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)

Nuveen Investments
        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:         1/31/07         

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, 2007             
Principal        Optional Call         
Amount (000)    Description (1)    Provisions (2)    Ratings (3)    Value 
    Alabama – 3.1% (2.0% of Total Investments)             
$          3,500    Bessemer Governmental Utility Services Corporation, Alabama, Water Supply Revenue Bonds,    6/08 at 102.00    AAA   $   3,621,870 
     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    8,002,436 
6,340     5.500%, 2/01/31 (Pre-refunded 2/01/11) – FGIC Insured    2/11 at 101.00    AAA    6,787,350 
6,970     5.500%, 2/01/31 (Pre-refunded 2/01/11) – FGIC Insured    2/11 at 101.00    AAA    7,461,803 
24,285    Total Alabama            25,873,459 
    Alaska – 1.0% (0.6% of Total Investments)             
6,110    Alaska Housing Finance Corporation, General Housing Purpose Bonds, Series 2005A, 5.000%,    12/14 at 100.00    AAA    6,377,068 
     12/01/27 – FGIC Insured             
1,500    Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds,    6/14 at 100.00    Baa3    1,507,665 
     Series 2006A, 5.000%, 6/01/46             
7,610    Total Alaska            7,884,733 
    Arizona – 1.8% (1.1% of Total Investments)             
5,350    Arizona Tourism and Sports Authority, Tax Revenue Bonds, Multipurpose Stadium Facility    7/13 at 100.00    Aaa    5,574,647 
     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    1,113,270 
     Insured             
8,010    Salt River Project Agricultural Improvement and Power District, Arizona, Electric System    1/12 at 101.00    Aa1    8,398,565 
     Revenue Refunding Bonds, Series 2002A, 5.125%, 1/01/27             
14,360    Total Arizona            15,086,482 
    Arkansas – 0.9% (0.6% of Total Investments)             
    Arkansas Development Finance Authority, Tobacco Settlement Revenue Bonds, Arkansas Cancer             
    Research Center Project, Series 2006:             
2,500     0.000%, 7/01/36 – AMBAC Insured    No Opt. Call    Aaa    635,600 
19,800     0.000%, 7/01/46 – AMBAC Insured    No Opt. Call    Aaa    3,019,896 
4,000    University of Arkansas, Fayetteville, Revenue Bonds, Medical Sciences Campus, Series 2004B,    11/14 at 100.00    Aaa    4,194,720 
     5.000%, 11/01/34 – MBIA Insured             
26,300    Total Arkansas            7,850,216 
    California – 10.3% (6.5% of Total Investments)             
1,000    California Department of Water Resources, Power Supply Revenue Bonds, Series 2002A, 5.750%,    5/12 at 101.00    Aaa    1,106,450 
     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    6,124,260 
     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–    3,605,147 
     Institutes, Series 2001, 5.250%, 10/01/34             
25,000    California, General Obligation Bonds, Series 2005, 4.750%, 3/01/35 – MBIA Insured (UB)    3/16 at 100.00    AAA    25,676,750 
1,360    California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity    7/15 at 100.00    BBB+    1,423,961 
     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+    15,502,572 
10,000    California, Various Purpose General Obligation Bonds, Series 1999, 4.750%, 4/01/29 – MBIA    4/09 at 101.00    AAA    10,115,100 
     Insured             
8,500    Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Series    1/10 at 100.00    AAA    8,710,375 
     1995A, 5.000%, 1/01/35 – MBIA Insured             
30,000    San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue    No Opt. Call    AAA    8,599,200 
     Refunding Bonds, Series 1997A, 0.000%, 1/15/35 – MBIA Insured             
1,500    San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment    8/10 at 101.00    AAA    1,583,145 
     Project, Series 2002, 5.000%, 8/01/32 (Pre-refunded 8/01/10) – MBIA Insured             
3,000    San Mateo County Community College District, California, General Obligation Bonds, Series    No Opt. Call    AAA    1,038,300 
     2006C, 0.000%, 9/01/30 – MBIA Insured             
1,500    Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed    6/15 at 100.00    BBB    1,570,785 
     Bonds, Series 2005A-1, 5.500%, 6/01/45             
105,910    Total California            85,056,045 
    Colorado – 5.1% (3.2% of Total Investments)             
10,000    Denver City and County, Colorado, Airport System Revenue Refunding Bonds, Series 2000A,    11/10 at 100.00    AAA    10,502,600 
     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%,    9/07 at 101.00    AAA    12,158,520 
     9/01/23 – MBIA Insured             
5,385    E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B, 0.000%,    No Opt. Call    AAA    2,248,399 
     9/01/26 – 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    8,240,400 
     (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    9,167,386 
     5.125%, 12/15/19 (Pre-refunded 12/15/10) – FGIC Insured             
50,525    Total Colorado            42,317,305 
    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    4,691,399 
     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    5,174,650 
     Revenue Bonds, Series 1998, 5.250%, 10/01/17 (Pre-refunded 10/01/08) – AMBAC Insured             
    Florida – 0.9% (0.6% 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    2,317,635 
     FGIC Insured             
5,000    Orange County Health Facilities Authority, Florida, Hospital Revenue Bonds, Adventist Health    11/10 at 101.00    A+ (4)    5,503,100 
     System/Sunbelt Obligated Group, Series 2000, 6.500%, 11/15/30 (Pre-refunded 11/15/10)             
7,250    Total Florida            7,820,735 
    Hawaii – 1.3% (0.8% of Total Investments)             
10,000    Hawaii Department of Transportation, Airport System Revenue Refunding Bonds, Series 2000B,    7/10 at 101.00    AAA    10,644,000 
     5.750%, 7/01/21 – FGIC Insured             
    Illinois – 15.8% (10.0% of Total Investments)             
    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    1,075,510 
3,690     5.000%, 12/01/19 (Pre-refunded 12/01/11) – FSA Insured    12/11 at 100.00    AAA    3,887,821 
3,000     5.000%, 12/01/20 (Pre-refunded 12/01/11) – FSA Insured    12/11 at 100.00    AAA    3,160,830 
2,000     5.000%, 12/01/21 (Pre-refunded 12/01/11) – FSA Insured    12/11 at 100.00    AAA    2,107,220 
    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    6,851,566 
4,400     0.000%, 12/01/15 – FGIC Insured    No Opt. Call    AAA    3,066,932 
32,670    Chicago, Illinois, General Obligation Bonds, City Colleges, Series 1999, 0.000%, 1/01/32 –    No Opt. Call    AAA    10,805,603 
     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    734,264 
4,320     6.000%, 1/01/28 (Pre-refunded 7/01/10) – FGIC Insured    7/10 at 101.00    AAA    4,664,736 
6,380    Chicago, Illinois, General Obligation Bonds, Series 2002A, 5.000%, 1/01/18 – AMBAC Insured    7/12 at 100.00    AAA    6,695,682 
70    Chicago, Illinois, General Obligation Bonds, Series 2002A, 5.000%, 1/01/18 (Pre-refunded    7/12 at 100.00    AAA    74,163 
     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    5,341,999 
     Insured             
12,850    Chicago, Illinois, Revenue Bonds, Midway Airport, Series 1998A, 5.125%, 1/01/35 – MBIA Insured    1/09 at 101.00    AAA    13,124,990 
     (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    8,508,560 
7,750     6.000%, 1/01/30 (Pre-refunded 1/01/10) – MBIA Insured    1/10 at 101.00    AAA    8,295,678 
    Illinois Educational Facilities Authority, Student Housing Revenue Bonds, Educational             
    Advancement Foundation Fund, University Center Project, Series 2002:             
3,000     6.625%, 5/01/17 (Pre-refunded 5/01/12)    5/12 at 101.00    Aaa    3,425,880 
1,800     6.000%, 5/01/22 (Pre-refunded 5/01/12)    5/12 at 101.00    Aaa    2,003,796 
1,050    Illinois Finance Authority, General Obligation Debt Certificates, Local Government Program –    12/14 at 100.00    Aaa    1,108,748 
     Kankakee County, Series 2005B, 5.000%, 12/01/20 – AMBAC Insured             
15,000    Illinois Finance Authority, Illinois, Northwestern University, Revenue Bonds, Series 2006,    12/15 at 100.00    N/R    15,679,950 
     5.000%, 12/01/42 (UB)             
5,000    Illinois Finance Authority, Revenue Bonds, Northwestern Memorial Hospital, Series 2004A,    8/14 at 100.00    AA+    5,422,950 
     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    10,670,300 
     2/15/30 – AMBAC Insured (ETM)             
2,290    Illinois Housing Development Authority, Section 8 Elderly Housing Revenue Bonds, Garden House    3/07 at 100.00    A    2,292,977 
     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    5,277,000 
     MBIA Insured             
2,975    Joliet Regional Port District, Illinois, Airport Facilities Revenue Bonds, Lewis University    7/07 at 103.00    N/R (4)    3,077,846 
     Airport, Series 1997A, 7.250%, 7/01/18 (Pre-refunded 7/01/07) (Alternative Minimum Tax)             
2,270    Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion    6/12 at 101.00    AAA    2,365,976 
     Project, Series 2002A, 5.000%, 12/15/28 – MBIA Insured             
1,000    Montgomery, Illinois, Lakewood Creek Project Special Assessment Bonds, Series 2007, 4.700%,    3/16 at 100.00    AA    977,230 
     3/01/30 – RAAI Insured             
150,640    Total Illinois            130,698,207 
    Indiana – 1.8% (1.1% of Total Investments)             
2,000    Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Deaconess Hospital Inc.,    3/14 at 100.00    AAA    2,135,680 
     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    3,477,719 
     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    2,502,792 
     Series 2005A, 5.000%, 5/01/35 – AMBAC Insured             
6,540    St. Joseph County Hospital Authority, Indiana, Revenue Bonds, Memorial Health System, Series    2/08 at 101.00    AAA    6,545,363 
     1998A, 4.625%, 8/15/28 – MBIA Insured             
14,180    Total Indiana            14,661,554 
    Iowa – 2.0% (1.2% of Total Investments)             
8,585    Iowa Finance Authority, Hospital Facilities Revenue Bonds, Iowa Health System, Series 1998A,    7/08 at 102.00    AAA    8,919,300 
     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    7,380,030 
     5.625%, 6/01/46             
15,585    Total Iowa            16,299,330 
    Kansas – 0.8% (0.5% of Total Investments)             
4,585    Johnson County Unified School District 232, Kansas, General Obligation Bonds, Series 2000,    9/10 at 100.00    Aaa    4,736,488 
     4.750%, 9/01/19 (Pre-refunded 9/01/10) – FSA Insured             
1,750    Wamego, Kansas, Pollution Control Revenue Bonds, Kansas Gas and Electric Company, Series 2004,    6/14 at 100.00    AAA    1,868,615 
     5.300%, 6/01/31 – MBIA Insured             
6,335    Total Kansas            6,605,103 
    Kentucky – 0.3% (0.2% of Total Investments)             
2,500    Kentucky State Property and Buildings Commission, Revenue Refunding Bonds, Project 74, Series    2/12 at 100.00    AAA    2,680,725 
     2002, 5.375%, 2/01/18 (Pre-refunded 2/01/12) – FSA Insured             
    Louisiana – 2.4% (1.5% of Total Investments)             
10,000    Louisiana Public Facilities Authority, Hospital Revenue Bonds, Franciscan Missionaries of Our    No Opt. Call    AAA    11,656,600 
     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    5,658,620 
     7/01/32 – AMBAC Insured             
2,600    Tobacco Settlement Financing Corporation, Louisiana, Tobacco Settlement Asset-Backed Bonds,    5/11 at 101.00    BBB    2,783,352 
     Series 2001B, 5.875%, 5/15/39             
18,100    Total Louisiana            20,098,572 
    Massachusetts – 8.1% (5.1% of Total Investments)             
7,405    Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Massachusetts    No Opt. Call    AAA    8,945,758 
     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    6,224,340 
     Haverhill Project, Series 1998A, 5.600%, 12/01/19 (Alternative Minimum Tax)             
13,500    Massachusetts Turnpike Authority, Metropolitan Highway System Revenue Bonds, Senior Series    7/07 at 102.00    AAA    13,706,415 
     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    13,770,810 
     Series 1999A, 5.000%, 1/01/39 – AMBAC Insured             
1,375    Massachusetts Water Pollution Abatement Trust, Revenue Bonds, MWRA Loan Program, Subordinate    8/09 at 101.00    AAA    1,453,760 
     Series 1999A, 5.750%, 8/01/29 (Pre-refunded 8/01/09)             
5,570    Massachusetts Water Pollution Abatement Trust, Revenue Bonds, MWRA Loan Program, Subordinate    8/09 at 101.00    AAA    5,863,762 
     Series 1999A, 5.750%, 8/01/29             
10,000    Massachusetts Water Resources Authority, General Revenue Bonds, Series 2000A, 5.750%, 8/01/39    8/10 at 101.00    AAA    10,712,600 
     (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    6,026,699 
     2000-2, 5.250%, 11/01/20 (Pre-refunded 11/01/10) – AMBAC Insured             
63,080    Total Massachusetts            66,704,144 
    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    5,239,400 
     7/01/35 – MBIA Insured             
3,790    Michigan Municipal Bond Authority, General Obligation Bonds, Detroit City School District,    6/15 at 100.00    AAA    4,005,234 
     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 (4)    7,935,023 
     Series 1999A, 6.000%, 11/15/24 (Pre-refunded 11/15/09)             
16,215    Total Michigan            17,179,657 
    Minnesota – 1.6% (1.0% 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)    2,077,008 
2,685     6.000%, 10/01/25 (Pre-refunded 10/01/10)    10/10 at 100.00    A3 (4)    2,889,516 
3,655    Dakota and Washington Counties Housing and Redevelopment Authority, Minnesota, GNMA    No Opt. Call    AAA    5,175,297 
     Mortgage-Backed Securities Program Single Family Residential Mortgage Revenue Bonds, Series             
     1988, 8.450%, 9/01/19 (Alternative Minimum Tax) (ETM)             
3,000    Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds,    1/08 at 101.00    AAA    3,064,980 
     Series 1998A, 5.000%, 1/01/30 (Pre-refunded 1/01/08) – AMBAC Insured             
11,270    Total Minnesota            13,206,801 
    Mississippi – 0.6% (0.3% of Total Investments)             
1,875    Mississippi Hospital Equipment and Facilities Authority, Revenue Bonds, Baptist Memorial    9/14 at 100.00    N/R    1,924,294 
     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    2,633,225 
     Hospital, Series 2000, 5.500%, 1/01/27 – FSA Insured             
4,375    Total Mississippi            4,557,519 
    Missouri – 1.6% (1.0% of Total Investments)             
15,000    Kansas City Municipal Assistance Corporation, Missouri, Leasehold Revenue Bonds, Series    No Opt. Call    AAA    5,825,850 
     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    2,527,608 
     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    5,003,947 
     Projects, Series 2000A, 0.000%, 6/01/30 – AMBAC Insured             
32,750    Total Missouri            13,357,405 
    Nebraska – 0.1% (0.1% of Total Investments)             
190    Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 1995A,    3/07 at 100.00    AAA    192,261 
     6.800%, 3/01/35 (Alternative Minimum Tax)             
500    Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 1995B,    3/07 at 100.00    AAA    505,200 
     6.450%, 3/01/35 (Alternative Minimum Tax)             
690    Total Nebraska            697,461 
    Nevada – 5.9% (3.7% of Total Investments)             
    Clark County School District, Nevada, General Obligation Bonds, Series 2002C:             
34,470     5.000%, 6/15/20 (Pre-refunded 6/15/12) – MBIA Insured    6/12 at 100.00    AAA    36,504,415 
10,380     5.000%, 6/15/22 (Pre-refunded 6/15/12) – MBIA Insured    6/12 at 100.00    AAA    10,992,628 
1,275    Nevada, General Obligation Refunding Bonds, Municipal Bond Bank Projects 65 and R-6, Series    5/08 at 100.00    AAA    1,290,300 
     1998, 5.000%, 5/15/22 – MBIA Insured             
46,125    Total Nevada            48,787,343 
    New Jersey – 6.6% (4.2% of Total Investments)             
1,000    New Jersey Building Authority, State Building Revenue Bonds, Series 2002A, 5.000%, 12/15/21    12/12 at 100.00    AAA    1,065,020 
     (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–    2,372,310 
     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    2,225,597 
     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    3,511,808 
     5.500%, 6/15/22 (Pre-refunded 6/15/13)             
    New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2006C:             
20,000     0.000%, 12/15/33 – FSA Insured    No Opt. Call    AAA    6,064,800 
20,000     0.000%, 12/15/35 – AMBAC Insured    No Opt. Call    AAA    5,518,200 
20,000     0.000%, 12/15/36 – AMBAC Insured    No Opt. Call    AAA    5,277,600 
    Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds,             
    Series 2002:             
2,635     5.750%, 6/01/32 (Pre-refunded 6/01/12)    6/12 at 100.00    BBB (4)    2,811,967 
1,000     6.125%, 6/01/42 (Pre-refunded 6/01/12)    6/12 at 100.00    BBB (4)    1,108,680 
    Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds,             
    Series 2003:             
19,485     6.750%, 6/01/39 (Pre-refunded 6/01/13)    6/13 at 100.00    BBB (4)    22,603,185 
1,850     6.250%, 6/01/43 (Pre-refunded 6/01/13)    6/13 at 100.00    BBB (4)    2,096,772 
93,345    Total New Jersey            54,655,939 
    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)    6,374,056 
     Services, Series 2001A, 5.500%, 8/01/21 (Pre-refunded 8/01/11)             
    New York – 19.5% (12.3% of Total Investments)             
60    Dormitory Authority of the State of New York, Improvement Revenue Bonds, Mental Health    2/07 at 102.00    AA–    61,277 
     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)    117,387 
4,825     5.750%, 2/15/27 (Pre-refunded 2/15/07)    2/07 at 102.00    AA– (4)    4,925,167 
165    Dormitory Authority of the State of New York, Improvement Revenue Bonds, Mental Health    2/10 at 100.00    AAA    174,836 
     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    1,070,998 
8,830     6.000%, 2/15/30 (Pre-refunded 2/15/10) – MBIA Insured    2/10 at 100.00    AAA    9,409,866 
275    Dormitory Authority of the State of New York, Insured Revenue Bonds, Fordham University,    7/08 at 101.00    AAA    281,113 
     Series 1998, 5.000%, 7/01/28 – MBIA Insured             
2,250    Dormitory Authority of the State of New York, Insured Revenue Bonds, Mount Sinai School of    No Opt. Call    AAA    2,478,308 
     Medicine, Series 1994A, 5.150%, 7/01/24 – MBIA Insured             
20,000    Erie County Tobacco Asset Securitization Corporation, New York, Senior Tobacco Settlement    7/10 at 101.00    AAA    21,674,400 
     Asset-Backed Bonds, Series 2000, 6.125%, 7/15/30 (Pre-refunded 7/15/10)             
1,320    Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 4.500%,    2/17 at 100.00    AAA    1,305,229 
     2/15/47 – MBIA Insured             
1,130    Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2001A,    9/11 at 100.00    A– (4)    1,208,840 
     5.375%, 9/01/25 (Pre-refunded 9/01/11)             
15,000    Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Series 2000A,    4/10 at 100.00    AAA    16,023,450 
     6.000%, 4/01/30 (Pre-refunded 4/01/10) – FGIC Insured             
13,600    Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2006B,    11/16 at 100.00    Aaa    13,615,232 
     4.500%, 11/15/32 – FSA Insured (UB)             
12,500    Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds,    7/09 at 101.00    AAA    13,398,875 
     Series 1999A, 6.400%, 7/15/33 (Pre-refunded 7/15/09)             
    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    8,617,859 
2,065     5.750%, 11/15/19 (Pre-refunded 5/15/10)    5/10 at 101.00    AAA    2,214,795 
380    New York City, New York, General Obligation Bonds, Fiscal Series 1997H, 6.125%, 8/01/25    8/07 at 101.00    AA–    387,760 
5,620    New York City, New York, General Obligation Bonds, Fiscal Series 1997H, 6.125%, 8/01/25    8/07 at 101.00    AA– (4)    5,744,258 
     (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    7,717,496 
     AMBAC Insured             
    New York City, New York, General Obligation Bonds, Fiscal Series 2002G:             
950     5.000%, 8/01/17    8/12 at 100.00    AA–    991,487 
6,555     5.750%, 8/01/18    8/12 at 100.00    AA–    7,096,181 
3,990    New York City, New York, General Obligation Bonds, Fiscal Series 2002G, 5.750%, 8/01/18    8/12 at 100.00    A1 (4)    4,392,032 
     (Pre-refunded 8/01/12)             
5,000    New York City, New York, General Obligation Bonds, Fiscal Series 2003A, 5.750%, 8/01/16    8/12 at 100.00    AA–    5,454,950 
    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    6,322,688 
6,575     5.000%, 6/15/22    6/11 at 100.00    AAA    6,841,419 
2,730    Penfield-Crown Oak Housing Development Corporation, New York, FHA-Insured Section 8 Assisted    2/07 at 100.00    AAA    2,736,825 
     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    14,504,210 
     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    2,273,783 
     5.250%, 7/01/21             
152,480    Total New York            161,040,721 
    North Carolina – 3.1% (1.9% of Total Investments)             
4,000    North Carolina Medical Care Commission, Health System Revenue Bonds, Mission St. Joseph’s    10/17 at 100.00    AA    3,944,040 
     Health System, Series 2007, 4.500%, 10/01/31             
665    North Carolina Medical Care Commission, Hospital Revenue Bonds, Pitt County Memorial Hospital,    12/08 at 101.00    AAA    672,275 
     Series 1998A, 4.750%, 12/01/28 – MBIA Insured             
12,405    North Carolina Medical Care Commission, Hospital Revenue Bonds, Pitt County Memorial Hospital,    12/08 at 101.00    AAA    12,759,287 
     Series 1998A, 4.750%, 12/01/28 (Pre-refunded 12/01/08) – MBIA Insured             
7,500    North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 2003A, 5.250%,    1/13 at 100.00    AAA    8,003,550 
     1/01/19 – MBIA Insured             
24,570    Total North Carolina            25,379,152 
    Ohio – 3.3% (2.1% 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    2,313,151 
2,600     5.250%, 6/01/21 – FSA Insured    12/12 at 100.00    AAA    2,777,918 
2,000     5.000%, 12/01/22 – FSA Insured    12/12 at 100.00    AAA    2,096,660 
10,000    Columbus City School District, Franklin County, Ohio, General Obligation Bonds, Series 2006,    12/16 at 100.00    AAA    9,627,300 
     4.250%, 12/01/32 – FSA Insured (UB)             
10,750    Ohio Water Development Authority, Solid Waste Disposal Revenue Bonds, Bay Shore Power, Series    9/08 at 102.00    N/R    10,910,928 
     1998A, 5.875%, 9/01/20 (Alternative Minimum Tax)             
27,515    Total Ohio            27,725,957 
    Oklahoma – 6.7% (4.2% of Total Investments)             
17,510    Pottawatomie County Home Finance Authority, Oklahoma, Single Family Mortgage Revenue Bonds,    No Opt. Call    AAA    20,131,772 
     Series 1991A, 8.625%, 7/01/10 (ETM)             
11,750    Tulsa Municipal Airport Trust, Oklahoma, Revenue Refunding Bonds, American Airlines Inc.,    12/08 at 100.00    B    12,039,285 
     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    23,421,851 
     Series 2001B, 5.650%, 12/01/35 (Mandatory put 12/01/08) (Alternative Minimum Tax)             
52,265    Total Oklahoma            55,592,908 
    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    3,207,900 
     2001A, 5.500%, 6/15/18 (Pre-refunded 6/15/11) – FSA Insured             
    Pennsylvania – 3.9% (2.5% of Total Investments)             
4,780    Carbon County Industrial Development Authority, Pennsylvania, Resource Recovery Revenue    No Opt. Call    BBB–    4,984,584 
     Refunding Bonds, Panther Creek Partners Project, Series 2000, 6.650%, 5/01/10 (Alternative             
     Minimum Tax)             
2,275    Falls Township Hospital Authority, Pennsylvania, FHA-Insured Revenue Refunding Bonds, Delaware    2/07 at 100.00    AAA    2,289,219 
     Valley Medical Center, Series 1992, 7.000%, 8/01/22             
1,500    Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 96A, 4.650%,    10/16 at 100.00    AA+    1,490,115 
     10/01/31 (Alternative Minimum Tax)             
2,600    Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2004A, 5.500%, 12/01/31 –    12/14 at 100.00    AAA    2,856,230 
     AMBAC Insured             
7,800    Philadelphia Gas Works, Pennsylvania, Revenue Bonds, General Ordinance, Fourth Series 1998,    8/13 at 100.00    AAA    8,113,482 
     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    6,549,780 
5,500     5.625%, 8/01/20 (Pre-refunded 8/01/12) – FGIC Insured    8/12 at 100.00    AAA    6,003,965 
30,455    Total Pennsylvania            32,287,375 
    Puerto Rico – 1.6% (1.0% of Total Investments)             
5,000    Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A,    No Opt. Call    AAA    988,400 
     0.000%, 7/01/42 – FGIC Insured             
5,000    Puerto Rico Municipal Finance Agency, Series 2002A, 5.000%, 8/01/27 – FSA Insured    8/12 at 100.00    AAA    5,199,600 
1,500    Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Refunding    7/12 at 100.00    BBB    1,566,180 
     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    1,737,105 
3,960    Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds,    5/12 at 100.00    BBB    4,139,190 
     Series 2002, 5.375%, 5/15/33             
16,960    Total Puerto Rico            13,630,475 
    South Carolina – 9.1% (5.8% of Total Investments)             
24,725    Greenville County School District, South Carolina, Installment Purchase Revenue Bonds, Series    12/12 at 101.00    AA– (4)    27,082,282 
     2002, 5.500%, 12/01/22 (Pre-refunded 12/01/12)             
    Horry County School District, South Carolina, General Obligation Bonds, Series 2001A:             
5,840     5.000%, 3/01/20    3/12 at 100.00    Aa1    6,115,590 
5,140     5.000%, 3/01/21    3/12 at 100.00    Aa1    5,382,557 
    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    5,615,027 
3,000     5.250%, 2/15/24 – MBIA Insured    8/14 at 100.00    AAA    3,196,710 
13,615    South Carolina Transportation Infrastructure Bank, Junior Lien Revenue Bonds, Series 2001B,    10/11 at 100.00    Aaa    14,298,881 
     5.125%, 10/01/21 – AMBAC Insured             
12,600    Tobacco Settlement Revenue Management Authority, South Carolina, Tobacco Settlement    5/11 at 101.00    BBB    13,652,604 
     Asset-Backed Bonds, Series 2001B, 6.375%, 5/15/28             
70,160    Total South Carolina            75,343,651 
    Tennessee – 1.4% (0.9% of Total Investments)             
3,000    Knox County Health, Educational and Housing Facilities Board, Tennessee, Hospital Revenue    4/12 at 101.00    Baa3    3,224,910 
     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 (Pre-refunded    11/10 at 101.00    A1 (4)    7,799,171 
     11/01/10)             
560    Tennessee Housing Development Agency, Homeownership Program Bonds, Series 2000-2B, 6.350%,    7/10 at 100.00    AA    571,558 
     1/01/31 (Alternative Minimum Tax)             
10,975    Total Tennessee            11,595,639 
    Texas – 17.5% (11.1% of Total Investments)             
1,000    Alamo Community College District, Bexar County, Texas, Combined Fee Revenue Refunding Bonds,    11/11 at 100.00    AAA    1,065,560 
     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–    6,637,410 
     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    No Opt. Call    Baa2    11,917,807 
     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    5,683,095 
     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    5,311,300 
     Series 2001A, 5.625%, 11/01/21 – FGIC Insured (Alternative Minimum Tax)             
2,500    Harris County Health Facilities Development Corporation, Texas, Thermal Utility Revenue Bonds,    11/13 at 100.00    AAA    2,586,300 
     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    2,839,590 
     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    23,648,400 
     5.250%, 12/01/30 (Pre-refunded 12/01/10) – FGIC Insured             
6,000    Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation    8/14 at 33.33    AAA    1,404,660 
     Bonds, Series 2006, 0.000%, 8/15/34             
    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–    5,031,761 
8,495     5.250%, 7/01/16    7/08 at 101.00    AA–    8,718,079 
17,655    Matagorda County Navigation District 1, Texas, Revenue Refunding Bonds, Houston Industries    11/08 at 102.00    AAA    18,241,323 
     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    5/07 at 100.00    BBB    7,707,222 
     Corporation, Series 1992, 5.350%, 11/01/10             
2,000    Sam Rayburn Municipal Power Agency, Texas, Power Supply System Revenue Refunding Bonds, Series    10/12 at 100.00    AA    2,167,860 
     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    15,414,734 
     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%,    No Opt. Call    AAA    12,036,760 
     2/01/17 (ETM)             
3,750    Spring Branch Independent School District, Harris County, Texas, Limited Tax Schoolhouse and    2/11 at 100.00    AAA    3,894,675 
     Refunding Bonds, Series 2001, 5.125%, 2/01/23             
    White Settlement Independent School District, Tarrant County, Texas, General Obligation Bonds,             
    Series 2006:             
9,110     0.000%, 8/15/38    8/15 at 30.30    AAA    1,846,870 
9,110     0.000%, 8/15/39    8/15 at 28.63    AAA    1,744,383 
6,610     0.000%, 8/15/42    8/15 at 24.42    AAA    1,079,016 
7,110     0.000%, 8/15/43    8/15 at 23.11    AAA    1,098,424 
5,000    Wichita Falls, Wichita County, Texas, Priority Lien Water and Sewerage System Revenue Bonds,    8/11 at 100.00    AAA    5,191,550 
     Series 2001, 5.000%, 8/01/22 – AMBAC Insured             
170,325    Total Texas            145,266,779 
    Utah – 1.6% (1.0% of Total Investments)             
5,800    Carbon County, Utah, Solid Waste Disposal Revenue Refunding Bonds, Laidlaw/ECDC Project,    2/07 at 100.00    BB–    5,843,036 
     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    7,486,491 
     5.000%, 4/01/25 – FSA Insured             
12,955    Total Utah            13,329,527 
    Virginia – 2.1% (1.3% of Total Investments)             
4,000    Norfolk Airport Authority, Virginia, Airport Revenue Refunding Bonds, Series 2001B, 5.125%,    7/11 at 100.00    AAA    4,111,720 
     7/01/31 – FGIC Insured (Alternative Minimum Tax)             
10,900    Suffolk Redevelopment and Housing Authority, Virginia, FNMA Multifamily Housing Revenue    No Opt. Call    Aaa    11,302,646 
     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+    680,907 
     (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    532,340 
500     5.000%, 4/01/19    4/12 at 102.00    AA    531,520 
16,565    Total Virginia            17,159,133 
    Washington – 10.2% (6.4% of Total Investments)             
6,750    Energy Northwest, Washington, Electric Revenue Refunding Bonds, Columbia Generating Station –    7/12 at 100.00    AAA    7,183,215 
     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    2,721,875 
     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    7,288,882 
     (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    14,009,432 
9,440    Tacoma, Washington, Electric System Revenue Refunding Bonds, Series 2001A, 5.750%, 1/01/18    1/11 at 101.00    AAA    10,194,162 
     (Pre-refunded 1/01/11) – FSA Insured             
5,000    Washington State Healthcare Facilities Authority, Revenue Bonds, Providence Health Care    10/16 at 100.00    AAA    4,961,100 
     Services, Series 2006A, 4.625%, 10/01/34 – FGIC Insured             
3,365    Washington State Tobacco Settlement Authority, Tobacco Settlement Asset-Backed Revenue Bonds,    6/13 at 100.00    BBB    3,694,164 
     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    18,812,917 
    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    7,317,380 
7,960     5.000%, 1/01/22 – FSA Insured    1/12 at 100.00    AAA    8,290,181 
80,510    Total Washington            84,473,308 
    Wisconsin – 1.4% (0.9% of Total Investments)             
190    Badger Tobacco Asset Securitization Corporation, Wisconsin, Tobacco Settlement Asset-Backed    6/12 at 100.00    BBB    203,292 
     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    7,889,127 
     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+    3,244,020 
     Series 2004, 5.750%, 5/01/29             
430    Wisconsin Housing and Economic Development Authority, Housing Revenue Bonds, Series 1992A,    7/07 at 100.00    AA    430,684 
     6.850%, 11/01/12             
11,165    Total Wisconsin            11,767,123 
$   1,416,650    Total Long-Term Investments (cost $1,221,798,213) – 157.9%            1,306,762,488 
    Short-Term Investments – 0.8% (0.5% of Total Investments)             
$          7,000    Idaho Health Facilities Authority, Revenue Bonds, St. Luke’s Regional Medical Center, Variable        A-1+    7,000,000 
     Rate Demand Obligations, Series 2000, 3.700%, 7/01/30 – FSA Insured (5)             
    Total Short-Term Investments (cost $7,000,000)            7,000,000 
    Total Investments (cost $1,228,798,213) – 158.7%            1,313,762,488 
    Floating Rate Obligation – (5.1%)            (42,385,000) 
    Other Assets Less Liabilities – 1.0%            8,568,663 
    Preferred Shares, at Liquidation Value – (54.6)%            (452,000,000) 
    Net Assets Applicable to Common Shares – 100%           $   827,946,151 

(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 BBB by Standard & 
    Poor’s Group or Baa by Moody’s Investor Service, Inc. are considered to be below investment grade. 
(4)    Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency 
    securities which ensure the timely payment of principal and interest. Such investments are normally 
    considered to be equivalent to AAA rated securities. 
(5)    Investment has a maturity of more than one year, but has variable rate and demand features which 
    qualify it as a short-term investment. The rate disclosed is that in effect at the end of the reporting 
    period. This rate changes periodically based on market conditions or a specified market index. 
N/R    Not rated. 
(ETM)    Escrowed to maturity. 
(UB)    Underlying bond of an inverse floating rate trust reflected as a financing transaction pursuant to the 
    provisions of SFAS No. 140. 

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 the treatment of paydown gains and losses, timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate transactions subject to SFAS No.140.

At January 31, 2007, the cost of investments was $1,186,027,327.

Gross unrealized appreciation and gross unrealized depreciation of investments at January 31, 2007, were as follows:

Gross unrealized:     
  Appreciation    $85,960,706 
  Depreciation    (610,557) 
Net unrealized appreciation (depreciation) of investments    $85,350,149 

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 30, 2007        

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 30, 2007        

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

Date        March 30, 2007        

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