N-Q 1 nq2.htm NPF nq2.htm
 
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 811-06456
 
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:         7/31/15         
 
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
     
           
   
Nuveen Premier Municipal Income Fund, Inc. (NPF)
     
   
July 31, 2015 (Unaudited)
     
 
 
Principal
   
Optional Call
   
Amount (000)
 
Description (1)
Provisions (2)
Ratings (3)
Value
   
LONG-TERM INVESTMENTS – 148.0% (99.5% of Total Investments)
     
           
   
MUNICIPAL BONDS – 148.0% (99.5% of Total Investments)
     
           
   
Alabama – 1.3% (0.8% of Total Investments)
     
$ 2,010
 
Alabama Special Care Facilities Financing Authority, Revenue Bonds, Ascension Health, Series
11/16 at 100.00
AA+
$ 2,104,973
   
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
1,210,764
400
 
5.000%, 11/15/30
11/15 at 100.00
Baa2
400,616
3,610
 
Total Alabama
   
3,716,353
   
Alaska – 0.3% (0.2% of Total Investments)
     
1,000
 
Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds,
10/15 at 100.00
B
767,830
   
Series 2006A, 5.000%, 6/01/46
     
   
Arizona – 5.2% (3.5% of Total Investments)
     
2,335
 
Arizona Sports and Tourism Authority, Tax Revenue Bonds, Multipurpose Stadium Facility
7/22 at 100.00
A1
2,467,581
   
Project, Refunding Senior Series 2012A, 5.000%, 7/01/36
     
   
Downtown Phoenix Hotel Corporation, Arizona, Senior Revenue Bonds, Series 2005A:
     
2,000
 
5.250%, 7/01/26 – FGIC Insured
1/16 at 100.00
Ba1
2,020,240
500
 
5.000%, 7/01/36 – FGIC Insured
1/16 at 100.00
Ba1
502,770
   
Glendale Industrial Development Authority, Arizona, Revenue Bonds, John C. Lincoln Health
     
   
Network, Series 2005B:
     
100
 
5.250%, 12/01/24 (Pre-refunded 12/01/15)
12/15 at 100.00
N/R (4)
101,687
135
 
5.250%, 12/01/25 (Pre-refunded 12/01/15)
12/15 at 100.00
N/R (4)
137,277
7,000
 
Phoenix Civic Improvement Corporation, Arizona, Revenue Bonds, Civic Plaza Expansion Project,
No Opt. Call
AA
8,794,659
   
Series 2005B, 5.500%, 7/01/39 – FGIC Insured
     
1,200
 
Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc
No Opt. Call
A–
1,319,736
   
Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37
     
13,270
 
Total Arizona
   
15,343,950
   
Arkansas – 0.7% (0.5% of Total Investments)
     
2,155
 
Arkansas Development Finance Authority, State Facility Revenue Bonds, Department of Correction
11/15 at 100.00
AA (4)
2,181,054
   
Special Needs Unit Project, Series 2005B, 5.000%, 11/01/25 (Pre-refunded 11/01/15) –
     
   
AGM Insured
     
   
California – 20.7% (13.9% of Total Investments)
     
3,000
 
Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement
9/17 at 100.00
AA–
3,053,730
   
Project, Refunding Series 2007A-1, 4.375%, 3/01/37 – FGIC Insured
     
   
Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement
     
   
Project, Series 1997C:
     
2,945
 
0.000%, 9/01/27
No Opt. Call
AA
1,866,129
2,455
 
0.000%, 9/01/32 – AGM Insured
No Opt. Call
AA
1,162,344
1,000
 
Arcadia Unified School District, Los Angeles County, California, General Obligation Bonds,
2/17 at 44.77
Aa1
427,620
   
Election 2006 Series 2007A, 0.000%, 8/01/33 – AGM Insured
     
1,055
 
Brisbane School District, San Mateo County, California, General Obligation Bonds, Election
No Opt. Call
AA
451,245
   
2003 Series 2005, 0.000%, 7/01/35 – AGM Insured
     
1,640
 
Byron Unified School District, Contra Costa County, California, General Obligation Bonds,
No Opt. Call
Aa3
790,398
   
Series 2007B, 0.000%, 8/01/32 – SYNCORA GTY Insured
     
60
 
Byron Unified School District, Contra Costa County, California, General Obligation Bonds,
No Opt. Call
Aa3 (4)
36,257
   
Series 2007B, 0.000%, 8/01/32 – SYNCORA GTY Insured (ETM)
     
1,350
 
California Educational Facilities Authority, Revenue Bonds, University of Southern California,
10/15 at 100.00
Aa1 (4)
1,360,422
   
Series 2005, 4.750%, 10/01/28 (Pre-refunded 10/01/15)
     
1,700
 
California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services,
10/19 at 100.00
AA
1,939,615
   
Series 2009B, 5.500%, 10/01/39
     
1,025
 
California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Tender Option
5/18 at 100.00
AA–
1,417,750
   
Bond Trust 2015-XF0078, 13.492%, 5/15/40 (IF)
     
500
 
California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda
12/24 at 100.00
BBB–
529,270
   
University Medical Center, Series 2014A, 5.250%, 12/01/44
     
500
 
California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity
10/15 at 100.00
CCC
430,450
   
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+
1,664,064
   
Series 2001C, 5.250%, 8/01/31
     
5,045
 
Culver City Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment
11/21 at 61.42
BBB–
2,339,518
   
Project, Capital Appreciation Series 2011A, 0.000%, 11/01/27
     
4,000
 
East Bay Municipal Utility District, Alameda and Contra Costa Counties, California, Water
6/24 at 100.00
AAA
4,556,640
   
System Revenue Bonds, Series 2014C, 5.000%, 6/01/44
     
3,010
 
El Camino Community College District, California, General Obligation Bonds, Election of 2002
8/22 at 100.00
Aa1
2,214,577
   
Series 2012C, 0.000%, 8/01/25
     
25,000
 
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Series
No Opt. Call
Aaa
24,825,499
   
1995A, 0.000%, 1/01/17 (ETM)
     
3,060
 
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement
6/25 at 100.00
A+
3,374,660
   
Asset-Backed Revenue Bonds, Series 2015A, 5.000%, 6/01/45
     
3,500
 
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
6/17 at 100.00
B
2,736,755
   
Bonds, Series 2007A-1, 5.125%, 6/01/47
     
2,665
 
Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series
1/24 at 100.00
AA–
2,985,120
   
2014B, 5.000%, 7/01/43
     
4,615
 
Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project
No Opt. Call
A–
1,475,877
   
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
Baa1
102,175
110
 
5.000%, 9/01/23
9/15 at 102.00
Baa1
112,344
2,000
 
San Francisco, California, Community Facilities District 6, Mission Bay South Public
8/22 at 29.31
N/R
415,560
   
Improvements, Special Tax Refunding Bonds, Series 2013C, 0.000%, 8/01/43
     
1,145
 
Southern Kern Unified School District, Kern County, California, General Obligation Bonds,
No Opt. Call
AA
602,041
   
Series 2006C, 0.000%, 11/01/30 – AGM Insured
     
1,175
 
Southern Kern Unified School District, Kern County, California, General Obligation Bonds,
No Opt. Call
AA
486,720
   
Series 2010B, 0.000%, 11/01/35 – AGM Insured
     
74,255
 
Total California
   
61,356,780
   
Colorado – 8.0% (5.4% of Total Investments)
     
500
 
Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Liberty
1/24 at 100.00
A
532,610
   
Common Charter School, Series 2014A, 5.000%, 1/15/44
     
1,000
 
Colorado Health Facilities Authority, Revenue Bonds, Evangelical Lutheran Good Samaritan
6/16 at 100.00
BBB+
1,020,040
   
Society, Series 2005, 5.000%, 6/01/29
     
440
 
Colorado Health Facilities Authority, Revenue Bonds, Vail Valley Medical Center, Series 2004,
9/15 at 100.00
A
441,663
   
5.000%, 1/15/17
     
   
Denver, Colorado, Airport System Revenue Bonds, Series 2006:
     
4,060
 
5.000%, 11/15/23 – FGIC Insured
11/16 at 100.00
AA–
4,298,525
6,800
 
5.000%, 11/15/24 – FGIC Insured
11/16 at 100.00
AA–
7,187,328
8,940
 
5.000%, 11/15/25 – FGIC Insured
11/16 at 100.00
AA–
9,443,232
660
 
Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue
12/20 at 100.00
AA
778,793
   
Refunding Bonds, Series 2011, 6.125%, 12/01/41 – AGM Insured
     
22,400
 
Total Colorado
   
23,702,191
   
Florida – 2.2% (1.5% of Total Investments)
     
105
 
Marion County Hospital District, Florida, Revenue Bonds, Munroe Regional Medical Center,
10/17 at 100.00
BBB+ (4)
114,571
   
Series 2007, 5.000%, 10/01/34 (Pre-refunded 10/01/17)
     
1,500
 
Martin County Industrial Development Authority, Florida, Industrial Development Revenue
6/20 at 100.00
Ba1
1,552,050
   
Refunding Bonds, Indiantown Cogeneration LP, Series 2013, 3.950%, 12/15/21 (Alternative
     
   
Minimum Tax)
     
1,000
 
South Miami Health Facilities Authority, Florida, Hospital Revenue, Baptist Health System
8/17 at 100.00
AA
1,046,130
   
Obligation Group, Series 2007, 5.000%, 8/15/42
     
705
 
Southeast Overtown/Park West Community Redevelopment Agency, Florida, Tax Increment Revenue
3/24 at 100.00
BBB+
765,637
   
Bonds, Series 2014A-1, 5.000%, 3/01/30
     
2,150
 
Sumter County, Florida, Capital Improvement Revenue Bonds, Series 2006, 5.000%, 6/01/30
6/16 at 100.00
A (4)
2,234,151
   
(Pre-refunded 6/01/16) – AMBAC Insured
     
700
 
Tampa, Florida, Cigarette Tax Allocation Bonds, H. Lee Moffitt Cancer Center Project,
9/22 at 100.00
A+
786,821
   
Refunding & Capital Improvement Series 2012A, 5.000%, 9/01/29
     
6,160
 
Total Florida
   
6,499,360
   
Georgia – 2.2% (1.5% of Total Investments)
     
   
East Point Building Authority, Georgia, Revenue Bonds, Water & Sewer Project Series 2006A:
     
2,360
 
5.000%, 2/01/30 – SYNCORA GTY Insured
2/16 at 100.00
N/R
2,371,635
1,480
 
5.000%, 2/01/34 – SYNCORA GTY Insured
2/16 at 100.00
N/R
1,486,630
1,000
 
Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2006B, 5.000%, 3/15/20
No Opt. Call
A
1,108,920
1,425
 
Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia
10/21 at 100.00
Aa2
1,560,774
   
Medical Center Project, Series 2011B, 5.000%, 10/01/41
     
6,265
 
Total Georgia
   
6,527,959
   
Idaho – 0.4% (0.2% of Total Investments)
     
310
 
Idaho Water Resource Board, Water Resource Loan Program Revenue, Ground Water Rights
9/22 at 100.00
Baa1
331,511
   
Mitigation 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+
506,730
200
 
5.250%, 9/01/37
9/16 at 100.00
BB+
201,624
1,010
 
Total Idaho
   
1,039,865
   
Illinois – 15.6% (10.5% 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
3,233,580
4,100
 
Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2011,
12/21 at 100.00
AA
4,318,325
   
5.250%, 12/01/40
     
6,410
 
Chicago, Illinois, Wastewater Transmission Revenue Bonds, Second Lien Series 2001A, 5.500%,
No Opt. Call
AA–
7,197,533
   
1/01/30 – NPFG Insured
     
3,500
 
Chicago, Illinois, Water Revenue Bonds, Senior Lien Series 2001, 5.750%, 11/01/30 –
No Opt. Call
Baa2
4,125,695
   
AMBAC Insured
     
4,685
 
Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2015A,
7/25 at 100.00
AA–
5,198,898
   
5.000%, 1/01/40
     
200
 
Illinois Finance Authority, Revenue Bonds, Proctor Hospital, Series 2006, 5.125%, 1/01/25
1/16 at 100.00
Aa3
203,648
1,830
 
Illinois Sports Facility Authority, State Tax Supported Bonds, Refunding Series 2014, 5.250%,
6/24 at 100.00
AA
1,997,921
   
6/15/32 – AGM Insured
     
   
Lombard Public Facilities Corporation, Illinois, Second Tier Conference Center and Hotel
     
   
Revenue Bonds, Series 2005B:
     
850
 
5.250%, 1/01/25 (5)
1/16 at 100.00
D
248,030
1,750
 
5.250%, 1/01/30 (5)
1/16 at 100.00
D
510,650
   
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–
8,044,191
10,775
 
0.000%, 12/15/24 – NPFG Insured
No Opt. Call
AA–
7,817,694
2,395
 
Southwestern Illinois Development Authority, Local Government Revenue Bonds, Edwardsville
No Opt. Call
AA
1,904,528
   
Community Unit School District 7 Project, Series 2007, 0.000%, 12/01/22 – AGM Insured
     
1,220
 
University of Illinois, Health Services Facilities System Revenue Bonds, Series 2013,
10/23 at 100.00
A
1,378,966
   
6.000%, 10/01/42
     
51,290
 
Total Illinois
   
46,179,659
   
Indiana – 3.3% (2.2% of Total Investments)
     
6,180
 
Crown Point Multi-School Building Corporation, Indiana, First Mortgage Bonds, Crown Point
No Opt. Call
AA+
5,064,572
   
Community School Corporation, Series 2000, 0.000%, 1/15/23 – NPFG Insured
     
1,500
 
Indiana Finance Authority, Private Activity Bonds, Ohio River Bridges East End Crossing
7/23 at 100.00
BBB
1,573,875
   
Project, Series 2013B, 5.000%, 7/01/40 (Alternative Minimum Tax)
     
1,250
 
Portage, Indiana, Economic Development Revenue Bonds, Ameriplex Project, Series 2006,
7/16 at 100.00
A
1,274,663
   
5.000%, 7/15/23
     
1,700
 
Saint Joseph County, Indiana, Educational Facilities Revenue Bonds, University of Notre Dame
3/18 at 100.00
Aaa
1,851,963
   
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
10/15 at 100.00
N/R
48,920
   
2005, 5.250%, 2/15/28 (6)
     
11,630
 
Total Indiana
   
9,813,993
   
Iowa – 1.9% (1.3% of Total Investments)
     
2,000
 
Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company
No Opt. Call
BB–
2,117,080
   
Project, Series 2013, 5.000%, 12/01/19
     
4,000
 
Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C,
10/15 at 100.00
B+
3,501,680
   
5.500%, 6/01/42
     
6,000
 
Total Iowa
   
5,618,760
   
Kansas – 2.1% (1.4% of Total Investments)
     
5,000
 
Wyandotte County/Kansas City Unified Government Board of Public Utilities, Kansas, Utility
No Opt. Call
A+
5,603,250
   
System Revenue Bonds, Improvement Series 2012B, 5.000%, 9/01/32
     
915
 
Wyandotte County-Kansas City Unified Government, Kansas, Sales Tax Special Obligation Capital
No Opt. Call
A–
667,776
   
Appreciation Revenue Bonds Redevelopment Project Area B – Major Multi-Sport Athletic
     
   
Complex Project, Subordinate Lien Series 2010B, 0.000%, 6/01/21
     
5,915
 
Total Kansas
   
6,271,026
   
Kentucky – 3.7% (2.5% of Total Investments)
     
1,700
 
Kentucky Economic Development Finance Authority, Hospital Facilities Revenue Bonds, Owensboro
6/20 at 100.00
BBB+
1,945,599
   
Medical Health System, Series 2010A, 6.500%, 3/01/45
     
505
 
Kentucky Municipal Power Agency, Power System Revenue Bonds, Prairie State Project Series
9/17 at 100.00
AA– (4)
550,501
   
2007A, 5.000%, 9/01/37 (Pre-refunded 9/01/17) – NPFG Insured
     
1,785
 
Kentucky Municipal Power Agency, Power System Revenue Bonds, Prairie State Project Series
9/17 at 100.00
AA–
1,894,456
   
2007A, 5.000%, 9/01/37 – NPFG Insured
     
5,440
 
Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds,
7/23 at 100.00
Baa3
6,089,155
   
Downtown Crossing Project, Series 2013A, 5.750%, 7/01/49
     
510
 
Louisville and Jefferson County Metropolitan Government, Kentucky, Industrial Building Revenue
10/16 at 100.00
A+
520,465
   
Bonds, Sisters of Mercy of the Americas, Series 2006, 5.000%, 10/01/35
     
9,940
 
Total Kentucky
   
11,000,176
   
Louisiana – 7.1% (4.8% of Total Investments)
     
2,930
 
Ascension Parish Industrial development Board, Louisiana, Revenue Bonds, Impala Warehousing
7/23 at 100.00
N/R
3,213,741
   
(US) LLC Project, Series 2013, 6.000%, 7/01/36
     
2,665
 
East Baton Rouge Sewerage Commission, Louisiana, Revenue Bonds, Refunding Series 2014B,
2/25 at 100.00
AA
3,011,024
   
5.000%, 2/01/39
     
1,500
 
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project,
5/17 at 100.00
Baa1
1,587,480
   
Series 2007A, 5.500%, 5/15/47
     
330
 
Louisiana Stadium and Exposition District, Revenue Refunding Bonds, Senior Lien Series 2013A,
7/23 at 100.00
A
362,762
   
5.000%, 7/01/36
     
   
Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2006A:
     
825
 
4.750%, 5/01/39 (Pre-refunded 5/01/16) – AGM Insured
5/16 at 100.00
Aa1 (4)
852,786
8,880
 
4.500%, 5/01/41 (Pre-refunded 5/01/16) – FGIC Insured (UB)
5/16 at 100.00
Aa1 (4)
9,162,472
5
 
Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2006A, Trust 660, 16.192%,
5/16 at 100.00
Aa1 (4)
5,635
   
5/01/34 (Pre-refunded 5/01/16) – NPFG Insured (IF)
     
1,000
 
New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2012, 5.000%, 12/01/28 –
12/22 at 100.00
AA
1,106,160
   
AGM Insured
     
1,200
 
New Orleans, Louisiana, Water Revenue Bonds, Refunding Series 2014, 5.000%, 12/01/44
12/24 at 100.00
BBB+
1,309,248
485
 
Saint Charles Parish, Louisiana, Gulf Opportunity Zone Revenue Bonds, Valero Project, Series
No Opt. Call
BBB
528,136
   
2010, 4.000%, 12/01/40 (Mandatory put 6/01/22)
     
19,820
 
Total Louisiana
   
21,139,444
   
Maine – 1.6% (1.1% of Total Investments)
     
2,000
 
Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical
7/23 at 100.00
BBB
2,126,820
   
Center Obligated Group Issue, Series 2013, 5.000%, 7/01/33
     
   
Maine Turnpike Authority, Special Obligation Bonds, Series 2014:
     
1,290
 
5.000%, 7/01/33
No Opt. Call
A
1,459,235
1,020
 
5.000%, 7/01/34
No Opt. Call
A
1,152,131
4,310
 
Total Maine
   
4,738,186
   
Maryland – 2.4% (1.6% of Total Investments)
     
5,000
 
Baltimore, Maryland, Revenue Bonds, Wastewater Projects, Series 2014C, 5.000%, 7/01/44
1/25 at 100.00
AA–
5,609,900
1,500
 
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Western Maryland
7/16 at 100.00
AA– (4)
1,560,270
   
Health, Series 2006A, 4.750%, 7/01/36 (Pre-refunded 7/01/16) – NPFG Insured
     
6,500
 
Total Maryland
   
7,170,170
   
Massachusetts – 2.8% (1.9% of Total Investments)
     
7,500
 
Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, Senior
1/20 at 100.00
A+
8,303,475
   
Lien Series 2010B, 5.000%, 1/01/37
     
   
Michigan – 4.9% (3.3% of Total Investments)
     
4,600
 
Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2006B, 4.625%,
7/16 at 100.00
AA–
4,600,046
   
7/01/34 – FGIC Insured
     
1,500
 
Michigan Finance Authority, Hospital Revenue Bonds, Sparrow Obligated Group, Series 2012,
11/22 at 100.00
A+
1,605,195
   
5.000%, 11/15/42
     
2,000
 
Michigan Finance Authority, State Revolving Fund Revenue Bonds, Clean Water Series 2012,
10/22 at 100.00
AAA
2,296,440
   
5.000%, 10/01/31
     
815
 
Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Series
12/16 at 100.00
AA
856,940
   
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)
196,063
   
2006A, 5.000%, 12/01/31 (Pre-refunded 12/01/16)
     
5,000
 
Michigan Tobacco Settlement Finance Authority, Tobacco Settlement Asset-Backed Revenue Bonds,
6/18 at 100.00
BB–
4,874,600
   
Series 2008A, 6.875%, 6/01/42
     
170
 
Monroe County Hospital Finance Authority, Michigan, Mercy Memorial Hospital Corporation
6/16 at 100.00
AA–
172,752
   
Revenue Bonds, Series 2006, 5.500%, 6/01/35
     
14,270
 
Total Michigan
   
14,602,036
   
Minnesota – 1.4% (0.9% of Total Investments)
     
   
Minnesota Municipal Power Agency, Electric Revenue Bonds, Refunding Series 2014A:
     
700
 
5.000%, 10/01/34
10/24 at 100.00
A2
795,221
500
 
5.000%, 10/01/35
10/24 at 100.00
A2
567,165
1,000
 
Minnesota State, General Obligation Bonds, Various Purpose, Refunding Series 2010D,
No Opt. Call
AA+
1,120,920
   
5.000%, 8/01/18
     
1,500
 
Western Minnesota Municipal Power Agency, Power Supply Revenue Bonds, Series 2014A,
1/24 at 100.00
Aa3
1,670,865
   
5.000%, 1/01/46
     
3,700
 
Total Minnesota
   
4,154,171
   
Missouri – 0.0% (0.0% of Total Investments)
     
100
 
Hannibal Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Hannibal
3/16 at 100.00
BBB+
101,418
   
Regional Hospital, Series 2006, 5.000%, 3/01/22
     
   
Nebraska – 0.9% (0.6% of Total Investments)
     
1,580
 
Douglas County Hospital Authority 2, Nebraska, Health Facilities Revenue Bonds, Nebraska
No Opt. Call
Aa3
1,667,216
   
Medical Center, Series 2003, 5.000%, 11/15/16
     
515
 
Omaha Public Power District, Nebraska, Separate Electric System Revenue Bonds, Nebraska
2/17 at 100.00
AA+
872,245
   
City 2, Tender Option Bond Trust 11673, 20.534%, 8/01/40 – BHAC Insured (IF)
     
2,095
 
Total Nebraska
   
2,539,461
   
Nevada – 4.8% (3.2% 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+
4,653,080
2,500
 
Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran
No Opt. Call
A+
2,981,800
   
International Airport, Refunding Series 2015C, 5.000%, 7/01/26
     
3,835
 
Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Series 2015,
12/24 at 100.00
AA+
4,305,708
   
5.000%, 6/01/39
     
2,050
 
Washoe County, Nevada, General Obligation Bonds, Reno-Sparks Convention & Visitors Authority,
7/21 at 100.00
AA
2,305,225
   
Refunding Series 2011, 5.000%, 7/01/32
     
12,385
 
Total Nevada
   
14,245,813
   
New Hampshire – 1.7% (1.1% of Total Investments)
     
3,500
 
New Hampshire Health and Education Facilities Authority, Revenue Bonds, Catholic Medical
No Opt. Call
A–
3,480,750
   
Center, Series 2012, 4.000%, 7/01/32
     
1,110
 
New Hampshire Health and Education Facilities Authority, Revenue Bonds, Dartmouth College,
6/19 at 100.00
AA+
1,537,539
   
Tender Option Bond Trust 09-7W, 14.216%, 6/01/39 (IF) (7)
     
4,610
 
Total New Hampshire
   
5,018,289
   
New Jersey – 5.9% (4.0% of Total Investments)
     
1,865
 
New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge
1/24 at 100.00
AA
2,024,737
   
Replacement Project, Series 2013, 5.125%, 1/01/39 – AGM Insured (Alternative Minimum Tax)
     
1,000
 
New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2005P,
9/15 at 100.00
A– (4)
1,004,270
   
5.250%, 9/01/24 (Pre-refunded 9/01/15)
     
2,000
 
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Barnabas Health
7/21 at 100.00
A–
2,266,980
   
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–
578,390
   
Appreciation Series 2010A, 0.000%, 12/15/26
     
   
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2006C:
     
25,000
 
0.000%, 12/15/35 – AMBAC Insured
No Opt. Call
A–
8,437,499
10,000
 
0.000%, 12/15/36 – AMBAC Insured
No Opt. Call
A–
3,213,100
40,865
 
Total New Jersey
   
17,524,976
   
New York – 8.5% (5.7% 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–
757,119
1,600
 
0.000%, 7/15/44
No Opt. Call
BBB–
393,328
1,100
 
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series
2/21 at 100.00
A
1,253,747
   
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
AA–
2,290,376
   
2/15/47 – NPFG Insured
     
470
 
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2014A,
9/24 at 100.00
A–
514,857
   
5.000%, 9/01/44
     
7,500
 
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006A,
6/16 at 100.00
AA+
7,775,625
   
5.000%, 12/01/25 – FGIC Insured (UB)
     
3,645
 
New York Convention Center Development Corporation, New York, Hotel Unit Fee Secured Revenue
11/15 at 100.00
AA+
3,690,344
   
Bonds, Series 2005, 5.000%, 11/15/44 – AMBAC Insured
     
4,100
 
New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade
11/24 at 100.00
N/R
4,139,442
   
Center Project, Class 1 Series 2014, 5.000%, 11/15/44
     
1,560
 
New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 4 World Trade
11/21 at 100.00
A+
1,729,042
   
Center Project, Series 2011, 5.000%, 11/15/44
     
1,500
 
New York Liberty Development Corporation, Revenue Bonds, Goldman Sachs Headquarters Issue,
No Opt. Call
A
1,755,480
   
Series 2005, 5.250%, 10/01/35
     
500
 
Onondaga Civic Development Corporation, New York, Revenue Bonds, Saint Joseph’s Hospital
7/19 at 100.00
BB
527,235
   
Health Center Project, Series 2014A, 5.125%, 7/01/31
     
395
 
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air
12/20 at 100.00
BBB
460,823
   
Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42
     
25,230
 
Total New York
   
25,287,418
   
North Carolina – 5.6% (3.8% of Total Investments)
     
2,965
 
North Carolina Department of Transportation, Private Activity Revenue Bonds, I-77 Hot Lanes
6/25 at 100.00
BBB–
3,142,337
   
Project, Series 2015, 5.000%, 12/31/37 (Alternative Minimum Tax)
     
10,300
 
North Carolina Eastern Municipal Power Agency, Power System Revenue Refunding Bonds, Series
No Opt. Call
AA– (4)
12,928,045
   
1993B, 6.000%, 1/01/22 – CAPMAC Insured (ETM) (UB) (7)
     
500
 
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series
1/26 at 100.00
A
578,700
   
2015A, 5.000%, 1/01/32
     
13,765
 
Total North Carolina
   
16,649,082
   
North Dakota – 0.3% (0.2% of Total Investments)
     
675
 
Burleigh County, North Dakota, Health Care Revenue Bonds, Saint Alexius Medical Center
7/22 at 100.00
N/R (4)
809,548
   
Project, Refunding Series 2012A, 5.000%, 7/01/38 (Pre-refunded 7/01/22)
     
   
Ohio – 3.6% (2.4% of Total Investments)
     
   
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
     
   
Bonds, Senior Lien, Series 2007A-2:
     
4,100
 
5.125%, 6/01/24
6/17 at 100.00
B–
3,412,184
3,410
 
5.875%, 6/01/47
6/17 at 100.00
B
2,743,379
1,000
 
JobsOhio Beverage System, Ohio, Statewide Liquor Profits Revenue Bonds, Senior Lien Series
1/23 at 100.00
AA
1,106,840
   
2013A, 5.000%, 1/01/38
     
   
JobsOhio Beverage System, Ohio, Statewide Senior Lien Liquor Profits Revenue Bonds, Tender
     
   
Option Bond Trust 1157:
     
625
 
17.085%, 1/01/38 (IF) (7)
1/23 at 100.00
AA
892,100
265
 
16.960%, 1/01/38 (IF) (7)
1/23 at 100.00
AA
377,384
1,315
 
15.935%, 1/01/38 (IF) (7)
1/23 at 100.00
AA
1,876,978
250
 
Port of Greater Cincinnati Development Authority, Ohio, Economic Development Revenue Bonds,
10/16 at 100.00
A+
258,990
   
Sisters of Mercy of the Americas, Series 2006, 5.000%, 10/01/25
     
10,965
 
Total Ohio
   
10,667,855
   
Oklahoma – 2.2% (1.5% of Total Investments)
     
450
 
Norman Regional Hospital Authority, Oklahoma, Hospital Revenue Bonds, Series 2005,
9/16 at 100.00
BBB–
463,145
   
5.375%, 9/01/36
     
3,000
 
Tulsa Airports Improvement Trust, Oklahoma, General Airport Revenue Bonds, Series 2013A,
6/23 at 100.00
AA
3,288,960
   
5.625%, 6/01/43 – BAM Insured (Alternative Minimum Tax)
     
2,705
 
Tulsa County Industrial Authority, Oklahoma, Health Care Revenue Bonds, Saint Francis Health
12/16 at 100.00
AA+
2,844,064
   
System, Series 2006, 5.000%, 12/15/36
     
6,155
 
Total Oklahoma
   
6,596,169
   
Oregon – 2.2% (1.5% of Total Investments)
     
2,000
 
Oregon Department of Administrative Services, State Lottery Revenue Bonds, Refunding Series
4/24 at 100.00
AAA
2,425,160
   
2014C, 5.000%, 4/01/25
     
3,500
 
Oregon Department of Administrative Services, State Lottery Revenue Bonds, Refunding Series
4/25 at 100.00
AAA
4,164,370
   
2015D, 5.000%, 4/01/29
     
5,500
 
Total Oregon
   
6,589,530
   
Pennsylvania – 2.5% (1.7% of Total Investments)
     
2,000
 
Allegheny County Sanitary Authority, Pennsylvania, Sewer Revenue Bonds, Series 2005A, 5.000%,
12/15 at 100.00
AA– (4)
2,030,800
   
12/01/23 (Pre-refunded 12/01/15) – NPFG Insured
     
4,500
 
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2009C, 0.000%,
6/26 at 100.00
AA
5,348,925
   
6/01/33 – AGM Insured
     
6,500
 
Total Pennsylvania
   
7,379,725
   
South Carolina – 2.3% (1.5% of Total Investments)
     
2,620
 
South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2013A,
12/23 at 100.00
AA–
2,898,008
   
5.125%, 12/01/43
     
3,455
 
South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2014A,
6/24 at 100.00
AA–
3,878,272
   
5.500%, 12/01/54
     
6,075
 
Total South Carolina
   
6,776,280
   
Tennessee – 2.2% (1.5% of Total Investments)
     
195
 
Johnson City Health and Educational Facilities Board, Tennessee, Hospital Revenue Refunding
7/23 at 100.00
AA– (4)
195,800
   
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+
1,657,280
   
States Health Alliance, Series 2006A, 5.500%, 7/01/36
     
4,000
 
The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006A, 5.250%, 9/01/26
No Opt. Call
A
4,594,720
5,795
 
Total Tennessee
   
6,447,800
   
Texas – 9.3% (6.3% of Total Investments)
     
4,280
 
Austin Convention Enterprises Inc., Texas, Convention Center Hotel Revenue Bonds, First Tier
1/17 at 100.00
BBB–
4,330,889
   
Series 2006A, 5.000%, 1/01/34 – SYNCORA GTY Insured
     
1,000
 
Bell County Water Control Improvement District 1, Texas, Water Revenue Bonds, Series 2014,
7/23 at 100.00
AA
1,114,940
   
5.000%, 7/10/37 – BAM Insured
     
1,075
 
Brazos River Authority, Texas, Pollution Control Revenue Bonds, TXU Energy Company LLC
10/15 at 100.00
C
61,813
   
Project, Series 2003C, 6.750%, 10/01/38 (Alternative Minimum Tax) (6)
     
3,750
 
Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, First Tier Series
10/23 at 100.00
BBB+
4,037,738
   
2013A, 5.125%, 10/01/43
     
2,745
 
Gulf Coast Industrial Development Authority, Texas, Solid Waste Disposal Revenue Bonds, Citgo
10/22 at 100.00
BB
2,864,023
   
Petroleum Corporation Project, Series 1995, 4.875%, 5/01/25 (Alternative Minimum Tax)
     
500
 
Harris County Metropolitan Transit Authority, Texas, Sales and Use Tax Revenue Bonds,
11/24 at 100.00
AA+
588,185
   
Contractual Obligation Series 2014, 5.000%, 11/01/29
     
   
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H:
     
150
 
0.000%, 11/15/24 – NPFG Insured
No Opt. Call
AA–
103,263
4,440
 
0.000%, 11/15/29 – NPFG Insured
No Opt. Call
AA–
2,347,561
   
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Second Lien
     
   
Series 2014C:
     
160
 
5.000%, 11/15/32
11/24 at 100.00
A3
177,144
600
 
5.000%, 11/15/33
11/24 at 100.00
A3
663,294
   
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+
405,612
600
 
5.125%, 8/15/26
2/16 at 100.00
BBB+
606,000
800
 
Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds,
11/20 at 100.00
Baa1
873,144
   
Southwest Airlines Company, Series 2010, 5.250%, 11/01/40
     
2,000
 
McCamey County Hospital District, Texas, General Obligation Bonds, Series 2013,
12/25 at 100.00
Baa2
2,199,200
   
6.125%, 12/01/38
     
1,735
 
New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue
4/24 at 100.00
AA
1,848,972
   
Bonds, CHF-Collegiate Housing Foundation – College Station I LLC – Texas A&M University
     
   
Project, Series 2014A, 5.000%, 4/01/46 – AGM Insured
     
950
 
North Texas Tollway Authority, System Revenue Bonds, Refunding Second Tier, Series 2008F,
1/18 at 100.00
A3 (4)
1,060,504
   
5.750%, 1/01/38 (Pre-refunded 1/01/18)
     
1,000
 
Sabine River Authority, Texas, Pollution Control Revenue Bonds, TXU Electric Company, Series
11/15 at 100.00
C
57,500
   
2001C, 5.200%, 5/01/28 (6)
     
125
 
Tarrant County Cultural and Educational Facilities Finance Corporation, Texas, Revenue Bonds,
2/17 at 100.00
AA
145,909
   
Texas Health Resources Project, Trust 1031, 18.102%, 2/15/30 (IF) (7)
     
3,000
 
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Texas
2/17 at 100.00
AA
3,125,460
   
Health Resources, Series 2007A, 5.000%, 2/15/36 (UB)
     
1,000
 
Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series
No Opt. Call
A3
1,078,480
   
2012, 5.000%, 12/15/31
     
30,310
 
Total Texas
   
27,689,631
   
Utah – 2.7% (1.8% of Total Investments)
     
1,000
 
Central Utah Water Conservancy District, Water Revenue Bonds, Series 2012C, 5.000%, 10/01/42
10/22 at 100.00
AA+
1,111,040
2,000
 
Utah County, Utah, Hospital Revenue Bonds, IHC Health Services Inc., Series 2012,
5/21 at 100.00
AA+
2,205,440
   
5.000%, 5/15/43
     
235
 
Utah Housing Corporation, Single Family Mortgage Bonds, Series 2001D, 5.500%, 1/01/21
1/16 at 100.00
Aaa
235,524
   
(Alternative Minimum Tax)
     
4,110
 
Utah Transit Authority, Sales Tax Revenue and Refunding Bonds, Series 2012, 5.000%, 6/15/42
6/22 at 100.00
A+
4,494,038
7,345
 
Total Utah
   
8,046,042
   
Virginia – 1.9% (1.3% of Total Investments)
     
   
Route 460 Funding Corporation, Virginia, Toll Road Revenue Bonds, Series 2012B:
     
1,525
 
0.000%, 7/01/36
No Opt. Call
BBB–
554,399
1,400
 
0.000%, 7/01/37
No Opt. Call
BBB–
485,884
1,765
 
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, 95 Express Lanes LLC
1/22 at 100.00
BBB–
1,844,549
   
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–
2,733,671
   
Crossing, Opco LLC Project, Series 2012, 5.500%, 1/01/42 (Alternative Minimum Tax)
     
7,210
 
Total Virginia
   
5,618,503
   
Washington – 2.2% (1.5% of Total Investments)
     
2,000
 
Energy Northwest, Washington, Electric Revenue Bonds, Columbia Generating Station, Refunding
7/24 at 100.00
Aa1
2,265,680
   
Series 2014A, 5.000%, 7/01/40
     
1,000
 
Washington Health Care Facilities Authority, Revenue Bonds, Kadlec Regional Medical Center,
12/20 at 100.00
N/R (4)
1,206,390
   
Series 2010, 5.500%, 12/01/39 (Pre-refunded 12/01/20)
     
1,590
 
Washington Health Care Facilities Authority, Revenue Bonds, Kadlec Regional Medical Center,
12/21 at 100.00
N/R (4)
1,899,430
   
Series 2012, 5.000%, 12/01/42 (Pre-refunded 12/01/21)
     
1,000
 
Washington Health Care Facilities Authority, Revenue Bonds, Seattle Children’s Hospital,
10/22 at 100.00
Aa2
1,087,040
   
Series 2012A, 5.000%, 10/01/42
     
5,590
 
Total Washington
   
6,458,540
   
Wisconsin – 0.9% (0.6% of Total Investments)
     
160
 
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Divine Savior
5/16 at 100.00
BBB–
163,056
   
Healthcare, Series 2006, 5.000%, 5/01/32
     
2,500
 
Wisconsin State, General Obligation Bonds, Series 2006A, 4.750%, 5/01/25 (Pre-refunded
5/16 at 100.00
AA (4)
2,584,400
   
5/01/16) – FGIC Insured
     
2,660
 
Total Wisconsin
   
2,747,456
   
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+
1,368,225
   
5.600%, 12/01/35 (Alternative Minimum Tax)
     
$ 466,180
 
Total Long-Term Investments (cost $412,801,944)
   
438,688,199
 
Principal
   
Optional Call
   
Amount (000)
 
Description (1)
Provisions (2)
Ratings (3)
Value
   
SHORT-TERM INVESTMENTS – 0.8% (0.5% of Total Investments)
     
           
   
MUNICIPAL BONDS – 0.8% (0.5% of Total Investments)
     
           
   
California – 0.8% (0.5% of Total Investments)
     
$ 1,775
 
California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity
No Opt. Call
N/R
$ 1,790,638
   
Health System, Series 2014A, 6.000%, 7/10/15 (8)
     
170
 
California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity
No Opt. Call
N/R
171,498
   
Health System, Series 2014B, 6.000%, 7/10/15 (8)
     
260
 
California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity
No Opt. Call
N/R
262,290
   
Health System, Series 2014C, 6.000%, 7/10/15 (8)
     
$ 2,205
 
Total Short-Term Investments (cost $2,205,000)
   
2,224,426
   
Total Investments (cost $415,006,944) – 148.8%
   
440,912,625
   
Floating Rate Obligations – (7.5)%
   
(22,260,000)
   
Variable Rate Demand Preferred Shares, at Liquidation Value – (43.1)% (9)
   
(127,700,000)
   
Other Assets Less Liabilities – 1.8%
   
5,310,698
   
Net Assets Applicable to Common Shares – 100%
   
$ 296,263,323
 
 
Fair Value Measurements
 
Fair value is defined as the price that would be received 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 risks 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
$ —
$438,688,199
$           —
$438,688,199
Short-Term Investments:
       
Municipal Bonds
2,224,426
2,224,426
Total
$ —
$438,688,199
$2,224,426
$440,912,625
 
 
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.
 
As of July 31, 2015, the cost of investments was $396,905,822.
 
Gross unrealized appreciation and gross unrealized depreciation of investments as of July 31, 2015, were as follows:
   
Gross unrealized:
 
Appreciation
$  34,423,796
Depreciation
(12,677,256)
Net unrealized appreciation (depreciation) of investments
$  21,746,540
 
(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)
 
On May 7, 2015, the Fund's Adviser determined it was unlikely that this borrower would fulfill its entire
   
obligation on this security, and therefore reduced the security's interest rate of accrual from 5.250%
   
to 2.100%.
(6)
 
As of, or subsequent to, the end of the reporting period, this security is non-income producing.
   
Non-income producing, in the case of a fixed-income security, 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 ceased accruing additional income on the Fund’s records.
(7)
 
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for
   
investments in inverse floating rate transactions.
(8)
 
Investment valued at fair value using methods determined in good faith by, or at the discretion of, the
   
Board. For fair value measurement disclosure purposes, investment classified as Level 3.
(9)
 
Variable Rate Demand Preferred Shares, at Liquidation Value as a percentage of Total Investments
   
is 29.0%.
(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 29, 2015        
 
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 29, 2015        
 
By (Signature and Title) /s/ Stephen D. Foy                         
 
     Stephen D. Foy
     Vice President and Controller (principal financial officer)
                                                                                         
Date:         September 29, 2015