N-Q 1 npf.htm NPF



 
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:         7/31/16         
 
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, 2016 (Unaudited) 
 
 
 
 
 
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
LONG-TERM INVESTMENTS – 138.6% (98.2% of Total Investments) 
 
 
 
           
 
 
MUNICIPAL BONDS – 138.6% (98.2% of Total Investments) 
 
 
 
           
 
 
Alabama – 0.6% (0.4% of Total Investments) 
 
 
 
$ 2,010 
 
Alabama Special Care Facilities Financing Authority, Revenue Bonds, Ascension Health, Series 
11/16 at 100.00 
AA+ (4) 
$ 2,037,075 
 
 
2006C-2, 5.000%, 11/15/39 (Pre-refunded 11/15/16) 
 
 
 
 
 
Alaska – 0.3% (0.2% of Total Investments) 
 
 
 
1,000 
 
Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, 
10/16 at 100.00 
B3 
989,980 
 
 
Series 2006A, 5.000%, 6/01/46 
 
 
 
 
 
Arizona – 4.5% (3.2% of Total Investments) 
 
 
 
2,335 
 
Arizona Sports and Tourism Authority, Tax Revenue Bonds, Multipurpose Stadium Facility 
7/22 at 100.00 
A1 
2,627,062 
 
 
Project, Refunding Senior Series 2012A, 5.000%, 7/01/36 
 
 
 
7,000 
 
Phoenix Civic Improvement Corporation, Arizona, Revenue Bonds, Civic Plaza Expansion Project, 
No Opt. Call 
AA 
10,106,180 
 
 
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 
BBB+ 
1,545,156 
 
 
Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37 
 
 
 
10,535 
 
Total Arizona 
 
 
14,278,398 
 
 
California – 21.4% (15.2% of Total Investments) 
 
 
 
3,000 
 
Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement 
9/17 at 100.00 
AA– 
3,088,260 
 
 
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 
2,194,967 
2,455 
 
0.000%, 9/01/32 – AGM Insured 
No Opt. Call 
AA 
1,495,414 
1,000 
 
Arcadia Unified School District, Los Angeles County, California, General Obligation Bonds, 
2/17 at 44.77 
Aa1 
443,520 
 
 
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 
579,659 
 
 
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 
989,773 
 
 
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) 
44,155 
 
 
Series 2007B, 0.000%, 8/01/32 – SYNCORA GTY Insured (ETM) 
 
 
 
1,700 
 
California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, 
10/19 at 100.00 
AA 
1,942,845 
 
 
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– 
1,441,714 
 
 
Bond Trust 2015-XF0078, 12.782%, 5/15/40 (IF) 
 
 
 
500 
 
California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda 
12/24 at 100.00 
BB+ 
577,250 
 
 
University Medical Center, Series 2014A, 5.250%, 12/01/44 
 
 
 
3,070 
 
California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda 
6/26 at 100.00 
BB+ 
3,583,365 
 
 
University Medical Center, Series 2016A, 5.250%, 12/01/56 
 
 
 
500 
 
California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity 
10/16 at 100.00 
CCC 
500,005 
 
 
Health System, Series 2005A, 5.250%, 7/01/39 (5) 
 
 
 
5,045 
 
Culver City Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment 
11/21 at 61.42 
BBB– 
2,589,397 
 
 
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 
4,882,760 
 
 
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 
2,502,725 
 
 
Series 2012C, 0.000%, 8/01/25 
 
 
 
25,000 
 
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Series 
No Opt. Call 
Aaa 
24,946,746 
 
 
1995A, 0.000%, 1/01/17 (ETM) 
 
 
 
3,060 
 
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement 
6/25 at 100.00 
A+ 
3,695,562 
 
 
Asset-Backed Revenue Bonds, Refunding 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– 
3,500,875 
 
 
Bonds, Series 2007A-1, 5.125%, 6/01/47 
 
 
 
2,000 
 
Imperial Irrigation District, California, Electric System Revenue Bonds, Refunding Series 
5/26 at 100.00 
AA– 
2,477,300 
 
 
2015C, 5.000%, 11/01/38 
 
 
 
2,665 
 
Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 
1/24 at 100.00 
Aa2 
3,213,883 
 
 
2014B, 5.000%, 7/01/43 
 
 
 
4,615 
 
Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project 
No Opt. Call 
2,104,255 
 
 
Area, Series 2011B, 0.000%, 10/01/38 
 
 
 
2,000 
 
San Francisco, California, Community Facilities District 6, Mission Bay South Public 
8/22 at 29.31 
N/R 
471,320 
 
 
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 
767,952 
 
 
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 
638,812 
 
 
Series 2010B, 0.000%, 11/01/35 – AGM Insured 
 
 
 
76,165 
 
Total California 
 
 
68,672,514 
 
 
Colorado – 6.8% (4.8% of Total Investments) 
 
 
 
500 
 
Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Liberty 
1/24 at 100.00 
569,265 
 
 
Common Charter School, Series 2014A, 5.000%, 1/15/44 
 
 
 
375 
 
Colorado Health Facilities Authority, Revenue Bonds, Evangelical Lutheran Good Samaritan 
10/16 at 100.00 
BBB+ 
376,088 
 
 
Society, Series 2005, 5.000%, 6/01/29 
 
 
 
 
 
Denver, Colorado, Airport System Revenue Bonds, Series 2006: 
 
 
 
4,060 
 
5.000%, 11/15/23 – FGIC Insured 
11/16 at 100.00 
AA– 
4,113,836 
6,800 
 
5.000%, 11/15/24 – FGIC Insured 
11/16 at 100.00 
AA– 
6,890,032 
8,940 
 
5.000%, 11/15/25 – FGIC Insured 
11/16 at 100.00 
AA– 
9,058,097 
660 
 
Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue 
12/20 at 100.00 
AA (4) 
804,045 
 
 
Refunding Bonds, Series 2011, 6.125%, 12/01/41 (Pre-refunded 12/01/20) – AGM Insured 
 
 
 
21,335 
 
Total Colorado 
 
 
21,811,363 
 
 
Florida – 1.4% (1.0% of Total Investments) 
 
 
 
105 
 
Marion County Hospital District, Florida, Revenue Bonds, Munroe Regional Medical Center, 
10/17 at 100.00 
BBB+ (4) 
110,502 
 
 
Refunding and Improvement 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 
1,589,280 
 
 
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– 
1,035,490 
 
 
Obligation Group, Refunding 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+ 
805,441 
 
 
Bonds, Series 2014A-1, 5.000%, 3/01/30 
 
 
 
700 
 
Tampa, Florida, Cigarette Tax Allocation Bonds, H. Lee Moffitt Cancer Center Project, 
9/22 at 100.00 
A+ 
829,213 
 
 
Refunding & Capital Improvement Series 2012A, 5.000%, 9/01/29 
 
 
 
4,010 
 
Total Florida 
 
 
4,369,926 
 
 
Georgia – 3.3% (2.3% 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 
10/16 at 100.00 
N/R 
2,363,941 
1,480 
 
5.000%, 2/01/34 – SYNCORA GTY Insured 
10/16 at 100.00 
N/R 
1,482,383 
1,000 
 
Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2006B, 5.000%, 3/15/20 
No Opt. Call 
1,111,130 
3,265 
 
Metropolitan Atlanta Rapid Transit Authority, Georgia, Sales Tax Revenue Bonds, Third 
7/26 at 100.00 
AA+ 
4,043,017 
 
 
Indenture, Series 2015B, 5.000%, 7/01/41 
 
 
 
1,425 
 
Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia 
10/21 at 100.00 
Aa2 
1,615,280 
 
 
Medical Center Project, Series 2011B, 5.000%, 10/01/41 
 
 
 
9,530 
 
Total Georgia 
 
 
10,615,751 
 
 
Hawaii – 1.0% (0.7% of Total Investments) 
 
 
 
2,750 
 
Hawaii State, Airport System Revenue Bonds, Series 2015A, 5.000%, 7/01/45 (Alternative 
7/25 at 100.00 
A+ 
3,231,800 
 
 
Minimum Tax) 
 
 
 
 
 
Idaho – 0.3% (0.2% of Total Investments) 
 
 
 
310 
 
Idaho Water Resource Board, Water Resource Loan Program Revenue, Ground Water Rights 
9/22 at 100.00 
Baa1 
353,140 
 
 
Mitigation Series 2012A, 5.000%, 9/01/32 
 
 
 
500 
 
Madison County, Idaho, Hospital Revenue Certificates of Participation, Madison Memorial 
9/16 at 100.00 
BB+ (4) 
502,105 
 
 
Hospital, Series 2006, 5.250%, 9/01/26 (Pre-refunded 9/01/16) 
 
 
 
810 
 
Total Idaho 
 
 
855,245 
 
 
Illinois – 17.4% (12.3% 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 
3,368,700 
3,000 
 
Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 
12/25 at 100.00 
B+ 
3,180,960 
 
 
2016A, 7.000%, 12/01/44 
 
 
 
4,100 
 
Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2011, 
12/21 at 100.00 
AA 
4,558,216 
 
 
5.250%, 12/01/40 
 
 
 
6,410 
 
Chicago, Illinois, Wastewater Transmission Revenue Bonds, Second Lien Series 2001A, 5.500%, 
No Opt. Call 
AA– 
7,864,942 
 
 
1/01/30 – NPFG Insured 
 
 
 
1,500 
 
Chicago, Illinois, Water Revenue Bonds, Senior Lien Series 2001, 5.750%, 11/01/30 – 
No Opt. Call 
Baa2 
1,830,570 
 
 
AMBAC Insured 
 
 
 
3,000 
 
Illinois Finance Authority, Revenue Bonds, University of Chicago, Refunding Series 2015A, 
10/25 at 100.00 
AA+ 
3,550,830 
 
 
5.000%, 10/01/46 
 
 
 
1,830 
 
Illinois Sports Facility Authority, State Tax Supported Bonds, Refunding Series 2014, 5.250%, 
6/24 at 100.00 
AA 
2,119,707 
 
 
6/15/32 – AGM Insured 
 
 
 
4,685 
 
Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2015A, 
7/25 at 100.00 
AA– 
5,637,179 
 
 
5.000%, 1/01/40 
 
 
 
 
 
Lombard Public Facilities Corporation, Illinois, Second Tier Conference Center and Hotel 
 
 
 
 
 
Revenue Bonds, Series 2005B: 
 
 
 
850 
 
5.250%, 1/01/25 (6) 
10/16 at 100.00 
259,216 
1,750 
 
5.250%, 1/01/30 (6) 
10/16 at 100.00 
533,680 
 
 
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion 
 
 
 
 
 
Project, Refunding Series 1996A: 
 
 
 
10,575 
 
0.000%, 12/15/23 – NPFG Insured 
No Opt. Call 
AA– 
8,538,149 
10,775 
 
0.000%, 12/15/24 – NPFG Insured 
No Opt. Call 
AA– 
8,381,118 
2,395 
 
Southwestern Illinois Development Authority, Local Government Revenue Bonds, Edwardsville 
No Opt. Call 
AA 
2,076,345 
 
 
Community Unit School District 7 Project, Series 2007, 0.000%, 12/01/22 – AGM Insured 
 
 
 
2,000 
 
Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2015, 5.000%, 3/01/40 – 
3/25 at 100.00 
AA 
2,363,920 
 
 
AGM Insured 
 
 
 
1,220 
 
University of Illinois, Health Services Facilities System Revenue Bonds, Series 2013, 
10/23 at 100.00 
1,489,315 
 
 
6.000%, 10/01/42 
 
 
 
57,090 
 
Total Illinois 
 
 
55,752,847 
 
 
Indiana – 2.8% (2.0% of Total Investments) 
 
 
 
6,180 
 
Crown Point Multi-School Building Corporation, Indiana, First Mortgage Bonds, Crown Point 
No Opt. Call 
AA+ 
5,512,622 
 
 
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+ 
1,706,325 
 
 
Project, Series 2013B, 5.000%, 7/01/40 (Alternative Minimum Tax) 
 
 
 
1,700 
 
Saint Joseph County, Indiana, Educational Facilities Revenue Bonds, University of Notre Dame 
3/18 at 100.00 
Aaa 
1,817,402 
 
 
du Lac Project, Refunding Series 2009, 5.000%, 3/01/36 
 
 
 
9,380 
 
Total Indiana 
 
 
9,036,349 
 
 
Iowa – 1.9% (1.3% of Total Investments) 
 
 
 
1,850 
 
Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company 
No Opt. Call 
B+ 
1,924,333 
 
 
Project, Series 2013, 5.000%, 12/01/19 
 
 
 
4,000 
 
Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C, 
10/16 at 100.00 
B+ 
4,000,240 
 
 
5.500%, 6/01/42 
 
 
 
5,850 
 
Total Iowa 
 
 
5,924,573 
 
 
Kansas – 1.8% (1.3% of Total Investments) 
 
 
 
5,000 
 
Wyandotte County/Kansas City Unified Government, Kansas, Utility System Revenue Bonds, 
No Opt. Call 
A+ 
5,896,650 
 
 
Improvement Series 2012B, 5.000%, 9/01/32 
 
 
 
10 
 
Wyandotte County-Kansas City Unified Government, Kansas, Sales Tax Special Obligation Capital 
No Opt. Call 
A– 
7,640 
 
 
Appreciation Revenue Bonds Redevelopment Project Area B – Major Multi-Sport Athletic Complex 
 
 
 
 
 
Project, Subordinate Lien Series 2010B, 0.000%, 6/01/21 
 
 
 
5,010 
 
Total Kansas 
 
 
5,904,290 
 
 
Kentucky – 4.4% (3.1% of Total Investments) 
 
 
 
 
 
Kenton County Airport Board, Kentucky, Airport Revenue Bonds, Cincinnati/Northern Kentucky 
 
 
 
 
 
International Airport, Series 2016: 
 
 
 
1,635 
 
5.000%, 1/01/25 
No Opt. Call 
A+ 
2,019,143 
600 
 
5.000%, 1/01/29 
1/26 at 100.00 
A+ 
734,814 
1,700 
 
Kentucky Economic Development Finance Authority, Hospital Facilities Revenue Bonds, Owensboro 
6/20 at 100.00 
BBB+ 
1,970,011 
 
 
Medical Health System, Series 2010A, 6.500%, 3/01/45 
 
 
 
 
 
Kentucky Municipal Power Agency, Power System Revenue Bonds, Prairie State Project 
 
 
 
 
 
Series 2007A: 
 
 
 
505 
 
5.000%, 9/01/37 (Pre-refunded 9/01/17) – NPFG Insured 
9/17 at 100.00 
AA– (4) 
529,371 
1,785 
 
5.000%, 9/01/37 (Pre-refunded 9/01/17) – NPFG Insured 
9/17 at 100.00 
AA– (4) 
1,871,144 
5,440 
 
Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds, 
7/23 at 100.00 
Baa3 
6,492,422 
 
 
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+ 
512,474 
 
 
Bonds, Sisters of Mercy of the Americas, Series 2006, 5.000%, 10/01/35 
 
 
 
12,175 
 
Total Kentucky 
 
 
14,129,379 
 
 
Louisiana – 3.6% (2.6% of Total Investments) 
 
 
 
2,930 
 
Ascension Parish Industrial development Board, Louisiana, Revenue Bonds, Impala Warehousing 
7/23 at 100.00 
N/R 
3,311,017 
 
 
(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 
3,204,316 
 
 
5.000%, 2/01/39 
 
 
 
1,085 
 
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, 
5/17 at 100.00 
A– 
1,120,176 
 
 
Series 2007A, 5.500%, 5/15/47 
 
 
 
415 
 
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, 
5/17 at 100.00 
N/R (4) 
431,546 
 
 
Series 2007A, 5.500%, 5/15/47 (Pre-refunded 5/15/17) 
 
 
 
330 
 
Louisiana Stadium and Exposition District, Revenue Refunding Bonds, Senior Lien Series 2013A, 
7/23 at 100.00 
383,272 
 
 
5.000%, 7/01/36 
 
 
 
1,000 
 
New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2012, 5.000%, 12/01/28 – 
12/22 at 100.00 
AA 
1,178,720 
 
 
AGM Insured 
 
 
 
1,200 
 
New Orleans, Louisiana, Water Revenue Bonds, Refunding Series 2014, 5.000%, 12/01/44 
12/24 at 100.00 
A– 
1,401,888 
485 
 
Saint Charles Parish, Louisiana, Gulf Opportunity Zone Revenue Bonds, Valero Project, Series 
No Opt. Call 
BBB 
540,969 
 
 
2010, 4.000%, 12/01/40 (Mandatory put 6/01/22) 
 
 
 
10,110 
 
Total Louisiana 
 
 
11,571,904 
 
 
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 
2,270,380 
 
 
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+ 
1,554,386 
1,020 
 
5.000%, 7/01/34 
No Opt. Call 
A+ 
1,224,938 
4,310 
 
Total Maine 
 
 
5,049,704 
 
 
Maryland – 1.9% (1.3% of Total Investments) 
 
 
 
5,000 
 
Baltimore, Maryland, Revenue Bonds, Wastewater Projects, Series 2014C, 5.000%, 7/01/44 
1/25 at 100.00 
AA– 
6,011,250 
 
 
Massachusetts – 2.6% (1.9% of Total Investments) 
 
 
 
7,500 
 
Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, 
1/20 at 100.00 
A+ 
8,417,775 
 
 
Refunding Senior Lien Series 2010B, 5.000%, 1/01/37 
 
 
 
 
 
Michigan – 3.2% (2.3% of Total Investments) 
 
 
 
1,500 
 
Michigan Finance Authority, Hospital Revenue Bonds, Sparrow Obligated Group, Series 2012, 
11/22 at 100.00 
A+ 
1,707,270 
 
 
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 
2,421,640 
 
 
5.000%, 10/01/31 
 
 
 
815 
 
Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Series 
12/16 at 100.00 
AA 
827,005 
 
 
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) 
187,831 
 
 
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 
B2 
5,162,050 
 
 
Series 2008A, 6.875%, 6/01/42 
 
 
 
9,500 
 
Total Michigan 
 
 
10,305,796 
 
 
Minnesota – 0.8% (0.6% 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 
843,528 
500 
 
5.000%, 10/01/35 
10/24 at 100.00 
A2 
600,040 
1,000 
 
Minnesota State, General Obligation Bonds, Various Purpose, Refunding Series 2010D, 
No Opt. Call 
AAA 
1,089,160 
 
 
5.000%, 8/01/18 
 
 
 
2,200 
 
Total Minnesota 
 
 
2,532,728 
 
 
Nebraska – 0.8% (0.5% of Total Investments) 
 
 
 
1,580 
 
Douglas County Hospital Authority 2, Nebraska, Health Facilities Revenue Bonds, Nebraska 
No Opt. Call 
N/R (4) 
1,601,188 
 
 
Medical Center, Series 2003, 5.000%, 11/15/16 (ETM) 
 
 
 
515 
 
Omaha Public Power District, Nebraska, Separate Electric System Revenue Bonds, Nebraska 
2/17 at 100.00 
AA+ (4) 
810,538 
 
 
City 2, Tender Option Bond Trust 2016-XF2220, Formerly Tender Option Bond Trust 11673, 
 
 
 
 
 
19.267%, 8/01/40 – BHAC Insured (Pre-refunded 2/01/17) (IF) 
 
 
 
2,095 
 
Total Nebraska 
 
 
2,411,726 
 
 
Nevada – 4.6% (3.3% 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+ 
4,631,760 
2,500 
 
Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran 
No Opt. Call 
A+ 
3,199,150 
 
 
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 
Aa1 
4,655,422 
 
 
5.000%, 6/01/39 
 
 
 
2,050 
 
Washoe County, Nevada, General Obligation Bonds, Reno-Sparks Convention & Visitors Authority, 
7/21 at 100.00 
AA 
2,376,524 
 
 
Refunding Series 2011, 5.000%, 7/01/32 
 
 
 
12,385 
 
Total Nevada 
 
 
14,862,856 
 
 
New Hampshire – 1.6% (1.2% of Total Investments) 
 
 
 
3,500 
 
New Hampshire Health and Education Facilities Authority, Revenue Bonds, Catholic Medical 
No Opt. Call 
A– 
3,699,255 
 
 
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+ (4) 
1,539,137 
 
 
Tender Option Bond Trust 2016-XL0025, 13.469%, 6/01/39 (Pre-refunded 6/01/19) (IF) (7) 
 
 
 
4,610 
 
Total New Hampshire 
 
 
5,238,392 
 
 
New Jersey – 6.7% (4.8% of Total Investments) 
 
 
 
1,865 
 
New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge 
1/24 at 100.00 
AA 
2,170,021 
 
 
Replacement Project, Series 2013, 5.125%, 1/01/39 – AGM Insured (Alternative Minimum Tax) 
 
 
 
2,000 
 
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Barnabas Health 
7/21 at 100.00 
A– 
2,375,900 
 
 
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– 
681,380 
 
 
Appreciation Series 2010A, 0.000%, 12/15/26 
 
 
 
 
 
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding 
 
 
 
 
 
Series 2006C: 
 
 
 
25,000 
 
0.000%, 12/15/35 – AMBAC Insured 
No Opt. Call 
A– 
11,771,250 
10,000 
 
0.000%, 12/15/36 – AMBAC Insured 
No Opt. Call 
A– 
4,493,000 
39,865 
 
Total New Jersey 
 
 
21,491,551 
 
 
New York – 6.6% (4.7% 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– 
757,515 
1,600 
 
0.000%, 7/15/44 
No Opt. Call 
BBB– 
490,976 
1,100 
 
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 
2/21 at 100.00 
1,301,707 
 
 
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– 
2,243,582 
 
 
2/15/47 – NPFG Insured 
 
 
 
425 
 
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006A, 
10/16 at 100.00 
AA+ 
426,594 
 
 
5.000%, 12/01/25 – FGIC Insured 
 
 
 
2,000 
 
New York Convention Center Development Corporation, New York, Hotel Unit Fee Secured Revenue 
11/25 at 100.00 
Aa3 
2,421,560 
 
 
Bonds, Refunding Series 2015, 5.000%, 11/15/45 
 
 
 
4,100 
 
New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade 
11/24 at 100.00 
N/R 
4,717,501 
 
 
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+ 
1,822,142 
 
 
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 
2,023,530 
 
 
Series 2005, 5.250%, 10/01/35 
 
 
 
3,480 
 
New York Transportation Development Corporation, Special Facilities Bonds, LaGuardia Airport 
7/24 at 100.00 
BBB 
4,044,352 
 
 
Terminal B Redevelopment Project, Series 2016A, 5.250%, 1/01/50 (Alternative Minimum Tax) 
 
 
 
500 
 
Onondaga Civic Development Corporation, New York, Revenue Bonds, Saint Joseph’s Hospital 
7/19 at 100.00 
N/R (4) 
564,895 
 
 
Health Center Project, Series 2014A, 5.125%, 7/01/31 (Pre-refunded 7/01/19) 
 
 
 
395 
 
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air 
12/20 at 100.00 
Baa1 
465,563 
 
 
Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42 
 
 
 
19,520 
 
Total New York 
 
 
21,279,917 
 
 
North Carolina – 5.7% (4.0% of Total Investments) 
 
 
 
 
 
North Carolina Department of Transportation, Private Activity Revenue Bonds, I-77 Hot Lanes 
 
 
 
 
 
Project, Series 2015: 
 
 
 
2,965 
 
5.000%, 12/31/37 (Alternative Minimum Tax) 
6/25 at 100.00 
BBB– 
3,408,475 
1,000 
 
5.000%, 6/30/54 (Alternative Minimum Tax) 
6/25 at 100.00 
BBB– 
1,127,110 
10,300 
 
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 1993B, 
No Opt. Call 
AA– (4) 
13,045,671 
 
 
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 
623,360 
 
 
2015A, 5.000%, 1/01/32 
 
 
 
14,765 
 
Total North Carolina 
 
 
18,204,616 
 
 
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) 
827,489 
 
 
Project, Refunding Series 2012A, 5.000%, 7/01/38 (Pre-refunded 7/01/22) 
 
 
 
 
 
Ohio – 4.4% (3.1% 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– 
4,049,529 
3,410 
 
5.875%, 6/01/47 
6/17 at 100.00 
B– 
3,408,227 
1,000 
 
JobsOhio Beverage System, Ohio, Statewide Liquor Profits Revenue Bonds, Senior Lien Series 
1/23 at 100.00 
AA 
1,174,020 
 
 
2013A, 5.000%, 1/01/38 
 
 
 
 
 
JobsOhio Beverage System, Ohio, Statewide Senior Lien Liquor Profits Revenue Bonds, Tender 
 
 
 
 
 
Option Bond Trust 2016-XG0052: 
 
 
 
1,315 
 
16.211%, 1/01/38 (IF) (7) 
1/23 at 100.00 
AA 
2,230,345 
625 
 
16.211%, 1/01/38 (IF) (7) 
1/23 at 100.00 
AA 
1,060,050 
265 
 
16.096%, 1/01/38 (IF) (7) 
1/23 at 100.00 
AA 
448,051 
1,210 
 
Ohio State, Private Activity Bonds, Portsmouth Gateway Group, LLC – Borrower, Portsmouth 
6/25 at 100.00 
A– 
1,391,996 
 
 
Bypass Project, Series 2015, 5.000%, 12/31/39 (Alternative Minimum Tax) 
 
 
 
250 
 
Port of Greater Cincinnati Development Authority, Ohio, Economic Development Revenue Bonds, 
10/16 at 100.00 
A+ 
251,770 
 
 
Sisters of Mercy of the Americas, Series 2006, 5.000%, 10/01/25 
 
 
 
12,175 
 
Total Ohio 
 
 
14,013,988 
 
 
Oklahoma – 2.1% (1.5% of Total Investments) 
 
 
 
450 
 
Norman Regional Hospital Authority, Oklahoma, Hospital Revenue Bonds, Series 2005, 
9/16 at 100.00 
BBB 
451,170 
 
 
5.375%, 9/01/36 
 
 
 
3,000 
 
Tulsa Airports Improvement Trust, Oklahoma, General Airport Revenue Bonds, Series 2013A, 
6/23 at 100.00 
AA 
3,471,450 
 
 
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+ 
2,748,253 
 
 
System, Series 2006, 5.000%, 12/15/36 
 
 
 
6,155 
 
Total Oklahoma 
 
 
6,670,873 
 
 
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 
2,518,300 
 
 
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 
4,400,270 
 
 
2015D, 5.000%, 4/01/29 
 
 
 
5,500 
 
Total Oregon 
 
 
6,918,570 
 
 
Pennsylvania – 1.9% (1.3% of Total Investments) 
 
 
 
4,500 
 
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2009C, 6.250%, 
6/26 at 100.00 
AA 
6,056,955 
 
 
6/01/33 – AGM Insured 
 
 
 
 
 
South Carolina – 2.3% (1.6% of Total Investments) 
 
 
 
2,620 
 
South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2013A, 
12/23 at 100.00 
AA– 
3,105,905 
 
 
5.125%, 12/01/43 
 
 
 
3,455 
 
South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2014A, 
6/24 at 100.00 
AA– 
4,165,832 
 
 
5.500%, 12/01/54 
 
 
 
6,075 
 
Total South Carolina 
 
 
7,271,737 
 
 
Tennessee – 1.6% (1.2% of Total Investments) 
 
 
 
150 
 
Johnson City Health and Educational Facilities Board, Tennessee, Hospital Revenue Refunding 
7/23 at 100.00 
AA– (4) 
150,587 
 
 
and Improvement Bonds, Johnson City Medical Center, Series 1998C, 5.125%, 7/01/25 
 
 
 
 
 
(Pre-refunded 7/01/23) – NPFG Insured 
 
 
 
4,000 
 
The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006A, 5.250%, 9/01/26 
No Opt. Call 
5,065,240 
4,150 
 
Total Tennessee 
 
 
5,215,827 
 
 
Texas – 9.6% (6.8% of Total Investments) 
 
 
 
4,280 
 
Austin Convention Enterprises Inc., Texas, Convention Center Hotel Revenue Bonds, First Tier 
1/17 at 100.00 
BBB– 
4,326,481 
 
 
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 
1,168,930 
 
 
5.000%, 7/10/37 – BAM Insured 
 
 
 
1,075 
 
Brazos River Authority, Texas, Pollution Control Revenue Bonds, TXU Energy Company LLC 
10/16 at 100.00 
18,232 
 
 
Project, Series 2003C, 6.750%, 10/01/38 (Alternative Minimum Tax) (8) 
 
 
 
2,600 
 
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A, 
7/25 at 100.00 
BBB+ 
3,116,880 
 
 
5.000%, 1/01/35 
 
 
 
3,750 
 
Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, First Tier Series 
10/23 at 100.00 
BBB+ 
4,286,663 
 
 
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 
2,947,554 
 
 
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+ 
621,930 
 
 
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– 
115,652 
4,440 
 
0.000%, 11/15/29 – NPFG Insured 
No Opt. Call 
AA– 
2,819,888 
600 
 
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Second Lien Series 
11/24 at 100.00 
A3 
708,756 
 
 
2014C, 5.000%, 11/15/33 
 
 
 
800 
 
Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds, 
11/20 at 100.00 
Baa1 
913,296 
 
 
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 
Ba2 
2,346,260 
 
 
6.125%, 12/01/38 
 
 
 
1,735 
 
New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue 
4/24 at 100.00 
AA 
1,978,820 
 
 
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 
A2 (4) 
1,019,531 
 
 
5.750%, 1/01/38 (Pre-refunded 1/01/18) 
 
 
 
1,000 
 
Sabine River Authority, Texas, Pollution Control Revenue Bonds, TXU Electric Company, Series 
10/16 at 100.00 
16,960 
 
 
2001C, 5.200%, 5/01/28 (8) 
 
 
 
125 
 
Tarrant County Cultural and Educational Facilities Finance Corporation, Texas, Revenue Bonds, 
2/17 at 100.00 
AA 
135,665 
 
 
Texas Health Resources Project, Tender Option Bond Trust 2016-XF0387, 16.600%, 2/15/36 (IF) (7) 
 
 
 
 
 
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Texas 
 
 
 
 
 
Health Resources, Series 2007A: 
 
 
 
1,400 
 
5.000%, 2/15/36 (UB) 
2/17 at 100.00 
AA 
1,429,862 
1,600 
 
5.000%, 2/15/36 (UB) 
2/17 at 100.00 
AA 
1,634,128 
1,000 
 
Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 
No Opt. Call 
A3 
1,139,550 
 
 
2012, 5.000%, 12/15/31 
 
 
 
31,750 
 
Total Texas 
 
 
30,745,038 
 
 
Utah – 2.6% (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+ 
1,191,270 
2,000 
 
Utah County, Utah, Hospital Revenue Bonds, IHC Health Services Inc., Series 2012, 
5/21 at 100.00 
AA+ 
2,305,580 
 
 
5.000%, 5/15/43 
 
 
 
4,110 
 
Utah Transit Authority, Sales Tax Revenue Bonds, Refunding Series 2012, 5.000%, 6/15/42 
6/22 at 100.00 
A+ 
4,765,751 
7,110 
 
Total Utah 
 
 
8,262,601 
 
 
Virginia – 1.5% (1.1% of Total Investments) 
 
 
 
1,765 
 
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, 95 Express Lanes LLC 
1/22 at 100.00 
BBB– 
1,951,561 
 
 
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 
2,924,662 
 
 
Crossing, Opco LLC Project, Series 2012, 5.500%, 1/01/42 (Alternative Minimum Tax) 
 
 
 
4,285 
 
Total Virginia 
 
 
4,876,223 
 
 
Washington – 2.1% (1.5% of Total Investments) 
 
 
 
2,000 
 
Energy Northwest, Washington, Electric Revenue Bonds, Columbia Generating Station, Refunding 
7/24 at 100.00 
Aa1 
2,414,760 
 
 
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) 
1,198,360 
 
 
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) 
1,927,048 
 
 
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 
1,167,660 
 
 
Series 2012A, 5.000%, 10/01/42 
 
 
 
5,590 
 
Total Washington 
 
 
6,707,828 
 
 
Wyoming – 0.4% (0.3% of Total Investments) 
 
 
 
1,350 
 
Sweetwater County, Wyoming, Solid Waste Disposal Revenue Bonds, FMC Corporation, Series 2005, 
10/16 at 100.00 
BBB 
1,355,279 
 
 
5.600%, 12/01/35 (Alternative Minimum Tax) 
 
 
 
$ 438,825 
 
Total Long-Term Investments (cost $393,145,794) 
 
 
443,910,113 
 
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
SHORT-TERM INVESTMENTS – 2.6% (1.8% of Total Investments) 
 
 
 
           
 
 
MUNICIPAL BONDS – 2.6% (1.8% of Total Investments) 
 
 
 
           
 
 
Illinois – 2.6% (1.8% of Total Investments) 
 
 
 
$ 7,500 
 
Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Variable Rate Demand 
12/24 at 100.00 
A-1 
$ 7,500,000 
 
 
Obligations, Tender Option Bond Floater Series 2015-XM0053, 0.690%, 12/01/49 (9) 
 
 
 
800 
 
Illinois Finance Authority, Revenue Bonds, University of Chicago, Variable Rate Demand 
7/18 at 100.00 
A-1 
800,000 
 
 
Obligations,Tender Option Bond Floater 2015-XM0114. Formerly Tender Option Bond Trust 3205, 
 
 
 
 
 
0.470%, 7/01/37 (9) 
 
 
 
$ 8,300 
 
Total Short-Term Investments (cost $8,300,000) 
 
 
8,300,000 
 
 
Total Investments (cost $401,445,794) – 141.2% 
 
 
452,210,113 
 
 
Floating Rate Obligations – (3.1)% 
 
 
(9,975,000) 
 
 
Variable Rate Demand Preferred Shares, at Liquidation Preference – (39.9)% (10) 
 
 
(127,700,000) 
 
 
Other Assets Less Liabilities – 1.8% 
 
 
5,688,971 
 
 
Net Assets Applicable to Common Shares – 100% 
 
 
$ 320,224,084 
 


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 
$ — 
$443,910,113 
$ — 
$443,910,113 
Short-Term Investments: 
 
 
 
 
Municipal Bonds 
— 
8,300,000 
— 
8,300,000 
Total 
$ — 
$452,210,113 
$ — 
$452,210,113 
 
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 difference 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, 2016, the cost of investments was $395,669,578.
Gross unrealized appreciation and gross unrealized depreciation of investments as of July 31, 2016, were as follows:
   
Gross unrealized: 
 
Appreciation 
$56,205,723 
Depreciation 
(9,640,200) 
Net unrealized appreciation (depreciation) of investments 
$46,565,523 
 
(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) 
 
For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group 
 
 
(“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This 
 
 
treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment 
 
 
policies. 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) 
 
The coupon for this security increased 0.25% effective January 1, 2016 and will increase an additional 
 
 
0.25% effective May 11, 2016. 
(6) 
 
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%. 
(7) 
 
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for 
 
 
investments in inverse floating rate transactions. 
(8) 
 
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. 
(9) 
 
Investment has a maturity of greater than one year, but has variable rate and demand features which qualify 
 
 
it as a short-term investment. The rate disclosed is that in effect at the end of the reporting period. This 
 
 
rate changes periodically based on market conditions or a specified market index. 
(10) 
 
Variable Rate Demand Preferred Shares, at Liquidation Preference as a percentage of Total Investments 
 
 
is 28.2% 
(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, 2016        
 
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, 2016        
 
By (Signature and Title) /s/ Stephen D. Foy                         
 
     Stephen D. Foy
     Vice President and Controller (principal financial officer)
                                                                                         
Date:         September 29, 2016