N-Q 1 nq2.htm NQU_NQ Unassociated Document



 
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)
 

Kevin J. McCarthy
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:         1/31/10         
 
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, 2010      
Principal   Optional Call    
Amount (000) Description (1) Provisions (2) Ratings (3) Value
  Alabama – 2.8% (1.8% of Total Investments)      
  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  $   7,897,487 
6,340  5.500%, 2/01/31 (Pre-refunded 2/01/11) – FGIC Insured  2/11 at 101.00  AAA  6,659,473 
6,970  5.500%, 2/01/31 (Pre-refunded 2/01/11) – FGIC Insured  2/11 at 101.00  AAA  7,363,944 
20,785  Total Alabama      21,920,904 
  Alaska – 1.8% (1.1% of Total Investments)      
6,110  Alaska Housing Finance Corporation, General Housing Purpose Bonds, Series 2005A, 5.000%,  12/14 at 100.00  AA  6,300,082 
  12/01/27 – FGIC Insured (UB)       
11,000  Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds,  6/14 at 100.00  Baa3  7,427,750 
  Series 2006A, 5.000%, 6/01/46       
17,110  Total Alaska      13,727,832 
  Arizona – 2.2% (1.4% of Total Investments)      
5,350  Arizona Tourism and Sports Authority, Tax Revenue Bonds, Multipurpose Stadium Facility  7/13 at 100.00  A2  5,379,853 
  Project, Series 2003A, 5.000%, 7/01/28 – NPFG Insured       
1,000  Mesa, Arizona, Utility System Revenue Refunding Bonds, Series 2002, 5.250%, 7/01/17 –  No Opt. Call  AA–  1,120,080 
  FGIC Insured       
2,350  Phoenix, Arizona, Civic Improvement Corporation, Senior Lien Airport Revenue Bonds, Series  7/18 at 100.00  AA–  2,375,662 
  2008A, 5.000%, 7/01/33       
8,010  Salt River Project Agricultural Improvement and Power District, Arizona, Electric System  1/12 at 101.00  Aa1  8,259,031 
  Revenue Refunding Bonds, Series 2002A, 5.125%, 1/01/27       
16,710  Total Arizona      17,134,626 
  Arkansas – 1.0% (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  Aa3  632,800 
19,800  0.000%, 7/01/46 – AMBAC Insured  No Opt. Call  Aa3  2,769,624 
4,000  University of Arkansas, Fayetteville, Revenue Bonds, Medical Sciences Campus, Series 2004B,  11/14 at 100.00  Aa3  4,082,760 
  5.000%, 11/01/34 – NPFG Insured       
26,300  Total Arkansas      7,485,184 
  California – 13.6% (8.7% of Total Investments)      
12,500  Anaheim Public Finance Authority, California, Subordinate Lease Revenue Bonds, Public  No Opt. Call  AAA  2,192,250 
  Improvement Project, Series 1997C, 0.000%, 9/01/35 – AGM Insured       
1,000  California Department of Water Resources, Power Supply Revenue Bonds, Series 2002A, 5.750%,  5/12 at 101.00  Aaa  1,122,210 
  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  5,639,940 
  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–  3,307,067 
  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  1,236,294 
  Health System, Series 2005A, 5.250%, 7/01/30       
3,600  California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health System,  7/18 at 100.00  AA–  3,692,268 
  Series 2007A, 5.750%, 7/01/47 – FGIC Insured       
14,600  California, General Obligation Bonds, Series 2003, 5.250%, 2/01/28  8/13 at 100.00  A–  14,499,114 
25,000  California, General Obligation Bonds, Series 2005, 4.750%, 3/01/35 – NPFG Insured  3/16 at 100.00  21,348,749 
10,000  California, Various Purpose General Obligation Bonds, Series 1999, 4.750%, 4/01/29 –  4/10 at 100.00  9,161,900 
  NPFG Insured       
16,000  California, Various Purpose General Obligation Bonds, Series 2007, 5.000%, 6/01/37  6/17 at 100.00  A–  14,274,240 
8,500  Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Series  7/10 at 100.00  7,223,130 
  1995A, 5.000%, 1/01/35 – NPFG Insured       
  Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement       
  Asset-Backed Bonds, Series 2007A-1:       
10,100  5.000%, 6/01/33  6/17 at 100.00  BBB  7,879,212 
1,500  5.125%, 6/01/47  6/17 at 100.00  BBB  1,036,095 
3,300  M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009B,  No Opt. Call  3,489,189 
  6.500%, 11/01/39       
1,830  San Diego Public Facilities Financing Authority, California, Water Utility Revenue Bonds,  8/19 at 100.00  AA–  2,228,830 
  Tender Option Bond Trust 3504, 19.428%, 8/01/39 (IF)       
30,000  San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue  No Opt. Call  3,675,900 
  Refunding Bonds, Series 1997A, 0.000%, 1/15/35 – NPFG Insured       
3,000  San Mateo County Community College District, California, General Obligation Bonds, Series  No Opt. Call  Aa1  873,780 
  2006C, 0.000%, 9/01/30 – NPFG Insured       
1,500  Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed  6/15 at 100.00  BBB  1,085,760 
  Bonds, Series 2005A-1, 5.500%, 6/01/45       
1,955  Tobacco Securitization Authority of Southern California, Tobacco Settlement Asset-Backed  6/14 at 100.00  BBB  1,792,852 
  Bonds, San Diego County Tobacco Asset Securitization Corporation, Senior Series 2001A,       
  4.750%, 6/01/25       
155,195  Total California      105,758,780 
  Colorado – 5.4% (3.5% of Total Investments)      
1,000  Colorado Health Facilities Authority, Revenue Bonds, Poudre Valley Health System, Series  9/18 at 102.00  AAA  998,000 
  2005C, 5.250%, 3/01/40 – AGM Insured       
10,000  Denver City and County, Colorado, Airport System Revenue Refunding Bonds, Series 2000A,  11/10 at 100.00  A+  10,072,900 
  5.625%, 11/15/23 – AMBAC Insured (Alternative Minimum Tax)       
6,185  E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B, 0.000%,  No Opt. Call  2,147,308 
  9/01/26 – NPFG Insured       
43,000  E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B, 0.000%,  No Opt. Call  8,940,990 
  9/01/33 – NPFG Insured       
14,400  E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B, 0.000%,  9/10 at 65.63  Aaa  9,418,896 
  9/01/17 (Pre-refunded 9/01/10) – NPFG Insured       
7,000  E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004A, 0.000%,  No Opt. Call  1,335,180 
  9/01/34 – NPFG Insured       
8,740  Larimer County School District R1, Poudre, Colorado, General Obligation Bonds, Series 2000,  12/10 at 100.00  Aa3 (4)  9,116,781 
  5.125%, 12/15/19 (Pre-refunded 12/15/10) – FGIC Insured       
90,325  Total Colorado      42,030,055 
  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  A– (4)  4,716,494 
  8/15/11) – FGIC Insured       
  Florida – 1.0% (0.6% of Total Investments)      
2,500  Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series  10/20 at 100.00  A2  2,490,375 
  2010A-1, 5.375%, 10/01/41       
5,000  Orange County Health Facilities Authority, Florida, Hospital Revenue Bonds, Adventist Health  11/10 at 101.00  A1 (4)  5,293,150 
  System/Sunbelt Obligated Group, Series 2000, 6.500%, 11/15/30 (Pre-refunded 11/15/10)       
7,500  Total Florida      7,783,525 
  Georgia – 0.7% (0.5% of Total Investments)      
5,000  Medical Center Hospital Authority, Georgia, Revenue Anticipation Certificates, Columbus  8/18 at 100.00  AAA  5,489,050 
  Regional Healthcare System, Inc. Project, Series 2008, 6.500%, 8/01/38       
  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  10,274,800 
  5.750%, 7/01/21 – FGIC Insured       
  Illinois – 13.0% (8.4% 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) – AGM Insured  12/11 at 100.00  AAA  1,088,660 
3,000  5.000%, 12/01/20 (Pre-refunded 12/01/11) – AGM Insured  12/11 at 100.00  AAA  3,238,590 
2,000  5.000%, 12/01/21 (Pre-refunded 12/01/11) – AGM Insured  12/11 at 100.00  AAA  2,159,060 
  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  AA–  8,174,052 
4,400  0.000%, 12/01/15 – FGIC Insured  No Opt. Call  AA–  3,626,876 
32,670  Chicago, Illinois, General Obligation Bonds, City Colleges, Series 1999, 0.000%, 1/01/32 –  No Opt. Call  AA–  10,378,279 
  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  AA– (4)  703,562 
4,320  6.000%, 1/01/28 (Pre-refunded 7/01/10) – FGIC Insured  7/10 at 101.00  AA– (4)  4,469,688 
190  Chicago, Illinois, General Obligation Bonds, Series 2002A, 5.000%, 1/01/18 – AMBAC Insured  7/12 at 100.00  AA–  203,083 
  Chicago, Illinois, General Obligation Bonds, Series 2002A:       
70  5.000%, 1/01/18 (Pre-refunded 7/01/12) – AMBAC Insured  7/12 at 100.00  Aa3 (4)  77,154 
6,190  5.000%, 1/01/18 (Pre-refunded 7/01/12) – AMBAC Insured  7/12 at 100.00  AA– (4)  6,822,618 
5,045  Chicago, Illinois, General Obligation Refunding Bonds, Series 2000D, 5.750%, 1/01/30 –  7/10 at 100.50  AA–  5,116,589 
  FGIC Insured       
13,300  Chicago, Illinois, Revenue Bonds, Midway Airport, Series 1998A, 5.125%, 1/01/35 – NPFG Insured  7/10 at 100.50  12,388,551 
  (Alternative Minimum Tax)       
  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  3,411,390 
1,800  6.000%, 5/01/22 (Pre-refunded 5/01/12)  5/12 at 101.00  Aaa  2,021,778 
1,050  Illinois Finance Authority, General Obligation Debt Certificates, Local Government Program –  12/14 at 100.00  A3  1,075,883 
  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  AAA  15,280,200 
  5.000%, 12/01/42 (UB)       
2,000  Illinois Finance Authority, Revenue Bonds, Children’s Memorial Hospital, Series 2008,  8/18 at 100.00  AAA  1,972,180 
  5.250%, 8/15/47 – AGC Insured (UB)       
1,000  Illinois Finance Authority, Revenue Bonds, Edward Health Services Corporation, Series 2008A,  2/18 at 100.00  A+  988,410 
  5.500%, 2/01/40 – AMBAC Insured       
4,000  Illinois Finance Authority, Revenue Bonds, MeMmorial Health System, Series 2009,  No Opt. Call  A+  3,947,040 
  5.500%, 4/01/34       
5,000  Illinois Finance Authority, Revenue Bonds, Northwestern Memorial Hospital, Series 2004A,  8/14 at 100.00  N/R (4)  5,865,300 
  5.500%, 8/15/43 (Pre-refunded 8/15/14)       
5,000  Illinois, General Obligation Bonds, Illinois FIRST Program, Series 2000, 5.450%, 12/01/21 –  12/10 at 100.00  A+  5,170,000 
  NPFG Insured       
2,270  Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion  6/12 at 101.00  AAA  2,317,216 
  Project, Series 2002A, 5.000%, 12/15/28 – NPFG Insured       
940  Montgomery, Illinois, Lakewood Creek Project Special Assessment Bonds, Series 2007, 4.700%,  3/16 at 100.00  N/R  779,232 
  3/01/30 – RAAI Insured       
123,325  Total Illinois      101,275,391 
  Indiana – 1.7% (1.1% of Total Investments)      
2,000  Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Deaconess Hospital Inc.,  3/14 at 100.00  A+  1,974,620 
  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  A+  3,323,754 
  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  2,135,256 
  Series 2005A, 5.000%, 5/01/35 – AMBAC Insured       
6,015  St. Joseph County Hospital Authority, Indiana, Revenue Bonds, Memorial Health System, Series  2/10 at 100.00  AA–  6,014,759 
  1998A, 4.625%, 8/15/28 – NPFG Insured       
13,655  Total Indiana      13,448,389 
  Iowa – 1.0% (0.7% of Total Investments)      
  Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C:       
4,000  5.375%, 6/01/38  6/15 at 100.00  BBB  2,955,360 
7,000  5.625%, 6/01/46  6/15 at 100.00  BBB  5,194,350 
11,000  Total Iowa      8,149,710 
  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  Aa3 (4)  4,708,749 
  4.750%, 9/01/19 (Pre-refunded 9/01/10) – AGM Insured       
1,750  Wamego, Kansas, Pollution Control Revenue Bonds, Kansas Gas and Electric Company, Series 2004,  6/14 at 100.00  1,778,315 
  5.300%, 6/01/31 – NPFG Insured       
6,335  Total Kansas      6,487,064 
  Kentucky – 0.5% (0.3% of Total Investments)      
1,000  Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds,  6/18 at 100.00  AAA  1,093,090 
  Louisville Arena Authority, Inc., Series 2008A-1, 6.000%, 12/01/33 – AGC Insured       
2,500  Kentucky State Property and Buildings Commission, Revenue Refunding Bonds, Project 74, Series  2/12 at 100.00  AAA  2,736,300 
  2002, 5.375%, 2/01/18 (Pre-refunded 2/01/12) – AGM Insured       
3,500  Total Kentucky      3,829,390 
  Louisiana – 3.7% (2.4% of Total Investments)      
10,000  Louisiana Public Facilities Authority, Hospital Revenue Bonds, Franciscan Missionaries of Our  No Opt. Call  AAA  11,200,900 
  Lady Health System, Series 1998A, 5.750%, 7/01/25 – AGM Insured (UB)       
9,000  Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project,  5/17 at 100.00  Baa1  8,236,260 
  Series 2007A, 5.500%, 5/15/47       
5,500  Louisiana Public Facilities Authority, Revenue Bonds, Tulane University, Series 2002A, 5.000%,  7/12 at 100.00  A2 (4)  6,045,325 
  7/01/32 (Pre-refunded 7/01/12) – AMBAC Insured       
3,190  Tobacco Settlement Financing Corporation, Louisiana, Tobacco Settlement Asset-Backed Bonds,  5/11 at 101.00  BBB  3,005,363 
  Series 2001B, 5.875%, 5/15/39       
27,690  Total Louisiana      28,487,848 
  Massachusetts – 7.7% (4.9% of Total Investments)      
500  Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc.,  7/18 at 100.00  A3  457,780 
  Series 2008E-1, 5.125%, 7/01/38       
7,405  Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Massachusetts  No Opt. Call  AAA  9,076,531 
  Institute of Technology, Series 2002K, 5.500%, 7/01/32 (UB)       
2,300  Massachusetts Health and Educational Facilities Authority, Revenue Refunding Bonds, Suffolk  7/19 at 100.00  BBB  2,334,960 
  University Issue, Series 2009, 5.750%, 7/01/39       
6,000  Massachusetts Industrial Finance Agency, Resource Recovery Revenue Refunding Bonds, Ogden  6/10 at 101.00  BBB  5,652,960 
  Haverhill Project, Series 1998A, 5.600%, 12/01/19 (Alternative Minimum Tax)       
12,500  Massachusetts Turnpike Authority, Metropolitan Highway System Revenue Bonds, Senior Series  7/10 at 100.00  12,157,000 
  1997A, 5.000%, 1/01/37 – NPFG Insured       
13,500  Massachusetts Turnpike Authority, Metropolitan Highway System Revenue Bonds, Subordinate  7/10 at 100.00  AA  13,276,305 
  Series 1999A, 5.000%, 1/01/39 – AMBAC Insured       
425  Massachusetts Water Pollution Abatement Trust, Revenue Bonds, MWRA Loan Program, Subordinate  2/10 at 101.00  AAA  430,725 
  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  AA+ (4)  10,375,600 
  (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  A+ (4)  5,949,115 
  2000-2, 5.250%, 11/01/20 (Pre-refunded 11/01/10) – AMBAC Insured       
58,360  Total Massachusetts      59,710,976 
  Michigan – 1.0% (0.7% of Total Investments)      
3,790  Michigan Municipal Bond Authority, General Obligation Bonds, Detroit City School District,  6/15 at 100.00  AAA  4,014,292 
  Series 2005, 5.000%, 6/01/20 – AGM Insured       
3,050  Michigan Tobacco Settlement Finance Authority, Tobacco Settlement Asset-Backed Revenue Bonds,  6/18 at 100.00  Baa3  2,818,902 
  Series 2008A, 6.875%, 6/01/42       
1,150  Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont  9/18 at 100.00  A1  1,337,554 
  Hospital, Refunding Series 2009V, 8.250%, 9/01/39       
7,990  Total Michigan      8,170,748 
  Minnesota – 1.3% (0.8% 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)  2,003,880 
2,685  6.000%, 10/01/25 (Pre-refunded 10/01/10)  10/10 at 100.00  A3 (4)  2,787,782 
3,655  Dakota and Washington Counties Housing and Redevelopment Authority, Minnesota, GNMA  No Opt. Call  AAA  5,141,562 
  Mortgage-Backed Securities Program Single Family Residential Mortgage Revenue Bonds,       
  Series 1988, 8.450%, 9/01/19 (Alternative Minimum Tax) (ETM)       
8,270  Total Minnesota      9,933,224 
  Mississippi – 0.6% (0.4% of Total Investments)      
1,875  Mississippi Hospital Equipment and Facilities Authority, Revenue Bonds, Baptist Memorial  9/14 at 100.00  AA  1,925,925 
  Healthcare, Series 2004B-1, 5.000%, 9/01/24 (UB)       
2,500  Mississippi Hospital Equipment and Facilities Authority, Revenue Bonds, Forrest County General  1/11 at 101.00  Aa3 (4)  2,641,550 
  Hospital, Series 2000, 5.500%, 1/01/27 (Pre-refunded 1/01/11) – AGM Insured       
4,375  Total Mississippi      4,567,475 
  Missouri – 1.6% (1.0% of Total Investments)      
15,000  Kansas City Municipal Assistance Corporation, Missouri, Leasehold Revenue Bonds, Series  No Opt. Call  AA–  5,383,200 
  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  2,471,400 
  Appropriation Bonds, Metrolink Cross County Extension Project, Series 2002B, 5.000%,       
  10/01/23 – AGM Insured       
15,350  Springfield Public Building Corporation, Missouri, Lease Revenue Bonds, Jordan Valley Park  No Opt. Call  N/R  4,513,207 
  Projects, Series 2000A, 0.000%, 6/01/30 – AMBAC Insured       
32,750  Total Missouri      12,367,807 
  Nevada – 7.2% (4.6% of Total Investments)      
34,470  Clark County School District, Nevada, General Obligation Bonds, Series 2002C, 5.000%, 6/15/20  6/12 at 100.00  AA (4)  37,878,737 
  (Pre-refunded 6/15/12) – NPFG Insured       
14,515  Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran  1/20 at 100.00  Aa3  14,182,752 
  International Airport, Series 2010A, 5.250%, 7/01/42 (WI/DD, Settling 2/03/10)       
6,845  Director of Nevada State Department of Business and Industry, Revenue Bonds, Las Vegas  No Opt. Call  Caa2  1,191,441 
  Monorail Project, First Tier, Series 2000, 0.000%, 1/01/23 – AMBAC Insured       
2,500  Reno, Nevada, Health Facilty Revenue Bonds, Catholic Healthcare West, Trust 2634, 18.719%,  7/17 at 100.00  AA+  2,696,500 
  7/01/31 – BHAC Insured (IF)       
58,330  Total Nevada      55,949,430 
  New Jersey – 5.1% (3.3% 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  1,118,390 
  (Pre-refunded 12/15/12) – AGM Insured       
10,000  New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Barnabas Health  1/17 at 37.38  BB+  1,175,200 
  Care System, Series 2006A, 0.000%, 7/01/36       
2,150  New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Trinitas Hospital  7/10 at 101.00  BBB– (4)  2,236,688 
  Obligated Group, Series 2000, 7.500%, 7/01/30 (Pre-refunded 7/01/10)       
2,025  New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2001B,  12/11 at 100.00  AA– (4)  2,229,667 
  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  3,678,208 
  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 – AGM Insured  No Opt. Call  AAA  5,071,200 
20,000  0.000%, 12/15/35 – AMBAC Insured  No Opt. Call  AA–  4,078,200 
20,000  0.000%, 12/15/36 – AMBAC Insured  No Opt. Call  AA–  3,825,200 
  Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds,       
  Series 2002:       
1,965  5.750%, 6/01/32 (Pre-refunded 6/01/12)  6/12 at 100.00  AAA  2,129,687 
1,000  6.125%, 6/01/42 (Pre-refunded 6/01/12)  6/12 at 100.00  AAA  1,122,330 
  Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds,       
  Series 2003:       
9,420  6.750%, 6/01/39 (Pre-refunded 6/01/13)  6/13 at 100.00  AAA  11,158,273 
1,850  6.250%, 6/01/43 (Pre-refunded 6/01/13)  6/13 at 100.00  AAA  2,161,133 
92,610  Total New Jersey      39,984,176 
  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)  6,417,071 
  Services, Series 2001A, 5.500%, 8/01/21 (Pre-refunded 8/01/11)       
  New York – 13.9% (8.9% of Total Investments)      
275  Dormitory Authority of the State of New York, Insured Revenue Bonds, Fordham University,  7/10 at 100.00  275,561 
  Series 1998, 5.000%, 7/01/28 – NPFG Insured       
2,250  Dormitory Authority of the State of New York, Insured Revenue Bonds, Mount Sinai School of  No Opt. Call  2,299,410 
  Medicine, Series 1994A, 5.150%, 7/01/24 – NPFG Insured       
20,000  Erie County Tobacco Asset Securitization Corporation, New York, Senior Tobacco Settlement  7/10 at 101.00  AAA  20,751,799 
  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  1,203,378 
  2/15/47 – NPFG Insured       
1,130  Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2001A,  9/11 at 100.00  AAA  1,217,089 
  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  AA (4)  15,151,650 
  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  13,351,800 
  4.500%, 11/15/32 – AGM Insured (UB)       
  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  8,247,606 
2,065  5.750%, 11/15/19 (Pre-refunded 5/15/10)  5/10 at 101.00  AAA  2,119,640 
  New York City, New York, General Obligation Bonds, Fiscal Series 2002G:       
950  5.000%, 8/01/17  8/12 at 100.00  AA  993,567 
6,540  5.750%, 8/01/18  8/12 at 100.00  AA  7,130,039 
4,005  New York City, New York, General Obligation Bonds, Fiscal Series 2002G, 5.750%, 8/01/18  8/12 at 100.00  AA (4)  4,509,149 
  (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  5,470,400 
  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  6,339,466 
6,575  5.000%, 6/15/22  6/11 at 100.00  AAA  6,864,497 
11,540  Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred  11/12 at 101.00  AAA  12,539,018 
  Twenty-Eighth Series 2002, 5.000%, 11/01/20 – AGM Insured       
104,320  Total New York      108,464,069 
  North Carolina – 2.0% (1.3% of Total Investments)      
4,000  North Carolina Medical Care Commission, Health System Revenue Bonds, Mission St. Joseph’s  10/17 at 100.00  AA  3,870,600 
  Health System, Series 2007, 4.500%, 10/01/31 (UB)       
665  North Carolina Medical Care Commission, Hospital Revenue Bonds, Pitt County Memorial Hospital,  12/10 at 100.00  A1  633,127 
  Series 1998A, 4.750%, 12/01/28 – NPFG Insured       
7,500  North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 2003A, 5.250%,  1/13 at 100.00  8,124,375 
  1/01/19 – NPFG Insured       
3,000  The Charlotte-Mecklenberg Hospital Authority, North Carolina, Doing Business as Carolinas  1/18 at 100.00  AA–  2,999,940 
  HealthCare System, Health Care Refunding Revenue Bonds, Series 2008A, 5.000%, 1/15/47       
15,165  Total North Carolina      15,628,042 
  Ohio – 5.9% (3.8% of Total Investments)      
10,000  American Municipal Power Ohio Inc., General Revenue Bonds, Series 2008, 5.250%, 2/15/43  2/18 at 100.00  A1  10,084,600 
  Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue       
  Bonds, Senior Lien, Series 2007A-2:       
205  5.125%, 6/01/24  6/17 at 100.00  BBB  190,502 
1,925  5.875%, 6/01/30  6/17 at 100.00  BBB  1,661,910 
5,040  5.750%, 6/01/34  6/17 at 100.00  BBB  4,190,911 
2,400  6.000%, 6/01/42  6/17 at 100.00  BBB  1,913,496 
5,730  5.875%, 6/01/47  6/17 at 100.00  BBB  4,396,400 
10,000  Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue  6/22 at 100.00  BBB  6,629,000 
  Bonds, Senior Lien, Series 2007A-3, 0.000%, 6/01/37       
  Cincinnati City School District, Hamilton County, Ohio, General Obligation Bonds, Series 2002:       
2,165  5.250%, 6/01/19 – AGM Insured  12/12 at 100.00  AAA  2,369,376 
2,600  5.250%, 6/01/21 – AGM Insured  12/12 at 100.00  AAA  2,800,096 
2,000  5.000%, 12/01/22 – AGM Insured  12/12 at 100.00  AAA  2,089,500 
10,000  Columbus City School District, Franklin County, Ohio, General Obligation Bonds, Series 2006,  12/16 at 100.00  AAA  9,494,300 
  4.250%, 12/01/32 – AGM Insured (UB)       
52,065  Total Ohio      45,820,091 
  Oklahoma – 3.5% (2.2% of Total Investments)      
1,675  Oklahoma Development Finance Authority, Health System Revenue Bonds, Integris Baptist Medical  8/18 at 100.00  AA–  1,735,602 
  Center, Series 2008B, 5.250%, 8/15/38       
6,040  Oklahoma Development Finance Authority, Revenue Bonds, Saint John Health System, Series 2007,  2/17 at 100.00  5,519,654 
  5.000%, 2/15/42       
2,000  Oklahoma Municipal Power Authority, Power Supply System Revenue Bonds, Series 2007, 4.500%,  1/17 at 100.00  1,765,800 
  1/01/47 – FGIC Insured       
17,510  Pottawatomie County Home Finance Authority, Oklahoma, Single Family Mortgage Revenue Bonds,  No Opt. Call  AAA  18,128,453 
  Series 1991A, 8.625%, 7/01/10 (ETM)       
27,225  Total Oklahoma      27,149,509 
  Oregon – 0.4% (0.3% of Total Investments)      
3,000  Deschutes County School District 1, Bend-La Pine, Oregon, General Obligation Bonds, Series  6/11 at 100.00  Aa2 (4)  3,204,870 
  2001A, 5.500%, 6/15/18 (Pre-refunded 6/15/11) – AGM Insured       
210  Oregon Housing and Community Services Department, Single Family Mortgage Revenue Bonds, Series  1/14 at 100.00  Aa2  216,199 
  2004H, 5.125%, 1/01/29 (Alternative Minimum Tax)       
3,210  Total Oregon      3,421,069 
  Pennsylvania – 4.1% (2.7% of Total Investments)      
2,000  Allegheny County Hospital Development Authority, Pennsylvania, University of Pittsburgh  No Opt. Call  Aa3  2,043,640 
  Medical Center Revenue Bonds, Series 2009A, 5.625%, 8/15/39       
220  Allentown, Pennsylvania, General Obligation Bonds, Series 2003, 5.500%, 10/01/19 – FGIC Insured  10/13 at 100.00  Baa1  239,125 
1,450  Carbon County Industrial Development Authority, Pennsylvania, Resource Recovery Revenue  No Opt. Call  BBB–  1,450,174 
  Refunding Bonds, Panther Creek Partners Project, Series 2000, 6.650%, 5/01/10 (Alternative       
  Minimum Tax)       
1,500  Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2006-96A,  10/16 at 100.00  AA+  1,393,395 
  4.650%, 10/01/31 (Alternative Minimum Tax) (UB)       
2,600  Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2004A, 5.500%, 12/01/31 –  12/14 at 100.00  Aa3  2,669,680 
  AMBAC Insured       
5,000  Pennsylvania Turnpike Commission, Turnpike Subordinate Revenue Bonds, Series 2009C, 0.000%,  6/26 at 100.00  AAA  3,641,800 
  6/01/33 – AGM Insured       
7,800  Philadelphia Gas Works, Pennsylvania, Revenue Bonds, General Ordinance, Fourth Series 1998,  8/13 at 100.00  AAA  7,837,284 
  5.000%, 8/01/32 – AGM 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  Aa3 (4)  6,712,740 
5,500  5.625%, 8/01/20 (Pre-refunded 8/01/12) – FGIC Insured  8/12 at 100.00  Aa3 (4)  6,153,345 
32,070  Total Pennsylvania      32,141,183 
  Puerto Rico – 6.5% (4.2% of Total Investments)      
2,500  Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A,  7/18 at 100.00  BBB–  2,532,800 
  6.000%, 7/01/44       
5,000  Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A,  No Opt. Call  BBB+  496,500 
  0.000%, 7/01/42 – FGIC Insured       
5,000  Puerto Rico Municipal Finance Agency, Series 2002A, 5.000%, 8/01/27 – AGM Insured  8/12 at 100.00  AAA  5,012,200 
1,500  Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Refunding  7/12 at 100.00  BBB–  1,486,215 
  Bonds, Series 2002D, 5.125%, 7/01/20       
8,000  Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series  8/26 at 100.00  A+  5,828,560 
  2009A, 0.000%, 8/01/32       
13,125  Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series  8/29 at 100.00  A+  7,502,906 
  2010A, 0.000%, 8/01/33 (WI/DD, Settling 2/09/10)       
  Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A:       
50,000  0.000%, 8/01/47 – AMBAC Insured  No Opt. Call  AA–  4,972,000 
55,000  0.000%, 8/01/54 – AMBAC Insured  No Opt. Call  AA–  3,199,900 
15,000  Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Tender Option Bond,  8/17 at 100.00  AA–  14,790,750 
  5.250%, 8/01/57 (UB)       
1,500  Puerto Rico, General Obligation and Public Improvement Bonds, Series 2001A, 5.500%, 7/01/29  No Opt. Call  AAA  1,512,435 
3,465  Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds,  5/12 at 100.00  BBB  3,342,096 
  Series 2002, 5.375%, 5/15/33       
160,090  Total Puerto Rico      50,676,362 
  Rhode Island – 0.5% (0.3% of Total Investments)      
  Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds,       
  Series 2002A:       
2,230  6.125%, 6/01/32  6/12 at 100.00  BBB  2,130,163 
1,865  6.250%, 6/01/42  6/12 at 100.00  BBB  1,775,629 
4,095  Total Rhode Island      3,905,792 
  South Carolina – 8.4% (5.4% of Total Investments)      
24,725  Greenville County School District, South Carolina, Installment Purchase Revenue Bonds, Series  12/12 at 101.00  Aaa  28,182,543 
  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  6,234,375 
5,140  5.000%, 3/01/21  3/12 at 100.00  Aa1  5,487,104 
  Medical University Hospital Authority, South Carolina, FHA-Insured Mortgage Revenue Bonds,       
  Series 2004A:       
5,240  5.250%, 8/15/20 – NPFG Insured  8/14 at 100.00  5,498,070 
3,000  5.250%, 2/15/24 – NPFG Insured  8/14 at 100.00  3,121,470 
7,600  Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Series 2004A-2,  No Opt. Call  A–  2,283,724 
  0.000%, 1/01/31 – AMBAC Insured       
13,615  South Carolina Transportation Infrastructure Bank, Junior Lien Revenue Bonds, Series 2001B,  10/11 at 100.00  N/R (4)  14,641,979 
  5.125%, 10/01/21 (Pre-refunded 10/01/11) – AMBAC Insured       
65,160  Total South Carolina      65,449,265 
  Tennessee – 0.4% (0.3% of Total Investments)      
3,000  Knox County Health, Educational and Housing Facilities Board, Tennessee, Hospital Revenue  4/12 at 101.00  A1  3,188,490 
  Bonds, Baptist Health System of East Tennessee Inc., Series 2002, 6.375%, 4/15/22       
  Texas – 15.0% (9.7% of Total Investments)      
535  Alamo Community College District, Bexar County, Texas, Combined Fee Revenue Refunding Bonds,  11/11 at 100.00  AAA  577,998 
  Series 2001, 5.375%, 11/01/16 – AGM Insured       
465  Alamo Community College District, Bexar County, Texas, Combined Fee Revenue Refunding Bonds,  11/11 at 100.00  Aa3 (4)  504,014 
  Series 2001, 5.375%, 11/01/16 (Pre-refunded 11/01/11) – AGM Insured       
11,255  Brazos River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric  No Opt. Call  CCC  10,591,968 
  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  4,734,895 
  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  A+  5,110,100 
  Series 2001A, 5.625%, 11/01/21 – FGIC Insured (Alternative Minimum Tax)       
2,700  Harris County-Houston Sports Authority, Texas, Senior Lien Revenue Bonds, Series 2001G,  11/11 at 100.00  2,521,692 
  5.250%, 11/15/30 – NPFG Insured       
14,975  Harris County-Houston Sports Authority, Texas, Third Lien Revenue Bonds, Series 2004-A3.,  11/24 at 55.69  2,567,614 
  0.000%, 11/15/34 – NPFG Insured       
4,865  Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment  No Opt. Call  AAA  1,844,759 
  Project, Series 2001B, 0.000%, 9/01/27 – AMBAC Insured       
22,500  Houston, Texas, Junior Lien Water and Sewerage System Revenue Refunding Bonds, Series 2000B,  12/10 at 100.00  AA (4)  23,379,974 
  5.250%, 12/01/30 (Pre-refunded 12/01/10) – FGIC Insured       
4,735  Houston, Texas, Subordinate Lien Airport System Revenue Bonds, Series 2000A, 5.625%, 7/01/30 –  7/10 at 100.00  AAA  4,743,286 
  AGM Insured (Alternative Minimum Tax)       
6,000  Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation  8/14 at 33.33  AAA  1,589,700 
  Bonds, Series 2006, 0.000%, 8/15/34       
17,655  Matagorda County Navigation District 1, Texas, Revenue Refunding Bonds, Houston Industries  5/10 at 101.00  16,935,206 
  Inc., Series 1998B, 5.150%, 11/01/29 – NPFG Insured       
7,650  Port of Corpus Christi Authority, Nueces County, Texas, Revenue Refunding Bonds, Union Pacific  5/10 at 100.00  BBB  7,652,984 
  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  BBB  2,044,460 
  2002A, 5.750%, 10/01/21 – RAAI Insured       
11,300  San Antonio, Texas, Electric and Gas System Revenue Refunding Bonds, New Series 1992, 5.000%,  No Opt. Call  AAA  12,533,847 
  2/01/17 (ETM)       
3,750  Spring Branch Independent School District, Harris County, Texas, Limited Tax Schoolhouse and  2/11 at 100.00  AAA  3,927,413 
  Refunding Bonds, Series 2001, 5.125%, 2/01/23 (Pre-refunded 2/01/11)       
4,375  Tarrant County Cultural & Educational Facilities Financing Corporation, Texas, Revenue Bonds,  11/17 at 100.00  AA–  4,086,600 
  Tarrant County Health Resources, Series 2008, Trust 1197, 9.305%, 11/15/47 (IF)       
  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  1,991,628 
9,110  0.000%, 8/15/39  8/15 at 28.63  AAA  1,880,213 
6,610  0.000%, 8/15/42  8/15 at 24.42  AAA  1,145,116 
7,110  0.000%, 8/15/43  8/15 at 23.12  AAA  1,158,788 
5,000  Wichita Falls, Wichita County, Texas, Priority Lien Water and Sewerage System Revenue Bonds,  8/11 at 100.00  AA– (4)  5,333,750 
  Series 2001, 5.000%, 8/01/22 (Pre-refunded 8/01/11) – AMBAC Insured       
162,200  Total Texas      116,856,005 
  Utah – 1.7% (1.1% of Total Investments)      
5,800  Carbon County, Utah, Solid Waste Disposal Revenue Refunding Bonds, Laidlaw/ECDC Project,  No Opt. Call  BBB  5,801,334 
  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  7,567,772 
  5.000%, 4/01/25 – AGM Insured (UB)       
12,955  Total Utah      13,369,106 
  Virginia – 3.2% (2.1% of Total Investments)      
11,000  Metropolitan Washington DC Airports Authority, Virginia, Dulles Toll Raod Revenue Bonds,  10/26 at 100.00  AAA  7,744,000 
  Series 2009C., 0.000%, 10/01/41 – AGC Insured       
4,000  Norfolk Airport Authority, Virginia, Airport Revenue Refunding Bonds, Series 2001B, 5.125%,  7/11 at 100.00  3,807,560 
  7/01/31 – FGIC Insured (Alternative Minimum Tax)       
11,040  Suffolk Redevelopment and Housing Authority, Virginia, FNMA Multifamily Housing Revenue  No Opt. Call  Aaa  11,562,854 
  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  5/10 at 100.50  AA+  671,883 
  (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  544,590 
500  5.000%, 4/01/19  4/12 at 102.00  AA  540,780 
27,705  Total Virginia      24,871,667 
  Washington – 10.5% (6.8% of Total Investments)      
6,750  Energy Northwest, Washington, Electric Revenue Refunding Bonds, Columbia Generating Station –  7/12 at 100.00  AAA  7,302,623 
  Nuclear Project 2, Series 2002B, 5.350%, 7/01/18 – AGM Insured       
2,500  Energy Northwest, Washington, Electric Revenue Refunding Bonds, Columbia Generating Station –  7/12 at 100.00  Aaa  2,756,825 
  Nuclear Project 2, Series 2002C, 5.750%, 7/01/17 – NPFG Insured       
3,750  FYI Properties, Washington, Lease Revenue Bonds, Washington State Department of Information  6/19 at 100.00  AA  3,939,675 
  Services Project, Series 2009, 5.500%, 6/01/39       
6,950  Port of Seattle, Washington, Revenue Bonds, Series 2000B, 5.625%, 2/01/24 – NPFG  8/10 at 100.00  AA–  6,972,101 
  Insured (Alternative Minimum Tax) (UB)       
13,400  Seattle, Washington, Municipal Light and Power Revenue Bonds, Series 2000, 5.400%, 12/01/25  12/10 at 100.00  Aa2  13,835,902 
5,000  Washington State Healthcare Facilities Authority, Revenue Bonds, Providence Health Care  10/16 at 100.00  AA  4,852,850 
  Services, Series 2006A, 4.625%, 10/01/34 – FGIC Insured (UB)       
7,325  Washington State Tobacco Settlement Authority, Tobacco Settlement Asset-Backed Revenue Bonds,  6/13 at 100.00  BBB  7,576,541 
  Series 2002, 6.500%, 6/01/26       
18,145  Washington, General Obligation Bonds, Series 2001-02A, 5.000%, 7/01/23 – AGM Insured  7/11 at 100.00  AAA  19,008,883 
  Washington, Motor Vehicle Fuel Tax General Obligation Bonds, Series 2002C:       
7,000  5.000%, 1/01/21 – AGM Insured  1/12 at 100.00  AAA  7,439,040 
7,960  5.000%, 1/01/22 – AGM Insured  1/12 at 100.00  AAA  8,188,134 
78,780  Total Washington      81,872,574 
  Wisconsin – 2.1% (1.4% of Total Investments)      
  Badger Tobacco Asset Securitization Corporation, Wisconsin, Tobacco Settlement Asset-Backed       
  Bonds, Series 2002:       
130  6.125%, 6/01/27 (Pre-refunded 6/01/12)  6/12 at 100.00  AAA  140,547 
3,380  6.375%, 6/01/32 (Pre-refunded 6/01/12)  6/12 at 100.00  AAA  3,804,596 
7,545  La Crosse, Wisconsin, Pollution Control Revenue Refunding Bonds, Dairyland Power Cooperative,  12/10 at 100.00  A3  7,830,352 
  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+  2,934,810 
  Series 2004, 5.750%, 5/01/29       
2,100  Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan  8/13 at 100.00  BBB+  1,829,310 
  Services Inc., Series 2003A, 5.125%, 8/15/33       
16,155  Total Wisconsin      16,539,615 
  Wyoming – 0.9% (0.5% of Total Investments)      
2,035  Campbell County, Wyoming Solid Waste Facilities Revenue Bonds, Basin Electric Power  7/19 at 100.00  A+  2,147,313 
  Cooperative – Dry Fork Station Facilities, Series 2009A, 5.750%, 7/15/39       
4,000  Wyoming Municipal Power Agency Power Supply System Revenue Bonds, 2008 Series A,  1/18 at 100.00  A2  4,104,840 
  5.375%, 1/01/42       
6,035  Total Wyoming      6,252,153 
$    1,577,665  Total Investments (cost $1,181,741,975) – 155.4%      1,210,704,941 
  Floating Rate Obligations – (8.5)%      (66,620,000)
  Other Assets Less Liabilities – 2.7%      22,012,920 
  Preferred Shares, at Liquidation Value – (49.6)% (5)      (386,875,000)
  Net Assets Applicable to Common Shares – 100%      $ 779,222,861 


 

 
Fair Value Measurements
 
In determining the value of the Fund’s investments, various inputs are used. These inputs are summarized in the three broad levels listed below:
 
  Level 1 – Quoted prices in active markets for identical securities.
 
  Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
  Level 3 – Significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
 
The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of January 31, 2010:
 
  Level 1 Level 2 Level 3 Total
Investments:         
Municipal Bonds  $ —  $1,210,704,941  $ —  $1,210,704,941 

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, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
 
At January 31, 2010, the cost of investments was $1,123,862,169.
 
Gross unrealized appreciation and gross unrealized depreciation of investments at January 31, 2010, were as follows:
 
Gross unrealized:   
  Appreciation  $ 65,206,650 
  Depreciation  (44,978,760)
Net unrealized appreciation (depreciation) of investments  $ 20,227,890 

(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 Group (“Standard & Poor’s”) or Moody’s Investor Service, 
  Inc. (“Moody’s”) rating. Ratings below BBB by Standard & Poor’s or Baa by Moody’s 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)  Preferred Shares, at Liquidation Value as a percentage of Total Investments is 32.0%. 
N/R  Not rated. 
WI/DD  Purchased on a when-issued or delayed delivery basis. 
(ETM)  Escrowed to maturity. 
(IF)  Inverse floating rate investment. 
(UB)  Underlying bond of an inverse floating rate trust reflected as a financing transaction. 


 

Item 2. Controls and Procedures.

a.  
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)).
 
 
b.  
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: See 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/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date         April 1, 2010        
 
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         April 1, 2010        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date        April 1, 2010