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Portfolio of Investments
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Nuveen Ohio Quality Municipal Income Fund (NUO)
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(formerly known as Nuveen Ohio Quality Income Municipal Fund)
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November 30, 2016 (Unaudited)
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Principal
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Optional Call
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Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
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Value
|
|
|
LONG-TERM INVESTMENTS – 148.4% (100.0% of Total Investments)
|
|
|
|
|
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MUNICIPAL BONDS – 148.4% (100.0% of Total Investments)
|
|
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Consumer Staples – 4.8% (3.2% of Total Investments)
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Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
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|
|
|
Bonds, Senior Lien, Series 2007A-2:
|
|
|
|
|
$ 15,035
|
5.125%, 6/01/24
|
6/17 at 100.00
|
B–
|
$ 13,170,358
|
|
1,085
|
5.875%, 6/01/47
|
6/17 at 100.00
|
B–
|
922,684
|
|
16,120
|
Total Consumer Staples
|
|
|
14,093,042
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|
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Education and Civic Organizations – 5.7% (3.9% of Total Investments)
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|
|
|
|
4,375
|
Miami University of Ohio, General Receipts Bonds, Refunding Series 2014, 5.000%, 9/01/33
|
9/24 at 100.00
|
AA
|
4,860,931
|
|
|
Miami University of Ohio, General Receipts Bonds, Series 2011:
|
|
|
|
|
130
|
5.000%, 9/01/33
|
No Opt. Call
|
AA
|
143,634
|
|
1,960
|
5.000%, 9/01/36
|
9/21 at 100.00
|
AA
|
2,165,565
|
|
|
Miami University of Ohio, General Receipts Bonds, Series 2012:
|
|
|
|
|
480
|
4.000%, 9/01/32
|
9/22 at 100.00
|
AA
|
494,659
|
|
1,000
|
4.000%, 9/01/33
|
9/22 at 100.00
|
AA
|
1,026,330
|
|
|
Ohio Higher Educational Facilities Commission, Revenue Bonds, Denison University Project,
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|
|
|
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Series 2012:
|
|
|
|
|
120
|
5.000%, 11/01/27
|
5/22 at 100.00
|
AA
|
135,330
|
|
590
|
5.000%, 11/01/32
|
5/22 at 100.00
|
AA
|
656,717
|
|
5,000
|
Ohio Higher Educational Facilities Commission, Revenue Bonds, University of Dayton, Series 2013,
|
12/22 at 100.00
|
A+
|
5,425,450
|
|
|
5.000%, 12/01/43
|
|
|
|
|
1,000
|
Ohio University at Athens, General Receipts Bonds, Series 2013, 5.000%, 12/01/39
|
12/22 at 100.00
|
Aa3
|
1,098,690
|
|
1,000
|
Tuscarawas County Economic Development and Finance Alliance, Ohio, Higher Education Facilities
|
3/25 at 100.00
|
N/R
|
977,280
|
|
|
Revenue Bonds, Ashland University, Refunding & Improvement Series 2015, 6.000%, 3/01/45
|
|
|
|
|
15,655
|
Total Education and Civic Organizations
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|
|
16,984,586
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|
Health Care – 26.5% (17.8% of Total Investments)
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|
|
|
|
3,000
|
Akron, Bath and Copley Joint Township Hospital District, Ohio, Hospital Revenue Bonds, Children’s
|
5/23 at 100.00
|
A1
|
3,193,800
|
|
|
Hospital Medical Center, Improvement Series 2013, 5.000%, 11/15/38
|
|
|
|
|
1,950
|
Allen County, Ohio, Hospital Facilities Revenue Bonds, Catholic Healthcare Partners, Series 2010A,
|
6/20 at 100.00
|
AA–
|
2,104,967
|
|
|
5.250%, 6/01/38
|
|
|
|
|
3,500
|
Butler County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Series 2010, 5.500%, 11/01/40
|
11/20 at 100.00
|
A
|
3,893,785
|
|
2,400
|
Fairfield County, Ohio, Hospital Facilities Revenue Bonds, Fairfield Medical Center Project, Series
|
6/23 at 100.00
|
Baa2
|
2,494,872
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|
|
2013, 5.000%, 6/15/43
|
|
|
|
|
250
|
Franklin County, Ohio, Hospital Revenue Bonds, OhioHealth Corporation, Series 2011A,
|
11/21 at 100.00
|
AA+
|
269,408
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|
|
5.000%,11/15/41
|
|
|
|
|
4,480
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Franklin County, Ohio, Hospital Revenue Bonds, OhioHealth Corporation, Tender Option Bond Trust
|
11/21 at 100.00
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AA+
|
5,175,565
|
|
|
2016-XL0004, 8.836%, 11/15/41 (IF) (4)
|
|
|
|
|
3,225
|
Hancock County, Ohio, Hospital Revenue Bonds, Blanchard Valley Regional Health Center, Series
|
6/21 at 100.00
|
A2
|
3,634,446
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|
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2011A, 6.250%, 12/01/34
|
|
|
|
|
300
|
Lake County, Ohio, Hospital Facilities Revenue Bonds, Lake Hospital System, Inc., Refunding Series
|
8/18 at 100.00
|
A3
|
317,958
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|
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2008C, 6.000%, 8/15/29
|
|
|
|
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Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series 2008D:
|
|
|
|
|
90
|
5.000%, 11/15/38
|
11/18 at 100.00
|
AA
|
94,062
|
|
40
|
5.125%, 11/15/40
|
11/18 at 100.00
|
AA
|
41,877
|
|
3,965
|
Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series
|
11/21 at 100.00
|
AA
|
4,568,353
|
|
|
2011A, 6.000%, 11/15/41
|
|
|
|
|
820
|
Middleburg Heights, Ohio, Hospital Facilities Revenue Bonds, Southwest General Health Center
|
8/21 at 100.00
|
A2
|
872,915
|
|
|
Project, Refunding Series 2011, 5.250%, 8/01/41
|
|
|
|
|
|
Montgomery County, Ohio, Revenue Bonds, Catholic Health Initiatives, Series 2004A:
|
|
|
|
|
3,530
|
5.000%, 5/01/30
|
2/17 at 100.00
|
A–
|
3,536,813
|
|
2,500
|
5.000%, 5/01/32
|
2/17 at 100.00
|
A–
|
2,504,625
|
|
6,105
|
Muskingum County, Ohio, Hospital Facilities Revenue Bonds, Genesis HealthCare System Obligated
|
2/23 at 100.00
|
BB+
|
6,312,081
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|
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Group Project, Series 2013, 5.000%, 2/15/44
|
|
|
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Ohio State Higher Educational Facilities Commission, Hospital Revenue Bonds, Cleveland Clinic
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|
|
|
|
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Health System Obligated Group, Series 2008A:
|
|
|
|
|
3,000
|
5.000%, 1/01/25
|
1/18 at 100.00
|
Aa2
|
3,108,690
|
|
240
|
5.250%, 1/01/33
|
1/18 at 100.00
|
Aa2
|
248,863
|
|
1,100
|
Ohio State Higher Educational Facilities Commission, Hospital Revenue Bonds, Cleveland Clinic
|
1/22 at 100.00
|
Aa2
|
1,208,482
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|
|
Health System Obligated Group, Series 2012A, 5.000%, 1/01/38
|
|
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Ohio State Higher Educational Facilities Commission, Hospital Revenue Bonds, Summa Health
|
|
|
|
|
|
System Project, Series 2010:
|
|
|
|
|
1,500
|
5.750%, 11/15/40 – AGM Insured
|
5/20 at 100.00
|
AA
|
1,644,870
|
|
1,520
|
5.250%, 11/15/40 – AGM Insured
|
5/20 at 100.00
|
AA
|
1,635,155
|
|
8,050
|
Ohio State, Hospital Facility Revenue Bonds, Cleveland Clinic Health System Obligated Group,
|
1/19 at 100.00
|
Aa2
|
8,605,611
|
|
|
Refunding Series 2009A, 5.500%, 1/01/39
|
|
|
|
|
|
Ohio State, Hospital Facility Revenue Refunding Bonds, Cleveland Clinic Health System Obligated
|
|
|
|
|
|
Group, Tender Option Bond Trust 2015-XF0105:
|
|
|
|
|
5,350
|
18.148%, 1/01/39 (IF)
|
1/19 at 100.00
|
Aa2
|
6,827,028
|
|
875
|
18.148%, 1/01/43 (IF)
|
1/18 at 100.00
|
Aa2
|
1,013,215
|
|
|
Ohio State, Hospital Revenue Bonds, University Hospitals Health System, Inc., Series 2013A:
|
|
|
|
|
1,000
|
5.000%, 1/15/28
|
1/23 at 100.00
|
A
|
1,106,820
|
|
2,000
|
5.000%, 1/15/29
|
1/23 at 100.00
|
A
|
2,200,840
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|
|
Ross County, Ohio, Hospital Revenue Refunding Bonds, Adena Health System Series 2008:
|
|
|
|
|
1,425
|
5.750%, 12/01/28
|
12/18 at 100.00
|
A–
|
1,525,420
|
|
1,385
|
5.750%, 12/01/35
|
12/18 at 100.00
|
A–
|
1,475,759
|
|
1,000
|
5.750%, 12/01/35 – AGC Insured
|
12/18 at 100.00
|
AA
|
1,065,530
|
|
|
Wood County, Ohio, Hospital Facilities Refunding and Improvement Revenue Bonds, Wood County
|
|
|
|
|
|
Hospital Project, Series 2012:
|
|
|
|
|
2,635
|
5.000%, 12/01/37
|
No Opt. Call
|
Baa3
|
2,685,592
|
|
4,920
|
5.000%, 12/01/42
|
No Opt. Call
|
Baa3
|
4,993,849
|
|
72,155
|
Total Health Care
|
|
|
78,361,251
|
|
|
Housing/Multifamily – 2.3% (1.5% of Total Investments)
|
|
|
|
|
1,235
|
Clermont County, Ohio, GNMA Collateralized Mortgage Revenue Bonds, S.E.M. Villa II Project,
|
2/17 at 100.00
|
N/R
|
1,237,186
|
|
|
Series 1994A, 5.950%, 2/20/30
|
|
|
|
|
305
|
Franklin County, Ohio, GNMA Collateralized Multifamily Housing Mortgage Revenue Bonds, Agler
|
2/17 at 100.00
|
Aaa
|
305,647
|
|
|
Project, Series 2002A, 5.550%, 5/20/22 (Alternative Minimum Tax)
|
|
|
|
|
1,600
|
Montgomery County, Ohio, GNMA Guaranteed Multifamily Housing Revenue Bonds, Canterbury
|
10/18 at 101.00
|
Aa1
|
1,660,464
|
|
|
Court Project, Series 2007, 5.500%, 10/20/42 (Alternative Minimum Tax)
|
|
|
|
|
3,390
|
Summit County Port Authority, Ohio, Multifamily Housing Revenue Bonds, Callis Tower Apartments
|
9/17 at 102.00
|
Aa1
|
3,467,733
|
|
|
Project, Series 2007, 5.250%, 9/20/47 (Alternative Minimum Tax)
|
|
|
|
|
6,530
|
Total Housing/Multifamily
|
|
|
6,671,030
|
|
|
Industrials – 2.0% (1.4% of Total Investments)
|
|
|
|
|
1,915
|
Cleveland-Cuyahoga County Port Authority, Ohio, Common Bond Fund Revenue Bonds, Cleveland
|
5/17 at 100.00
|
BBB+
|
1,927,639
|
|
|
Christian Home Project, Series 2002C, 5.950%, 5/15/22
|
|
|
|
|
3,495
|
Toledo-Lucas County Port Authority, Ohio, Revenue Refunding Bonds, CSX Transportation Inc.,
|
No Opt. Call
|
Baa1
|
4,156,499
|
|
|
Series 1992, 6.450%, 12/15/21
|
|
|
|
|
1,600
|
Western Reserve Port Authority, Ohio, Solid Waste Facility Revenue Bonds, Central Waste Inc.,
|
7/17 at 102.00
|
N/R
|
16
|
|
|
Series 2007A, 6.350%, 7/01/27 (Alternative Minimum Tax) (5)
|
|
|
|
|
7,010
|
Total Industrials
|
|
|
6,084,154
|
|
|
Long-Term Care – 1.1% (0.8% of Total Investments)
|
|
|
|
|
895
|
Franklin County, Ohio, Healthcare Facilities Revenue Bonds, Ohio Presbyterian Retirement Services,
|
7/21 at 100.00
|
BBB–
|
958,706
|
|
|
Improvement Series 2010A, 5.625%, 7/01/26
|
|
|
|
|
2,220
|
Montgomery County, Ohio, Health Care and Multifamily Housing Revenue Bonds, Saint Leonard,
|
4/20 at 100.00
|
BBB–
|
2,378,308
|
|
|
Refunding & improvement Series 2010, 6.625%, 4/01/40
|
|
|
|
|
3,115
|
Total Long-Term Care
|
|
|
3,337,014
|
|
|
Tax Obligation/General – 21.6% (14.5% of Total Investments)
|
|
|
|
|
|
Central Ohio Solid Waste Authority, General Obligation Bonds, Refunding & Improvements,
|
|
|
|
|
|
Series 2012:
|
|
|
|
|
1,140
|
5.000%, 12/01/26
|
6/22 at 100.00
|
Aaa
|
1,291,096
|
|
2,545
|
5.000%, 12/01/28
|
6/22 at 100.00
|
Aaa
|
2,866,815
|
|
1,605
|
5.000%, 12/01/29
|
6/22 at 100.00
|
Aaa
|
1,804,229
|
|
1,140
|
Columbia Local School District, Lorain County, Ohio, General Obligation Bonds, School Facilities
|
11/21 at 100.00
|
A2
|
1,219,287
|
|
|
Improvement Series 2011, 5.000%, 11/01/39 – AGM Insured
|
|
|
|
|
|
Columbus City School District, Franklin County, Ohio, General Obligation Bonds, Refunding
|
|
|
|
|
|
Series 2006:
|
|
|
|
|
4,310
|
0.000%, 12/01/27 – AGM Insured
|
No Opt. Call
|
AA+
|
2,997,088
|
|
5,835
|
0.000%, 12/01/28 – AGM Insured
|
No Opt. Call
|
AA+
|
3,888,852
|
|
2,250
|
Columbus, Ohio, General Obligation Bonds, Refunding Various Purpose Series 2016-3,
|
2/27 at 100.00
|
AAA
|
2,697,863
|
|
|
5.000%, 2/15/28
|
|
|
|
|
|
Dublin, Ohio, General Obligation Bonds, Limited Tax Various Purpose Series 2015:
|
|
|
|
|
725
|
5.000%, 12/01/26
|
12/25 at 100.00
|
Aaa
|
869,442
|
|
900
|
5.000%, 12/01/32
|
12/25 at 100.00
|
Aaa
|
1,048,032
|
|
1,000
|
5.000%, 12/01/34
|
12/25 at 100.00
|
Aaa
|
1,154,210
|
|
1,730
|
Franklin County, Ohio, General Obligation Bonds, Refunding Series 2014, 5.000%, 6/01/31
|
12/23 at 100.00
|
AAA
|
1,985,902
|
|
|
Gallia County Local School District, Gallia and Jackson Counties, Ohio, General Obligation Bonds,
|
|
|
|
|
|
Refunding School Improvement Series 2014:
|
|
|
|
|
1,260
|
5.000%, 11/01/30
|
11/24 at 100.00
|
Aa2
|
1,411,906
|
|
1,540
|
5.000%, 11/01/31
|
11/24 at 100.00
|
Aa2
|
1,719,780
|
|
|
Greenville City School District, Drake County, Ohio, General Obligation Bonds, School Improvement
|
|
|
|
|
|
Series 2013:
|
|
|
|
|
555
|
5.250%, 1/01/38
|
1/22 at 100.00
|
AA
|
611,555
|
|
1,355
|
5.250%, 1/01/41
|
1/22 at 100.00
|
AA
|
1,490,405
|
|
1,355
|
Grove City, Ohio, General Obligation Bonds, Construction & Improvement Series 2009,
|
12/19 at 100.00
|
Aa1
|
1,456,869
|
|
|
5.125%, 12/01/36
|
|
|
|
|
6,580
|
Indian Lake Local School District, Logan and Auglaize Counties, Ohio, School Facilities
|
6/17 at 100.00
|
AA–
|
6,691,267
|
|
|
Improvement and Refunding Bonds, Series 2007, 5.000%, 12/01/34 – NPFG Insured
|
|
|
|
|
2,160
|
Kenston Local School District, Geauga County, Ohio, General Obligation Bonds, Series 2011,
|
No Opt. Call
|
Aa1
|
1,930,133
|
|
|
0.000%, 12/01/21
|
|
|
|
|
2,620
|
Lucas County, Ohio, General Obligation Bonds, Various Purpose Series 2010, 5.000%, 10/01/40
|
10/18 at 100.00
|
AA
|
2,762,895
|
|
4,500
|
Middletown City School District, Butler County, Ohio, General Obligation Bonds, Refunding
|
No Opt. Call
|
A2
|
5,308,965
|
|
|
Series 2007, 5.250%, 12/01/31 – AGM Insured
|
|
|
|
|
1,305
|
Monroe Local School District, Butler County, Ohio, General Obligation Bonds, Series 2006,
|
No Opt. Call
|
A1
|
1,510,433
|
|
|
5.500%, 12/01/24 – AMBAC Insured
|
|
|
|
|
725
|
Napoleon City School District, Henry County, Ohio, General Obligation Bonds, Facilities
|
6/22 at 100.00
|
Aa3
|
785,799
|
|
|
Construction & Improvement Series 2012, 5.000%, 12/01/36
|
|
|
|
|
3,000
|
Ohio State, General Obligation Bonds, Highway Capital Improvement, Series 2014R,
|
5/24 at 100.00
|
AAA
|
3,417,090
|
|
|
5.000%, 5/01/29
|
|
|
|
|
3,055
|
Ohio State, General Obligation Bonds, Refunding Common Schools Series 2015B, 5.000%, 6/15/32
|
6/22 at 100.00
|
AA+
|
3,403,331
|
|
5,000
|
South Euclid, Ohio, General Obligation Bonds, Real Estate Acquisition and Urban Redevelopment,
|
6/22 at 100.00
|
Aa2
|
5,395,800
|
|
|
Series 2012, 5.000%, 6/01/42
|
|
|
|
|
2,250
|
South-Western City School District, Franklin and Pickaway Counties, Ohio, General Obligation
|
6/22 at 100.00
|
AA
|
2,489,940
|
|
|
Bonds, School Facilities Construction & Improvement Series 2012, 5.000%, 12/01/36
|
|
|
|
|
1,500
|
Springboro Community City School District, Warren County, Ohio, General Obligation Bonds,
|
No Opt. Call
|
AA
|
1,786,935
|
|
|
Refunding Series 2007, 5.250%, 12/01/32
|
|
|
|
|
61,940
|
Total Tax Obligation/General
|
|
|
63,995,919
|
|
|
Tax Obligation/Limited – 31.4% (21.2% of Total Investments)
|
|
|
|
|
|
Cleveland, Ohio, Income Tax Revenue Bonds, Bridges & Roadways Improvements, Subordinate Lien
|
|
|
|
|
|
Series 2013A-2:
|
|
|
|
|
1,315
|
5.000%, 10/01/27
|
10/23 at 100.00
|
AA
|
1,499,955
|
|
1,520
|
5.000%, 10/01/30
|
10/23 at 100.00
|
AA
|
1,712,584
|
|
1,600
|
5.000%, 10/01/31
|
10/23 at 100.00
|
AA
|
1,797,440
|
|
10,750
|
Cleveland, Ohio, Income Tax Revenue Bonds, Bridges & Roadways Improvements, Subordinate Lien
|
10/23 at 100.00
|
AA
|
11,887,457
|
|
|
Series 2015A-2, 5.000%, 10/01/37
|
|
|
|
|
3,000
|
Cleveland, Ohio, Income Tax Revenue Bonds, Public Facilities Improvements, Series 2014A-1,
|
11/23 at 100.00
|
AA
|
3,277,680
|
|
|
5.000%, 11/15/38
|
|
|
|
|
500
|
Columbus-Franklin County Finance Authority, Ohio, Development Revenue Bonds, Hubbard Avenue
|
12/19 at 100.00
|
BBB
|
516,730
|
|
|
Parking Facility Project, Series 2012A, 5.000%, 12/01/36
|
|
|
|
|
6,750
|
Cuyahoga County, Ohio, Economic Development Revenue Bonds, Medical Mart-Convention Center
|
12/20 at 100.00
|
Aa2
|
7,502,288
|
|
|
Project, Recovery Zone Facility Series 2010F, 5.000%, 12/01/27
|
|
|
|
|
|
Cuyahoga County, Ohio, Sales Tax Revenue Bonds, Refunding Various Purpose Series 2014:
|
|
|
|
|
1,815
|
5.000%, 12/01/32
|
12/24 at 100.00
|
AAA
|
2,068,791
|
|
1,415
|
5.000%, 12/01/33
|
12/24 at 100.00
|
AAA
|
1,605,332
|
|
1,000
|
5.000%, 12/01/34
|
12/24 at 100.00
|
AAA
|
1,130,720
|
|
945
|
5.000%, 12/01/35
|
12/24 at 100.00
|
AAA
|
1,066,395
|
|
300
|
Delaware County District Library, Ohio, Library Fund Library Facilities Special Obligation Notes,
|
12/19 at 100.00
|
Aa2
|
314,466
|
|
|
Notes, Series 2009, 5.000%, 12/01/34
|
|
|
|
|
1,920
|
Dublin, Ohio, Special Obligation Non-Tax Revenue Bonds, Series 2015A, 5.000%, 12/01/44
|
12/25 at 100.00
|
Aa1
|
2,120,467
|
|
10,350
|
Franklin County Convention Facilities Authority, Ohio, Tax and Lease Revenue Anticipation and
|
12/24 at 100.00
|
Aaa
|
11,601,832
|
|
|
Refunding Bonds, Columbus City & Franklin County Lessees, Series 2014, 5.000%, 12/01/35
|
|
|
|
|
1,000
|
Greater Cleveland Regional Transit Authority, Ohio, Sales Tax Supported Capital Improvement
|
12/25 at 100.00
|
AAA
|
1,126,500
|
|
|
Bonds, Refunding Series 2015, 5.000%, 12/01/34
|
|
|
|
|
1,200
|
Greater Cleveland Regional Transit Authority, Ohio, Sales Tax Supported Capital Improvement
|
12/26 at 100.00
|
AAA
|
1,408,992
|
|
|
Bonds, Refunding Series 2016, 5.000%, 12/01/28
|
|
|
|
|
2,250
|
Hamilton County, Ohio, Sales Tax Bonds, Refunding Series 2016A, 5.000%, 12/01/30
|
12/26 at 100.00
|
AA–
|
2,549,025
|
|
5,565
|
Hamilton County, Ohio, Sales Tax Bonds, Subordinate Series 2000B, 0.000%, 12/01/28 –
|
No Opt. Call
|
AA
|
3,655,704
|
|
|
AGM Insured
|
|
|
|
|
5,000
|
Hamilton County, Ohio, Sales Tax Revenue Bonds, Refunding Series 2011A, 5.000%, 12/01/31
|
12/21 at 100.00
|
A1
|
5,515,100
|
|
20,700
|
JobsOhio Beverage System, Ohio, Statewide Liquor Profits Revenue Bonds, Senior Lien Series
|
1/23 at 100.00
|
AA
|
22,625,513
|
|
|
2013A, 5.000%, 1/01/38
|
|
|
|
|
1,000
|
New Albany Community Authority, Ohio, Community Facilities Revenue Refunding Bonds, Series
|
10/22 at 100.00
|
A1
|
1,106,580
|
|
|
2012C, 5.000%, 10/01/24
|
|
|
|
|
2,000
|
Pinnacle Community Infrastructure Financing Authority, Grove City, Ohio, Community Facilities
|
No Opt. Call
|
AA
|
2,002,960
|
|
|
Bonds, Series 2015A, 4.250%, 12/01/36 – AGM Insured
|
|
|
|
|
|
Riversouth Authority, Ohio, Riversouth Area Redevelopment Bonds, Payable from City of Columbus,
|
|
|
|
|
|
Ohio Annual Rental Appropriations, Refunding Series 2012A:
|
|
|
|
|
1,645
|
5.000%, 12/01/23
|
12/22 at 100.00
|
AA+
|
1,876,846
|
|
1,200
|
5.000%, 12/01/24
|
12/22 at 100.00
|
AA+
|
1,357,020
|
|
|
Vermilion Local School District, East and Lorain Counties, Ohio, Certificates of Participation,
|
|
|
|
|
|
Series 2012:
|
|
|
|
|
765
|
5.000%, 12/01/24
|
No Opt. Call
|
Aa3
|
849,020
|
|
805
|
5.000%, 12/01/25
|
12/20 at 100.00
|
Aa3
|
891,127
|
|
86,310
|
Total Tax Obligation/Limited
|
|
|
93,066,524
|
|
|
Transportation – 10.2% (6.9% of Total Investments)
|
|
|
|
|
|
Cleveland, Ohio, Airport System Revenue Bonds, Series 2012A:
|
|
|
|
|
2,150
|
5.000%, 1/01/30
|
1/22 at 100.00
|
A–
|
2,329,224
|
|
1,500
|
5.000%, 1/01/31 – AGM Insured
|
1/22 at 100.00
|
AA
|
1,627,230
|
|
|
Dayton, Ohio, Airport Revenue Bonds, James M. Cox International Airport, Series 2015B:
|
|
|
|
|
860
|
5.000%, 12/01/33 – AGM Insured
|
12/23 at 100.00
|
AA
|
943,979
|
|
500
|
5.000%, 12/01/34 – AGM Insured
|
12/23 at 100.00
|
AA
|
546,875
|
|
|
Ohio State, Private Activity Bonds, Portsmouth Gateway Group, LLC – Borrower, Portsmouth Bypass
|
|
|
|
|
|
Project, Series 2015:
|
|
|
|
|
2,500
|
5.000%, 12/31/35 – AGM Insured (Alternative Minimum Tax)
|
6/25 at 100.00
|
AA
|
2,674,400
|
|
3,000
|
5.000%, 12/31/39 – AGM Insured (Alternative Minimum Tax)
|
6/25 at 100.00
|
AA
|
3,186,900
|
|
4,250
|
5.000%, 6/30/53 (Alternative Minimum Tax)
|
6/25 at 100.00
|
A–
|
4,424,504
|
|
3,550
|
Ohio Turnpike Commission, Revenue Refunding Bonds, Series 1998A, 5.500%, 2/15/18 –
|
No Opt. Call
|
AA
|
3,731,405
|
|
|
FGIC Insured
|
|
|
|
|
2,050
|
Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Project, Junior Lien Series
|
2/23 at 100.00
|
A+
|
2,277,509
|
|
|
2013A-1, 5.250%, 2/15/39
|
|
|
|
|
|
Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Projects, Junior Lien, Capital
|
|
|
|
|
|
Appreciation Series 2013A-2:
|
|
|
|
|
5,000
|
0.000%, 2/15/37
|
No Opt. Call
|
A+
|
2,126,850
|
|
11,260
|
0.000%, 2/15/38
|
No Opt. Call
|
A+
|
4,591,265
|
|
5,000
|
0.000%, 2/15/40
|
No Opt. Call
|
A+
|
1,864,850
|
|
41,620
|
Total Transportation
|
|
|
30,324,991
|
|
|
U.S. Guaranteed – 19.3% (13.0% of Total Investments) (6)
|
|
|
|
|
4,705
|
American Municipal Power Ohio Inc., Prairie State Energy Campus Project Revenue Bonds, Series
|
2/18 at 100.00
|
N/R (6)
|
4,941,896
|
|
|
2008A, 5.250%, 2/15/43 (Pre-refunded 2/15/18)
|
|
|
|
|
125
|
Barberton City School District, Summit County, Ohio, General Obligation Bonds, School
|
6/18 at 100.00
|
AA (6)
|
132,704
|
|
|
Improvement Series 2008, 5.250%, 12/01/31 (Pre-refunded 6/01/18)
|
|
|
|
|
|
Central Ohio Solid Waste Authority, General Obligation Bonds, Refunding & Improvements,
|
|
|
|
|
|
Series 2012:
|
|
|
|
|
110
|
5.000%, 12/01/26 (Pre-refunded 6/01/22)
|
6/22 at 100.00
|
N/R (6)
|
127,468
|
|
245
|
5.000%, 12/01/28 (Pre-refunded 6/01/22)
|
6/22 at 100.00
|
N/R (6)
|
283,906
|
|
160
|
5.000%, 12/01/29 (Pre-refunded 6/01/22)
|
6/22 at 100.00
|
N/R (6)
|
185,408
|
|
|
Cincinnati, Ohio, General Obligation Bonds, Various Purpose, Refunding Series 2012A:
|
|
|
|
|
1,960
|
5.000%, 12/01/31 (Pre-refunded 12/01/20)
|
12/20 at 100.00
|
AA (6)
|
2,213,722
|
|
875
|
5.000%, 12/01/32 (Pre-refunded 12/01/20)
|
12/20 at 100.00
|
AA (6)
|
988,269
|
|
2,000
|
Cleveland, Ohio, General Obligation Bonds, Series 2011, 5.000%, 12/01/29 (Pre-refunded 12/01/19)
|
12/19 at 100.00
|
AA (6)
|
2,208,300
|
|
|
Franklin County, Ohio, General Obligation Bonds, Various Purpose Series 2007:
|
|
|
|
|
3,355
|
5.000%, 12/01/27 (Pre-refunded 12/01/17)
|
12/17 at 100.00
|
AAA
|
3,493,729
|
|
1,840
|
5.000%, 12/01/28 (Pre-refunded 12/01/17)
|
12/17 at 100.00
|
AAA
|
1,916,084
|
|
|
Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Children’s Hospital Project,
|
|
|
|
|
|
Improvement Series 2009:
|
|
|
|
|
250
|
5.000%, 11/01/34 (Pre-refunded 11/01/19)
|
11/19 at 100.00
|
Aa2 (6)
|
275,300
|
|
2,615
|
5.250%, 11/01/40 (Pre-refunded 11/01/19)
|
11/19 at 100.00
|
Aa2 (6)
|
2,898,257
|
|
2,470
|
Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Children’s Hospital Project, Series
|
11/18 at 100.00
|
Aa2 (6)
|
2,648,828
|
|
|
2008A, 5.000%, 11/01/40 (Pre-refunded 11/01/18)
|
|
|
|
|
|
Greater Cleveland Regional Transit Authority, Ohio, Sales Tax Supported Capital Improvement
|
|
|
|
|
|
Bonds, Refunding Series 2012:
|
|
|
|
|
1,010
|
5.250%, 12/01/27 (Pre-refunded 12/01/21)
|
12/21 at 100.00
|
AAA
|
1,172,661
|
|
1,090
|
5.250%, 12/01/28 (Pre-refunded 12/01/21)
|
12/21 at 100.00
|
AAA
|
1,265,545
|
|
760
|
5.250%, 12/01/30 (Pre-refunded 12/01/21)
|
12/21 at 100.00
|
AAA
|
882,398
|
|
600
|
5.000%, 12/01/31 (Pre-refunded 12/01/21)
|
12/21 at 100.00
|
AAA
|
689,496
|
|
12,750
|
Hamilton City School District, Ohio, General Obligation Bonds, Series 2007, 5.000%, 12/01/34
|
6/17 at 100.00
|
AA (6)
|
13,018,642
|
|
|
(Pre-refunded 6/01/17) – AGM Insured
|
|
|
|
|
1,565
|
Lake County, Ohio, Hospital Facilities Revenue Bonds, Lake Hospital System, Inc., Refunding
|
8/18 at 100.00
|
N/R (6)
|
1,693,502
|
|
|
Series 2008C, 6.000%, 8/15/29 (Pre-refunded 8/15/18)
|
|
|
|
|
|
Lakewood City School District, Cuyahoga County, Ohio, General Obligation Bonds, Series 2007:
|
|
|
|
|
1,010
|
5.000%, 12/01/25 (Pre-refunded 12/01/17) – FGIC Insured
|
12/17 at 100.00
|
Aa2 (6)
|
1,051,764
|
|
775
|
5.000%, 12/01/30 (Pre-refunded 12/01/17) – FGIC Insured
|
12/17 at 100.00
|
Aa2 (6)
|
807,046
|
|
225
|
Marysville, Ohio, Wastewater Treatment System Revenue Bonds, Series 2007, 5.000%, 12/01/37
|
12/17 at 100.00
|
A (6)
|
234,230
|
|
|
(Pre-refunded 12/01/17) – SYNCORA GTY Insured
|
|
|
|
|
865
|
Marysville, Ohio, Water System Mortgage Revenue Bonds, Series 2007, 5.000%, 12/01/32
|
12/17 at 100.00
|
Aa3 (6)
|
900,586
|
|
|
(Pre-refunded 12/01/17) – AMBAC Insured
|
|
|
|
|
1,000
|
Mason City School District, Warren and Butler Counties, Ohio, General Obligation Bonds, School
|
6/17 at 100.00
|
Aa1 (6)
|
1,021,070
|
|
|
Improvement Series 2007, 5.000%, 12/01/31 (Pre-refunded 6/01/17)
|
|
|
|
|
1,500
|
Milford Exempted Village School District, Ohio, General Obligation Bonds, School Improvement
|
12/18 at 100.00
|
Aa3 (6)
|
1,621,050
|
|
|
Series 2008, 5.250%, 12/01/36 (Pre-refunded 12/01/18)
|
|
|
|
|
2,300
|
Northmor Local School District, Morrow County, Ohio, General Obligation Bonds, School
|
11/18 at 100.00
|
Aa2 (6)
|
2,466,980
|
|
|
Facilities Construction & Improvement Series 2008, 5.000%, 11/01/36 (Pre-refunded 11/01/18)
|
|
|
|
|
95
|
Ohio Higher Educational Facilities Commission, Revenue Bonds, University Hospitals Health
|
1/17 at 100.00
|
AA+ (6)
|
95,532
|
|
|
System Inc., Series 2007A, 5.250%, 1/15/46 (Pre-refunded 1/15/17) – BHAC Insured
|
|
|
|
|
3,000
|
Ohio State Higher Educational Facility Commission, Higher Education Facility Revenue Bonds,
|
11/18 at 100.00
|
A3 (6)
|
3,261,000
|
|
|
Xavier University 2008C, 5.750%, 5/01/28 (Pre-refunded 11/01/18)
|
|
|
|
|
950
|
Ohio State, Higher Educational Facility Revenue Bonds, Otterbein College Project, Series 2008A,
|
12/18 at 100.00
|
Baa1 (6)
|
1,030,560
|
|
|
5.500%, 12/01/28 (Pre-refunded 12/01/18)
|
|
|
|
|
1,220
|
Ohio Water Development Authority, Revenue Bonds, Drinking Water Assistance Fund, State Match,
|
6/18 at 100.00
|
AAA
|
1,290,662
|
|
|
Series 2008, 5.000%, 6/01/28 (Pre-refunded 6/01/18) – AGM Insured
|
|
|
|
|
500
|
Olentangy Local School District, Delaware and Franklin Counties, Ohio, General Obligation Bonds,
|
6/18 at 100.00
|
AAA
|
528,960
|
|
|
Series 2008, 5.000%, 12/01/36 (Pre-refunded 6/01/18)
|
|
|
|
|
700
|
Sylvania City School District, Lucas County, Ohio, General Obligation Bonds, School Improvement
|
6/17 at 100.00
|
AA (6)
|
715,330
|
|
|
Series 1995, 5.250%, 12/01/36 (Pre-refunded 6/01/17) – AGC Insured
|
|
|
|
|
|
Vandalia Butler City School District, Montgomery County, Ohio, General Obligation Bonds, School
|
|
|
|
|
|
Improvement Series 2009:
|
|
|
|
|
685
|
5.125%, 12/01/37 (Pre-refunded 6/01/19)
|
6/19 at 100.00
|
N/R (6)
|
747,924
|
|
315
|
5.125%, 12/01/37 (Pre-refunded 6/01/19)
|
6/19 at 100.00
|
Aa3 (6)
|
343,936
|
|
53,625
|
Total U.S. Guaranteed
|
|
|
57,152,745
|
|
|
Utilities – 4.5% (3.0% of Total Investments)
|
|
|
|
|
|
American Municipal Power Ohio Inc., Prairie State Energy Campus Project Revenue Bonds,
|
|
|
|
|
|
Series 2008A:
|
|
|
|
|
50
|
5.000%, 2/15/38 – AGC Insured
|
2/18 at 100.00
|
AA
|
51,772
|
|
295
|
5.250%, 2/15/43
|
2/18 at 100.00
|
A1
|
306,183
|
|
1,500
|
American Municipal Power Ohio Inc., Prairie State Energy Campus Project Revenue Bonds, Series
|
2/24 at 100.00
|
A1
|
1,611,510
|
|
|
2015A, 5.000%, 2/15/42
|
|
|
|
|
|
Cleveland, Ohio, Public Power System Revenue Bonds, Series 2008B:
|
|
|
|
|
2,000
|
0.000%, 11/15/28 – NPFG Insured
|
No Opt. Call
|
AA–
|
1,300,780
|
|
6,895
|
0.000%, 11/15/32 – NPFG Insured
|
No Opt. Call
|
AA–
|
3,599,397
|
|
2,155
|
0.000%, 11/15/34 – NPFG Insured
|
No Opt. Call
|
AA–
|
1,026,082
|
|
1,500
|
Ohio Air Quality Development Authority, Air Quality Revenue Refunding Bonds, Columbus Southern
|
12/19 at 100.00
|
BBB+
|
1,626,405
|
|
|
Power Company Project, Series 2009B, 5.800%, 12/01/38
|
|
|
|
|
2,000
|
Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy
|
No Opt. Call
|
CCC+
|
958,100
|
|
|
Generation Project, Refunding Series 2006A, 3.750%, 12/01/23 (Mandatory put 12/03/18)
|
|
|
|
|
2,025
|
Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Ohio Valley Electric Corporation
|
No Opt. Call
|
BBB–
|
2,186,453
|
|
|
Project, Series 2009E, 5.625%, 10/01/19
|
|
|
|
|
950
|
Ohio Municipal Electric Generation Agency, Beneficial Interest Certificates, Belleville Hydroelectric
|
No Opt. Call
|
AA–
|
621,120
|
|
|
Project – Joint Venture 5, Series 2001, 0.000%, 2/15/29 – NPFG Insured
|
|
|
|
|
19,370
|
Total Utilities
|
|
|
13,287,802
|
|
|
Water and Sewer – 19.0% (12.8% of Total Investments)
|
|
|
|
|
8,150
|
Cincinnati, Ohio, Water System Revenue Bonds, Series 2012A, 5.000%, 12/01/37
|
12/21 at 100.00
|
AAA
|
9,095,807
|
|
8,000
|
Cincinnati, Ohio, Water System Revenue Bonds, Series 2016A, 5.000%, 12/01/46 (WI/DD,
|
12/26 at 100.00
|
AAA
|
8,975,280
|
|
|
Settling 12/06/16)
|
|
|
|
|
|
Cleveland, Ohio, Water Revenue Bonds, Refunding Second Lien Series 2012A:
|
|
|
|
|
2,500
|
5.000%, 1/01/25
|
1/22 at 100.00
|
Aa2
|
2,822,200
|
|
1,975
|
5.000%, 1/01/26
|
1/22 at 100.00
|
Aa2
|
2,218,439
|
|
2,035
|
Cleveland, Ohio, Water Revenue Bonds, Senior Lien Series 2012X, 5.000%, 1/01/42
|
1/22 at 100.00
|
Aa1
|
2,252,928
|
|
865
|
Cleveland, Ohio, Waterworks First Mortgage Revenue Refunding and Improvement Bonds, Series
|
No Opt. Call
|
Aa1
|
935,895
|
|
|
1993G, 5.500%, 1/01/21 – NPFG Insured
|
|
|
|
|
1,275
|
Hamilton County, Ohio, Sewer System Revenue Bonds, Metropolitan Sewer District of Greater
|
12/24 at 100.00
|
AA+
|
1,450,364
|
|
|
Cincinnati, Refunding Series 2014A, 5.000%, 12/01/31
|
|
|
|
|
2,025
|
Ironton, Ohio, Sewer System Improvement Revenue Bonds, Series 2011, 5.250%, 12/01/40 –
|
12/20 at 100.00
|
A2
|
2,154,742
|
|
|
AGM Insured
|
|
|
|
|
2,950
|
Northeast Ohio Regional Sewer District, Wastewater Improvement Revenue Bonds, Refunding &
|
11/24 at 100.00
|
AA+
|
3,276,123
|
|
|
Improvement Series 2014, 5.000%, 11/15/39
|
|
|
|
|
2,000
|
Northeast Ohio Regional Sewer District, Wastewater Improvement Revenue Bonds, Series 2013,
|
5/23 at 100.00
|
AA+
|
2,212,200
|
|
|
5.000%, 11/15/38
|
|
|
|
|
|
Ohio Water Development Authority, Revenue Bonds, Fresh Water Development, Series 2016B:
|
|
|
|
|
2,220
|
5.000%, 12/01/33
|
12/26 at 100.00
|
AAA
|
2,572,114
|
|
3,105
|
5.000%, 12/01/34
|
12/26 at 100.00
|
AAA
|
3,583,076
|
|
|
Toledo, Ohio, Sewerage System Revenue Bonds, Refunding Series 2013:
|
|
|
|
|
820
|
5.000%, 11/15/25
|
11/23 at 100.00
|
Aa3
|
930,774
|
|
605
|
5.000%, 11/15/26
|
11/23 at 100.00
|
Aa3
|
681,339
|
|
1,075
|
5.000%, 11/15/27
|
11/23 at 100.00
|
Aa3
|
1,206,774
|
|
695
|
5.000%, 11/15/28
|
11/23 at 100.00
|
Aa3
|
776,614
|
|
10,000
|
Toledo, Ohio, Water System Revenue Bonds, Series 2016, 5.000%, 11/15/41 – AMBAC Insured (UB)
|
11/26 at 100.00
|
AA–
|
11,189,400
|
|
50,295
|
Total Water and Sewer
|
|
|
56,334,069
|
|
$ 433,745
|
Total Long-Term Investments (cost $421,852,206)
|
|
|
439,693,127
|
|
|
Floating Rate Obligations – (2.7)%
|
|
|
(8,000,000)
|
|
|
Variable Rate Demand Preferred Shares, at Liquidation Preference – (50.0)% (7)
|
|
|
(148,000,000)
|
|
|
Other Assets Less Liabilities – 4.3%
|
|
|
12,506,632
|
|
|
Net Assets Applicable to Common Shares – 100%
|
|
|
$ 296,199,759
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
Long-Term Investments:
|
|
|
|
|
Municipal Bonds
|
$ —
|
$439,693,127
|
$ —
|
$439,693,127
|
Gross unrealized:
|
|
Appreciation
|
$24,467,287
|
Depreciation
|
(6,434,392)
|
Net unrealized appreciation (depreciation) of investments
|
$18,032,895
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets applicable to common
|
|
|
shares unless otherwise noted.
|
|
(2)
|
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption.
|
|
|
There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities
|
|
|
may be subject to periodic principal paydowns.
|
|
(3)
|
For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group
|
|
|
(“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This
|
|
|
treatment of split-rated securities may differ from that used for other purposes, such as for Fund
|
|
|
investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are
|
|
|
considered to be below investment grade. Holdings designated N/R are not rated by any of these
|
|
|
national rating agencies.
|
|
(4)
|
Investment, or portion of investment, has been pledged to collateralize the net payment obligations
|
|
|
for investments in inverse floating rate transactions.
|
|
(5)
|
As of, or subsequent to, the end of the reporting period this security is non-income producing.
|
|
|
Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has
|
|
|
(1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal
|
|
|
Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future
|
|
|
interest payment obligations and has ceased accruing additional income on the Fund’s records.
|
(6)
|
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.
|
|
(7)
|
Variable Rate Demand Preferred Shares, at Liquidation Preference as a percentage of Total
|
|
|
Investments is 33.7%.
|
|
(WI/DD)
|
Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.
|
|
(IF)
|
Inverse floating rate investment.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction.
|
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.
|
By (Signature and Title) | /s/ Gifford R. Zimmerman |
Gifford R. Zimmerman
Vice President and Secretary
|
By (Signature and Title) | /s/ Cedric H. Antosiewicz |
Cedric H. Antosiewicz
Chief Administrative Officer (principal executive officer)
|
By (Signature and Title) | /s/ Stephen D. Foy |
Stephen D. Foy
Vice President and Controller (principal financial officer)
|