UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

OMB APPROVAL

 

OMB Number:    3235-0578
Expires:    February 28, 2006
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FORM N-Q

 

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number

811-5785

 

 

Colonial Investment Grade Municipal Trust

(Exact name of registrant as specified in charter)

 

One Financial Center, Boston, Massachusetts

 

02111

(Address of principal executive offices)

 

(Zip code)

 

James R. Bordewick, Jr., Esq.

Columbia Management Advisors, LLC

One Financial Center

Boston, MA 02111

(Name and address of agent for service)

 

Registrant’s telephone number, including area code:

1-617-426-3750

 

 

Date of fiscal year end:

11/30/06

 

 

 

 

Date of reporting period:

2/28/06

 

 



 

Item 1. Schedule of Investments.

 



 

INVESTMENT PORTFOLIO

 

February 28, 2006 (Unaudited)

Colonial Investment Grade Municipal Trust

 

 

 

 

 

Par ($)

 

Value ($)*

 

Municipal Bonds – 142.0%

 

 

 

 

 

 

 

EDUCATION – 8.5%

 

 

 

 

 

 

 

Education – 4.9%

 

 

 

 

 

 

 

FL Broward County Educational Facilities Authority

 

 

 

 

 

 

 

 

 

Nova Southeastern University,

 

 

 

 

 

 

 

Series 2004 B,

 

 

 

 

 

 

 

5.500% 04/01/24

 

155,000

 

163,664

 

IL Chicago State University

 

 

 

 

 

 

 

 

 

Series 1998,

 

 

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

 

 

5.500% 12/01/23

 

1,085,000

 

1,269,190

 

PA Higher Education Facilities Authority

 

 

 

 

 

 

 

 

 

Philadelphia University,

 

 

 

 

 

 

 

Series 2004 A,

 

 

 

 

 

 

 

5.125% 06/01/25

 

500,000

 

506,170

 

TN Metropolitan Government, Nashville & Davidson County, Health & Educational Facilities Board

 

 

 

 

 

 

 

 

 

Meharry Medical College,

 

 

 

 

 

 

 

Series 1996,

 

 

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

 

 

6.000% 12/01/16

 

1,575,000

 

1,830,118

 

TX Texas Tech University

 

 

 

 

 

 

 

 

 

Series 1999,

 

 

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

 

 

5.000% 02/15/29

 

2,500,000

 

2,605,025

 

Education Total

 

6,374,167

 

Prep School – 1.1%

 

 

 

 

 

 

 

MA Industrial Finance Agency

 

 

 

 

 

 

 

 

 

Tabor Academy,

 

 

 

 

 

 

 

Series 1998,

 

 

 

 

 

 

 

5.400% 12/01/28

 

1,000,000

 

1,052,630

 

NH Business Finance Authority

 

 

 

 

 

 

 

 

 

Proctor Academy,

 

 

 

 

 

 

 

Series 1998 A,

 

 

 

 

 

 

 

5.400% 06/01/17

 

365,000

 

375,954

 

Prep School Total

 

1,428,584

 

Student Loan – 2.5%

 

 

 

 

 

 

 

CT Higher Education Supplemental Loan Authority

 

 

 

 

 

 

 

 

 

Senior Family Education Loan Program,

 

 

 

 

 

Series A,

 

 

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

 

 

4.250% 11/15/19

 

1,700,000

 

1,701,751

 

NE Nebhelp, Inc.

 

 

 

 

 

 

 

 

 

Series 1993 A-6, AMT,

 

 

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

 

 

1



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

EDUCATION – (continued)

 

 

 

 

 

 

 

Student Loan – (continued)

 

 

 

 

 

 

 

 

 

6.450% 06/01/18

 

1,500,000

 

1,527,420

 

Student Loan Total

 

3,229,171

 

EDUCATION TOTAL

 

11,031,922

 

HEALTH CARE – 26.0%

 

 

 

 

 

 

 

Continuing Care Retirement – 8.0%

 

 

 

 

 

 

 

CA La Verne

 

 

 

 

 

 

 

 

 

Brethren Hillcrest Homes,

 

 

 

 

 

 

 

Series 2003 B,

 

 

 

 

 

 

 

6.625% 02/15/25

 

350,000

 

385,140

 

CO Health Facilities Authority

 

 

 

 

 

 

 

 

 

Covenant Retirement Communities, Inc.

 

 

 

 

 

 

 

5.000% 12/01/16

 

860,000

 

888,242

 

CT Development Authority

 

 

 

 

 

 

 

 

 

Elim Park Baptist Home, Inc.,

 

 

 

 

 

 

 

Series 2003,

 

 

 

 

 

 

 

5.750% 12/01/23

 

250,000

 

265,877

 

FL Capital Projects Finance Authority

 

 

 

 

 

 

 

 

 

Glenridge on Palmer Ranch,

 

 

 

 

 

 

 

Series 2002 A,

 

 

 

 

 

 

 

8.000% 06/01/32

 

500,000

 

555,650

 

FL Lee County Industrial Development Authority

 

 

 

 

 

 

 

 

 

Shell Point Village Project,

 

 

 

 

 

 

 

Series 1999 A,

 

 

 

 

 

 

 

5.500% 11/15/29

 

175,000

 

177,898

 

GA Fulton County

 

 

 

 

 

 

 

 

 

Canterbury Court Project,

 

 

 

 

 

 

 

Series 2004 A,

 

 

 

 

 

 

 

6.125% 02/15/34

 

250,000

 

253,928

 

GA Savannah Economic Development Authority

 

 

 

 

 

 

 

 

 

Marshes of Skidaway,

 

 

 

 

 

 

 

Series 2003 A,

 

 

 

 

 

 

 

7.400% 01/01/24

 

250,000

 

266,432

 

IL Finance Authority

 

 

 

 

 

 

 

 

 

Washington & Jane Smith Community,

 

 

 

 

 

 

 

Series 2005 A,

 

 

 

 

 

 

 

6.250% 11/15/35

 

500,000

 

504,855

 

IL Health Facilities Authority

 

 

 

 

 

 

 

 

 

Lutheran Senior Ministries,

 

 

 

 

 

 

 

Series 2001,

 

 

 

 

 

 

 

7.375% 08/15/31

 

250,000

 

265,517

 

 

 

Washington & Jane Smith Community,

 

 

 

 

 

 

 

Series 2003 A,

 

 

 

 

 

 

 

7.000% 11/15/32

 

250,000

 

267,765

 

IN Health & Educational Facility Financing Authority Revenue

 

 

 

 

 

 

 

 

2



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

HEALTH CARE – (continued)

 

 

 

 

 

 

 

Continuing Care Retirement – (continued)

 

 

 

 

 

 

 

 

Baptist Homes of Indiana Inc.,

 

 

 

 

 

 

 

Series 2005,

 

 

 

 

 

 

 

5.250% 11/15/35

 

500,000

 

507,600

 

MD Westminster Economic Development Authority

 

 

 

 

 

 

 

 

 

Carroll Lutheran Village, Inc.,

 

 

 

 

 

 

 

Series 2004 A,

 

 

 

 

 

 

 

5.875% 05/01/21

 

500,000

 

516,220

 

MO Cole County Industrial Development Authority

 

 

 

 

 

 

 

 

 

Lutheran Senior Services,Heisinger Project,

 

 

 

 

 

 

 

Series 2004,

 

 

 

 

 

 

 

5.500% 02/01/35

 

500,000

 

522,995

 

NC Medical Care Commission

 

 

 

 

 

 

 

 

 

United Methodist Retirement Home, Inc.

 

 

 

 

 

 

 

Series 2005 C,

 

 

 

 

 

 

 

5.250% 10/01/24

 

250,000

 

251,800

 

NJ Economic Development Authority

 

 

 

 

 

 

 

 

 

Lions Gate,

 

 

 

 

 

 

 

Series 2005 A:

 

 

 

 

 

 

 

5.750% 01/01/25

 

310,000

 

317,176

 

 

 

5.875% 01/01/37

 

100,000

 

101,894

 

 

 

Winchester Gardens,

 

 

 

 

 

 

 

Series 2004 A:

 

 

 

 

 

 

 

5.750% 11/01/24

 

350,000

 

376,943

 

 

 

5.800% 11/01/31

 

250,000

 

267,110

 

PA Bucks County Industrial Development Authority

 

 

 

 

 

 

 

 

 

Ann’s Choice, Inc.,

 

 

 

 

 

 

 

Series 2005 A,

 

 

 

 

 

 

 

6.125% 01/01/25

 

500,000

 

515,795

 

PA Chartiers Valley Industrial & Commercial Development Authority

 

 

 

 

 

 

 

 

 

Friendship Village/South,

 

 

 

 

 

 

 

Series 2003 A,

 

 

 

 

 

 

 

5.250% 08/15/13

 

500,000

 

510,100

 

PA Delaware County Authority

 

 

 

 

 

 

 

 

 

Dunwoody Village,

 

 

 

 

 

 

 

Series 2003 A,

 

 

 

 

 

 

 

5.375% 04/01/17

 

250,000

 

265,217

 

PA Montgomery County Industrial Development Authority

 

 

 

 

 

 

 

 

 

Whitemarsh Community,

 

 

 

 

 

 

 

Series 2005:

 

 

 

 

 

 

 

6.125% 02/01/28

 

200,000

 

210,362

 

 

 

6.250% 02/01/35

 

300,000

 

315,996

 

TN Johnson City Health & Educational Facilities Authority

 

 

 

 

 

 

 

 

 

Appalachian Christian Village,

 

 

 

 

 

 

 

Series 2004 A,

 

 

 

 

 

 

 

6.250% 02/15/32

 

250,000

 

254,538

 

TN Shelby County Health, Educational & Housing Facilities Board

 

 

 

 

 

 

 

 

3



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

HEALTH CARE – (continued)

 

 

 

 

 

 

 

Continuing Care Retirement – (continued)

 

 

 

 

 

 

 

 

Germantown Village,

 

 

 

 

 

 

 

Series 2003 A,

 

 

 

 

 

 

 

7.250% 12/01/34

 

150,000

 

157,016

 

TX Abilene Health Facilities Development Corp.

 

 

 

 

 

 

 

 

 

Sears Methodist Retirement Systems,

 

 

 

 

 

 

 

Series 2003 A,

 

 

 

 

 

 

 

7.000% 11/15/33

 

500,000

 

539,720

 

VA Virginia Beach Development Authority

 

 

 

 

 

 

 

 

 

Westminster-Canterbury of Hampton,

 

 

 

 

 

 

 

Series 2005,

 

 

 

 

 

 

 

5.250% 11/01/26

 

300,000

 

304,230

 

VA Winchester Industrial Development Authority

 

 

 

 

 

 

 

 

 

Westminster-Canterbury,

 

 

 

 

 

 

 

Series 2005 A

 

 

 

 

 

 

 

5.300% 01/01/35

 

250,000

 

252,008

 

WI Health & Educational Facilities Authority

 

 

 

 

 

 

 

 

 

Eastcastle Place, Inc.,

 

 

 

 

 

 

 

Series 2004,

 

 

 

 

 

 

 

6.125% 12/01/34

 

150,000

 

152,549

 

 

 

Three Pillars Senior Living Communities,

 

 

 

 

 

 

 

Series 2003,

 

 

 

 

 

 

 

5.600% 08/15/23

 

300,000

 

311,244

 

Continuing Care Retirement Total

 

10,481,817

 

Health Services – 1.2%

 

 

 

 

 

 

 

CO Health Facilities Authority

 

 

 

 

 

 

 

 

 

National Jewish Medical & Research Center,

 

 

 

 

 

 

 

Series 1998 B,

 

 

 

 

 

 

 

5.375% 01/01/29

 

250,000

 

251,878

 

LA Public Facilities Authority Revenue

 

 

 

 

 

 

 

 

 

Pennington Medical Foundation Project,

 

 

 

 

 

 

 

Series 2006

 

 

 

 

 

 

 

5.000% 07/01/21(a)

 

1,000,000

 

1,038,410

 

MA Health & Educational Facilities Authority

 

 

 

 

 

 

 

 

 

Civic Investments, Inc.,

 

 

 

 

 

 

 

Series 2002 A,

 

 

 

 

 

 

 

9.000% 12/15/15

 

250,000

 

303,377

 

Health Services Total

 

1,593,665

 

Hospitals – 13.3%

 

 

 

 

 

 

 

AR Washington County

 

 

 

 

 

 

 

 

 

Wahsington Regional Medical Center,

 

 

 

 

 

 

 

Series 2005 B,

 

 

 

 

 

 

 

5.000% 02/01/30

 

400,000

 

403,424

 

CA Health Facilities Financing Authority

 

 

 

 

 

 

 

 

 

Catholic Healthcare West,

 

 

 

 

 

 

 

Series 2004 I,

 

 

 

 

 

 

 

4.950% 07/01/26

 

200,000

 

210,382

 

 

4



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

HEALTH CARE – (continued)

 

 

 

 

 

 

 

Hospitals – (continued)

 

 

 

 

 

 

 

CA Rancho Mirage Joint Powers Financing Authority

 

 

 

 

 

 

 

 

 

Eisenhower Medical Center,

 

 

 

 

 

 

 

Series 2004,

 

 

 

 

 

 

 

5.625% 07/01/29

 

1,000,000

 

1,053,280

 

CA Statewide Communities Development Authority

 

 

 

 

 

 

 

 

 

Kaiser Permanente,

 

 

 

 

 

 

 

Series 2004 I,

 

 

 

 

 

 

 

3.450% 04/01/35

 

250,000

 

242,880

 

CA Turlock

 

 

 

 

 

 

 

 

 

Emanuel Medical Center, Inc.,

 

 

 

 

 

 

 

Series 2004,

 

 

 

 

 

 

 

5.375% 10/15/34

 

500,000

 

511,575

 

CO Health Facilities Authority

 

 

 

 

 

 

 

 

 

Evangelical Lutheran Good Samaritan Foundation,

 

 

 

 

 

 

 

Series 2005,

 

 

 

 

 

 

 

5.000% 06/01/35

 

125,000

 

126,926

 

 

 

Parkview Medical Center,

 

 

 

 

 

 

 

Series 2004,

 

 

 

 

 

 

 

5.000% 09/01/25

 

250,000

 

254,698

 

 

 

Vail Valley Medical Center Project,

 

 

 

 

 

 

 

Series 2004,

 

 

 

 

 

 

 

5.000% 01/15/20

 

250,000

 

258,315

 

DE Health Facilities Authority

 

 

 

 

 

 

 

 

 

Beebe Medical Center,

 

 

 

 

 

 

 

Series 2004 A,

 

 

 

 

 

 

 

5.000% 06/01/16

 

500,000

 

524,720

 

FL Orange County Health Facilities Authority

 

 

 

 

 

 

 

 

 

Orlando Regional Healthcare System:

 

 

 

 

 

 

 

Series 1996 C,

 

 

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

 

 

6.250% 10/01/13

 

720,000

 

828,698

 

 

 

Series 1999,

 

 

 

 

 

 

 

6.000% 10/01/26

 

175,000

 

184,564

 

FL South Broward Hospital District

 

 

 

 

 

 

 

 

 

Series 2002,

 

 

 

 

 

 

 

5.625% 05/01/32

 

1,000,000

 

1,072,060

 

IL Development Finance Authority

 

 

 

 

 

 

 

 

 

Adventist Health System,

 

 

 

 

 

 

 

Series 1999,

 

 

 

 

 

 

 

5.500% 11/15/20

 

900,000

 

968,571

 

IL Southwestern Development Authority

 

 

 

 

 

 

 

 

 

Anderson Hospital,

 

 

 

 

 

 

 

Series 1999:

 

 

 

 

 

 

 

5.375% 08/15/15

 

380,000

 

393,570

 

IN Health Facility Financing Authority

 

 

 

 

 

 

 

 

 

Community Foundation of Northwest Indiana, Inc.,

 

 

 

 

 

 

 

Series 2004 A,

 

 

 

 

 

 

 

6.000% 03/01/34

 

150,000

 

159,971

 

KS University Hospital Authority

 

 

 

 

 

 

 

 

 

Kansas University Health System,

 

 

 

 

 

 

5



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

HEALTH CARE – (continued)

 

 

 

 

 

 

 

Hospitals – (continued)

 

 

 

 

 

 

 

 

 

Series 2002,

 

 

 

 

 

 

 

5.625% 09/01/32

 

500,000

 

534,335

 

LA Public Facilities Authority

 

 

 

 

 

 

 

 

 

Touro Infirmary,

 

 

 

 

 

 

 

Series 1999 A,

 

 

 

 

 

 

 

5.625% 08/15/29

 

500,000

 

496,445

 

MA Health & Educational Facilities Authority

 

 

 

 

 

 

 

 

 

Milford-Whitinsville Regional Hospital,

 

 

 

 

 

 

 

Series 1998 C,

 

 

 

 

 

 

 

5.750% 07/15/13

 

500,000

 

517,715

 

 

 

South Shore Hospital,

 

 

 

 

 

 

 

Series 1999 F,

 

 

 

 

 

 

 

5.750% 07/01/29

 

1,000,000

 

1,063,260

 

MD Health & Higher Educational Facilities Authority

 

 

 

 

 

 

 

 

 

Adventist Healthcare,

 

 

 

 

 

 

 

Series 2003 A:

 

 

 

 

 

 

 

5.000% 01/01/16

 

250,000

 

258,670

 

 

 

5.750% 01/01/25

 

250,000

 

268,222

 

MI Hospital Finance Authority

 

 

 

 

 

 

 

 

 

Oakwood Obligated Group,

 

 

 

 

 

 

 

Series 2003,

 

 

 

 

 

 

 

5.500% 11/01/18

 

400,000

 

430,880

 

MN St. Paul Housing & Redevelopment Authority

 

 

 

 

 

 

 

 

 

HealthEast, Inc.:

 

 

 

 

 

 

 

Series 2001 A,

 

 

 

 

 

 

 

5.700% 11/01/15

 

250,000

 

258,928

 

 

 

Series 2005,

 

 

 

 

 

 

 

5.150% 11/15/20

 

250,000

 

258,830

 

MO Saline County Industrial Development Authority Facility

 

 

 

 

 

 

 

 

 

John Fitzgibbon Memorial Hospital,

 

 

 

 

 

 

 

Series 2005,

 

 

 

 

 

 

 

5.625% 12/01/35

 

500,000

 

502,580

 

MT Facilities Finance Authority

 

 

 

 

 

 

 

 

 

Montana’s Children’s Home and Hospital,

 

 

 

 

 

 

 

Series 2005 B,

 

 

 

 

 

 

 

4.750% 01/01/24

 

250,000

 

254,688

 

NH Higher Educational & Health Facilities Authority

 

 

 

 

 

 

 

 

 

Catholic Medical Center,

 

 

 

 

 

 

 

Series 2002,

 

 

 

 

 

 

 

6.125% 07/01/32

 

500,000

 

534,005

 

NJ Health Care Facilities Financing Authority

 

 

 

 

 

 

 

 

 

Capital Health Systems, Inc.,

 

 

 

 

 

 

 

Series 2003 A,

 

 

 

 

 

 

 

5.750% 07/01/23

 

350,000

 

377,072

 

NV Henderson Healthcare Facility

 

 

 

 

 

 

 

 

6



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

HEALTH CARE – (continued)

 

 

 

 

 

 

 

Hospitals – (continued)

 

 

 

 

 

 

 

 

 

Series 1999 A,

 

 

 

 

 

 

 

6.750% 07/01/20

 

60,000

 

66,410

 

NV Henderson

 

 

 

 

 

 

 

 

 

St. Rose Dominican Hospital,

 

 

 

 

 

 

 

Series 1998 A,

 

 

 

 

 

 

 

Pre-refunded

 

 

 

 

 

 

 

5.375% 07/01/26

 

195,000

 

199,906

 

NY Dormitory Authority

 

 

 

 

 

 

 

 

 

Mount Sinai Hospital New York University Center,

 

 

 

 

 

 

 

Series 2000,

 

 

 

 

 

 

 

5.500% 07/01/26

 

200,000

 

202,990

 

 

 

Mount Sinai Hospital NYU Medical Center,

 

 

 

 

 

 

 

Series 2000,

 

 

 

 

 

 

 

5.500% 07/01/26

 

300,000

 

304,485

 

 

 

North Shore - Long Island Jewish Medical Center,

 

 

 

 

 

 

 

Series 2003,

 

 

 

 

 

 

 

5.500% 05/01/33

 

100,000

 

107,207

 

OH Lakewood Hospital Improvement

 

 

 

 

 

 

 

 

 

Lakewood Hospital Association,

 

 

 

 

 

 

 

Series 2003,

 

 

 

 

 

 

 

5.500% 02/15/14

 

385,000

 

413,117

 

RI State Health & Educational Building

 

 

 

 

 

 

 

 

 

Hospital Lifespan,

 

 

 

 

 

 

 

Series 2002,

 

 

 

 

 

 

 

Unrefunded,

 

 

 

 

 

 

 

6.375% 08/15/21

 

65,000

 

72,076

 

SC Jobs- Economic Development Authority

 

 

 

 

 

 

 

 

 

Bon Secours-St. Francis Medical Center,

 

 

 

 

 

 

 

Series 2002 A,

 

 

 

 

 

 

 

5.500% 11/15/23

 

500,000

 

528,955

 

SC Lexington County Health Services District Revenue

 

 

 

 

 

 

 

 

 

Lexington Medical Center Project,

 

 

 

 

 

 

 

Series 2003,

 

 

 

 

 

 

 

5.500% 11/01/23

 

500,000

 

531,445

 

SD Health & Educational Facilities Authority

 

 

 

 

 

 

 

 

 

Sioux Valley Hospital & Health System,

 

 

 

 

 

 

 

Series 2004 A,

 

 

 

 

 

 

 

5.250% 11/01/34

 

250,000

 

261,717

 

VA Augusta County Industrial Development Authority

 

 

 

 

 

 

 

 

 

Augusta Health Care, Inc.,

 

 

 

 

 

 

 

Series 2003,

 

 

 

 

 

 

 

5.250% 09/01/19

 

1,000,000

 

1,090,130

 

WI Health & Educational Facilities Authority

 

 

 

 

 

 

 

 

 

Aurora Health Care, Inc.,

 

 

 

 

 

 

 

Series 2003,

 

 

 

 

 

 

 

6.400% 04/15/33

 

175,000

 

194,201

 

 

 

Fort Healthcare, Inc.,

 

 

 

 

 

 

7



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

HEALTH CARE – (continued)

 

 

 

 

 

 

 

Hospitals – (continued)

 

 

 

 

 

 

 

 

 

5.375% 05/01/18

 

385,000

 

405,463

 

Hospitals Total

 

17,327,366

 

Intermediate Care Facilities – 0.5%

 

 

 

 

 

 

 

IL Development Finance Authority

 

 

 

 

 

 

 

 

 

Hoosier Care, Inc.,

 

 

 

 

 

 

 

Series 1999 A,

 

 

 

 

 

 

 

7.125% 06/01/34

 

455,000

 

439,576

 

MA Development Finance Agency

 

 

 

 

 

 

 

 

 

Evergreen Center, Inc.,

 

 

 

 

 

 

 

Series 2005,

 

 

 

 

 

 

 

5.000% 01/01/24

 

250,000

 

245,070

 

Intermediate Care Facilities Total

 

684,646

 

Nursing Homes – 3.0%

 

 

 

 

 

 

 

AK Juneau

 

 

 

 

 

 

 

 

 

St. Ann’s Care Center, Inc.,

 

 

 

 

 

 

 

Series 1999,

 

 

 

 

 

 

 

6.875% 12/01/25

 

485,000

 

475,300

 

CO Health Facilities Authority

 

 

 

 

 

 

 

 

 

Pioneer Health Care, Series 1989,

 

 

 

 

 

 

 

10.500% 05/01/19

 

1,540,000

 

1,246,738

 

DE Economic Development Authority

 

 

 

 

 

 

 

 

 

Churchman Village Project,

 

 

 

 

 

 

 

Series 1991 A,

 

 

 

 

 

 

 

10.000% 03/01/21

 

865,000

 

879,160

 

PA Chester County Industrial Development Authority

 

 

 

 

 

 

 

 

 

Pennsylvania Nursing Home,

 

 

 

 

 

 

 

Series 2002,

 

 

 

 

 

 

 

8.500% 05/01/32

 

750,000

 

781,222

 

PA Delaware County Industrial Development Authority

 

 

 

 

 

 

 

 

 

Care Institute-Main Line LLC,

 

 

 

 

 

 

 

Series 2005,

 

 

 

 

 

 

 

9.000% 08/01/31

 

540,000

 

487,312

 

WI Health & Educational Facilities Authority

 

 

 

 

 

 

 

 

 

Metro Health Foundation, Inc.,

 

 

 

 

 

 

 

Series 1993,

 

 

 

 

 

 

 

11.000% 11/01/22(b)

 

966,819

 

10,877

 

Nursing Homes Total

 

3,880,609

 

HEALTH CARE TOTAL

 

33,968,103

 

HOUSING – 12.3%

 

 

 

 

 

 

 

Assisted Living / Senior – 1.5%

 

 

 

 

 

 

 

NC Medical Care Commission

 

 

 

 

 

 

 

 

 

DePaul Community Facilities,

 

 

 

 

 

 

 

Series 1998,

 

 

 

 

 

 

8



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

HOUSING – (continued)

 

 

 

 

 

 

 

Assisted Living / Senior – (continued)

 

6.125% 01/01/28

 

500,000

 

470,330

 

 

 

 

 

 

 

 

 

NY Suffolk County Industrial Development Agency

 

 

 

 

 

 

 

 

 

Gurwin-Jewish Phase II,

 

 

 

 

 

 

 

Series 2004,

 

 

 

 

 

 

 

6.700% 05/01/39

 

500,000

 

533,280

 

OR Clackamas County Hospital Facility Authority Revenue

 

 

 

 

 

 

 

 

 

Series 2005,

 

 

 

 

 

 

 

5.250% 10/01/27

 

500,000

 

499,100

 

TX Bell County Health Facility Development Corp.

 

 

 

 

 

 

 

 

 

Care Institute, Inc.,

 

 

 

 

 

 

 

Series 1994,

 

 

 

 

 

 

 

9.000% 11/01/24

 

450,000

 

431,168

 

Assisted Living / Senior Total

 

1,933,878

 

Multi-Family – 7.5%

 

 

 

 

 

 

 

DC Housing Finance Agency

 

 

 

 

 

 

 

 

 

Henson Ridge,

 

 

 

 

 

 

 

Series 2004 E, AMT,

 

 

 

 

 

 

 

Insured: FHA

 

 

 

 

 

 

 

5.100% 06/01/37

 

500,000

 

511,405

 

FL Broward County Housing Finance Authority

 

 

 

 

 

 

 

 

 

Chaves Lake Apartment,

 

 

 

 

 

 

 

Series 2000 A, AMT,

 

 

 

 

 

 

 

7.500% 07/01/40

 

500,000

 

520,085

 

FL Capital Trust Agency

 

 

 

 

 

 

 

 

 

Atlantic Housing Foundation, Inc.,

 

 

 

 

 

 

 

Series 2005 C,

 

 

 

 

 

 

 

5.875% 01/01/28

 

375,000

 

379,399

 

FL Clay County Housing Finance Authority

 

 

 

 

 

 

 

 

 

Madison Commons Apartments,

 

 

 

 

 

 

 

Series 2000 A, AMT,

 

 

 

 

 

 

 

7.450% 07/01/40

 

245,000

 

247,051

 

MA Housing Finance Agency

 

 

 

 

 

 

 

 

 

Series 2004 A, AMT,

 

 

 

 

 

 

 

Insured: FSA

 

 

 

 

 

 

 

5.250% 07/01/25

 

2,000,000

 

2,060,000

 

 

 

Series 2005 E, AMT,

 

 

 

 

 

 

 

5.000% 12/01/28

 

250,000

 

252,275

 

ME Housing Authority

 

 

 

 

 

 

 

 

 

Series 2005 A-2, AMT,

 

 

 

 

 

 

 

4.950% 11/15/27

 

500,000

 

504,670

 

MN Minneapolis Student Housing Revenue

 

 

 

 

 

 

 

 

 

Riverton Community Housing Project,

 

 

 

 

 

 

 

Series 2006 A,

 

 

 

 

 

 

 

5.700% 08/01/40(a)

 

250,000

 

248,240

 

MN White Bear Lake

 

 

 

 

 

 

 

 

 

Birch Lake Townhome Project,

 

 

 

 

 

 

 

Series 1989 B, AMT,

 

 

 

 

 

 

9



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

HOUSING – (continued)

 

 

 

 

 

 

 

Multi-Family – (continued)

 

 

 

 

 

 

 

 

 

(c) 07/15/19

 

668,000

 

207,080

 

 

 

Birch Lake Townhome,

 

 

 

 

 

 

 

Series 1989 A, AMT,

 

 

 

 

 

 

 

10.250% 07/15/19

 

775,000

 

736,250

 

NC Medical Care Commission

 

 

 

 

 

 

 

 

 

ARC Projects,

 

 

 

 

 

 

 

Series 2004 A,

 

 

 

 

 

 

 

5.800% 10/01/34

 

655,000

 

700,169

 

NJ Middlesex County Improvement Authority

 

 

 

 

 

 

 

 

 

Street Student Housing Project,

 

 

 

 

 

 

 

Series 2004 A,

 

 

 

 

 

 

 

5.000% 08/15/18

 

300,000

 

311,739

 

NM Mortgage Finance Authority

 

 

 

 

 

 

 

 

 

Series 2005 E, AMT,

 

 

 

 

 

 

 

Insured: FHA

 

 

 

 

 

 

 

4.800% 09/01/40

 

500,000

 

493,105

 

NY New York City Housing Development Corp.

 

 

 

 

 

 

 

 

 

Series 2005 F-1,

 

 

 

 

 

 

 

4.650% 11/01/25

 

500,000

 

515,300

 

OH Montgomery County

 

 

 

 

 

 

 

 

 

Series 2005,

 

 

 

 

 

 

 

Insured: FHLMC

 

 

 

 

 

 

 

4.950% 11/01/35

 

250,000

 

253,052

 

Resolution Trust Corp.

 

 

 

 

 

 

 

 

 

Pass-Through Certificates,

 

 

 

 

 

 

 

Series 1993 A,

 

 

 

 

 

 

 

8.500% 12/01/16

 

227,741

 

224,028

 

WA Seattle Housing Authority

 

 

 

 

 

 

 

 

 

High Rise Rehabilitation Phase I LP,

 

 

 

 

 

 

 

Series 2005, AMT,

 

 

 

 

 

 

 

Insured: FSA

 

 

 

 

 

 

 

5.000% 11/01/25

 

500,000

 

508,410

 

WA Tacoma Housing Authority

 

 

 

 

 

 

 

 

 

Redwood,

 

 

 

 

 

 

 

Series 2005, AMT,

 

 

 

 

 

 

 

Guarantor: GNMA

 

 

 

 

 

 

 

5.050% 11/20/37

 

1,040,000

 

1,056,640

 

Multi-Family Total

 

9,728,898

 

Single-Family – 3.3%

 

 

 

 

 

 

 

CO Housing Finance Authority

 

 

 

 

 

 

 

 

 

Series 2000 B-2, AMT,

 

 

 

 

 

 

 

7.250% 10/01/31

 

85,000

 

88,103

 

IL Chicago

 

 

 

 

 

 

 

 

 

Series 2000 A, AMT,

 

 

 

 

 

 

 

Guarantor: FNMA

 

 

 

 

 

 

 

7.150% 09/01/31

 

35,000

 

35,261

 

MA Housing Finance Agency

 

 

 

 

 

 

 

 

10



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

HOUSING – (continued)

 

 

 

 

 

 

 

Single-Family – (continued)

 

 

 

 

 

 

 

 

 

Series 2005 118, AMT,

 

 

 

 

 

 

 

4.850% 12/01/35

 

750,000

 

744,105

 

 

 

Series 2005 B,

 

 

 

 

 

 

 

5.000% 06/01/30

 

455,000

 

469,251

 

ME Housing Authority

 

 

 

 

 

 

 

 

 

Series 2005 D-2, AMT,

 

 

 

 

 

 

 

4.800% 11/15/36

 

1,500,000

 

1,502,010

 

MT Board of Housing

 

 

 

 

 

 

 

 

 

Series 2005 A, AMT,

 

 

 

 

 

 

 

5.000% 06/01/36

 

1,000,000

 

1,014,110

 

WI Housing & Economic Development Authority

 

 

 

 

 

 

 

 

 

Series 2005 C, AMT,

 

 

 

 

 

 

 

4.875% 03/01/36

 

500,000

 

497,265

 

Single-Family Total

 

4,350,105

 

HOUSING TOTAL

 

16,012,881

 

INDUSTRIALS – 3.1%

 

 

 

 

 

 

 

Food Products – 1.0%

 

 

 

 

 

 

 

MI Strategic Fund

 

 

 

 

 

 

 

 

 

Imperial Holly Corp.,

 

 

 

 

 

 

 

Series 1998 C, AMT,

 

 

 

 

 

 

 

6.550% 11/01/25

 

250,000

 

245,013

 

NE Washington County WasteWater Facilities Authority

 

 

 

 

 

 

 

 

 

Cargill, Inc.,

 

 

 

 

 

 

 

Series 2002, AMT,

 

 

 

 

 

 

 

5.900% 11/01/27

 

1,000,000

 

1,091,900

 

Food Products Total

 

1,336,913

 

Forest Products & Paper – 1.1%

 

 

 

 

 

 

 

AL Camden Industrial Development Board

 

 

 

 

 

 

 

 

 

Weyerhaeuser Co.,

 

 

 

 

 

 

 

Series 2003 B, AMT,

 

 

 

 

 

 

 

6.375% 12/01/24

 

275,000

 

300,894

 

AR Camden Environmental Improvement Authority

 

 

 

 

 

 

 

 

 

International Paper Co.,

 

 

 

 

 

 

 

Series 2004 A, AMT,

 

 

 

 

 

 

 

5.000% 11/01/18

 

500,000

 

497,415

 

FL Escambia County Environmental Improvement Revenue

 

 

 

 

 

 

 

 

 

International Paper Co.,

 

 

 

 

 

 

 

Series 2003 A, AMT,

 

 

 

 

 

 

 

5.750% 11/01/27

 

250,000

 

258,750

 

MS Lowndes County

 

 

 

 

 

 

 

 

 

Disposal & Pollution Control,

 

 

 

 

 

 

 

Weyerhaeuser Co.,

 

 

 

 

 

 

 

Series 1992 B,

 

 

 

 

 

 

11



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

INDUSTRIALS – (continued)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forest Products & Paper – (continued)

 

 

 

 

 

 

 

 

 

6.700% 04/01/22

 

325,000

 

389,181

 

 

 

Forest Products & Paper Total

 

1,446,240

 

Manufacturing – 0.2%

 

 

 

 

 

 

 

MO Development Finance Board

 

 

 

 

 

 

 

 

 

Procter & Gamble Co.,

 

 

 

 

 

 

 

Series 1999, AMT,

 

 

 

 

 

 

 

5.200% 03/15/29

 

250,000

 

276,850

 

Manufacturing Total

 

276,850

 

Oil & Gas – 0.8%

 

 

 

 

 

 

 

NJ Middlesex County Pollution Control Authority

 

 

 

 

 

 

 

 

 

Amerada Hess Corp.,

 

 

 

 

 

 

 

Series 2004,

 

 

 

 

 

 

 

6.050% 09/15/34

 

175,000

 

191,319

 

NV Clark County Industrial Development Authority

 

 

 

 

 

 

 

 

 

Southwest Gas Corp.,

 

 

 

 

 

 

 

Series 2003 E, AMT,

 

 

 

 

 

 

 

5.800% 03/01/38

 

250,000

 

267,797

 

TX Gulf Coast Industrial Development Authority

 

 

 

 

 

 

 

 

 

Citgo Petroleum,

 

 

 

 

 

 

 

Series 1998, AMT,

 

 

 

 

 

 

 

8.000% 04/01/28

 

250,000

 

281,100

 

VI Virgin Islands Public Finance Authority

 

 

 

 

 

 

 

 

 

Hovensa LLC,

 

 

 

 

 

 

 

Series 2003, AMT,

 

 

 

 

 

 

 

6.125% 07/01/22

 

200,000

 

219,668

 

Oil & Gas Total

 

959,884

 

INDUSTRIALS TOTAL

 

4,019,887

 

OTHER – 13.2%

 

 

 

 

 

 

 

Other – 0.5%

 

 

 

 

 

 

 

NY Convention Center Operating Corp.

 

 

 

 

 

 

 

 

 

Yale Building Project,

 

 

 

 

 

 

 

Series 2003,

 

 

 

 

 

 

 

(c) 06/01/08

 

700,000

 

645,134

 

Other Total

 

645,134

 

Pool / Bond Bank – 1.4%

 

 

 

 

 

 

 

KS Development Finance Authority

 

 

 

 

 

 

 

 

 

Water Pollution Control,

 

 

 

 

 

 

 

5.500% 11/01/17

 

1,125,000

 

1,287,113

 

OH Summit County Port Authority

 

 

 

 

 

 

 

 

 

Seville Project,

 

 

 

 

 

 

 

Series 2005 A,

 

 

 

 

 

 

12



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

OTHER – (continued)

 

 

 

 

 

 

 

 

 

5.100% 05/15/25

 

500,000

 

506,565

 

 

 

Pool / Bond Bank Total

 

1,793,678

 

Refunded / Escrowed(d) – 9.6%

 

 

 

 

 

 

 

CA Golden State Tobacco Securitization Corp.

 

 

 

 

 

 

 

 

 

Series 2003 B,

 

 

 

 

 

 

 

Pre-refunded 06/01/13,

 

 

 

 

 

 

 

5.500% 06/01/43

 

500,000

 

554,215

 

CO Highlands Ranch Metropolitan District No. 2

 

 

 

 

 

 

 

 

 

Series 1996,

 

 

 

 

 

 

 

Escrowed to Maturity

 

 

 

 

 

 

 

Insured:FSA

 

 

 

 

 

 

 

6.500% 06/15/11

 

725,000

 

825,978

 

FL Orange County Health Facilities Authority

 

 

 

 

 

 

 

 

 

Orlando Regional Healthcare System:

 

 

 

 

 

 

 

Series 1996 C,

 

 

 

 

 

 

 

Escrowed to Maturity,

 

 

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

 

 

6.250% 10/01/13

 

1,740,000

 

2,027,518

 

 

 

Series 2002,

 

 

 

 

 

 

 

5.750% 12/01/32

 

150,000

 

167,783

 

IL Health Facilities Authority

 

 

 

 

 

 

 

 

 

Swedish American Hospital,

 

 

 

 

 

 

 

Series 2000,

 

 

 

 

 

 

 

Pre-refunded 05/15/10,

 

 

 

 

 

 

 

6.875% 11/15/30

 

500,000

 

560,660

 

MA Development Finance Agency

 

 

 

 

 

 

 

 

 

Western New England College,

 

 

 

 

 

 

 

Series 2002,

 

 

 

 

 

 

 

Pre-refunded 12/01/12,

 

 

 

 

 

 

 

6.125% 12/01/32

 

315,000

 

361,686

 

MD Health & Higher Educational Facilities Authority

 

 

 

 

 

 

 

 

 

University of Maryland Medical System,

 

 

 

 

 

 

 

Series 2000,

 

 

 

 

 

 

 

6.750% 07/01/30

 

250,000

 

284,275

 

MI Garden City School District

 

 

 

 

 

 

 

 

 

Series 2001,

 

 

 

 

 

 

 

Pre-refunded 05/01/11,

 

 

 

 

 

 

 

Insured: QSBLF

 

 

 

 

 

 

 

5.500% 05/01/16

 

325,000

 

352,527

 

MN University of Minnesota

 

 

 

 

 

 

 

 

 

Series 1996 A,

 

 

 

 

 

 

 

Escrowed to Maturity:

 

 

 

 

 

 

 

5.500% 07/01/21

 

2,000,000

 

2,307,160

 

 

 

5.750% 07/01/14

 

500,000

 

570,265

 

MO Health & Educational Facilities Authority

 

 

 

 

 

 

 

 

 

Central Institute for the Deaf,

 

 

 

 

 

 

 

Series 1999,

 

 

 

 

 

 

 

Pre-refunded 01/01/10

 

 

 

 

 

 

 

Insured: RAD

 

 

 

 

 

 

13



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

OTHER – (continued)

 

 

 

 

 

 

 

Refunded / Escrowed(d) – (continued)

 

 

 

 

 

 

 

 

 

5.850% 01/01/22

 

600,000

 

648,894

 

NC Lincoln County

 

 

 

 

 

 

 

 

 

Lincoln County Hospital,

 

 

 

 

 

 

 

Series 1991,

 

 

 

 

 

 

 

Escrowed to Maturity,

 

 

 

 

 

 

 

9.000% 05/01/07

 

45,000

 

46,531

 

NC Municipal Power Agency

 

 

 

 

 

 

 

 

 

Catawba No. 1,

 

 

 

 

 

 

 

Series 1986,

 

 

 

 

 

 

 

Escrowed to Maturity,

 

 

 

 

 

 

 

5.000% 01/01/20

 

1,670,000

 

1,854,184

 

NV Henderson Health Care Facilty Revenue

 

 

 

 

 

 

 

 

 

St. Rose Dominican Hospital,

 

 

 

 

 

 

 

Series 1998 A,

 

 

 

 

 

 

 

Pre-refunded 07/01/08,

 

 

 

 

 

 

 

5.375% 07/01/26

 

55,000

 

57,374

 

NV Henderson Healthcare Facility

 

 

 

 

 

 

 

 

 

Series 1999 A,

 

 

 

 

 

 

 

Pre-refunded 07/01/10,

 

 

 

 

 

 

 

6.750% 07/01/20

 

440,000

 

497,662

 

NY New York City

 

 

 

 

 

 

 

 

 

Series 1997 A,

 

 

 

 

 

 

 

Pre-refunded 08/01/06,

 

 

 

 

 

 

 

7.000% 08/01/07

 

80,000

 

82,414

 

RI State Healh & Educational Building Corp., Revenue

 

 

 

 

 

 

 

 

 

Hospital Financing Lifespan,

 

 

 

 

 

 

 

Series 2002,

 

 

 

 

 

 

 

Pre-refunded 05/15/12

 

 

 

 

 

 

 

6.375% 08/15/21

 

435,000

 

502,294

 

TN Shelby County Health, Educational & Housing Facilities Board

 

 

 

 

 

 

 

 

 

Open Arms Development Centers:

 

 

 

 

 

 

 

Series 1992 A,

 

 

 

 

 

 

 

Pre-refunded 08/01/07,

 

 

 

 

 

 

 

9.750% 08/01/19

 

390,000

 

438,227

 

 

 

Series 1992 C,

 

 

 

 

 

 

 

Pre-refunded 08/01/12,

 

 

 

 

 

 

 

9.750% 08/01/19

 

395,000

 

443,846

 

Refunded / Escrowed Total

 

12,583,493

 

Tobacco – 1.7%

 

 

 

 

 

 

 

CA Golden State Tobacco Securitization Corp.

 

 

 

 

 

 

 

 

 

Series 2003 A-1,

 

 

 

 

 

 

 

6.250% 06/01/33

 

750,000

 

820,725

 

NY Tsasc, Inc.

 

 

 

 

 

 

 

 

 

Series 1 2006,

 

 

 

 

 

 

 

5.125% 06/01/42

 

750,000

 

743,220

 

SC Tobacco Settlement Financing Corp.,

 

 

 

 

 

 

 

 

 

Series 2001 B,

 

 

 

 

 

 

14



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

OTHER – (continued)

 

 

 

 

 

 

 

Tobacco – (continued)

 

 

 

 

 

 

 

 

 

6.375% 05/15/28

 

400,000

 

430,884

 

WI Badger Tobacco Asset Securitization Corp.

 

 

 

 

 

 

 

 

 

Series 2002,

 

 

 

 

 

 

 

6.375% 06/01/32

 

250,000

 

268,947

 

Tobacco Total

 

2,263,776

 

OTHER TOTAL

 

17,286,081

 

OTHER REVENUE – 2.6%

 

 

 

 

 

 

 

Hotels – 0.6%

 

 

 

 

 

 

 

MA Boston Industrial Development Finance Authority

 

 

 

 

 

 

 

 

 

Crosstown Center Project,

 

 

 

 

 

 

 

Series 2002, AMT,

 

 

 

 

 

 

 

6.500% 09/01/35

 

285,000

 

293,279

 

NJ Middlesex County Improvement Authority

 

 

 

 

 

 

 

 

 

Heldrich Associates LLC,

 

 

 

 

 

 

 

Series 2005 B,

 

 

 

 

 

 

 

6.250% 01/01/37

 

500,000

 

498,695

 

Hotels Total

 

791,974

 

Recreation – 1.2%

 

 

 

 

 

 

 

CA Cabazon Band Mission Indians

 

 

 

 

 

 

 

 

 

Series 2004:

 

 

 

 

 

 

 

8.375% 10/01/15

 

105,000

 

107,538

 

 

 

8.750% 10/01/19

 

390,000

 

399,645

 

DC District of Columbia

 

 

 

 

 

 

 

 

 

Smithsonian Institute,

 

 

 

 

 

 

 

Series 1997,

 

 

 

 

 

 

 

5.000% 02/01/28

 

1,000,000

 

1,017,910

 

Recreation Total

 

1,525,093

 

Retail – 0.8%

 

 

 

 

 

 

 

MN International Falls

 

 

 

 

 

 

 

 

 

Boise Cascade Corp.,

 

 

 

 

 

 

 

Series 1999, AMT,

 

 

 

 

 

 

 

6.850% 12/01/29

 

500,000

 

534,545

 

NY New York City Industrial Development Agency

 

 

 

 

 

 

 

 

 

IAC/Interactive Corp.,

 

 

 

 

 

 

 

Series 2005,

 

 

 

 

 

 

15



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

OTHER REVENUE – (continued)

 

 

 

 

 

 

 

Retail – (continued)

 

 

 

 

 

 

 

 

 

5.000% 09/01/35

 

500,000

 

502,895

 

Retail Total

 

1,037,440

 

OTHER REVENUE TOTAL

 

3,354,507

 

RESOURCE RECOVERY – 2.9%

 

 

 

 

 

 

 

Disposal – 1.1%

 

 

 

 

 

 

 

IL Development Finance Authority

 

 

 

 

 

 

 

 

 

Waste Management, Inc.,

 

 

 

 

 

 

 

Series 1997, AMT,

 

 

 

 

 

 

 

5.050% 01/01/10

 

500,000

 

514,370

 

MI Strategic Fund

 

 

 

 

 

 

 

 

 

Waste Management, Inc.,

 

 

 

 

 

 

 

Series 1995, AMT,

 

 

 

 

 

 

 

5.200% 04/01/10

 

500,000

 

517,745

 

OH Solid Waste

 

 

 

 

 

 

 

 

 

Republic Services,

 

 

 

 

 

 

 

Series 2004, AMT,

 

 

 

 

 

 

 

4.250% 04/01/33

 

500,000

 

486,295

 

Disposal Total

 

1,518,410

 

Resource Recovery – 1.8%

 

 

 

 

 

 

 

MA Industrial Finance Agency

 

 

 

 

 

 

 

 

 

Ogden Haverhill Project,

 

 

 

 

 

 

 

Series 1998 A, AMT,

 

 

 

 

 

 

 

5.450% 12/01/12

 

1,250,000

 

1,275,050

 

PA Delaware County Industrial Development Authority

 

 

 

 

 

 

 

 

 

BFI,

 

 

 

 

 

 

 

Series 1997 A,

 

 

 

 

 

 

 

6.100% 07/01/13

 

1,000,000

 

1,048,300

 

Resource Recovery Total

 

2,323,350

 

RESOURCE RECOVERY TOTAL

 

3,841,760

 

TAX-BACKED – 46.0%

 

 

 

 

 

 

 

Local Appropriated – 5.1%

 

 

 

 

 

 

 

CA Compton

 

 

 

 

 

 

 

 

 

Civic Center & Capital Improvements,

 

 

 

 

 

 

 

Series 1997 A,

 

 

 

 

 

 

 

5.500% 09/01/15

 

500,000

 

520,990

 

CA Los Angeles County

 

 

 

 

 

 

 

 

 

Series 1999 A,

 

 

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

 

 

(c) 08/01/21

 

2,135,000

 

1,060,198

 

 

16



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

TAX-BACKED – (continued)

 

 

 

 

 

 

 

Local Appropriated – (continued)

 

 

 

 

 

 

 

MN Andover Economic Development Authority

 

 

 

 

 

 

 

 

 

Andover Community Center,

 

 

 

 

 

 

 

Series 2004,

 

 

 

 

 

 

 

5.000% 02/01/19

 

600,000

 

627,522

 

MN Hibbing Economic Development Authority

 

 

 

 

 

 

 

 

 

Series 1997,

 

 

 

 

 

 

 

6.400% 02/01/12

 

335,000

 

338,514

 

MO St. Louis Industrial Development Authority

 

 

 

 

 

 

 

 

 

St. Louis Convention Center,

 

 

 

 

 

 

 

Series 2000,

 

 

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

 

 

(c) 07/15/18

 

300,000

 

178,110

 

SC Berkeley County School District

 

 

 

 

 

 

 

 

 

Series 2003,

 

 

 

 

 

 

 

5.000% 12/01/28

 

500,000

 

511,580

 

SC Dorchester County School District No. 2

 

 

 

 

 

 

 

 

 

Series 2004,

 

 

 

 

 

 

 

5.250% 12/01/29

 

250,000

 

263,988

 

SC Lancaster Educational Assistance Program

 

 

 

 

 

 

 

 

 

Lancaster County School District,

 

 

 

 

 

 

 

Series 2004,

 

 

 

 

 

 

 

5.000% 12/01/26

 

550,000

 

560,984

 

SC Laurens County School District No. 55

 

 

 

 

 

 

 

 

 

Series 2005,

 

 

 

 

 

 

 

5.250% 12/01/30

 

350,000

 

362,159

 

SC Newberry Investing in Childrens Education

 

 

 

 

 

 

 

 

 

Series 2005,

 

 

 

 

 

 

 

5.000% 12/01/30

 

350,000

 

355,404

 

TX Houston Independent School District

 

 

 

 

 

 

 

 

 

Series 1999 A,

 

 

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

 

 

(c) 09/15/13

 

2,500,000

 

1,843,525

 

Local Appropriated Total

 

6,622,974

 

Local General Obligations – 13.8%

 

 

 

 

 

 

 

CA Modesto High School District

 

 

 

 

 

 

 

 

 

Series 2002 A,

 

 

 

 

 

 

 

Insured: FGIC

 

 

 

 

 

 

 

(c) 08/01/19

 

1,350,000

 

751,437

 

CA Pomona Unified School District

 

 

 

 

 

 

 

 

 

Series 2000 A,

 

 

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

 

 

6.450% 08/01/22

 

1,000,000

 

1,275,500

 

CA Vallejo City Unified School District

 

 

 

 

 

 

 

 

 

Series 2002 A,

 

 

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

 

17



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

TAX-BACKED – (continued)

 

 

 

 

 

 

 

Local General Obligations – (continued)

 

 

 

 

 

 

 

 

 

5.900% 08/01/25

 

2,000,000

 

2,425,820

 

CA West Contra Costa Unified School District

 

 

 

 

 

 

 

 

 

Series 2001 B,

 

 

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

 

 

6.000% 08/01/24

 

250,000

 

309,150

 

CO Highlands Ranch Met Dist 2 Co.

 

 

 

 

 

 

 

 

 

Series 1996,

 

 

 

 

 

 

 

Insured: FGIC

 

 

 

 

 

 

 

6.500% 06/15/11

 

650,000

 

740,233

 

IL Chicago

 

 

 

 

 

 

 

 

 

Series 1995 A-2,

 

 

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

 

 

6.250% 01/01/14

 

1,480,000

 

1,715,113

 

 

 

Series 1999,

 

 

 

 

 

 

 

Insured: FGIC

 

 

 

 

 

 

 

5.500% 01/01/23

 

1,000,000

 

1,163,690

 

IL Hoffman Estates Park District

 

 

 

 

 

 

 

 

 

Debt Certificates,

 

 

 

 

 

 

 

Series 2004,

 

 

 

 

 

 

 

5.000% 12/01/16

 

500,000

 

527,230

 

IL St. Clair County

 

 

 

 

 

 

 

 

 

Public Building Commission

 

 

 

 

 

 

 

Series 1997 B,

 

 

 

 

 

 

 

Insured: FGIC

 

 

 

 

 

 

 

(c) 12/01/13

 

2,000,000

 

1,467,880

 

 

 

Series 1999,

 

 

 

 

 

 

 

Insured: FGIC

 

 

 

 

 

 

 

(c) 10/01/16

 

2,000,000

 

1,283,360

 

IL Will County School District No. 17

 

 

 

 

 

 

 

 

 

Series 2001,

 

 

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

 

 

8.500% 12/01/15

 

1,400,000

 

1,907,864

 

MI St. John’s Public School

 

 

 

 

 

 

 

 

 

Series 1998,

 

 

 

 

 

 

 

Insured: FGIC

 

 

 

 

 

 

 

5.100% 05/01/25

 

1,000,000

 

1,120,470

 

NY New York City

 

 

 

 

 

 

 

 

 

Series 2003 J,

 

 

 

 

 

 

 

5.500% 06/01/18

 

500,000

 

545,825

 

OH Kenston Local School District

 

 

 

 

 

 

 

 

 

Series 2003,

 

 

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

 

 

5.000% 12/01/23

 

1,000,000

 

1,061,300

 

TX Brenham

 

 

 

 

 

 

 

 

 

Series 2001,

 

 

 

 

 

 

 

Insured: FSA

 

 

 

 

 

 

 

5.375% 08/15/16

 

1,040,000

 

1,126,996

 

 

18



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

TAX-BACKED – (continued)

 

 

 

 

 

 

 

Local General Obligations – (continued)

 

 

 

 

 

TX Dallas County Flood Control District

 

 

 

 

 

 

 

 

 

Series 2002,

 

 

 

 

 

 

 

7.250% 04/01/32

 

500,000

 

533,145

 

Local General Obligations Total

 

17,955,013

 

Special Non-Property Tax – 6.5%

 

 

 

 

 

 

 

FL Tampa Sports Authority

 

 

 

 

 

 

 

 

 

Tampa Bay Arena Project,

 

 

 

 

 

 

 

Series 1995,

 

 

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

 

 

5.750% 10/01/25

 

1,000,000

 

1,211,570

 

IL Bolingbrook Sales Tax Revenue

 

 

 

 

 

 

 

 

 

Series 2005,

 

 

 

 

 

 

 

6.250% 01/01/24

 

250,000

 

224,747

 

KS Wyandotte County

 

 

 

 

 

 

 

 

 

Series 2005,

 

 

 

 

 

 

 

5.000% 12/01/20

 

100,000

 

103,428

 

NJ Economic Development Authority

 

 

 

 

 

 

 

 

 

Cigarette Tax,

 

 

 

 

 

 

 

Series 2004,

 

 

 

 

 

 

 

5.750% 06/15/29

 

500,000

 

533,210

 

NM Dona Ana County

 

 

 

 

 

 

 

 

 

Series 1998,

 

 

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

 

 

5.500% 06/01/15

 

1,000,000

 

1,126,840

 

NY Local Government Assistance Corp.

 

 

 

 

 

 

 

 

 

Series 1993 E,

 

 

 

 

 

 

 

5.000% 04/01/21

 

3,000,000

 

3,286,800

 

NY New York City Transitional Finance Authority

 

 

 

 

 

 

 

 

 

Series 1998 A,

 

 

 

 

 

 

 

5.000% 11/15/26

 

1,960,000

 

2,051,944

 

Special Non-Property Tax Total

 

8,538,539

 

Special Property Tax – 4.4%

 

 

 

 

 

 

 

CA Huntington Beach Community Facilities District

 

 

 

 

 

 

 

 

 

Grand Coast Resort,

 

 

 

 

 

 

 

Series 2001-1,

 

 

 

 

 

 

 

6.450% 09/01/31

 

300,000

 

313,377

 

CA Lincoln Community Facilities District No. 2003-1

 

 

 

 

 

 

 

 

 

Series 2004,

 

 

 

 

 

 

 

5.550% 09/01/18

 

500,000

 

524,740

 

CA Oakdale Public Financing Authority

 

 

 

 

 

 

 

 

 

Central City Redevelopment Project,

 

 

 

 

 

 

 

Series 2004,

 

 

 

 

 

 

 

5.375% 06/01/33

 

500,000

 

519,025

 

FL Celebration Community Development District

 

 

 

 

 

 

 

 

 

Series 2003 A,

 

 

 

 

 

 

 

6.400% 05/01/34

 

245,000

 

259,700

 

 

19



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

TAX-BACKED – (continued)

 

 

 

 

 

 

 

Special Property Tax – (continued)

 

 

 

 

 

 

 

FL Double Branch Community Development District

 

 

 

 

 

 

 

 

 

Series 2002 A,

 

 

 

 

 

 

 

6.700% 05/01/34

 

330,000

 

359,677

 

FL Seven Oaks Community Development District

 

 

 

 

 

 

 

 

 

Series 2004 A,

 

 

 

 

 

 

 

5.875% 05/01/35

 

500,000

 

513,255

 

 

 

Series 2004 B,

 

 

 

 

 

 

 

5.000% 05/01/09

 

245,000

 

245,615

 

FL Westridge Community Development District

 

 

 

 

 

 

 

 

 

Series 2005,

 

 

 

 

 

 

 

5.800% 05/01/37

 

500,000

 

501,995

 

GA Atlanta Tax Allocation

 

 

 

 

 

 

 

 

 

Series 2005 A, AMT,

 

 

 

 

 

 

 

5.625% 01/01/16

 

400,000

 

412,352

 

IL Chicago

 

 

 

 

 

 

 

 

 

Pilsen Redevelopment,

 

 

 

 

 

 

 

Series 2004 B,

 

 

 

 

 

 

 

6.750% 06/01/22

 

610,000

 

634,193

 

IL Lincolnshire Special Services Area No. 1

 

 

 

 

 

 

 

 

 

Sedgebrook Project,

 

 

 

 

 

 

 

Series 2004,

 

 

 

 

 

 

 

6.250% 03/01/34

 

225,000

 

236,290

 

IL Plano Special Service Area No.4 Special Tax

 

 

 

 

 

 

 

 

 

Series 2005 5-B,

 

 

 

 

 

 

 

6.000% 03/01/35

 

750,000

 

745,057

 

MO Riverside

 

 

 

 

 

 

 

 

 

L-385 Levee Project,

 

 

 

 

 

 

 

Series 2004,

 

 

 

 

 

 

 

5.250% 05/01/20

 

500,000

 

514,260

 

Special Property Tax Total

 

5,779,536

 

State Appropriated – 11.0%

 

 

 

 

 

 

 

IN Office Building Commission

 

 

 

 

 

 

 

 

 

Women’s Prison,

 

 

 

 

 

 

 

Series 1995 B,

 

 

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

 

 

6.250% 07/01/16

 

2,820,000

 

3,321,706

 

KY Property & Buildings Commission

 

 

 

 

 

 

 

 

 

Series 2001,

 

 

 

 

 

 

 

5.500% 11/01/14

 

455,000

 

496,746

 

NY Dormitory Authority

 

 

 

 

 

 

 

 

 

City University,

 

 

 

 

 

 

 

Series 1993 A,

 

 

 

 

 

 

 

5.750% 07/01/18

 

5,000,000

 

5,702,050

 

 

20



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

TAX-BACKED – (continued)

 

 

 

 

 

 

 

State Appropriated – (continued)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

State University,

 

 

 

 

 

 

 

Series 2000 C,

 

 

 

 

 

 

 

Insured: FSA

 

 

 

 

 

 

 

5.750% 05/15/17

 

1,000,000

 

1,164,010

 

NY Urban Development Corp.

 

 

 

 

 

 

 

 

 

5.600% 04/01/15

 

1,000,000

 

1,115,480

 

UT Building Ownership Authority

 

 

 

 

 

 

 

 

 

Facilities Master Lease,

 

 

 

 

 

 

 

Series 1998 C,

 

 

 

 

 

 

 

Insured: FSA

 

 

 

 

 

 

 

5.500% 05/15/19

 

1,750,000

 

2,009,508

 

WV Building Commission

 

 

 

 

 

 

 

 

 

Series 1998 A,

 

 

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

 

 

5.375% 07/01/18

 

500,000

 

560,720

 

State Appropriated Total

 

14,370,220

 

State General Obligations – 5.2%

 

 

 

 

 

 

 

CA State

 

 

 

 

 

 

 

 

 

Series 1995,

 

 

 

 

 

 

 

5.750% 03/01/19

 

70,000

 

70,995

 

MA State

 

 

 

 

 

 

 

 

 

Series 1998 C,

 

 

 

 

 

 

 

5.250% 08/01/17

 

1,000,000

 

1,113,510

 

PR Commonwealth of Puerto Rico Aqueduct & Sewer Authority

 

 

 

 

 

 

 

 

 

Series 1995,

 

 

 

 

 

 

 

Insured: MBIA:

 

 

 

 

 

 

 

6.250% 07/01/12

 

1,000,000

 

1,147,170

 

 

 

6.250% 07/01/13

 

750,000

 

871,403

 

 

 

Series 2001,

 

 

 

 

 

 

 

Insured: FSA

 

 

 

 

 

 

 

5.500% 07/01/17

 

1,000,000

 

1,142,510

 

 

 

Series 2004 A,

 

 

 

 

 

 

 

5.000% 07/01/30

 

300,000

 

315,099

 

TX State

 

 

 

 

 

 

 

 

 

Series 1999,

 

 

 

 

 

 

 

5.500% 08/01/35

 

2,000,000

 

2,108,820

 

State General Obligations Total

 

6,769,507

 

TAX-BACKED TOTAL

 

60,035,789

 

TRANSPORTATION – 10.7%

 

 

 

 

 

 

 

Air Transportation – 3.1%

 

 

 

 

 

 

 

IN Indianapolis Airport Authority

 

 

 

 

 

 

 

 

 

FedEx Corp.,

 

 

 

 

 

 

 

Series 2004, AMT,

 

 

 

 

 

 

 

5.100% 01/15/17

 

250,000

 

262,560

 

 

21



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

TRANSPORTATION – (continued)

 

 

 

 

 

 

 

Air Transportation – (continued)

 

 

 

 

 

 

 

MN Minneapolis & St. Paul Metropolitan Airports Commission

 

Northwest Airlines, Inc.,

 

 

 

 

 

 

 

Series 2001 A, AMT,

 

 

 

 

 

 

 

7.000% 04/01/25(e)

 

350,000

 

236,590

 

NC Charlotte Douglas International Airport

 

 

 

 

 

 

 

 

 

US Airways, Inc.:

 

 

 

 

 

 

 

Series 1998, AMT,

 

 

 

 

 

 

 

5.600% 07/01/27

 

500,000

 

399,720

 

 

 

Series 2000, AMT,

 

 

 

 

 

 

 

7.750% 02/01/28

 

500,000

 

504,450

 

NJ Economic Development Authority

 

 

 

 

 

 

 

 

 

Continental Airlines, Inc.,

 

 

 

 

 

 

 

Series 1999, AMT,

 

 

 

 

 

 

 

6.250% 09/15/19

 

900,000

 

885,618

 

NY New York City Industrial Development Agency Special Facility Revenue,

 

 

 

 

 

 

 

 

 

Terminal One Group-JFK International AIrport,

 

 

 

 

 

 

 

Series 2005, AMT,

 

 

 

 

 

 

 

5.500% 01/01/21

 

250,000

 

269,892

 

NY Port Authority of New York & New Jersey

 

 

 

 

 

 

 

 

 

JFK International Air Terminal,

 

 

 

 

 

 

 

Series 1997, AMT,

 

 

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

 

 

6.250% 12/01/08

 

1,000,000

 

1,060,280

 

TX Houston Industrial Development Corp.

 

 

 

 

 

 

 

 

 

United Parcel Service,

 

 

 

 

 

 

 

Series 2002, AMT,

 

 

 

 

 

 

 

6.000% 03/01/23

 

375,000

 

393,630

 

Air Transportation Total

 

4,012,740

 

Airports – 0.9%

 

 

 

 

 

 

 

MA Port Authority

 

 

 

 

 

 

 

 

 

Series 1999, IFRN,

 

 

 

 

 

 

 

Insured: FGIC

 

 

 

 

 

 

 

8.265% 07/01/29

 

1,000,000

 

1,168,640

 

Airports Total

 

1,168,640

 

Toll Facilities – 4.4%

 

 

 

 

 

 

 

CA Foothill/Eastern Transportation Corridor Agency

 

 

 

 

 

 

 

 

 

Series 1995 A,

 

 

 

 

 

 

 

5.000% 01/01/35(f)

 

1,000,000

 

979,000

 

CA San Joaquin Hills Transportation Corridor Agency

 

 

 

 

 

 

 

 

 

Series 1997 A,

 

 

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

 

 

(c) 01/15/15

 

2,000,000

 

1,397,080

 

CO Northwest Parkway Public Highway Authority

 

 

 

 

 

 

 

 

 

Series 2001 D,

 

 

 

 

 

 

 

7.125% 06/15/41

 

500,000

 

470,830

 

NH Turnpike Systems

 

 

 

 

 

 

 

 

22



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

TRANSPORTATION – (continued)

 

 

 

 

 

 

 

Toll Facilities – (continued)

 

 

 

 

 

 

 

 

 

Series 1991 C, IFRN,

 

 

 

 

 

 

 

Insured: FGIC

 

 

 

 

 

 

 

10.290% 11/01/17

 

1,000,000

 

1,083,080

 

NY Thruway Authority

 

 

 

 

 

 

 

 

 

Second General Highway & Bridge Trust Fund,

 

 

 

 

 

 

 

Series 2005 B,

 

 

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

 

 

5.500% 04/01/20

 

1,540,000

 

1,792,375

 

Toll Facilities Total

 

5,722,365

 

Transportation – 2.3%

 

 

 

 

 

 

 

IL Regional Transportation Authority

 

 

 

 

 

 

 

 

 

Series 1994 C,

 

 

 

 

 

 

 

Insured: FGIC

 

 

 

 

 

 

 

7.750% 06/01/20

 

1,000,000

 

1,384,420

 

NV Department of Business & Industry

 

 

 

 

 

 

 

 

 

Las Vegas Monorail,

 

 

 

 

 

 

 

Series 2000:

 

 

 

 

 

 

 

7.375% 01/01/30

 

250,000

 

259,937

 

 

 

7.375% 01/01/40

 

250,000

 

258,713

 

OH Toledo-Lucas County Port Authority

 

 

 

 

 

 

 

 

 

CSX Transportation, Inc.,

 

 

 

 

 

 

 

Series 1992,

 

 

 

 

 

 

 

6.450% 12/15/21

 

1,000,000

 

1,156,990

 

Transportation Total

 

3,060,060

 

TRANSPORTATION TOTAL

 

13,963,805

 

UTILITIES – 16.7%

 

 

 

 

 

 

 

Independent Power Producers – 1.1%

 

 

 

 

 

 

 

NY Suffolk County Industrial Development Authority

 

 

 

 

 

 

 

 

 

Nissequogue Cogenaration Partners Facilities,

 

 

 

 

 

 

 

Series 1998, AMT,

 

 

 

 

 

 

 

5.500% 01/01/23

 

550,000

 

515,807

 

PA Carbon City Industrial Development Authority

 

 

 

 

 

 

 

 

 

Panther Creek Partners Project,

 

 

 

 

 

 

 

Series 2000, AMT,

 

 

 

 

 

 

 

6.650% 05/01/10

 

125,000

 

131,918

 

PA Economic Development Financing Authority

 

 

 

 

 

 

 

 

 

Colver Project,

 

 

 

 

 

 

 

Series 2005 G,

 

 

 

 

 

 

 

5.125% 12/01/15

 

425,000

 

420,210

 

PR Commonwealth of Puerto Rico Industrial, Tourist, Educational, Medical & Environmental Cogeneration Facilities

 

 

 

 

 

 

 

 

 

AES Project,

 

 

 

 

 

 

 

Series 2000, AMT,

 

 

 

 

 

 

23



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

UTILITIES – (continued)

 

 

 

 

 

 

 

Independent Power Producers – (continued)

 

 

 

 

 

 

 

 

 

6.625% 06/01/26

 

320,000

 

347,990

 

 

 

Independent Power Producers Total

 

1,415,925

 

Investor Owned – 10.4%

 

 

 

 

 

 

 

CA Chula Vista Industrial Development Authority

 

 

 

 

 

 

 

 

 

San Diego Gas & Electric Co.,

 

 

 

 

 

 

 

Series 1996 B, AMT,

 

 

 

 

 

 

 

5.500% 12/01/21

 

625,000

 

681,781

 

FL Polk County Industrial Development Authority

 

 

 

 

 

 

 

 

 

Tampa Electric Co.,

 

 

 

 

 

 

 

Series 1996, AMT,

 

 

 

 

 

 

 

5.850% 12/01/30

 

500,000

 

511,645

 

IN Petersburg

 

 

 

 

 

 

 

 

 

Indiana Power & Light Co.,

 

 

 

 

 

 

 

Series 1993 B,

 

 

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

 

 

5.400% 08/01/17

 

2,500,000

 

2,783,875

 

MI Strategic Fund

 

 

 

 

 

 

 

 

 

Detroit Edison Co.,

 

 

 

 

 

 

 

Series 1998 A, AMT,

 

 

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

 

 

5.550% 09/01/29

 

3,000,000

 

3,171,480

 

MS Business Finance Corp.

 

 

 

 

 

 

 

 

 

Systems Energy Resources,

 

 

 

 

 

 

 

Series 1998,

 

 

 

 

 

 

 

5.875% 04/01/22

 

1,000,000

 

1,012,000

 

MT Forsyth

 

 

 

 

 

 

 

 

 

Portland General,

 

 

 

 

 

 

 

Series 1998 A,

 

 

 

 

 

 

 

5.200% 05/01/33

 

150,000

 

154,554

 

NV Clark County Industrial Development Authority

 

 

 

 

 

 

 

 

 

Nevada Power Co.:

 

 

 

 

 

 

 

Series 1995 B, AMT,

 

 

 

 

 

 

 

5.900% 10/01/30

 

250,000

 

250,015

 

 

 

Series 1997 A, AMT,

 

 

 

 

 

 

 

5.900% 11/01/32

 

250,000

 

250,025

 

OH Air Quality Development Authority

 

 

 

 

 

 

 

 

 

Cleveland Electric Illuminating Co.,

 

 

 

 

 

 

 

Series 2002 A,

 

 

 

 

 

 

 

6.000% 12/01/13

 

650,000

 

677,716

 

PA Economic Development Financing Authority

 

 

 

 

 

 

 

 

 

Reliant Energy, Inc.,

 

 

 

 

 

 

 

Series 2001 A, AMT,

 

 

 

 

 

 

 

6.750% 12/01/36

 

200,000

 

214,120

 

TX Brazos River Authority

 

 

 

 

 

 

 

 

 

TXU Electric Co.,

 

 

 

 

 

 

 

Series 1999, AMT,

 

 

 

 

 

 

24



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

UTILITIES – (continued)

 

 

 

 

 

 

 

Investor Owned – (continued)

 

 

 

 

 

 

 

 

 

7.700% 04/01/33

 

250,000

 

292,725

 

 

 

TXU Energy Co., LLC:

 

 

 

 

 

 

 

Series 2001 C, AMT,

 

 

 

 

 

 

 

5.750% 05/01/36

 

100,000

 

106,166

 

 

 

Series 2003 C, AMT,

 

 

 

 

 

 

 

6.750% 10/01/38

 

270,000

 

299,309

 

TX Matagorda County Navigation District No. 1

 

 

 

 

 

 

 

 

 

Houston Light & Power Co.,

 

 

 

 

 

 

 

Series 1997, AMT,

 

 

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

 

 

5.125% 11/01/28

 

2,000,000

 

2,164,160

 

WY Campbell County

 

 

 

 

 

 

 

 

 

Black Hills Power, Inc.,

 

 

 

 

 

 

 

Series 2004,

 

 

 

 

 

 

 

5.350% 10/01/24

 

500,000

 

518,230

 

WY Converse County

 

 

 

 

 

 

 

 

 

PacifiCorp,

 

 

 

 

 

 

 

Series 1988,

 

 

 

 

 

 

 

3.900% 01/01/14

 

500,000

 

480,870

 

Investor Owned Total

 

13,568,671

 

Joint Power Authority – 3.7%

 

 

 

 

 

 

 

MA Municipal Wholesale Electric Co.

 

 

 

 

 

 

 

 

 

Power Supply System, Project 6-A,

 

 

 

 

 

 

 

Series 2001,

 

 

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

 

 

5.250% 07/01/14

 

1,000,000

 

1,086,580

 

NC Eastern Municipal Power Agency

 

 

 

 

 

 

 

 

 

Series 2003 F,

 

 

 

 

 

 

 

5.500% 01/01/16

 

285,000

 

307,521

 

NC Municipal Power Agency

 

 

 

 

 

 

 

 

 

Catawba Electric No.1:

 

 

 

 

 

 

 

Series 1998 A,

 

 

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

 

 

5.500% 01/01/15

 

640,000

 

714,905

 

 

 

Series 2003 A,

 

 

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

 

 

5.250% 01/01/18

 

2,500,000

 

2,694,600

 

Joint Power Authority Total

 

4,803,606

 

Water & Sewer – 1.5%

 

 

 

 

 

 

 

MS V Lakes Utility District

 

 

 

 

 

 

 

 

 

Series 1994,

 

 

 

 

 

 

 

8.250% 07/15/24(g)

 

135,000

 

114,727

 

WA King County

 

 

 

 

 

 

 

 

 

Series 1999,

 

 

 

 

 

 

 

Insured: FGIC

 

 

 

 

 

 

25



 

 

 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

 

 

UTILITIES – (continued)

 

 

 

 

 

 

 

Water & Sewer – (continued)

 

 

 

 

 

 

 

 

 

5.250% 01/01/30

 

1,750,000

 

1,829,992

 

UTILITIES TOTAL

 

21,732,921

 

 

 

Total Municipal Bonds
(cost of $175,226,035)

 

 

 

185,247,656

 

Municipal Preferred Stocks – 2.0%

 

 

 

 

 

 

 

HOUSING – 2.0%

 

 

 

 

 

 

 

Multi-Family – 2.0%

 

 

 

 

 

 

 

Charter Mac Equity Issuer Trust

 

 

 

 

 

 

 

 

 

AMT:

 

 

 

 

 

 

 

7.600% 11/30/10(h)

 

500,000

 

563,720

 

 

 

6.300% 04/30/19(h)

 

500,000

 

558,825

 

GMAC Municipal Mortgage Trust

 

 

 

 

 

 

 

 

 

AMT,

 

 

 

 

 

 

 

5.600% 10/31/39(h)

 

500,000

 

527,025

 

Munimae TE Bond Subsidiary LLC

 

 

 

 

 

 

 

 

 

Series C-3, AMT,

 

 

 

 

 

 

 

5.500% 11/29/49(h)

 

1,000,000

 

1,031,700

 

Multi-Family Total

 

2,681,270

 

HOUSING TOTAL

 

2,681,270

 

 

 

Total Municipal Preferred Stocks
(cost of $2,500,000)

 

 

 

2,681,270

 

Investment Company – 0.0%

 

 

 

 

 

 

 

 

 

Dreyfus Tax-Exempt Cash Management Fund

 

795

 

795

 

 

 

Total Investment Company
(cost of $796)

 

 

 

795

 

Short-Term Obligations – 2.1%

 

 

 

 

 

 

 

VARIABLE RATE DEMAND NOTES (i) – 2.1%

 

 

 

 

 

 

 

FL Orange County School Board Certificates of Participation

 

 

 

 

 

 

 

 

 

Series 2002 B,

 

 

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

 

 

2.800% 08/01/27

 

400,000

 

400,000

 

MN Higher Education Facilities Authority

 

 

 

 

 

 

 

 

 

St. Olaf College,

 

 

 

 

 

 

 

Series 2002 5-M1,

 

 

 

 

 

 

 

LOC: Harris Trust & Savings Bank

 

 

 

 

 

 

 

2.770% 10/01/32

 

100,000

 

100,000

 

MN Mankato

 

 

 

 

 

 

 

 

 

Bethany Lutheran College, Inc.,

 

 

 

 

 

 

 

Series 2000 B,

 

 

 

 

 

 

 

LOC: Wells Fargo Bank

 

 

 

 

 

 

 

2.820% 11/01/15

 

300,000

 

300,000

 

 

26



 

 

 

 

 

Par ($)

 

Value ($)

 

Short-Term Obligations – (continued)

 

 

 

 

 

 

 

VARIABLE RATE DEMAND NOTES (i) – (continued)

 

 

 

 

 

 

 

MS Jackson County Pollution Control

 

 

 

 

 

 

 

 

 

Chevron Corp.,

 

 

 

 

 

 

 

Series 1993,

 

 

 

 

 

 

 

2.800% 06/01/23

 

100,000

 

100,000

 

NE Lancaster County Hospital Authority No. 1 Revenue

 

 

 

 

 

 

 

 

 

Bryanlgh Medical Center,

 

 

 

 

 

 

 

Series 2002,

 

 

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

 

 

2.770% 06/01/18

 

100,000

 

100,000

 

NY Jay Street Development Corp.

 

 

 

 

 

 

 

 

 

Series 2003 A-4,

 

 

 

 

 

 

 

LOC: DEPFA Bank PLC

 

 

 

 

 

 

 

2.840% 05/01/22

 

100,000

 

100,000

 

WI Health & Educational Facilities Authority Revnue

 

 

 

 

 

 

 

 

 

Gundersen Clinc LTD,

 

 

 

 

 

 

 

Series 2000 A

 

 

 

 

 

 

 

Insured: FSA

 

 

 

 

 

 

 

2.750% 12/01/15

 

300,000

 

300,000

 

WY Lincoln County Pollution Control Revenue

 

 

 

 

 

 

 

 

 

ExxonMobil Corp.,

 

 

 

 

 

 

 

Series 1984 B,

 

 

 

 

 

 

 

2.900% 11/01/14

 

200,000

 

200,000

 

WY Uinta County Pollution Control Revenue

 

 

 

 

 

 

 

 

 

Chevron USA, Inc., Project:

 

 

 

 

 

 

 

2.800% 08/15/20

 

1,000,000

 

1,000,000

 

 

 

2.970% 08/15/20

 

100,000

 

100,000

 

VARIABLE RATE DEMAND NOTES TOTAL

 

2,700,000

 

 

 

Total Short-Term Obligations
(cost of $2,700,000)

 

 

 

2,700,000

 

 

 

Total Investments – 146.1%
(cost of $181,426,831)(j)(k)

 

 

 

190,629,721

 

 

 

Auction Preferred Shares Plus Cumulative Unpaid Distributions- (45.10)%

 

 

 

(60,005,918)

 

 

 

Other Assets & Liabilities, Net – (0.1)%

 

 

 

(136,890)

 

 

 

Net Assets – 100.0%

 

 

 

130,486,913

 

 

27



 


 

Notes to Investment Portfolio:

 

*

Security Valuation:

 

Debt securities generally are valued by pricing services approved by the Trust’s Board of Trustees, based upon market transactions for normal, institutional-size trading units of similar securities.  The services may use various pricing techniques which take into account appropriate factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data, as well as broker quotes.  Debt securities for which quotations are readily available are valued at an over-the-counter or exchange bid quotation.  Certain debt securities, which tend to be more thinly traded and of lesser quality, are priced based on fundamental analysis of the financial condition of the issuer and the estimated value of any collateral.  Valuations developed through pricing techniques may vary from the actual amounts realized upon sale of the securities, and the potential variation may be greater for those securities valued using fundamental analysis.

 

Short-term debt obligations maturing within 60 days are valued at amortized cost, which approximates market value.

 

Investments in other investment companies are valued at net asset value.

 

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded.

 

Investments for which market quotations are not readily available, or quotations which management believes are not appropriate, are valued at fair value under procedures approved by the Board of Trustees. If a security is valued at a “fair value”, such value is likely to be different from the last quoted market price for the security

 

Swap transactions such as interest rate, total return, index or currency swaps, consistent with their investment objective and policies to obtain a desired return at a lower cost than if the Funds had invested directly in the asset that yielded the desired return. Swaps involve the exchange by a Fund with another party of their respective commitments to pay or receive interest or total return throughout the lives of the agreements. The interest to be paid or received on interest rate swaps is included in net realized gain/(loss) on investments. Unrealized gains are reported as an asset and unrealized losses are reported as a liability on the Statement of net assets. A realized gain or loss is recorded upon termination of swap agreements and is equal to the difference between the Fund’s basis in the swap and the proceeds from (or cost of) the closing transaction. Swap agreements are stated at fair value. Notional principal amounts are used to express the extent of involvement in these transactions, but the amounts potentially subject to credit risk are much smaller..

 

(a)

Security purchased on a delayed delivery basis.

 

(b)

The issuer has filed for bankruptcy protection under Chapter 11, and is in default of certain debt covenants.  Income is not being accrued.  At February 28, 2006, the value of this security represents less than 0.1% of net assets.

 

(c)

Zero coupon bond.

 

(d)

The Trust has been informed that each issuer has placed direct obligations of the U.S. Government in an irrevocable trust, solely for the payment of principal and interest.

 

(e)

The issuer has filed for bankruptcy protection under Chapter 11, and is in default of certain debt covenants.  Income is being partially accrued.  At February 28, 2006, the value of this security represents 0.2% of net assets.

 

(f)

The security or a portion of the security is pledged as collateral for open futures contracts.  At February 28, 2006, the total market value of securities pledged amounted to $979,000.

 

(g)

The issuer is in default of certain debt covenants.  Income is not being accrued.  At February 28, 2006, the value of this security represents 0.1% of net assets.

 

(h)

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2006, these securities, which are not illiquid, amounted to $2,681,270, which represents 2.1% of net assets.

 

28



 

 

(i)

Variable rate demand notes.  These securities are payable upon demand and are secured by letters of credit or other credit support agreements from banks.  The interest rates change periodically and the interest rates shown reflect the rates at February 28, 2006.

 

(j)

Cost for federal income tax purposes is $181,120,238.

 

(k)

Unrealized appreciation and depreciation at February 28, 2006 based on cost of investments for federal income tax purposes was:

 

 

 

 

 

Unrealized

 

Unrealized

 

Net Unrealized

 

 

 

Appreciation

 

Depreciation

 

Appreciation

 

 

 

$

14,558,525

 

$

(5,049,041

)

$

9,458,730

 

 

At February 28, 2006, the Trust held the following open short futures contracts:

 

 

 

 

 

 

 

Aggregate

 

Expiration

 

Unrealized

 

Type

 

Contracts

 

Value

 

Face Value

 

Date

 

Appreciation (Depreciation)

 

10-Year U.S Treasury Notes

 

138

 

$

14,904,000

 

$

14,970,085

 

Mar-2006

 

$

66,085

 

U.S Treasury Bonds

 

79

 

8,934,406

 

8,914,400

 

Jun-2006

 

(20,007

)

 

 

 

 

 

 

 

 

 

 

$

46,078

 

 

At February 28, 2006, the Fund held the following open long swap contracts:

 

Description

 

Value

 

Aggregate Face Value

 

Expiration Date

 

Unrealized
Appreciation
(Depreciation)

 

Contract with J.P. Morgan, Effective: 02/09/06

 

$

8,000,000

 

$

 8,000,000

 

May-2006

 

$

 

 

 

 

 

 

 

Total unrealized Appreciation
(Depreciation)

 

$

 

 

At February 28, 2006, the Fund held the following open Short swap contracts:

 

Description

 

Value

 

Aggregate Face Value

 

Expiration Date

 

Unrealized
Depreciation

 

Contract with J.P. Morgan, Effective: 02/09/06

 

$

8,000,000

 

$

 8,096,831

 

May-2006

 

$

(96,031

)

 

 

 

 

 

 

Total unrealized depreciation

 

$

(96,031

)

 

Acronym

 

Name

 

 

 

AMBAC

 

Ambac Assurance Corp.

AMT

 

Alternative Minimum Tax

CGIC

 

Capital Guaranty Insurance Corp.

FGIC

 

Financial Guaranty Insurance Co.

FHA

 

Federal Housing Administration

FHLMC

 

Federal Home Loan Mortgage Corp.

FNMA

 

Federal National Mortgage Association

FSA

 

Financial Security Assurance, Inc.

GNMA

 

Government National Mortgage Co.

IFRN

 

Inverse Floating Rate Note

MBIA

 

MBIA Insurance Corp.

QSBLF

 

Qualified State Bond Loan Fund

RAD

 

Radian Asset Assurance

 

29



 

Item 2. Controls and Procedures.

 

(a)          The registrant’s principal executive officer and principal financial officer, based on his evaluation of the registrant’s disclosure controls and procedures as of a date within 90 days of the filing of this report, has concluded that such controls and procedures are adequately designed to ensure that information required to be disclosed by the registrant in Form N-Q is accumulated and communicated to the registrant’s management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

 

(b)         There were no changes in the registrant’s internal control over financial reporting that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

Item 3. Exhibits.

 

Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) attached hereto as Exhibit 99.CERT.

 



 

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)

 

Colonial Investment Grade Municipal Trust

 

 

 

 

 

By (Signature and Title)

 

/S/ Christopher L. Wilson

 

 

Christopher L. Wilson, President

 

 

 

 

 

Date

 

April 26, 2006

 

 

 

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/ Christopher L. Wilson

 

 

Christopher L. Wilson, President

 

 

 

 

Date

 

April 26, 2006

 

 

 

 

 

By (Signature and Title)

 

/S/ J. Kevin Connaughton

 

 

J. Kevin Connaughton, Treasurer

 

 

 

 

 

Date

 

April 26, 2006