N-Q 1 nq2.htm NPV Unassociated Document



 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
 
Investment Company Act file number 811-7490
 
Nuveen Virginia Premium Income Municipal Fund
(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:            5/31          
 
Date of reporting period:         2/28/13         
 
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
 
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 
 
 

 
 
Item 1. Schedule of Investments
 
 

 
           
   
Portfolio of Investments (Unaudited)
     
           
   
   Nuveen Virginia Premium Income Municipal Fund (NPV)
     
   
February 28, 2013
     
 
 
Principal
   
Optional Call
   
Amount (000)
 
Description (1)
Provisions (2)
Ratings (3)
Value
   
Consumer Staples – 7.5% (5.1% of Total Investments)
     
   
Guam Economic Development & Commerce Authority, Tobacco Settlement Asset-Backed Bonds,
     
   
Series 2007A:
     
$ 910
 
5.250%, 6/01/32
6/17 at 100.00
B+
$ 886,795
700
 
5.625%, 6/01/47
6/17 at 100.00
B+
622,839
57,000
 
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Bonds, Series 2005A,
5/15 at 11.19
BB–
4,468,230
   
0.000%, 5/15/50
     
   
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds,
     
   
Series 2002:
     
3,310
 
5.375%, 5/15/33
5/13 at 100.00
BBB+
3,343,034
325
 
5.500%, 5/15/39
5/13 at 100.00
BBB
328,244
11,425
 
Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset Backed Bonds,
6/17 at 100.00
B2
9,499,545
   
Series 2007B1, 5.000%, 6/01/47
     
2,145
 
Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset-Backed Bonds,
6/17 at 100.00
B2
1,846,888
   
Series 2007B2, 5.200%, 6/01/46
     
75,815
 
Total Consumer Staples
   
20,995,575
   
Education and Civic Organizations – 8.6% (5.9% of Total Investments)
     
1,615
 
Alexandria Industrial Development Authority, Virginia, Educational Facilities Revenue Bonds,
No Opt. Call
A1
1,667,407
   
Episcopal High School, Series 2012, 3.750%, 1/01/30
     
580
 
Amherst Industrial Development Authority, Virginia, Revenue Bonds, Sweet Briar College, Series
9/16 at 100.00
BBB
610,839
   
2006, 5.000%, 9/01/26
     
2,000
 
District of Columbia, Revenue Bonds, National Public Radio, Series 2010A, 5.000%, 4/01/43
4/15 at 100.00
AA–
2,143,280
1,000
 
Fairfax County Economic Development Authority, Virginia, Revenue Bonds, National Wildlife
9/13 at 100.00
A3
1,003,870
   
Federation, Series 1999, 5.375%, 9/01/29 – NPFG Insured
     
1,000
 
Lexington Industrial Development Authority, Virginia, Educational Facilities Revenue Bonds,
6/19 at 100.00
Aa2
1,142,410
   
VMI Development Board Project, Series 2006C, 5.000%, 12/01/36
     
2,500
 
Prince William County Industrial Development Authority, Virginia, Educational Facilities
10/13 at 101.00
A2
2,554,850
   
Revenue Bonds, Catholic Diocese of Arlington, Series 2003, 5.500%, 10/01/33
     
1,630
 
Prince William County Industrial Development Authority, Virginia, Student Housing Revenue
9/21 at 100.00
A
1,816,472
   
Bonds, George Mason University Foundation Prince William Housing LLC Project, Series 2011A,
     
   
5.125%, 9/01/41
     
1,890
 
Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities
12/13 at 100.00
BBB–
1,905,290
   
Financing Authority, Higher Education Revenue Refunding Bonds, Ana G. Mendez University
     
   
System, Series 2002, 5.375%, 12/01/21
     
2,950
 
The Rector and Visitors of the University of Virginia, General Revenue Bonds, Series 2005,
6/15 at 100.00
AAA
3,205,736
   
5.000%, 6/01/37
     
390
 
University of Puerto Rico, University System Revenue Bonds, Series 2006P, 5.000%, 6/01/14
No Opt. Call
BBB–
398,510
3,600
 
Virginia College Building Authority, Educational Facilities Revenue Bonds, Public Higher
9/18 at 100.00
Aa1
4,195,800
   
Education Financing Program, Series 2009A, 5.000%, 9/01/28
     
750
 
Virginia College Building Authority, Educational Facilities Revenue Bonds, Public Higher
No Opt. Call
Aa1
768,548
   
Education Financing Program, Series 2010B, 5.000%, 9/01/13
     
500
 
Virginia College Building Authority, Educational Facilities Revenue Refunding Bonds, Marymount
7/13 at 100.00
N/R
501,230
   
University, Series 1998, 5.100%, 7/01/18 – RAAI Insured
     
1,635
 
Virginia Commonwealth University, Revenue Bonds, Series 2004A, 5.000%, 5/01/17 –
5/14 at 101.00
Aa2
1,739,313
   
AMBAC Insured
     
500
 
Virginia Small Business Finance Authority, Educational Facilities Revenue Bonds, Roanoke
4/20 at 100.00
A–
565,570
   
College, Series 2011, 5.750%, 4/01/41
     
22,540
 
Total Education and Civic Organizations
   
24,219,125
   
Health Care – 21.9% (15.0% of Total Investments)
     
5,000
 
Arlington County Industrial Development Authority, Virginia, Hospital Revenue Bonds, Virginia
7/20 at 100.00
A1
5,507,150
   
Hospital Center Arlington Health System, Refunding Series 2010, 5.000%, 7/01/31
     
   
Charlotte County Industrial Development Authority, Virginia, Hospital Revenue Bonds, Halifax
     
   
Regional Hospital Incorporated, Series 2007:
     
1,545
 
5.000%, 9/01/27
9/17 at 100.00
BBB+
1,637,237
250
 
5.000%, 9/01/37
9/17 at 100.00
BBB+
260,375
2,145
 
Chesterfield County Economic Development Authority, Virginia, Revenue Bonds, Bon Secours
11/20 at 100.00
AA–
2,366,643
   
Health, Series 2010C-2, 5.000%, 11/01/42 – AGC Insured
     
3,340
 
Fairfax County Industrial Development Authority, Virginia, Healthcare Revenue Bonds, Inova
5/19 at 100.00
AA+
4,860,368
   
Health System, Series 2009, Trust 11733, 15.066%, 11/15/29 (IF)
     
4,950
 
Fairfax County Industrial Development Authority, Virginia, Hospital Revenue Refunding Bonds,
No Opt. Call
AA+
6,207,548
   
Inova Health System, Series 1993A, 5.000%, 8/15/23
     
2,500
 
Fredericksburg Economic Development Authority, Virginia, Hospital Facilities Revenue Bonds,
No Opt. Call
Baa1
3,027,350
   
MediCorp Health System, Series 2007, 5.250%, 6/15/23
     
2,480
 
Fredericksburg Industrial Development Authority, Virginia, Revenue Bonds, MediCorp Health
6/13 at 100.00
BBB+
2,483,174
   
System, Series 2002B, 5.125%, 6/15/33
     
795
 
Hanover County Industrial Development Authority, Virginia, Hospital Revenue Bonds, Memorial
No Opt. Call
A–
882,760
   
Regional Medical Center, Series 1995, 6.375%, 8/15/18 – NPFG Insured
     
5,345
 
Harrisonburg Industrial Development Authority, Virginia, Hospital Facilities Revenue Bonds,
8/16 at 100.00
AA
5,897,513
   
Rockingham Memorial Hospital, Series 2006, 5.000%, 8/15/31 – AMBAC Insured
     
1,500
 
Henrico County Industrial Development Authority, Virginia, Healthcare Revenue Bonds, Bon
No Opt. Call
A–
1,766,940
   
Secours Health System, Series 1996, 6.250%, 8/15/20 – NPFG Insured
     
3,180
 
Manassas Industrial Development Authority, Virginia, Hospital Revenue Bonds, Prince William
4/13 at 100.00
A2
3,184,865
   
Hospital, Series 2002, 5.250%, 4/01/33
     
   
Stafford County Economic Development Authority, Virginia, Hospital Facilities Revenue Bonds,
     
   
MediCorp Health System, Series 2006:
     
2,000
 
5.250%, 6/15/25
6/16 at 100.00
Baa1
2,128,260
2,000
 
5.250%, 6/15/26
6/16 at 100.00
Baa1
2,123,820
2,025
 
5.250%, 6/15/31
6/16 at 100.00
Baa1
2,131,434
3,395
 
5.250%, 6/15/37
6/16 at 100.00
Baa1
3,551,917
2,550
 
Virginia Small Business Finance Authority, Healthcare Facilities Revenue Bonds, Sentara
5/20 at 100.00
AA
2,818,821
   
Healthcare, Refunding Series 2010, 5.000%, 11/01/40
     
4,425
 
Virginia Small Business Financing Authority, Wellmont Health System Project Revenue Bonds,
9/17 at 100.00
BBB+
4,614,921
   
Series 2007A, 5.250%, 9/01/37
     
1,620
 
Winchester Industrial Development Authority, Virginia, Hospital Revenue Bonds Valley Health
1/19 at 100.00
A+
1,858,869
   
System Obligated Group, Series 2009E, 5.625%, 1/01/44
     
2,855
 
Winchester Industrial Development Authority, Virginia, Hospital Revenue Bonds, Winchester
1/17 at 100.00
A+
3,130,222
   
Medical Center, Series 2007, 5.125%, 1/01/31
     
1,020
 
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care,
4/20 at 100.00
A
1,162,933
   
Inc., Series 2010A, 5.625%, 4/15/39
     
54,920
 
Total Health Care
   
61,603,120
   
Housing/Multifamily – 1.3% (0.8% of Total Investments)
     
970
 
Arlington County Industrial Development Authority, Virginia, Multifamily Housing Mortgage
3/13 at 101.00
AA+
982,174
   
Revenue Bonds, Arlington View Terrace Apartments, Series 2001, 5.150%, 11/01/31
     
   
(Mandatory put 11/01/19) (Alternative Minimum Tax)
     
400
 
Virginia Housing Development Authority, Rental Housing Bonds, Series 2010A, 5.000%, 4/01/45
10/19 at 100.00
AA+
430,156
530
 
Virginia Housing Development Authority, Rental Housing Bonds, Series 2010C, 4.550%, 8/01/32
2/20 at 100.00
AA+
570,365
1,440
 
Waynesboro Redevelopment and Housing Authority, Virginia, Multifamily Housing Revenue Bonds,
4/20 at 100.00
AA+
1,552,766
   
Epworth Manor, GNMA Collateralized Series 2010, 5.000%, 10/20/51
     
3,340
 
Total Housing/Multifamily
   
3,535,461
   
Housing/Single Family – 6.3% (4.3% of Total Investments)
     
250
 
Puerto Rico Housing Finance Authority, Mortgage-Backed Securities Program Home Mortgage
6/13 at 100.00
Aaa
250,683
   
Revenue Bonds, Series 2003A, 4.875%, 6/01/34 (Alternative Minimum Tax)
     
2,600
 
Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2005C-2, 4.750%,
1/15 at 100.00
AAA
2,647,814
   
10/01/32 (Alternative Minimum Tax)
     
3,615
 
Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2006D-1, 4.900%,
7/15 at 100.00
AAA
3,721,498
   
1/01/33 (Alternative Minimum Tax)
     
2,740
 
Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2006, 4.800%,
7/15 at 100.00
AAA
2,823,351
   
7/01/29 (Alternative Minimum Tax)
     
7,900
 
Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2007B, 4.750%,
7/16 at 100.00
AAA
8,156,908
   
7/01/32 (Alternative Minimum Tax)
     
17,105
 
Total Housing/Single Family
   
17,600,254
   
Long-Term Care – 8.3% (5.7% of Total Investments)
     
2,000
 
Albemarle County Industrial Development Authority, Virginia, Residential Care Facilities
1/17 at 100.00
N/R
2,047,200
   
Mortgage Revenue Bonds, Westminster-Canterbury of the Blue Ridge, Series 2007, 5.000%, 1/01/31
     
1,000
 
Chesterfield County Health Center Commission, Virginia, Mortgage Revenue Bonds, Lucy Corr
12/15 at 100.00
N/R
938,870
   
Village, Series 2005, 5.625%, 12/01/39
     
5,585
 
Fairfax County Economic Development Authority, Virginia, Residential Care Facilities Mortgage
10/17 at 100.00
BBB
5,807,953
   
Revenue Bonds, Goodwin House, Inc., Series 2007A, 5.125%, 10/01/37
     
   
Fairfax County Economic Development Authority, Virginia, Retirement Center Revenue Bonds,
     
   
Greenspring Village, Series 2006A:
     
1,000
 
4.750%, 10/01/26
10/16 at 100.00
A
1,046,110
800
 
4.875%, 10/01/36
10/16 at 100.00
A
829,272
   
Henrico County Economic Development Authority, Virginia, Residential Care Facility Revenue
     
   
Bonds, Westminster Canterbury of Richmond, Series 2006:
     
100
 
5.000%, 10/01/27
4/13 at 102.50
BBB
102,616
4,740
 
5.000%, 10/01/35
4/13 at 102.50
BBB
4,862,434
3,590
 
Industrial Development Authority of the County of Prince William, Virginia, Residential Care
1/17 at 100.00
N/R
2,725,349
   
Facility Revenue Bonds, Westminster at Lake, First Mortgage, Series 2006, 5.125%, 1/01/26
     
1,000
 
Roanoke Economic Development Authority, Virginia, Residential Care Facility Mortgage Revenue
12/22 at 100.00
N/R
1,007,360
   
Refunding Bonds, Virginia Lutheran Homes Brandon Oaks Project, Series 2012, 4.625%, 12/01/27
     
1,500
 
Roanoke Industrial Development Authority, Virginia, Residential Revenue Bonds, Virginia
12/16 at 100.00
N/R
1,491,120
   
Lutheran Homes Incorporated, Series 2006, 5.000%, 12/01/39
     
1,000
 
Suffolk Industrial Development Authority, Virginia, Retirement Facilities First Mortgage
9/16 at 100.00
N/R
1,028,800
   
Revenue Bonds, Lake Prince Center, Series 2006, 5.300%, 9/01/31
     
1,000
 
Virginia Beach Development Authority, Virginia, Residential Care Facility Mortgage Revenue
11/15 at 100.00
N/R
1,030,070
   
Bonds, Westminster Canterbury on Chesapeake Bay, Series 2005, 5.000%, 11/01/22
     
500
 
Winchester Industrial Development Authority, Virginia, Residential Care Facility Revenue
1/15 at 100.00
BBB+
513,235
   
Bonds, Westminster-Canterbury of Winchester Inc., Series 2005A, 5.200%, 1/01/27
     
23,815
 
Total Long-Term Care
   
23,430,389
   
Tax Obligation/General – 12.1% (8.3% of Total Investments)
     
1,440
 
Bristol, Virginia, General Obligation Bonds, Refunding & Improvement Series 2010,
7/20 at 100.00
Aa3
1,744,258
   
5.000%, 7/15/25
     
1,000
 
Loudoun County, Virginia, General Obligation Bonds, Public Improvement Series 2009A,
No Opt. Call
AAA
1,050,960
   
4.000%, 7/01/14
     
1,700
 
Loudoun County, Virginia, General Obligation Bonds, Series 2006B, 5.000%, 12/01/25
12/16 at 100.00
AAA
1,953,232
1,070
 
Norfolk, Virginia, General Obligation Bonds, Series 2005, 5.000%, 3/01/15 – NPFG Insured
No Opt. Call
AA+
1,169,371
6,050
 
Portsmouth, Virginia, General Obligation Bonds, Refunding Series 2010D, 5.000%, 7/15/34
7/20 at 100.00
AA
6,991,078
1,280
 
Portsmouth, Virginia, General Obligation Bonds, Series 2005A, 5.000%, 4/01/15 – NPFG Insured
No Opt. Call
AA
1,402,944
380
 
Puerto Rico Government Development Bank, Adjustable Refunding Bonds, Variable Rate Demand
12/13 at 100.00
BBB
385,700
   
Obligations, Series 1985, 4.750%, 12/01/15 – NPFG Insured
     
610
 
Puerto Rico, General Obligation and Public Improvement Bonds, Series 1998, 6.000%, 7/01/15 –
No Opt. Call
BBB
654,005
   
NPFG Insured
     
850
 
Puerto Rico, General Obligation and Public Improvement Bonds, Series 2002A, 5.500%, 7/01/20 –
No Opt. Call
BBB+
930,657
   
NPFG Insured
     
560
 
Puerto Rico, General Obligation Bonds, Series 2004A, 5.000%, 7/01/15 – AGM Insured
7/14 at 100.00
AA–
581,403
895
 
Richmond, Virginia, General Obligation Bonds, Refunding & Improvement Series 2012B,
No Opt. Call
AA+
901,372
   
2.000%, 7/15/13
     
1,150
 
Suffolk, Virginia, General Obligation Bonds, Public Improvements, Refunding Series 2010A,
No Opt. Call
AA+
1,173,897
   
5.000%, 8/01/13
     
1,535
 
Suffolk, Virginia, General Obligation Bonds, Series 2005, 5.000%, 12/01/15
No Opt. Call
AA+
1,729,300
2,000
 
Virginia Beach, Virginia, General Obligation Bonds, Series 2003B, 5.000%, 5/01/15
5/13 at 100.00
AAA
2,016,800
   
Virginia Beach, Virginia, General Obligation Bonds, Series 2008:
     
4,500
 
5.000%, 10/01/26 (UB)
10/17 at 100.00
AAA
5,199,930
4,500
 
5.000%, 10/01/27 (UB)
10/17 at 100.00
AAA
5,199,930
1,000
 
Virginia State, General Obligation Bonds, Series 2004B, 5.000%, 6/01/14
No Opt. Call
AAA
1,060,420
30,520
 
Total Tax Obligation/General
   
34,145,257
   
Tax Obligation/Limited – 33.7% (23.0% of Total Investments)
     
154
 
Bell Creek Community Development Authority, Virginia, Special Assessment Bonds, Series 2003A,
3/14 at 100.00
N/R
155,694
   
6.750%, 3/01/22
     
   
Buena Vista Public Recreational Facilities Authority, Virginia, Lease Revenue Bonds, Golf
     
   
Course Project, Series 2005A:
     
665
 
5.250%, 7/15/25 – ACA Insured
7/15 at 100.00
N/R
616,601
520
 
5.500%, 7/15/35 – ACA Insured
7/15 at 100.00
N/R
467,704
1,340
 
Culpeper Industrial Development Authority, Virginia, Lease Revenue Bonds, School Facilities
1/15 at 100.00
AA–
1,452,855
   
Project, Series 2005, 5.000%, 1/01/20 – NPFG Insured
     
1,375
 
Cumberland County, Virginia, Certificates of Participation, Series 1997, 6.375%, 7/15/17
No Opt. Call
N/R
1,518,908
600
 
Dulles Town Center Community Development Authority, Loudon County, Virginia Special Assessment
No Opt. Call
N/R
595,854
   
Refunding Bonds, Dulles Town Center Project, Series 2012, 4.250%, 3/01/26
     
2,300
 
Fairfax County Economic Development Authority, Virginia, Lease Revenue Bonds, Joint Public
5/16 at 100.00
AA+
2,585,315
   
Uses Community Project, Series 2006, 5.000%, 5/15/18
     
   
Government of Guam, Business Privilege Tax Bonds, Series 2011A:
     
1,020
 
5.000%, 1/01/31
1/22 at 100.00
A
1,149,071
500
 
5.250%, 1/01/36
1/22 at 100.00
A
565,820
5,600
 
Greater Richmond Convention Center Authority, Virginia, Hotel Tax Revenue Bonds, Series 2005,
6/15 at 100.00
A+
6,029,464
   
5.000%, 6/15/30 – NPFG Insured
     
1,270
 
James City County Economic Development Authority, Virginia, Lease Revenue Bonds, County
7/15 at 100.00
AA+
1,401,140
   
Government Projects, Series 2005, 5.000%, 7/15/19
     
890
 
Montgomery County Industrial Development Authority, Virginia, Public Facility Lease Revenue
2/18 at 100.00
AA–
982,275
   
Bonds, Public Projects Series 2008, 5.000%, 2/01/29
     
580
 
Prince William County, Virginia, Certificates of Participation, County Facilities, Series
6/15 at 100.00
Aa1
636,132
   
2005, 5.000%, 6/01/20 – AMBAC Insured
     
2,895
 
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2002D, 5.000%,
7/13 at 100.00
AA–
2,896,071
   
7/01/32 – AGM Insured
     
680
 
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2003G,
7/13 at 100.00
BBB
672,683
   
5.000%, 7/01/33
     
   
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N:
     
645
 
5.500%, 7/01/29 – AMBAC Insured
No Opt. Call
Baa3
672,961
1,465
 
5.250%, 7/01/30 – AMBAC Insured
No Opt. Call
BBB
1,487,458
5,565
 
5.250%, 7/01/31 – AMBAC Insured
No Opt. Call
BBB
5,646,694
955
 
Puerto Rico Highway and Transportation Authority, Subordinate Lien Highway Revenue Bonds,
7/13 at 100.00
BBB–
954,885
   
Series 1998, 5.000%, 7/01/28
     
   
Puerto Rico Highway and Transportation Authority, Subordinate Lien Highway Revenue Bonds,
     
   
Series 2003:
     
1,000
 
5.250%, 7/01/15 – FGIC Insured
7/13 at 100.00
BBB–
1,011,860
1,500
 
5.250%, 7/01/17 – FGIC Insured
7/13 at 100.00
BBB–
1,516,485
   
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A:
     
5,000
 
0.000%, 7/01/29 – AMBAC Insured
No Opt. Call
BBB+
1,968,900
5,000
 
0.000%, 7/01/43 – AMBAC Insured
No Opt. Call
BBB+
732,850
   
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005C:
     
2,000
 
5.500%, 7/01/26 – AMBAC Insured
No Opt. Call
BBB+
2,099,360
5,875
 
0.000%, 7/01/28 – AMBAC Insured
No Opt. Call
BBB+
2,471,260
2,900
 
Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Bonds, Series
7/18 at 100.00
BBB
3,054,367
   
2007M, 6.000%, 7/01/27 – NPFG Insured
     
   
Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Refunding
     
   
Bonds, Series 2002D:
     
665
 
5.250%, 7/01/27
7/13 at 100.00
BBB–
665,093
320
 
5.250%, 7/01/36
7/13 at 100.00
BBB–
320,010
   
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate
     
   
Series 2009A:
     
1,190
 
5.750%, 8/01/37
8/19 at 100.00
A+
1,287,663
3,400
 
6.000%, 8/01/42
8/19 at 100.00
A+
3,756,490
3,705
 
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series
2/20 at 100.00
A+
3,949,308
   
2010A, 5.500%, 8/01/42
     
3,195
 
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series
8/20 at 100.00
A+
3,574,694
   
2010C, 6.000%, 8/01/39
     
10,000
 
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%,
No Opt. Call
AA–
2,096,200
   
8/01/41 – NPFG Insured
     
1,000
 
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 1996Y,
No Opt. Call
BBB+
1,015,030
   
6.250%, 7/01/13
     
5
 
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA,
No Opt. Call
BBB+
5,464
   
5.500%, 7/01/18 – NPFG Insured
     
   
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2005BB:
     
1,080
 
5.250%, 7/01/17 – AMBAC Insured
No Opt. Call
BBB+
1,160,417
1,290
 
5.250%, 7/01/22 – AGM Insured
No Opt. Call
AA–
1,467,956
   
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2007CC:
     
760
 
5.500%, 7/01/28 – NPFG Insured
No Opt. Call
Baa2
791,608
1,000
 
5.500%, 7/01/30 – AGM Insured
No Opt. Call
AA–
1,148,880
2,490
 
Stafford County and Staunton Industrial Development Authority, Virginia, Revenue Bonds,
8/16 at 100.00
Baa2
2,699,881
   
Virginia Municipal League and Virginia Association of Counties Finance Program, Series 2006A,
     
   
5.000%, 8/01/23 – NPFG Insured
     
500
 
Stafford County and Staunton Industrial Development Authority, Virginia, Revenue Bonds,
2/17 at 100.00
BBB
526,800
   
Virginia Municipal League and Virginia Association of Counties Finance Program, Series 2007C,
     
   
5.000%, 2/01/37 – SYNCORA GTY Insured
     
5,000
 
Stafford County Economic Development Authority, Virginia, Lease Revenue Bonds, Public Facility
4/18 at 100.00
AA
5,574,251
   
Projects, Series 2008, 5.000%, 4/01/33 – AGC Insured (UB)
     
1,550
 
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Series 2003, 5.000%,
10/14 at 100.00
BBB+
1,612,434
   
10/01/31 – ACA Insured
     
1,000
 
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Series 2009B,
10/19 at 100.00
BBB+
1,103,060
   
5.000%, 10/01/25
     
1,950
 
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Subordinate
10/20 at 100.00
Baa2
2,123,472
   
Lien Series 2010B, 5.250%, 10/01/29
     
1,665
 
Virginia College Building Authority, Educational Facilities Revenue Bonds, 21st Century
2/19 at 100.00
AA+
2,512,485
   
College Program, Series 2009, Trust 09-3B, 13.655%, 2/01/27 (IF) (5)
     
1,665
 
Virginia College Building Authority, Educational Facilities Revenue Bonds, 21st Century
2/19 at 100.00
AA+
2,493,338
   
College Program, Series 2009, Trust 09-4B, 13.735%, 2/01/28 (IF) (5)
     
500
 
Virginia Commonwealth Transportation Board, Federal Transportation Grant Anticipation Revenue
No Opt. Call
Aa1
536,700
   
Notes, Series 2012A, 5.000%, 9/15/14
     
825
 
Virginia Public Building Authority, Public Facilities Revenue Bonds, Series 2007A,
No Opt. Call
AA+
881,232
   
5.000%, 8/01/14
     
475
 
Virginia Public Building Authority, Public Facilities Revenue Bonds, Series 2008B,
No Opt. Call
AA+
507,376
   
5.000%, 8/01/14
     
750
 
Virginia Public School Authority, Literary Trust Fund State Appropriation Bonds, School
No Opt. Call
AA+
754,800
   
Technology Notes, Series 2008-VIII, 5.000%, 4/15/13
     
1,500
 
Virginia Public School Authority, School Financing Bonds, 1997 Resolution, Series 2005B,
No Opt. Call
AA+
1,532,700
   
5.250%, 8/01/13
     
1,000
 
Virginia Public School Authority, School Financing Bonds, 1997 Resolution, Series 2007B,
No Opt. Call
AA+
1,067,870
   
5.000%, 8/01/14
     
2,000
 
Virginia Public School Authority, School Financing Bonds, 1997 Resolution, Series 2009C,
No Opt. Call
AA+
2,041,560
   
5.000%, 8/01/13
     
95
 
Virginia Resources Authority, Infrastructure Revenue Bonds, Pooled Loan Bond Program, Series
5/18 at 100.00
AA
95,401
   
2002A, 5.000%, 5/01/19
     
600
 
Virginia Transportation Board, Transportation Revenue Bonds, Capital Projects, Series 2010-A1,
No Opt. Call
AA+
606,258
   
5.000%, 5/15/13
     
2,000
 
Virginia Transportation Board, Transportation Revenue Bonds, U.S. Route 58 Corridor
5/14 at 100.00
AA+
2,115,940
   
Development Program, Series 2004B, 5.000%, 5/15/15
     
1,275
 
Virginia Transportation Board, Transportation Revenue Bonds, U.S. Route 58 Corridor
No Opt. Call
AA+
1,288,297
   
Development Program, Series 2007B, 5.000%, 5/15/13
     
106,744
 
Total Tax Obligation/Limited
   
94,655,335
   
Transportation – 19.2% (13.1% of Total Investments)
     
1,000
 
Capital Region Airport Authority, Richmond, Virginia, Revenue Bonds, Richmond International
7/15 at 100.00
AA–
1,086,260
   
Airport, Series 2005A, 5.000%, 7/01/18 – AGM Insured
     
1,000
 
Chesapeake Bay Bridge and Tunnel Commission, Virginia, General Resolution Revenue Refunding
No Opt. Call
A–
1,183,000
   
Bonds, Series 1998, 5.500%, 7/01/25 – NPFG Insured
     
4,125
 
Chesapeake, Virginia, Transportation System Senior Toll Road Revenue Bonds, Capital
7/28 at 100.00
BBB
2,503,421
   
Appreciation Series 2012B, 0.000%, 7/15/40
     
   
Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Capital
     
   
Appreciation Series 2009B-2:
     
4,000
 
0.000%, 10/01/26 – AGC Insured
No Opt. Call
AA–
2,275,080
11,825
 
0.000%, 10/01/34 – AGC Insured
No Opt. Call
AA–
4,270,599
1,135
 
0.000%, 10/01/36 – AGC Insured
No Opt. Call
AA–
368,046
5,010
 
0.000%, 10/01/39 – AGC Insured
No Opt. Call
AA–
1,315,325
6,700
 
Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles
10/28 at 100.00
BBB+
5,914,358
   
Metrorail Capital Appreciation, Series 2010B, 0.000%, 10/01/44
     
750
 
Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding
10/20 at 100.00
AA–
864,338
   
Series 2010B, 5.000%, 10/01/26 (Alternative Minimum Tax)
     
1,200
 
Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Series 2009C,
10/18 at 100.00
AA–
1,388,364
   
5.000%, 10/01/28
     
   
Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Series 2010A:
     
3,000
 
5.000%, 10/01/30
10/20 at 100.00
AA–
3,515,160
420
 
5.000%, 10/01/35
10/20 at 100.00
AA–
478,628
2,500
 
Metropolitan Washington D.C. Airports Authority, System Revenue Bonds, Series 2007B, 5.000%,
10/17 at 100.00
AA–
2,692,325
   
10/01/35 – AMBAC Insured (Alternative Minimum Tax)
     
3,000
 
Norfolk, Virginia, Parking System Revenue Bonds, Series 2005A, 5.000%, 2/01/23 – NPFG Insured
2/15 at 100.00
Baa2
3,106,800
3,000
 
Richmond Metropolitan Authority, Virginia, Revenue Refunding Bonds, Expressway System, Series
No Opt. Call
A–
3,495,120
   
2002, 5.250%, 7/15/22 – FGIC Insured
     
3,195
 
Virginia Port Authority, Port Facilities Revenue Refunding Bonds Series 2010, 5.000%, 7/01/40
7/19 at 100.00
Aa3
3,546,801
3,415
 
Virginia Port Authority, Revenue Bonds, Port Authority Facilities, Series 2006, 5.000%,
7/13 at 100.00
Aa3
3,455,775
   
7/01/36 – FGIC Insured (Alternative Minimum Tax)
     
   
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River
     
   
Crossing, Opco LLC Project, Series 2012:
     
500
 
5.250%, 1/01/32 (Alternative Minimum Tax)
7/22 at 100.00
BBB–
556,540
5,000
 
6.000%, 1/01/37 (Alternative Minimum Tax)
7/22 at 100.00
BBB–
5,815,150
5,500
 
5.500%, 1/01/42 (Alternative Minimum Tax)
7/22 at 100.00
BBB–
6,092,295
66,275
 
Total Transportation
   
53,923,385
   
U.S. Guaranteed – 20.2% (13.8% of Total Investments) (4)
     
1,750
 
Bristol, Virginia, General Obligation Utility System Revenue Bonds, Series 2002, 5.000%,
No Opt. Call
AA- (4)
2,191,980
   
11/01/24 – AGM Insured (ETM)
     
1,000
 
Bristol, Virginia, Utility System Revenue Refunding Bonds, Series 2001, 5.000%, 7/15/21 – AGM
No Opt. Call
AA- (4)
1,206,240
   
Insured (ETM)
     
   
Bristol, Virginia, Utility System Revenue Refunding Bonds, Series 2003:
     
1,705
 
5.250%, 7/15/14 (Pre-refunded 7/15/13) – NPFG Insured
7/13 at 100.00
Baa2 (4)
1,738,094
1,800
 
5.250%, 7/15/15 (Pre-refunded 7/15/13) – NPFG Insured
7/13 at 100.00
Baa2 (4)
1,834,938
2,775
 
5.250%, 7/15/23 (Pre-refunded 7/15/13) – NPFG Insured
7/13 at 100.00
Baa2 (4)
2,828,863
1,122
 
Broad Street Community Development Authority, Virginia, Revenue Bonds, Series 2003, 7.500%,
6/13 at 102.00
N/R (4)
1,164,928
   
6/01/33 (Pre-refunded 6/01/13)
     
   
Chesapeake, Virginia, General Obligation Bonds, Water and Sewerage Series 2003B:
     
1,880
 
5.000%, 6/01/21 (Pre-refunded 6/01/13)
6/13 at 100.00
AA+ (4)
1,903,744
2,060
 
5.000%, 6/01/23 (Pre-refunded 6/01/13)
6/13 at 100.00
AA+ (4)
2,086,018
   
Dinwiddie County Industrial Development Authority, Virginia, Lease Revenue Bonds, Refunding
     
   
Series 2004B:
     
1,000
 
5.125%, 2/15/16 (Pre-refunded 2/15/14) – NPFG Insured
2/14 at 100.00
A+ (4)
1,043,130
750
 
5.000%, 2/15/24 (Pre-refunded 2/15/14) – NPFG Insured
2/14 at 100.00
A+ (4)
781,448
   
Fairfax County Economic Development Authority, Virginia, Lease Revenue Bonds, Laurel Hill
     
   
Public Facilities Projects, Series 2003:
     
2,210
 
5.000%, 6/01/14 (Pre-refunded 6/01/13)
6/13 at 101.00
AA+ (4)
2,259,836
1,165
 
5.000%, 6/01/22 (Pre-refunded 6/01/13)
6/13 at 101.00
AA+ (4)
1,191,271
1,660
 
Front Royal and Warren County Industrial Development Authority, Virginia, Lease Revenue Bonds,
4/14 at 100.00
AA- (4)
1,744,876
   
Series 2004B, 5.000%, 4/01/18 (Pre-refunded 4/01/14) – AGM Insured
     
1,000
 
Loudoun County Sanitation Authority, Virginia, Water and Sewerage System Revenue Bonds, Series
1/15 at 100.00
AAA
1,085,960
   
2004, 5.000%, 1/01/26 (Pre-refunded 1/01/15)
     
500
 
Loudoun County, Virginia, General Obligation Public Improvement Bonds, Series 2005B, 5.000%,
6/15 at 100.00
AAA
552,610
   
6/01/18 (Pre-refunded 6/01/15)
     
1,185
 
Lynchburg, Virginia, General Obligation Bonds, Series 2004, 5.000%, 6/01/21
6/14 at 100.00
AA+ (4)
1,255,484
   
(Pre-refunded 6/01/14)
     
1,000
 
Newport News, Virginia, General Obligation Bonds, Series 2003B, 5.000%, 11/01/22
11/13 at 100.00
Aa1 (4)
1,032,650
   
(Pre-refunded 11/01/13)
     
1,000
 
Newport News, Virginia, General Obligation Bonds, Series 2004A, 5.000%, 7/15/17
7/14 at 101.00
Aa1 (4)
1,075,850
   
(Pre-refunded 7/15/14)
     
2,145
 
Newport News, Virginia, General Obligation Bonds, Series 2004C, 5.000%, 5/01/16
5/14 at 101.00
Aa1 (4)
2,286,956
   
(Pre-refunded 5/01/14)
     
1,015
 
Puerto Rico Housing Finance Authority, Capital Fund Program Revenue Bonds, Series 2003,
12/13 at 100.00
Aaa
1,051,560
   
5.000%, 12/01/18 (Pre-refunded 12/01/13)
     
145
 
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA,
No Opt. Call
Baa2 (4)
180,651
   
5.500%, 7/01/18 – NPFG Insured (ETM)
     
710
 
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2005BB,
No Opt. Call
AA- (4)
928,275
   
5.250%, 7/01/22 – AGM Insured (ETM)
     
1,480
 
Richmond, Virginia, General Obligation Bonds, Series 2004A, 5.000%, 7/15/21 (Pre-refunded
7/14 at 100.00
AA+ (4)
1,578,568
   
7/15/14) – AGM Insured
     
620
 
Richmond, Virginia, General Obligation Bonds, Series 2005A, 5.000%, 7/15/17 (Pre-refunded
7/15 at 100.00
AA+ (4)
688,615
   
7/15/15) – AGM Insured
     
   
Spotsylvania County Industrial Development Authority, Virginia, Lease Revenue Bonds, School
     
   
Facilities, Series 2003B:
     
1,110
 
4.375%, 8/01/20 (Pre-refunded 8/01/13) – AMBAC Insured
8/13 at 100.00
N/R (4)
1,129,447
2,000
 
5.125%, 8/01/23 (Pre-refunded 8/01/13) – AMBAC Insured
8/13 at 100.00
N/R (4)
2,041,400
710
 
Stafford County and Staunton Industrial Development Authority, Virginia, Revenue Bonds,
8/16 at 100.00
Baa2 (4)
814,753
   
Virginia Municipal League and Virginia Association of Counties Finance Program, Series 2006A,
     
   
5.000%, 8/01/23 (Pre-refunded 8/01/16) – NPFG Insured
     
1,000
 
Staunton, Virginia, General Obligation Bonds, Series 2004, 6.250%, 2/01/25 (Pre-refunded
2/14 at 101.00
Aa2 (4)
1,066,370
   
2/01/14) – AMBAC Insured
     
1,260
 
The Rector and Visitors of the University of Virginia, General Pledge Revenue Bonds, Series
6/13 at 100.00
N/R (4)
1,275,649
   
2003B, 5.000%, 6/01/21 (Pre-refunded 6/01/13)
     
   
Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset-Backed Bonds,
     
   
Series 2005:
     
6,510
 
5.500%, 6/01/26 (Pre-refunded 6/01/15)
6/15 at 100.00
Aaa
6,972,470
1,860
 
5.625%, 6/01/37 (Pre-refunded 6/01/15)
6/15 at 100.00
Aaa
2,079,145
2,295
 
Virginia Beach Development Authority, Public Facilities Revenue Bonds, Series 2005A, 5.000%,
5/15 at 100.00
AA+ (4)
2,527,874
   
5/01/22 (Pre-refunded 5/01/15)
     
2,100
 
Virginia Beach, Virginia, General Obligation Bonds, Series 2005, 5.000%, 1/15/20
1/16 at 100.00
AAA
2,372,559
   
(Pre-refunded 1/15/16)
     
2,540
 
Virginia Public School Authority, School Financing Bonds, 1997 Resolution, Series 2005C,
8/15 at 100.00
AA+ (4)
2,819,527
   
5.000%, 8/01/17 (Pre-refunded 8/01/15)
     
53,062
 
Total U.S. Guaranteed
   
56,791,739
   
Utilities – 0.7% (0.5% of Total Investments)
     
395
 
Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/34
10/22 at 100.00
BBB
438,391
200
 
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2004OO, 5.000%, 7/01/13 –
No Opt. Call
AA–
202,266
   
CIFG Insured
     
655
 
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2007UU, 5.000%, 7/01/19 –
No Opt. Call
BBB+
711,422
   
NPFG Insured
     
730
 
Virgin Islands Water and Power Authority, Electric System Revenue Bonds, Refunding Series
7/17 at 100.00
Baa3
771,909
   
2007A, 5.000%, 7/01/24
     
1,980
 
Total Utilities
   
2,123,988
   
Water and Sewer – 6.6% (4.5% of Total Investments)
     
1,000
 
Fairfax County, Virginia, Sewerage Revenue Bonds, Series 2004, 5.000%, 7/15/27
No Opt. Call
AAA
1,060,080
4,000
 
Hampton Roads Sanitation District, Virginia, Wastewater Revenue Bonds, Series 2012A,
No Opt. Call
AAA
4,586,760
   
5.000%,1/01/39
     
   
Henry County Public Service Authority, Virginia, Water and Sewerage Revenue Refunding Bonds,
     
   
Series 2001:
     
1,265
 
5.500%, 11/15/17 – AGM Insured
No Opt. Call
AA–
1,476,330
3,000
 
5.500%, 11/15/19 – AGM Insured
No Opt. Call
AA–
3,662,009
3,300
 
Virginia Beach, Virginia, Water and Sewer System Revenue Bonds, Series 2005, 5.000%, 10/01/30
10/15 at 100.00
AAA
3,647,324
3,050
 
Virginia State Resources Authority, Clean Water Revenue Bonds, Series 2007, Trust 3036,
No Opt. Call
AAA
4,156,296
   
13.588%, 10/01/15 (IF)
     
15,615
 
Total Water and Sewer
   
18,588,799
$ 471,731
 
Total Investments (cost $384,002,538) – 146.4%
   
411,612,427
   
Floating Rate Obligations – (3.3)%
   
(9,250,000)
   
MuniFund Term Preferred Shares, at Liquidation Value – (45.3)% (6)
   
(127,408,000)
   
Other Assets Less Liabilities - 2.2%
   
6,150,821
   
Net Assets Applicable to Common Shares - 100%
   
$ 281,105,248
 
 
 
 
 

 
 
 

Fair Value Measurements
 
Fair value is defined as the price that the Funds would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the hree-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
$ —
$411,612,427
$ —
$411,612,427
 
 
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 February 28, 2013, the cost of investments was $374,471,622.
 
Gross unrealized appreciation and gross unrealized depreciation of investments as of February 28, 2013, were as follows:
 
   
Gross unrealized:
 
Appreciation
$32,604,412
Depreciation
(4,713,608)
Net unrealized appreciation (depreciation) of investments
$27,890,804
 
 
     
(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)
 
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for
   
investments in inverse floating rate transactions.
(6)
 
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 31.0%
N/R
 
Not rated.
(ETM)
 
Escrowed to maturity.
(IF)
 
Inverse floating rate investment.
(UB)
 
Underlying bond of an inverse floating rate trust reflected as a financing transaction.
 
 
 
 

 
 
Item 2. Controls and Procedures.

a.  
The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
 
 
b.  
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
 
Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.

 
 
 

 
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
(Registrant)  Nuveen Virginia Premium Income Municipal Fund 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date:         April 29, 2013        
 
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
 
By (Signature and Title)     /s/ Gifford R. Zimmerman                    
                                                    Gifford R. Zimmerman
                                                  Chief Administrative Officer (principal executive officer) 
 
Date:         April 29, 2013        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date:         April 29, 2013