0000891804-12-001251.txt : 20120928 0000891804-12-001251.hdr.sgml : 20120928 20120928160224 ACCESSION NUMBER: 0000891804-12-001251 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120731 FILED AS OF DATE: 20120928 DATE AS OF CHANGE: 20120928 EFFECTIVENESS DATE: 20120928 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NUVEEN PREMIER MUNICIPAL INCOME FUND INC CENTRAL INDEX KEY: 0000880845 IRS NUMBER: 363792252 FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-06456 FILM NUMBER: 121116689 BUSINESS ADDRESS: STREET 1: 333 WEST WACKER DR CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3129178200 N-Q 1 nq2.htm NPF_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 811-6456
 
Nuveen Premier Municipal Income 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:         7/31/12         
 
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 Premier Municipal Income Fund, Inc. (NPF) 
     
   
July 31, 2012 
     
           
Principal 
   
Optional Call 
   
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
   
Alabama – 1.6% (1.0% of Total Investments) 
     
$      2,010 
 
Alabama Special Care Facilities Financing Authority, Revenue Bonds, Ascension Health, Series 
11/16 at 100.00 
AA+ 
$      2,136,007 
   
2006C-2, 5.000%, 11/15/39 
     
   
Birmingham Special Care Facilities Financing Authority, Alabama, Revenue Bonds, Baptist Health 
     
   
System Inc., Series 2005A: 
     
1,200 
 
5.250%, 11/15/20 
11/15 at 100.00 
Baa2 
1,256,280 
400 
 
5.000%, 11/15/30 
11/15 at 100.00 
Baa2 
403,952 
1,000 
 
Montgomery BMC Special Care Facilities Financing Authority, Alabama, Revenue Bonds, Baptist 
11/14 at 100.00 
A3 (4) 
1,109,660 
   
Medical Center, Series 2004C, 5.250%, 11/15/29 (Pre-refunded 11/15/14) 
     
4,610 
 
Total Alabama 
   
4,905,899 
   
Alaska – 0.2% (0.2% of Total Investments) 
     
1,000 
 
Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, 
6/14 at 100.00 
B+ 
788,880 
   
Series 2006A, 5.000%, 6/01/46 
     
   
Arizona – 5.7% (3.7% of Total Investments) 
     
2,335 
 
Arizona Sports and Tourism Authority, Senior Revenue Refunding Bonds, Multipurpose Stadium 
7/22 at 100.00 
A1 
2,571,746 
   
Facility Project, Series 2012A, 5.000%, 7/01/36 
     
   
Glendale Industrial Development Authority, Arizona, Revenue Bonds, John C. Lincoln Health 
     
   
Network, Series 2005B: 
     
100 
 
5.250%, 12/01/24 
12/15 at 100.00 
BBB+ 
104,647 
135 
 
5.250%, 12/01/25 
12/15 at 100.00 
BBB+ 
140,935 
7,000 
 
Phoenix, Arizona, Civic Improvement Revenue Bonds, Civic Plaza, Series 2005B, 0.000%, 7/01/39 – 
No Opt. Call 
AA 
8,492,750 
   
FGIC Insured 
     
5,000 
 
Salt River Project Agricultural Improvement and Power District, Arizona, Electric System 
1/13 at 100.00 
Aa1 (4) 
5,100,850 
   
Revenue Bonds, Series 2002B, 5.000%, 1/01/25 (Pre-refunded 1/01/13) 
     
1,200 
 
Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc 
No Opt. Call 
A– 
1,247,460 
   
Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37 
     
15,770 
 
Total Arizona 
   
17,658,388 
   
Arkansas – 0.8% (0.5% of Total Investments) 
     
2,155 
 
Arkansas Development Finance Authority, State Facility Revenue Bonds, Department of Correction 
11/15 at 100.00 
AA– 
2,386,447 
   
Special Needs Unit Project, Series 2005B, 5.000%, 11/01/25 – AGM Insured 
     
   
California – 17.9% (11.6% of Total Investments) 
     
3,000 
 
Anaheim Public Finance Authority, California, Senior Lease Bonds, Public Improvement Project, 
9/17 at 100.00 
A1 
3,060,180 
   
Refunding Series 2007A-1, 4.375%, 3/01/37 – FGIC Insured 
     
1,350 
 
California Educational Facilities Authority, Revenue Bonds, University of Southern California, 
10/15 at 100.00 
Aa1 
1,437,008 
   
Series 2005, 4.750%, 10/01/28 
     
1,975 
 
California Health Facilities Financing Authority, Revenue Bonds, Catholic Healthcare West, 
No Opt. Call 
A+ 
2,112,361 
   
Series 2004I, 4.950%, 7/01/26 (Mandatory put 7/01/14) 
     
1,700 
 
California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, 
10/19 at 100.00 
AA 
1,944,460 
   
Series 2009B, 5.500%, 10/01/39 
     
4,900 
 
California State, General Obligation Bonds, Series 2004, 5.000%, 6/01/23 – AMBAC Insured 
12/14 at 100.00 
A1 
5,338,256 
500 
 
California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity 
7/15 at 100.00 
BBB 
508,180 
   
Health System, Series 2005A, 5.000%, 7/01/39 
     
1,600 
 
California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, 
8/16 at 100.00 
A+ 
1,784,256 
   
Series 2001C, 5.250%, 8/01/31 
     
1,025 
 
California Statewide Community Development Authority, Revenue Bonds, Sutter Health, Tender 
No Opt. Call 
AA– 
1,438,003 
   
Option Bond Trust 3175, 13.551%, 5/15/14 (IF) 
     
1,000 
 
Chula Vista, California, Industrial Development Revenue Bonds, San Diego Gas and Electric 
6/14 at 102.00 
A+ 
1,063,030 
   
Company, Series 1996A, 5.300%, 7/01/21 
     
5,045 
 
Culver City Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment 
11/21 at 61.42 
A
1,783,912 
   
Project, Capital Appreciation Series 2011A, 0.000%, 11/01/27 
     
25,000 
 
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Series 
No Opt. Call 
Aaa 
24,107,250 
   
1995A, 0.000%, 1/01/17 (ETM) 
     
450 
 
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed 
6/13 at 100.00 
Aaa 
474,588 
   
Bonds, Series 2003A-1, 6.750%, 6/01/39 (Pre-refunded 6/01/13) 
     
3,500 
 
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed 
6/17 at 100.00 
BB– 
2,676,695 
   
Bonds, Series 2007A-1, 5.125%, 6/01/47 
     
6,005 
 
Los Angeles Unified School District, California, General Obligation Bonds, Series 2005E, 
7/15 at 100.00 
Aa2 (4) 
6,798,617 
   
5.000%, 7/01/22 (Pre-refunded 7/01/15) – AMBAC Insured 
     
4,615 
 
Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project 
No Opt. Call 
A– 
826,916 
   
Area, Series 2011B, 0.000%, 10/01/38 
     
   
San Diego County, California, Certificates of Participation, Burnham Institute, Series 2006: 
     
100 
 
5.000%, 9/01/21 
9/15 at 102.00 
Baa3 
105,118 
110 
 
5.000%, 9/01/23 
9/15 at 102.00 
Baa3 
113,885 
61,875 
 
Total California 
   
55,572,715 
   
Colorado – 8.6% (5.6% of Total Investments) 
     
1,000 
 
Colorado Health Facilities Authority, Revenue Bonds, Evangelical Lutheran Good Samaritan 
6/16 at 100.00 
A– 
1,036,060 
   
Society, Series 2005, 5.000%, 6/01/29 
     
1,150 
 
Colorado Health Facilities Authority, Revenue Bonds, Parkview Medical Center, Series 2004, 
9/14 at 100.00 
A3 
1,168,665 
   
5.000%, 9/01/25 
     
400 
 
Colorado Health Facilities Authority, Revenue Bonds, Poudre Valley Health Care, Series 2005F, 
3/15 at 100.00 
A
415,056 
   
5.000%, 3/01/25 
     
750 
 
Colorado Health Facilities Authority, Revenue Bonds, Vail Valley Medical Center, Series 2004, 
1/15 at 100.00 
A– 
795,518 
   
5.000%, 1/15/17 
     
   
Denver City and County, Colorado, Airport Revenue Bonds, Series 2006: 
     
4,060 
 
5.000%, 11/15/23 – FGIC Insured 
11/16 at 100.00 
A+ 
4,638,753 
6,800 
 
5.000%, 11/15/24 – FGIC Insured 
11/16 at 100.00 
A+ 
7,720,924 
8,940 
 
5.000%, 11/15/25 – FGIC Insured 
11/16 at 100.00 
A+ 
10,150,744 
660 
 
Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue 
12/20 at 100.00 
AA– 
774,094 
   
Refunding Bonds, Series 2011, 6.125%, 12/01/41 – AGM Insured 
     
23,760 
 
Total Colorado 
   
26,699,814 
   
Florida – 1.9% (1.2% of Total Investments) 
     
2,500 
 
Hillsborough County Industrial Development Authority, Florida, Pollution Control Revenue 
10/12 at 100.00 
A3 
2,515,100 
   
Bonds, Tampa Electric Company Project, Series 2002, 5.100%, 10/01/13 
     
105 
 
Marion County Hospital District, Florida, Revenue Bonds, Munroe Regional Medical Center, 
10/17 at 100.00 
A3 
109,081 
   
Series 2007, 5.000%, 10/01/34 
     
1,000 
 
South Miami Health Facilities Authority, Florida, Hospital Revenue, Baptist Health System 
8/17 at 100.00 
AA 
1,070,880 
   
Obligation Group, Series 2007, 5.000%, 8/15/42 
     
2,150 
 
Sumter County, Florida, Capital Improvement Revenue Bonds, Series 2006, 5.000%, 6/01/30 - 
6/16 at 100.00 
A
2,266,616 
   
AMBAC Insured 
     
5,755 
 
Total Florida 
   
5,961,677 
   
Georgia – 2.7% (1.8% of Total Investments) 
     
   
Coffee County Hospital Authority, Georgia, Revenue Bonds, Coffee County Regional Medical 
     
   
Center, Series 2004: 
     
500 
 
5.000%, 12/01/19 
12/14 at 100.00 
BBB– 
509,110 
1,000 
 
5.250%, 12/01/22 
12/14 at 100.00 
BBB– 
1,019,040 
1,000 
 
Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2006B, 5.000%, 3/15/20 
No Opt. Call 
A
1,057,870 
4,105 
 
Municipal Electric Authority of Georgia, Combustion Turbine Revenue Bonds, Series 2003A, 
11/13 at 100.00 
A1 
4,311,440 
   
5.125%, 11/01/17 – NPFG Insured 
     
1,425 
 
Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia 
10/21 at 100.00 
Aa2 
1,587,179 
   
Medical Center Project, Series 2011B, 5.000%, 10/01/41 
     
8,030 
 
Total Georgia 
   
8,484,639 
   
Idaho – 0.3% (0.2% of Total Investments) 
     
15 
 
Idaho Housing and Finance Association, Single Family Mortgage Bonds, Series 1996E, 6.350%, 
1/13 at 100.00 
AAA 
15,047 
   
7/01/14 (Alternative Minimum Tax) 
     
310 
 
Idaho Water Resource Board, Water Resource Loan Program Revenue, Ground Water Rights 
9/22 at 100.00 
Baa1 
337,788 
   
Mittigation Series 2012A, 5.000%, 9/01/32 
     
   
Madison County, Idaho, Hospital Revenue Certificates of Participation, Madison Memorial 
     
   
Hospital, Series 2006: 
     
500 
 
5.250%, 9/01/26 
9/16 at 100.00 
BB+ 
513,450 
200 
 
5.250%, 9/01/37 
9/16 at 100.00 
BB+ 
202,222 
1,025 
 
Total Idaho 
   
1,068,507 
   
Illinois – 17.9% (11.6% of Total Investments) 
     
3,000 
 
Bensenville, Illinois, General Obligation Bonds, Series 2011A, 5.000%, 12/15/30 – AGM Insured 
12/21 at 100.00 
AA– 
3,335,250 
320 
 
Chicago Public Building Commission, Illinois, General Obligation Lease Certificates, Chicago 
No Opt. Call 
BBB (4) 
347,731 
   
Board of Education, Series 1990B, 7.000%, 1/01/15 – NPFG Insured (ETM) 
     
4,100 
 
Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2011, 5.250%, 12/01/40 
12/21 at 100.00 
AA 
4,686,218 
8,670 
 
Chicago, Illinois, General Obligation Bonds, City Colleges, Series 1999, 0.000%, 1/01/24 – 
No Opt. Call 
Aa3 
5,569,088 
   
FGIC Insured 
     
5,000 
 
Chicago, Illinois, Motor Fuel Tax Revenue Bonds, Series 2003A, 5.000%, 1/01/33 – AMBAC Insured 
7/13 at 100.00 
AA+ 
5,069,400 
2,000 
 
Chicago, Illinois, Revenue Bonds, Midway Airport, Series 1996A, 5.500%, 1/01/29 – NPFG Insured 
1/13 at 100.00 
A
2,006,380 
785 
 
Chicago, Illinois, Revenue Bonds, Midway Airport, Series 1998B, 5.000%, 1/01/35 – NPFG Insured 
1/13 at 100.00 
A
787,159 
6,410 
 
Chicago, Illinois, Second Lien Wastewater Transmission Revenue Bonds, Series 2001A, 5.500%, 
No Opt. Call 
Aa3 
7,886,095 
   
1/01/30 – NPFG Insured 
     
8,500 
 
Chicago, Illinois, Senior Lien Water Revenue Bonds, Series 2001, 5.750%, 11/01/30 – AMBAC 
No Opt. Call 
Aa3 
10,758,960 
   
Insured (UB) (6) 
     
200 
 
Illinois Finance Authority, Revenue Bonds, Proctor Hospital, Series 2006, 5.125%, 1/01/25 
1/16 at 100.00 
BB+ 
187,822 
   
Lombard Public Facilities Corporation, Illinois, Second Tier Conference Center and Hotel 
     
   
Revenue Bonds, Series 2005B: 
     
850 
 
5.250%, 1/01/25 
1/16 at 100.00 
CCC 
458,830 
1,750 
 
5.250%, 1/01/30 
1/16 at 100.00 
CCC 
937,108 
   
Metropolitan Pier and Exposition Authority, Illinois, Revenue Refunding Bonds, McCormick Place 
     
   
Expansion Project, Series 1996A: 
     
10,575 
 
0.000%, 12/15/23 – NPFG Insured 
No Opt. Call 
AA– 
6,883,056 
10,775 
 
0.000%, 12/15/24 – NPFG Insured 
No Opt. Call 
AA– 
6,638,801 
62,935 
 
Total Illinois 
   
55,551,898 
   
Indiana – 3.2% (2.1% of Total Investments) 
     
2,275 
 
Anderson School Building Corporation, Madison County, Indiana, First Mortgage Bonds, Series 
1/14 at 100.00 
AA+ (4) 
2,445,329 
   
2003, 5.500%, 7/15/23 (Pre-refunded 1/15/14) – AGM Insured 
     
6,180 
 
Crown Point Multi-School Building Corporation, Indiana, First Mortgage Bonds, Crown Point 
No Opt. Call 
A
4,269,762 
   
Community School Corporation, Series 2000, 0.000%, 1/15/23 – NPFG Insured 
     
1,250 
 
Portage, Indiana, Revenue Bonds, Series 2006, 5.000%, 7/15/23 
7/16 at 100.00 
A
1,308,325 
1,700 
 
Saint Joseph County, Indiana, Educational Facilities Revenue Bonds, University of Notre Dame 
3/18 at 100.00 
Aaa 
1,945,412 
   
du Lac Project, Refunding Series 2009, 5.000%, 3/01/36 
     
1,000 
 
St. Joseph County Hospital Authority, Indiana, Revenue Bonds, Madison Center Inc., Series 
2/15 at 100.00 
N/R 
142,510 
   
2005, 5.250%, 2/15/28 (5) 
     
12,405 
 
Total Indiana 
   
10,111,338 
   
Iowa – 1.1% (0.7% of Total Investments) 
     
4,000 
 
Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C, 
6/15 at 100.00 
B+ 
3,566,600 
   
5.500%, 6/01/42 
     
   
Kentucky – 0.8% (0.5% of Total Investments) 
     
1,700 
 
Kentucky Economic Development Finance Authority, Hospital Facilities Revenue Bonds, Owensboro 
6/20 at 100.00 
BBB+ 
2,019,124 
   
Medical Health System, Series 2010A, 6.500%, 3/01/45 
     
510 
 
Louisville and Jefferson County Metropolitan Government, Kentucky, Industrial Building Revenue 
10/16 at 100.00 
A+ 
533,654 
   
Bonds, Sisters of Mercy of the Americas, Series 2006, 5.000%, 10/01/35 
     
2,210 
 
Total Kentucky 
   
2,552,778 
   
Louisiana – 6.4% (4.1% of Total Investments) 
     
1,310 
 
Louisiana Housing Finance Agency, GNMA Collateralized Mortgage Revenue Bonds, St. Dominic 
9/12 at 100.00 
AA+ 
1,313,786 
   
Assisted Care Facility, Series 1995, 6.850%, 9/01/25 
     
1,500 
 
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, 
5/17 at 100.00 
Baa1 
1,565,310 
   
Series 2007A, 5.500%, 5/15/47 
     
   
Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2006A: 
     
825 
 
4.750%, 5/01/39 – AGM Insured (UB) 
5/16 at 100.00 
Aa1 
885,753 
8,880 
 
4.500%, 5/01/41 – FGIC Insured (UB) 
5/16 at 100.00 
Aa1 
9,299,224 
5
 
Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2006A, Trust 660, 15.803%, 
5/16 at 100.00 
Aa1 
5,942 
   
5/01/34 – FGIC Insured (IF) 
     
3,950 
 
Morehouse Parish, Louisiana, Pollution Control Revenue Bonds, International Paper Company, 
No Opt. Call 
BBB 
4,239,970 
   
Series 2002A, 5.700%, 4/01/14 
     
385 
 
Saint Charles Parish, Louisiana, Gulf Opportunity Zone Revenue Bonds, Valero Project, Series 
No Opt. Call 
BBB 
408,624 
   
2010, 4.000%, 12/01/40 (Mandatory put 6/01/22) 
     
2,090 
 
Tobacco Settlement Financing Corporation, Louisiana, Tobacco Settlement Asset-Backed Bonds, 
11/12 at 100.00 
A– 
2,131,779 
   
Series 2001B, 5.875%, 5/15/39 
     
18,945 
 
Total Louisiana 
   
19,850,388 
   
Maine – 0.2% (0.1% of Total Investments) 
     
550 
 
Maine State Housing Authority, Single Family Mortgage Purchase Bonds, Series 2004A-2, 5.000%, 
5/13 at 100.00 
AA+ 
555,781 
   
11/15/21 (Alternative Minimum Tax) 
     
   
Maryland – 1.2% (0.8% of Total Investments) 
     
2,000 
 
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, MedStar Health, 
8/14 at 100.00 
A2 
2,134,520 
   
Series 2004, 5.375%, 8/15/24 
     
1,500 
 
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Western Maryland 
7/16 at 100.00 
BBB 
1,563,285 
   
Health, Series 2006A, 4.750%, 7/01/36 – NPFG Insured 
     
3,500 
 
Total Maryland 
   
3,697,805 
   
Massachusetts – 4.0% (2.6% of Total Investments) 
     
7,500 
 
Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, Senior 
1/20 at 100.00 
A+ 
8,309,100 
   
Lien Series 2010B, 5.000%, 1/01/37 
     
1,000 
 
Massachusetts Development Finance Authority, Revenue Bonds, Hampshire College, Series 2004, 
10/14 at 100.00 
BBB 
1,037,980 
   
5.625%, 10/01/24 
     
3,000 
 
Massachusetts State, Special Obligation Dedicated Tax Revenue Bonds, Series 2004, 5.250%, 
1/14 at 100.00 
A1 (4) 
3,210,420 
   
1/01/24 (Pre-refunded 1/01/14) – FGIC Insured 
     
11,500 
 
Total Massachusetts 
   
12,557,500 
   
Michigan – 7.1% (4.6% of Total Investments) 
     
2,925 
 
Detroit, Michigan, General Obligation Bonds, Series 2003A, 5.250%, 4/01/17 – SYNCORA 
4/13 at 100.00 
B
2,749,208 
   
GTY Insured 
     
4,600 
 
Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2006B, 4.625%, 
7/16 at 100.00 
A
4,587,258 
   
7/01/34 – FGIC Insured 
     
5,000 
 
Detroit, Michigan, Water Supply System Revenue Bonds, Senior Lien Series 2011A, 5.250%, 7/01/41 
7/21 at 100.00 
A+ 
5,255,850 
3,000 
 
Detroit-Wayne County Stadium Authority, Michigan, Limited Tax General Obligation Building 
2/13 at 100.00 
BBB+ 
3,003,030 
   
Authority Stadium Bonds, Series 1997, 5.250%, 2/01/27 – FGIC Insured 
     
815 
 
Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Series 
12/16 at 100.00 
AA 
878,505 
   
2006A, 5.000%, 12/01/31 
     
185 
 
Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Series 
12/16 at 100.00 
Aa2 (4) 
219,207 
   
2006A, 5.000%, 12/01/31 (Pre-refunded 12/01/16) 
     
2,000 
 
Michigan Tobacco Settlement Finance Authority, Tobacco Settlement Asset-Backed Revenue Bonds, 
6/18 at 100.00 
BB– 
2,004,020 
   
Series 2008A, 6.875%, 6/01/42 
     
170 
 
Monroe County Hospital Finance Authority, Michigan, Mercy Memorial Hospital Corporation 
6/16 at 100.00 
BBB 
176,854 
   
Revenue Bonds, Series 2006, 5.500%, 6/01/35 
     
290 
 
Wayne County, Michigan, Airport Revenue Refunding Bonds, Detroit Metropolitan Airport, Series 
12/12 at 100.00 
A2 
293,761 
   
2002C, 5.375%, 12/01/19 – FGIC Insured 
     
2,735 
 
Wayne County, Michigan, Airport Revenue Refunding Bonds, Detroit Metropolitan Airport, Series 
12/12 at 100.00 
A2 (4) 
2,779,745 
   
2002C, 5.375%, 12/01/19 (Pre-refunded 12/01/12) – FGIC Insured 
     
21,720 
 
Total Michigan 
   
21,947,438 
   
Minnesota – 5.1% (3.3% of Total Investments) 
     
4,350 
 
Cohasset, Minnesota, Pollution Control Revenue Bonds, Allete Inc., Series 2004, 4.950%, 7/01/22 
7/14 at 100.00 
A2 
4,525,218 
1,000 
 
Duluth Economic Development Authority, Minnesota, Healthcare Facilities Revenue Bonds, 
2/14 at 100.00 
N/R (4) 
1,075,180 
   
Benedictine Health System – St. Mary’s Duluth Clinic, Series 2004, 5.250%, 2/15/21 
     
   
(Pre-refunded 2/15/14) 
     
2,290 
 
Minneapolis-St. Paul Housing and Redevelopment Authority, Minnesota, Revenue Bonds, 
12/13 at 100.00 
A3 
2,407,088 
   
HealthPartners Inc., Series 2003, 6.000%, 12/01/20 
     
530 
 
Minnesota Higher Education Facilities Authority, Revenue Bonds, University of St. Thomas, 
10/14 at 100.00 
A2 
570,704 
   
Series 2004-5Y, 5.250%, 10/01/19 
     
1,000 
 
Minnesota Municipal Power Agency, Electric Revenue Bonds, Series 2004A, 5.250%, 10/01/19 
10/14 at 100.00 
A3 
1,088,150 
1,000 
 
Minnesota State, General Obligation Bonds, Various Purpose, Refunding Series 2010D, 
No Opt. Call 
AA+ 
1,237,570 
   
5.000%, 8/01/18 
     
3,000 
 
St. Paul Port Authority, Minnesota, Lease Revenue Bonds, Office Building at Cedar Street, 
12/13 at 100.00 
AA 
3,181,680 
   
Series 2003, 5.250%, 12/01/20 
     
1,500 
 
Tobacco Securitization Authority, Minnesota, Tobacco Settlement Revenue Bonds, Tax-Exempt 
3/22 at 100.00 
A– 
1,690,635 
   
Series 2011B, 5.250%, 3/01/31 
     
14,670 
 
Total Minnesota 
   
15,776,225 
   
Mississippi – 0.8% (0.5% of Total Investments) 
     
2,325 
 
Mississippi Hospital Equipment and Facilities Authority, Revenue Bonds, Baptist Memorial 
9/14 at 100.00 
AA 
2,431,857 
   
Healthcare, Series 2004B-1, 5.000%, 9/01/24 
     
   
Missouri – 1.0% (0.7% of Total Investments) 
     
100 
 
Hannibal Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Hannibal 
3/16 at 100.00 
BBB+ 
104,380 
   
Regional Hospital, Series 2006, 5.000%, 3/01/22 
     
2,880 
 
Joplin Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Freeman 
2/15 at 102.00 
BBB+ 
3,043,238 
   
Health System, Series 2004, 5.500%, 2/15/24 
     
2,980 
 
Total Missouri 
   
3,147,618 
   
Nebraska – 1.0% (0.7% of Total Investments) 
     
1,580 
 
Douglas County Hospital Authority 2, Nebraska, Health Facilities Revenue Bonds, Nebraska 
No Opt. Call 
Aa3 
1,817,932 
   
Medical Center, Series 2003, 5.000%, 11/15/16 
     
390 
 
Grand Island, Nebraska, Electric System Revenue Bonds, Series 1977, 6.100%, 9/01/12 (ETM) 
8/12 at 100.00 
A1 (4) 
391,907 
515 
 
Omaha Public Power District, Nebraska, Separate Electric System Revenue Bonds, Nebraska City 2, 
2/17 at 100.00 
AA+ 
896,424 
   
Series 2006A, 20.031%, 8/01/40 – AMBAC Insured (IF) 
     
2,485 
 
Total Nebraska 
   
3,106,263 
   
Nevada – 2.2% (1.4% of Total Investments) 
     
4,000 
 
Clark County, Nevada, Airport Revenue Bonds, Subordinate Lien Series 2010B, 5.750%, 7/01/42 
1/20 at 100.00 
A+ 
4,593,160 
2,050 
 
Washoe County, Nevada, General Obligation Bonds, Reno-Sparks Convention & Visitors Authority, 
7/21 at 100.00 
AA 
2,276,259 
   
Refunding Series 2011, 5.000%, 7/01/32 
     
6,050 
 
Total Nevada 
   
6,869,419 
   
New Hampshire – 0.6% (0.4% of Total Investments) 
     
1,110 
 
New Hampshire Health and Education Facilities Authority, Revenue Bonds, Dartmouth College, 
6/19 at 100.00 
AA+ 
1,759,394 
   
Tender Option Bond Trust 09-7W, 14.467%, 6/01/39 (IF) (6) 
     
   
New Jersey – 7.3% (4.7% of Total Investments) 
     
1,000 
 
New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2005P, 
9/15 at 100.00 
A+ 
1,099,470 
   
5.250%, 9/01/24 
     
2,000 
 
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Barnabas Health 
7/21 at 100.00 
BBB 
2,201,480 
   
Care System, Refunding Series 2011A, 5.625%, 7/01/32 
     
1,000 
 
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Capital 
No Opt. Call 
A+ 
565,570 
   
Appreciation Series 2010A, 0.000%, 12/15/26 
     
3,000 
 
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2003C, 
6/13 at 100.00 
Aaa 
3,139,260 
   
5.500%, 6/15/24 (Pre-refunded 6/15/13) 
     
   
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2006C: 
     
25,000 
 
0.000%, 12/15/35 – AMBAC Insured 
No Opt. Call 
A+ 
8,350,750 
10,000 
 
0.000%, 12/15/36 – AMBAC Insured 
No Opt. Call 
A+ 
3,164,500 
1,500 
 
New Jersey Turnpike Authority, Revenue Bonds, Series 2003A, 5.000%, 1/01/19 – FGIC Insured 
7/13 at 100.00 
A+ 
1,559,535 
2,500 
 
New Jersey Turnpike Authority, Revenue Bonds, Series 2005A, 5.000%, 1/01/25 – AGM Insured 
1/15 at 100.00 
AA– 
2,661,075 
46,000 
 
Total New Jersey 
   
22,741,640 
   
New York – 16.7% (10.8% of Total Investments) 
     
   
Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue 
     
   
Bonds, Barclays Center Project, Series 2009: 
     
660 
 
6.000%, 7/15/30 
1/20 at 100.00 
BBB– 
760,426 
1,600 
 
0.000%, 7/15/44 
No Opt. Call 
BBB– 
300,720 
1,500 
 
Dormitory Authority of the State of New York, State and Local Appropriation Lease Bonds, 
7/14 at 100.00 
AA– 
1,609,860 
   
Upstate Community Colleges, Series 2004B, 5.250%, 7/01/19 
     
1,100 
 
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 
2/21 at 100.00 
A
1,291,499 
   
2011A, 5.750%, 2/15/47 
     
2,200 
 
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 4.500%, 
2/17 at 100.00 
A
2,264,086 
   
2/15/47 – NPFG Insured 
     
7,500 
 
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006A, 
6/16 at 100.00 
AA+ 
8,375,775 
   
5.000%, 12/01/25 – FGIC Insured (UB) 
     
5,000 
 
Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds, 
11/12 at 100.00 
A
5,056,750 
   
Series 2002A, 5.125%, 11/15/21 – FGIC Insured 
     
865 
 
New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue 
12/14 at 100.00 
Aa1 (4) 
957,321 
   
Bonds, Fiscal Series 2005B, 5.000%, 6/15/23 (Pre-refunded 12/15/14) – AMBAC Insured 
     
1,135 
 
New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue 
12/14 at 100.00 
AAA 
1,256,082 
   
Bonds, Fiscal Series 2005B, 5.000%, 6/15/23 – AMBAC Insured 
     
   
New York City, New York, General Obligation Bonds, Fiscal Series 2003D: 
     
1,815 
 
5.250%, 10/15/22 (Pre-refunded 10/15/13) 
10/13 at 100.00 
Aa2 (4) 
1,925,769 
2,450 
 
5.250%, 10/15/22 (Pre-refunded 10/15/13) 
10/13 at 100.00 
AA (4) 
2,599,524 
1,050 
 
New York City, New York, General Obligation Bonds, Fiscal Series 2004B, 5.250%, 8/01/15 
8/14 at 100.00 
AA 
1,152,785 
4,000 
 
New York City, New York, General Obligation Bonds, Series 2004C-1, 5.250%, 8/15/20 (UB) 
8/14 at 100.00 
AA 
4,369,320 
910 
 
New York Convention Center Development Corporation, Hotel Unit Fee Revenue Bonds, Series 2005, 
11/15 at 100.00 
AA+ 
1,122,758 
   
Trust 2364, 16.816%, 11/15/44 – AMBAC Insured (IF) 
     
1,560 
 
New York Liberty Development Corporation, Liberty Revenue Bonds, 4 World Trade Center Project, 
11/21 at 100.00 
A+ 
1,735,609 
   
Series 2011, 5.000%, 11/15/44 
     
3,250 
 
New York State Municipal Bond Bank Agency, Special School Purpose Revenue Bonds, Series 2003C, 
6/13 at 100.00 
AA– 
3,378,375 
   
5.250%, 6/01/22 
     
   
New York State Thruway Authority, General Revenue Bonds, Residual Series 2005G: 
     
6,460 
 
5.000%, 1/01/25 – AGM Insured (UB) 
7/15 at 100.00 
AA– 
7,156,582 
2,580 
 
5.000%, 1/01/26 – AGM Insured (UB) 
7/15 at 100.00 
AA– 
2,869,992 
1,850 
 
New York State Urban Development Corporation, Service Contract Revenue Bonds, Series 2005B, 
3/15 at 100.00 
AAA 
2,075,219 
   
5.000%, 3/15/24 – AGM Insured (UB) 
     
1,000 
 
New York State Urban Development Corporation, Subordinate Lien Corporate Purpose Bonds, Series 
7/14 at 100.00 
A
1,059,720 
   
2004A, 5.125%, 1/01/22 
     
395 
 
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air 
12/20 at 100.00 
BBB– 
448,546 
   
Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42 
     
48,880 
 
Total New York 
   
51,766,718 
   
North Carolina – 4.3% (2.8% of Total Investments) 
     
10,300 
 
North Carolina Eastern Municipal Power Agency, Power System Revenue Refunding Bonds, Series 
No Opt. Call 
Baa1 
13,433,672 
   
1993B, 6.000%, 1/01/22 – CAPMAC Insured (UB) (6) 
     
   
North Dakota – 0.2% (0.2% of Total Investments) 
     
675 
 
Burleigh County, North Dakota, Health Care Revenue Refunding Bonds, St. Alexius Medical Center 
7/22 at 100.00 
A– 
723,215 
   
Project, Series 2012A, 5.000%, 7/01/38 
     
   
Ohio – 2.7% (1.8% of Total Investments) 
     
   
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue 
     
   
Bonds, Senior Lien, Series 2007A-2: 
     
1,600 
 
5.125%, 6/01/24 
6/17 at 100.00 
B
1,342,896 
3,410 
 
5.875%, 6/01/47 
6/17 at 100.00 
BB 
2,769,909 
4,000 
 
Ohio, Solid Waste Revenue Bonds, Republic Services Inc., Series 2004, 4.250%, 4/01/33 
No Opt. Call 
BBB 
4,171,080 
   
(Mandatory put 4/01/14) (Alternative Minimum Tax) 
     
250 
 
Port of Greater Cincinnati Development Authority, Ohio, Economic Development Revenue Bonds, 
10/16 at 100.00 
A+ 
261,615 
   
Sisters of Mercy of the Americas, Series 2006, 5.000%, 10/01/25 
     
9,260 
 
Total Ohio 
   
8,545,500 
   
Oklahoma – 1.1% (0.7% of Total Investments) 
     
450 
 
Norman Regional Hospital Authority, Oklahoma, Hospital Revenue Bonds, Series 2005, 
9/16 at 100.00 
BB+ 
459,504 
   
5.375%, 9/01/36 
     
2,705 
 
Tulsa County Industrial Authority, Oklahoma, Health Care Revenue Bonds, Saint Francis Health 
12/16 at 100.00 
AA+ 
2,870,898 
   
System, Series 2006, 5.000%, 12/15/36 
     
3,155 
 
Total Oklahoma 
   
3,330,402 
   
Oregon – 1.1% (0.7% of Total Investments) 
     
   
Oregon State, General Obligation Bonds, State Board of Higher Education, Series 2004A: 
     
1,795 
 
5.000%, 8/01/21 (Pre-refunded 8/01/14) 
8/14 at 100.00 
AA+ (4) 
1,962,527 
1,240 
 
5.000%, 8/01/23 (Pre-refunded 8/01/14) 
8/14 at 100.00 
AA+ (4) 
1,355,729 
3,035 
 
Total Oregon 
   
3,318,256 
   
Pennsylvania – 2.2% (1.4% of Total Investments) 
     
2,000 
 
Allegheny County Sanitary Authority, Pennsylvania, Sewerage Revenue Bonds, Series 2005A, 
12/15 at 100.00 
A1 
2,209,400 
   
5.000%, 12/01/23 – NPFG Insured 
     
4,500 
 
Pennsylvania Turnpike Commission, Turnpike Subordinate Revenue Bonds, Series 2009C, 0.000%, 
6/26 at 100.00 
AA– 
4,655,610 
   
6/01/33 – AGM Insured 
     
6,500 
 
Total Pennsylvania 
   
6,865,010 
   
Puerto Rico – 1.2% (0.8% of Total Investments) 
     
3,000 
 
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 
8/26 at 100.00 
A+ 
3,085,650 
   
2009A, 0.000%, 8/01/32 
     
10,000 
 
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Bonds, Series 2005A, 
5/15 at 11.19 
BB– 
719,000 
   
0.000%, 5/15/50 
     
13,000 
 
Total Puerto Rico 
   
3,804,650 
   
Rhode Island – 1.0% (0.6% of Total Investments) 
     
2,965 
 
Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, 
12/12 at 100.00 
Baa1 
3,024,300 
   
Series 2002A, 6.000%, 6/01/23 
     
   
South Carolina – 7.1% (4.6% of Total Investments) 
     
2,500 
 
Berkeley County School District, South Carolina, Installment Purchase Revenue Bonds, Securing 
12/13 at 100.00 
A1 
2,595,475 
   
Assets for Education, Series 2003, 5.250%, 12/01/24 
     
4,405 
 
Dorchester County School District 2, South Carolina, Installment Purchase Revenue Bonds, 
12/14 at 100.00 
AA– 
4,857,217 
   
GROWTH, Series 2004, 5.250%, 12/01/23 
     
3,340 
 
Greenville County School District, South Carolina, Installment Purchase Revenue Bonds, Series 
12/13 at 100.00 
AA 
3,542,270 
   
2003, 5.250%, 12/01/19 
     
3,620 
 
Greenville, South Carolina, Hospital Facilities Revenue Refunding Bonds, Series 2003A, 5.250%, 
5/13 at 100.00 
AA– 
3,691,857 
   
5/01/21 – AMBAC Insured 
     
310 
 
South Carolina JOBS Economic Development Authority, Economic Development Revenue Bonds, Bon 
11/12 at 100.00 
A3 (4) 
314,914 
   
Secours Health System Inc., Series 2002A, 5.625%, 11/15/30 (Pre-refunded 11/15/12) 
     
1,190 
 
South Carolina JOBS Economic Development Authority, Economic Development Revenue Bonds, Bon 
11/12 at 100.00 
A
1,204,863 
   
Secours Health System Inc., Series 2002B, 5.625%, 11/15/30 
     
   
South Carolina JOBS Economic Development Authority, Hospital Refunding and Improvement Revenue 
     
   
Bonds, Palmetto Health Alliance, Series 2003C: 
     
4,895 
 
6.375%, 8/01/34 (Pre-refunded 8/01/13) 
8/13 at 100.00 
BBB+ (4) 
5,195,553 
605 
 
6.375%, 8/01/34 (Pre-refunded 8/01/13) 
8/13 at 100.00 
BBB+ (4) 
642,147 
20,865 
 
Total South Carolina 
   
22,044,296 
   
South Dakota – 0.6% (0.4% of Total Investments) 
     
1,750 
 
South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sioux Valley 
11/14 at 100.00 
AA– 
1,822,100 
   
Hospitals, Series 2004A, 5.500%, 11/01/31 
     
   
Tennessee – 2.1% (1.3% of Total Investments) 
     
310 
 
Johnson City Health and Educational Facilities Board, Tennessee, Hospital Revenue Refunding 
7/23 at 100.00 
Baa1 (4) 
311,097 
   
and Improvement Bonds, Johnson City Medical Center, Series 1998C, 5.125%, 7/01/25 
     
   
(Pre-refunded 7/01/23) – NPFG Insured 
     
1,600 
 
Johnson City Health and Educational Facilities Board, Tennessee, Revenue Bonds, Mountain 
7/16 at 100.00 
BBB+ 
1,691,792 
   
States Health Alliance, Series 2006A, 5.500%, 7/01/36 
     
400 
 
Sumner County Health, Educational, and Housing Facilities Board, Tennessee, Revenue Refunding 
11/17 at 100.00 
N/R 
7,996 
   
Bonds, Sumner Regional Health System Inc., Series 2007, 5.500%, 11/01/37 (5) 
     
4,000 
 
The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006A, 5.250%, 9/01/26 
No Opt. Call 
A
4,404,600 
6,310 
 
Total Tennessee 
   
6,415,485 
   
Texas – 6.3% (4.1% of Total Investments) 
     
1,075 
 
Brazos River Authority, Texas, Pollution Control Revenue Bonds, TXU Energy Company LLC 
10/13 at 101.00 
CC 
107,618 
   
Project, Series 2003C, 6.750%, 10/01/38 (Alternative Minimum Tax) 
     
4,245 
 
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H, 
No Opt. Call 
BBB 
1,590,389 
   
0.000%, 11/15/29 – NPFG Insured 
     
3,000 
 
Houston, Texas, First Lien Combined Utility System Revenue Bonds, Series 2004A, 5.250%, 
5/14 at 100.00 
AA 
3,221,730 
   
5/15/25 – NPFG Insured 
     
   
Kerrville Health Facilities Development Corporation, Texas, Revenue Bonds, Sid Peterson 
     
   
Memorial Hospital Project, Series 2005: 
     
400 
 
5.250%, 8/15/21 
2/16 at 100.00 
BBB– 
421,252 
600 
 
5.125%, 8/15/26 
2/16 at 100.00 
BBB– 
616,374 
800 
 
Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds, 
11/20 at 100.00 
BBB– 
865,544 
   
Southwest Airlines Company, Series 2010, 5.250%, 11/01/40 
     
2,265 
 
Lower Colorado River Authority, Texas, Contract Revenue Refunding Bonds, Transmission Services 
5/13 at 100.00 
A+ 
2,334,490 
   
Corporation, Series 2003C, 5.250%, 5/15/25 – AMBAC Insured 
     
950 
 
North Texas Tollway Authority, Second Tier System Revenue Refunding Bonds, Series 2008F, 
1/18 at 100.00 
A3 
1,044,525 
   
5.750%, 1/01/38 
     
1,000 
 
Sabine River Authority, Texas, Pollution Control Revenue Bonds, TXU Electric Company, Series 
11/15 at 100.00 
CCC 
87,560 
   
2001C, 5.200%, 5/01/28 
     
125 
 
Tarrant County Cultural and Educational Facilities Finance Corporation, Texas, Revenue Bonds, 
2/17 at 100.00 
AA– 
162,625 
   
Texas Health Resources Project, Trust 1031, 17.550%, 2/15/30 (IF) (6) 
     
3,000 
 
Tarrant County Cultural and Educational Facilities Finance Corporation, Texas, Revenue Bonds, 
2/17 at 100.00 
AA– 
3,225,750 
   
Texas Health Resources, Series 2007A, 5.000%, 2/15/36 (UB) 
     
   
Texas Tech University, Financing System Revenue Bonds, 9th Series 2003: 
     
20 
 
5.250%, 2/15/18 – AMBAC Insured 
8/13 at 100.00 
AA 
20,956 
15 
 
5.250%, 2/15/19 – AMBAC Insured 
8/13 at 100.00 
AA 
15,717 
   
Texas Tech University, Financing System Revenue Bonds, 9th Series 2003: 
     
3,505 
 
5.250%, 2/15/18 (Pre-refunded 8/15/13) – AMBAC Insured 
8/13 at 100.00 
Aa2 (4) 
3,683,510 
2,235 
 
5.250%, 2/15/19 (Pre-refunded 8/15/13) – AMBAC Insured 
8/13 at 100.00 
Aa2 (4) 
2,348,829 
23,235 
 
Total Texas 
   
19,746,869 
   
Utah – 0.1% (0.1% of Total Investments) 
     
275 
 
Utah Housing Corporation, Single Family Mortgage Bonds, Series 2001D, 5.500%, 1/01/21 
1/13 at 100.00 
Aaa 
275,536 
   
(Alternative Minimum Tax) 
     
   
Virginia – 1.5% (1.0% of Total Investments) 
     
1,765 
 
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, 95 Express Lanes LLC 
1/22 at 100.00 
BBB– 
1,865,376 
   
Project, Series 2012, 5.000%, 1/01/40 (Alternative Minimum Tax) 
     
2,520 
 
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River 
7/22 at 100.00 
BBB– 
2,785,532 
   
Crossing, Opco LLC Project, Series 2012, 5.500%, 1/01/42 (Alternative Minimum Tax) 
     
4,285 
 
Total Virginia 
   
4,650,908 
   
Washington – 3.0% (2.0% of Total Investments) 
     
7,000 
 
Energy Northwest, Washington, Electric Revenue Refunding Bonds, Nuclear Project 1, Series 
7/13 at 100.00 
Aa1 (4) 
7,339,920 
   
2003A, 5.500%, 7/01/16 (Pre-refunded 7/01/13) 
     
1,000 
 
Skagit County Public Hospital District 1, Washington, Revenue Bonds, Skagit Valley Hospital, 
12/13 at 100.00 
Baa2 
1,030,120 
   
Series 2003, 6.000%, 12/01/23 
     
1,000 
 
Washington Health Care Facilities Authority, Revenue Bonds, Seattle Children’s Hospital, 
No Opt. Call 
AA 
1,107,040 
   
Series 2012A, 5.000%, 10/01/42 
     
9,000 
 
Total Washington 
   
9,477,080 
   
West Virginia – 1.4% (0.9% of Total Investments) 
     
2,000 
 
West Virginia Water Development Authority, Infrastructure Revenue Bonds, Series 2003A, 5.500%, 
10/13 at 101.00 
AA+ (4) 
2,143,540 
   
10/01/23 (Pre-refunded 10/01/13) – AMBAC Insured 
     
2,150 
 
West Virginia Water Development Authority, Loan Program II Revenue Bonds, Series 2003B, 
11/13 at 101.00 
A
2,245,718 
   
5.250%, 11/01/23 – AMBAC Insured 
     
4,150 
 
Total West Virginia 
   
4,389,258 
   
Wisconsin – 1.4% (0.9% of Total Investments) 
     
160 
 
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Divine Savior 
5/16 at 100.00 
BBB 
163,302 
   
Healthcare, Series 2006, 5.000%, 5/01/32 
     
1,000 
 
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Fort Healthcare Inc., 
5/14 at 100.00 
BBB+ 
1,048,450 
   
Series 2004, 5.375%, 5/01/18 
     
205 
 
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Froedtert and Community 
10/12 at 100.00 
AA– 
205,736 
   
Health Obligated Group, Series 2001, 5.375%, 10/01/30 
     
2,500 
 
Wisconsin State, General Obligation Bonds, Series 2006A, 4.750%, 5/01/25 – FGIC Insured (UB) (6) 
5/16 at 100.00 
AA 
2,801,550 
3,865 
 
Total Wisconsin 
   
4,219,038 
   
Wyoming – 0.5% (0.3% of Total Investments) 
     
1,350 
 
Sweetwater County, Wyoming, Solid Waste Disposal Revenue Bonds, FMC Corporation, Series 2005, 
12/15 at 100.00 
BBB+ 
1,437,089 
   
   5.600%, 12/01/35 (Alternative Minimum Tax) 
     
$      510,220 
 
Total Investments (cost $438,434,184) – 154.1% 
   
479,040,290 
   
Floating Rate Obligations – (13.6)% 
   
(42,295,000) 
   
Variable Rate Demand Preferred Shares, at Liquidation Value – (41.1)% (7) 
   
(127,700,000) 
   
Other Assets Less Liabilities – 0.6% 
   
1,760,680 
   
Net Assets Applicable to Common Shares – 100% 
   
$      310,805,970 
 
 
 
 

 
 
Fair Value Measurements
 
Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
 
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
 
The inputs or methodologies 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 the end of the reporting period:
 
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Long-Term Investments: 
                     
Municipal Bonds 
$     $ 479,040,290     $     $ 479,040,290  
 
The Nuveen funds’ Board of Directors/Trustees is responsible for the valuation process and has delegated the oversight of the daily valuation process to the Adviser’s Valuation Committee. The Valuation Committee, pursuant to the valuation policies and procedures adopted by the Board of Directors/Trustees, is responsible for making fair value determinations, evaluating the effectiveness of the funds’ pricing policies, and reporting to the Board of Directors/Trustees. The Valuation Committee is aided in its efforts by the Adviser’s dedicated Securities Valuation Team, which is responsible for administering the daily valuation process and applying fair value methodologies as approved by the Valuation Committee. When determining the reliability of independent pricing services for investments owned by the funds, the Valuation Committee, among other things, conducts due diligence reviews of the pricing services and monitors the quality of security prices received through various testing reports conducted by the Securities Valuation Team.
 
The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.
 
For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors/Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such testing and fair valuation occurrences are reported to the Board of Directors/Trustees.
 
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 July 31, 2012, the cost of investments was $402,479,884.
 
Gross unrealized appreciation and gross unrealized depreciation of investments at July 31, 2012, were as follows:
   
Gross unrealized: 
 
Appreciation 
$ 46,478,755 
Depreciation 
(12,213,310) 
Net unrealized appreciation (depreciation) of investments 
$ 34,265,445 
 
(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 highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, 
   
Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or 
   
BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any 
   
of these national rating agencies. 
(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. Certain bonds backed by U.S. Government or 
   
agency securities are regarded as having an implied rating equal to the rating of such securities. 
(5) 
 
At or subsequent to the end of the reporting period, this security is non-income producing. Non-income 
   
producing security, in the case of a bond, generally denotes that the issuer has (1) defaulted on the payment 
   
of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser 
   
has concluded that the issue is not likely to meet its future interest payment obligations and has directed 
   
the Fund’s custodian to cease accruing additional income on the Fund’s records. 
(6) 
 
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for 
   
investments in inverse floating rate transactions. 
(7) 
 
Variable Rate Demand Preferred Shares, at Liquidation Value as a percentage of Total Investments are 26.7%. 
N/R 
 
Not rated. 
(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 Premier Municipal Income Fund, Inc. 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date:         September 28, 2012        
 
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:         September 28, 2012        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date:         September 28, 2012        
 

EX-99.CERT 2 npf_certification2.htm CERTIFICATIONS Unassociated Document
CERTIFICATIONS

I, Gifford R. Zimmerman, certify that:
 
1.
I have reviewed this report on Form N-Q of Nuveen Premier Municipal Income Fund, Inc.;
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.
Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4.
The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
a.  
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b.  
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c.  
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
d.  
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5.
The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
a.  
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and
b.  
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
 
Date:     September 28, 2012        
 
/s/ Gifford R. Zimmerman
Gifford R. Zimmerman
Chief Administrative Officer
(principal executive officer)
 
 
 
 

 
 
 
CERTIFICATIONS
 
I, Stephen D. Foy, certify that:
 
1.
I have reviewed this report on Form N-Q of Nuveen Premier Municipal Income Fund, Inc.;
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.
Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4.
The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
a.  
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b.  
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c.  
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
d.  
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5.
The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
a.  
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and
b.  
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
 
Date:      September 28, 2012        
 
/s/ Stephen D. Foy
Stephen D. Foy
Vice President and Controller
(principal financial officer)