.000%, 11/15/30 – MBIA Insured             
2,700    Harris County-Houston Sports Authority, Texas, Senior Lien Revenue Bonds, Series 2001G,    11/11 at 100.00    AAA    2,810,376 
     5.250%, 11/15/30 – MBIA Insured             
22,500    Houston, Texas, Junior Lien Water and Sewerage System Revenue Refunding Bonds, Series 2000B,    12/10 at 100.00    AAA    24,127,198 
     5.250%, 12/01/30 (Pre-refunded 12/01/10) – FGIC Insured             
    Lubbock Health Facilities Development Corporation, Texas, Revenue Bonds, St. Joseph Health             
    System, Series 1998:             
4,900     5.250%, 7/01/15    7/08 at 101.00    AA–    5,101,978 
8,495     5.250%, 7/01/16    7/08 at 101.00    AA–    8,823,162 
17,655    Matagorda County Navigation District 1, Texas, Revenue Refunding Bonds, Houston Industries    11/08 at 102.00    AAA    18,436,587 
     Inc., Series 1998B, 5.150%, 11/01/29 – MBIA Insured             
7,650    Port of Corpus Christi Authority, Nueces County, Texas, Revenue Refunding Bonds, Union Pacific    5/06 at 101.00    BBB    7,748,915 
     Corporation, Series 1992, 5.350%, 11/01/10             
2,095    Port of Houston Authority, Harris County, Texas, General Obligation Port Improvement Revenue    10/10 at 100.00    AA+ (4)    2,295,743 
     Bonds, Series 2000A, 5.750%, 10/01/20 (Pre-refunded 10/01/10)             
2,000    Sam Rayburn Municipal Power Agency, Texas, Power Supply System Revenue Refunding Bonds, Series    10/12 at 100.00    AA    2,184,580 
     2002A, 5.750%, 10/01/21 – RAAI Insured             
14,680    San Antonio Independent School District, Bexar County, Texas, General Obligation Bonds, Series    8/09 at 100.00    AAA    15,837,518 
     1999, 5.800%, 8/15/29 (Pre-refunded 8/15/09)             
11,300    San Antonio, Texas, Electric and Gas System Revenue Refunding Bonds, New Series 1992, 5.000%,    2/17 at 100.00    AAA    12,162,077 
     2/01/17 (ETM)             
3,750    Spring Branch Independent School District, Harris County, Texas, Limited Tax Schoolhouse and    2/11 at 100.00    AAA    3,961,575 
     Refunding Bonds, Series 2001, 5.125%, 2/01/23             
5,000    Wichita Falls, Wichita County, Texas, Priority Lien Water and Sewerage System Revenue Bonds,    8/11 at 100.00    AAA    5,246,450 
     Series 2001, 5.000%, 8/01/22 – AMBAC Insured             

142,715    Total Texas            150,941,146 

    Utah – 1.6% (1.1% of Total Investments)             
5,800    Carbon County, Utah, Solid Waste Disposal Revenue Refunding Bonds, Laidlaw/ECDC Project,    2/06 at 101.00    BB–    5,902,312 
     Guaranteed by Allied Waste Industries, Series 1995, 7.500%, 2/01/10 (Alternative Minimum Tax)             
7,155    Utah Associated Municipal Power Systems, Revenue Bonds, Payson Power Project, Series 2003A,    4/13 at 100.00    AAA    7,525,557 
     5.000%, 4/01/25 – FSA Insured             

12,955    Total Utah            13,427,869 

    Virginia – 2.1% (1.4% of Total Investments)             
4,000    Norfolk Airport Authority, Virginia, Airport Revenue Refunding Bonds, Series 2001B, 5.125%,    7/11 at 100.00    AAA    4,083,000 
     7/01/31 – FGIC Insured (Alternative Minimum Tax)             
11,040    Suffolk Redevelopment and Housing Authority, Virginia, FNMA Multifamily Housing Revenue    7/31 at 100.00    Aaa    11,577,538 
     Refunding Bonds, Windsor at Potomac Vista L.P. Project, Series 2001, 4.850%, 7/01/31             
     (Mandatory put 7/01/11)             
665    Virginia Housing Development Authority, Rental Housing Bonds, Series 1999F, 5.000%, 5/01/15    5/09 at 101.00    AA+    683,746 
     (Alternative Minimum Tax)             
    Virginia Resources Authority, Water System Revenue Refunding Bonds, Series 2002:             
500     5.000%, 4/01/18    4/12 at 102.00    AA    534,270 
500     5.000%, 4/01/19    4/12 at 102.00    AA    533,135 

16,705    Total Virginia            17,411,689 

    Washington – 10.9% (7.1% of Total Investments)             
4,185    Douglas County Public Utility District 1, Washington, Revenue Bonds, Wells Hydroelectric,    9/06 at 106.00    AA    4,558,846 
     Series 1986, 8.750%, 9/01/18             
6,750    Energy Northwest, Washington, Electric Revenue Refunding Bonds, Columbia Generating Station –    7/12 at 100.00    AAA    7,274,070 
     Nuclear Project 2, Series 2002B, 5.350%, 7/01/18 – FSA Insured             
2,500    Energy Northwest, Washington, Electric Revenue Refunding Bonds, Columbia Generating Station –    7/12 at 100.00    AAA    2,774,450 
     Nuclear Project 2, Series 2002C, 5.750%, 7/01/17 – MBIA Insured             
6,950    Port of Seattle, Washington, Revenue Bonds, Series 2000B, 5.625%, 2/01/24 – MBIA Insured    8/10 at 100.00    AAA    7,371,240 
     (Alternative Minimum Tax)             
13,400    Seattle, Washington, Municipal Light and Power Revenue Bonds, Series 2000, 5.400%, 12/01/25    12/10 at 100.00    Aa3    14,035,696 
9,440    Tacoma, Washington, Electric System Revenue Refunding Bonds, Series 2001A, 5.750%, 1/01/18    1/11 at 101.00    AAA    10,459,803 
     (Pre-refunded 1/01/11) – FSA Insured             
5,500    Washington State Healthcare Facilities Authority, Revenue Bonds, Swedish Health Services,    11/08 at 101.00    Aaa    5,827,415 
     Series 1998, 5.500%, 11/15/14 – AMBAC Insured             
3,430    Washington State Tobacco Settlement Authority, Tobacco Settlement Asset-Backed Revenue Bonds,    6/13 at 100.00    BBB    3,745,629 
     Series 2002, 6.500%, 6/01/26             
18,145    Washington, General Obligation Bonds, Series 2001-02A, 5.000%, 7/01/23 – FSA Insured    7/11 at 100.00    AAA    19,048,258 
    Washington, Motor Vehicle Fuel Tax General Obligation Bonds, Series 2002C:             
7,000     5.000%, 1/01/21 – FSA Insured    1/12 at 100.00    AAA    7,361,200 
7,960     5.000%, 1/01/22 – FSA Insured    1/12 at 100.00    AAA    8,352,348 

85,260    Total Washington            90,808,955 

    Wisconsin – 1.4% (0.9% of Total Investments)             
195    Badger Tobacco Asset Securitization Corporation, Wisconsin, Tobacco Settlement Asset-Backed    6/12 at 100.00    BBB    206,714 
     Bonds, Series 2002, 6.125%, 6/01/27             
7,545    La Crosse, Wisconsin, Pollution Control Revenue Refunding Bonds, Dairyland Power Cooperative,    12/08 at 102.00    AAA    8,057,155 
     Series 1997A, 5.450%, 9/01/14 – AMBAC Insured             
3,000    Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Fort Healthcare Inc.,    5/14 at 100.00    BBB+    3,172,140 
     Series 2004, 5.750%, 5/01/29             
535    Wisconsin Housing and Economic Development Authority, Housing Revenue Bonds, Series 1992A,    7/06 at 100.00    AA    535,872 
     6.850%, 11/01/12             

11,275    Total Wisconsin            11,971,881 

$      1,251,900    Total Investments (cost $1,185,515,164) – 152.8%            1,271,960,957 


    Other Assets Less Liabilities – 1.5%            12,331,047 

    Preferred Shares, at Liquidation Value – (54.3)%            (452,000,000) 

    Net Assets Applicable to Common Shares – 100%           $    832,292,004 



(1)    All percentages shown in the Portfolio of Investments are based on net assets applicable to Common 
    shares unless otherwise noted. 
(2)    Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. 
    There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities 
    may be subject to periodic principal paydowns. 
(3)    Ratings: Using the higher of Standard & Poor’s or Moody’s rating. Ratings below Baa by 
    Moody’s Investor Service, Inc. or BBB by Standard & Poor's Group are considered to be below 
    investment grade. 
(4)    Securities are backed by an escrow or trust containing sufficient U.S. Government or U.S. Government 
    agency securities which ensures the timely payment of principal and interest. Such securities are normally 
    considered to be equivalent to AAA rated securities. 
N/R    Investment is not rated. 
(ETM)    Security is escrowed to maturity. 

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount and timing differences in recognizing certain gains and losses on investment transactions. At January 31, 2006, the cost of investments was $1,185,280,957.

Gross unrealized appreciation and gross unrealized depreciation of investments at January 31, 2006, were as follows:


Gross unrealized:   
  Appreciation  $88,049,295 
  Depreciation  (1,369,295) 

Net unrealized appreciation (depreciation) of investments  $86,680,000 



Item 2. Controls and Procedures.

  1. The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
  2. There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: EX-99 CERT Attached hereto.


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.

(Registrant)         Nuveen Quality Income Municipal Fund, Inc.        

By (Signature and Title)*          /s/ Jessica R. Droeger                     
                                                    Jessica R. Droeger
                                                    Vice President and Secretary

Date         March 31, 2006        

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 (Signature and Title)*         /s/ Gifford R. Zimmerman                    
                                                   Gifford R. Zimmerman
                                                   Chief Administrative Officer (principal executive officer) 

Date         March 31, 2006        

By (Signature and Title)*         /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                   Vice President and Controller (principal financial officer) 

Date        March 31, 2006        

* Print the name and title of each signing officer under his or her signature.