nq2.htm



 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
 
Investment Company Act file number 811-06384
 
Nuveen Texas Quality Income Municipal Fund
(Exact name of registrant as specified in charter)
 
Nuveen Investments
        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)
 

Kevin J. McCarthy
Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)
 
Registrant's telephone number, including area code:         312-917-7700        
 
Date of fiscal year end:            2/28          
 
Date of reporting period:         11/30/14         
 
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
 
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 
 
 

 
 
Item 1. Schedule of Investments
 
   
Portfolio of Investments
 
     
   
Nuveen Texas Quality Income Municipal Fund (NTX)
     
   
November 30, 2014 (Unaudited)
     
 
 
 
 
Principal
   
Optional Call
   
Amount (000)
 
Description (1)
Provisions (2)
Ratings (3)
Value
   
LONG-TERM INVESTMENTS – 143.5% (100.0% of Total Investments)
 
     
   
MUNICIPAL BONDS – 143.5% (100.0% of Total Investments)
 
     
   
Consumer Discretionary – 3.1% (2.1% of Total Investments)
     
   
Austin Convention Enterprises Inc., Texas, Convention Center Hotel Revenue Bonds, First Tier
     
   
Series 2006A:
     
$ 1,450
 
5.250%, 1/01/18 – SYNCORA GTY Insured
1/17 at 100.00
BBB–
$ 1,541,887
1,000
 
5.000%, 1/01/34 – SYNCORA GTY Insured
1/17 at 100.00
BBB–
1,016,420
2,200
 
San Antonio Convention Center Hotel Finance Corporation, Texas, Contract Revenue Empowerment
7/15 at 100.00
BBB
2,218,590
   
Zone Bonds, Series 2005A, 5.000%, 7/15/39 – AMBAC Insured (Alternative Minimum Tax)
     
4,650
 
Total Consumer Discretionary
   
4,776,897
   
Education and Civic Organizations – 13.1% (9.2% of Total Investments)
     
2,000
 
Board of Regents, University of Texas System, Financing System Revenue Bonds, Refunding Series
No Opt. Call
AAA
2,455,640
   
2012B, 5.000%, 8/15/22
     
   
Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education
     
   
Charter School, Series 2013A:
     
2,000
 
4.350%, 12/01/42
12/22 at 100.00
BBB–
2,014,800
1,000
 
4.400%, 12/01/47
12/22 at 100.00
BBB–
1,002,410
1,000
 
Danbury Higher Education Authority, Texas, Charter School Revenue Bonds, John H. Wood Jr.
8/23 at 100.00
BBB–
1,102,520
   
Public Charter District, Inspire Academies, Series 2013A, 6.000%, 8/15/28
     
1,000
 
Hale Center Education Facilities Corporation, Texas, Revenue Bonds, Wayland Baptist University
3/21 at 100.00
A–
1,076,900
   
Project, Improvement and Refunding Series 2010, 5.000%, 3/01/35
     
1,000
 
Harris County Cultural Education Facilities Finance Corporation, Texas, Medical Facilities Revenue
11/22 at 100.00
A–
1,136,480
   
Refunding Bonds, Baylor College of Medicine, Series 2012A, 5.000%, 11/15/26
     
3,000
 
Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Refunding Bonds,
6/23 at 100.00
Baa3
3,220,140
   
Young Men’s Christian Association of the Greater Houston Area, Series 2013A, 5.000%, 6/01/38
     
2,000
 
Laredo Community College District, Webb County, Texas, Combined Fee Revenue Bonds, Series
8/20 at 100.00
AA
2,277,220
   
2010, 5.250%, 8/01/35 – AGM Insured
     
2,000
 
Lone Star College System, Harris, Montgomery and San Jacinto Counties, Texas, Revenue
2/21 at 100.00
AA
2,274,820
   
Financing System Bonds, Series 2013, 5.000%, 2/15/36
     
200
 
Newark Cultural Education Facilities Finance Corporation, Texas, Lease Revenue Bonds, A.W.
2/15 at 103.00
BBB–
207,152
   
Brown-Fellowship Leadership Academy, Series 2012A, 6.000%, 8/15/42
     
   
Red River Education Finance Corporation, Texas, Revenue Bonds, Hockaday School, Series 2005:
     
1,170
 
5.000%, 5/15/27
5/15 at 100.00
AA
1,194,359
1,230
 
5.000%, 5/15/28
5/15 at 100.00
AA
1,252,952
1,290
 
5.000%, 5/15/29
5/15 at 100.00
AA
1,313,465
18,890
 
Total Education and Civic Organizations
   
20,528,858
   
Energy – 1.4% (0.9% of Total Investments)
     
2,000
 
Gulf Coast Industrial Development Authority, Texas, Solid Waste Disposal Revenue Bonds, Citgo
10/22 at 100.00
BB+
2,124,300
   
Petroleum Corporation Project, Series 1995, 4.875%, 5/01/25 (Alternative Minimum Tax)
     
   
Health Care – 11.5% (8.0% of Total Investments)
     
1,000
 
Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue
12/22 at 100.00
A+
1,098,840
   
Bonds, Memorial Hermann Healthcare System, Refunding Series 2013A, 5.000%, 12/01/35
     
1,350
 
Harrison County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Good
7/20 at 100.00
BB–
1,267,475
   
Shepherd Health System, Refunding Series 2010, 5.250%, 7/01/28
     
1,000
 
Lufkin Health Facilities Development Corporation, Texas, Health System Revenue Bonds, Memorial
2/17 at 100.00
BBB
1,077,770
   
Health System of East Texas, Series 2007, 5.500%, 2/15/32
     
2,000
 
North Central Texas Health Facilities Development Corporation, Texas, Revenue Bonds,
8/19 at 100.00
Aa2
2,273,440
   
Children’s Medical Center Dallas Project, Series 2009, 5.750%, 8/15/39
     
885
 
North Central Texas Health Facilities Development Corporation, Texas, Revenue Bonds,
8/22 at 100.00
Aa2
992,120
   
Children’s Medical Center Dallas Project, Series 2012, 5.000%, 8/15/32
     
515
 
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue
9/23 at 100.00
A2
570,260
   
Bonds, Hendrick Medical Center, Series 2013, 5.125%, 9/01/33
     
1,250
 
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue
8/20 at 100.00
Aa3
1,406,050
   
Bonds, Scott & White Healthcare Project, Series 2010, 5.250%, 8/15/40
     
1,590
 
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds,
1/19 at 100.00
AA
1,823,507
   
Christus Health, Refunding Series 2008A, 6.500%, 7/01/37 – AGC Insured
     
2,500
 
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Texas
11/17 at 100.00
AA
2,684,500
   
Health Resources, Series 2007B, 5.000%, 11/15/42
     
1,720
 
Tyler Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, East Texas
11/17 at 100.00
Baa2
1,802,526
   
Medical Center Regional Healthcare System, Series 2007A, 5.375%, 11/01/37
     
700
 
Tyler Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Mother Frances
7/17 at 100.00
Baa1
716,702
   
Hospital Regional Healthcare Center, Series 2007B, 5.000%, 7/01/37
     
2,250
 
Tyler Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Mother Frances
7/17 at 100.00
Baa1
2,313,158
   
Hospital Regional Healthcare Center, Series 2007, 5.000%, 7/01/33
     
16,760
 
Total Health Care
   
18,026,348
   
Housing/Multifamily – 2.1% (1.5% of Total Investments)
     
3,000
 
New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue
4/24 at 100.00
AA
3,264,570
   
Bonds, CHF-Collegiate Housing College Station I LLC – Texas A&M University Project, Series
     
   
2014A, 5.000%, 4/01/46 – AGM Insured
     
   
Long-Term Care – 1.0% (0.7% of Total Investments)
     
   
Bexar County, Texas, Health Facilities Development Corporation Revenue Bonds, Army Retirement
     
   
Residence, Series 2007:
     
865
 
5.000%, 7/01/27
7/17 at 100.00
BBB
888,424
600
 
5.000%, 7/01/37
7/17 at 100.00
BBB
608,412
1,465
 
Total Long-Term Care
   
1,496,836
   
Tax Obligation/General – 29.3% (20.4% of Total Investments)
     
400
 
Calallen Independent School District, Nueces County, Texas, General Obligation Bonds, School
2/18 at 100.00
AAA
440,052
   
Building Series 2008, 5.000%, 2/15/38
     
1,620
 
Cameron County, Texas, General Obligation Bonds, State Highway 550 Project, Series 2012,
2/22 at 100.00
AA
1,794,879
   
5.000%, 2/15/32 – AGM Insured
     
1,500
 
College Station, Texas, Certificates of Obligation, Series 2012, 5.000%, 2/15/32
2/21 at 100.00
AA+
1,710,015
1,000
 
El Paso County Hospital District, Texas, General Obligation Bonds, Refunding Series 2013,
8/23 at 100.00
AA–
1,124,960
   
5.000%, 8/15/33
     
1,750
 
El Paso County, Texas, Certificates of Obligation, Series 2001, 5.000%, 2/15/21 – AGM Insured
No Opt. Call
AA
2,096,745
8,500
 
Grand Prairie Independent School District, Dallas County, Texas, General Obligation Bonds,
8/18 at 22.64
AA
1,784,745
   
Capital Appreciation Refunding Series 2009, 0.000%, 8/15/39
     
3,255
 
Hutto Independent School District, Williamson County, Texas, General Obligation Bonds,
8/21 at 100.00
A
577,990
   
Refunding Series 2012A, 0.000%, 8/01/45
     
1,360
 
Jacksonville Independent School District, Cherokee County, Texas, General Obligation Bonds,
2/24 at 100.00
Aaa
1,562,722
   
School Building Series 2014, 5.000%, 2/15/39
     
2,675
 
Laredo Community College District, Webb County, Texas, General Obligation Bonds, Series 2014,
8/24 at 100.00
AA–
3,105,434
   
5.000%, 8/01/34
     
1,000
 
Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation
8/17 at 33.01
AAA
314,180
   
Bonds, Series 2008, 0.000%, 8/15/36
     
365
 
Lone Star College System, Harris and Montgomery Counties, Texas, General Obligation Bonds,
8/19 at 100.00
AAA
411,567
   
Series 2009, 5.000%, 8/15/34
     
1,350
 
Lubbock Independent School District, Lubbock County, Texas, General Obligation Bonds, School
No Opt. Call
AAA
1,532,061
   
Building Series 2013A, 5.000%, 2/15/43
     
1,750
 
Martin County Hospital District, Texas, Combination Limited Tax and Revenue Bonds, Series
4/21 at 100.00
BBB
1,967,140
   
2011A, 7.250%, 4/01/36
     
   
McCamey County Hospital District, Texas, General Obligation Bonds, Series 2013:
     
1,000
 
5.750%, 12/01/33
12/25 at 100.00
Baa2
1,116,790
1,000
 
6.125%, 12/01/38
12/25 at 100.00
Baa2
1,118,640
1,010
 
Mercedes Independent School District, Hidalgo County, Texas, General Obligation Bonds, Series
8/15 at 100.00
AAA
1,043,987
   
2005, 5.000%, 8/15/23
     
1,500
 
Montgomery County, Texas, General Obligation Bonds, Refunding Series 2008B, 5.250%, 3/01/32
3/19 at 100.00
AA+
1,705,605
2,000
 
Plano Independent School District, Collin County, Texas, General Obligation Bonds, Series
2/18 at 100.00
Aaa
2,223,760
   
2008A, 5.250%, 2/15/34
     
1,425
 
Port of Houston Authority, Harris County, Texas, General Obligation Bonds, Series 2010E,
No Opt. Call
AAA
733,790
   
0.000%, 10/01/35
     
205
 
Reagan Hospital District of Reagan County, Texas, Limited Tax Revenue Bonds, Series 2014A,
2/24 at 100.00
Baa2
215,476
   
5.125%, 2/01/39
     
   
Roma Independent School District, Texas, General Obligation Bonds, Series 2005:
     
1,110
 
5.000%, 8/15/22
8/15 at 100.00
AAA
1,147,352
1,165
 
5.000%, 8/15/23 – AGM Insured
8/15 at 100.00
AAA
1,204,202
2,000
 
Texas State, General Obligation Bonds, Transportation Commission Highway Improvement Series
No Opt. Call
AAA
2,258,220
   
2012A, 5.000%, 4/01/42
     
2,000
 
Texas State, General Obligation Bonds, Transportation Commission Highway Improvement, Series
4/24 at 100.00
AAA
2,305,200
   
2014, 5.000%, 4/01/44
     
2,000
 
Texas State, General Obligation Bonds, Transportation Commission Mobility Fund, Refunding
4/24 at 100.00
AAA
2,354,900
   
Series 2014, 5.000%, 10/01/34
     
5,000
 
Texas State, General Obligation Bonds, Transportation Commission Mobility Fund, Series 2006A,
4/17 at 100.00
AAA
5,437,700
   
5.000%, 4/01/33 – FGIC Insured (UB)
     
1,000
 
Texas State, General Obligation Bonds, Transportation Commission Mobility Fund, Series 2008,
4/18 at 100.00
AAA
1,117,470
   
5.000%, 4/01/30 (UB)
     
3,025
 
Victoria Independent School District, Victoria County, Texas, General Obligation Bonds, School
2/17 at 100.00
AAA
3,283,244
   
Building Series 2007, 5.000%, 2/15/32
     
   
West Texas Independent School District, McLennan and Hill Counties, General Obligation
     
   
Refunding Bonds, Series 1998:
     
45
 
0.000%, 8/15/22
8/15 at 68.26
AAA
29,662
45
 
0.000%, 8/15/24
8/15 at 61.20
AAA
26,596
   
White Settlement Independent School District, Tarrant County, Texas, General Obligation Bonds,
     
   
Series 2006:
     
240
 
0.000%, 8/15/43
8/15 at 23.11
AAA
54,029
240
 
0.000%, 8/15/44
8/15 at 21.88
AAA
51,125
65
 
0.000%, 8/15/45
8/15 at 20.76
AAA
13,137
52,600
 
Total Tax Obligation/General
   
45,863,375
   
Tax Obligation/Limited – 17.9% (12.5% of Total Investments)
     
1,000
 
Bexar County, Texas, Venue Project Revenue Bonds, Refunding Series 2010, 5.250%, 8/15/38 –
8/19 at 100.00
AA
1,125,460
   
AGM Insured
     
1,175
 
Dallas Area Rapid Transit, Texas, Sales Tax Revenue Bonds, Refunding Senior Lien Series 2014A,
12/24 at 100.00
AA+
1,368,581
   
5.000%, 12/01/36 (WI/DD, Settling 12/11/14)
     
7,940
 
Dallas Area Rapid Transit, Texas, Sales Tax Revenue Bonds, Senior Lien Refunding Series 2007,
12/16 at 100.00
AA+
8,475,394
   
5.000%, 12/01/36 – AMBAC Insured
     
500
 
Flower Mound, Texas, Special Assessment Revenue Bonds, River Walk Public Improvement District 1,
No Opt. Call
N/R
524,530
   
Series 2014, 6.500%, 9/01/36
     
1,390
 
Harris County Metropolitan Transit Authority, Texas, Sales and Use Tax Revenue Bonds, Series
11/21 at 100.00
AA+
1,570,617
   
2011A, 5.000%, 11/01/41
     
   
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H:
     
300
 
0.000%, 11/15/24 – NPFG Insured
No Opt. Call
AA–
195,201
210
 
0.000%, 11/15/32 – NPFG Insured
11/31 at 94.05
AA–
89,660
260
 
0.000%, 11/15/33
11/31 at 88.44
AA–
103,519
2,045
 
0.000%, 11/15/34 – NPFG Insured
11/31 at 83.17
AA–
759,390
1,130
 
0.000%, 11/15/36 – NPFG Insured
11/31 at 73.51
AA–
364,809
4,270
 
0.000%, 11/15/38 – NPFG Insured
11/31 at 64.91
AA–
1,207,214
2,260
 
0.000%, 11/15/39 – NPFG Insured
11/31 at 60.98
AA–
595,261
3,440
 
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Senior Lien Series 2001G,
11/31 at 53.78
AA–
786,006
   
0.000%, 11/15/41 – NPFG Insured
     
1,000
 
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Third Lien Series 2004A-3,
11/24 at 59.10
AA–
369,840
   
0.000%, 11/15/33 – NPFG Insured
     
1,500
 
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment
No Opt. Call
A2
1,555,785
   
Facilities Department, Refunding Series 2011B, 5.000%, 9/01/30
     
1,015
 
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment
No Opt. Call
A2
1,148,401
   
Facilities Department, Refunding Series 2014, 5.000%, 9/01/34
     
1,470
 
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment
No Opt. Call
A2
668,130
   
Project, Series 2001B, 0.000%, 9/01/32 – AMBAC Insured
     
250
 
Little Elm. Texas, Valencia Public Improvement District Phase I Special Assessment Revenue
3/18 at 103.00
N/R
261,620
   
Bonds, Series 2014, 7.150%, 9/01/37
     
3,000
 
North Texas Tollway Authority, Special Projects System Revenue Bonds, Current Interest Series
9/21 at 100.00
AA+
3,418,560
   
2011D, 5.000%, 9/01/31
     
2,000
 
North Texas Tollway Authority, Special Projects System Revenue Bonds, Series 2011A,
9/21 at 100.00
AA+
2,354,280
   
5.500%, 9/01/41
     
1,000
 
Uptown Development Authority, Houston, Texas, Tax Increment Revenue Bonds, Infrastructure
9/19 at 100.00
BBB
1,097,940
   
Improvement Facilities, Series 2009, 5.500%, 9/01/29
     
37,155
 
Total Tax Obligation/Limited
   
28,040,198
   
Transportation – 15.0% (10.5% of Total Investments)
     
   
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2010:
     
2,945
 
0.000%, 1/01/36
No Opt. Call
BBB
1,093,714
2,205
 
0.000%, 1/01/37
No Opt. Call
BBB
781,342
2,160
 
0.000%, 1/01/38
No Opt. Call
BBB
726,732
1,000
 
0.000%, 1/01/40
No Opt. Call
BBB
303,200
665
 
Central Texas Regional Mobility Authority, Revenue Bonds, Subordinate Lien Refunding Series
1/23 at 100.00
BBB–
711,031
   
2013, 5.000%, 1/01/42
     
1,000
 
Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2010A,
11/20 at 100.00
A+
1,088,818
   
5.000%, 11/01/42
     
1,165
 
Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2012B,
11/20 at 100.00
A+
1,293,802
   
5.000%, 11/01/35
     
1,670
 
Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, First Tier Series
10/23 at 100.00
BBB+
1,791,309
   
2013A, 5.125%, 10/01/43
     
1,165
 
Harris County, Texas, Toll Road Revenue Bonds, Refunding Senior Lien Series 2012C,
No Opt. Call
AA
1,327,354
   
5.000%, 8/15/31
     
2,000
 
Houston, Texas, Subordinate Lien Airport System Revenue Refunding Bonds, Series 2012A, 5.000%,
7/22 at 100.00
A
2,210,360
   
7/01/31 (Alternative Minimum Tax)
     
3,000
 
Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds,
11/20 at 100.00
BBB
3,221,340
   
Southwest Airlines Company, Series 2010, 5.250%, 11/01/40
     
395
 
North Texas Tollway Authority, First Tier System Revenue Refunding Bonds, Series 2008A,
1/18 at 100.00
A2
439,248
   
5.750%, 1/01/40
     
   
North Texas Tollway Authority, First Tier System Revenue Refunding Bonds, Series 2008B:
     
325
 
5.750%, 1/01/40
1/18 at 100.00
A2
361,407
225
 
5.750%, 1/01/40 – NPFG Insured
1/18 at 100.00
AA–
250,205
2,500
 
North Texas Tollway Authority, First Tier System Revenue Refunding Bonds, Series 2008D,
No Opt. Call
AA
1,031,850
   
0.000%, 1/01/36 – AGC Insured
     
950
 
North Texas Tollway Authority, Second Tier System Revenue Refunding Bonds, Series 2008F,
1/18 at 100.00
A3
1,050,995
   
5.750%, 1/01/38
     
   
North Texas Tollway Authority, System Revenue Bonds, First Tier Series 2009A:
     
100
 
6.100%, 1/01/28
1/19 at 100.00
A2
117,557
2,000
 
6.250%, 1/01/39
1/19 at 100.00
A2
2,319,920
2,500
 
San Antonio, Texas, Airport System Revenue Bonds, Refunding Series 2012, 5.000%, 7/01/27
7/22 at 100.00
A+
2,856,300
   
(Alternative Minimum Tax)
     
1,250
 
Texas Turnpike Authority, Central Texas Turnpike System Revenue Bonds, First Tier Series
2/15 at 100.00
A–
521,388
   
2002A, 0.000%, 8/15/29 – AMBAC Insured
     
29,220
 
Total Transportation
   
23,497,872
   
U.S. Guaranteed – 18.4% (12.8% of Total Investments) (4)
     
650
 
Bexar County, Texas, General Obligation Bonds, Series 2004, 5.000%, 6/15/19 (Pre-refunded 2/02/15)
2/15 at 100.00
Aaa
652,600
2,000
 
Borger Independent School District, Hutchison County, Texas, General Obligation Bonds, Series
2/16 at 100.00
AAA
2,114,120
   
2006, 5.000%, 2/15/36 (Pre-refunded 2/15/16)
     
3,455
 
Brownsville, Texas, Utility System Priority Revenue Bonds, Series 2005A, 5.000%, 9/01/27
9/15 at 100.00
A2 (4)
3,582,075
   
(Pre-refunded 9/01/15) – AMBAC Insured
     
1,190
 
Canutillo Independent School District, El Paso County, Texas, General Obligation Bonds, Series
8/15 at 100.00
AAA
1,231,341
   
2006A, 5.000%, 8/15/22 (Pre-refunded 8/15/15)
     
3,615
 
Frisco, Texas, General Obligation Bonds, Series 2006, 5.000%, 2/15/26 (Pre-refunded 2/15/16) –
2/16 at 100.00
AA+ (4)
3,821,742
   
FGIC Insured
     
2,250
 
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Senior Lien Series 2001G,
1/15 at 100.00
AA– (4)
2,252,205
   
5.250%, 11/15/22 (Pre-refunded 1/28/15) – NPFG Insured
     
4,000
 
Houston, Texas, General Obligation Bonds, Series 2005E, 5.000%, 3/01/23 (Pre-refunded 3/01/15) –
3/15 at 100.00
AA+ (4)
4,050,480
   
AMBAC Insured
     
25
 
Lower Colorado River Authority, Texas, Revenue Bonds, Refunding Series 2012B, 5.000%, 5/15/29
5/22 at 100.00
N/R (4)
30,342
   
(Pre-refunded 5/15/22)
     
   
Lower Colorado River Authority, Texas, Revenue Bonds, Series 2008:
     
1,785
 
5.750%, 5/15/37 (Pre-refunded 5/15/15)
5/15 at 100.00
A1 (4)
1,830,999
40
 
5.750%, 5/15/37 (Pre-refunded 5/15/15)
5/15 at 100.00
N/R (4)
41,031
25
 
5.750%, 5/15/37 (Pre-refunded 5/15/15)
5/15 at 100.00
N/R (4)
25,644
3,580
 
Midlothian Independent School District, Ellis County, Texas, General Obligation Bonds, Series
2/15 at 100.00
N/R (4)
3,617,518
   
2005, 5.000%, 2/15/34 (Pre-refunded 2/15/15)
     
1,000
 
North Central Texas Health Facilities Development Corporation, Hospital Revenue Bonds,
No Opt. Call
Aaa
1,241,590
   
Presbyterian Healthcare System, Series 1996A, 5.750%, 6/01/26 – NPFG Insured (ETM)
     
2,500
 
Retama Development Corporation, Texas, Special Facilities Revenue Bonds, Retama Park
12/17 at 100.00
Aaa
3,100,075
   
Racetrack, Series 1993, 8.750%, 12/15/18 (Pre-refunded 12/15/17)
     
410
 
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds,
1/19 at 100.00
AA (4)
496,596
   
Christus Health, Refunding Series 2008A, 6.500%, 7/01/37 (Pre-refunded 1/01/19) – AGC Insured
     
   
White Settlement Independent School District, Tarrant County, Texas, General Obligation Bonds,
     
   
Series 2006:
     
1,260
 
0.000%, 8/15/43 (Pre-refunded 8/15/15)
8/15 at 23.11
N/R (4)
290,846
1,260
 
0.000%, 8/15/44 (Pre-refunded 8/15/15)
8/15 at 21.88
N/R (4)
275,247
360
 
0.000%, 8/15/45 (Pre-refunded 8/15/15)
8/15 at 20.76
N/R (4)
74,628
29,405
 
Total U.S. Guaranteed
   
28,729,079
   
Utilities – 16.0% (11.1% of Total Investments)
     
3,000
 
Austin, Texas, Electric Utility System Revenue Bonds, Refunding Series 2012A, 5.000%, 11/15/40
No Opt. Call
AA–
3,346,800
2,560
 
Brazos River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric
4/15 at 100.00
C
210,944
   
Company, Series 1999C, 7.700%, 3/01/32 (Alternative Minimum Tax) (5)
     
1,545
 
Brownsville, Texas, Utility System Priority Revenue Bonds, Series 2005A, 5.000%, 9/01/27 –
9/15 at 100.00
A+
1,594,888
   
AMBAC Insured
     
2,000
 
Bryan, Brazos County, Texas, Electric System Revenue Bonds, Series 2009, 5.000%, 7/01/34
7/17 at 100.00
A+
2,167,160
3,000
 
Lower Colorado River Authority, Texas, Refunding Revenue Bonds, Series 2010A, 5.000%, 5/15/40
5/20 at 100.00
A1
3,268,230
1,150
 
Lower Colorado River Authority, Texas, Revenue Bonds, Refunding Series 2012A, 5.000%, 5/15/36
5/22 at 100.00
A1
1,275,580
1,975
 
Lower Colorado River Authority, Texas, Revenue Bonds, Refunding Series 2012B, 5.000%, 5/15/29
5/22 at 100.00
A1
2,255,095
150
 
Lower Colorado River Authority, Texas, Revenue Bonds, Series 2008, 5.750%, 5/15/37
5/15 at 100.00
A1
153,231
1,500
 
Matagorda County Navigation District Number One, Texas, Pollution Control Revenue Refunding
7/19 at 102.00
Baa1
1,721,250
   
Bonds, Central Power and Light Company Project, Series 2009A, 6.300%, 11/01/29
     
1,000
 
Sam Rayburn Municipal Power Agency, Texas, Power Supply System Revenue Bonds, Refunding Series
No Opt. Call
BBB+
1,172,570
   
2012, 5.000%, 10/01/20
     
   
Texas Municipal Gas Acquisition and Supply Corporation I, Gas Supply Revenue Bonds, Senior
     
   
Lien Series 2008D:
     
770
 
5.625%, 12/15/17
No Opt. Call
A–
837,406
3,000
 
6.250%, 12/15/26
No Opt. Call
A–
3,692,038
1,000
 
Texas Municipal Gas Acquisition and Supply Corporation I, Gas Supply Revenue Bonds, Series
No Opt. Call
A–
1,151,620
   
2006A, 5.250%, 12/15/20
     
   
Texas Municipal Power Agency, Revenue Bonds, Transmission Refunding Series 2010:
     
640
 
5.000%, 9/01/34
9/20 at 100.00
A+
697,830
1,000
 
5.000%, 9/01/40
9/20 at 100.00
A+
1,083,800
325
 
Texas State, General Obligation Bonds, Water Utility, Series 2001, 5.250%, 8/01/23
2/15 at 100.00
AAA
326,368
24,615
 
Total Utilities
   
24,954,810
   
Water and Sewer – 14.7% (10.3% of Total Investments)
     
1,575
 
Bell County Water Control Improvement District 1, Texas, Water Revenue Bonds, Series 2014,
7/23 at 100.00
AA
1,776,222
   
5.000%, 7/10/38 – BAM Insured
     
2,500
 
Bexar Metropolitan Water District, Texas, Waterworks System Revenue Bonds, Refunding Series
5/20 at 100.00
A+
2,821,925
   
2010, 5.875%, 5/01/40
     
2,500
 
Canadian River Municipal Water Authority, Texas, Contract Revenue Bonds, Conjunctive Use
2/21 at 100.00
AA
2,841,525
   
Groundwater Supply Project, Subordinate Lien Series 2011, 5.000%, 2/15/31
     
2,000
 
Corpus Christi, Texas, Utility System Revenue Bonds, Improvement Junior Lien Series 2013,
7/23 at 100.00
A1
2,189,740
   
5.000%, 7/15/43
     
1,000
 
El Paso, Texas, Water and Sewer Revenue Bonds, Refunding Series 2008C, 5.375%, 3/01/29
3/18 at 100.00
AA+
1,131,580
2,000
 
Houston, Texas, First Lien Combined Utility System Revenue Bonds, Refunding Series 2012D,
11/22 at 100.00
AA
2,252,040
   
5.000%, 11/15/42
     
   
Irving, Texas, Waterworks and Sewerage Revenue Bonds, Subordinate Lien Series 2004:
     
100
 
5.000%, 8/15/22 – AMBAC Insured
2/15 at 100.00
Aa1
100,400
105
 
5.000%, 8/15/23 – AMBAC Insured
2/15 at 100.00
Aa1
105,420
4,000
 
Laredo, Webb County, Texas, Waterworks and Sewer System Revenue Bonds, Series 2010,
3/20 at 100.00
AA–
4,635,920
   
5.250%, 3/01/40
     
710
 
North Fort Bend Water Authority, Texas, Water System Revenue Bonds, Series 2011, 5.000%,
12/21 at 100.00
AA
777,620
   
12/15/36 – AGM Insured
     
3,860
 
North Harris County Regional Water Authority, Texas, Water Revenue Bonds, Senior Lien
12/22 at 100.00
AA–
4,400,863
   
Refunding Series 2013, 5.000%, 12/15/33
     
20,350
 
Total Water and Sewer
   
23,033,255
$ 240,110
 
Total Long-Term Investments (cost $208,105,549)
   
224,336,398
   
Floating Rate Obligations – (2.5)%
   
(3,960,000)
   
MuniFund Term Preferred Shares, at Liquidation Value – (45.4)% (6)
   
(70,920,000)
   
Other Assets Less Liabilities – 4.4% (7)
   
6,838,678
   
Net Assets Applicable to Common Shares – 100%
   
$ 156,295,076
 
 
 
 

 
 
 
Investments in Derivatives as of November 30, 2014 
         
Credit Default Swaps outstanding:
             
Counterparty
Referenced Entity
Buy/Sell
Protection (8)
Current
Credit
Spread (9)
Notional
Amount
Fixed Rate
(Annualized)
Termination
Date
Value
Unrealized
Appreciation
(Depreciation) (7)
Citibank N.A.
Commonwealth of Puerto Rico
Buy
25.5%
$1,830,000
5.000%
12/20/19
$443,257
$1,925
 
Fair Value Measurements
 
Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
 
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
 
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
 
The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
 
 
Level 1
Level 2
Level 3
Total
Long-Term Investments:
       
Municipal Bonds
$ —
$224,336,398
$ —
$224,336,398
Investments in Derivatives:
       
Credit Default Swaps*
1,925
1,925
Total
$ —
$224,338,323
$ —
$224,338,323
*Represents net unrealized appreciation (depreciation).
 
Income Tax Information
 
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
 
As of November 30, 2014, the cost of investments (excluding investments in derivatives) was $204,868,547.
 
Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of November 30, 2014, were as follows:
   
Gross unrealized:
 
Appreciation
$19,032,639
Depreciation
(3,524,789)
Net unrealized appreciation (depreciation) of investments
$15,507,850
     
(1)
 
All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares
   
unless otherwise noted.
(2)
 
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There
   
may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be
   
subject to periodic principal paydowns.
(3)
 
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service,
   
Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or
   
BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any
   
of these national rating agencies.
(4)
 
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities,
   
which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or
   
agency securities are regarded as having an implied rating equal to the rating of such securities.
(5)
 
At 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
   
directed the Fund’s custodian to cease accruing additional income on the Fund’s records.
(6)
 
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 31.6%.
(7)
 
Other Assets Less Liabilities includes the Unrealized Appreciation (Depreciation) of derivative instruments
   
as listed within Investments in Derivatives as of the end of the reporting period.
(8)
 
The Fund entered into the credit default swap to gain investment exposure to the referenced entity. Selling
   
protection has a similar credit risk position to owning that referenced entity. Buying protection has a
   
similar credit risk position to selling the referenced entity short.
(9)
 
The credit spread generally serves as an indication of the current status of the payment/performance risk
   
and therefore the likelihood of default of the credit derivative. The credit spread also reflects the cost of
   
buying/selling protection and may include upfront payments required to be made to enter into a credit
   
default swap contract. Higher credit spreads are indicative of a higher likelihood of performance by the
   
seller of protection.
(ETM)
 
Escrowed to maturity.
(UB)
 
Underlying bond of an inverse floating rate trust reflected as a financing transaction.
WI/DD
 
Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.
 
 
 
 

 
 
Item 2. Controls and Procedures.

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

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

 
 
 

 
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
(Registrant)  Nuveen Texas Quality Income Municipal Fund 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date:         January 29, 2015        
 
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
 
By (Signature and Title)     /s/ Gifford R. Zimmerman                    
                                                    Gifford R. Zimmerman
                                                  Chief Administrative Officer (principal executive officer) 
 
Date:         January 29, 2015        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date:         January 29, 2015