Chairman’s Letter to Shareholders
|
4
|
Portfolio Managers’ Comments
|
5
|
Fund Leverage and Other Information
|
12
|
Common Share Dividend and Share Price Information
|
15
|
Performance Overviews
|
16
|
Shareholder Meeting Report
|
24
|
Portfolios of Investments
|
25
|
Statement of Assets and Liabilities
|
62
|
Statement of Operations
|
64
|
Statement of Changes in Net Assets
|
66
|
Statement of Cash Flows
|
69
|
Financial Highlights
|
71
|
Notes to Financial Statements
|
83
|
Reinvest Automatically, Easily and Conveniently
|
97
|
Glossary of Terms Used in this Report
|
99
|
Additional Fund Information
|
103
|
4
|
Nuveen Investments
|
Nuveen Investments
|
5
|
6
|
Nuveen Investments
|
6-Month
|
1-Year
|
5-Year
|
10-Year
|
||||||||||
Connecticut Funds
|
|||||||||||||
NTC
|
5.19
|
%
|
6.86
|
%
|
4.64
|
%
|
5.62
|
%
|
|||||
NFC
|
5.53
|
%
|
7.25
|
%
|
4.84
|
%
|
6.06
|
%
|
|||||
NGK
|
5.34
|
%
|
6.11
|
%
|
4.73
|
%
|
N/A
|
||||||
NGO
|
5.17
|
%
|
6.97
|
%
|
4.42
|
%
|
N/A
|
||||||
Standard & Poor’s (S&P) Connecticut Municipal Bond Index**
|
3.03
|
%
|
5.05
|
%
|
4.33
|
%
|
4.67
|
%
|
|||||
Standard & Poor’s (S&P) National Municipal Bond Index**
|
4.35
|
%
|
6.50
|
%
|
4.40
|
%
|
5.08
|
%
|
|||||
Lipper Other States Municipal Debt Funds Classification Average**
|
6.67
|
%
|
8.40
|
%
|
4.70
|
%
|
5.72
|
%
|
|||||
Massachusetts Funds
|
|||||||||||||
NMT
|
6.19
|
%
|
8.61
|
%
|
4.82
|
%
|
5.68
|
%
|
|||||
NMB
|
5.71
|
%
|
8.12
|
%
|
4.18
|
%
|
6.01
|
%
|
|||||
Standard & Poor’s (S&P) Massachusetts Municipal Bond Index**
|
3.78
|
%
|
6.41
|
%
|
4.91
|
%
|
5.28
|
%
|
|||||
Standard & Poor’s (S&P) National Municipal Bond Index**
|
4.35
|
%
|
6.50
|
%
|
4.40
|
%
|
5.08
|
%
|
|||||
Lipper Other States Municipal Debt Funds Classification Average**
|
6.67
|
%
|
8.40
|
%
|
4.70
|
%
|
5.72
|
%
|
|||||
Insured Massachusetts Fund
|
|||||||||||||
NGX
|
3.91
|
%
|
6.18
|
%
|
4.44
|
%
|
N/A
|
||||||
Standard & Poor’s (S&P) Massachusetts Municipal Bond Index**
|
3.78
|
%
|
6.41
|
%
|
4.91
|
%
|
5.28
|
%
|
|||||
Standard & Poor’s (S&P) National Insured Municipal Bond Index**
|
4.85
|
%
|
6.95
|
%
|
4.42
|
%
|
5.15
|
%
|
|||||
Lipper Single-State Insured Municipal Debt Funds
|
|||||||||||||
Classification Average**
|
6.20
|
%
|
8.01
|
%
|
4.26
|
%
|
5.79
|
%
|
|||||
Missouri Fund
|
|||||||||||||
NOM
|
7.18
|
%
|
9.48
|
%
|
4.12
|
%
|
5.37
|
%
|
|||||
Standard & Poor’s (S&P) Missouri Municipal Bond Index**
|
4.47
|
%
|
7.21
|
%
|
4.53
|
%
|
5.23
|
%
|
|||||
Standard & Poor’s (S&P) National Municipal Bond Index**
|
4.35
|
%
|
6.50
|
%
|
4.40
|
%
|
5.08
|
%
|
|||||
Lipper Other States Municipal Debt Funds Classification Average**
|
6.67
|
%
|
8.40
|
%
|
4.70
|
%
|
5.72
|
%
|
*
|
Six-month returns are cumulative; all other returns are annualized.
|
**
|
For definitions, refer to the Glossary of Terms Used in this Report.
|
Past performance is not predictive of future results. Current performance may be higher or lower than the data shown. Returns do not reflect the deduction of taxes that shareholders may have to pay on Fund distributions or upon the sale of Fund shares.
|
|
For additional information, see the individual Performance Overview for your Fund in this report.
|
Nuveen Investments
|
7
|
8
|
Nuveen Investments
|
•
|
Lower Fund expense ratios (excluding the effects of leverage), as fixed costs are spread over a larger asset base;
|
•
|
Enhanced secondary market trading, as larger Funds potentially make it easier for investors to buy and sell fund shares;
|
•
|
Lower per share trading costs through reduced bid/ask spreads due to a larger common share float; and
|
•
|
Increased Fund flexibility in managing the structure and cost of leverage over time.
|
Nuveen Investments
|
9
|
Acquired Funds
|
Acquiring Fund
|
|
Nuveen Connecticut Dividend Advantage Municipal Fund (NFC)
|
Nuveen Connecticut Premium Income Municipal Fund (NTC)
|
|
Nuveen Connecticut Dividend Advantage Municipal Fund 2 (NGK)
|
||
Nuveen Connecticut Dividend Advantage Municipal Fund 3 (NGO)
|
10
|
Nuveen Investments
|
Nuveen Investments
|
11
|
12
|
Nuveen Investments
|
MTP Shares Issued |
Annual
|
NYSE | ||||||||||
Fund
|
Series
|
At Liquidation Value |
Interest Rate
|
Ticker
|
||||||||
NTC
|
2015
|
$
|
18,300,000
|
2.65
|
%
|
NTC Pr C
|
||||||
NTC
|
2016
|
$
|
17,780,000
|
2.55
|
%
|
NTC Pr D
|
||||||
NFC
|
2015
|
$
|
20,470,000
|
2.60
|
%
|
NFC Pr C
|
||||||
NGK
|
2015
|
$
|
16,950,000
|
2.60
|
%
|
NGK Pr C
|
||||||
NGO
|
2015
|
$
|
32,000,000
|
2.65
|
%
|
NGO Pr C
|
||||||
NMT
|
2015
|
$
|
20,210,000
|
2.65
|
%
|
NMT Pr C
|
||||||
NMT
|
2016
|
$
|
16,435,000
|
2.75
|
%
|
NMT Pr D
|
||||||
NMB
|
2015
|
$
|
14,725,000
|
2.60
|
%
|
NMB Pr C
|
||||||
NGX
|
2015
|
$
|
22,075,000
|
2.65
|
%
|
NGX Pr C
|
||||||
NOM
|
2015
|
$
|
17,880,000
|
2.10
|
%
|
NOM Pr C
|
Nuveen Investments
|
13
|
14
|
Nuveen Investments
|
11/30/11
|
6-Month Average
|
|
Fund
|
(+) Premium/(-)Discount
|
(+) Premium/(-)Discount
|
NTC
|
(-) 3.84%
|
(-) 7.47%
|
NFC
|
(+) 0.27%
|
(-) 3.49%
|
NGK
|
(-) 0.20%
|
(-) 2.41%
|
NGO
|
(-) 6.02%
|
(-) 8.35%
|
NMT
|
(-) 5.87%
|
(-) 5.85%
|
NMB
|
(-) 5.64%
|
(-) 6.15%
|
NGX
|
(-) 6.46%
|
(-) 6.34%
|
NOM
|
(+)15.72%
|
(+)9.29%
|
Nuveen Investments
|
15
|
NTC
|
Nuveen Connecticut
|
|
Performance
|
Premium Income
|
|
OVERVIEW
|
Municipal Fund
|
|
as of November 30, 2011
|
Fund Snapshot
|
||||
Common Share Price
|
$
|
14.04
|
||
Common Share Net Asset Value (NAV)
|
$
|
14.60
|
||
Premium/(Discount) to NAV
|
-3.84
|
%
|
||
Market Yield
|
5.04
|
%
|
||
Taxable-Equivalent Yield1
|
7.37
|
%
|
||
Net Assets Applicable to Common Shares ($000)
|
$
|
78,350
|
Leverage
|
||||
Structural Leverage
|
31.53
|
%
|
||
Effective Leverage
|
35.99
|
%
|
Average Annual Total Return
|
|||||||
(Inception 5/20/93)
|
|||||||
On Share Price
|
On NAV
|
||||||
6-Month (Cumulative)
|
9.33
|
%
|
5.19
|
%
|
|||
1-Year
|
9.03
|
%
|
6.86
|
%
|
|||
5-Year
|
4.77
|
%
|
4.64
|
%
|
|||
10-Year
|
4.13
|
%
|
5.62
|
%
|
Portfolio Composition3
|
||||
(as a % of total investments)
|
||||
Education and Civic Organizations
|
27.0
|
%
|
||
Health Care
|
15.8
|
%
|
||
Tax Obligation/General
|
14.0
|
%
|
||
Tax Obligation/Limited
|
12.4
|
%
|
||
Water and Sewer
|
9.5
|
%
|
||
U.S. Guaranteed
|
6.9
|
%
|
||
Housing/Single Family
|
6.4
|
%
|
||
Other
|
8.0
|
%
|
Refer to the Glossary of Terms used in this Report for further definition of the terms used within this Fund’s Performance Overview page.
|
|
1
|
Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a combined federal and state income tax rate of 31.6%. When comparing this Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.
|
2
|
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by a national rating agency.
|
3
|
Holdings are subject to change.
|
16
|
Nuveen Investments
|
NFC
|
Nuveen Connecticut
|
|
Performance
|
Dividend Advantage
|
|
OVERVIEW
|
Municipal Fund
|
|
as of November 30, 2011
|
Fund Snapshot
|
||||
Common Share Price
|
$
|
14.90
|
||
Common Share Net Asset Value (NAV)
|
$
|
14.86
|
||
Premium/(Discount) to NAV
|
0.27
|
%
|
||
Market Yield
|
4.87
|
%
|
||
Taxable-Equivalent Yield1
|
7.12
|
%
|
||
Net Assets Applicable to Common Shares ($000)
|
$
|
38,418
|
Leverage
|
||||
Structural Leverage
|
34.76
|
%
|
||
Effective Leverage
|
38.74
|
%
|
Average Annual Total Return
|
|||||||
(Inception 1/26/01)
|
|||||||
On Share Price |
On NAV
|
||||||
6-Month (Cumulative)
|
10.42
|
%
|
5.53
|
%
|
|||
1-Year
|
11.12
|
%
|
7.25
|
%
|
|||
5-Year
|
4.43
|
%
|
4.84
|
%
|
|||
10-Year
|
4.72
|
%
|
6.06
|
%
|
Portfolio Composition3
|
||||
(as a % of total investments)
|
||||
Education and Civic Organizations
|
24.5
|
%
|
||
Health Care
|
20.0
|
%
|
||
Tax Obligation/Limited
|
17.2
|
%
|
||
Tax Obligation/General
|
11.7
|
%
|
||
Water and Sewer
|
10.3
|
%
|
||
Housing/Single Family
|
5.8
|
%
|
||
Other
|
10.5
|
%
|
Refer to the Glossary of Terms used in this Report for further definition of the terms used within this Fund’s Performance Overview page.
|
|
1
|
Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a combined federal and state income tax rate of 31.6%. When comparing this Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.
|
2
|
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by a national rating agency.
|
3
|
Holdings are subject to change.
|
Nuveen Investments
|
17
|
NGK
|
Nuveen Connecticut
|
|
Performance
|
Dividend Advantage
|
|
OVERVIEW
|
Municipal Fund 2
|
|
as of November 30, 2011
|
Fund Snapshot
|
||||
Common Share Price
|
$
|
14.78
|
||
Common Share Net Asset Value (NAV)
|
$
|
14.81
|
||
Premium/(Discount) to NAV
|
-0.20
|
%
|
||
Market Yield
|
5.07
|
%
|
||
Taxable-Equivalent Yield1
|
7.41
|
%
|
||
Net Assets Applicable to Common Shares ($000)
|
$
|
34,367
|
Leverage
|
||||
Structural Leverage
|
33.03
|
%
|
||
Effective Leverage
|
37.26
|
%
|
Average Annual Total Return
|
|||||||
(Inception 3/25/02)
|
|||||||
On Share Price |
On NAV
|
||||||
6-Month (Cumulative)
|
8.73
|
%
|
5.34
|
%
|
|||
1-Year
|
6.36
|
%
|
6.11
|
%
|
|||
5-Year
|
4.41
|
%
|
4.73
|
%
|
|||
Since Inception
|
5.50
|
%
|
6.05
|
%
|
Portfolio Composition3
|
||||
(as a % of total investments)
|
||||
Education and Civic Organizations
|
24.3
|
%
|
||
Health Care
|
19.8
|
%
|
||
U.S. Guaranteed
|
11.4
|
%
|
||
Tax Obligation/Limited
|
10.7
|
%
|
||
Water and Sewer
|
8.6
|
%
|
||
Tax Obligation/General
|
7.6
|
%
|
||
Housing/Single Family
|
5.4
|
%
|
||
Other
|
12.2
|
%
|
Refer to the Glossary of Terms used in this Report for further definition of the terms used within this Fund’s Performance Overview page.
|
|
1
|
Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a combined federal and state income tax rate of 31.6%. When comparing this Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.
|
2
|
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by a national rating agency.
|
3
|
Holdings are subject to change.
|
18
|
Nuveen Investments
|
NGO
|
Nuveen Connecticut
|
|
Performance
|
Dividend Advantage
|
|
OVERVIEW
|
Municipal Fund 3
|
|
as of November 30, 2011
|
Fund Snapshot
|
||||
Common Share Price
|
$
|
13.57
|
||
Common Share Net Asset Value (NAV)
|
$
|
14.44
|
||
Premium/(Discount) to NAV
|
-6.02
|
%
|
||
Market Yield
|
5.08
|
%
|
||
Taxable-Equivalent Yield1
|
7.43
|
%
|
||
Net Assets Applicable to Common Shares ($000)
|
$
|
63,072
|
Leverage
|
||||
Structural Leverage
|
33.66
|
%
|
||
Effective Leverage
|
37.46
|
%
|
Average Annual Total Return
|
|||||||
(Inception 9/26/02)
|
|||||||
On Share Price |
On NAV
|
||||||
6-Month (Cumulative)
|
8.10
|
%
|
5.17
|
%
|
|||
1-Year
|
4.98
|
%
|
6.97
|
%
|
|||
5-Year
|
4.30
|
%
|
4.42
|
%
|
|||
Since Inception
|
3.98
|
%
|
5.06
|
%
|
Portfolio Composition3
|
||||
(as a % of total investments)
|
||||
Education and Civic Organizations
|
20.5
|
%
|
||
Health Care
|
17.7
|
%
|
||
Tax Obligation/Limited
|
11.7
|
%
|
||
Water and Sewer
|
11.6
|
%
|
||
U.S. Guaranteed
|
11.3
|
%
|
||
Tax Obligation/General
|
8.4
|
%
|
||
Long-Term Care
|
6.1
|
%
|
||
Housing/Single Family
|
5.1
|
%
|
||
Other
|
7.6
|
%
|
Refer to the Glossary of Terms used in this Report for further definition of the terms used within this Fund’s Performance Overview page.
|
|
1
|
Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a combined federal and state income tax rate of 31.6%. When comparing this Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.
|
2
|
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by a national rating agency.
|
3
|
Holdings are subject to change.
|
Nuveen Investments
|
19
|
NMT
|
Nuveen Massachusetts
|
|
Performance
|
Premium Income
|
|
OVERVIEW
|
Municipal Fund
|
|
as of November 30, 2011
|
Fund Snapshot
|
||||
Common Share Price
|
$
|
13.78
|
||
Common Share Net Asset Value (NAV)
|
$
|
14.64
|
||
Premium/(Discount) to NAV
|
-5.87
|
%
|
||
Market Yield
|
5.66
|
%
|
||
Taxable-Equivalent Yield1
|
8.30
|
%
|
||
Net Assets Applicable to Common Shares ($000)
|
$
|
69,905
|
Leverage
|
||||
Structural Leverage
|
34.39
|
%
|
||
Effective Leverage
|
36.45
|
%
|
Average Annual Total Return
|
|||||||
(Inception 3/18/93)
|
|||||||
On Share Price |
On NAV
|
||||||
6-Month (Cumulative)
|
4.31
|
%
|
6.19
|
%
|
|||
1-Year
|
2.15
|
%
|
8.61
|
%
|
|||
5-Year
|
4.35
|
%
|
4.82
|
%
|
|||
10-Year
|
4.01
|
%
|
5.68
|
%
|
Portfolio Composition4
|
||||
(as a % of total investments)
|
||||
Education and Civic Organizations
|
22.5
|
%
|
||
Health Care
|
16.7
|
%
|
||
Tax Obligation/General
|
14.0
|
%
|
||
U.S. Guaranteed
|
9.5
|
%
|
||
Transportation
|
7.6
|
%
|
||
Tax Obligation/Limited
|
7.6
|
%
|
||
Water and Sewer
|
7.2
|
%
|
||
Other
|
14.9
|
%
|
Refer to the Glossary of Terms used in this Report for further definition of the terms used within this Fund’s Performance Overview page.
|
|
1
|
Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a combined federal and state income tax rate of 31.8%. When comparing this Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.
|
2
|
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by a national rating agency.
|
3
|
The Fund paid shareholders capital gains distributions in December 2010 of $0.0376 per share.
|
4
|
Holdings are subject to change.
|
20
|
Nuveen Investments
|
NMB
|
Nuveen Massachusetts
|
|
Performance
|
Dividend Advantage
|
|
OVERVIEW
|
Municipal Fund
|
|
as of November 30, 2011
|
Fund Snapshot
|
||||
Common Share Price
|
$
|
13.55
|
||
Common Share Net Asset Value (NAV)
|
$
|
14.36
|
||
Premium/(Discount) to NAV
|
-5.64
|
%
|
||
Market Yield
|
5.76
|
%
|
||
Taxable-Equivalent Yield1
|
8.45
|
%
|
||
Net Assets Applicable to Common Shares ($000)
|
$
|
28,223
|
Leverage
|
||||
Structural Leverage
|
34.29
|
%
|
||
Effective Leverage
|
36.62
|
%
|
Average Annual Total Return
|
|||||||
(Inception 1/30/01)
|
|||||||
On Share Price |
On NAV
|
||||||
6-Month (Cumulative)
|
3.17
|
%
|
5.71
|
%
|
|||
1-Year
|
2.07
|
%
|
8.12
|
%
|
|||
5-Year
|
2.51
|
%
|
4.18
|
%
|
|||
10-Year
|
4.45
|
%
|
6.01
|
%
|
Portfolio Composition3
|
||||
(as a % of total investments)
|
||||
Education and Civic Organizations
|
30.8
|
%
|
||
Health Care
|
20.7
|
%
|
||
Tax Obligation/General
|
10.3
|
%
|
||
Tax Obligation/Limited
|
7.1
|
%
|
||
Long-Term Care
|
5.8
|
%
|
||
Water and Sewer
|
5.6
|
%
|
||
Housing/Multifamily
|
5.0
|
%
|
||
Other
|
14.7
|
%
|
Refer to the Glossary of Terms used in this Report for further definition of the terms used within this Fund’s Performance Overview page.
|
|
1
|
Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a combined federal and state income tax rate of 31.8%. When comparing this Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.
|
2
|
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by a national rating agency.
|
3
|
Holdings are subject to change.
|
Nuveen Investments
|
21
|
NGX
|
Nuveen Insured
|
|
Performance
|
Massachusetts Tax-Free
|
|
OVERVIEW
|
Advantage Municipal Fund
|
|
as of November 30, 2011
|
Fund Snapshot
|
||||
Common Share Price
|
$
|
13.61
|
||
Common Share Net Asset Value (NAV)
|
$
|
14.55
|
||
Premium/(Discount) to NAV
|
-6.46
|
%
|
||
Market Yield
|
5.25
|
%
|
||
Taxable-Equivalent Yield3
|
7.70
|
%
|
||
Net Assets Applicable to Common Shares ($000)
|
$
|
39,679
|
Leverage
|
||||
Structural Leverage
|
35.75
|
%
|
||
Effective Leverage
|
36.10
|
%
|
Average Annual Total Return
|
|||||||
(Inception 11/21/02)
|
|||||||
On Share Price |
On NAV
|
||||||
6-Month (Cumulative)
|
2.64
|
%
|
3.91
|
%
|
|||
1-Year
|
0.90
|
%
|
6.18
|
%
|
|||
5-Year
|
4.86
|
%
|
4.44
|
%
|
|||
Since Inception
|
4.01
|
%
|
5.37
|
%
|
Portfolio Composition5
|
||||
(as a % of total investments)
|
||||
U.S. Guaranteed
|
27.5
|
%
|
||
Education and Civic Organizations
|
18.2
|
%
|
||
Water and Sewer
|
12.5
|
%
|
||
Tax Obligation/General
|
8.4
|
%
|
||
Housing/Multifamily
|
7.5
|
%
|
||
Health Care
|
7.2
|
%
|
||
Tax Obligation/Limited
|
6.9
|
%
|
||
Other
|
11.8
|
%
|
Insurers5
|
||||
(as a % of total Insured investments)
|
||||
NPFG4
|
31.2
|
%
|
||
AMBAC
|
21.4
|
%
|
||
FGIC
|
18.4
|
%
|
||
AGM
|
13.5
|
%
|
||
AGC
|
9.6
|
%
|
||
SYNCORA GTY
|
5.9
|
%
|
Refer to the Glossary of Terms used in this Report for further definition of the terms used within this Fund’s Performance Overview page.
|
|
1
|
The Fund intends to invest at least 80% of its managed assets in municipal securities that are covered by insurance guaranteeing the timely payment of principal and interest. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Insurance, for more information. At the end of the reporting period, 83% of the Fund’s total investments are invested in Insured Securities.
|
2
|
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by a national rating agency.
|
3
|
Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a combined federal and state income tax rate of 31.8%. When comparing this Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.
|
4
|
MBIA’s public finance subsidiary.
|
5
|
Holdings are subject to change.
|
22
|
Nuveen Investments
|
NOM
|
Nuveen Missouri
|
|
Performance
|
Premium Income
|
|
OVERVIEW
|
Municipal Fund
|
|
as of November 30, 2011
|
Fund Snapshot
|
||||
Common Share Price
|
$
|
15.90
|
||
Common Share Net Asset Value (NAV)
|
$
|
13.74
|
||
Premium/(Discount) to NAV
|
15.72
|
%
|
||
Market Yield
|
4.91
|
%
|
||
Taxable-Equivalent Yield1
|
7.25
|
%
|
||
Net Assets Applicable to Common Shares ($000)
|
$
|
31,905
|
Leverage
|
||||
Structural Leverage
|
35.91
|
%
|
||
Effective Leverage
|
38.66
|
%
|
Average Annual Total Return
|
|||||||
(Inception 5/20/93)
|
|||||||
On Share Price |
On NAV
|
||||||
6-Month (Cumulative)
|
17.70
|
%
|
7.18
|
%
|
|||
1-Year
|
4.94
|
%
|
9.48
|
%
|
|||
5-Year
|
4.09
|
%
|
4.12
|
%
|
|||
10-Year
|
5.77
|
%
|
5.37
|
%
|
Portfolio Composition3
|
||||
(as a % of total investments)
|
||||
Health Care
|
20.7
|
%
|
||
Tax Obligation/Limited
|
17.9
|
%
|
||
Tax Obligation/General
|
12.9
|
%
|
||
Transportation
|
10.3
|
%
|
||
U.S. Guaranteed
|
8.7
|
%
|
||
Water and Sewer
|
7.9
|
%
|
||
Long-Term Care
|
6.4
|
%
|
||
Education and Civic Organizations
|
5.6
|
%
|
||
Other
|
9.6
|
%
|
Refer to the Glossary of Terms used in this Report for further definition of the terms used within this Fund’s Performance Overview page.
|
|
1
|
Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a combined federal and state income tax rate of 32.3%. When comparing this Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.
|
2
|
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by a national rating agency.
|
3
|
Holdings are subject to change.
|
Nuveen Investments
|
23
|
NMT
|
Shareholder Meeting Report
|
|
NMB
|
||
NOM
|
The annual meeting of shareholders was held in the offices of Nuveen Investments on November 15, 2011; at this meeting the shareholders were asked to vote on the election of Board Members, the elimination of Fundamental Investment Policies and the approval of new Fundamental Investment Policies. The meeting for NMT, NMB and NOM was subsequently adjourned to December 16, 2011. NMT and NOM were additionally adjourned to January 31, 2012.
|
NMT
|
NMB
|
NOM
|
||||||||
Common and
|
|
Common and
|
Common and
|
|||||||
Preferred
|
Preferred
|
Preferred
|
Preferred
|
Preferred
|
Preferred
|
|||||
shares voting
|
shares voting
|
shares voting
|
shares voting
|
shares voting
|
shares voting
|
|||||
together
|
together
|
together
|
together
|
together
|
together
|
|||||
as a class
|
as a class
|
as a class
|
as a class
|
as a class
|
as a class
|
|||||
To approve the new fundamental policy regarding the ability to make loans by each Affected Municipal Fund in order to update and conform such Funds’ policies with other Nuveen closed-end municipal funds.
|
||||||||||
For
|
2,355,923
|
699,872
|
1,158,346
|
498,138
|
1,305,831
|
401,868
|
||||
Against
|
169,691
|
93,459
|
36,825
|
10,394
|
101,031
|
29,738
|
||||
Abstain
|
105,983
|
29,523
|
47,866
|
2,500
|
30,520
|
5,500
|
||||
Broker Non-Votes
|
3,286,788
|
1,519,896
|
1,291,089
|
445,368
|
1,223,068
|
651,364
|
||||
Total
|
5,918,385
|
2,342,750
|
2,534,126
|
956,400
|
2,660,450
|
1,088,470
|
||||
To approve the new fundamental policy relating to municipal securities and below investment grade securities, derivatives and short sales and other investment companies.
|
||||||||||
For
|
2,354,057
|
699,872
|
1,152,206
|
498,138
|
1,291,946
|
392,068
|
||||
Against
|
168,893
|
93,459
|
40,965
|
10,394
|
106,423
|
29,738
|
||||
Abstain
|
108,647
|
29,523
|
49,866
|
2,500
|
39,013
|
15,300
|
||||
Broker Non-Votes
|
3,286,788
|
1,519,896
|
1,291,089
|
445,368
|
1,223,068
|
651,364
|
||||
Total
|
5,918,385
|
2,342,750
|
2,534,126
|
956,400
|
2,660,450
|
1,088,470
|
||||
Approval of the Board Members was reached as follows:
|
||||||||||
John P. Amboian
|
||||||||||
For
|
5,779,227
|
—
|
2,503,044
|
—
|
2,583,014
|
—
|
||||
Withhold
|
139,158
|
—
|
31,082
|
—
|
77,437
|
—
|
||||
Total
|
5,918,385
|
—
|
2,534,126
|
—
|
2,660,451
|
—
|
||||
David J. Kundert
|
||||||||||
For
|
5,772,727
|
—
|
2,503,044
|
—
|
2,570,974
|
—
|
||||
Withhold
|
145,658
|
—
|
31,082
|
—
|
89,477
|
—
|
||||
Total
|
5,918,385
|
—
|
2,534,126
|
—
|
2,660,451
|
—
|
||||
Terence J. Toth
|
||||||||||
For
|
5,777,727
|
—
|
2,503,044
|
—
|
2,583,014
|
—
|
||||
Withhold
|
140,658
|
—
|
31,082
|
—
|
77,437
|
—
|
||||
Total
|
5,918,385
|
—
|
2,534,126
|
—
|
2,660,451
|
—
|
||||
William C. Hunter
|
||||||||||
For
|
—
|
2,284,800
|
—
|
951,200
|
—
|
1,070,832
|
||||
Withhold
|
—
|
57,950
|
—
|
5,200
|
—
|
17,638
|
||||
Total
|
—
|
2,342,750
|
—
|
956,400
|
—
|
1,088,470
|
||||
William J. Schneider
|
||||||||||
For
|
—
|
2,279,800
|
—
|
951,200
|
—
|
1,070,832
|
||||
Withhold
|
—
|
62,950
|
—
|
5,200
|
—
|
17,638
|
||||
Total
|
—
|
2,342,750
|
—
|
956,400
|
—
|
1,088,470
|
24
|
Nuveen Investments
|
Nuveen Connecticut Premium Income Municipal Fund
|
||
NTC
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited)
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Consumer Staples – 1.5% (1.0% of Total Investments)
|
|||||||||
$
|
1,275
|
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, Series 2002, 5.375%, 5/15/33
|
5/12 at 100.00
|
BBB
|
$
|
1,193,349
|
|||
Education and Civic Organizations – 41.6% (27.0% of Total Investments)
|
|||||||||
575
|
Connecticut Health and Education Facilities Authority, Revenue Bonds, Connecticut College, Series 2011H, 5.000%, 7/01/41
|
7/21 at 100.00
|
A2
|
598,753
|
|||||
925
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Brunswick School, Series 2003B, 5.000%, 7/01/33 – NPFG Insured
|
7/13 at 100.00
|
Baa1
|
932,742
|
|||||
500
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Canterbury School, Series 2006B, 5.000%, 7/01/36 – RAAI Insured
|
7/16 at 100.00
|
N/R
|
465,225
|
|||||
305
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Chase Collegiate School, Series 2007A, 5.000%, 7/01/27 – RAAI Insured
|
7/17 at 100.00
|
N/R
|
299,803
|
|||||
1,000
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2010-O, 5.000%, 7/01/40
|
7/20 at 100.00
|
A–
|
1,035,610
|
|||||
750
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Horace Bushnell Memorial Hall, Series 1999A, 5.625%, 7/01/29 – NPFG Insured
|
1/12 at 100.00
|
Baa1
|
750,353
|
|||||
800
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Loomis Chaffee School, Series 2005F, 5.250%, 7/01/19 – AMBAC Insured
|
No Opt. Call
|
A2
|
951,816
|
|||||
1,000
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Series 2006H, 5.000%, 7/01/36 – AMBAC Insured
|
7/16 at 100.00
|
A–
|
1,018,190
|
|||||
1,595
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Series 2007-I, 5.000%, 7/01/25 – NPFG Insured
|
7/17 at 100.00
|
A–
|
1,685,947
|
|||||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Renbrook School, Series 2007A:
|
|||||||||
170
|
5.000%, 7/01/30 – AMBAC Insured
|
7/17 at 100.00
|
N/R
|
172,683
|
|||||
270
|
5.000%, 7/01/37 – AMBAC Insured
|
7/17 at 100.00
|
N/R
|
266,722
|
|||||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2011G:
|
|||||||||
250
|
5.125%, 7/01/26
|
7/21 at 100.00
|
BBB
|
254,923
|
|||||
1,000
|
5.625%, 7/01/41
|
7/21 at 100.00
|
BBB
|
1,040,520
|
|||||
560
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, The Loomis Chaffee School Issue, Series 2011-I, 5.000%, 7/01/23 – AGM Insured
|
7/21 at 100.00
|
Aa3
|
621,869
|
|||||
1,375
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity College, Series 2004H, 5.000%, 7/01/21 – NPFG Insured
|
7/14 at 100.00
|
A+
|
1,490,761
|
|||||
2,000
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, University of Hartford, Series 2002E, 5.250%, 7/01/32 – RAAI Insured
|
7/12 at 101.00
|
BBB–
|
1,948,350
|
|||||
1,050
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, University of Hartford, Series 2006G, 5.250%, 7/01/36 – RAAI Insured
|
7/16 at 100.00
|
BBB–
|
991,841
|
|||||
800
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Wesleyan University, Series 2010G, 5.000%, 7/01/35
|
7/20 at 100.00
|
AA
|
850,744
|
|||||
1,500
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2003X-1, 5.000%, 7/01/42 (UB)
|
7/13 at 100.00
|
AAA
|
1,538,625
|
|||||
3,550
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2007Z-1, 5.000%, 7/01/42 (UB)
|
7/16 at 100.00
|
AAA
|
3,731,441
|
|||||
6,150
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2007Z-3, 5.050%, 7/01/42 (UB) (4)
|
7/17 at 100.00
|
AAA
|
6,595,814
|
|||||
245
|
Connecticut Higher Education Supplemental Loan Authority, Revenue Bonds, Family Education Loan Program, Series 1999A, 6.000%, 11/15/18 – AMBAC Insured(Alternative Minimum Tax)
|
5/12 at 100.00
|
AAA
|
245,515
|
|||||
1,000
|
University of Connecticut, General Obligation Bonds, Series 2004A, 5.000%, 1/15/18 – NPFG Insured
|
1/14 at 100.00
|
AA
|
1,068,830
|
|||||
1,220
|
University of Connecticut, General Obligation Bonds, Series 2005A, 5.000%, 2/15/17 – AGM Insured
|
2/15 at 100.00
|
AA
|
1,367,962
|
Nuveen Investments
|
|
25 |
Nuveen Connecticut Premium Income Municipal Fund (continued)
|
||
NTC
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited) |
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Education and Civic Organizations (continued)
|
|||||||||
$
|
685
|
University of Connecticut, General Obligation Bonds, Series 2006A, 5.000%, 2/15/23 – FGIC Insured
|
2/16 at 100.00
|
AA
|
$
|
747,136
|
|||
535
|
University of Connecticut, General Obligation Bonds, Series 2010A, 5.000%, 2/15/28
|
2/20 at 100.00
|
AA
|
593,609
|
|||||
225
|
University of Connecticut, Student Fee Revenue Bonds, Refunding Series 2010A, 5.000%, 11/15/27
|
11/19 at 100.00
|
Aa2
|
250,328
|
|||||
1,000
|
University of Connecticut, Student Fee Revenue Refunding Bonds, Series 2002A, 5.250%, 11/15/19 – FGIC Insured
|
11/12 at 101.00
|
Aa2
|
1,052,050
|
|||||
31,035
|
Total Education and Civic Organizations
|
32,568,162
|
|||||||
Health Care – 24.3% (15.8% of Total Investments)
|
|||||||||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Bristol Hospital, Series 2002B:
|
|||||||||
500
|
5.500%, 7/01/21 – RAAI Insured
|
7/12 at 101.00
|
N/R
|
495,935
|
|||||
700
|
5.500%, 7/01/32 – RAAI Insured
|
7/12 at 101.00
|
N/R
|
658,896
|
|||||
645
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Eastern Connecticut Health Network, Series 2000A, 6.000%, 7/01/25 – RAAI Insured
|
1/12 at 100.00
|
N/R
|
645,174
|
|||||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Griffin Hospital, Series 2005B:
|
|||||||||
800
|
5.000%, 7/01/20 – RAAI Insured
|
7/15 at 100.00
|
N/R
|
809,120
|
|||||
500
|
5.000%, 7/01/23 – RAAI Insured
|
7/15 at 100.00
|
N/R
|
493,495
|
|||||
1,800
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hartford Healthcare, Series 2011A, 5.000%, 7/01/41
|
7/21 at 100.00
|
A
|
1,801,962
|
|||||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hospital For Special Care, Series 2007C:
|
|||||||||
385
|
5.250%, 7/01/32 – RAAI Insured
|
7/17 at 100.00
|
BBB–
|
364,811
|
|||||
150
|
5.250%, 7/01/37 – RAAI Insured
|
7/17 at 100.00
|
BBB–
|
138,033
|
|||||
550
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Lawrence and Memorial Hospitals, Series 2011F, 5.000%, 7/01/36
|
7/21 at 100.00
|
A+
|
556,034
|
|||||
2,620
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Middlesex Hospital, Series 2006, 5.000%, 7/01/32 – AGM Insured
|
7/16 at 100.00
|
Aa3
|
2,656,837
|
|||||
605
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Middlesex Hospital, Series 2011N, 5.000%, 7/01/25
|
7/21 at 100.00
|
A2
|
630,235
|
|||||
400
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, Series 2010-I, 5.000%, 7/01/30
|
7/20 at 10.00
|
A
|
407,956
|
|||||
1,250
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Western Connecticut Health, Series 2011M, 5.375%, 7/01/41
|
7/21 at 100.00
|
A
|
1,298,325
|
|||||
1,250
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Western Connecticut Health, Series 2011N, 5.000%, 7/01/29
|
7/21 at 100.00
|
A
|
1,272,338
|
|||||
1,395
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Hospital, Series 2006J-1, 5.000%, 7/01/31 – AMBAC Insured
|
7/16 at 100.00
|
Aa3
|
1,444,885
|
|||||
425
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Hospital, Series 2010M, 5.500%, 7/01/40
|
7/20 at 100.00
|
Aa3
|
453,883
|
|||||
1,240
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Ascension Health Series 2010A, 5.000%, 11/15/40
|
11/19 at 100.00
|
AA+
|
1,278,130
|
|||||
350
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Catholic Health East Series 2010, 4.750%, 11/15/29
|
11/20 at 100.00
|
A
|
357,291
|
|||||
3,050
|
Monroe County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue Bonds, Unity Hospital of Rochester Project, Series 2010, 5.500%, 8/15/40
|
2/21 at 100.00
|
Aa2
|
3,295,556
|
|||||
18,615
|
Total Health Care
|
19,058,896
|
|||||||
Housing/Multifamily – 1.2% (0.8% of Total Investments)
|
|||||||||
960
|
Connecticut Housing Finance Authority, Multifamily Housing Mortgage Finance Program Bonds, Series 2006G-2, 4.800%, 11/15/27 (Alternative Minimum Tax)
|
11/15 at 100.00
|
AAA
|
961,517
|
|||||
Housing/Single Family – 9.9% (6.4% of Total Investments)
|
|||||||||
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2001C:
|
|||||||||
1,000
|
5.300%, 11/15/33 (Alternative Minimum Tax)
|
5/12 at 100.00
|
AAA
|
1,000,220
|
|||||
500
|
5.450%, 11/15/43 (Alternative Minimum Tax)
|
5/12 at 100.00
|
AAA
|
500,085
|
26 |
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Housing/Single Family (continued)
|
|||||||||
$
|
1,675
|
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2004-A5, 5.050%, 11/15/34
|
5/13 at 100.00
|
AAA
|
$
|
1,692,403
|
|||
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2006-A1:
|
|||||||||
205
|
4.700%, 11/15/26 (Alternative Minimum Tax)
|
11/15 at 100.00
|
AAA
|
205,252
|
|||||
220
|
4.800%, 11/15/31 (Alternative Minimum Tax)
|
11/15 at 100.00
|
AAA
|
217,906
|
|||||
2,045
|
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2006D, 4.650%, 11/15/27
|
5/16 at 100.00
|
AAA
|
2,078,538
|
|||||
2,000
|
Connecticut Housing Finance Authority, Single Family Housing Mortgage Finance Program Bonds, Series 2010-A2, 4.500%, 11/15/30
|
11/19 at 100.00
|
AAA
|
2,033,420
|
|||||
7,645
|
Total Housing/Single Family
|
7,727,824
|
|||||||
Long-Term Care – 2.9% (1.9% of Total Investments)
|
|||||||||
165
|
Connecticut Development Authority, First Mortgage Gross Revenue Refunding Healthcare Bonds, Church Homes Inc. – Congregational Avery Heights, Series 1997, 5.700%, 4/01/12
|
No Opt. Call
|
BBB–
|
165,330
|
|||||
445
|
Connecticut Development Authority, First Mortgage Gross Revenue Refunding Healthcare Bonds, Connecticut Baptist Homes Inc., Series 1999, 5.500%, 9/01/15 – RAAI Insured
|
3/12 at 100.00
|
BBB–
|
445,583
|
|||||
1,600
|
Connecticut Housing Finance Authority, State Supported Special Obligation Bonds, Refunding Series 2010-16, 5.000%, 6/15/30
|
6/20 at 100.00
|
AA
|
1,691,040
|
|||||
2,210
|
Total Long-Term Care
|
2,301,953
|
|||||||
Tax Obligation/General – 21.6% (14.0% of Total Investments)
|
|||||||||
750
|
Bridgeport, Connecticut, General Obligation Refunding Bonds, Series 2002A, 5.375%, 8/15/19 – FGIC Insured
|
8/12 at 100.00
|
A1
|
765,585
|
|||||
1,110
|
Connecticut State, General Obligation Bonds, Series 2004C, 5.000%, 4/01/23 – FGIC Insured
|
4/14 at 100.00
|
AA
|
1,195,781
|
|||||
2,000
|
Connecticut State, General Obligation Bonds, Series 2006A, 4.750%, 12/15/24
|
12/16 at 100.00
|
AA
|
2,202,920
|
|||||
1,300
|
Connecticut State, General Obligation Bonds, Series 2006C, 5.000%, 6/01/23 – AGM Insured
|
6/16 at 100.00
|
AA
|
1,433,861
|
|||||
500
|
Connecticut State, General Obligation Bonds, Series 2006E, 5.000%, 12/15/20
|
12/16 at 10.00
|
AA
|
579,920
|
|||||
Hartford, Connecticut, General Obligation Bonds, Series 2005A:
|
|||||||||
775
|
5.000%, 8/01/20 – AGM Insured
|
8/15 at 100.00
|
AA–
|
858,034
|
|||||
525
|
4.375%, 8/01/24 – AGM Insured
|
8/15 at 100.00
|
AA–
|
543,601
|
|||||
700
|
Hartford, Connecticut, General Obligation Bonds, Series 2009A, 5.000%, 8/15/28 – AGC Insured
|
8/19 at 100.00
|
AA–
|
760,753
|
|||||
500
|
New Haven, Connecticut, General Obligation Bonds, Series 2006, 5.000%,
|
11/16 at 100.00
|
A1
|
569,335
|
|||||
11/01/17 – AMBAC Insured | |||||||||
500
|
North Haven, Connecticut, General Obligation Bonds, Series 2006, 5.000%, 7/15/24
|
No Opt. Call
|
Aa1
|
618,635
|
|||||
1,380
|
Oregon State, General Obligation Bonds, Oregon University System Projects, Series 2011G, 5.000%, 8/01/36
|
8/21 at 100.00
|
AA+
|
1,492,567
|
|||||
1,860
|
Puerto Rico, General Obligation and Public Improvement Bonds, Series 2002A, 5.500%, 7/01/20 – NPFG Insured
|
No Opt. Call
|
Baa1
|
2,022,936
|
|||||
1,420
|
Regional School District 16, Connecticut, General Obligation Bonds, Series 2003, 5.000%, 3/15/16 – AMBAC Insured
|
3/13 at 101.00
|
A1
|
1,496,510
|
|||||
Suffield, Connecticut, General Obligation Bonds, Series 2005:
|
|||||||||
465
|
5.000%, 6/15/17
|
No Opt. Call
|
AA+
|
557,033
|
|||||
460
|
5.000%, 6/15/19
|
No Opt. Call
|
AA+
|
565,667
|
|||||
1,000
|
5.000%, 6/15/21
|
No Opt. Call
|
AA+
|
1,239,790
|
|||||
15,245
|
Total Tax Obligation/General
|
16,902,928
|
|||||||
Tax Obligation/Limited – 19.2% (12.4% of Total Investments)
|
|||||||||
Connecticut Health and Educational Facilities Authority, Child Care Facilities Program Revenue Bonds, Series 2006F:
|
|||||||||
1,300
|
5.000%, 7/01/31 – AGC Insured
|
7/16 at 100.00
|
AA–
|
1,343,199
|
|||||
1,000
|
5.000%, 7/01/36 – AGC Insured
|
7/16 at 100.00
|
AA–
|
1,022,760
|
|||||
500
|
Connecticut, Special Tax Obligation Transportation Infrastructure Purpose Bonds, Series 2003B, 5.000%, 1/01/23 – FGIC Insured
|
1/14 at 100.00
|
AA
|
533,725
|
|||||
1,750
|
Connecticut, Special Tax Obligation Transportation Infrastructure Purpose Revenue Bonds, Series 2007A, 5.000%, 8/01/27 – AMBAC Insured
|
8/17 at 100.00
|
AA
|
1,903,073
|
Nuveen Investments
|
27
|
Nuveen Connecticut Premium Income Municipal Fund (continued)
|
||
NTC
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited) |
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Tax Obligation/Limited (continued)
|
|||||||||
$
|
1,100
|
Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Harbor Point Project, Series 2010A, 7.875%, 4/01/39
|
4/20 at 100.00
|
N/R
|
$
|
1,160,060
|
|||
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A:
|
|||||||||
960
|
0.000%, 7/01/32 – FGIC Insured
|
No Opt. Call
|
BBB+
|
245,357
|
|||||
2,615
|
0.000%, 7/01/33 – FGIC Insured
|
No Opt. Call
|
BBB+
|
616,016
|
|||||
2,000
|
Puerto Rico Municipal Finance Agency, Series 2002A, 5.250%, 8/01/21 – AGM Insured
|
8/12 at 100.00
|
AA–
|
2,016,460
|
|||||
2,400
|
Puerto Rico Municipal Finance Agency, Series 2005C, 5.000%, 8/01/16 – AGM Insured
|
8/15 at 100.00
|
AA–
|
2,613,888
|
|||||
975
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010A, 5.375%, 8/01/39
|
2/20 at 100.00
|
A+
|
1,005,469
|
|||||
600
|
Stamford, Connecticut, Special Obligation Revenue Bonds, Mill River Corridor Project, Series 2011aA, 7.000%, 4/01/41
|
4/21 at 100.00
|
N/R
|
600,732
|
|||||
1,000
|
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Series 2003, 5.250%, 10/01/19 – AGM Insured
|
10/14 at 100.00
|
AA–
|
1,067,210
|
|||||
895
|
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Senior Lien Series 2010A, 5.000%, 10/01/29
|
10/20 at 100.00
|
BBB
|
890,239
|
|||||
17,095
|
Total Tax Obligation/Limited
|
15,018,188
|
|||||||
U.S. Guaranteed – 10.7% (6.9% of Total Investments) (5)
|
|||||||||
610
|
Connecticut Higher Education Supplemental Loan Authority, Revenue Bonds, Family Education Loan Program, Series 2001A, 5.250%, 11/15/18 (Pre-refunded 5/15/12) – NPFG Insured (Alternative Minimum Tax)
|
5/12 at 100.00
|
Aa2 (5)
|
610,921
|
|||||
40
|
Connecticut, General Obligation Bonds, Series 1993E, 6.000%, 3/15/12 (ETM)
|
No Opt. Call
|
Aa2 (5)
|
40,679
|
|||||
1,500
|
Connecticut, General Obligation Bonds, Series 2002B, 5.500%, 6/15/21 (Pre-refunded 6/15/12)
|
6/12 at 100.00
|
AA (5)
|
1,543,020
|
|||||
Connecticut, Special Tax Obligation Transportation Infrastructure Purpose Bonds, Series 2002B:
|
|||||||||
1,175
|
5.000%, 12/01/20 (Pre-refunded 12/01/12) – AMBAC Insured
|
12/12 at 100.00
|
AA (5)
|
1,230,589
|
|||||
1,000
|
5.000%, 12/01/21 (Pre-refunded 12/01/12) – AMBAC Insured
|
12/12 at 100.00
|
AA (5)
|
1,047,310
|
|||||
1,100
|
University of Connecticut, General Obligation Bonds, Series 2003A, 5.125%, 2/15/21 (Pre-refunded 2/15/13) – NPFG Insured
|
2/13 at 100.00
|
AA (5)
|
1,163,965
|
|||||
1,000
|
Waterbury, Connecticut, General Obligation Special Capital Reserve Fund Bonds, Series 2002A, 5.375%, 4/01/17 (Pre-refunded 4/01/12) – AGM Insured
|
4/12 at 100.00
|
AA (5)
|
1,017,320
|
|||||
1,500
|
West Hartford, Connecticut, General Obligation Bonds, Series 2005B, 5.000%, 10/01/18 (Pre-refunded 10/01/15)
|
10/15 at 100.00
|
AAA
|
1,726,770
|
|||||
7,925
|
Total U.S. Guaranteed
|
8,380,574
|
|||||||
Utilities – 6.6% (4.3% of Total Investments)
|
|||||||||
650
|
Bristol Resource Recovery Facility Operating Committee, Connecticut, Solid Waste Revenue Bonds, Covanta Bristol Inc., Series 2005, 5.000%, 7/01/12 – AMBAC Insured
|
No Opt. Call
|
AA
|
665,945
|
|||||
175
|
Connecticut Development Authority, Pollution Control Revenue Refunding Bonds, Western Massachusetts Electric Company, Series 1993A, 5.850%, 9/01/28
|
10/12 at 100.00
|
BBB+
|
175,614
|
|||||
1,070
|
Connecticut Development Authority, Solid Waste Disposal Facilities Revenue Bonds, PSEG Power LLC Project, Series 2007A, 5.750%, 11/01/37 (Alternative Minimum Tax)
|
11/12 at 100.00
|
Baa1
|
1,071,552
|
|||||
1,750
|
Connecticut Resource Recovery Authority, Revenue Bonds, American Ref-Fuel Company of Southeastern Connecticut LP, Series 1998A-I, 5.500%, 11/15/15 (Alternative Minimum Tax)
|
6/12 at 102.00
|
Ba1
|
1,756,528
|
|||||
Eastern Connecticut Resource Recovery Authority, Solid Waste Revenue Bonds, Wheelabrator Lisbon Project, Series 1993A:
|
|||||||||
205
|
5.500%, 1/01/14 (Alternative Minimum Tax)
|
1/12 at 100.00
|
BBB
|
205,547
|
|||||
1,290
|
5.500%, 1/01/20 (Alternative Minimum Tax)
|
1/12 at 100.00
|
BBB
|
1,293,909
|
|||||
5,140
|
Total Utilities
|
5,169,095
|
|||||||
Water and Sewer – 14.6% (9.5% of Total Investments)
|
|||||||||
500
|
Connecticut Development Authority, Water Facility Revenue Bonds, Aquarion Water Company Project, Series 2007, 5.100%, 9/01/37 – SYNCORA GTY Insured (Alternative Minimum Tax)
|
9/17 at 100.00
|
N/R
|
443,405
|
|||||
1,185
|
Connecticut, State Revolving Fund General Revenue Bonds, Series 2003A, 5.000%, 10/01/16
|
10/13 at 100.00
|
AAA
|
1,277,442
|
28
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Water and Sewer (continued)
|
|||||||||
Greater New Haven Water Pollution Control Authority, Connecticut, Regional Wastewater System Revenue Bonds, Series 2005A:
|
|||||||||
$
|
1,520
|
5.000%, 11/15/30 – NPFG Insured
|
11/15 at 100.00
|
A1
|
$
|
1,568,655
|
|||
2,260
|
5.000%, 8/15/35 – NPFG Insured
|
11/15 at 100.00
|
A1
|
2,308,319
|
|||||
725
|
Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2010, 5.625%, 7/01/40
|
7/20 at 100.00
|
Ba2
|
691,810
|
|||||
1,000
|
Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 6.000%, 7/01/38
|
7/18 at 100.00
|
Baa2
|
1,037,590
|
|||||
South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Eighteenth Series 2003A:
|
|||||||||
1,000
|
5.000%, 8/01/20 – NPFG Insured
|
8/13 at 100.00
|
Aa3
|
1,039,530
|
|||||
1,075
|
5.000%, 8/01/33 – NPFG Insured
|
8/13 at 100.00
|
Aa3
|
1,089,792
|
|||||
770
|
South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Twentieth-Sixth Series, 2011, 5.000%, 8/01/41
|
8/21 at 100.00
|
Aa3
|
811,919
|
|||||
1,100
|
Stamford, Connecticut, Water Pollution Control System and Facility Revenue Bonds, Series 2003A, 5.000%, 11/15/32
|
11/13 at 100.00
|
AA+
|
1,162,645
|
|||||
11,135
|
Total Water and Sewer
|
11,431,107
|
|||||||
$
|
118,280
|
Total Investments (cost $117,450,103) – 154.1%
|
120,713,593
|
||||||
Floating Rate Obligations – (10.2)%
|
(7,965,000
|
) | |||||||
MuniFund Term Preferred Shares, at Liquidation Value – (46.0)% (6)
|
(36,080,000
|
) | |||||||
Other Assets Less Liabilities – 2.1%
|
1,681,199
|
||||||||
Net Assets Applicable to Common Shares – 100%
|
$
|
78,349,792
|
(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)
|
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.
|
|
(5)
|
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.
|
|
(6)
|
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 29.9%.
|
|
N/R
|
Not rated.
|
|
(ETM)
|
Escrowed to maturity.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Inverse Floating Rate Securities for more information.
|
Nuveen Investments
|
|
29 |
Nuveen Connecticut Dividend Advantage Municipal Fund
|
||
NFC
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited)
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Education and Civic Organizations – 39.4% (24.5% of Total Investments)
|
|||||||||
$
|
300
|
Connecticut Health and Education Facilities Authority, Revenue Bonds, Connecticut College, Series 2011H, 5.000%, 7/01/41
|
7/21 at 100.00
|
A2
|
$
|
312,393
|
|||
250
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Canterbury School, Series 2006B, 5.000%, 7/01/36 – RAAI Insured
|
7/16 at 100.00
|
N/R
|
232,613
|
|||||
150
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Chase Collegiate School, Series 2007A, 5.000%, 7/01/27 – RAAI Insured
|
7/17 at 100.00
|
N/R
|
147,444
|
|||||
500
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2010-O, 5.000%, 7/01/40
|
7/20 at 100.00
|
A–
|
517,805
|
|||||
440
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Loomis Chaffee School, Series 2005F, 5.250%, 7/01/18 – AMBAC Insured
|
No Opt. Call
|
A2
|
520,670
|
|||||
795
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Series 2007-I, 5.000%, 7/01/25 – NPFG Insured
|
7/17 at 100.00
|
A–
|
840,331
|
|||||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Renbrook School, Series 2007A:
|
|||||||||
85
|
5.000%, 7/01/30 – AMBAC Insured
|
7/17 at 100.00
|
N/R
|
86,341
|
|||||
130
|
5.000%, 7/01/37 – AMBAC Insured
|
7/17 at 100.00
|
N/R
|
128,422
|
|||||
50
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 1998E, 5.000%, 7/01/28 – RAAI Insured
|
1/12 at 100.00
|
BBB
|
48,410
|
|||||
600
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2011G, 5.625%, 7/01/41
|
7/21 at 100.00
|
BBB
|
624,312
|
|||||
225
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, The Loomis Chaffee School Issue, Series 2011-I, 5.000%, 7/01/24 – AGM Insured
|
7/21 at 100.00
|
Aa3
|
246,517
|
|||||
350
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity College, Series 2004H, 5.000%, 7/01/17 – NPFG Insured
|
7/14 at 100.00
|
A+
|
383,387
|
|||||
1,000
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, University of Hartford, Series 2002E, 5.250%, 7/01/32 – RAAI Insured
|
7/12 at 101.00
|
BBB–
|
974,180
|
|||||
500
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, University of Hartford, Series 2006G, 5.250%, 7/01/36 – RAAI Insured
|
7/16 at 100.00
|
BBB–
|
472,305
|
|||||
1,600
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Wesleyan University, Series 2010G, 5.000%, 7/01/35
|
7/20 at 100.00
|
AA
|
1,701,480
|
|||||
500
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2003X-1, 5.000%, 7/01/42 (UB)
|
7/13 at 100.00
|
AAA
|
512,875
|
|||||
1,800
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2007Z-1, 5.000%, 7/01/42 (UB)
|
7/16 at 100.00
|
AAA
|
1,891,998
|
|||||
3,050
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2007Z-3, 5.050%, 7/01/42 (UB) (4)
|
7/17 at 100.00
|
AAA
|
3,271,095
|
|||||
Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Higher Education Revenue Bonds, Ana G. Mendez University System, Series 1999:
|
|||||||||
115
|
5.375%, 2/01/19
|
2/12 at 100.00
|
BBB–
|
115,039
|
|||||
270
|
5.375%, 2/01/29
|
2/12 at 100.00
|
BBB–
|
252,869
|
|||||
485
|
University of Connecticut, General Obligation Bonds, Series 2006A, 5.000%, 2/15/23 – FGIC Insured
|
2/16 at 100.00
|
AA
|
528,994
|
|||||
1,070
|
University of Connecticut, General Obligation Bonds, Series 2010A, 5.000%, 2/15/28
|
2/20 at 100.00
|
AA
|
1,187,219
|
|||||
115
|
University of Connecticut, Student Fee Revenue Bonds, Refunding Series 2010A, 5.000%, 11/15/27
|
11/19 at 100.00
|
Aa2
|
127,946
|
|||||
14,380
|
Total Education and Civic Organizations
|
15,124,645
|
30 |
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Health Care – 32.2% (20.0% of Total Investments)
|
|||||||||
$
|
1,400
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Bristol Hospital, Series 2002B, 5.500%, 7/01/32 – RAAI Insured
|
7/12 at 101.00
|
N/R
|
$
|
1,317,792
|
|||
840
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Eastern Connecticut Health Network, Series 2005, 5.000%, 7/01/25 – RAAI Insured
|
7/15 at 100.00
|
N/R
|
788,651
|
|||||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Griffin Hospital, Series 2005B:
|
|||||||||
500
|
5.000%, 7/01/20 – RAAI Insured
|
7/15 at 100.00
|
N/R
|
505,700
|
|||||
250
|
5.000%, 7/01/23 – RAAI Insured
|
7/15 at 100.00
|
N/R
|
246,748
|
|||||
525
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hartford Healthcare, Series 2011A, 5.000%, 7/01/41
|
7/21 at 100.00
|
A
|
525,572
|
|||||
200
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hospital For Special Care, Series 2007C, 5.250%, 7/01/32 – RAAI Insured
|
7/17 at 100.00
|
BBB–
|
189,512
|
|||||
400
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Lawrence and Memorial Hospitals, Series 2011F, 5.000%, 7/01/36
|
7/21 at 100.00
|
A+
|
404,388
|
|||||
60
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Middlesex Hospital, Series 2006, 5.000%, 7/01/32 – AGM Insured
|
7/16 at 100.00
|
Aa3
|
60,844
|
|||||
500
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Middlesex Hospital, Series 2011N, 5.000%, 7/01/25
|
7/21 at 100.00
|
A2
|
520,855
|
|||||
240
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, Series 2010-I, 5.000%, 7/01/30
|
7/20 at 10.00
|
A
|
244,774
|
|||||
620
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Western Connecticut Health, Series 2011M, 5.375%, 7/01/41
|
7/21 at 100.00
|
A
|
643,969
|
|||||
1,000
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Western Connecticut Health, Series 2011N, 5.000%, 7/01/29
|
7/21 at 100.00
|
A
|
1,017,870
|
|||||
775
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, William W. Backus Hospital, Series 2005F, 5.125%, 7/01/35 – AGM Insured
|
7/18 at 100.00
|
AA–
|
797,638
|
|||||
1,870
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Hospital, Series 2006J-1, 5.000%, 7/01/31 – AMBAC Insured
|
7/16 at 100.00
|
Aa3
|
1,936,871
|
|||||
225
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Hospital, Series 2010M, 5.500%, 7/01/40
|
7/20 at 100.00
|
Aa3
|
240,291
|
|||||
1,000
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Ascension Health Series 2010A, 5.000%, 11/15/40
|
11/19 at 100.00
|
AA+
|
1,030,750
|
|||||
175
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Catholic Health East Series 2010, 4.750%, 11/15/29
|
11/20 at 100.00
|
A
|
178,645
|
|||||
1,600
|
Monroe County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue Bonds, Unity Hospital of Rochester Project, Series 2010, 5.500%, 8/15/40
|
2/21 at 100.00
|
Aa2
|
1,728,816
|
|||||
12,180
|
Total Health Care
|
12,379,686
|
|||||||
Housing/Multifamily – 1.3% (0.8% of Total Investments)
|
|||||||||
480
|
Connecticut Housing Finance Authority, Multifamily Housing Mortgage Finance Program Bonds, Series 2006G-2, 4.800%, 11/15/27 (Alternative Minimum Tax)
|
11/15 at 100.00
|
AAA
|
480,758
|
|||||
Housing/Single Family – 9.3% (5.8% of Total Investments)
|
|||||||||
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2001C:
|
|||||||||
1,000
|
5.300%, 11/15/33 (Alternative Minimum Tax)
|
5/12 at 100.00
|
AAA
|
1,000,220
|
|||||
250
|
5.450%, 11/15/43 (Alternative Minimum Tax)
|
5/12 at 100.00
|
AAA
|
250,043
|
|||||
800
|
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2004-A5, 5.050%, 11/15/34
|
5/13 at 100.00
|
AAA
|
808,312
|
|||||
685
|
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2006D, 4.650%, 11/15/27
|
5/16 at 100.00
|
AAA
|
696,234
|
|||||
800
|
Connecticut Housing Finance Authority, Single Family Housing Mortgage Finance Program Bonds, Series 2010-A2, 4.750%, 11/15/35
|
11/19 at 100.00
|
AAA
|
811,104
|
|||||
3,535
|
Total Housing/Single Family
|
3,565,913
|
Nuveen Investments
|
|
31 |
Nuveen Connecticut Dividend Advantage Municipal Fund (continued)
|
||
NFC
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited) |
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Long-Term Care – 2.5% (1.5% of Total Investments)
|
|||||||||
$
|
300
|
Connecticut Development Authority, First Mortgage Gross Revenue Healthcare Bonds, Elim Park Baptist Home Inc., Series 2003, 5.750%, 12/01/23
|
12/13 at 100.00
|
BBB
|
$
|
304,695
|
|||
110
|
Connecticut Development Authority, First Mortgage Gross Revenue Refunding Healthcare Bonds, Church Homes Inc. – Congregational Avery Heights, Series 1997, 5.800%, 4/01/21
|
4/12 at 100.00
|
BBB–
|
110,052
|
|||||
195
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Village for Families and Children Inc., Series 2002A, 5.000%, 7/01/32 – AMBAC Insured
|
7/12 at 101.00
|
N/R
|
181,588
|
|||||
250
|
Connecticut State Development Authority, Health Facilities Revenue Bonds, Alzheimer’s Resource Center of Connecticut, Inc., Series 2007, 5.500%, 8/15/27
|
8/17 at 100.00
|
N/R
|
244,580
|
|||||
105
|
Hamden, Connecticut, Facility Revenue Bonds, Whitney Center Project, Series 2009A, 7.625%, 1/01/30
|
1/20 at 100.00
|
N/R
|
110,045
|
|||||
960
|
Total Long-Term Care
|
950,960
|
|||||||
Tax Obligation/General – 18.7% (11.7% of Total Investments)
|
|||||||||
560
|
Connecticut State, General Obligation Bonds, Series 2004C, 5.000%, 4/01/23 – FGIC Insured
|
4/14 at 100.00
|
AA
|
603,277
|
|||||
700
|
Connecticut State, General Obligation Bonds, Series 2006A, 4.750%, 12/15/24
|
12/16 at 100.00
|
AA
|
771,022
|
|||||
100
|
Connecticut State, General Obligation Bonds, Series 2006C, 5.000%, 6/01/23 – AGM Insured
|
6/16 at 100.00
|
AA
|
110,297
|
|||||
1,000
|
Connecticut State, General Obligation Bonds, Series 2011D, 5.000%, 11/01/31
|
11/21 at 100.00
|
AA
|
1,104,030
|
|||||
Hartford, Connecticut, General Obligation Bonds, Series 2005A:
|
|||||||||
360
|
5.000%, 8/01/21 – AGM Insured
|
8/15 at 100.00
|
AA–
|
398,570
|
|||||
240
|
4.375%, 8/01/24 – AGM Insured
|
8/15 at 100.00
|
AA–
|
248,503
|
|||||
600
|
Hartford, Connecticut, General Obligation Bonds, Series 2009A, 5.000%, 8/15/28 – AGC Insured
|
8/19 at 100.00
|
AA–
|
652,074
|
|||||
400
|
North Haven, Connecticut, General Obligation Bonds, Series 2006, 5.000%, 7/15/24
|
No Opt. Call
|
Aa1
|
494,908
|
|||||
1,850
|
Oregon State, General Obligation Bonds, Oregon University System Projects, Series 2011G, 5.000%, 8/01/36
|
8/21 at 100.00
|
AA+
|
2,000,905
|
|||||
Suffield, Connecticut, General Obligation Bonds, Series 2005:
|
|||||||||
335
|
5.000%, 6/15/17
|
No Opt. Call
|
AA+
|
401,303
|
|||||
335
|
5.000%, 6/15/19
|
No Opt. Call
|
AA+
|
411,953
|
|||||
6,480
|
Total Tax Obligation/General
|
7,196,842
|
|||||||
Tax Obligation/Limited – 27.7% (17.2% of Total Investments)
|
|||||||||
Connecticut Health and Educational Facilities Authority, Child Care Facilities Program Revenue Bonds, Series 2006F:
|
|||||||||
650
|
5.000%, 7/01/31 – AGC Insured
|
7/16 at 100.00
|
AA–
|
671,600
|
|||||
500
|
5.000%, 7/01/36 – AGC Insured
|
7/16 at 100.00
|
AA–
|
511,380
|
|||||
Connecticut, Certificates of Participation, Juvenile Training School, Series 2001:
|
|||||||||
600
|
5.000%, 12/15/20
|
12/11 at 101.00
|
AA–
|
607,980
|
|||||
1,000
|
5.000%, 12/15/30
|
12/11 at 101.00
|
AA–
|
1,009,930
|
|||||
1,475
|
Connecticut, Special Tax Obligation Transportation Infrastructure Purpose Bonds, Series 1998B, 5.500%, 11/01/12 – AGM Insured
|
No Opt. Call
|
AA
|
1,545,756
|
|||||
900
|
Connecticut, Special Tax Obligation Transportation Infrastructure Purpose Revenue Bonds, Series 2007A, 5.000%, 8/01/27 – AMBAC Insured
|
8/17 at 100.00
|
AA
|
978,723
|
|||||
500
|
Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Harbor Point Project, Series 2010A, 7.875%, 4/01/39
|
4/20 at 100.00
|
N/R
|
527,300
|
|||||
600
|
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N, 5.250%, 7/01/31 – AMBAC Insured
|
No Opt. Call
|
Baa1
|
605,472
|
|||||
470
|
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A, 0.000%, 7/01/32 – FGIC Insured
|
No Opt. Call
|
BBB+
|
120,123
|
|||||
1,200
|
Puerto Rico Municipal Finance Agency, Series 2005C, 5.000%, 8/01/16 – AGM Insured
|
8/15 at 100.00
|
AA–
|
1,306,944
|
|||||
1,000
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010A, 5.375%, 8/01/39
|
2/20 at 100.00
|
A+
|
1,031,250
|
32 |
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Tax Obligation/Limited (continued)
|
|||||||||
$
|
325
|
Stamford, Connecticut, Special Obligation Revenue Bonds, Mill River Corridor Project, Series 2011aA, 7.000%, 4/01/41
|
4/21 at 100.00
|
N/R
|
$
|
325,397
|
|||
685
|
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Series 1999A, 6.375%, 10/01/19
|
4/12 at 100.00
|
BBB+
|
686,445
|
|||||
710
|
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Senior Lien Series 2010A, 5.000%, 10/01/29
|
10/20 at 100.00
|
BBB
|
706,223
|
|||||
10,615
|
Total Tax Obligation/Limited
|
10,634,523
|
|||||||
U.S. Guaranteed – 7.7% (4.8% of Total Investments) (5)
|
|||||||||
475
|
Connecticut Higher Education Supplemental Loan Authority, Revenue Bonds, Family Education Loan Program, Series 2001A, 5.250%, 11/15/18 (Pre-refunded 5/15/12) – NPFG Insured (Alternative Minimum Tax)
|
5/12 at 100.00
|
Aa2 (5)
|
475,717
|
|||||
500
|
Connecticut, General Obligation Bonds, Series 2002B, 5.500%, 6/15/21 (Pre-refunded 6/15/12)
|
6/12 at 100.00
|
AA (5)
|
514,340
|
|||||
1,000
|
Waterbury, Connecticut, General Obligation Special Capital Reserve Fund Bonds, Series 2002A, 5.375%, 4/01/17 (Pre-refunded 4/01/12) – AGM Insured
|
4/12 at 100.00
|
AA (5)
|
1,017,320
|
|||||
810
|
West Hartford, Connecticut, General Obligation Bonds, Series 2005B, 5.000%, 10/01/18 (Pre-refunded 10/01/15)
|
10/15 at 100.00
|
AAA
|
932,456
|
|||||
2,785
|
Total U.S. Guaranteed
|
2,939,833
|
|||||||
Utilities – 5.4% (3.4% of Total Investments)
|
|||||||||
560
|
Connecticut Development Authority, Solid Waste Disposal Facilities Revenue Bonds, PSEG Power LLC Project, Series 2007A, 5.750%, 11/01/37 (Alternative Minimum Tax)
|
11/12 at 100.00
|
Baa1
|
560,812
|
|||||
1,000
|
Connecticut Resource Recovery Authority, Revenue Bonds, American Ref-Fuel Company of Southeastern Connecticut LP, Series 1998A-I, 5.500%, 11/15/15 (Alternative Minimum Tax)
|
6/12 at 102.00
|
Ba1
|
1,003,730
|
|||||
525
|
Eastern Connecticut Resource Recovery Authority, Solid Waste Revenue Bonds, Wheelabrator Lisbon Project, Series 1993A, 5.500%, 1/01/14 (Alternative Minimum Tax)
|
1/12 at 100.00
|
BBB
|
526,402
|
|||||
2,085
|
Total Utilities
|
2,090,944
|
|||||||
Water and Sewer – 16.6% (10.3% of Total Investments)
|
|||||||||
255
|
Connecticut Development Authority, Water Facility Revenue Bonds, Aquarion Water Company Project, Series 2007, 5.100%, 9/01/37 – SYNCORA GTY Insured (Alternative Minimum Tax)
|
9/17 at 100.00
|
N/R
|
226,137
|
|||||
1,185
|
Connecticut, State Revolving Fund General Revenue Bonds, Series 2003A, 5.000%, 10/01/16
|
10/13 at 100.00
|
AAA
|
1,277,442
|
|||||
Greater New Haven Water Pollution Control Authority, Connecticut, Regional Wastewater System Revenue Bonds, Series 2005A:
|
|||||||||
720
|
5.000%, 11/15/30 – NPFG Insured
|
11/15 at 100.00
|
A1
|
743,047
|
|||||
1,110
|
5.000%, 8/15/35 – NPFG Insured
|
11/15 at 100.00
|
A1
|
1,133,732
|
|||||
140
|
Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2005, 6.000%, 7/01/25
|
7/15 at 100.00
|
Ba2
|
142,015
|
|||||
375
|
Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2010, 5.625%, 7/01/40
|
7/20 at 100.00
|
Ba2
|
357,833
|
|||||
500
|
Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 6.000%, 7/01/38
|
7/18 at 100.00
|
Baa2
|
518,795
|
Nuveen Investments
|
|
33 |
Nuveen Connecticut Dividend Advantage Municipal Fund (continued)
|
||
NFC
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited) |
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Water and Sewer (continued)
|
|||||||||
South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Eighteenth Series 2003A:
|
|||||||||
$
|
750
|
5.000%, 8/01/20 – NPFG Insured
|
8/13 at 100.00
|
Aa3
|
$
|
779,648
|
|||
470
|
5.000%, 8/01/33 – NPFG Insured
|
8/13 at 100.00
|
Aa3
|
476,467
|
|||||
700
|
South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Twentieth-Sixth Series, 2011, 5.000%, 8/01/41
|
8/21 at 100.00
|
Aa3
|
738,108
|
|||||
6,205
|
Total Water and Sewer
|
6,393,224
|
|||||||
$
|
59,705
|
Total Investments (cost $60,130,978) – 160.8%
|
61,757,328
|
||||||
Floating Rate Obligations – (9.9)%
|
(3,820,000
|
) | |||||||
MuniFund Term Preferred Shares, at Liquidation Value – (53.3)% (6)
|
(20,470,000
|
) | |||||||
Other Assets Less Liabilities – 2.4%
|
950,236
|
||||||||
Net Assets Applicable to Common Shares – 100%
|
$
|
38,417,564
|
(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)
|
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.
|
|
(5)
|
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.
|
|
(6)
|
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 33.1%.
|
|
N/R
|
Not rated.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Inverse Floating Rate Securities for more information.
|
34 |
|
Nuveen Investments
|
Nuveen Connecticut Dividend Advantage Municipal Fund 2
|
||
NGK
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited)
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Consumer Staples – 1.8% (1.1% of Total Investments)
|
|||||||||
$
|
640
|
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, Series 2002, 5.375%, 5/15/33
|
5/12 at 100.00
|
BBB
|
$
|
599,014
|
|||
Education and Civic Organizations – 38.1% (24.3% of Total Investments)
|
|||||||||
275
|
Connecticut Health and Education Facilities Authority, Revenue Bonds, Connecticut College, Series 2011H, 5.000%, 7/01/41
|
7/21 at 100.00
|
A2
|
286,360
|
|||||
200
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Canterbury School, Series 2006B, 5.000%, 7/01/36 – RAAI Insured
|
7/16 at 100.00
|
N/R
|
186,090
|
|||||
135
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Chase Collegiate School, Series 2007A, 5.000%, 7/01/27 – RAAI Insured
|
7/17 at 100.00
|
N/R
|
132,700
|
|||||
500
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2010-O, 5.000%, 7/01/40
|
7/20 at 100.00
|
A–
|
517,805
|
|||||
310
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Loomis Chaffee School, Series 2005F, 5.250%, 7/01/19 – AMBAC Insured
|
No Opt. Call
|
A2
|
368,829
|
|||||
715
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Series 2007-I, 5.000%, 7/01/25 – NPFG Insured
|
7/17 at 100.00
|
A–
|
755,769
|
|||||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Renbrook School, Series 2007A:
|
|||||||||
75
|
5.000%, 7/01/30 – AMBAC Insured
|
7/17 at 100.00
|
N/R
|
76,184
|
|||||
120
|
5.000%, 7/01/37 – AMBAC Insured
|
7/17 at 100.00
|
N/R
|
118,543
|
|||||
500
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2011G, 5.625%, 7/01/41
|
7/21 at 100.00
|
BBB
|
520,260
|
|||||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, University of Hartford, Series 2002E:
|
|||||||||
590
|
5.500%, 7/01/22 – RAAI Insured
|
7/12 at 101.00
|
BBB–
|
598,449
|
|||||
1,000
|
5.250%, 7/01/32 – RAAI Insured
|
7/12 at 101.00
|
BBB–
|
974,180
|
|||||
500
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, University of Hartford, Series 2006G, 5.250%, 7/01/36 – RAAI Insured
|
7/16 at 100.00
|
BBB–
|
472,305
|
|||||
800
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Wesleyan University, Series 2010G, 5.000%, 7/01/35
|
7/20 at 100.00
|
AA
|
850,742
|
|||||
500
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2003X-1, 5.000%, 7/01/42 (UB)
|
7/13 at 100.00
|
AAA
|
512,875
|
|||||
1,600
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2007Z-1, 5.000%, 7/01/42 (UB)
|
7/16 at 100.00
|
AAA
|
1,681,776
|
|||||
2,750
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2007Z-3, 5.050%, 7/01/42 (UB) (4)
|
7/17 at 100.00
|
AAA
|
2,949,348
|
|||||
University of Connecticut, General Obligation Bonds, Series 2006A:
|
|||||||||
450
|
5.000%, 2/15/19 – FGIC Insured
|
2/16 at 100.00
|
AA
|
507,357
|
|||||
490
|
5.000%, 2/15/23 – FGIC Insured
|
2/16 at 100.00
|
AA
|
534,448
|
|||||
460
|
University of Connecticut, General Obligation Bonds, Series 2010A, 5.000%, 2/15/28
|
2/20 at 100.00
|
AA
|
510,393
|
|||||
500
|
University of Connecticut, Student Fee Revenue Refunding Bonds, Series 2002A, 5.250%, 11/15/22 – FGIC Insured
|
11/12 at 101.00
|
Aa2
|
522,150
|
|||||
12,470
|
Total Education and Civic Organizations
|
13,076,563
|
Nuveen Investments
|
|
35 |
Nuveen Connecticut Dividend Advantage Municipal Fund 2 (continued)
|
||
NGK
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited) |
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Health Care – 31.0% (19.8% of Total Investments)
|
|||||||||
$
|
300
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Bristol Hospital, Series 2002B, 5.500%, 7/01/32 – RAAI Insured
|
7/12 at 101.00
|
N/R
|
$
|
282,384
|
|||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Eastern Connecticut Health Network, Series 2000A:
|
|||||||||
20
|
6.125%, 7/01/20 – RAAI Insured
|
1/12 at 100.00
|
N/R
|
20,023
|
|||||
315
|
6.000%, 7/01/25 – RAAI Insured
|
1/12 at 100.00
|
N/R
|
315,085
|
|||||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Griffin Hospital, Series 2005B:
|
|||||||||
400
|
5.000%, 7/01/15 – RAAI Insured
|
No Opt. Call
|
N/R
|
424,200
|
|||||
300
|
5.000%, 7/01/20 – RAAI Insured
|
7/15 at 100.00
|
N/R
|
303,420
|
|||||
300
|
5.000%, 7/01/23 – RAAI Insured
|
7/15 at 100.00
|
N/R
|
296,097
|
|||||
700
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hartford Healthcare, Series 2011A, 5.000%, 7/01/41
|
7/21 at 100.00
|
A
|
700,763
|
|||||
170
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hospital For Special Care, Series 2007C, 5.250%, 7/01/32 – RAAI Insured
|
7/17 at 100.00
|
BBB–
|
161,085
|
|||||
400
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Lawrence and Memorial Hospitals, Series 2011F, 5.000%, 7/01/36
|
7/21 at 100.00
|
A+
|
404,388
|
|||||
1,190
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Middlesex Hospital, Series 2006, 5.000%, 7/01/32 – AGM Insured
|
7/16 at 100.00
|
Aa3
|
1,206,731
|
|||||
1,000
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, St. Francis Hospital and Medical Center, Series 2002D, 5.000%, 7/01/22 – RAAI Insured
|
7/12 at 101.00
|
N/R
|
948,690
|
|||||
315
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, Series 2010-I, 5.000%, 7/01/30
|
7/20 at 10.00
|
A
|
321,265
|
|||||
550
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Western Connecticut Health, Series 2011M, 5.375%, 7/01/41
|
7/21 at 100.00
|
A
|
571,263
|
|||||
750
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Western Connecticut Health, Series 2011N, 5.000%, 7/01/29
|
7/21 at 100.00
|
A
|
763,403
|
|||||
1,170
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Hospital, Series 2006J-1, 5.000%, 7/01/31 – AMBAC Insured
|
7/16 at 100.00
|
Aa3
|
1,211,839
|
|||||
200
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Hospital, Series 2010M, 5.500%, 7/01/40
|
7/20 at 100.00
|
Aa3
|
213,592
|
|||||
800
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Ascension Health Series 2010A, 5.000%, 11/15/40
|
11/19 at 100.00
|
AA+
|
824,600
|
|||||
175
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Catholic Health East Series 2010, 4.750%, 11/15/29
|
11/20 at 100.00
|
A
|
178,645
|
|||||
1,400
|
Monroe County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue Bonds, Unity Hospital of Rochester Project, Series 2010, 5.500%, 8/15/40
|
2/21 at 100.00
|
Aa2
|
1,512,714
|
|||||
10,455
|
Total Health Care
|
10,660,187
|
|||||||
Housing/Multifamily – 1.4% (0.9% of Total Investments)
|
|||||||||
480
|
Connecticut Housing Finance Authority, Multifamily Housing Mortgage Finance Program Bonds, Series 2006G-2, 4.800%, 11/15/27 (Alternative Minimum Tax)
|
11/15 at 100.00
|
AAA
|
480,758
|
|||||
Housing/Single Family – 8.4% (5.4% of Total Investments)
|
|||||||||
250
|
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2001C, 5.450%, 11/15/43 (Alternative Minimum Tax)
|
5/12 at 100.00
|
AAA
|
250,043
|
|||||
700
|
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2004-A5, 5.050%, 11/15/34
|
5/13 at 100.00
|
AAA
|
707,273
|
36 |
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Housing/Single Family (continued)
|
|||||||||
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2006-A1:
|
|||||||||
$
|
305
|
4.700%, 11/15/26 (Alternative Minimum Tax)
|
11/15 at 100.00
|
AAA
|
$
|
305,375
|
|||
330
|
4.800%, 11/15/31 (Alternative Minimum Tax)
|
11/15 at 100.00
|
AAA
|
326,858
|
|||||
585
|
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2006D, 4.650%, 11/15/27
|
5/16 at 100.00
|
AAA
|
594,594
|
|||||
700
|
Connecticut Housing Finance Authority, Single Family Housing Mortgage Finance Program Bonds, Series 2010-A2, 4.750%, 11/15/35
|
11/19 at 100.00
|
AAA
|
709,716
|
|||||
2,870
|
Total Housing/Single Family
|
2,893,859
|
|||||||
Long-Term Care – 3.5% (2.2% of Total Investments)
|
|||||||||
320
|
Connecticut Development Authority, First Mortgage Gross Revenue Healthcare Bonds, Elim Park Baptist Home Inc., Series 2003, 5.750%, 12/01/23
|
12/13 at 100.00
|
BBB
|
325,008
|
|||||
70
|
Connecticut Development Authority, First Mortgage Gross Revenue Refunding Healthcare Bonds, Church Homes Inc. – Congregational Avery Heights, Series 1997, 5.700%, 4/01/12
|
No Opt. Call
|
BBB–
|
70,140
|
|||||
450
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Village for Families and Children Inc., Series 2002A, 5.000%, 7/01/19 – AMBAC Insured
|
7/12 at 101.00
|
N/R
|
455,972
|
|||||
250
|
Connecticut State Development Authority, Health Facilities Revenue Bonds, Alzheimer’s Resource Center of Connecticut, Inc., Series 2007, 5.500%, 8/15/27
|
8/17 at 100.00
|
N/R
|
244,580
|
|||||
105
|
Hamden, Connecticut, Facility Revenue Bonds, Whitney Center Project, Series 2009A, 7.625%, 1/01/30
|
1/20 at 100.00
|
N/R
|
110,045
|
|||||
1,195
|
Total Long-Term Care
|
1,205,745
|
|||||||
Tax Obligation/General – 11.9% (7.6% of Total Investments)
|
|||||||||
600
|
Connecticut State, General Obligation Bonds, Series 2006A, 4.750%, 12/15/24
|
12/16 at 100.00
|
AA
|
660,876
|
|||||
400
|
Connecticut State, General Obligation Bonds, Series 2006C, 5.000%, 6/01/23 – AGM Insured
|
6/16 at 100.00
|
AA
|
441,188
|
|||||
Hartford, Connecticut, General Obligation Bonds, Series 2005A:
|
|||||||||
360
|
5.000%, 8/01/21 – AGM Insured
|
8/15 at 100.00
|
AA–
|
398,570
|
|||||
140
|
4.375%, 8/01/24 – AGM Insured
|
8/15 at 100.00
|
AA–
|
144,960
|
|||||
650
|
New Haven, Connecticut, General Obligation Bonds, Series 2006, 5.000%,
|
11/16 at 100.00
|
A1
|
740,136
|
|||||
11/01/17 – AMBAC Insured | |||||||||
1,130
|
Oregon State, General Obligation Bonds, Oregon University System Projects, Series 2011G, 5.000%, 8/01/36
|
8/21 at 100.00
|
AA+
|
1,222,174
|
|||||
400
|
Suffield, Connecticut, General Obligation Bonds, Series 2005, 5.000%, 6/15/21
|
No Opt. Call
|
AA+
|
495,916
|
|||||
3,680
|
Total Tax Obligation/General
|
4,103,820
|
|||||||
Tax Obligation/Limited – 16.7% (10.7% of Total Investments)
|
|||||||||
Connecticut Health and Educational Facilities Authority, Child Care Facilities Program Revenue Bonds, Series 2006F:
|
|||||||||
575
|
5.000%, 7/01/31 – AGC Insured
|
7/16 at 100.00
|
AA–
|
594,107
|
|||||
500
|
5.000%, 7/01/36 – AGC Insured
|
7/16 at 100.00
|
AA–
|
511,380
|
|||||
850
|
Connecticut, Special Tax Obligation Transportation Infrastructure Purpose Revenue Bonds, Series 2007A, 5.000%, 8/01/27 – AMBAC Insured
|
8/17 at 100.00
|
AA
|
924,350
|
|||||
500
|
Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Harbor Point Project, Series 2010A, 7.875%, 4/01/39
|
4/20 at 100.00
|
N/R
|
527,300
|
|||||
500
|
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N, 5.250%, 7/01/31 – AMBAC Insured
|
No Opt. Call
|
Baa1
|
504,560
|
|||||
430
|
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A, 0.000%, 7/01/32 – FGIC Insured
|
No Opt. Call
|
BBB+
|
109,899
|
|||||
750
|
Puerto Rico Municipal Finance Agency, Series 2005C, 5.000%, 8/01/16 – AGM Insured
|
8/15 at 100.00
|
AA–
|
816,840
|
|||||
1,000
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010A, 5.375%, 8/01/39
|
2/20 at 100.00
|
A+
|
1,031,250
|
Nuveen Investments
|
37
|
Nuveen Connecticut Dividend Advantage Municipal Fund 2 (continued)
|
||
NGK
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited) |
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Tax Obligation/Limited (continued)
|
|||||||||
$
|
300
|
Stamford, Connecticut, Special Obligation Revenue Bonds, Mill River Corridor Project, Series 2011aA, 7.000%, 4/01/41
|
4/21 at 100.00
|
N/R
|
$
|
300,366
|
|||
420
|
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Senior Lien Series 2010A, 5.000%, 10/01/29
|
10/20 at 100.00
|
BBB
|
417,766
|
|||||
5,825
|
Total Tax Obligation/Limited
|
5,737,818
|
|||||||
Transportation – 6.0% (3.9% of Total Investments)
|
|||||||||
1,950
|
New Haven, Connecticut, Revenue Refunding Bonds, Air Rights Parking Facility, Series 2002, 5.375%, 12/01/15 – AMBAC Insured
|
No Opt. Call
|
N/R
|
2,076,458
|
|||||
U.S. Guaranteed – 17.9% (11.4% of Total Investments) (5)
|
|||||||||
1,625
|
Connecticut, Special Tax Obligation Transportation Infrastructure Purpose Bonds, Series 2002A, 5.375%, 7/01/20 (Pre-refunded 7/01/12) – AGM Insured
|
7/12 at 100.00
|
AA (5)
|
1,673,994
|
|||||
Farmington, Connecticut, General Obligation Bonds, Series 2002:
|
|||||||||
1,000
|
5.000%, 9/15/20 (Pre-refunded 9/15/12)
|
9/12 at 101.00
|
Aaa
|
1,047,590
|
|||||
1,450
|
5.000%, 9/15/21 (Pre-refunded 9/15/12)
|
9/12 at 101.00
|
Aaa
|
1,519,006
|
|||||
1,305
|
Hartford County Metropolitan District, Connecticut, General Obligation Bonds, Series 2002, 5.000%, 4/01/22 (Pre-refunded 4/01/12)
|
4/12 at 101.00
|
AA+ (5)
|
1,339,191
|
|||||
500
|
West Hartford, Connecticut, General Obligation Bonds, Series 2005B, 5.000%, 10/01/17 (Pre-refunded 10/01/15)
|
10/15 at 100.00
|
AAA
|
575,590
|
|||||
5,880
|
Total U.S. Guaranteed
|
6,155,371
|
|||||||
Utilities – 6.5% (4.1% of Total Investments)
|
|||||||||
470
|
Connecticut Development Authority, Solid Waste Disposal Facilities Revenue Bonds, PSEG Power LLC Project, Series 2007A, 5.750%, 11/01/37 (Alternative Minimum Tax)
|
11/12 at 100.00
|
Baa1
|
470,682
|
|||||
1,000
|
Connecticut Resource Recovery Authority, Revenue Bonds, American Ref-Fuel Company of Southeastern Connecticut LP, Series 1998A-II, 5.500%, 11/15/15 (Alternative Minimum Tax)
|
12/12 at 101.00
|
Ba1
|
1,003,730
|
|||||
Eastern Connecticut Resource Recovery Authority, Solid Waste Revenue Bonds, Wheelabrator Lisbon Project, Series 1993A:
|
|||||||||
250
|
5.500%, 1/01/15 (Alternative Minimum Tax)
|
1/12 at 100.00
|
BBB
|
250,625
|
|||||
510
|
5.500%, 1/01/20 (Alternative Minimum Tax)
|
1/12 at 100.00
|
BBB
|
511,545
|
|||||
2,230
|
Total Utilities
|
2,236,582
|
|||||||
Water and Sewer – 13.5% (8.6% of Total Investments)
|
|||||||||
220
|
Connecticut Development Authority, Water Facility Revenue Bonds, Aquarion Water Company Project, Series 2007, 5.100%, 9/01/37 – SYNCORA GTY Insured (Alternative Minimum Tax)
|
9/17 at 100.00
|
N/R
|
195,098
|
|||||
785
|
Connecticut, State Revolving Fund General Revenue Bonds, Series 2003A, 5.000%, 10/01/16
|
10/13 at 100.00
|
AAA
|
846,238
|
|||||
Greater New Haven Water Pollution Control Authority, Connecticut, Regional Wastewater System Revenue Bonds, Series 2005A:
|
|||||||||
690
|
5.000%, 11/15/30 – NPFG Insured
|
11/15 at 100.00
|
A1
|
712,087
|
|||||
320
|
5.000%, 8/15/35 – NPFG Insured
|
11/15 at 100.00
|
A1
|
326,842
|
|||||
130
|
Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2005, 6.000%, 7/01/25
|
7/15 at 100.00
|
Ba2
|
131,871
|
|||||
350
|
Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2010, 5.625%, 7/01/40
|
7/20 at 100.00
|
Ba2
|
333,977
|
|||||
500
|
Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 6.000%, 7/01/38
|
7/18 at 100.00
|
Baa2
|
518,795
|
38 |
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Water and Sewer (continued)
|
|||||||||
South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Eighteenth Series 2003A:
|
|||||||||
$
|
750
|
5.000%, 8/01/20 – NPFG Insured
|
8/13 at 100.00
|
Aa3
|
$
|
779,648
|
|||
410
|
5.000%, 8/01/33 – NPFG Insured
|
8/13 at 100.00
|
Aa3
|
415,642
|
|||||
350
|
South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Twentieth-Sixth Series, 2011, 5.000%, 8/01/41
|
8/21 at 100.00
|
Aa3
|
369,054
|
|||||
4,505
|
Total Water and Sewer
|
4,629,252
|
|||||||
$
|
52,180
|
Total Investments (cost $52,389,487) – 156.7%
|
53,855,427
|
||||||
Floating Rate Obligations – (10.1)%
|
(3,460,000
|
) | |||||||
MuniFund Term Preferred Shares, at Liquidation Value – (49.3)% (6)
|
(16,950,000
|
) | |||||||
Other Assets Less Liabilities – 2.7%
|
921,444
|
||||||||
Net Assets Applicable to Common Shares – 100%
|
$
|
34,366,871
|
(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)
|
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.
|
|
(5)
|
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.
|
|
(6)
|
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 31.5%.
|
|
N/R
|
Not rated.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Inverse Floating Rate Securities for more information.
|
Nuveen Investments
|
|
39 |
Nuveen Connecticut Dividend Advantage Municipal Fund 3
|
||
NGO
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited)
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Consumer Staples – 3.0% (1.9% of Total Investments)
|
|||||||||
$
|
2,045
|
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, Series 2002, 5.375%, 5/15/33
|
5/12 at 100.00
|
BBB
|
$
|
1,914,038
|
|||
Education and Civic Organizations – 32.3% (20.5% of Total Investments)
|
|||||||||
350
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Canterbury School, Series 2006B, 5.000%, 7/01/36 – RAAI Insured
|
7/16 at 100.00
|
N/R
|
325,658
|
|||||
250
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Chase Collegiate School, Series 2007A, 5.000%, 7/01/27 – RAAI Insured
|
7/17 at 100.00
|
N/R
|
245,740
|
|||||
1,000
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Connecticut College, Series 2007G, 4.500%, 7/01/37 – NPFG Insured
|
7/17 at 100.00
|
A2
|
952,490
|
|||||
800
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2010-O, 5.000%, 7/01/35
|
7/20 at 100.00
|
A–
|
833,696
|
|||||
400
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Loomis Chaffee School, Series 2005F, 5.250%, 7/01/19 – AMBAC Insured
|
No Opt. Call
|
A2
|
475,908
|
|||||
1,000
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Series 2006H, 5.000%, 7/01/36 – AMBAC Insured
|
7/16 at 100.00
|
A–
|
1,018,190
|
|||||
1,300
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Series 2007-I, 5.000%, 7/01/25 – NPFG Insured
|
7/17 at 100.00
|
A–
|
1,374,120
|
|||||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Renbrook School, Series 2007A:
|
|||||||||
135
|
5.000%, 7/01/30 – AMBAC Insured
|
7/17 at 100.00
|
N/R
|
137,130
|
|||||
215
|
5.000%, 7/01/37 – AMBAC Insured
|
7/17 at 100.00
|
N/R
|
212,390
|
|||||
1,160
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2011G, 5.625%, 7/01/41
|
7/21 at 100.00
|
BBB
|
1,207,003
|
|||||
750
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, University of Hartford, Series 2002E, 5.500%, 7/01/22 – RAAI Insured
|
7/12 at 101.00
|
BBB–
|
760,740
|
|||||
650
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, University of Hartford, Series 2006G, 5.250%, 7/01/36 – RAAI Insured
|
7/16 at 100.00
|
BBB–
|
613,997
|
|||||
800
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Wesleyan University, Series 2010G, 5.000%, 7/01/35
|
7/20 at 100.00
|
AA
|
850,744
|
|||||
3,000
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2007Z-1, 5.000%, 7/01/42 (UB)
|
7/16 at 100.00
|
AAA
|
3,153,330
|
|||||
5,050
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2007Z-3, 5.050%, 7/01/42 (UB) (4)
|
7/17 at 100.00
|
AAA
|
5,416,075
|
|||||
University of Connecticut, General Obligation Bonds, Series 2006A:
|
|||||||||
850
|
5.000%, 2/15/19 – FGIC Insured
|
2/16 at 100.00
|
AA
|
958,341
|
|||||
490
|
5.000%, 2/15/23 – FGIC Insured
|
2/16 at 100.00
|
AA
|
534,448
|
|||||
535
|
University of Connecticut, General Obligation Bonds, Series 2010A, 5.000%, 2/15/28
|
2/20 at 100.00
|
AA
|
593,609
|
|||||
175
|
University of Connecticut, Student Fee Revenue Bonds, Refunding Series 2010A, 5.000%, 11/15/27
|
11/19 at 100.00
|
Aa2
|
194,700
|
|||||
500
|
University of Connecticut, Student Fee Revenue Refunding Bonds, Series 2002A, 5.250%, 11/15/22 – FGIC Insured
|
11/12 at 101.00
|
Aa2
|
522,150
|
|||||
19,410
|
Total Education and Civic Organizations
|
20,380,459
|
|||||||
Health Care – 28.0% (17.7% of Total Investments)
|
|||||||||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Bristol Hospital, Series 2002B:
|
|||||||||
500
|
5.500%, 7/01/21 – RAAI Insured
|
7/12 at 101.00
|
N/R
|
495,935
|
|||||
600
|
5.500%, 7/01/32 – RAAI Insured
|
7/12 at 101.00
|
N/R
|
564,768
|
40 |
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Health Care (continued)
|
|||||||||
$
|
750
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Eastern Connecticut Health Network, Series 2000A, 6.000%, 7/01/25 – RAAI Insured
|
1/12 at 100.00
|
N/R
|
$
|
750,203
|
|||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Griffin Hospital, Series 2005B:
|
|||||||||
490
|
5.000%, 7/01/15 – RAAI Insured
|
No Opt. Call
|
N/R
|
519,645
|
|||||
800
|
5.000%, 7/01/20 – RAAI Insured
|
7/15 at 100.00
|
N/R
|
809,120
|
|||||
1,400
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hartford Healthcare, Series 2011A, 5.000%, 7/01/41
|
7/21 at 100.00
|
A
|
1,401,526
|
|||||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hospital For Special Care, Series 2007C:
|
|||||||||
310
|
5.250%, 7/01/32 – RAAI Insured
|
7/17 at 100.00
|
BBB–
|
293,744
|
|||||
150
|
5.250%, 7/01/37 – RAAI Insured
|
7/17 at 100.00
|
BBB–
|
138,033
|
|||||
650
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Lawrence and Memorial Hospitals, Series 2011F, 5.000%, 7/01/36
|
7/21 at 100.00
|
A+
|
657,131
|
|||||
2,130
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Middlesex Hospital, Series 2006, 5.000%, 7/01/32 – AGM Insured
|
7/16 at 100.00
|
Aa3
|
2,159,948
|
|||||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Middlesex Hospital, Series 2011N:
|
|||||||||
400
|
5.000%, 7/01/26
|
7/21 at 100.00
|
A2
|
414,628
|
|||||
500
|
5.000%, 7/01/27
|
7/21 at 100.00
|
A2
|
513,975
|
|||||
310
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, Series 2010-I, 5.000%, 7/01/30
|
7/20 at 10.00
|
A
|
316,166
|
|||||
1,020
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Western Connecticut Health, Series 2011M, 5.375%, 7/01/41
|
7/21 at 100.00
|
A
|
1,059,433
|
|||||
1,000
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Western Connecticut Health, Series 2011N, 5.000%, 7/01/29
|
7/21 at 100.00
|
A
|
1,017,870
|
|||||
1,325
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Hospital, Series 2006J-1, 5.000%, 7/01/31 – AMBAC Insured
|
7/16 at 100.00
|
Aa3
|
1,372,382
|
|||||
350
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Hospital, Series 2010M, 5.500%, 7/01/40
|
7/20 at 100.00
|
Aa3
|
373,786
|
|||||
1,500
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Ascension Health Series 2010A, 5.000%, 11/15/40
|
11/19 at 100.00
|
AA+
|
1,546,125
|
|||||
300
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Catholic Health East Series 2010, 4.750%, 11/15/29
|
11/20 at 100.00
|
A
|
306,249
|
|||||
200
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Danbury Hospital, Series 2006H, 4.500%, 7/01/33 – AMBAC Insured
|
1/16 at 100.00
|
N/R
|
165,528
|
|||||
2,550
|
Monroe County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue Bonds, Unity Hospital of Rochester Project, Series 2010, 5.500%, 8/15/40
|
2/21 at 100.00
|
Aa2
|
2,755,301
|
|||||
17,235
|
Total Health Care
|
17,631,496
|
|||||||
Housing/Multifamily – 1.5% (1.0% of Total Investments)
|
|||||||||
960
|
Connecticut Housing Finance Authority, Multifamily Housing Mortgage Finance Program Bonds, Series 2006G-2, 4.800%, 11/15/27 (Alternative Minimum Tax)
|
11/15 at 100.00
|
AAA
|
961,517
|
|||||
Housing/Single Family – 8.1% (5.1% of Total Investments)
|
|||||||||
750
|
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2001C, 5.450%, 11/15/43 (Alternative Minimum Tax)
|
5/12 at 100.00
|
AAA
|
750,128
|
|||||
1,300
|
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2004-A5, 5.050%, 11/15/34
|
5/13 at 100.00
|
AAA
|
1,313,507
|
Nuveen Investments
|
|
41 |
Nuveen Connecticut Dividend Advantage Municipal Fund 3 (continued)
|
||
NGO
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited) |
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Housing/Single Family (continued)
|
|||||||||
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2006-A1:
|
|||||||||
$
|
435
|
4.700%, 11/15/26 (Alternative Minimum Tax)
|
11/15 at 100.00
|
AAA
|
$
|
435,535
|
|||
465
|
4.800%, 11/15/31 (Alternative Minimum Tax)
|
11/15 at 100.00
|
AAA
|
460,573
|
|||||
585
|
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2006D, 4.650%, 11/15/27
|
5/16 at 100.00
|
AAA
|
594,594
|
|||||
1,500
|
Connecticut Housing Finance Authority, Single Family Housing Mortgage Finance Program Bonds, Series 2010-A2, 4.500%, 11/15/30
|
11/19 at 100.00
|
AAA
|
1,525,065
|
|||||
5,035
|
Total Housing/Single Family
|
5,079,402
|
|||||||
Long-Term Care – 9.5% (6.1% of Total Investments)
|
|||||||||
500
|
Connecticut Development Authority, First Mortgage Gross Revenue Healthcare Bonds, Elim Park Baptist Home Inc., Series 2003, 5.750%, 12/01/23
|
12/13 at 100.00
|
BBB
|
507,825
|
|||||
135
|
Connecticut Development Authority, First Mortgage Gross Revenue Refunding Healthcare Bonds, Church Homes Inc. – Congregational Avery Heights, Series 1997, 5.700%, 4/01/12
|
No Opt. Call
|
BBB–
|
135,270
|
|||||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Village for Families and Children Inc., Series 2002A:
|
|||||||||
430
|
5.000%, 7/01/18 – AMBAC Insured
|
7/12 at 101.00
|
N/R
|
437,005
|
|||||
475
|
5.000%, 7/01/20 – AMBAC Insured
|
7/12 at 101.00
|
N/R
|
480,135
|
|||||
260
|
5.000%, 7/01/23 – AMBAC Insured
|
7/12 at 101.00
|
N/R
|
260,754
|
|||||
1,000
|
5.000%, 7/01/32 – AMBAC Insured
|
7/12 at 101.00
|
N/R
|
931,220
|
|||||
Connecticut Housing Finance Authority, Special Needs Housing Mortgage Finance Program Special Obligation Bonds, Series 2002SNH-1:
|
|||||||||
1,000
|
5.000%, 6/15/22 – AMBAC Insured
|
6/12 at 101.00
|
N/R
|
1,040,560
|
|||||
1,500
|
5.000%, 6/15/32 – AMBAC Insured
|
6/12 at 101.00
|
N/R
|
1,520,130
|
|||||
500
|
Connecticut State Development Authority, Health Facilities Revenue Bonds, Alzheimer’s Resource Center of Connecticut, Inc., Series 2007, 5.500%, 8/15/27
|
8/17 at 100.00
|
N/R
|
489,160
|
|||||
210
|
Hamden, Connecticut, Facility Revenue Bonds, Whitney Center Project, Series 2009A, 7.625%, 1/01/30
|
1/20 at 100.00
|
N/R
|
220,091
|
|||||
6,010
|
Total Long-Term Care
|
6,022,150
|
|||||||
Tax Obligation/General – 13.3% (8.4% of Total Investments)
|
|||||||||
1,200
|
Connecticut State, General Obligation Bonds, Series 2006A, 4.750%, 12/15/24
|
12/16 at 100.00
|
AA
|
1,321,752
|
|||||
1,500
|
Connecticut State, General Obligation Bonds, Series 2006E, 5.000%, 12/15/20
|
12/16 at 10.00
|
AA
|
1,739,760
|
|||||
600
|
Hartford, Connecticut, General Obligation Bonds, Series 2005A, 5.000%, 8/01/21 – AGM Insured
|
8/15 at 100.00
|
AA–
|
664,284
|
|||||
440
|
Hartford, Connecticut, General Obligation Bonds, Series 2009A, 5.000%, 8/15/28 – AGC Insured
|
8/19 at 100.00
|
AA–
|
478,188
|
|||||
1,000
|
New Haven, Connecticut, General Obligation Bonds, Series 2006, 5.000%,
|
11/16 at 100.00
|
A1
|
1,138,670
|
|||||
11/01/17 – AMBAC Insured | |||||||||
925
|
Oregon State, General Obligation Bonds, Oregon University System Projects, Series 2011G, 5.000%, 8/01/36
|
8/21 at 100.00
|
AA+
|
1,000,452
|
|||||
Stratford, Connecticut, General Obligation Bonds, Series 2002:
|
|||||||||
1,375
|
4.000%, 2/15/19 – AGM Insured
|
2/12 at 100.00
|
AA–
|
1,381,311
|
|||||
630
|
4.125%, 2/15/20 – AGM Insured
|
2/12 at 100.00
|
AA–
|
632,684
|
|||||
7,670
|
Total Tax Obligation/General
|
8,357,101
|
|||||||
Tax Obligation/Limited – 18.5% (11.7% of Total Investments)
|
|||||||||
930
|
Connecticut Health and Educational Facilities Authority, Child Care Facilities Program Revenue Bonds, Series 2006F, 5.000%, 7/01/36 – AGC Insured
|
7/16 at 100.00
|
AA–
|
951,167
|
|||||
20
|
Connecticut, Special Tax Obligation Transportation Infrastructure Purpose Bonds, Series 1992B, 6.125%, 9/01/12
|
No Opt. Call
|
AA
|
20,874
|
|||||
1,000
|
Connecticut, Special Tax Obligation Transportation Infrastructure Purpose Bonds, Series 2002B, 5.000%, 12/01/22 – AMBAC Insured
|
12/12 at 100.00
|
AA
|
1,035,990
|
42 |
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Tax Obligation/Limited (continued)
|
|||||||||
$
|
500
|
Connecticut, Special Tax Obligation Transportation Infrastructure Purpose Bonds, Series 2003B, 5.000%, 1/01/23 – FGIC Insured
|
1/14 at 100.00
|
AA
|
$
|
533,725
|
|||
1,500
|
Connecticut, Special Tax Obligation Transportation Infrastructure Purpose Revenue Bonds, Series 2007A, 5.000%, 8/01/27 – AMBAC Insured
|
8/17 at 100.00
|
AA
|
1,631,205
|
|||||
900
|
Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Harbor Point Project, Series 2010A, 7.875%, 4/01/39
|
4/20 at 100.00
|
N/R
|
949,140
|
|||||
1,000
|
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N, 5.250%, 7/01/31 – AMBAC Insured
|
No Opt. Call
|
Baa1
|
1,009,120
|
|||||
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A:
|
|||||||||
780
|
0.000%, 7/01/32 – FGIC Insured
|
No Opt. Call
|
BBB+
|
199,352
|
|||||
2,120
|
0.000%, 7/01/33 – FGIC Insured
|
No Opt. Call
|
BBB+
|
499,408
|
|||||
Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Bonds, Series 2002G:
|
|||||||||
890
|
5.250%, 7/01/17
|
7/12 at 100.00
|
Baa1
|
898,953
|
|||||
1,000
|
5.250%, 7/01/20
|
7/12 at 100.00
|
Baa1
|
1,005,200
|
|||||
1,045
|
5.250%, 7/01/21
|
7/12 at 100.00
|
Baa1
|
1,049,379
|
|||||
650
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010A, 5.375%, 8/01/39
|
2/20 at 100.00
|
A+
|
670,313
|
|||||
500
|
Stamford, Connecticut, Special Obligation Revenue Bonds, Mill River Corridor Project, Series 2011aA, 7.000%, 4/01/41
|
4/21 at 100.00
|
N/R
|
500,610
|
|||||
735
|
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Senior Lien Series 2010A, 5.000%, 10/01/29
|
10/20 at 100.00
|
BBB
|
731,090
|
|||||
13,570
|
Total Tax Obligation/Limited
|
11,685,526
|
|||||||
Transportation – 0.7% (0.4% of Total Investments)
|
|||||||||
415
|
New Haven, Connecticut, Revenue Refunding Bonds, Air Rights Parking Facility, Series 2002, 5.375%, 12/01/15 – AMBAC Insured
|
No Opt. Call
|
N/R
|
441,913
|
|||||
U.S. Guaranteed – 17.8% (11.3% of Total Investments) (5)
|
|||||||||
Bethel, Connecticut, General Obligation Bonds, Series 2002:
|
|||||||||
525
|
5.000%, 11/01/18 (Pre-refunded 11/01/12) – FGIC Insured
|
11/12 at 100.00
|
Aa2 (5)
|
547,512
|
|||||
525
|
5.000%, 11/01/19 (Pre-refunded 11/01/12) – FGIC Insured
|
11/12 at 100.00
|
Aa2 (5)
|
547,512
|
|||||
525
|
5.000%, 11/01/20 (Pre-refunded 11/01/12) – FGIC Insured
|
11/12 at 100.00
|
Aa2 (5)
|
547,512
|
|||||
525
|
5.000%, 11/01/21 (Pre-refunded 11/01/12) – FGIC Insured
|
11/12 at 100.00
|
Aa2 (5)
|
547,512
|
|||||
525
|
5.000%, 11/01/22 (Pre-refunded 11/01/12) – FGIC Insured
|
11/12 at 100.00
|
Aa2 (5)
|
547,512
|
|||||
500
|
Bridgeport, Connecticut, General Obligation Bonds, Series 2003A, 5.250%, 9/15/23 (Pre-refunded 9/15/13) – AGM Insured
|
9/13 at 100.00
|
AA– (5)
|
543,190
|
|||||
1,025
|
Connecticut Development Authority, Revenue Bonds, Duncaster Inc., Series 2002, 4.750%, 8/01/32 (Pre-refunded 8/01/12) – RAAI Insured
|
8/12 at 101.00
|
BBB (5)
|
1,065,057
|
|||||
Connecticut, Special Tax Obligation Transportation Infrastructure Purpose Bonds, Series 2002B:
|
|||||||||
2,110
|
5.000%, 12/01/20 (Pre-refunded 12/01/12) – AMBAC Insured
|
12/12 at 100.00
|
AA (5)
|
2,209,824
|
|||||
1,000
|
5.000%, 12/01/21 (Pre-refunded 12/01/12) – AMBAC Insured
|
12/12 at 100.00
|
AA (5)
|
1,047,310
|
|||||
450
|
Farmington, Connecticut, General Obligation Bonds, Series 2002, 5.000%, 9/15/20 (Pre-refunded 9/15/12)
|
9/12 at 101.00
|
Aaa
|
471,416
|
|||||
40
|
New Haven, Connecticut, General Obligation Bonds, Series 2002A, 5.250%, 11/01/17 – AMBAC Insured (ETM)
|
5/12 at 101.00
|
A1 (5)
|
40,562
|
|||||
1,010
|
Puerto Rico Public Finance Corporation, Commonwealth Appropriation Bonds, Series 1998A, 5.125%, 6/01/24 – AMBAC Insured
|
No Opt. Call
|
Aaa
|
1,191,224
|
Nuveen Investments
|
43
|
Nuveen Connecticut Dividend Advantage Municipal Fund 3 (continued)
|
||
NGO
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited) |
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
U.S. Guaranteed (5) (continued)
|
|||||||||
$
|
195
|
Puerto Rico Public Finance Corporation, Commonwealth Appropriation Bonds, Series 2002E, 5.500%, 8/01/29 (Pre-refunded 2/01/12)
|
2/12 at 100.00
|
Aaa
|
$
|
196,757
|
|||
1,100
|
University of Connecticut, General Obligation Bonds, Series 2003A, 5.125%, 2/15/21 (Pre-refunded 2/15/13) – NPFG Insured
|
2/13 at 100.00
|
AA (5)
|
1,163,965
|
|||||
500
|
West Hartford, Connecticut, General Obligation Bonds, Series 2005B, 5.000%, 10/01/18 (Pre-refunded 10/01/15)
|
10/15 at 100.00
|
AAA
|
575,590
|
|||||
10,555
|
Total U.S. Guaranteed
|
11,242,455
|
|||||||
Utilities – 6.7% (4.3% of Total Investments)
|
|||||||||
860
|
Connecticut Development Authority, Solid Waste Disposal Facilities Revenue Bonds, PSEG Power LLC Project, Series 2007A, 5.750%, 11/01/37 (Alternative Minimum Tax)
|
11/12 at 100.00
|
Baa1
|
861,247
|
|||||
2,000
|
Connecticut Resource Recovery Authority, Revenue Bonds, American Ref-Fuel Company of Southeastern Connecticut LP, Series 1998A-I, 5.500%, 11/15/15 (Alternative Minimum Tax)
|
6/12 at 102.00
|
Ba1
|
2,007,460
|
|||||
Eastern Connecticut Resource Recovery Authority, Solid Waste Revenue Bonds, Wheelabrator Lisbon Project, Series 1993A:
|
|||||||||
525
|
5.500%, 1/01/14 (Alternative Minimum Tax)
|
1/12 at 100.00
|
BBB
|
526,402
|
|||||
305
|
5.500%, 1/01/20 (Alternative Minimum Tax)
|
1/12 at 100.00
|
BBB
|
305,924
|
|||||
530
|
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2010XX, 5.250%, 7/01/40
|
7/20 at 100.00
|
A3
|
531,972
|
|||||
4,220
|
Total Utilities
|
4,233,005
|
|||||||
Water and Sewer – 18.3% (11.6% of Total Investments)
|
|||||||||
400
|
Connecticut Development Authority, Water Facility Revenue Bonds, Aquarion Water Company Project, Series 2007, 5.100%, 9/01/37 – SYNCORA GTY Insured (Alternative Minimum Tax)
|
9/17 at 100.00
|
N/R
|
354,724
|
|||||
1,185
|
Connecticut, State Revolving Fund General Revenue Bonds, Series 2003A, 5.000%, 10/01/16
|
10/13 at 100.00
|
AAA
|
1,277,442
|
|||||
Greater New Haven Water Pollution Control Authority, Connecticut, Regional Wastewater System Revenue Bonds, Series 2005A:
|
|||||||||
1,230
|
5.000%, 11/15/30 – NPFG Insured
|
11/15 at 100.00
|
A1
|
1,269,372
|
|||||
640
|
5.000%, 8/15/35 – NPFG Insured
|
11/15 at 100.00
|
A1
|
653,683
|
|||||
230
|
Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2005, 6.000%, 7/01/25
|
7/15 at 100.00
|
Ba2
|
233,310
|
|||||
600
|
Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2010, 5.625%, 7/01/40
|
7/20 at 100.00
|
Ba2
|
572,532
|
|||||
1,000
|
Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 6.000%, 7/01/38
|
7/18 at 100.00
|
Baa2
|
1,037,590
|
|||||
South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Eighteenth Series 2003A:
|
|||||||||
2,050
|
5.000%, 8/01/20 – NPFG Insured
|
8/13 at 100.00
|
Aa3
|
2,131,037
|
|||||
590
|
5.000%, 8/01/33 – NPFG Insured
|
8/13 at 100.00
|
Aa3
|
598,118
|
|||||
1,840
|
South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Twentieth Series, 2007A, 5.000%, 8/01/30 – NPFG Insured
|
8/16 at 100.00
|
Aa3
|
1,924,346
|
44 |
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Water and Sewer (continued)
|
|||||||||
$
|
1,050
|
South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Twentieth-Sixth Series, 2011, 5.000%, 8/01/41
|
8/21 at 100.00
|
Aa3
|
$
|
1,107,162
|
|||
350
|
Stamford, Connecticut, Water Pollution Control System and Facility Revenue Bonds, Series 2003A, 5.000%, 11/15/32
|
11/13 at 100.00
|
AA+
|
369,933
|
|||||
11,165
|
Total Water and Sewer
|
11,529,249
|
|||||||
$
|
98,290
|
Total Investments (cost $97,467,499) – 157.7%
|
99,478,311
|
||||||
Floating Rate Obligations – (9.2)%
|
(5,780,000
|
) | |||||||
MuniFund Term Preferred Shares, at Liquidation Value – (50.7)% (6)
|
(32,000,000
|
) | |||||||
Other Assets Less Liabilities – 2.2%
|
1,373,253
|
||||||||
Net Assets Applicable to Common Shares – 100%
|
$
|
63,071,564
|
(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)
|
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.
|
|
(5)
|
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.
|
|
(6)
|
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 32.2%.
|
|
N/R
|
Not rated.
|
|
(ETM)
|
Escrowed to maturity.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Inverse Floating Rate Securities for more information.
|
Nuveen Investments
|
|
45 |
Nuveen Massachusetts Premium Income Municipal Fund
|
||
NMT
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited)
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Consumer Discretionary – 1.5% (1.0% of Total Investments)
|
|||||||||
$
|
1,425
|
Boston Industrial Development Financing Authority, Massachusetts, Senior Revenue Bonds, Crosstown Center Project, Series 2002, 6.500%, 9/01/35 (Alternative Minimum Tax) (4)
|
9/12 at 102.00
|
Caa3
|
$
|
1,020,072
|
|||
Education and Civic Organizations – 34.2% (22.5% of Total Investments)
|
|||||||||
1,000
|
Massachusetts Development Finance Agency Revenue Bonds, Lesley University Issue Series B-1 and B-2, 5.250%, 7/01/33 – AGM Insured
|
7/21 at 100.00
|
AA–
|
1,053,460
|
|||||
375
|
Massachusetts Development Finance Agency, Revenue Bonds, Boston University, Series 2009V-1, 5.000%, 10/01/29
|
10/19 at 100.00
|
A
|
388,875
|
|||||
1,000
|
Massachusetts Development Finance Agency, Revenue Bonds, Emerson College, Series 2010A, 5.000%, 1/01/40
|
1/20 at 100.00
|
BBB+
|
959,900
|
|||||
1,000
|
Massachusetts Development Finance Agency, Revenue Bonds, Sterling and Francine Clark Art Institute, Series 2011A, 5.000%, 7/01/41
|
7/21 at 100.00
|
AA
|
1,045,280
|
|||||
2,000
|
Massachusetts Development Finance Agency, Revenue Bonds, The Broad Institute, Series 2011A, 5.250%, 4/01/37
|
4/21 at 100.00
|
AA–
|
2,090,680
|
|||||
1,045
|
Massachusetts Development Finance Agency, Revenue Bonds, Worcester Polytechnic Institute, Series 2007, 5.000%, 9/01/37 – NPFG Insured
|
9/17 at 100.00
|
A+
|
1,067,164
|
|||||
770
|
Massachusetts Development Finance Authority, Revenue Bonds, Curry College, Series 2000A, 6.000%, 3/01/20 – ACA Insured
|
3/12 at 100.00
|
BBB
|
771,063
|
|||||
1,745
|
Massachusetts Development Finance Authority, Revenue Bonds, Massachusetts College of Pharmacy and Allied Health Sciences, Series 2005D, 5.000%,
|
7/15 at 100.00
|
AA–
|
1,817,208
|
|||||
7/01/27 – AGC Insured | |||||||||
1,500
|
Massachusetts Development Finance Authority, Revenue Bonds, WGBH Educational Foundation, Series 2002A, 5.750%, 1/01/42 – AMBAC Insured
|
No Opt. Call
|
A
|
1,645,395
|
|||||
4,850
|
Massachusetts Development Finance Authority, Revenue Bonds, WGBH Educational Foundation, Series 2008A, 5.000%, 1/01/42 – AGC Insured
|
1/18 at 100.00
|
AA–
|
4,922,212
|
|||||
1,090
|
Massachusetts Development Finance Authority, Revenue Refunding Bonds, Boston University, Series 1999P, 6.000%, 5/15/29
|
No Opt. Call
|
A2
|
1,321,898
|
|||||
1,000
|
Massachusetts Educational Financing Authority, Educational Loan Revenue, Series 2011J, 5.625%, 7/01/33 (Alternative Minimum Tax)
|
7/21 at 100.00
|
AA
|
1,005,090
|
|||||
2,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Boston College, Series 2003N, 5.250%, 6/01/18
|
6/13 at 100.00
|
AA–
|
2,110,780
|
|||||
1,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Springfield College, Series 2010, 5.500%, 10/15/31
|
10/19 at 100.00
|
Baa1
|
984,500
|
|||||
250
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Tufts University, Series 2008O, 5.375%, 8/15/38
|
8/18 at 100.00
|
Aa2
|
272,675
|
|||||
500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Wellesley College, Series 2003H, 5.000%, 7/01/26
|
7/13 at 100.00
|
Aaa
|
523,975
|
|||||
500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Wheaton College Issues, Series 2010F, 5.000%, 1/01/41
|
No Opt. Call
|
A2
|
509,470
|
|||||
555
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Williams College, Series 2003H, 5.000%, 7/01/21
|
7/13 at 100.00
|
AAA
|
590,431
|
|||||
500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Worcester State College, Series 2002, 5.000%, 11/01/32 – AMBAC Insured
|
11/12 at 100.00
|
A2
|
502,185
|
|||||
340
|
Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Higher Education Revenue Bonds, Ana G. Mendez University System, Series 1999, 5.375%, 2/01/19
|
2/12 at 100.00
|
BBB–
|
340,116
|
|||||
23,020
|
Total Education and Civic Organizations
|
23,922,357
|
|||||||
Health Care – 25.4% (16.7% of Total Investments)
|
|||||||||
1,000
|
Massachusetts Development Finance Agency, Revenue Bonds, Partners HealthCare System, Series 2011K-6, 5.375%, 7/01/41
|
7/20 at 100.00
|
AA
|
1,049,720
|
|||||
1,250
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Berkshire Health System, Series 2001E, 6.250%, 10/01/31
|
10/13 at 100.00
|
BBB+
|
1,256,850
|
46 |
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Health Care (continued)
|
|||||||||
$
|
1,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Cape Cod Health Care Inc., Series 2001C, 5.250%, 11/15/31 – RAAI Insured
|
5/12 at 101.00
|
BBB+
|
$
|
972,860
|
|||
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Caregroup Inc., Series B1 Capital Asset Program Converted June 13,2008:
|
|||||||||
2,300
|
5.375%, 2/01/26 – NPFG Insured
|
8/18 at 100.00
|
A–
|
2,385,859
|
|||||
770
|
5.375%, 2/01/28 – NPFG Insured
|
8/18 at 100.00
|
A–
|
790,759
|
|||||
1,500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Caregroup Inc., Series B2, Capital Asset Program, Converted June 9, 2009, 5.375%, 2/01/27 – NPFG Insured
|
8/18 at 100.00
|
A–
|
1,543,875
|
|||||
1,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Children’s Hospital, Series 2009M, 5.500%, 12/01/39
|
12/19 at 100.00
|
AA
|
1,056,600
|
|||||
935
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Emerson Hospital, Series 2005E, 5.000%, 8/15/35 – RAAI Insured
|
8/15 at 100.00
|
N/R
|
757,818
|
|||||
1,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Lahey Clinic Medical Center, Series 2005C, 5.000%, 8/15/21 – FGIC Insured
|
8/15 at 100.00
|
A+
|
1,045,170
|
|||||
2,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Lahey Medical Center, Series 2007D, 5.250%, 8/15/28
|
8/17 at 100.00
|
A+
|
2,046,820
|
|||||
585
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Milford Regional Medical Center, Series 2007E, 5.000%, 7/15/32
|
7/17 at 100.00
|
BBB–
|
520,381
|
|||||
1,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Milton Hospital Project, Series 2005D, 5.250%, 7/01/30
|
7/15 at 100.00
|
BB–
|
845,230
|
|||||
75
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Partners HealthCare System Inc., Series 2001C, 5.750%, 7/01/32
|
7/12 at 100.00
|
AA
|
75,574
|
|||||
1,445
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, UMass Memorial Health Care, Series 2005D, 5.000%, 7/01/33
|
7/15 at 100.00
|
A–
|
1,356,898
|
|||||
2,000
|
Massachusetts State, Health and Educational Facilities Authority, Partners HealthCare System Inc., Series 2007G, 5.000%, 7/01/32
|
7/17 at 100.00
|
AA
|
2,046,360
|
|||||
17,860
|
Total Health Care
|
17,750,774
|
|||||||
Housing/Multifamily – 6.7% (4.4% of Total Investments)
|
|||||||||
1,305
|
Massachusetts Development Finance Authority, Multifamily Housing Revenue Bonds, Emerson Manor Project, Series 2007, 4.800%, 7/20/48
|
7/17 at 100.00
|
BB
|
1,300,902
|
|||||
1,715
|
Massachusetts Development Financing Authority, Assisted Living Revenue Bonds, Prospect House Apartments, Series 1999, 7.000%, 12/01/31
|
6/12 at 100.00
|
N/R
|
1,715,000
|
|||||
500
|
Massachusetts Housing Finance Agency, Housing Revenue Bonds, Series 2003S, 5.050%, 12/01/23 (Alternative Minimum Tax)
|
6/13 at 100.00
|
AA–
|
502,400
|
|||||
135
|
Massachusetts Housing Finance Agency, Rental Housing Mortgage Revenue Bonds, Series 1999D, 5.500%, 7/01/13 – AMBAC Insured (Alternative Minimum Tax)
|
7/12 at 100.00
|
N/R
|
135,923
|
|||||
1,000
|
Somerville Housing Authority, Massachusetts, GNMA Collateralized Mortgage Revenue Bonds, Clarendon Hill Towers, Series 2002, 5.200%, 11/20/22
|
5/12 at 103.00
|
N/R
|
1,035,780
|
|||||
4,655
|
Total Housing/Multifamily
|
4,690,005
|
|||||||
Housing/Single Family – 3.6% (2.4% of Total Investments)
|
|||||||||
1,500
|
Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Series 2006-126, 4.625%, 6/01/32 (Alternative Minimum Tax)
|
6/16 at 100.00
|
AA
|
1,432,995
|
|||||
985
|
Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Series 2008, Trust 3145, 14.395%, 6/01/16 (IF)
|
No Opt. Call
|
AA
|
1,111,149
|
|||||
2,485
|
Total Housing/Single Family
|
2,544,144
|
|||||||
Industrials – 0.9% (0.6% of Total Investments)
|
|||||||||
220
|
Massachusetts Development Finance Agency, Pioneer Valley Resource Recovery Revenue Bonds, Eco/Springfield LLC, Series 2006, 5.875%, 7/01/14 (Alternative Minimum Tax)
|
No Opt. Call
|
N/R
|
213,541
|
|||||
400
|
Massachusetts Development Finance Agency, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2003, 5.450%, 6/01/14
|
No Opt. Call
|
BBB
|
431,132
|
|||||
620
|
Total Industrials
|
644,673
|
Nuveen Investments
|
|
47 |
Nuveen Massachusetts Premium Income Municipal Fund (continued)
|
||
NMT
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited) |
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Long-Term Care – 7.0% (4.6% of Total Investments)
|
|||||||||
$
|
1,270
|
Boston, Massachusetts, FHA-Insured Mortgage Revenue Bonds, Deutsches Altenheim Inc., Series 1998A, 6.125%, 10/01/31
|
4/12 at 102.00
|
AAA
|
$
|
1,296,683
|
|||
185
|
Massachusetts Development Finance Agency, Revenue Bonds, Carleton-Willard Village, Series 2010, 5.625%, 12/01/30
|
12/19 at 100.00
|
A–
|
188,458
|
|||||
1,685
|
Massachusetts Development Finance Agency, Revenue Bonds, Orchard Cove, Series 2007, 5.250%, 10/01/26
|
10/12 at 102.00
|
N/R
|
1,444,584
|
|||||
1,500
|
Massachusetts Development Finance Authority, GNMA Collateralized Assisted Living Facility Revenue Bonds, Arbors at Chicopee, Series 2001A, 6.250%, 9/20/42 (Alternative Minimum Tax)
|
3/12 at 105.00
|
AAA
|
1,577,145
|
|||||
400
|
Massachusetts Industrial Finance Agency, First Mortgage Revenue Bonds, Berkshire Retirement Community, Series 1994B, 4.750%, 7/01/17
|
1/12 at 100.00
|
BBB
|
400,132
|
|||||
5,040
|
Total Long-Term Care
|
4,907,002
|
|||||||
Tax Obligation/General – 21.3% (14.0% of Total Investments)
|
|||||||||
500
|
Ashland, Massachusetts, General Obligation Bonds, Series 2004, 5.250%,
|
5/15 at 100.00
|
Aa2
|
536,960
|
|||||
5/15/23 – AMBAC Insured | |||||||||
600
|
Boston, Massachusetts, General Obligation Bonds, Series 2005A, 5.000%, 1/01/17
|
1/15 at 100.00
|
Aaa
|
667,416
|
|||||
1,000
|
Fall River, Massachusetts, General Obligation Bonds, Series 2003, 5.000%,
|
2/13 at 101.00
|
AA–
|
1,033,910
|
|||||
2/01/21 – AGM Insured | |||||||||
1,000
|
Hampden-Wilbraham Regional School District, Hampden County, Massachusetts, General Obligation Bonds, Series 2011, 5.000%, 2/15/41
|
2/21 at 100.00
|
Aa3
|
1,052,310
|
|||||
1,250
|
Hudson, Massachusetts, General Obligation Bonds, Municipal Purpose Loan Series 2011, 5.000%, 2/15/32
|
2/20 at 100.00
|
AA
|
1,338,013
|
|||||
1,385
|
Massachusetts Bay Transportation Authority, General Obligation Transportation System Bonds, Series 1991A, 7.000%, 3/01/21
|
No Opt. Call
|
AA+
|
1,717,885
|
|||||
1,275
|
Massachusetts, General Obligation Bonds, Consolidated Loan, Series 2001D, 6.000%, 11/01/13 – NPFG Insured
|
No Opt. Call
|
AA+
|
1,408,735
|
|||||
980
|
Monson, Massachusetts, General Obligation Bonds, Series 2002, 5.250%,
|
5/12 at 101.00
|
A1
|
1,008,146
|
|||||
5/15/22 – AMBAC Insured | |||||||||
1,260
|
Norwell, Massachusetts, General Obligation Bonds, Series 2003, 5.000%,
|
No Opt. Call
|
AAA
|
1,549,800
|
|||||
11/15/20 – FGIC Insured | |||||||||
1,000
|
Puerto Rico, General Obligation and Public Improvement Bonds, Series 2002A, 5.500%, 7/01/29 – FGIC Insured
|
No Opt. Call
|
Baa1
|
1,062,220
|
|||||
2,000
|
Quincy, Massachusetts, General Obligation Bonds, Series 2011, 5.250%, 12/01/38
|
12/20 at 100.00
|
Aa2
|
2,164,640
|
|||||
1,220
|
Worcester, Massachusetts, General Obligation Bonds, Series 2005A, 5.000%, 7/01/19 – FGIC Insured
|
7/15 at 100.00
|
A1
|
1,332,789
|
|||||
13,470
|
Total Tax Obligation/General
|
14,872,824
|
|||||||
Tax Obligation/Limited – 11.5% (7.6% of Total Investments)
|
|||||||||
210
|
Martha’s Vineyard Land Bank, Massachusetts, Revenue Bonds, Series 2004, 5.000%, 5/01/26 – AMBAC Insured
|
5/14 at 100.00
|
A–
|
221,193
|
|||||
975
|
Massachusetts Bay Transportation Authority, Sales Tax Revenue Bonds, Senior Lien Series 2006C, 5.000%, 7/01/26
|
7/18 at 100.00
|
AAA
|
1,075,103
|
|||||
385
|
Massachusetts Bay Transportation Authority, Senior Lien Sales Tax Revenue Refunding Bonds, Series 2004C, 5.250%, 7/01/21
|
No Opt. Call
|
AAA
|
480,137
|
|||||
325
|
Massachusetts College Building Authority, Project Revenue Bonds, Series 2006A, 5.000%, 5/01/31 – AMBAC Insured
|
5/16 at 100.00
|
Aa2
|
338,504
|
|||||
1,200
|
Massachusetts College Building Authority, Project Revenue Bonds, Series 2008A, 5.000%, 5/01/33 – AGC Insured
|
5/18 at 100.00
|
Aa2
|
1,248,348
|
|||||
1,000
|
Massachusetts College Building Authority, Project Revenue Refunding Bonds, Series 2003B, 5.375%, 5/01/23 – SYNCORA GTY Insured
|
No Opt. Call
|
Aa2
|
1,231,660
|
|||||
1,300
|
Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Series 2005A, 5.000%, 8/15/20 – AGM Insured (UB)
|
8/15 at 100.00
|
AA+
|
1,454,362
|
|||||
1,000
|
Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Series 2011B, 5.000%, 10/15/41
|
10/21 at 100.00
|
AA+
|
1,061,170
|
|||||
540
|
Massachusetts State, Special Obligation Dedicated Tax Revenue Bonds, Series 2005, 5.000%, 1/01/20 – FGIC Insured
|
No Opt. Call
|
A1
|
620,573
|
|||||
240
|
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A, 0.000%, 7/01/43 – AMBAC Insured
|
No Opt. Call
|
BBB+
|
26,909
|
48
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Tax Obligation/Limited (continued)
|
|||||||||
$
|
235
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA, 5.500%, 7/01/19 – NPFG Insured
|
No Opt. Call
|
A3
|
$
|
259,008
|
|||
7,410
|
Total Tax Obligation/Limited
|
8,016,967
|
|||||||
Transportation – 11.5% (7.6% of Total Investments)
|
|||||||||
500
|
Massachusetts Port Authority, Airport System Revenue Bonds, Series 2010A, 5.000%, 7/01/30
|
7/20 at 100.00
|
AA–
|
534,705
|
|||||
2,000
|
Massachusetts Port Authority, Revenue Bonds, Series 2003A, 5.000%, 7/01/33 – NPFG Insured
|
7/13 at 100.00
|
AA–
|
2,021,320
|
|||||
1,000
|
Massachusetts Port Authority, Special Facilities Revenue Bonds, BOSFUEL Corporation, Series 2007, 5.000%, 7/01/32 – FGIC Insured (Alternative Minimum Tax)
|
7/17 at 100.00
|
A3
|
991,710
|
|||||
225
|
Massachusetts Port Authority, Special Facilities Revenue Bonds, Delta Air Lines Inc., Series 2001A, 5.000%, 1/01/27 – AMBAC Insured (Alternative Minimum Tax)
|
1/12 at 100.00
|
N/R
|
170,170
|
|||||
4,000
|
Massachusetts Port Authority, Special Facilities Revenue Bonds, US Airways Group Inc., Series 1996A, 5.750%, 9/01/16 – NPFG Insured (Alternative Minimum Tax)
|
3/12 at 100.00
|
Baa1
|
3,822,760
|
|||||
470
|
Metropolitan Boston Transit Parking Corporation, Massachusetts, Systemwide Parking Revenue Bonds, Senior Lien Series 2011, 5.000%, 7/01/41
|
7/21 at 100.00
|
A+
|
477,675
|
|||||
8,195
|
Total Transportation
|
8,018,340
|
|||||||
U.S. Guaranteed – 14.4% (9.5% of Total Investments) (5)
|
|||||||||
650
|
Boston, Massachusetts, General Obligation Bonds, Series 2005A, 5.000%, 1/01/17 (Pre-refunded 1/01/15)
|
1/15 at 100.00
|
N/R (5)
|
735,716
|
|||||
1,115
|
Massachusetts Bay Transportation Authority, General Obligation Transportation System Bonds, Series 1991A, 7.000%, 3/01/21 (Pre-refunded 3/01/17)
|
3/17 at 100.00
|
N/R (5)
|
1,319,301
|
|||||
25
|
Massachusetts Bay Transportation Authority, Sales Tax Revenue Bonds, Senior Lien Series 2006C, 5.000%, 7/01/26 (Pre-refunded 7/01/18)
|
7/18 at 100.00
|
AAA
|
30,380
|
|||||
550
|
Massachusetts College Building Authority, Project Revenue Bonds, Series 2004A, 5.000%, 5/01/19 (Pre-refunded 5/01/14) – NPFG Insured
|
5/14 at 100.00
|
Aa2 (5)
|
607,602
|
|||||
1,000
|
Massachusetts Development Finance Authority, Revenue Bonds, Massachusetts College of Pharmacy and Allied Health Sciences, Series 2003C, 5.750%, 7/01/33 (Pre-refunded 7/01/13)
|
7/13 at 101.00
|
A (5)
|
1,093,170
|
|||||
750
|
Massachusetts Development Finance Authority, Revenue Bonds, Milton Academy, Series 2003A, 5.000%, 9/01/19 (Pre-refunded 9/01/13)
|
9/13 at 100.00
|
AA– (5)
|
808,695
|
|||||
410
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc., Series 1998A, 5.000%, 7/01/25 (Pre-refunded 7/01/21) – NPFG Insured
|
7/21 at 100.00
|
BBB (5)
|
480,475
|
|||||
1,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Caritas Christi Obligated Group, Series 2002B, 6.250%, 7/01/22 (Pre-refunded 7/01/12)
|
7/12 at 101.00
|
N/R (5)
|
1,045,190
|
|||||
600
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, New England Medical Center Hospitals, Series 2002H, 5.375%, 5/15/19 (Pre-refunded 5/15/12) – FGIC Insured
|
5/12 at 100.00
|
N/R (5)
|
614,190
|
|||||
295
|
Massachusetts Port Authority, Revenue Bonds, Series 1982, 13.000%, 7/01/13 (ETM)
|
1/12 at 100.00
|
AAA
|
333,318
|
|||||
1,500
|
Massachusetts State, Special Obligation Dedicated Tax Revenue Bonds, Series 2004, 5.250%, 1/01/25 (Pre-refunded 1/01/14) – FGIC Insured
|
1/14 at 100.00
|
A1 (5)
|
1,641,255
|
|||||
1,065
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA, 5.500%, 7/01/19 – NPFG Insured (ETM)
|
No Opt. Call
|
A3 (5)
|
1,348,418
|
|||||
8,960
|
Total U.S. Guaranteed
|
10,057,710
|
|||||||
Utilities – 2.9% (1.9% of Total Investments)
|
|||||||||
1,000
|
Massachusetts Development Finance Agency, Resource Recovery Revenue Bonds, SEMass System, Series 2001A, 5.625%, 1/01/16 – NPFG Insured
|
1/12 at 101.00
|
Baa1
|
1,012,050
|
|||||
1,000
|
Massachusetts Industrial Finance Agency, Resource Recovery Revenue Refunding Bonds, Ogden Haverhill Project, Series 1998A, 5.600%, 12/01/19 (Alternative Minimum Tax)
|
6/12 at 100.00
|
A–
|
1,003,170
|
|||||
2,000
|
Total Utilities
|
2,015,220
|
|||||||
Water and Sewer – 10.9% (7.2% of Total Investments)
|
|||||||||
500
|
Boston Water and Sewerage Commission, Massachusetts, General Revenue Bonds, Senior Lien Refunding Series 2010A, 5.000%, 11/01/30
|
11/19 at 100.00
|
AA+
|
553,475
|
|||||
2,000
|
Boston Water and Sewerage Commission, Massachusetts, General Revenue Bonds, Senior Series 2004A, 5.000%, 11/01/25
|
11/14 at 100.00
|
AA+
|
2,207,960
|
Nuveen Investments
|
|
49 |
Nuveen Massachusetts Premium Income Municipal Fund (continued)
|
||
NMT
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited) |
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Water and Sewer (continued)
|
|||||||||
$
|
60
|
Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Series 2003-9, 5.000%, 8/01/22
|
8/13 at 100.00
|
AAA
|
$
|
62,589
|
|||
285
|
Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Series 2004-10, 5.000%, 8/01/26
|
8/14 at 100.00
|
AAA
|
299,096
|
|||||
750
|
Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Series 2005-11, 4.500%, 8/01/29
|
8/15 at 100.00
|
AAA
|
774,668
|
|||||
1,000
|
Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Series 2006-12, 4.375%, 8/01/31 (UB)
|
8/16 at 100.00
|
AAA
|
1,028,010
|
|||||
500
|
Massachusetts Water Pollution Abatement Trust, Revenue Bonds, MWRA Loan Program, Series 2002A, 5.250%, 8/01/20
|
8/12 at 100.00
|
AAA
|
515,755
|
|||||
1,500
|
Massachusetts Water Resources Authority, General Revenue Bonds, Series 2005A, 5.000%, 8/01/28 – NPFG Insured
|
8/17 at 100.00
|
AA+
|
1,623,945
|
|||||
625
|
Massachusetts Water Resources Authority, General Revenue Bonds, Series 2006A, 4.000%, 8/01/46
|
8/16 at 100.00
|
AA+
|
577,375
|
|||||
7,220
|
Total Water and Sewer
|
7,642,873
|
|||||||
$
|
102,360
|
Total Investments (cost $103,614,513) – 151.8%
|
106,102,961
|
||||||
Floating Rate Obligations – (2.1)%
|
(1,435,000
|
) | |||||||
MuniFund Term Preferred Shares, at Liquidation Value – (52.4)% (6)
|
(36,645,000
|
) | |||||||
Other Assets Less Liabilities – 2.7%
|
1,882,526
|
||||||||
Net Assets Applicable to Common Shares – 100%
|
$
|
69,905,487
|
(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)
|
At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing security, in the case of a bond, 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.
|
|
(5)
|
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.
|
|
(6)
|
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investment is 34.5%.
|
|
N/R
|
Not rated.
|
|
(ETM)
|
Escrowed to maturity.
|
|
(IF)
|
Inverse floating rate investment.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Inverse Floating Rate Securities for more information.
|
50 |
|
Nuveen Investments
|
Nuveen Massachusetts Dividend Advantage Municipal Fund
|
||
NMB
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited)
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Consumer Discretionary – 1.2% (0.8% of Total Investments)
|
|||||||||
$
|
480
|
Boston Industrial Development Financing Authority, Massachusetts, Senior Revenue Bonds, Crosstown Center Project, Series 2002, 6.500%, 9/01/35 (Alternative Minimum Tax) (4)
|
9/12 at 102.00
|
Caa3
|
$
|
343,603
|
|||
Education and Civic Organizations – 46.3% (30.8% of Total Investments)
|
|||||||||
500
|
Massachusetts Development Finance Agency Revenue Bonds, Lesley University Issue Series B-1 and B-2, 5.250%, 7/01/33 – AGM Insured
|
7/21 at 100.00
|
AA–
|
526,730
|
|||||
375
|
Massachusetts Development Finance Agency, Revenue Bonds, Boston University, Series 2009V-1, 5.000%, 10/01/29
|
10/19 at 100.00
|
A
|
388,875
|
|||||
110
|
Massachusetts Development Finance Agency, Revenue Bonds, Draper Laboratory, Series 2008, 5.875%, 9/01/30
|
No Opt. Call
|
Aa3
|
120,086
|
|||||
400
|
Massachusetts Development Finance Agency, Revenue Bonds, Emerson College, Series 2010A, 5.000%, 1/01/40
|
1/20 at 100.00
|
BBB+
|
383,960
|
|||||
1,000
|
Massachusetts Development Finance Agency, Revenue Bonds, The Broad Institute, Series 2011A, 5.250%, 4/01/37
|
4/21 at 100.00
|
AA–
|
1,045,340
|
|||||
450
|
Massachusetts Development Finance Agency, Revenue Bonds, Worcester Polytechnic Institute, Series 2007, 5.000%, 9/01/37 – NPFG Insured
|
9/17 at 100.00
|
A+
|
459,545
|
|||||
495
|
Massachusetts Development Finance Authority, Revenue Bonds, Massachusetts College of Pharmacy and Allied Health Sciences, Series 2005D, 5.000%,
|
7/15 at 100.00
|
AA–
|
515,483
|
|||||
7/01/27 – AGC Insured | |||||||||
500
|
Massachusetts Development Finance Authority, Revenue Bonds, WGBH Educational Foundation, Series 2002A, 5.750%, 1/01/42 – AMBAC Insured
|
No Opt. Call
|
A
|
548,465
|
|||||
2,100
|
Massachusetts Development Finance Authority, Revenue Bonds, WGBH Educational Foundation, Series 2008A, 5.000%, 1/01/42 – AGC Insured
|
1/18 at 100.00
|
AA–
|
2,131,265
|
|||||
1,000
|
Massachusetts Development Finance Authority, Revenue Refunding Bonds, Boston University, Series 1999P, 6.000%, 5/15/59
|
5/29 at 105.00
|
A2
|
1,119,060
|
|||||
990
|
Massachusetts Educational Finance Authority, Educational Loan Revenue Bonds, Series 2001E, 5.300%, 1/01/16 – AMBAC Insured (Alternative Minimum Tax)
|
1/12 at 100.00
|
AA
|
991,822
|
|||||
595
|
Massachusetts Educational Financing Authority, Education Loan Revenue Bonds, Series 2008H, 6.350%, 1/01/30 – AGC Insured (Alternative Minimum Tax)
|
1/18 at 100.00
|
AA+
|
633,943
|
|||||
1,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Boston College, Series 2003N, 5.250%, 6/01/18
|
6/13 at 100.00
|
AA–
|
1,055,390
|
|||||
500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Springfield College, Series 2010, 5.500%, 10/15/31
|
10/19 at 100.00
|
Baa1
|
492,250
|
|||||
1,500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Wheaton College Issues, Series 2010F, 5.000%, 1/01/41
|
No Opt. Call
|
A2
|
1,528,410
|
|||||
590
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Williams College, Series 2007L, 5.000%, 7/01/31
|
7/16 at 100.00
|
AAA
|
621,170
|
|||||
500
|
Massachusetts Health and Educational Facilities Authority, Revenue Refunding Bonds, Suffolk University Issue, Series 2009A, 5.750%, 7/01/39
|
7/19 at 100.00
|
BBB
|
502,565
|
|||||
12,605
|
Total Education and Civic Organizations
|
13,064,359
|
|||||||
Health Care – 31.1% (20.7% of Total Investments)
|
|||||||||
1,200
|
Massachusetts Development Finance Agency, Revenue Bonds, Partners HealthCare System, Series 2011K-6, 5.375%, 7/01/41
|
7/20 at 100.00
|
AA
|
1,259,664
|
|||||
500
|
Massachusetts Development Finance Agency, Revenue Bonds, UMass Memorial Health, Series 2011H, 5.500%, 7/01/31
|
7/21 at 100.00
|
A–
|
507,980
|
|||||
500
|
Massachusetts Health and Educational Facilities Authority Revenue Bonds, Quincy Medical Center Issue, Series 2008A, 6.500%, 1/15/38 (4), (5)
|
1/18 at 100.00
|
N/R
|
94,970
|
|||||
160
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Baystate Medical Center, Series 2009I, 5.750%, 7/01/36
|
7/19 at 100.00
|
A+
|
165,805
|
|||||
500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Berkshire Health System, Series 2001E, 6.250%, 10/01/31
|
10/13 at 100.00
|
BBB+
|
502,740
|
|||||
775
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Caregroup Inc., Series B1 Capital Asset Program Converted June 13,2008, 5.375%, 2/01/26 – NPFG Insured
|
8/18 at 100.00
|
A–
|
803,931
|
|||||
500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Caregroup Inc., Series B2, Capital Asset Program, Converted June 9, 2009, 5.375%, 2/01/27 – NPFG Insured
|
8/18 at 100.00
|
A–
|
514,625
|
Nuveen Investments
|
|
51 |
Nuveen Massachusetts Dividend Advantage Municipal Fund (continued)
|
||
NMB
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited) |
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Health Care (continued)
|
|||||||||
$
|
1,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Children’s Hospital, Series 2009M, 5.500%, 12/01/39
|
12/19 at 100.00
|
AA
|
$
|
1,056,600
|
|||
295
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Covenant Health Systems Obligated Group, Series 2002, 6.000%, 7/01/31
|
1/12 at 101.00
|
A
|
298,074
|
|||||
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Emerson Hospital, Series 2005E:
|
|||||||||
550
|
5.000%, 8/15/25 – RAAI Insured
|
8/15 at 100.00
|
N/R
|
495,710
|
|||||
315
|
5.000%, 8/15/35 – RAAI Insured
|
8/15 at 100.00
|
N/R
|
255,308
|
|||||
600
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Lahey Clinic Medical Center, Series 2005C, 5.000%, 8/15/21 – FGIC Insured
|
8/15 at 100.00
|
A+
|
627,102
|
|||||
1,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Lahey Medical Center, Series 2007D, 5.250%, 8/15/28
|
8/17 at 100.00
|
A+
|
1,023,410
|
|||||
290
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Milford Regional Medical Center, Series 2007E, 5.000%, 7/15/32
|
7/17 at 100.00
|
BBB–
|
257,967
|
|||||
500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Milton Hospital Project, Series 2005D, 5.250%, 7/01/30
|
7/15 at 100.00
|
BB–
|
422,615
|
|||||
500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Northern Berkshire Community Services Inc., Series 2004B, 6.375%, 7/01/34 (4), (5), (6)
|
7/14 at 100.00
|
D
|
180,000
|
|||||
35
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Partners HealthCare System Inc., Series 2001C, 5.750%, 7/01/32
|
7/12 at 100.00
|
AA
|
35,268
|
|||||
285
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, UMass Memorial Health Care, Series 2005D, 5.000%, 7/01/33
|
7/15 at 100.00
|
A–
|
267,624
|
|||||
9,505
|
Total Health Care
|
8,769,393
|
|||||||
Housing/Multifamily – 7.4% (5.0% of Total Investments)
|
|||||||||
565
|
Massachusetts Development Finance Authority, Multifamily Housing Revenue Bonds, Emerson Manor Project, Series 2007, 4.800%, 7/20/48
|
7/17 at 100.00
|
BB
|
563,226
|
|||||
500
|
Massachusetts Housing Finance Agency, Housing Revenue Bonds, Series 2003S, 5.050%, 12/01/23 (Alternative Minimum Tax)
|
6/13 at 100.00
|
AA–
|
502,400
|
|||||
1,000
|
Somerville Housing Authority, Massachusetts, GNMA Collateralized Mortgage Revenue Bonds, Clarendon Hill Towers, Series 2002, 5.200%, 11/20/22
|
5/12 at 103.00
|
N/R
|
1,035,780
|
|||||
2,065
|
Total Housing/Multifamily
|
2,101,406
|
|||||||
Housing/Single Family – 4.1% (2.7% of Total Investments)
|
|||||||||
650
|
Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Series 2006-126, 4.625%, 6/01/32 (Alternative Minimum Tax)
|
6/16 at 100.00
|
AA
|
620,965
|
|||||
480
|
Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Series 2008, Trust 3145, 15.456%, 6/01/16 (IF)
|
No Opt. Call
|
AA
|
537,494
|
|||||
1,130
|
Total Housing/Single Family
|
1,158,459
|
|||||||
Industrials – 1.1% (0.7% of Total Investments)
|
|||||||||
105
|
Massachusetts Development Finance Agency, Pioneer Valley Resource Recovery Revenue Bonds, Eco/Springfield LLC, Series 2006, 5.875%, 7/01/14 (Alternative Minimum Tax)
|
No Opt. Call
|
N/R
|
101,917
|
|||||
200
|
Massachusetts Development Finance Agency, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2003, 5.450%, 6/01/14
|
No Opt. Call
|
BBB
|
215,566
|
|||||
305
|
Total Industrials
|
317,483
|
|||||||
Long-Term Care – 8.7% (5.8% of Total Investments)
|
|||||||||
100
|
Massachusetts Development Finance Agency, Revenue Bonds, Carleton-Willard Village, Series 2010, 5.625%, 12/01/30
|
12/19 at 100.00
|
A–
|
101,869
|
|||||
725
|
Massachusetts Development Finance Agency, Revenue Bonds, Orchard Cove, Series 2007, 5.250%, 10/01/26
|
10/12 at 102.00
|
N/R
|
621,557
|
|||||
655
|
Massachusetts Development Finance Authority, First Mortgage Revenue Bonds, Berkshire Retirement Community – Edgecombe Project, Series 2001A, 6.750%, 7/01/21
|
1/12 at 102.00
|
BBB
|
668,768
|
|||||
1,000
|
Massachusetts Development Finance Authority, GNMA Collateralized Assisted Living Facility Revenue Bonds, Arbors at Chicopee, Series 2001A, 6.250%, 9/20/42 (Alternative Minimum Tax)
|
3/12 at 105.00
|
AAA
|
1,051,430
|
|||||
2,480
|
Total Long-Term Care
|
2,443,624
|
52 |
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Tax Obligation/General – 15.5% (10.3% of Total Investments)
|
|||||||||
$
|
310
|
Ashland, Massachusetts, General Obligation Bonds, Series 2004, 5.250%,
|
5/15 at 100.00
|
Aa2
|
$
|
332,915
|
|||
5/15/23 – AMBAC Insured | |||||||||
440
|
Fall River, Massachusetts, General Obligation Bonds, Series 2003, 5.000%,
|
2/13 at 101.00
|
AA–
|
454,920
|
|||||
2/01/21 – AGM Insured | |||||||||
1,000
|
Hampden-Wilbraham Regional School District, Hampden County, Massachusetts, General Obligation Bonds, Series 2011, 5.000%, 2/15/41
|
2/21 at 100.00
|
Aa3
|
1,052,310
|
|||||
500
|
Norwell, Massachusetts, General Obligation Bonds, Series 2003, 5.000%,
|
No Opt. Call
|
AAA
|
615,000
|
|||||
11/15/20 – FGIC Insured | |||||||||
500
|
Puerto Rico, General Obligation and Public Improvement Bonds, Series 2002A, 5.500%, 7/01/29 – FGIC Insured
|
No Opt. Call
|
Baa1
|
531,110
|
|||||
1,280
|
Quincy, Massachusetts, General Obligation Bonds, Series 2011, 5.125%, 12/01/33
|
12/20 at 100.00
|
Aa2
|
1,375,846
|
|||||
4,030
|
Total Tax Obligation/General
|
4,362,101
|
|||||||
Tax Obligation/Limited – 10.7% (7.1% of Total Investments)
|
|||||||||
395
|
Martha’s Vineyard Land Bank, Massachusetts, Revenue Bonds, Series 2004, 5.000%, 5/01/26 – AMBAC Insured
|
5/14 at 100.00
|
A–
|
416,054
|
|||||
385
|
Massachusetts Bay Transportation Authority, Senior Lien Sales Tax Revenue Refunding Bonds, Series 2004C, 5.250%, 7/01/21
|
No Opt. Call
|
AAA
|
480,137
|
|||||
250
|
Massachusetts College Building Authority, Project Revenue Bonds, Series 2006A, 5.000%, 5/01/31 – AMBAC Insured
|
5/16 at 100.00
|
Aa2
|
260,388
|
|||||
550
|
Massachusetts College Building Authority, Project Revenue Bonds, Series 2008A, 5.000%, 5/01/33 – AGC Insured
|
5/18 at 100.00
|
Aa2
|
572,160
|
|||||
500
|
Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Series 2005A, 5.000%, 8/15/20 – AGM Insured (UB)
|
8/15 at 100.00
|
AA+
|
559,370
|
|||||
230
|
Massachusetts State, Special Obligation Dedicated Tax Revenue Bonds, Series 2005, 5.000%, 1/01/20 – FGIC Insured
|
No Opt. Call
|
A1
|
264,318
|
|||||
455
|
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Series 1999A, 6.375%, 10/01/19
|
4/12 at 100.00
|
BBB+
|
455,960
|
|||||
2,765
|
Total Tax Obligation/Limited
|
3,008,387
|
|||||||
Transportation – 4.2% (2.8% of Total Investments)
|
|||||||||
500
|
Massachusetts Port Authority, Airport System Revenue Bonds, Series 2010A, 5.000%, 7/01/30
|
7/20 at 100.00
|
AA–
|
534,705
|
|||||
400
|
Massachusetts Port Authority, Special Facilities Revenue Bonds, BOSFUEL Corporation, Series 2007, 5.000%, 7/01/32 – FGIC Insured (Alternative Minimum Tax)
|
7/17 at 100.00
|
A3
|
396,684
|
|||||
260
|
Metropolitan Boston Transit Parking Corporation, Massachusetts, Systemwide Parking Revenue Bonds, Senior Lien Series 2011, 5.000%, 7/01/41
|
7/21 at 100.00
|
A+
|
264,246
|
|||||
1,160
|
Total Transportation
|
1,195,635
|
|||||||
U.S. Guaranteed – 6.0% (4.0% of Total Investments) (7)
|
|||||||||
230
|
Massachusetts College Building Authority, Project Revenue Bonds, Series 2004A, 5.000%, 5/01/19 (Pre-refunded 5/01/14) – NPFG Insured
|
5/14 at 100.00
|
Aa2 (7)
|
254,088
|
|||||
500
|
Massachusetts Development Finance Authority, Revenue Bonds, Milton Academy, Series 2003A, 5.000%, 9/01/19 (Pre-refunded 9/01/13)
|
9/13 at 100.00
|
AA– (7)
|
539,130
|
|||||
80
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Covenant Health Systems Obligated Group, Series 2002, 6.000%, 7/01/31 (Pre-refunded 1/01/12)
|
1/12 at 101.00
|
A (7)
|
81,200
|
|||||
750
|
Massachusetts State, Special Obligation Dedicated Tax Revenue Bonds, Series 2004, 5.250%, 1/01/25 (Pre-refunded 1/01/14) – FGIC Insured
|
1/14 at 100.00
|
A1 (7)
|
820,628
|
|||||
1,560
|
Total U.S. Guaranteed
|
1,695,046
|
|||||||
Utilities – 5.6% (3.7% of Total Investments)
|
|||||||||
1,070
|
Massachusetts Development Finance Agency, Resource Recovery Revenue Bonds, SEMass System, Series 2001A, 5.625%, 1/01/14 – NPFG Insured
|
1/12 at 101.00
|
Baa1
|
1,082,926
|
|||||
500
|
Massachusetts Industrial Finance Agency, Resource Recovery Revenue Refunding Bonds, Ogden Haverhill Project, Series 1998A, 5.600%, 12/01/19 (Alternative Minimum Tax)
|
6/12 at 100.00
|
A–
|
501,585
|
|||||
1,570
|
Total Utilities
|
1,584,511
|
Nuveen Investments
|
|
53 |
Nuveen Massachusetts Dividend Advantage Municipal Fund (continued)
|
||
NMB
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited) |
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Water and Sewer – 8.5% (5.6% of Total Investments)
|
|||||||||
$
|
530
|
Boston Water and Sewerage Commission, Massachusetts, General Revenue Bonds, Senior Series 2004A, 5.000%, 11/01/25
|
11/14 at 100.00
|
AA+
|
$
|
585,109
|
|||
125
|
Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2005, 6.000%, 7/01/25
|
7/15 at 100.00
|
Ba2
|
126,799
|
|||||
500
|
Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Series 2005-11, 4.500%, 8/01/29
|
8/15 at 100.00
|
AAA
|
516,445
|
|||||
400
|
Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Series 2006-12, 4.375%, 8/01/31 (UB)
|
8/16 at 100.00
|
AAA
|
411,204
|
|||||
500
|
Massachusetts Water Pollution Abatement Trust, Revenue Bonds, MWRA Loan Program, Series 2002A, 5.250%, 8/01/20
|
8/12 at 100.00
|
AAA
|
515,755
|
|||||
250
|
Massachusetts Water Resources Authority, General Revenue Bonds, Series 2006A, 4.000%, 8/01/46
|
8/16 at 100.00
|
AA+
|
230,950
|
|||||
2,305
|
Total Water and Sewer
|
2,386,262
|
|||||||
$
|
41,960
|
Total Investments (cost $41,955,116) – 150.4%
|
42,430,269
|
||||||
Floating Rate Obligations – (2.0)%
|
(560,000
|
) | |||||||
MuniFund Term Preferred Shares, at Liquidation Value – (52.2)% (8)
|
(14,725,000
|
) | |||||||
Other Assets Less Liabilities – 3.8%
|
1,077,399
|
||||||||
Net Assets Applicable to Common Shares – 100%
|
$
|
28,222,668
|
(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)
|
At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing security, in the case of a bond, 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.
|
|
(5)
|
For fair value measurement disclosure purposes, investment categorized as Level 3. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Investment Valuation for more information.
|
|
(6)
|
Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board of Trustees.
|
|
(7)
|
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.
|
|
(8)
|
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investment is 34.7%.
|
|
N/R
|
Not rated.
|
|
(IF)
|
Inverse floating rate investment.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Inverse Floating Rate Securities for more information.
|
54 |
|
Nuveen Investments
|
Nuveen Insured Massachusetts Tax-Free Advantage Municipal Fund
|
||
NGX
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited)
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Education and Civic Organizations – 27.9% (18.2% of Total Investments)
|
|||||||||
$
|
600
|
Massachusetts Development Finance Agency Revenue Bonds, Lesley University Issue Series B-1 and B-2, 5.250%, 7/01/33 – AGM Insured
|
7/21 at 100.00
|
AA–
|
$
|
632,076
|
|||
1,135
|
Massachusetts Development Finance Agency, Revenue Bonds, Boston University, Series 2005T-1, 5.000%, 10/01/39 – AMBAC Insured
|
10/15 at 100.00
|
A
|
1,138,655
|
|||||
600
|
Massachusetts Development Finance Agency, Revenue Bonds, Worcester Polytechnic Institute, Series 2007, 5.000%, 9/01/37 – NPFG Insured
|
9/17 at 100.00
|
A+
|
612,726
|
|||||
1,250
|
Massachusetts Development Finance Authority, Revenue Bonds, Middlesex School, Series 2003, 5.000%, 9/01/33
|
9/13 at 100.00
|
A1
|
1,260,225
|
|||||
1,000
|
Massachusetts Development Finance Authority, Revenue Bonds, WGBH Educational Foundation, Series 2002A, 5.750%, 1/01/42 – AMBAC Insured
|
No Opt. Call
|
A
|
1,096,930
|
|||||
3,000
|
Massachusetts Development Finance Authority, Revenue Bonds, WGBH Educational Foundation, Series 2008A, 5.000%, 1/01/42 – AGC Insured
|
1/18 at 100.00
|
AA–
|
3,044,670
|
|||||
1,750
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Boston College, Series 2003N, 5.125%, 6/01/37
|
6/13 at 100.00
|
AA–
|
1,773,310
|
|||||
1,500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Worcester State College, Series 2002, 5.000%, 11/01/32 – AMBAC Insured
|
11/12 at 100.00
|
A2
|
1,506,555
|
|||||
10,835
|
Total Education and Civic Organizations
|
11,065,147
|
|||||||
Health Care – 11.1% (7.2% of Total Investments)
|
|||||||||
500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Cape Cod Healthcare Obligated Group, Series 2004D, 5.125%, 11/15/35 – AGC Insured
|
11/19 at 100.00
|
AA–
|
508,480
|
|||||
335
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc., Series 1998A, 5.000%, 7/01/25 – NPFG Insured
|
1/12 at 100.00
|
A–
|
335,034
|
|||||
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Caregroup Inc., Series B1 Capital Asset Program Converted June 13,2008:
|
|||||||||
450
|
5.375%, 2/01/26 – NPFG Insured
|
8/18 at 100.00
|
A–
|
466,799
|
|||||
600
|
5.375%, 2/01/27 – NPFG Insured
|
8/18 at 100.00
|
A–
|
617,550
|
|||||
1,500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Caregroup Inc., Series B2, Capital Asset Program, Converted June 9, 2009, 5.375%, 2/01/28 – NPFG Insured
|
8/18 at 100.00
|
A–
|
1,540,440
|
|||||
585
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Milford Regional Medical Center, Series 2007E, 5.000%, 7/15/32
|
7/17 at 100.00
|
BBB–
|
520,381
|
|||||
200
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Milton Hospital Project, Series 2005D, 5.250%, 7/01/30
|
7/15 at 100.00
|
BB–
|
169,046
|
|||||
250
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, UMass Memorial Health Care, Series 2005D, 5.000%, 7/01/33
|
7/15 at 100.00
|
A–
|
234,758
|
|||||
4,420
|
Total Health Care
|
4,392,488
|
|||||||
Housing/Multifamily – 11.5% (7.5% of Total Investments)
|
|||||||||
500
|
Boston Housing Authority, Massachusetts, Capital Program Revenue Bonds, Series 2008, 5.000%, 4/01/20 – AGM Insured
|
4/18 at 100.00
|
AA–
|
552,220
|
|||||
750
|
Massachusetts Development Finance Authority, Multifamily Housing Revenue Bonds, Emerson Manor Project, Series 2007, 4.800%, 7/20/48
|
7/17 at 100.00
|
BB
|
747,645
|
|||||
2,000
|
Massachusetts Housing Finance Agency, Housing Bonds, Series 2003H, 5.125%, 6/01/43
|
12/12 at 100.00
|
AA–
|
2,005,320
|
|||||
1,265
|
Massachusetts Housing Finance Agency, Rental Housing Mortgage Revenue Bonds, Series 2002H, 5.200%, 7/01/42 – AGM Insured
|
7/12 at 100.00
|
AA–
|
1,267,631
|
|||||
4,515
|
Total Housing/Multifamily
|
4,572,816
|
|||||||
Industrials – 7.5% (4.9% of Total Investments)
|
|||||||||
Massachusetts Development Finance Authority, Revenue Bonds, 100 Cambridge Street Redevelopment, M/SRBC Project, Series 2002A:
|
|||||||||
1,475
|
5.125%, 8/01/28 – NPFG Insured
|
2/12 at 100.00
|
Baa1
|
1,474,838
|
|||||
1,500
|
5.125%, 2/01/34 – NPFG Insured
|
2/12 at 100.00
|
Baa1
|
1,499,865
|
|||||
2,975
|
Total Industrials
|
2,974,703
|
Nuveen Investments
|
55
|
Nuveen Insured Massachusetts Tax-Free Advantage Municipal Fund (continued)
|
||
NGX
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited) |
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Long-Term Care – 4.7% (3.1% of Total Investments)
|
|||||||||
$
|
1,750
|
Massachusetts Development Finance Authority, GNMA Collateralized Revenue Bonds, Neville Communities, Series 2002A, 6.000%, 6/20/44
|
12/12 at 105.00
|
AA+
|
$
|
1,867,880
|
|||
Tax Obligation/General – 12.9% (8.4% of Total Investments)
|
|||||||||
1,280
|
Littleton, Massachusetts, General Obligation Bonds, Series 2003, 5.000%,
|
1/13 at 101.00
|
AA
|
1,340,006
|
|||||
1/15/21 – FGIC Insured | |||||||||
1,500
|
Massachusetts, General Obligation Bonds, Consolidated Loan, Series 2004B, 5.250%, 8/01/21 – AGM Insured
|
No Opt. Call
|
AA+
|
1,873,800
|
|||||
1,705
|
North Attleborough, Massachusetts, General Obligation Bonds, Series 2004, 5.000%, 7/15/15 – FGIC Insured
|
7/14 at 101.00
|
Aa2
|
1,901,109
|
|||||
4,485
|
Total Tax Obligation/General
|
5,114,915
|
|||||||
Tax Obligation/Limited – 10.6% (6.9% of Total Investments)
|
|||||||||
3,000
|
Martha’s Vineyard Land Bank, Massachusetts, Revenue Bonds, Series 2002, 5.000%, 5/01/32 – AMBAC Insured
|
5/13 at 100.00
|
A–
|
3,078,480
|
|||||
750
|
Massachusetts College Building Authority, Project Revenue Bonds, Series 2008A, 5.000%, 5/01/33 – AGC Insured
|
5/18 at 100.00
|
Aa2
|
780,218
|
|||||
300
|
Massachusetts State, Special Obligation Dedicated Tax Revenue Bonds, Series 2005, 5.000%, 1/01/20 – FGIC Insured
|
No Opt. Call
|
A1
|
344,763
|
|||||
4,050
|
Total Tax Obligation/Limited
|
4,203,461
|
|||||||
Transportation – 2.5% (1.7% of Total Investments)
|
|||||||||
1,000
|
Massachusetts Port Authority, Revenue Bonds, Series 2003A, 5.000%, 7/01/33 – NPFG Insured
|
7/13 at 100.00
|
AA–
|
1,010,660
|
|||||
U.S. Guaranteed – 42.1% (27.5% of Total Investments) (4)
|
|||||||||
2,000
|
Massachusetts Bay Transportation Authority, Sales Tax Revenue Bonds, Senior Lien Series 2002A, 5.000%, 7/01/27 (Pre-refunded 7/01/12) – FGIC Insured
|
7/12 at 100.00
|
AAA
|
2,055,900
|
|||||
2,790
|
Massachusetts College Building Authority, Project Revenue Refunding Bonds, Series 2003A, 5.250%, 5/01/22 (Pre-refunded 5/01/13) – SYNCORA GTY Insured
|
5/13 at 100.00
|
Aa2 (4)
|
2,979,636
|
|||||
500
|
Massachusetts Development Finance Authority, Revenue Bonds, Massachusetts College of Pharmacy and Allied Health Sciences, Series 2003C, 6.375%, 7/01/23 (Pre-refunded 7/01/13)
|
7/13 at 101.00
|
A (4)
|
551,520
|
|||||
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, New England Medical Center Hospitals, Series 2002H:
|
|||||||||
100
|
5.000%, 5/15/25 (Pre-refunded 5/15/12) – FGIC Insured
|
5/12 at 100.00
|
N/R (4)
|
102,194
|
|||||
2,400
|
5.000%, 5/15/25 (Pre-refunded 5/15/12) – FGIC Insured
|
5/12 at 100.00
|
N/R (4)
|
2,452,656
|
|||||
295
|
Massachusetts Port Authority, Revenue Bonds, Series 1982, 13.000%, 7/01/13 (ETM)
|
1/12 at 100.00
|
AAA
|
333,318
|
|||||
1,000
|
Massachusetts State, Special Obligation Dedicated Tax Revenue Bonds, Series 2004, 5.250%, 1/01/21 (Pre-refunded 1/01/14) – FGIC Insured
|
1/14 at 100.00
|
A1 (4)
|
1,094,170
|
|||||
1,500
|
Pittsfield, Massachusetts, General Obligation Bonds, Series 2002, 5.000%, 4/15/18 (Pre-refunded 4/15/12) – NPFG Insured
|
4/12 at 101.00
|
AA (4)
|
1,541,400
|
|||||
3,000
|
Springfield, Massachusetts, General Obligation Bonds, Series 2003, 5.250%, 1/15/22 (Pre-refunded 1/15/13) – NPFG Insured
|
1/13 at 100.00
|
AA (4)
|
3,166,288
|
|||||
2,140
|
University of Massachusetts Building Authority, Senior Lien Project Revenue Bonds, Series 2004-1, 5.375%, 11/01/21 (Pre-refunded 11/01/14) – AMBAC Insured
|
11/14 at 100.00
|
AA– (4)
|
2,428,921
|
|||||
15,725
|
Total U.S. Guaranteed
|
16,706,003
|
|||||||
Utilities – 3.1% (2.1% of Total Investments)
|
|||||||||
1,210
|
Guam Power Authority, Revenue Bonds, Series 2010A, 5.000%, 10/01/37 – AGM Insured
|
10/20 at 100.00
|
AA–
|
1,243,420
|
|||||
Water and Sewer – 19.2% (12.5% of Total Investments)
|
|||||||||
1,900
|
Lynn Water and Sewer Commission, Massachusetts, General Revenue Bonds, Series 2003A, 5.000%, 12/01/32 – NPFG Insured
|
12/13 at 100.00
|
A1
|
1,919,266
|
|||||
600
|
Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Series 2006-12, 4.375%, 8/01/31 (UB)
|
8/16 at 100.00
|
AAA
|
616,806
|
|||||
56 |
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Water and Sewer (continued)
|
|||||||||
$
|
1,000
|
Massachusetts Water Resources Authority, General Revenue Bonds, Series 2002J, 5.250%, 8/01/19 – AGM Insured
|
No Opt. Call
|
AA+
|
$
|
1,231,910
|
|||
1,000
|
Massachusetts Water Resources Authority, General Revenue Bonds, Series 2004D, 5.000%, 8/01/24 – NPFG Insured
|
8/13 at 100.00
|
AA+
|
1,058,920
|
|||||
Massachusetts Water Resources Authority, General Revenue Bonds, Series 2006A:
|
|||||||||
1,500
|
5.000%, 8/01/31 – AMBAC Insured
|
8/16 at 100.00
|
AA+
|
1,583,175
|
|||||
125
|
4.000%, 8/01/46
|
8/16 at 100.00
|
AA+
|
115,475
|
|||||
500
|
Springfield Water and Sewerage Commission, Massachusetts, General Revenue Bonds, Refunding Series 2010B, 5.000%, 11/15/30 – AGC Insured
|
No Opt. Call
|
AA–
|
544,990
|
|||||
495
|
Springfield Water and Sewerage Commission, Massachusetts, General Revenue Bonds, Series 2003A, 5.000%, 7/01/16 – NPFG Insured
|
7/14 at 100.00
|
A+
|
536,808
|
|||||
7,120
|
Total Water and Sewer
|
7,607,350
|
|||||||
$
|
58,085
|
Total Investments (cost $58,719,651) – 153.1%
|
60,758,843
|
||||||
Floating Rate Obligations – (0.9)%
|
(340,000
|
) | |||||||
MuniFund Term Preferred Shares, at Liquidation Value – (55.6)% (5)
|
(22,075,000
|
) | |||||||
Other Assets Less Liabilities – 3.4%
|
1,334,773
|
||||||||
Net Assets Applicable to Common Shares – 100%
|
$
|
39,678,616
|
The Fund intends to invest at least 80% of its managed assets in municipal securities that are covered by insurance guaranteeing the timely payment of principal and interest. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Insurance, for more information.
|
||
(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)
|
MuniFund Term Preferred Shares, at Liquidation Value as a percentage or Total Investments is 36.3%.
|
|
N/R
|
Not rated.
|
|
(ETM)
|
Escrowed to maturity.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Inverse Floating Rate Securities for more information.
|
Nuveen Investments
|
|
57 |
Nuveen Missouri Premium Income Municipal Fund
|
||
NOM
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited)
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Consumer Staples – 3.4% (2.2% of Total Investments)
|
|||||||||
$
|
1,000
|
Missouri Development Finance Board, Solid Waste Disposal Revenue Bonds, Procter and Gamble Inc., Series 1999, 5.200%, 3/15/29 (Alternative Minimum Tax)
|
No Opt. Call
|
AA–
|
$
|
1,101,850
|
|||
Education and Civic Organizations – 9.0% (5.6% of Total Investments)
|
|||||||||
250
|
Lincoln University, Missouri, Auxillary System Revenue Bonds, Series 2007, 5.125%, 6/01/37 – AGC Insured
|
6/17 at 100.00
|
AA–
|
254,190
|
|||||
630
|
Missouri Health and Educational Facilities Authority, Revenue Bonds, A.T. Still University of Health Sciences, Series 2011, 5.250%, 10/01/41
|
10/21 at 100.00
|
A–
|
636,464
|
|||||
700
|
Missouri Health and Educational Facilities Authority, Revenue Bonds, Rockhurst University, Series 2011A, 6.500%, 10/01/35
|
10/18 at 103.00
|
BBB
|
743,274
|
|||||
550
|
Missouri Health and Educational Facilities Authority, Revenue Bonds, Washington University, Series 2011B, 5.000%, 11/15/37
|
11/21 at 100.00
|
AAA
|
610,308
|
|||||
600
|
Missouri Health and Educational Facilities Authority, Revenue Bonds, Webster University, Series 2011, 5.000%, 4/01/36
|
4/21 at 100.00
|
A2
|
623,790
|
|||||
2,730
|
Total Education and Civic Organizations
|
2,868,026
|
|||||||
Health Care – 33.2% (20.7% of Total Investments)
|
|||||||||
485
|
Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Saint Francis Medical Center, Series 2009A, 5.750%, 6/01/39
|
6/19 at 100.00
|
AA–
|
505,525
|
|||||
760
|
Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Southeast Missouri Hospital Association, Series 2007, 5.000%, 6/01/27
|
6/17 at 100.00
|
BBB+
|
738,051
|
|||||
930
|
Cass County, Missouri, Hospital Revenue Bonds, Series 2007, 5.625%, 5/01/38
|
11/16 at 100.00
|
BBB+
|
852,996
|
|||||
480
|
Clinton County Industrial Development Authority, Missouri, Revenue Bonds, Cameron Regional Medical Center, Series 2007, 5.000%, 12/01/37
|
12/17 at 100.00
|
N/R
|
379,171
|
|||||
750
|
Joplin Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Freeman Health System, Series 2004, 5.500%, 2/15/29
|
2/15 at 102.00
|
BBB+
|
747,870
|
|||||
540
|
Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, Capital Region Medical Center, Series 2011, 5.000%, 11/01/27
|
11/20 at 100.00
|
A3
|
550,292
|
|||||
500
|
Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, St. Luke’s Episcopal and Presbyterian Hospitals, Series 2011, 5.000%, 12/01/25
|
12/21 at 100.00
|
A+
|
526,505
|
|||||
2,000
|
Missouri Health and Educational Facilities Authority, Health Facility Revenue Bonds, St. Luke’s Health System, Series 2010A, 5.000%, 11/15/30
|
11/20 at 100.00
|
A+
|
2,052,977
|
|||||
Missouri Health and Educational Facilities Authority, Revenue Bonds, BJC Health System, Series 2003:
|
|||||||||
1,500
|
5.125%, 5/15/25
|
5/13 at 100.00
|
AA
|
1,563,555
|
|||||
1,155
|
5.250%, 5/15/32
|
5/13 at 100.00
|
AA
|
1,166,666
|
|||||
500
|
Missouri Health and Educational Facilities Authority, Revenue Bonds, Lake Regional Health System, Series 2003, 5.700%, 2/15/34
|
2/14 at 100.00
|
BBB+
|
506,930
|
|||||
720
|
Saline County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, John Fitzgibbon Memorial Hospital Inc., Series 2010, 5.600%, 12/01/28
|
12/20 at 100.00
|
BBB–
|
693,648
|
|||||
350
|
St. Louis County Industrial Development Authority, Missouri, Healthcare Facilities Revenue Bonds, Ranken-Jordan Project, Refunding Series 2007, 5.000%, 11/15/27
|
11/16 at 100.00
|
N/R
|
300,003
|
|||||
10,670
|
Total Health Care
|
10,584,189
|
|||||||
Housing/Multifamily – 3.3% (2.0% of Total Investments)
|
|||||||||
375
|
Jefferson County Industrial Development Authority, Missouri, Multifamily Housing Revenue Bonds, Lakewood Apartments Project, Series 2001B, 5.750%, 11/01/34 (Mandatory put 11/01/16) (Alternative Minimum Tax)
|
6/12 at 100.00
|
N/R
|
375,401
|
|||||
165
|
Missouri Housing Development Commission, Multifamily Housing Revenue Bonds, Series 2001II, 5.250%, 12/01/16
|
6/12 at 100.00
|
AA
|
165,370
|
|||||
500
|
St. Charles County Industrial Development Authority, Missouri, FHA-Insured Multifamily Housing Revenue Bonds, Ashwood Apartments, Series 1998A, 5.600%, 4/01/30 – AGM Insured (Alternative Minimum Tax)
|
4/12 at 100.00
|
Aaa
|
500,230
|
|||||
1,040
|
Total Housing/Multifamily
|
1,041,001
|
58 |
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Housing/Single Family – 3.0% (1.9% of Total Investments)
|
|||||||||
$
|
350
|
Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, Homeownership Loan Program, Series 2007A-1, 4.700%, 9/01/27 (Alternative Minimum Tax)
|
9/16 at 100.00
|
AA+
|
$
|
350,641
|
|||
615
|
Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, Homeownership Loan Program, Series 2007C-1, 4.800%, 9/01/38 (Alternative Minimum Tax)
|
3/17 at 100.00
|
AA+
|
602,700
|
|||||
965
|
Total Housing/Single Family
|
953,341
|
|||||||
Long-Term Care – 10.3% (6.4% of Total Investments)
|
|||||||||
1,750
|
Cole County Industrial Development Authority, Missouri, Revenue Bonds, Lutheran Senior Services – Heisinger Project, Series 2004, 5.500%, 2/01/35
|
2/14 at 100.00
|
BBB+
|
1,678,023
|
|||||
500
|
Joplin Industrial Development Authority, Missouri, Revenue Bonds, Christian Homes Inc., Series 2007F, 5.750%, 5/15/31
|
5/17 at 100.00
|
BBB–
|
465,155
|
|||||
475
|
Lees Summit Industrial Development Authority, Missouri, Revenue Bonds, John Knox Village Obligated Group, Series 2007A, 5.125%, 8/15/32
|
8/17 at 100.00
|
BBB–
|
434,725
|
|||||
250
|
Missouri Health and Educational Facilities Authority, Revenue Bonds, Lutheran Senior Services Projects, Series 2011, 6.000%, 2/01/41
|
2/21 at 100.00
|
BBB+
|
251,113
|
|||||
500
|
St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Friendship Village of West County, Series 2007A, 5.500%, 9/01/28
|
9/17 at 100.00
|
BBB
|
475,530
|
|||||
3,475
|
Total Long-Term Care
|
3,304,546
|
|||||||
Materials – 2.1% (1.3% of Total Investments)
|
|||||||||
750
|
Sugar Creek, Missouri, Industrial Development Revenue Bonds, Lafarge North America Inc., Series 2003A, 5.650%, 6/01/37 (Alternative Minimum Tax)
|
6/13 at 101.00
|
BB+
|
661,230
|
|||||
Tax Obligation/General – 20.7% (12.9% of Total Investments)
|
|||||||||
1,500
|
Camdenton Reorganized School District R3, Camden County, Missouri, General Obligation Bonds, Series 2005, 5.250%, 3/01/24 – AGM Insured
|
No Opt. Call
|
AA–
|
1,657,680
|
|||||
1,685
|
Independence School District, Jackson County, Missouri, General Obligation Bonds, Series 2010, 5.000%, 3/01/27
|
3/20 at 100.00
|
AA+
|
1,883,291
|
|||||
500
|
Jackson County School District R-7, Lees Summit, Missouri, General Obligation Refunding and Improvement Bonds, Series 2002, 5.250%, 3/01/18 – AGM Insured
|
3/12 at 100.00
|
AA+
|
505,635
|
|||||
500
|
Missouri School Boards Association, Lease Participation Certificates, Clay County School District 53 Liberty, Series 2007, 5.250%, 3/01/27 – AGM Insured
|
3/17 at 100.00
|
AA–
|
536,535
|
|||||
1,000
|
Puerto Rico, General Obligation and Public Improvement Bonds, Series 2002A, 5.500%, 7/01/20 – NPFG Insured
|
No Opt. Call
|
Baa1
|
1,087,600
|
|||||
900
|
Ritenour Consolidated School District, St. Louis County, Missouri, General Obligation Bonds, Series 1995, 7.375%, 2/01/12 – FGIC Insured
|
No Opt. Call
|
Aa2
|
909,972
|
|||||
20
|
St. Louis County Pattonville School District R3, Missouri, General Obligation Bonds, Series 2004, 5.250%, 3/01/20 – AGM Insured
|
3/14 at 100.00
|
AA
|
21,606
|
|||||
6,105
|
Total Tax Obligation/General
|
6,602,319
|
|||||||
Tax Obligation/Limited – 28.8% (17.9% of Total Investments)
|
|||||||||
600
|
Chesterfield, Missouri, Certificates of Participation, Series 2005, 5.000%, 12/01/24 – FGIC Insured
|
12/15 at 100.00
|
Aa1
|
627,888
|
|||||
80
|
Cottleville, Missouri, Certificates of Participation, Series 2006, 5.250%, 8/01/31
|
8/14 at 100.00
|
N/R
|
78,980
|
|||||
240
|
Fenton, Missouri, Tax Increment Revenue Bonds, Gravois Bluffs Redevelopment Project, Series 2006, 4.500%, 4/01/21
|
4/14 at 100.00
|
BBB+
|
244,572
|
|||||
315
|
Fulton, Missouri, Tax Increment Revenue Bonds, Fulton Commons Redevelopment Project, Series 2006, 5.000%, 6/01/28
|
6/16 at 100.00
|
N/R
|
237,976
|
|||||
475
|
Jackson County, Missouri, Special Obligation Bonds, Truman Medical Center Project, Series 2011B, 4.350%, 12/01/23
|
12/21 at 100.00
|
Aa3
|
496,893
|
|||||
300
|
Kansas City Industrial Development Authority, Missouri, Downtown Redevelopment District Revenue Bonds, Series 2011A, 5.000%, 9/01/32
|
9/21 at 100.00
|
AA–
|
306,366
|
|||||
475
|
Kansas City Tax Increment Financing Commission, Missouri, Tax Increment Revenue Bonds, Briarcliff West Project, Series 2006A, 5.400%, 6/01/24
|
6/14 at 102.00
|
N/R
|
424,750
|
|||||
100
|
Kansas City Tax Increment Financing Commission, Missouri, Tax Increment Revenue Bonds, Shoal Creek Parkway Project, Series 2011, 5.000%, 6/01/21
|
6/16 at 100.00
|
N/R
|
101,569
|
Nuveen Investments
|
|
59 |
Nuveen Missouri Premium Income Municipal Fund (continued)
|
||
NOM
|
Portfolio of Investments
|
|
November 30, 2011 (Unaudited) |
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Tax Obligation/Limited (continued)
|
|||||||||
$
|
360
|
Missouri Development Finance Board, Infrastructure Facilities Revenue Bonds, Branson Landing Project, Series 2005A, 5.000%, 6/01/35
|
6/15 at 100.00
|
A
|
$
|
362,585
|
|||
415
|
Missouri Development Finance Board, Infrastructure Facilities Revenue Bonds, City of Independence, Crackerneck Creek Project, Series 2006C, 5.000%, 3/01/28
|
3/16 at 100.00
|
A–
|
406,156
|
|||||
450
|
Monarch-Chesterfield Levee District, St. Louis County, Missouri, Levee District Improvement Bonds, Series 1999, 5.750%, 3/01/19 – NPFG Insured
|
3/12 at 100.00
|
A
|
451,602
|
|||||
500
|
Osage Beach, Missouri, Tax Increment Revenue Bonds, Prewitts Point Transportation Development District, Series 2006, 5.000%, 5/01/23
|
5/12 at 102.00
|
N/R
|
424,685
|
|||||
1,750
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 6.000%, 8/01/42
|
8/19 at 100.00
|
A+
|
1,892,030
|
|||||
1,500
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%, 8/01/41 – NPFG Insured
|
No Opt. Call
|
Aa2
|
233,730
|
|||||
600
|
Riverside, Missouri, L-385 Levee Redevelopment Plan Tax Increment Revenue Bonds, Series 2004, 5.250%, 5/01/20
|
5/15 at 100.00
|
A
|
622,176
|
|||||
1,395
|
Springfield Public Building Corporation, Missouri, Lease Revenue Bonds, Jordan Valley Park Projects, Series 2000A, 6.125%, 6/01/21 – AMBAC Insured
|
6/12 at 100.00
|
N/R
|
1,395,000
|
|||||
St. Joseph Industrial Development Authority, Missouri, Tax Increment Bonds, Shoppes at North Village Project, Series 2005A:
|
|||||||||
340
|
5.375%, 11/01/24
|
11/14 at 100.00
|
N/R
|
320,773
|
|||||
400
|
5.500%, 11/01/27
|
11/14 at 100.00
|
N/R
|
369,996
|
|||||
200
|
St. Joseph Industrial Development Authority, Missouri, Tax Increment Bonds, Shoppes at North Village Project, Series 2005B, 5.500%, 11/01/27
|
11/14 at 100.00
|
N/R
|
182,180
|
|||||
10,495
|
Total Tax Obligation/Limited
|
9,179,907
|
|||||||
Transportation – 16.6% (10.3% of Total Investments)
|
|||||||||
500
|
Kansas City, Missouri, Passenger Facility Charge Revenue Bonds, Kansas City International Airport, Series 2001, 5.000%, 4/01/23 – AMBAC Insured (Alternative Minimum Tax)
|
4/12 at 100.50
|
A
|
505,300
|
|||||
1,000
|
St. Louis Land Clearance Redevelopment Authority, Missouri, Revenue Refunding and Improvement Bonds, LCRA Parking Facilities, Series 1999C, 7.000%, 9/01/19
|
3/12 at 100.00
|
N/R
|
1,000,090
|
|||||
1,000
|
St. Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series 2005, 5.500%, 7/01/18 – NPFG Insured
|
No Opt. Call
|
A–
|
1,132,410
|
|||||
2,500
|
St. Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series 2007A, 5.000%, 7/01/21 – AGM Insured
|
7/17 at 100.00
|
AA–
|
2,660,625
|
|||||
5,000
|
Total Transportation
|
5,298,425
|
|||||||
U.S. Guaranteed – 13.9% (8.7% of Total Investments) (4)
|
|||||||||
685
|
Fenton, Missouri, Tax Increment Refunding and Improvement Revenue Bonds, Gravois Bluffs Redevelopment Project, Series 2002, 6.125%, 10/01/21 (Pre-refunded 10/01/12)
|
10/12 at 100.00
|
AAA
|
718,620
|
|||||
1,630
|
North Kansas City School District, Missouri, General Obligation Bonds, Series 2003A, 5.000%, 3/01/23 (Pre-refunded 3/01/13)
|
3/13 at 100.00
|
AA+ (4)
|
1,724,980
|
|||||
St. Louis County Pattonville School District R3, Missouri, General Obligation Bonds, Series 2004:
|
|||||||||
80
|
5.250%, 3/01/20 (Pre-refunded 3/01/14) – AGM Insured
|
3/14 at 100.00
|
AA (4)
|
88,467
|
|||||
250
|
5.250%, 3/01/20 (Pre-refunded 3/01/14) – AGM Insured
|
3/14 at 100.00
|
AA– (4)
|
276,460
|
|||||
500
|
St. Louis County, Missouri, GNMA Collateralized Mortgage Revenue Bonds, Series 1993D, 5.650%, 7/01/20 (Alternative Minimum Tax) (ETM)
|
No Opt. Call
|
AA+ (4)
|
614,505
|
|||||
1,000
|
St. Louis Municipal Finance Corporation, Missouri, Leasehold Revenue Bonds, Carnahan Courthouse, Series 2002A, 5.750%, 2/15/16 (Pre-refunded 2/15/12) – FGIC Insured
|
2/12 at 100.00
|
N/R (4)
|
1,011,600
|
|||||
4,145
|
Total U.S. Guaranteed
|
4,434,632
|
|||||||
Utilities – 3.6% (2.2% of Total Investments)
|
|||||||||
100
|
Missouri Joint Municipal Electric Utility Commission, Iatan 2 Power Project Revenue Bonds, Series 2006A, 4.125%, 1/01/21 – AMBAC Insured
|
1/16 at 100.00
|
A3
|
103,650
|
|||||
500
|
Missouri Joint Municipal Electric Utility Commission, Plum Point Project, Revenue Bonds, Series 2006, 5.000%, 1/01/34 – NPFG Insured
|
1/16 at 100.00
|
A–
|
502,635
|
|||||
530
|
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2010XX, 5.250%, 7/01/40
|
7/20 at 100.00
|
A3
|
531,972
|
|||||
1,130
|
Total Utilities
|
1,138,257
|
60 |
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Water and Sewer – 12.7% (7.9% of Total Investments)
|
|||||||||
$
|
600
|
Carroll County Public Water Supply District 1, Missouri, Water System Revenue Bonds, Refunding Series 2009, 6.000%, 3/01/39
|
3/18 at 100.00
|
A
|
$
|
644,304
|
|||
200
|
Metropolitan St. Louis Sewerage District, Missouri, Wastewater System Revenue Bonds, Series 2006C, 5.000%, 5/01/36 – NPFG Insured
|
5/17 at 100.00
|
AAA
|
208,612
|
|||||
2,965
|
Missouri Environmental Improvement and Energy Resources Authority, Water Facility Revenue Bonds, Missouri-American Water Company, Series 2006, 4.600%, 12/01/36 – AMBAC Insured (Alternative Minimum Tax) (UB)
|
12/16 at 100.00
|
AA+
|
2,859,535
|
|||||
350
|
Missouri Environmental Improvement and Energy Resources Authority, Water Pollution Control Revenue Bonds, State Revolving Fund Program – Kansas City Project, Series 1997C, 6.750%, 1/01/12
|
No Opt. Call
|
Aaa
|
351,929
|
|||||
4,115
|
Total Water and Sewer
|
4,064,380
|
|||||||
$
|
51,620
|
Total Investments (cost $50,621,766) – 160.6%
|
51,232,103
|
||||||
Floating Rate Obligations – (7.0)%
|
(2,225,000
|
) | |||||||
MuniFund Term Preferred Shares, at Liquidation Value – (56.0)% (5)
|
(17,880,000
|
) | |||||||
Other Assets Less Liabilities – 2.4%
|
778,214
|
||||||||
Net Assets Applicable to Common Shares – 100%
|
$
|
31,905,317
|
(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)
|
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 34.9%.
|
|
N/R
|
Not rated.
|
|
(ETM)
|
Escrowed to maturity.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Inverse Floating Rate Securities for more information.
|
Nuveen Investments
|
|
61 |
Statement of
|
||
Assets & Liabilities
|
||
November 30, 2011 (Unaudited)
|
Connecticut
Premium
Income
(NTC
|
)
|
Connecticut
Dividend
Advantage
(NFC
|
)
|
Connecticut
Dividend
Advantage 2
(NGK
|
)
|
Connecticut
Dividend
Advantage 3
(NGO
|
)
|
||||||
Assets
|
|||||||||||||
Investments, at value (cost $117,450,103, $60,130,978, $52,389,487 and $97,467,499, respectively)
|
$
|
120,713,593
|
$
|
61,757,328
|
$
|
53,855,427
|
$
|
99,478,311
|
|||||
Cash
|
103,435
|
86,121
|
—
|
58,668
|
|||||||||
Receivables:
|
|||||||||||||
Interest
|
1,774,120
|
891,280
|
807,215
|
1,493,360
|
|||||||||
Investments sold
|
—
|
25,697
|
505,524
|
—
|
|||||||||
Deferred offering costs
|
816,394
|
377,828
|
335,982
|
482,261
|
|||||||||
Other assets
|
16,465
|
8,190
|
32,590
|
12,360
|
|||||||||
Total assets
|
123,424,007
|
63,146,444
|
55,536,738
|
101,524,960
|
|||||||||
Liabilities
|
|||||||||||||
Cash overdraft
|
—
|
—
|
388,567
|
—
|
|||||||||
Floating rate obligations
|
7,965,000
|
3,820,000
|
3,460,000
|
5,780,000
|
|||||||||
Payables:
|
|||||||||||||
Common share dividends
|
288,207
|
144,029
|
139,111
|
227,634
|
|||||||||
Interest
|
78,197
|
44,350
|
36,724
|
70,670
|
|||||||||
Offering costs
|
294,430
|
116,458
|
104,324
|
124,243
|
|||||||||
MuniFund Term Preferred (MTP) Shares, at liquidation value
|
36,080,000
|
20,470,000
|
16,950,000
|
32,000,000
|
|||||||||
Accrued expenses:
|
|||||||||||||
Management fees
|
61,476
|
31,506
|
25,295
|
50,918
|
|||||||||
Other
|
306,905
|
102,537
|
65,846
|
199,931
|
|||||||||
Total liabilities
|
45,074,215
|
24,728,880
|
21,169,867
|
38,453,396
|
|||||||||
Net assets applicable to Common shares
|
$
|
78,349,792
|
$
|
38,417,564
|
$
|
34,366,871
|
$
|
63,071,564
|
|||||
Common shares outstanding
|
5,365,029
|
2,586,033
|
2,320,371
|
4,367,134
|
|||||||||
Net asset value per Common share outstanding (net assets applicable to Common shares, divided by Common shares outstanding)
|
$
|
14.60
|
$
|
14.86
|
$
|
14.81
|
$
|
14.44
|
|||||
Net assets applicable to Common shares consist of:
|
|||||||||||||
Common shares, $.01 par value per share
|
$
|
53,650
|
$
|
25,860
|
$
|
23,204
|
$
|
43,671
|
|||||
Paid-in surplus
|
74,362,277
|
36,557,599
|
32,737,780
|
61,436,457
|
|||||||||
Undistributed (Over-distribution of) net investment income
|
449,879
|
102,190
|
88,571
|
14,623
|
|||||||||
Accumulated net realized gain (loss)
|
220,496
|
105,565
|
51,376
|
(433,999
|
)
|
||||||||
Net unrealized appreciation (depreciation)
|
3,263,490
|
1,626,350
|
1,465,940
|
2,010,812
|
|||||||||
Net assets applicable to Common shares
|
$
|
78,349,792
|
$
|
38,417,564
|
$
|
34,366,871
|
$
|
63,071,564
|
|||||
Authorized shares:
|
|||||||||||||
Common
|
Unlimited
|
Unlimited
|
Unlimited
|
Unlimited
|
|||||||||
Auction Rate Preferred Shares (ARPS)
|
Unlimited
|
Unlimited
|
Unlimited
|
Unlimited
|
|||||||||
MTP
|
Unlimited
|
Unlimited
|
Unlimited
|
Unlimited
|
62
|
Nuveen Investments
|
Massachusetts
Premium
Income
(NMT
|
)
|
Massachusetts
Dividend
Advantage
(NMB
|
)
|
Insured
Massachusetts
Tax-Free
Advantage
(NGX
|
)
|
Missouri
Premium
Income
(NOM
|
)
|
||||||
Assets
|
|||||||||||||
Investments, at value (cost $103,614,513, $41,955,116, $58,719,651 and $50,621,766, respectively)
|
$
|
106,102,961
|
$
|
42,430,269
|
$
|
60,758,843
|
$
|
51,232,103
|
|||||
Cash
|
—
|
256,483
|
400,640
|
—
|
|||||||||
Receivables:
|
|||||||||||||
Interest
|
1,811,974
|
770,741
|
904,220
|
752,062
|
|||||||||
Investments sold
|
46,119
|
56,466
|
—
|
—
|
|||||||||
Deferred offering costs
|
828,922
|
309,064
|
367,238
|
472,995
|
|||||||||
Other assets
|
15,010
|
5,378
|
33,627
|
7,075
|
|||||||||
Total assets
|
108,804,986
|
43,828,401
|
62,464,568
|
52,464,235
|
|||||||||
Liabilities
|
|||||||||||||
Cash overdraft
|
22,737
|
—
|
—
|
56,362
|
|||||||||
Floating rate obligations
|
1,435,000
|
560,000
|
340,000
|
2,225,000
|
|||||||||
Payables:
|
|||||||||||||
Common share dividends
|
289,514
|
123,741
|
159,164
|
139,198
|
|||||||||
Interest
|
82,294
|
31,902
|
48,752
|
31,290
|
|||||||||
Offering costs
|
324,920
|
110,860
|
99,440
|
167,697
|
|||||||||
MuniFund Term Preferred (MTP) Shares, at liquidation value
|
36,645,000
|
14,725,000
|
22,075,000
|
17,880,000
|
|||||||||
Accrued expenses:
|
|||||||||||||
Management fees
|
54,854
|
22,131
|
31,794
|
25,628
|
|||||||||
Other
|
45,180
|
32,099
|
31,802
|
33,743
|
|||||||||
Total liabilities
|
38,899,499
|
15,605,733
|
22,785,952
|
20,558,918
|
|||||||||
Net assets applicable to Common shares
|
$
|
69,905,487
|
$
|
28,222,668
|
$
|
39,678,616
|
$
|
31,905,317
|
|||||
Common shares outstanding
|
4,774,788
|
1,965,699
|
2,727,011
|
2,321,560
|
|||||||||
Net asset value per Common share outstanding (net assets applicable to Common shares, divided by Common shares outstanding)
|
$
|
14.64
|
$
|
14.36
|
$
|
14.55
|
$
|
13.74
|
|||||
Net assets applicable to Common shares consist of:
|
|||||||||||||
Common shares, $.01 par value per share
|
$
|
47,748
|
$
|
19,657
|
$
|
27,270
|
$
|
23,216
|
|||||
Paid-in surplus
|
66,107,910
|
27,765,820
|
38,282,317
|
31,067,947
|
|||||||||
Undistributed (Over-distribution of) net investment income
|
659,681
|
(5,535
|
)
|
(34,312
|
)
|
395,478
|
|||||||
Accumulated net realized gain (loss)
|
601,700
|
(32,427
|
)
|
(635,851
|
)
|
(191,661
|
)
|
||||||
Net unrealized appreciation (depreciation)
|
2,488,448
|
475,153
|
2,039,192
|
610,337
|
|||||||||
Net assets applicable to Common shares
|
$
|
69,905,487
|
$
|
28,222,668
|
$
|
39,678,616
|
$
|
31,905,317
|
|||||
Authorized shares:
|
|||||||||||||
Common
|
Unlimited
|
Unlimited
|
Unlimited
|
Unlimited
|
|||||||||
Auction Rate Preferred Shares (ARPS)
|
Unlimited
|
Unlimited
|
Unlimited
|
Unlimited
|
|||||||||
MTP
|
Unlimited
|
Unlimited
|
Unlimited
|
Unlimited
|
Nuveen Investments
|
63
|
Statement of
|
||
Operations
|
||
Six Months Ended November 30, 2011 (Unaudited)
|
Connecticut
|
Connecticut
|
Connecticut
|
Connecticut
|
||||||||||
Premium
|
Dividend
|
Dividend
|
Dividend
|
||||||||||
Income
|
Advantage
|
Advantage 2
|
Advantage 3
|
||||||||||
(NTC
|
)
|
(NFC
|
)
|
(NGK
|
)
|
(NGO
|
)
|
||||||
Investment Income
|
$
|
2,786,844
|
$
|
1,431,364
|
$
|
1,283,248
|
$
|
2,315,913
|
|||||
Expenses
|
|||||||||||||
Management fees
|
373,700
|
191,340
|
167,083
|
309,495
|
|||||||||
Shareholders’ servicing agent fees and expenses
|
13,995
|
8,618
|
8,572
|
8,603
|
|||||||||
Interest expense and amortization of offering costs
|
607,243
|
335,053
|
281,875
|
516,134
|
|||||||||
Custodian’s fees and expenses
|
12,835
|
7,776
|
7,333
|
11,180
|
|||||||||
Trustees’ fees and expenses
|
1,792
|
921
|
805
|
1,491
|
|||||||||
Professional fees
|
11,063
|
10,134
|
9,988
|
10,748
|
|||||||||
Shareholders’ reports — printing and mailing expenses
|
14,756
|
8,553
|
7,587
|
13,239
|
|||||||||
Stock exchange listing fees
|
19,401
|
7,395
|
7,378
|
7,924
|
|||||||||
Investor relations expense
|
3,700
|
2,178
|
1,744
|
3,578
|
|||||||||
Reorganization expense
|
260,000
|
70,000
|
35,000
|
160,000
|
|||||||||
Other expenses
|
29,675
|
24,869
|
22,800
|
26,259
|
|||||||||
Total expenses before custodian fee credit and expense reimbursement
|
1,348,160
|
666,837
|
550,165
|
1,068,651
|
|||||||||
Custodian fee credit
|
(422
|
)
|
(665
|
)
|
(144
|
)
|
(336
|
)
|
|||||
Expense reimbursement
|
—
|
—
|
(13,301
|
)
|
—
|
||||||||
Net expenses
|
1,347,738
|
666,172
|
536,720
|
1,068,315
|
|||||||||
Net investment income (loss)
|
1,439,106
|
765,192
|
746,528
|
1,247,598
|
|||||||||
Realized and Unrealized Gain (Loss)
|
|||||||||||||
Net realized gain (loss) from investments
|
177,224
|
36,117
|
60,780
|
66,895
|
|||||||||
Change in net unrealized appreciation (depreciation) of investments
|
2,349,167
|
1,247,654
|
973,025
|
1,837,213
|
|||||||||
Net realized and unrealized gain (loss)
|
2,526,391
|
1,283,771
|
1,033,805
|
1,904,108
|
|||||||||
Net increase (decrease) in net assets applicable to Common shares from operations
|
$
|
3,965,497
|
$
|
2,048,963
|
$
|
1,780,333
|
$
|
3,151,706
|
64
|
Nuveen Investments
|
Insured
|
|||||||||||||
Massachusetts
|
Massachusetts
|
Massachusetts
|
Missouri
|
||||||||||
Premium
|
Dividend
|
Tax-Free
|
Premium
|
||||||||||
Income
|
Advantage
|
Advantage
|
Income
|
||||||||||
(NMT
|
)
|
(NMB
|
)
|
(NGX
|
)
|
(NOM
|
)
|
||||||
Investment Income
|
$
|
2,694,238
|
$
|
1,093,077
|
$
|
1,453,501
|
$
|
1,291,861
|
|||||
Expenses
|
|||||||||||||
Management fees
|
332,915
|
134,605
|
194,030
|
155,268
|
|||||||||
Shareholders’ servicing agent fees and expenses
|
12,419
|
8,328
|
8,333
|
9,642
|
|||||||||
Interest expense and amortization of offering costs
|
613,071
|
240,382
|
352,669
|
250,539
|
|||||||||
Custodian’s fees and expenses
|
11,429
|
6,422
|
6,584
|
6,803
|
|||||||||
Trustees’ fees and expenses
|
1,664
|
676
|
974
|
774
|
|||||||||
Professional fees
|
10,868
|
21,428
|
10,154
|
9,937
|
|||||||||
Shareholders’ reports — printing and mailing expenses
|
15,536
|
7,084
|
8,842
|
8,918
|
|||||||||
Stock exchange listing fees
|
32,010
|
124
|
7,820
|
7,667
|
|||||||||
Investor relations expense
|
3,799
|
1,617
|
2,287
|
1,660
|
|||||||||
Reorganization expense
|
—
|
—
|
—
|
—
|
|||||||||
Other expenses
|
27,642
|
24,575
|
25,591
|
17,934
|
|||||||||
Total expenses before custodian fee credit and expense reimbursement
|
1,061,353
|
445,241
|
617,284
|
469,142
|
|||||||||
Custodian fee credit
|
(138
|
)
|
(171
|
)
|
(127
|
)
|
(90
|
)
|
|||||
Expense reimbursement
|
—
|
—
|
—
|
—
|
|||||||||
Net expenses
|
1,061,215
|
445,070
|
617,157
|
469,052
|
|||||||||
Net investment income (loss)
|
1,633,023
|
648,007
|
836,344
|
822,809
|
|||||||||
Realized and Unrealized Gain (Loss)
|
|||||||||||||
Net realized gain (loss) from investments
|
484,383
|
105,970
|
72,747
|
22,412
|
|||||||||
Change in net unrealized appreciation (depreciation) of investments
|
2,045,690
|
794,023
|
613,277
|
1,333,577
|
|||||||||
Net realized and unrealized gain (loss)
|
2,530,073
|
899,993
|
686,024
|
1,355,989
|
|||||||||
Net increase (decrease) in net assets applicable to Common shares from operations
|
$
|
4,163,096
|
$
|
1,548,000
|
$
|
1,522,368
|
$
|
2,178,798
|
Nuveen Investments
|
65
|
Statement of
|
||
Changes in Net Assets (Unaudited)
|
Connecticut
Premium Income (NTC)
|
Connecticut
Dividend Advantage (NFC)
|
Connecticut
Dividend Advantage 2 (NGK)
|
|||||||||||||||||
Six Months
Ended
11/30/11
|
Year
Ended
5/31/11
|
Six Months
Ended
11/30/11
|
Year
Ended
5/31/11
|
Six Months
Ended
11/30/11
|
Year
Ended
5/31/11
|
||||||||||||||
Operations
|
|||||||||||||||||||
Net investment income (loss)
|
$
|
1,439,106
|
$
|
3,621,121
|
$
|
765,192
|
$
|
1,730,599
|
$
|
746,528
|
$
|
1,556,524
|
|||||||
Net realized gain (loss) from investments
|
177,224
|
109,734
|
36,117
|
99,244
|
60,780
|
39,359
|
|||||||||||||
Change in net unrealized appreciation (depreciation) of investments
|
2,349,167
|
(1,715,466
|
)
|
1,247,654
|
(1,068,421
|
)
|
973,025
|
(1,129,788
|
)
|
||||||||||
Distributions to Auction Rate Preferred Shareholders:
|
|||||||||||||||||||
From net investment income
|
—
|
(39,361
|
)
|
—
|
—
|
—
|
—
|
||||||||||||
Net increase (decrease) in net assets applicable to Common shares from operations
|
3,965,497
|
1,976,028
|
2,048,963
|
761,422
|
1,780,333
|
466,095
|
|||||||||||||
Distributions to Common Shareholders
|
|||||||||||||||||||
From net investment income
|
(1,899,221
|
)
|
(3,798,441
|
)
|
(965,883
|
)
|
(1,985,824
|
)
|
(894,490
|
)
|
(1,837,401
|
)
|
|||||||
From accumulated net realized gains
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||
Decrease in net assets applicable to Common shares from distributions to Common shareholders
|
(1,899,221
|
)
|
(3,798,441
|
)
|
(965,883
|
)
|
(1,985,824
|
)
|
(894,490
|
)
|
(1,837,401
|
)
|
|||||||
Capital Share Transactions
|
|||||||||||||||||||
Net proceeds from Common shares issued to shareholders due to reinvestment of distributions
|
—
|
—
|
—
|
26,531
|
2,815
|
16,467
|
|||||||||||||
Net increase (decrease) in net assets applicable to Common shares from capital share transactions
|
—
|
—
|
—
|
26,531
|
2,815
|
16,467
|
|||||||||||||
Net increase (decrease) in net assets applicable to Common shares
|
2,066,276
|
(1,822,413
|
)
|
1,083,080
|
(1,197,871
|
)
|
888,658
|
(1,354,839
|
)
|
||||||||||
Net assets applicable to Common shares at the beginning of period
|
76,283,516
|
78,105,929
|
37,334,484
|
38,532,355
|
33,478,213
|
34,833,052
|
|||||||||||||
Net assets applicable to Common shares at the end of period
|
$
|
78,349,792
|
$
|
76,283,516
|
$
|
38,417,564
|
$
|
37,334,484
|
$
|
34,366,871
|
$
|
33,478,213
|
|||||||
Undistributed (Over-distribution of) net investment income at the end of period
|
$
|
449,879
|
$
|
909,994
|
$
|
102,190
|
$
|
302,881
|
$
|
88,571
|
$
|
236,533
|
66
|
Nuveen Investments
|
Connecticut
Dividend Advantage 3 (NGO)
|
Massachusetts
Premium Income (NMT)
|
Massachusetts
Dividend Advantage (NMB)
|
|||||||||||||||||
Six Months
Ended
11/30/11
|
Year
Ended
5/31/11
|
Six Months
Ended
11/30/11
|
Year
Ended
5/31/11
|
Six Months
Ended
11/30/11
|
Year
Ended
5/31/11
|
||||||||||||||
Operations
|
|||||||||||||||||||
Net investment income (loss)
|
$
|
1,247,598
|
$
|
2,785,608
|
$
|
1,633,023
|
$
|
3,589,129
|
$
|
648,007
|
$
|
1,345,889
|
|||||||
Net realized gain (loss) from investments
|
66,895
|
95
|
484,383
|
102,652
|
105,970
|
(158,330
|
)
|
||||||||||||
Change in net unrealized appreciation (depreciation) of investments
|
1,837,213
|
(1,241,126
|
)
|
2,045,690
|
(1,273,832
|
)
|
794,023
|
(356,215
|
)
|
||||||||||
Distributions to Auction Rate Preferred Shareholders:
|
|||||||||||||||||||
From net investment income
|
—
|
—
|
—
|
(42,554
|
)
|
—
|
—
|
||||||||||||
Net increase (decrease) in net assets applicable to Common shares from operations
|
3,151,706
|
1,544,577
|
4,163,096
|
2,375,395
|
1,548,000
|
831,344
|
|||||||||||||
Distributions to Common Shareholders
|
|||||||||||||||||||
From net investment income
|
(1,539,415
|
)
|
(3,144,336
|
)
|
(1,862,168
|
)
|
(3,723,001
|
)
|
(790,211
|
)
|
(1,627,118
|
)
|
|||||||
From accumulated net realized gains
|
—
|
—
|
—
|
(179,532
|
)
|
—
|
—
|
||||||||||||
Decrease in net assets applicable to Common shares from distributions to Common shareholders
|
(1,539,415
|
)
|
(3,144,336
|
)
|
(1,862,168
|
)
|
(3,902,533
|
)
|
(790,211
|
)
|
(1,627,118
|
)
|
|||||||
Capital Share Transactions
|
|||||||||||||||||||
Net proceeds from Common shares issued to shareholders due to reinvestment of distributions
|
—
|
—
|
—
|
100,786
|
—
|
25,160
|
|||||||||||||
Net increase (decrease) in net assets applicable to Common shares from capital share transactions
|
—
|
—
|
—
|
100,786
|
—
|
25,160
|
|||||||||||||
Net increase (decrease) in net assets applicable to Common shares
|
1,612,291
|
(1,599,759
|
)
|
2,300,928
|
(1,426,352
|
)
|
757,789
|
(770,614
|
)
|
||||||||||
Net assets applicable to Common shares at the beginning of period
|
61,459,273
|
63,059,032
|
67,604,559
|
69,030,911
|
27,464,879
|
28,235,493
|
|||||||||||||
Net assets applicable to Common shares at the end of period
|
$
|
63,071,564
|
$
|
61,459,273
|
$
|
69,905,487
|
$
|
67,604,559
|
$
|
28,222,668
|
$
|
27,464,879
|
|||||||
Undistributed (Over-distribution of) net investment income at the end of period
|
$
|
14,623
|
$
|
306,440
|
$
|
659,681
|
$
|
888,826
|
$
|
(5,535
|
)
|
$
|
136,669
|
Nuveen Investments
|
67
|
Statement of
|
||
Changes in Net Assets (Unaudited) (continued)
|
Insured Massachusetts
Tax-Free Advantage (NGX)
|
Missouri
Premium Income (NOM)
|
||||||||||||
Six Months
Ended
11/30/11
|
Year
Ended
5/31/11
|
Six Months
Ended
11/30/11
|
Year
Ended
5/31/11
|
||||||||||
Operations
|
|||||||||||||
Net investment income (loss)
|
$
|
836,344
|
$
|
1,740,563
|
$
|
822,809
|
$
|
1,814,122
|
|||||
Net realized gain (loss) from investments
|
72,747
|
(4,031
|
)
|
22,412
|
137,346
|
||||||||
Change in net unrealized appreciation (depreciation) of investments
|
613,277
|
(628,384
|
)
|
1,333,577
|
(933,927
|
)
|
|||||||
Distributions to Auction Rate Preferred Shareholders:
|
|||||||||||||
From net investment income
|
—
|
—
|
—
|
(33,471
|
)
|
||||||||
Net increase (decrease) in net assets applicable to Common shares from operations
|
1,522,368
|
1,108,148
|
2,178,798
|
984,070
|
|||||||||
Distributions to Common Shareholders
|
|||||||||||||
From net investment income
|
(1,002,176
|
)
|
(2,061,418
|
)
|
(904,985
|
)
|
(1,806,982
|
)
|
|||||
From accumulated net realized gains
|
—
|
—
|
—
|
—
|
|||||||||
Decrease in net assets applicable to Common shares from distributions to Common shareholders
|
(1,002,176
|
)
|
(2,061,418
|
)
|
(904,985
|
)
|
(1,806,982
|
)
|
|||||
Capital Share Transactions
|
|||||||||||||
Net proceeds from Common shares issued to shareholders due to reinvestment of distributions
|
—
|
17,059
|
36,597
|
70,115
|
|||||||||
Net increase (decrease) in net assets applicable to Common shares from capital share transactions
|
—
|
17,059
|
36,597
|
70,115
|
|||||||||
Net increase (decrease) in net assets applicable to Common shares
|
520,192
|
(936,211
|
)
|
1,310,410
|
(752,797
|
)
|
|||||||
Net assets applicable to Common shares at the beginning of period
|
39,158,424
|
40,094,635
|
30,594,907
|
31,347,704
|
|||||||||
Net assets applicable to Common shares at the end of period
|
$
|
39,678,616
|
$
|
39,158,424
|
$
|
31,905,317
|
$
|
30,594,907
|
|||||
Undistributed (Over-distribution of) net investment income at the end of period
|
$
|
(34,312
|
)
|
$
|
131,520
|
$
|
395,478
|
$
|
477,654
|
68
|
Nuveen Investments
|
Statement of
|
||
Cash Flows
|
||
Six Months Ended November 30, 2011 (Unaudited)
|
Connecticut
|
Connecticut
|
Connecticut
|
Connecticut
|
||||||||||
Premium
|
Dividend
|
Dividend
|
Dividend
|
||||||||||
Income
|
Advantage
|
Advantage 2
|
Advantage 3
|
||||||||||
(NTC
|
)
|
(NFC
|
)
|
(NGK
|
)
|
(NGO
|
)
|
||||||
Cash Flows from Operating Activities:
|
|||||||||||||
Net Increase (Decrease) in Net Assets Applicable to Common Shares from Operations
|
$
|
3,965,497
|
$
|
2,048,963
|
$
|
1,780,333
|
$
|
3,151,706
|
|||||
Adjustments to reconcile the net increase (decrease) in net assets applicable to Common shares from operations to net cash provided by (used in) operating activities:
|
|||||||||||||
Purchases of investments
|
(9,456,187
|
)
|
(7,068,883
|
)
|
(3,910,233
|
)
|
(7,857,173
|
)
|
|||||
Proceeds from sales and maturities of investments
|
8,086,227
|
5,452,875
|
4,059,503
|
6,828,353
|
|||||||||
Amortization (Accretion) of premiums and discounts, net
|
145,620
|
75,253
|
54,458
|
107,099
|
|||||||||
(Increase) Decrease in:
|
|||||||||||||
Receivable for interest
|
38,419
|
(17,123
|
)
|
(37,694
|
)
|
18,220
|
|||||||
Receivable for investments sold
|
—
|
(25,697
|
)
|
(505,524
|
)
|
—
|
|||||||
Other assets
|
18,828
|
(1,741
|
)
|
(1,737
|
)
|
(1,814
|
)
|
||||||
Increase (Decrease) in:
|
|||||||||||||
Payable for interest
|
(4
|
)
|
6
|
5
|
(11
|
)
|
|||||||
Payable for investment purchased
|
—
|
(43,331
|
)
|
—
|
—
|
||||||||
Accrued management fees
|
(761
|
)
|
(387
|
)
|
(365
|
)
|
(692
|
)
|
|||||
Accrued other expenses
|
276,247
|
74,108
|
38,902
|
166,832
|
|||||||||
Net realized (gain) loss from investments
|
(177,224
|
)
|
(36,117
|
)
|
(60,780
|
)
|
(66,895
|
)
|
|||||
Change in net unrealized (appreciation) depreciation of investments
|
(2,349,167
|
)
|
(1,247,654
|
)
|
(973,025
|
)
|
(1,837,213
|
)
|
|||||
Taxes paid on undistributed capital gains
|
(9,422
|
)
|
(10,907
|
)
|
(3,642
|
)
|
—
|
||||||
Net cash provided by (used in) operating activities
|
538,073
|
(800,635
|
)
|
440,201
|
508,412
|
||||||||
Cash Flows from Financing Activities:
|
|||||||||||||
(Increase) Decrease in deferred offering costs
|
112,409
|
56,767
|
50,480
|
74,349
|
|||||||||
Increase (Decrease) in:
|
|||||||||||||
Cash overdraft balance
|
—
|
—
|
388,567
|
—
|
|||||||||
Floating rate obligations
|
—
|
—
|
—
|
—
|
|||||||||
Payable for offering costs
|
(72,110
|
)
|
(71,607
|
)
|
(76,164
|
)
|
(77,325
|
)
|
|||||
Cash distributions paid to Common shareholders
|
(1,897,930
|
)
|
(975,278
|
)
|
(899,710
|
)
|
(1,546,653
|
)
|
|||||
Net cash provided by (used in) financing activities
|
(1,857,631
|
)
|
(990,118
|
)
|
(536,827
|
)
|
(1,549,629
|
)
|
|||||
Net Increase (Decrease) in Cash
|
(1,319,558
|
)
|
(1,790,753
|
)
|
(96,626
|
)
|
(1,041,217
|
)
|
|||||
Cash at the beginning of period
|
1,422,993
|
1,876,874
|
96,626
|
1,099,885
|
|||||||||
Cash at the End of Period
|
$
|
103,435
|
$
|
86,121
|
$
|
—
|
$
|
58,668
|
Connecticut
|
Connecticut
|
Connecticut
|
Connecticut
|
||||||||||
Premium
|
Dividend
|
Dividend
|
Dividend
|
||||||||||
Income
|
Advantage
|
Advantage 2
|
Advantage 3
|
||||||||||
(NTC
|
)
|
(NFC
|
)
|
(NGK
|
)
|
(NGO
|
)
|
||||||
$
|
—
|
$
|
—
|
$
|
2,815
|
$
|
—
|
||||||
Cash paid for interest (excluding amortization of offering costs) was as follows:
|
|||||||||||||
Connecticut
|
Connecticut
|
Connecticut
|
Connecticut
|
||||||||||
Premium
|
Dividend
|
Dividend
|
Dividend
|
||||||||||
Income
|
Advantage
|
Advantage 2
|
Advantage 3
|
||||||||||
(NTC
|
)
|
(NFC
|
)
|
(NGK
|
)
|
(NGO
|
)
|
||||||
$
|
494,837
|
$
|
278,280
|
$
|
231,390
|
$
|
441,796
|
Nuveen Investments
|
69
|
Statement of
|
||
Cash Flows (Unaudited) (continued)
|
Insured
|
|||||||||||||
Massachusetts
|
Massachusetts
|
Massachusetts
|
Missouri
|
||||||||||
Premium
|
Dividend
|
Tax-Free
|
Premium
|
||||||||||
Income
|
Advantage
|
Advantage
|
Income
|
||||||||||
(NMT
|
)
|
(NMB
|
)
|
(NGX
|
)
|
(NOM
|
)
|
||||||
Cash Flows from Operating Activities:
|
|||||||||||||
Net Increase (Decrease) in Net Assets Applicable to Common Shares from Operations
|
$
|
4,163,096
|
$
|
1,548,000
|
$
|
1,522,368
|
$
|
2,178,798
|
|||||
Adjustments to reconcile the net increase (decrease) in net assets applicable to Common shares from operations to net cash provided by (used in) operating activities:
|
|||||||||||||
Purchases of investments
|
(10,370,621
|
)
|
(3,202,593
|
)
|
(3,386,688
|
)
|
(4,387,245
|
)
|
|||||
Proceeds from sales and maturities of investments
|
11,302,219
|
3,242,087
|
4,696,338
|
3,031,624
|
|||||||||
Amortization (Accretion) of premiums and discounts, net
|
125,940
|
315,348
|
70,643
|
46,166
|
|||||||||
(Increase) Decrease in:
|
|||||||||||||
Receivable for interest
|
(72,478
|
)
|
(40,880
|
)
|
(73
|
)
|
49,744
|
||||||
Receivable for investments sold
|
98,881
|
(56,466
|
)
|
120,000
|
2,050,353
|
||||||||
Other assets
|
18,075
|
(262
|
)
|
(1,741
|
)
|
7,213
|
|||||||
Increase (Decrease) in:
|
|||||||||||||
Payable for interest
|
(8
|
)
|
5
|
(8
|
)
|
—
|
|||||||
Payable for investment purchased
|
—
|
—
|
—
|
(291,936
|
)
|
||||||||
Accrued management fees
|
(510
|
)
|
(242
|
)
|
(737
|
)
|
(145
|
)
|
|||||
Accrued other expenses
|
16,657
|
13,119
|
5,965
|
9,668
|
|||||||||
Net realized (gain) loss from investments
|
(484,383
|
)
|
(105,970
|
)
|
(72,747
|
)
|
(22,412
|
)
|
|||||
Change in net unrealized (appreciation) depreciation of investments
|
(2,045,690
|
)
|
(794,023
|
)
|
(613,277
|
)
|
(1,333,577
|
)
|
|||||
Taxes paid on undistributed capital gains
|
(7,745
|
)
|
—
|
—
|
—
|
||||||||
Net cash provided by (used in) operating activities
|
2,743,433
|
918,123
|
2,340,043
|
1,338,251
|
|||||||||
Cash Flows from Financing Activities:
|
|||||||||||||
(Increase) Decrease in deferred offering costs
|
113,440
|
46,434
|
56,618
|
59,206
|
|||||||||
Increase (Decrease) in:
|
|||||||||||||
Cash overdraft balance
|
22,737
|
—
|
—
|
(527,560
|
)
|
||||||||
Floating rate obligations
|
(1,015,000
|
)
|
(490,000
|
)
|
(1,160,000
|
)
|
—
|
||||||
Payable for offering costs
|
(84,547
|
)
|
(2,654
|
)
|
(81,567
|
)
|
(1,501
|
)
|
|||||
Cash distributions paid to Common shareholders
|
(1,861,169
|
)
|
(797,927
|
)
|
(1,011,906
|
)
|
(868,396
|
)
|
|||||
Net cash provided by (used in) financing activities
|
(2,824,539
|
)
|
(1,244,147
|
)
|
(2,196,855
|
)
|
(1,338,251
|
)
|
|||||
Net Increase (Decrease) in Cash
|
(81,106
|
)
|
(326,024
|
)
|
143,188
|
—
|
|||||||
Cash at the beginning of period
|
81,106
|
582,507
|
257,452
|
—
|
|||||||||
Cash at the End of Period
|
$
|
—
|
$
|
256,483
|
$
|
400,640
|
$
|
—
|
|
Insured
|
||||||||||||
Massachusetts
|
Massachusetts
|
Massachusetts
|
Missouri
|
||||||||||
Premium
|
Dividend
|
Tax-Free
|
Premium
|
||||||||||
Income
|
Advantage
|
Advantage
|
Income
|
||||||||||
(NMT
|
)
|
(NMB
|
)
|
(NGX
|
)
|
(NOM
|
)
|
||||||
$
|
—
|
$
|
—
|
$
|
—
|
$
|
36,597
|
||||||
Cash paid for interest (excluding amortization of offering costs) was as follows:
|
|||||||||||||
|
Insured
|
||||||||||||
Massachusetts
|
Massachusetts
|
Massachusetts
|
Missouri
|
||||||||||
Premium
|
Dividend
|
Tax-Free
|
Premium
|
||||||||||
Income
|
Advantage
|
Advantage
|
Income
|
||||||||||
(NMT
|
)
|
(NMB
|
)
|
(NGX
|
)
|
(NOM
|
)
|
||||||
$
|
499,639
|
$
|
193,943
|
$
|
296,058
|
$
|
191,333
|
70
|
Nuveen Investments
|
Financial
|
||
Highlights (Unaudited)
|
Nuveen Investments
|
71
|
Financial
|
||
Highlights (Unaudited)
|
||
Selected data for a Common share outstanding throughout each period: |
Investment Operations
|
Less Distributions
|
|||||||||||||||||||||||||||||||||
Beginning
Common
Share
Net Asset
Value
|
Net
Investment
Income
(Loss
|
)
|
Net
Realized/
Unrealized
Gain (Loss
|
)
|
Distributions
from Net
Investment
Income to
Auction Rate
Preferred
Share-
holders
|
(a)
|
Distributions
from
Capital
Gains to
Auction Rate
Preferred
Share-
holders
|
(a)
|
Total
|
Net
Investment
Income to
Common
Share-
holders
|
Capital
Gains to
Common
Share-
holders
|
Total
|
Ending
Common
Share
Net Asset
Value
|
Ending
Market
Value
|
||||||||||||||||||||
Connecticut Premium Income (NTC)
|
||||||||||||||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||||||||||||||
2012(f)
|
$
|
14.22
|
$
|
.27
|
$
|
.46
|
$
|
—
|
$
|
—
|
$
|
.73
|
$
|
(.35
|
)
|
$
|
—
|
$
|
(.35
|
)
|
$
|
14.60
|
$
|
14.04
|
||||||||||
2011
|
14.56
|
.67
|
(.29
|
)
|
(.01
|
)
|
—
|
.37
|
(.71
|
)
|
—
|
(.71
|
)
|
14.22
|
13.18
|
|||||||||||||||||||
2010
|
13.59
|
.80
|
.88
|
(.02
|
)
|
—
|
* |
1.66
|
(.69
|
)
|
—
|
* |
(.69
|
)
|
14.56
|
13.94
|
||||||||||||||||||
2009
|
14.25
|
.84
|
(.66
|
)
|
(.14
|
)
|
(.03
|
)
|
.01
|
(.60
|
)
|
(.07
|
)
|
(.67
|
)
|
13.59
|
13.35
|
|||||||||||||||||
2008
|
14.39
|
.83
|
(.09
|
)
|
(.22
|
)
|
(.01
|
)
|
.51
|
(.62
|
)
|
(.03
|
)
|
(.65
|
)
|
14.25
|
14.08
|
|||||||||||||||||
2007
|
14.42
|
.83
|
.07
|
(.20
|
)
|
(.01
|
)
|
.69
|
(.65
|
)
|
(.07
|
)
|
(.72
|
)
|
14.39
|
14.91
|
||||||||||||||||||
Connecticut Dividend Advantage (NFC)
|
||||||||||||||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||||||||||||||
2012(f)
|
14.44
|
.30
|
.49
|
—
|
—
|
.79
|
(.37
|
)
|
—
|
(.37
|
)
|
14.86
|
14.90
|
|||||||||||||||||||||
2011
|
14.91
|
.67
|
(.37
|
)
|
—
|
—
|
.30
|
(.77
|
)
|
—
|
(.77
|
)
|
14.44
|
13.85
|
||||||||||||||||||||
2010
|
14.08
|
.85
|
.75
|
(.03
|
)
|
—
|
1.57
|
(.74
|
)
|
—
|
(.74
|
)
|
14.91
|
15.29
|
||||||||||||||||||||
2009
|
14.69
|
.91
|
(.55
|
)
|
(.15
|
)
|
(.04
|
)
|
.17
|
(.67
|
)
|
(.11
|
)
|
(.78
|
)
|
14.08
|
13.75
|
|||||||||||||||||
2008
|
14.76
|
.91
|
.01
|
(.24
|
)
|
(.02
|
)
|
.66
|
(.67
|
)
|
(.06
|
)
|
(.73
|
)
|
14.69
|
14.93
|
||||||||||||||||||
2007
|
14.75
|
.92
|
.04
|
(.22
|
)
|
—
|
.74
|
(.73
|
)
|
—
|
(.73
|
)
|
14.76
|
16.37
|
(a)
|
The amounts shown are based on Common share equivalents.
|
(b)
|
Total Return Based on Market Value is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not annualized.
|
Total Return Based on Common Share Net Asset Value is the combination of changes in Common share net asset value, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending net asset value. The actual reinvest price for the last dividend declared in the period may often be based on the Fund’s market price (and not its net asset value), and therefore may be different from the price used in the calculation. Total returns are not annualized.
|
72
|
Nuveen Investments
|
Ratios/Supplemental Data
|
|||||||||||||||||||||||||
Total Returns
|
Ratios to Average Net Assets
Applicable to Common Shares
Before Reimbursement(c)
|
Ratios to Average Net Assets
Applicable to Common Shares
After Reimbursement(c)(d)
|
|||||||||||||||||||||||
Based
on
Market
Value
|
(b)
|
Based
on
Common
Share Net
Asset
Value
|
(b)
|
Ending
Net
Assets
Applicable
to Common
Shares (000
|
)
|
Expenses
|
(e)
|
Net
Investment
Income
(Loss
|
)
|
Expenses
|
(e)
|
Net
Investment
Income
(Loss
|
)
|
Portfolio
Turnover
Rate
|
|||||||||||
9.33
|
%
|
5.19
|
%
|
$
|
78,350
|
3.45
|
%**
|
3.68
|
%**
|
N/A
|
N/A
|
7
|
%
|
||||||||||||
(.39
|
)
|
2.63
|
76,284
|
2.41
|
4.73
|
N/A
|
N/A
|
9
|
|||||||||||||||||
9.76
|
12.49
|
78,106
|
1.57
|
5.64
|
N/A
|
N/A
|
5
|
||||||||||||||||||
.32
|
.45
|
72,901
|
1.43
|
6.40
|
N/A
|
N/A
|
0
|
||||||||||||||||||
(1.08
|
)
|
3.60
|
76,441
|
1.30
|
5.82
|
N/A
|
N/A
|
22
|
|||||||||||||||||
12.33
|
4.79
|
77,151
|
1.24
|
5.67
|
N/A
|
N/A
|
8
|
||||||||||||||||||
10.42
|
5.53
|
38,418
|
3.49
|
**
|
4.00
|
**
|
3.49
|
%**
|
4.00
|
%**
|
9
|
||||||||||||||
(4.38
|
)
|
2.09
|
37,334
|
3.13
|
4.55
|
3.08
|
4.60
|
13
|
|||||||||||||||||
16.92
|
11.34
|
38,532
|
1.62
|
5.73
|
1.49
|
5.86
|
4
|
||||||||||||||||||
(2.10
|
)
|
1.50
|
36,329
|
1.47
|
6.45
|
1.26
|
6.66
|
0
|
|||||||||||||||||
(4.10
|
)
|
4.62
|
37,874
|
1.33
|
5.90
|
1.05
|
6.18
|
20
|
|||||||||||||||||
5.46
|
5.05
|
38,024
|
1.29
|
5.78
|
.94
|
6.14
|
9
|
(c)
|
Ratios do not reflect the effect of dividend payments to Auction Rate Preferred shareholders, where applicable; Net Investment Income (Loss) ratios reflect income earned and expenses incurred on assets attributable to ARPS and/or MTP Shares, where applicable.
|
(d)
|
After expense reimbursement from the Adviser, where applicable. Ratios do not reflect the effect of custodian fee credits earned on the Fund’s net cash on deposit with the custodian bank, where applicable. As of January 31, 2011, the Adviser is no longer reimbursing Connecticut Dividend Advantage (NFC) for any fees or expenses.
|
(e)
|
The expense ratios reflect, among other things, all interest expense and other costs related to MTP Shares and/or the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, both as described in Footnote 1 – General Information and Significant Accounting Policies, MuniFund Term Preferred Shares and Inverse Floating Rate Securities, respectively, as follows:
|
Connecticut Premium Income (NTC)
|
||||
Year Ended 5/31:
|
||||
2012(f)
|
1.56
|
%**
|
||
2011
|
1.20
|
|||
2010
|
.37
|
|||
2009
|
.11
|
|||
2008
|
.03
|
|||
2007
|
—
|
|||
Connecticut Dividend Advantage (NFC)
|
||||
Year Ended 5/31:
|
||||
2012(f)
|
1.75
|
%**
|
||
2011
|
1.80
|
|||
2010
|
.36
|
|||
2009
|
.11
|
|||
2008
|
.02
|
|||
2007
|
—
|
(f)
|
For the six months ended November 30, 2011.
|
*
|
Rounds to less than $.01 per share.
|
**
|
Annualized.
|
N/A
|
Fund does not have a contractual reimbursement with the Adviser.
|
Nuveen Investments
|
73
|
Financial
|
||
Highlights (Unaudited) (continued)
|
||
Selected data for a Common share outstanding throughout each period: |
Investment Operations
|
Less Distributions
|
|||||||||||||||||||||||||||||||||
Beginning
Common
Share
Net Asset
Value
|
Net
Investment
Income
(Loss
|
)
|
Net
Realized/
Unrealized
Gain (Loss
|
)
|
Distributions
from Net
Investment
Income to
Auction Rate
Preferred
Share-
holders
|
(a)
|
Distributions
from
Capital
Gains to
Auction Rate
Preferred
Share-
holders
|
(a)
|
Total
|
Net
Investment
Income to
Common
Share-
holders
|
Capital
Gains to
Common
Share-
holders
|
Total
|
Ending
Common
Share
Net Asset
Value
|
Ending
Market
Value
|
||||||||||||||||||||
Connecticut Dividend Advantage 2 (NGK)
|
||||||||||||||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||||||||||||||
2012(f)
|
$
|
14.43
|
$
|
.32
|
$
|
.45
|
$
|
—
|
$
|
—
|
$
|
.77
|
$
|
(.39
|
)
|
$
|
—
|
$
|
(.39
|
)
|
$
|
14.81
|
$
|
14.78
|
||||||||||
2011
|
15.02
|
.67
|
(.47
|
)
|
—
|
—
|
.20
|
(.79
|
)
|
—
|
(.79
|
)
|
14.43
|
13.96
|
||||||||||||||||||||
2010
|
14.28
|
.86
|
.67
|
(.03
|
)
|
—
|
1.50
|
(.76
|
)
|
—
|
(.76
|
)
|
15.02
|
16.20
|
||||||||||||||||||||
2009
|
14.76
|
.91
|
(.43
|
)
|
(.14
|
)
|
(.04
|
)
|
.30
|
(.66
|
)
|
(.12
|
)
|
(.78
|
)
|
14.28
|
14.30
|
|||||||||||||||||
2008
|
14.85
|
.91
|
(.01
|
)
|
(.23
|
)
|
(.02
|
)
|
.65
|
(.67
|
)
|
(.07
|
)
|
(.74
|
)
|
14.76
|
15.00
|
|||||||||||||||||
2007
|
14.86
|
.91
|
.08
|
(.22
|
)
|
(.01
|
)
|
.76
|
(.73
|
)
|
(.04
|
)
|
(.77
|
)
|
14.85
|
16.38
|
||||||||||||||||||
Connecticut Dividend Advantage 3 (NGO)
|
||||||||||||||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||||||||||||||
2012(f)
|
14.07
|
.29
|
.43
|
—
|
—
|
.72
|
(.35
|
)
|
—
|
(.35
|
)
|
14.44
|
13.57
|
|||||||||||||||||||||
2011
|
14.44
|
.64
|
(.29
|
)
|
—
|
—
|
.35
|
(.72
|
)
|
—
|
(.72
|
)
|
14.07
|
12.89
|
||||||||||||||||||||
2010
|
13.57
|
.77
|
.80
|
(.02
|
)
|
—
|
1.55
|
(.68
|
)
|
—
|
(.68
|
)
|
14.44
|
14.06
|
||||||||||||||||||||
2009
|
14.08
|
.84
|
(.58
|
)
|
(.17
|
)
|
—
|
.09
|
(.60
|
)
|
—
|
(.60
|
)
|
13.57
|
13.04
|
|||||||||||||||||||
2008
|
14.30
|
.87
|
(.23
|
)
|
(.25
|
)
|
—
|
.39
|
(.61
|
)
|
—
|
(.61
|
)
|
14.08
|
13.63
|
|||||||||||||||||||
2007
|
14.18
|
.86
|
.13
|
(.23
|
)
|
—
|
.76
|
(.64
|
)
|
—
|
(.64
|
)
|
14.30
|
14.70
|
(a)
|
The amounts shown are based on Common share equivalents.
|
(b)
|
Total Return Based on Market Value is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not annualized.
|
Total Return Based on Common Share Net Asset Value is the combination of changes in Common share net asset value, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending net asset value. The actual reinvest price for the last dividend declared in the period may often be based on the Fund’s market price (and not its net asset value), and therefore may be different from the price used in the calculation. Total returns are not annualized.
|
74
|
Nuveen Investments
|
Ratios/Supplemental Data
|
|||||||||||||||||||||||||
Total Returns
|
Ratios to Average Net Assets
Applicable to Common Shares
Before Reimbursement(c)
|
Ratios to Average Net Assets
Applicable to Common Shares
After Reimbursement(c)(d)
|
|||||||||||||||||||||||
Based
on
Market
Value
|
(b)
|
Based
on
Common
Share Net
Asset
Value
|
(b)
|
Ending
Net
Assets
Applicable
to Common
Shares (000
|
)
|
Expenses
|
(e)
|
Net
Investment
Income
(Loss
|
)
|
Expenses
|
(e)
|
Net
Investment
Income
(Loss
|
)
|
Portfolio
Turnover
Rate
|
|||||||||||
8.73
|
%
|
5.34
|
%
|
$
|
34,367
|
3.22
|
%*
|
4.28
|
%*
|
3.14
|
%*
|
4.36
|
%*
|
7
|
%
|
||||||||||
(8.96
|
)
|
1.41
|
33,478
|
2.98
|
4.44
|
2.83
|
4.58
|
11
|
|||||||||||||||||
19.15
|
10.69
|
34,833
|
1.61
|
5.64
|
1.40
|
5.86
|
3
|
||||||||||||||||||
1.40
|
2.52
|
33,092
|
1.48
|
6.31
|
1.19
|
6.60
|
0
|
||||||||||||||||||
(3.63
|
)
|
4.54
|
34,188
|
1.36
|
5.79
|
1.00
|
6.15
|
23
|
|||||||||||||||||
3.58
|
5.13
|
34,366
|
1.31
|
5.60
|
.87
|
6.04
|
12
|
||||||||||||||||||
8.10
|
5.17
|
63,072
|
3.40
|
*
|
3.97
|
*
|
3.40
|
*
|
3.97
|
*
|
7
|
||||||||||||||
(3.29
|
)
|
2.52
|
61,459
|
2.91
|
4.47
|
2.87
|
4.52
|
8
|
|||||||||||||||||
13.26
|
11.66
|
63,059
|
1.78
|
5.28
|
1.61
|
5.45
|
3
|
||||||||||||||||||
.53
|
.89
|
59,244
|
1.43
|
6.12
|
1.14
|
6.41
|
0
|
||||||||||||||||||
(3.07
|
)
|
2.79
|
61,476
|
1.29
|
5.70
|
.88
|
6.11
|
24
|
|||||||||||||||||
9.15
|
5.42
|
62,325
|
1.26
|
5.44
|
.78
|
5.92
|
15
|
(c)
|
Ratios do not reflect the effect of dividend payments to Auction Rate Preferred shareholders, where applicable; Net Investment Income (Loss) ratios reflect income earned and expenses incurred on assets attributable to ARPS and/or MTP Shares, where applicable.
|
(d)
|
After expense reimbursement from the Adviser, where applicable. Ratios do not reflect the effect of custodian fee credits earned on the Fund’s net cash on deposit with the custodian bank, where applicable. As of September 30, 2010, the Adviser is no longer reimbursing Connecticut Dividend Advantage 3 (NGO) for any fees or expenses.
|
(e)
|
The expense ratios reflect, among other things, all interest expense and other costs related to MTP Shares and/or the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, both as described in Footnote 1 – General Information and Significant Accounting Policies, MuniFund Term Preferred Shares and Inverse Floating Rate Securities, respectively, as follows:
|
Connecticut Dividend Advantage 2 (NGK)
|
||||
Year Ended 5/31:
|
||||
2012(f)
|
1.65
|
%*
|
||
2011
|
1.67
|
|||
2010
|
.34
|
|||
2009
|
.11
|
|||
2008
|
.03
|
|||
2007
|
—
|
|||
Connecticut Dividend Advantage 3 (NGO)
|
||||
Year Ended 5/31:
|
||||
2012(f)
|
1.64
|
%*
|
||
2011
|
1.69
|
|||
2010
|
.57
|
|||
2009
|
.11
|
|||
2008
|
.02
|
|||
2007
|
—
|
(f)
|
For the six months ended November 30, 2011.
|
*
|
Annualized.
|
Nuveen Investments
|
75
|
Financial
|
||
Highlights (Unaudited) (continued)
|
||
Selected data for a Common share outstanding throughout each period: |
Investment Operations
|
Less Distributions
|
|||||||||||||||||||||||||||||||||
Beginning
Common
Share
Net Asset
Value
|
Net
Investment
Income
(Loss
|
)
|
Net
Realized/
Unrealized
Gain (Loss
|
)
|
Distributions
from Net
Investment
Income to
Auction Rate
Preferred
Share-
holders
|
(a)
|
Distributions
from
Capital
Gains to
Auction Rate
Preferred
Share-
holders
|
(a)
|
Total
|
Net
Investment
Income to
Common
Share-
holders
|
Capital
Gains to
Common
Share-
holders
|
Total
|
Ending
Common
Share
Net Asset
Value
|
Ending
Market
Value
|
||||||||||||||||||||
Massachusetts Premium Income (NMT)
|
||||||||||||||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||||||||||||||
2012(f)
|
$
|
14.16
|
$
|
.34
|
$
|
.53
|
$
|
—
|
$
|
—
|
$
|
.87
|
$
|
(.39
|
)
|
$
|
—
|
$
|
(.39
|
)
|
$
|
14.64
|
$
|
13.78
|
||||||||||
2011
|
14.48
|
.75
|
(.24
|
)
|
(.01
|
)
|
—
|
.50
|
(.78
|
)
|
(.04
|
)
|
(.82
|
)
|
14.16
|
13.59
|
||||||||||||||||||
2010
|
13.29
|
.87
|
1.12
|
(.03
|
)
|
—
|
1.96
|
(.77
|
)
|
—
|
(.77
|
)
|
14.48
|
14.93
|
||||||||||||||||||||
2009
|
14.22
|
.91
|
(.98
|
)
|
(.15
|
)
|
(.02
|
)
|
(.24
|
)
|
(.65
|
)
|
(.04
|
)
|
(.69
|
)
|
13.29
|
13.28
|
||||||||||||||||
2008
|
14.56
|
.88
|
(.32
|
)
|
(.25
|
)
|
(.01
|
)
|
.30
|
(.62
|
)
|
(.02
|
)
|
(.64
|
)
|
14.22
|
13.61
|
|||||||||||||||||
2007
|
14.45
|
.88
|
.13
|
(.23
|
)
|
—*
|
.78
|
(.67
|
)
|
—
|
*
|
(.67
|
)
|
14.56
|
14.33
|
|||||||||||||||||||
Massachusetts Dividend Advantage (NMB)
|
||||||||||||||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||||||||||||||
2012(f)
|
13.97
|
.33
|
.46
|
—
|
—
|
.79
|
(.40
|
)
|
—
|
(.40
|
)
|
14.36
|
13.55
|
|||||||||||||||||||||
2011
|
14.38
|
.68
|
(.26
|
)
|
—
|
—
|
.42
|
(.83
|
)
|
—
|
(.83
|
)
|
13.97
|
13.53
|
||||||||||||||||||||
2010
|
13.52
|
.89
|
.80
|
(.02
|
)
|
(.01
|
)
|
1.66
|
(.77
|
)
|
(.03
|
)
|
(.80
|
)
|
14.38
|
14.10
|
||||||||||||||||||
2009
|
14.36
|
.95
|
(.93
|
)
|
(.17
|
)
|
—
|
(.15
|
)
|
(.69
|
)
|
—
|
(.69
|
)
|
13.52
|
13.83
|
||||||||||||||||||
2008
|
14.84
|
.94
|
(.45
|
)
|
(.26
|
)
|
(.01
|
)
|
.22
|
(.68
|
)
|
(.02
|
)
|
(.70
|
)
|
14.36
|
14.61
|
|||||||||||||||||
2007
|
14.83
|
.93
|
.08
|
(.25
|
)
|
—
|
.76
|
(.75
|
)
|
—
|
(.75
|
)
|
14.84
|
16.28
|
(a)
|
The amounts shown are based on Common share equivalents.
|
(b)
|
Total Return Based on Market Value is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not annualized.
|
Total Return Based on Common Share Net Asset Value is the combination of changes in Common share net asset value, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending net asset value. The actual reinvest price for the last dividend declared in the period may often be based on the Fund’s market price (and not its net asset value), and therefore may be different from the price used in the calculation. Total returns are not annualized.
|
76
|
Nuveen Investments
|
Ratios/Supplemental Data
|
|||||||||||||||||||||||||
Total Returns
|
Ratios to Average Net Assets
Applicable to Common Shares
Before Reimbursement(c)
|
Ratios to Average Net Assets
Applicable to Common Shares
After Reimbursement(c)(d)
|
|||||||||||||||||||||||
Based
on
Market
Value
|
(b)
|
Based
on
Common
Share Net
Asset
Value
|
(b)
|
Ending
Net
Assets
Applicable
to Common
Shares (000
|
)
|
Expenses
|
(e)
|
Net
Investment
Income
(Loss
|
)
|
Expenses
|
(e)
|
Net
Investment
Income
(Loss
|
)
|
Portfolio
Turnover
Rate
|
|||||||||||
4.31
|
%
|
6.19
|
%
|
$
|
69,905
|
3.06
|
%**
|
4.71
|
%**
|
N/A
|
N/A
|
10
|
%
|
||||||||||||
(3.48
|
)
|
3.58
|
67,605
|
2.51
|
5.30
|
N/A
|
N/A
|
6
|
|||||||||||||||||
18.77
|
15.03
|
69,031
|
1.60
|
6.21
|
N/A
|
N/A
|
3
|
||||||||||||||||||
3.54
|
(1.36
|
)
|
63,321
|
1.43
|
7.01
|
N/A
|
N/A
|
1
|
|||||||||||||||||
(.48
|
)
|
2.08
|
67,720
|
1.26
|
6.09
|
N/A
|
N/A
|
14
|
|||||||||||||||||
4.60
|
5.47
|
69,323
|
1.24
|
5.97
|
N/A
|
N/A
|
9
|
||||||||||||||||||
3.17
|
5.71
|
28,223
|
3.16
|
**
|
4.60
|
**
|
3.16
|
%**
|
4.60
|
%**
|
8
|
||||||||||||||
1.87
|
3.05
|
27,465
|
3.08
|
4.83
|
3.03
|
4.88
|
16
|
||||||||||||||||||
7.90
|
12.50
|
28,235
|
1.67
|
6.16
|
1.54
|
6.29
|
11
|
||||||||||||||||||
(.04
|
)
|
(.70
|
)
|
26,530
|
1.54
|
7.09
|
1.33
|
7.30
|
1
|
||||||||||||||||
(5.73
|
)
|
1.55
|
28,135
|
1.32
|
6.11
|
1.05
|
6.39
|
15
|
|||||||||||||||||
10.04
|
5.14
|
29,072
|
1.33
|
5.84
|
.97
|
6.19
|
9
|
(c)
|
Ratios do not reflect the effect of dividend payments to Auction Rate Preferred shareholders, where applicable; Net Investment Income (Loss) ratios reflect income earned and expenses incurred on assets attributable to ARPS and/or MTP Shares, where applicable.
|
(d)
|
After expense reimbursement from the Adviser, where applicable. Ratios do not reflect the effect of custodian fee credits earned on the Fund’s net cash on deposit with the custodian bank, where applicable. As of January 31, 2011, the Adviser is no longer reimbursing Massachusetts Dividend Advantage (NMB) for any fees or expenses.
|
(e)
|
The expense ratios reflect, among other things, all interest expense and other costs related to MTP Shares and/or the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, both as described in Footnote 1 – General Information and Significant Accounting Policies, MuniFund Term Preferred Shares and Inverse Floating Rate Securities, respectively, as follows:
|
Massachusetts Premium Income (NMT)
|
||||
Year Ended 5/31:
|
||||
2012(f)
|
1.77
|
%**
|
||
2011
|
1.28
|
|||
2010
|
.37
|
|||
2009
|
.09
|
|||
2008
|
—
|
|||
2007
|
—
|
|||
Massachusetts Dividend Advantage (NMB)
|
||||
Year Ended 5/31:
|
||||
2012(f)
|
1.71
|
%**
|
||
2011
|
1.75
|
|||
2010
|
.35
|
|||
2009
|
.10
|
|||
2008
|
—
|
|||
2007
|
—
|
(f)
|
For the six months ended November 30, 2011.
|
*
|
Rounds to less than $.01 per share.
|
**
|
Annualized.
|
N/A
|
Fund does not have a contractual reimbursement with the Adviser.
|
Nuveen Investments
|
77
|
Financial
|
||
Highlights (Unaudited) (continued)
|
||
Selected data for a Common share outstanding throughout each period: |
Investment Operations
|
Less Distributions
|
|||||||||||||||||||||||||||||||||
Beginning
Common
Share
Net Asset
Value
|
Net
Investment
Income
(Loss
|
)
|
Net
Realized/
Unrealized
Gain (Loss
|
)
|
Distributions
from Net
Investment
Income to
Auction Rate
Preferred
Share-
holders
|
(a)
|
Distributions
from
Capital
Gains to
Auction Rate
Preferred
Share-
holders
|
(a)
|
Total
|
Net
Investment
Income to
Common
Share-
holders
|
Capital
Gains to
Common
Share-
holders
|
Total
|
Ending
Common
Share
Net Asset
Value
|
Ending
Market
Value
|
||||||||||||||||||||
Insured Massachusetts Tax-Free Advantage (NGX)
|
||||||||||||||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||||||||||||||
2012(f)
|
$
|
14.36
|
$
|
.31
|
$
|
.25
|
$
|
—
|
$
|
—
|
$
|
.56
|
$
|
(.37
|
)
|
$
|
—
|
$
|
(.37
|
)
|
$
|
14.55
|
$
|
13.61
|
||||||||||
2011
|
14.71
|
.64
|
(.23
|
)
|
—
|
—
|
.41
|
(.76
|
)
|
—
|
(.76
|
)
|
14.36
|
13.62
|
||||||||||||||||||||
2010
|
13.86
|
.82
|
.79
|
(.03
|
)
|
—
|
1.58
|
(.73
|
)
|
—
|
(.73
|
)
|
14.71
|
15.79
|
||||||||||||||||||||
2009
|
14.28
|
.91
|
(.50
|
)
|
(.17
|
)
|
—
|
.24
|
(.66
|
)
|
—
|
(.66
|
)
|
13.86
|
13.15
|
|||||||||||||||||||
2008
|
14.50
|
.90
|
(.21
|
)
|
(.26
|
)
|
—
|
.43
|
(.65
|
)
|
—
|
(.65
|
)
|
14.28
|
14.14
|
|||||||||||||||||||
2007
|
14.39
|
.90
|
.08
|
(.25
|
)
|
—
|
.73
|
(.62
|
)
|
—
|
(.62
|
)
|
14.50
|
14.45
|
||||||||||||||||||||
Missouri Premium Income (NOM)
|
||||||||||||||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||||||||||||||
2012(f)
|
13.19
|
.35
|
.59
|
—
|
—
|
.94
|
(.39
|
)
|
—
|
(.39
|
)
|
13.74
|
15.90
|
|||||||||||||||||||||
2011
|
13.55
|
.78
|
(.35
|
)
|
(.01
|
)
|
—
|
.42
|
(.78
|
)
|
—
|
(.78
|
)
|
13.19
|
13.88
|
|||||||||||||||||||
2010
|
12.44
|
.83
|
.99
|
(.03
|
)
|
—
|
1.79
|
(.68
|
)
|
—
|
(.68
|
)
|
13.55
|
16.50
|
||||||||||||||||||||
2009
|
13.52
|
.85
|
(1.12
|
)
|
(.16
|
)
|
—
|
(.43
|
)
|
(.65
|
)
|
—
|
(.65
|
)
|
12.44
|
12.90
|
||||||||||||||||||
2008
|
14.27
|
.89
|
(.62
|
)
|
(.20
|
)
|
(.04
|
)
|
.03
|
(.65
|
)
|
(.13
|
)
|
(.78
|
)
|
13.52
|
14.76
|
|||||||||||||||||
2007
|
14.40
|
.90
|
(.08
|
)
|
(.23
|
)
|
—
|
* |
.59
|
(.72
|
)
|
—
|
* |
(.72
|
)
|
14.27
|
16.56
|
(a)
|
The amounts shown are based on Common share equivalents.
|
(b)
|
Total Return Based on Market Value is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not annualized.
|
Total Return Based on Common Share Net Asset Value is the combination of changes in Common share net asset value, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending net asset value. The actual reinvest price for the last dividend declared in the period may often be based on the Fund’s market price (and not its net asset value), and therefore may be different from the price used in the calculation. Total returns are not annualized.
|
78
|
Nuveen Investments
|
Ratios/Supplemental Data
|
|||||||||||||||||||||||||
Total Returns
|
Ratios to Average Net Assets
Applicable to Common Shares
Before Reimbursement(c)
|
Ratios to Average Net Assets
Applicable to Common Shares
After Reimbursement(c)(d)
|
|||||||||||||||||||||||
Based
on
Market
Value
|
(b)
|
Based
on
Common
Share Net
Asset
Value
|
(b)
|
Ending
Net
Assets
Applicable
to Common
Shares (000
|
)
|
Expenses
|
(e)
|
Net
Investment
Income
(Loss
|
)
|
Expenses
|
(e)
|
Net
Investment
Income
(Loss
|
)
|
Portfolio
Turnover
Rate
|
|||||||||||
2.64
|
%
|
3.91
|
%
|
$
|
39,679
|
3.11
|
%**
|
4.21
|
%**
|
3.11
|
%**
|
4.21
|
%**
|
6
|
%
|
||||||||||
(9.04
|
)
|
2.89
|
39,158
|
3.07
|
4.38
|
3.01
|
4.44
|
4
|
|||||||||||||||||
26.19
|
11.61
|
40,095
|
1.86
|
5.50
|
1.67
|
5.69
|
1
|
||||||||||||||||||
(2.11
|
)
|
2.00
|
37,754
|
1.47
|
6.47
|
1.16
|
6.78
|
0
|
|||||||||||||||||
2.49
|
3.04
|
38,873
|
1.29
|
5.82
|
.85
|
6.25
|
13
|
||||||||||||||||||
12.49
|
5.12
|
39,458
|
1.28
|
5.67
|
.79
|
6.15
|
6
|
||||||||||||||||||
17.70
|
7.18
|
31,905
|
2.97
|
**
|
5.21
|
**
|
N/A
|
N/A
|
6
|
||||||||||||||||
(11.29
|
)
|
3.22
|
30,595
|
2.30
|
5.90
|
N/A
|
N/A
|
11
|
|||||||||||||||||
34.31
|
14.69
|
31,348
|
1.37
|
6.37
|
N/A
|
N/A
|
7
|
||||||||||||||||||
(7.83
|
)
|
(2.92
|
)
|
28,734
|
1.55
|
6.96
|
N/A
|
N/A
|
2
|
||||||||||||||||
(5.74
|
)
|
.26
|
31,170
|
1.52
|
6.43
|
N/A
|
N/A
|
5
|
|||||||||||||||||
5.98
|
4.17
|
32,826
|
1.39
|
6.15
|
N/A
|
N/A
|
16
|
(c)
|
Ratios do not reflect the effect of dividend payments to Auction Rate Preferred shareholders, where applicable; Net Investment Income (Loss) ratios reflect income earned and expenses incurred on assets attributable to ARPS and/or MTP Shares, where applicable.
|
(d)
|
After expense reimbursement from the Adviser, where applicable. Ratios do not reflect the effect of custodian fee credits earned on the Fund’s net cash on deposit with the custodian bank, where applicable. As of November 30, 2010, the Adviser is no longer reimbursing Insured Massachusetts Tax-Free Advantage (NGX) for any fees or expenses.
|
(e)
|
The expense ratios reflect, among other things, all interest expense and other costs related to MTP Shares and/or the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, both as described in Footnote 1 – General Information and Significant Accounting Policies, MuniFund Term Preferred Shares and Inverse Floating Rate Securities, respectively, as follows:
|
Insured Massachusetts Tax-Free Advantage (NGX)
|
||||
Year Ended 5/31:
|
||||
2012(f)
|
1.78
|
%**
|
||
2011
|
1.81
|
|||
2010
|
.57
|
|||
2009
|
.09
|
|||
2008
|
—
|
|||
2007
|
—
|
|||
Missouri Premium Income (NOM)
|
||||
Year Ended 5/31:
|
||||
2012(f)
|
1.59
|
%**
|
||
2011
|
.93
|
|||
2010
|
.03
|
|||
2009
|
.13
|
|||
2008
|
.21
|
|||
2007
|
.09
|
(f)
|
For the six months ended November 30, 2011.
|
*
|
Rounds to less than $.01 per share.
|
**
|
Annualized.
|
N/A
|
Fund does not have a contractual reimbursement with the Adviser.
|
Nuveen Investments
|
79
|
Financial
|
||
Highlights (Unaudited) (continued)
|
ARPS at the End of Period
|
MTP Shares at the End of Period (a)
|
ARPS and
MTP Shares
at the End of Period
|
||||||||||||||||||||
Aggregate
Amount
Outstanding
(000
|
)
|
Liquidation
Value
Per Share
|
Asset
Coverage
Per Share
|
Aggregate
Amount
Outstanding
(000
|
)
|
Liquidation
Value
Per Share
|
Asset
Coverage
Per Share
|
Asset Coverage
Per $1
Liquidation
Preference
|
||||||||||||||
Connecticut Premium Income (NTC)
|
||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||
2012(b)
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
36,080
|
$
|
10.00
|
$
|
31.72
|
$
|
—
|
||||||||
2011
|
—
|
—
|
—
|
36,080
|
10.00
|
31.14
|
—
|
|||||||||||||||
2010
|
15,725
|
25,000
|
82,389
|
18,300
|
10.00
|
32.96
|
3.30
|
|||||||||||||||
2009
|
34,975
|
25,000
|
77,110
|
—
|
—
|
—
|
—
|
|||||||||||||||
2008
|
38,300
|
25,000
|
74,896
|
—
|
—
|
—
|
—
|
|||||||||||||||
2007
|
38,300
|
25,000
|
75,360
|
—
|
—
|
—
|
—
|
|||||||||||||||
Connecticut Dividend Advantage (NFC)
|
||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||
2012(b)
|
—
|
—
|
—
|
20,470
|
10.00
|
28.77
|
—
|
|||||||||||||||
2011
|
—
|
—
|
—
|
20,470
|
10.00
|
28.24
|
—
|
|||||||||||||||
2010
|
—
|
—
|
—
|
20,470
|
10.00
|
28.82
|
—
|
|||||||||||||||
2009
|
18,000
|
25,000
|
75,457
|
—
|
—
|
—
|
—
|
|||||||||||||||
2008
|
19,500
|
25,000
|
73,556
|
—
|
—
|
—
|
—
|
|||||||||||||||
2007
|
19,500
|
25,000
|
73,749
|
—
|
—
|
—
|
—
|
|||||||||||||||
Connecticut Dividend Advantage 2 (NGK)
|
||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||
2012(b)
|
—
|
—
|
—
|
16,950
|
10.00
|
30.28
|
—
|
|||||||||||||||
2011
|
—
|
—
|
—
|
16,950
|
10.00
|
29.75
|
—
|
|||||||||||||||
2010
|
—
|
—
|
—
|
16,950
|
10.00
|
30.55
|
—
|
|||||||||||||||
2009
|
16,125
|
25,000
|
76,305
|
—
|
—
|
—
|
—
|
|||||||||||||||
2008
|
17,500
|
25,000
|
73,840
|
—
|
—
|
—
|
—
|
|||||||||||||||
2007
|
17,500
|
25,000
|
74,094
|
—
|
—
|
—
|
—
|
(a)
|
The Ending and Average Market Value Per Share for each Series of the Fund’s MTP Shares were as follows:
|
Series
|
Ending
Market Value
Per Share
|
Average
Market Value
Per Share
|
Series
|
Ending
Market Value
Per Share
|
Average
Market Value
Per Share
|
||||||||||||||
Connecticut Premium Income (NTC)
|
|||||||||||||||||||
Year Ended 5/31:
|
|||||||||||||||||||
2012(b)
|
2015
|
$
|
10.12
|
$
|
10.08
|
2016
|
$
|
10.03
|
$
|
10.04
|
|||||||||
2011
|
2015
|
10.07
|
10.04
|
2016
|
10.00
|
9.88
|
^^^
|
||||||||||||
2010
|
2015
|
10.00
|
10.02
|
^ |
—
|
—
|
—
|
||||||||||||
2009
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||
2008
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||
2007
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||
Connecticut Dividend Advantage (NFC)
|
|||||||||||||||||||
Year Ended 5/31:
|
|||||||||||||||||||
2012(b)
|
2015
|
10.05
|
10.06
|
—
|
—
|
—
|
|||||||||||||
2011
|
2015
|
13.85
|
14.24
|
—
|
—
|
—
|
|||||||||||||
2010
|
2015
|
9.98
|
9.95
|
^^ |
—
|
—
|
—
|
||||||||||||
2009
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||
2008
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||
2007
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||
Connecticut Dividend Advantage 2 (NGK)
|
|||||||||||||||||||
Year Ended 5/31:
|
|||||||||||||||||||
2012(b)
|
2015
|
10.05
|
10.07
|
—
|
—
|
—
|
|||||||||||||
2011
|
2015
|
13.96
|
14.62
|
—
|
—
|
—
|
|||||||||||||
2010
|
2015
|
9.97
|
9.96
|
^^ |
—
|
—
|
—
|
||||||||||||
2009
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||
2008
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||
2007
|
—
|
—
|
—
|
—
|
—
|
—
|
(b)
|
For the six months ended November 30, 2011.
|
^
|
For the period January 19, 2010 (first issuance date of shares) through May 31, 2010.
|
^^
|
For the period March 31, 2010 (first issuance date of shares) through May 31, 2010.
|
^^^
|
For the period December 15, 2010 (first issuance date of shares) through May 31, 2011.
|
80
|
Nuveen Investments
|
ARPS at the End of Period
|
MTP Shares at the End of Period (a)
|
ARPS and
MTP Shares
at the End of Period
|
||||||||||||||||||||
Aggregate
Amount
Outstanding
(000
|
)
|
Liquidation
Value
Per Share
|
Asset
Coverage
Per Share
|
Aggregate
Amount
Outstanding
(000
|
)
|
Liquidation
Value
Per Share
|
Asset
Coverage
Per Share
|
Asset Coverage
Per $1
Liquidation
Preference
|
||||||||||||||
Connecticut Dividend Advantage 3 (NGO)
|
||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||
2012(b)
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
32,000
|
$
|
10.00
|
$
|
29.71
|
$
|
—
|
||||||||
2011
|
—
|
—
|
—
|
32,000
|
10.00
|
29.21
|
—
|
|||||||||||||||
2010
|
—
|
—
|
—
|
32,000
|
10.00
|
29.71
|
—
|
|||||||||||||||
2009
|
30,025
|
25,000
|
74,329
|
—
|
—
|
—
|
—
|
|||||||||||||||
2008
|
32,000
|
25,000
|
73,028
|
—
|
—
|
—
|
—
|
|||||||||||||||
2007
|
32,000
|
25,000
|
73,691
|
—
|
—
|
—
|
—
|
|||||||||||||||
Massachusetts Premium Income (NMT)
|
||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||
2012(b)
|
—
|
—
|
—
|
36,645
|
10.00
|
29.08
|
—
|
|||||||||||||||
2011
|
—
|
—
|
—
|
36,645
|
10.00
|
28.45
|
—
|
|||||||||||||||
2010
|
14,400
|
25,000
|
74,863
|
20,210
|
10.00
|
29.95
|
2.99
|
|||||||||||||||
2009
|
34,000
|
25,000
|
71,559
|
—
|
—
|
—
|
—
|
|||||||||||||||
2008
|
34,000
|
25,000
|
74,794
|
—
|
—
|
—
|
—
|
|||||||||||||||
2007
|
34,000
|
25,000
|
75,973
|
—
|
—
|
—
|
—
|
|||||||||||||||
Massachusetts Dividend Advantage (NMB)
|
||||||||||||||||||||||
Year Ended 5/31:
|
||||||||||||||||||||||
2012(b)
|
—
|
—
|
—
|
14,725
|
10.00
|
29.17
|
—
|
|||||||||||||||
2011
|
—
|
—
|
—
|
14,725
|
10.00
|
28.65
|
—
|
|||||||||||||||
2010
|
—
|
—
|
—
|
14,725
|
10.00
|
29.18
|
—
|
|||||||||||||||
2009
|
14,250
|
25,000
|
71,544
|
—
|
—
|
—
|
—
|
|||||||||||||||
2008
|
15,000
|
25,000
|
71,892
|
—
|
—
|
—
|
||||||||||||||||
2007
|
15,000
|
25,000
|
73,453
|
—
|
—
|
—
|
—
|
(a)
|
The Ending and Average Market Value Per Share for each Series of the Fund’s MTP Shares were as follows:
|
Ending
|
Average
|
Ending
|
Average
|
||||||||||||||||
Market Value
|
Market Value
|
Market Value
|
Market Value
|
||||||||||||||||
Series
|
Per Share
|
Per Share
|
Series
|
Per Share
|
Per Share
|
||||||||||||||
Connecticut Dividend Advantage 3 (NGO)
|
|||||||||||||||||||
Year Ended 5/31:
|
|||||||||||||||||||
2012(b)
|
2015
|
$
|
10.07
|
$
|
10.07
|
—
|
$
|
—
|
$
|
—
|
|||||||||
2011
|
2015
|
12.89
|
13.47
|
—
|
—
|
—
|
|||||||||||||
2010
|
2015
|
10.00
|
9.99
|
Ω |
—
|
—
|
—
|
||||||||||||
2009
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||
2008
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||
2007
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||
Massachusetts Premium Income (NMT)
|
|||||||||||||||||||
Year Ended 5/31:
|
|||||||||||||||||||
2012(b)
|
2015
|
10.06
|
10.07
|
2016
|
10.07
|
10.06
|
|||||||||||||
2011
|
2015
|
10.02
|
10.02
|
2016
|
10.00
|
9.97
|
ΩΩΩΩ | ||||||||||||
2010
|
2015
|
10.00
|
10.00
|
ΩΩ |
—
|
—
|
—
|
||||||||||||
2009
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||
2008
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||
2007
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||
Massachusetts Dividend Advantage (NMB)
|
|||||||||||||||||||
Year Ended 5/31:
|
|||||||||||||||||||
2012(b)
|
2015
|
10.04
|
10.06
|
—
|
—
|
—
|
|||||||||||||
2011
|
2015
|
13.53
|
14.03
|
—
|
—
|
—
|
|||||||||||||
2010
|
2015
|
9.98
|
9.95
|
ΩΩΩ |
—
|
—
|
—
|
||||||||||||
2009
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||
2008
|
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||
2007
|
—
|
—
|
—
|
—
|
—
|
—
|
(b)
|
For the six months ended November 30, 2011.
|
Ω
|
For the period February 10, 2010 (first issuance date of shares) through May 31, 2010.
|
ΩΩ
|
For the period January 21, 2010 (first issuance date of shares) through May 31, 2010.
|
ΩΩΩ
|
For the period March 23, 2010 (first issuance date of shares) through May 31, 2010.
|
ΩΩΩΩ | For the period January 20, 2011 (first issuance date of shares) through May 31, 2011. |
Nuveen Investments
|
81
|
Financial
|
||
Highlights (Unaudited) (continued)
|
ARPS at the End of Period
|
MTP Shares at the End of Period (a)
|
||||||||||||||||||
Aggregate
Amount
Outstanding
(000
|
)
|
Liquidation
Value
Per Share
|
Asset
Coverage
Per Share
|
Aggregate
Amount
Outstanding
(000
|
)
|
Liquidation
Value
Per Share
|
Asset
Coverage
Per Share
|
||||||||||||
Insured Massachusetts Tax-Free Advantage (NGX)
|
|||||||||||||||||||
Year Ended 5/31:
|
|||||||||||||||||||
2012(b)
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
22,075
|
$
|
10.00
|
$
|
27.97
|
|||||||
2011
|
—
|
—
|
—
|
22,075
|
10.00
|
27.74
|
|||||||||||||
2010
|
—
|
—
|
—
|
22,075
|
10.00
|
28.16
|
|||||||||||||
2009
|
20,500
|
25,000
|
71,042
|
—
|
—
|
—
|
|||||||||||||
2008
|
20,500
|
25,000
|
72,407
|
—
|
—
|
—
|
|||||||||||||
2007
|
20,500
|
25,000
|
73,120
|
—
|
—
|
—
|
|||||||||||||
Missouri Premium Income (NOM)
|
|||||||||||||||||||
Year Ended 5/31:
|
|||||||||||||||||||
2012(b)
|
—
|
—
|
—
|
17,880
|
10.00
|
27.84
|
|||||||||||||
2011
|
—
|
—
|
—
|
17,880
|
10.00
|
27.11
|
|||||||||||||
2010
|
16,000
|
25,000
|
73,981
|
—
|
—
|
—
|
|||||||||||||
2009
|
16,000
|
25,000
|
69,897
|
—
|
—
|
—
|
|||||||||||||
2008
|
16,000
|
25,000
|
73,703
|
—
|
—
|
—
|
|||||||||||||
2007
|
16,000
|
25,000
|
76,291
|
—
|
—
|
—
|
(a)
|
The Ending and Average Market Value Per Share for each Series of the Fund’s MTP Shares were as follows:
|
Ending
|
Average
|
|||||||||
Market Value
|
Market Value
|
|||||||||
Series
|
Per Share
|
Per Share
|
||||||||
Insured Massachusetts Tax-Free Advantage (NGX)
|
||||||||||
Year Ended 5/31:
|
||||||||||
2012(b)
|
2015
|
$
|
10.10
|
$
|
10.08
|
|||||
2011
|
2015
|
13.62
|
14.48
|
|||||||
2010
|
2015
|
10.00
|
9.98
|
^ | ||||||
2009
|
—
|
—
|
—
|
|||||||
2008
|
—
|
—
|
—
|
|||||||
2007
|
—
|
—
|
—
|
|||||||
Missouri Premium Income (NOM)
|
||||||||||
Year Ended 5/31:
|
||||||||||
2012(b)
|
2015
|
10.03
|
9.94
|
|||||||
2011
|
2015
|
13.88
|
15.41
|
^^ | ||||||
2010
|
—
|
—
|
—
|
|||||||
2009
|
—
|
—
|
—
|
|||||||
2008
|
—
|
—
|
—
|
|||||||
2007
|
—
|
—
|
—
|
(b)
|
For the six months ended November 30, 2011.
|
^
|
For the period February 9, 2010 (first issuance date of shares) through May 31, 2010.
|
^^
|
For the period November 9, 2010 (first issuance date of shares) through May 31, 2011.
|
82
|
Nuveen Investments
|
Notes to
|
||
Financial Statements (Unaudited)
|
●
|
Lower Fund expense ratios (excluding the effects of leverage), as fixed costs are spread over a larger asset base;
|
|
●
|
Enhanced secondary market trading, as larger Funds potentially make it easier for investors to buy and sell Fund shares;
|
|
●
|
Lower per share trading costs through reduced bid/ask spreads due to a larger common share float; and
|
|
●
|
Increased Fund flexibility in managing the structure and cost of leverage over time.
|
Acquired Funds
|
Acquiring Fund
|
Connecticut Dividend Advantage (NFC)
|
Connecticut Premium Income (NTC)
|
Connecticut Dividend Advantage 2 (NGK)
|
|
Connecticut Dividend Advantage 3 (NGO)
|
Nuveen Investments
|
83
|
Notes to
|
||
Financial Statements (Unaudited) (continued)
|
84
|
Nuveen Investments
|
Connecticut Premium Income (NTC)
|
Connecticut Dividend Advantage (NFC)
|
||||||||||||||||||
Shares
Outstanding
|
Annual
Interest
Rate
|
NYSE
Ticker
|
Shares
Outstanding
|
Annual
Interest
Rate
|
NYSE
Ticker
|
||||||||||||||
Series
|
|||||||||||||||||||
2015
|
1,830,000
|
2.65
|
%
|
NTC Pr C
|
2,047,000
|
2.60
|
%
|
NFC Pr C
|
|||||||||||
2016
|
1,778,000
|
2.55
|
NTC Pr D
|
—
|
—
|
—
|
Connecticut Dividend Advantage 2 (NGK)
|
Connecticut Dividend Advantage 3 (NGO)
|
||||||||||||||||||
Shares
Outstanding
|
Annual
Interest
Rate
|
NYSE
Ticker
|
Shares
Outstanding
|
Annual
Interest
Rate
|
NYSE
Ticker
|
||||||||||||||
Series 2015
|
1,695,000
|
2.60
|
%
|
NGK Pr C
|
3,200,000
|
2.65
|
%
|
NGO Pr C
|
Massachusetts Premium Income (NMT)
|
Massachusetts Dividend Advantage (NMB)
|
||||||||||||||||||
Shares
Outstanding
|
Annual
Interest
Rate
|
NYSE
Ticker
|
Shares
Outstanding
|
Annual
Interest
Rate
|
NYSE
Ticker
|
||||||||||||||
Series
|
|||||||||||||||||||
2015
|
2,021,000
|
2.65
|
%
|
NMT Pr C
|
1,472,500
|
2.60
|
%
|
NMB Pr C
|
|||||||||||
2016
|
1,643,500
|
2.75
|
NMT Pr D
|
—
|
—
|
—
|
Insured Massachusetts Tax-Free Advantage (NGX)
|
Missouri Premium Income (NOM)
|
||||||||||||||||||
Shares
Outstanding
|
Annual
Interest
Rate
|
NYSE
Ticker
|
Shares
Outstanding
|
Annual
Interest
Rate
|
NYSE
Ticker
|
||||||||||||||
Series 2015
|
2,207,500
|
2.65
|
%
|
NGX Pr C
|
1,788,000
|
2.10
|
%
|
NOM Pr C
|
Nuveen Investments
|
85
|
Notes to
|
||
Financial Statements (Unaudited) (continued)
|
Connecticut
|
Connecticut
|
Connecticut
|
Connecticut
|
Connecticut
|
||||||||||||
Premium
|
Premium
|
Dividend
|
Dividend
|
Dividend
|
||||||||||||
Income
|
Income
|
Advantage
|
Advantage 2
|
Advantage 3
|
||||||||||||
(NTC
|
)
|
(NTC
|
)
|
(NFC
|
)
|
(NGK
|
)
|
(NGO
|
)
|
|||||||
Series 2015
|
Series 2016
|
Series 2015
|
Series 2015
|
Series 2015
|
||||||||||||
Term Redemption Date
|
February 1, 2015
|
January 1, 2016
|
April 1, 2015
|
April 1, 2015
|
March 1, 2015
|
|||||||||||
Optional Redemption Date
|
February 1, 2011
|
January 1, 2012
|
April 1, 2011
|
April 1, 2011
|
March 1, 2011
|
|||||||||||
Premium Expiration Date
|
January 31, 2012
|
December 31, 2012
|
March 31, 2012
|
March 31, 2012
|
February 29, 2012
|
Insured
|
||||||||||||||||
Massachusetts
|
Massachusetts
|
Massachusetts
|
Massachusetts
|
Missouri
|
||||||||||||
Premium
|
Premium
|
Dividend
|
Tax-Free
|
Premium
|
||||||||||||
Income
|
Income
|
Advantage
|
Advantage
|
Income
|
||||||||||||
(NMT
|
)
|
(NMT
|
)
|
(NMB
|
)
|
(NGX
|
)
|
(NOM
|
)
|
|||||||
Series 2015
|
Series 2016
|
Series 2015
|
Series 2015
|
Series 2015
|
||||||||||||
Term Redemption Date
|
February 1, 2015
|
February 1, 2016
|
April 1, 2015
|
March 1, 2015
|
December 1, 2015
|
|||||||||||
Optional Redemption Date
|
February 1, 2011
|
February 1, 2012
|
April 1, 2011
|
March 1, 2011
|
December 1, 2011
|
|||||||||||
Premium Expiration Date
|
January 31, 2012
|
January 31, 2013
|
March 31, 2012
|
February 29, 2012
|
November 30, 2012
|
Connecticut
|
Connecticut
|
Connecticut
|
Connecticut
|
||||||||||
Premium
|
Dividend
|
Dividend
|
Dividend
|
||||||||||
Income
|
Advantage
|
Advantage 2
|
Advantage 3
|
||||||||||
(NTC
|
)
|
(NFC
|
)
|
(NGK
|
)
|
(NGO
|
)
|
||||||
Average liquidation value of MTP Shares outstanding
|
$
|
36,080,000
|
$
|
20,470,000
|
$
|
16,950,000
|
$
|
32,000,000
|
Insured
|
|||||||||||||
Massachusetts
|
Massachusetts
|
Massachusetts
|
Missouri
|
||||||||||
Premium
|
Dividend
|
Tax-Free
|
Premium
|
||||||||||
Income
|
Advantage
|
Advantage
|
Income
|
||||||||||
(NMT
|
)
|
(NMB
|
)
|
(NGX
|
)
|
(NOM
|
)
|
||||||
Average liquidation value of MTP Shares outstanding
|
$
|
36,645,000
|
$
|
14,725,000
|
$
|
22,075,000
|
$
|
17,880,000
|
86
|
Nuveen Investments
|
Connecticut
|
Connecticut
|
Connecticut
|
Connecticut
|
||||||||||
Premium
|
Dividend
|
Dividend
|
Dividend
|
||||||||||
Income
|
Advantage
|
Advantage 2
|
Advantage 3
|
||||||||||
(NTC
|
)
|
(NFC
|
)
|
(NGK
|
)
|
(NGO
|
)
|
||||||
Average floating rate obligations outstanding
|
$
|
7,965,000
|
$
|
3,820,000
|
$
|
3,460,000
|
$
|
5,780,000
|
|||||
Average annual interest rate and fees
|
0.64
|
%
|
0.64
|
%
|
0.64
|
%
|
0.62
|
%
|
Insured
|
|||||||||||||
Massachusetts
|
Massachusetts
|
Massachusetts
|
Missouri
|
||||||||||
Premium
|
Dividend
|
Tax-Free
|
Premium
|
||||||||||
Income
|
Advantage
|
Advantage
|
Income
|
||||||||||
(NMT
|
)
|
(NMB
|
)
|
(NGX
|
)
|
(NOM
|
)
|
||||||
Average floating rate obligations outstanding
|
$
|
2,385,738
|
$
|
1,018,251
|
$
|
1,419,454
|
$
|
2,225,000
|
|||||
Average annual interest rate and fees
|
0.49
|
%
|
0.49
|
%
|
0.50
|
%
|
0.32
|
%
|
Nuveen Investments
|
87
|
Notes to
|
||
Financial Statements (Unaudited) (continued)
|
Connecticut
|
Connecticut
|
Connecticut
|
Connecticut
|
||||||||||
Premium
|
Dividend
|
Dividend
|
Dividend
|
||||||||||
Income
|
Advantage
|
Advantage 2
|
Advantage 3
|
||||||||||
(NTC
|
)
|
(NFC
|
)
|
(NGK
|
)
|
(NGO
|
)
|
||||||
MTP Shares offering costs
|
$
|
1,131,200
|
$
|
567,050
|
$
|
504,250
|
$
|
750,000
|
Insured
|
|||||||||||||
Massachusetts
|
Massachusetts
|
Massachusetts
|
Missouri
|
||||||||||
Premium
|
Dividend
|
Tax-Free
|
Premium
|
||||||||||
Income
|
Advantage
|
Advantage
|
Income
|
||||||||||
(NMT
|
)
|
(NMB
|
)
|
(NGX
|
)
|
(NOM
|
)
|
||||||
MTP Shares offering costs
|
$
|
1,139,675
|
$
|
465,875
|
$
|
571,125
|
$
|
598,200
|
88
|
Nuveen Investments
|
Level 1 –
|
Quoted prices in active markets for identical securities.
|
|
Level 2 –
|
Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
|
|
Level 3 –
|
Significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
|
Connecticut Premium Income (NTC)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Investments:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
120,713,593
|
$
|
—
|
$
|
120,713,593
|
Connecticut Dividend Advantage (NFC)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Investments:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
61,757,328
|
$
|
—
|
$
|
61,757,328
|
Connecticut Dividend Advantage 2 (NGK)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Investments:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
53,855,427
|
$
|
—
|
$
|
53,855,427
|
Connecticut Dividend Advantage 3 (NGO)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Investments:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
99,478,311
|
$
|
—
|
$
|
99,478,311
|
Massachusetts Premium Income (NMT)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Investments:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
106,102,961
|
$
|
—
|
$
|
106,102,961
|
Massachusetts Dividend Advantage (NMB)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Investments:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
42,155,299
|
$
|
274,970
|
$
|
42,430,269
|
Insured Massachusetts Tax-Free Advantage (NGX)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Investments:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
60,758,843
|
$
|
—
|
$
|
60,758,843
|
Missouri Premium Income (NOM)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Investments:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
51,232,103
|
$
|
—
|
$
|
51,232,103
|
Nuveen Investments
|
89
|
Notes to
|
||
Financial Statements (Unaudited) (continued)
|
Massachusetts
|
||||
Dividend
|
||||
Advantage
|
||||
(NMB
|
)
|
|||
Level 3
|
||||
Municipal
|
||||
Bonds
|
||||
Balance at the beginning of period
|
$
|
—
|
||
Gains (losses):
|
||||
Net realized gains (losses)
|
—
|
|||
Net change in unrealized appreciation (depreciation)
|
—
|
|||
Purchases at cost
|
—
|
|||
Sales at proceeds
|
—
|
|||
Net discounts (premiums)
|
—
|
|||
Transfers in to
|
274,970
|
|||
Transfers out of
|
—
|
|||
Balance at the end of period
|
$
|
274,970
|
||
Change in net unrealized appreciation (depreciation) during the period of Level 3 securities held as of November 30, 2011
|
$
|
(103,701
|
)
|
Connecticut
Premium Income (NTC)
|
Connecticut
Dividend Advantage (NFC)
|
Connecticut
Dividend Advantage 2 (NGK)
|
|||||||||||||||||
Six Months
|
Year
|
Six Months
|
Year
|
Six Months
|
Year
|
||||||||||||||
Ended
|
Ended
|
Ended
|
Ended
|
Ended
|
Ended
|
||||||||||||||
11/30/11
|
5/31/11
|
11/30/11
|
5/31/11
|
11/30/11
|
5/31/11
|
||||||||||||||
Common shares issued to shareholders due to reinvestment of distributions
|
—
|
—
|
—
|
1,764
|
194
|
1,073
|
Connecticut
Dividend Advantage 3 (NGO)
|
Massachusetts
Premium Income (NMT)
|
Massachusetts
Dividend Advantage (NMB)
|
|||||||||||||||||
Six Months
|
Year
|
Six Months
|
Year
|
Six Months
|
Year
|
||||||||||||||
Ended
|
Ended
|
Ended
|
Ended
|
Ended
|
Ended
|
||||||||||||||
11/30/11
|
5/31/11
|
11/30/11
|
5/31/11
|
11/30/11
|
5/31/11
|
||||||||||||||
Common shares issued to shareholders due to reinvestment of distributions
|
—
|
—
|
—
|
6,872
|
—
|
1,746
|
Insured Massachusetts
Tax-Free Advantage (NGX)
|
Missouri
Premium Income (NOM)
|
||||||||||||
Six Months
|
Year
|
Six Months
|
Year
|
||||||||||
Ended
|
Ended
|
Ended
|
Ended
|
||||||||||
11/30/11
|
5/31/11
|
11/30/11
|
5/31/11
|
||||||||||
Common shares issued to shareholders due to reinvestment of distributions
|
—
|
1,124
|
2,613
|
4,733
|
90
|
Nuveen Investments
|
Connecticut Premium Income (NTC)
|
Massachusetts Premium Income (NMT)
|
||||||||||||||||||||||||
Six Months Ended
11/30/11
|
Year Ended
5/31/11
|
Six Months Ended
11/30/11
|
Year Ended
5/31/11
|
||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
||||||||||||||||||
ARPS redeemed:
|
|||||||||||||||||||||||||
Series TH
|
N/A
|
N/A
|
629
|
$
|
15,725,000
|
N/A
|
N/A
|
576
|
$
|
14,400,000
|
Missouri Premium Income (NOM)
|
|||||||||||||
Six Months Ended
11/30/11
|
Year Ended
5/31/11
|
||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
||||||||||
ARPS redeemed:
|
|||||||||||||
Series TH
|
N/A
|
N/A
|
640
|
$
|
16,000,000
|
Connecticut
Premium Income (NTC)
|
|||||||||||||
Six Months Ended
11/30/11
|
Year Ended
5/31/11
|
||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
||||||||||
MTP Shares issued:
|
|||||||||||||
Series 2015
|
—
|
$
|
—
|
—
|
$
|
—
|
|||||||
Series 2016
|
—
|
—
|
1,778,000
|
17,780,000
|
|||||||||
Total
|
—
|
$
|
—
|
1,778,000
|
$
|
17,780,000
|
Connecticut
Dividend Advantage 2 (NGK)
|
Connecticut
Dividend Advantage 3 (NGO)
|
||||||||||||||||||||||||
Six Months Ended
11/30/11
|
Year Ended
5/31/11
|
Six Months Ended
11/30/11
|
Year Ended
5/31/11
|
||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
||||||||||||||||||
MTP Shares issued:
|
|||||||||||||||||||||||||
Series 2015
|
—
|
$
|
—
|
—
|
$
|
—
|
—
|
$
|
—
|
—
|
$
|
—
|
Massachusetts
Premium Income (NMT)
|
Massachusetts
Dividend Advantage (NMB)
|
||||||||||||||||||||||||
Six Months Ended
11/30/11
|
Year Ended
5/31/11
|
Six Months Ended
11/30/11
|
Year Ended
5/31/11
|
||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
||||||||||||||||||
MTP Shares issued:
|
|||||||||||||||||||||||||
Series 2015
|
—
|
$
|
—
|
—
|
$
|
—
|
—
|
$
|
—
|
—
|
$
|
—
|
|||||||||||||
Series 2016
|
—
|
—
|
1,643,500
|
16,435,00
|
—
|
—
|
—
|
—
|
|||||||||||||||||
Total
|
—
|
$
|
—
|
1,643,500
|
$
|
16,435,000
|
—
|
$
|
—
|
—
|
$
|
—
|
Nuveen Investments
|
91
|
Notes to
|
||
Financial Statements (Unaudited) (continued)
|
Insured Massachusetts
Tax-Free Advantage (NGX)
|
Missouri
Premium Income (NOM)
|
||||||||||||||||||||||||
Six Months Ended
11/30/11
|
Year Ended
5/31/11
|
Six Months Ended
11/30/11
|
Year Ended
5/31/11
|
||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
||||||||||||||||||
MTP Shares issued:
|
|||||||||||||||||||||||||
Series 2015
|
—
|
$
|
—
|
—
|
$
|
—
|
—
|
$
|
—
|
1,788,000
|
$
|
17,880,000
|
Connecticut
|
Connecticut
|
Connecticut
|
Connecticut
|
||||||||||
Premium
|
Dividend
|
Dividend
|
Dividend
|
||||||||||
Income
|
Advantage
|
Advantage 2
|
Advantage 3
|
||||||||||
(NTC
|
)
|
(NFC
|
)
|
(NGK
|
)
|
(NGO
|
)
|
||||||
Purchases
|
$
|
9,456,187
|
$
|
7,068,883
|
$
|
3,910,233
|
$
|
7,857,173
|
|||||
Sales and maturities
|
8,086,227
|
5,452,875
|
4,059,503
|
6,828,353
|
Insured
|
|||||||||||||
Massachusetts
|
Massachusetts
|
Massachusetts
|
Missouri
|
||||||||||
Premium
|
Dividend
|
Tax-Free
|
Premium
|
||||||||||
Income
|
Advantage
|
Advantage
|
Income
|
||||||||||
(NMT
|
)
|
(NMB
|
)
|
(NGX
|
)
|
(NOM
|
)
|
||||||
Purchases
|
$
|
10,370,621
|
$
|
3,202,593
|
$
|
3,386,688
|
$
|
4,387,245
|
|||||
Sales and maturities
|
11,302,219
|
3,242,087
|
4,696,338
|
3,031,624
|
Connecticut
|
Connecticut
|
Connecticut
|
Connecticut
|
||||||||||
Premium
|
Dividend
|
Dividend
|
Dividend
|
||||||||||
Income
|
Advantage
|
Advantage 2
|
Advantage 3
|
||||||||||
(NTC
|
)
|
(NFC
|
)
|
(NGK
|
)
|
(NGO
|
)
|
||||||
Cost of investments
|
$
|
109,540,664
|
$
|
56,313,878
|
$
|
48,928,498
|
$
|
91,709,396
|
|||||
Gross unrealized:
|
|||||||||||||
Appreciation
|
$
|
4,273,767
|
$
|
2,037,158
|
$
|
1,869,966
|
$
|
3,156,292
|
|||||
Depreciation
|
(1,064,984
|
)
|
(414,730
|
)
|
(403,763
|
)
|
(1,166,509
|
)
|
|||||
Net unrealized appreciation (depreciation) of investments
|
$
|
3,208,783
|
$
|
1,622,428
|
$
|
1,466,203
|
$
|
1,989,783
|
Insured
|
|||||||||||||
Massachusetts
|
Massachusetts
|
Massachusetts
|
Missouri
|
||||||||||
Premium
|
Dividend
|
Tax-Free
|
Premium
|
||||||||||
Income
|
Advantage
|
Advantage
|
Income
|
||||||||||
(NMT
|
)
|
(NMB
|
)
|
(NGX
|
)
|
(NOM
|
)
|
||||||
Cost of investments
|
$
|
102,136,831
|
$
|
41,357,885
|
$
|
58,379,463
|
$
|
48,363,695
|
|||||
Gross unrealized:
|
|||||||||||||
Appreciation
|
$
|
4,003,709
|
$
|
1,400,970
|
$
|
2,197,611
|
$
|
1,524,625
|
|||||
Depreciation
|
(1,472,148
|
)
|
(889,051
|
)
|
(158,199
|
)
|
(881,010
|
)
|
|||||
Net unrealized appreciation (depreciation) of investments
|
$
|
2,531,561
|
$
|
511,919
|
$
|
2,039,412
|
$
|
643,615
|
92
|
Nuveen Investments
|
Connecticut
|
Connecticut
|
Connecticut
|
Connecticut
|
||||||||||
Premium
|
Dividend
|
Dividend
|
Dividend
|
||||||||||
Income
|
Advantage
|
Advantage 2
|
Advantage 3
|
||||||||||
(NTC
|
)
|
(NFC
|
)
|
(NGK
|
)
|
(NGO
|
)
|
||||||
Paid-in surplus
|
$
|
(128,552
|
)
|
$
|
(102,128
|
)
|
$
|
(100,191
|
)
|
$
|
(148,292
|
)
|
|
Undistributed (Over-distribution of) net investment income
|
158,721
|
106,510
|
100,685
|
148,292
|
|||||||||
Accumulated net realized gain (loss)
|
(30,169
|
)
|
(4,382
|
)
|
(494
|
)
|
—
|
Insured
|
|||||||||||||
Massachusetts
|
Massachusetts
|
Massachusetts
|
Missouri
|
||||||||||
Premium
|
Dividend
|
Tax-Free
|
Premium
|
||||||||||
Income
|
Advantage
|
Advantage
|
Income
|
||||||||||
(NMT
|
)
|
(NMB
|
)
|
(NGX
|
)
|
(NOM
|
)
|
||||||
Paid-in surplus
|
$
|
(148,395
|
)
|
$
|
(45,873
|
)
|
$
|
(112,064
|
)
|
$
|
(64,868
|
)
|
|
Undistributed (Over-distribution of) net investment income
|
150,270
|
75,743
|
111,912
|
63,765
|
|||||||||
Accumulated net realized gain (loss)
|
(1,875
|
)
|
(29,870
|
)
|
152
|
1,103
|
Connecticut
|
Connecticut
|
Connecticut
|
Connecticut
|
||||||||||
Premium
|
Dividend
|
Dividend
|
Dividend
|
||||||||||
Income
|
Advantage
|
Advantage 2
|
Advantage 3
|
||||||||||
(NTC
|
)
|
(NFC
|
)
|
(NGK
|
)
|
(NGO
|
)
|
||||||
Undistributed net tax-exempt income*
|
$
|
1,264,582
|
$
|
467,751
|
$
|
370,951
|
$
|
579,588
|
|||||
Undistributed net ordinary income **
|
2,329
|
6,690
|
1,014
|
—
|
|||||||||
Undistributed net long-term capital gains
|
129,612
|
104,027
|
40,075
|
—
|
Insured
|
|||||||||||||
Massachusetts
|
Massachusetts
|
Massachusetts
|
Missouri
|
||||||||||
Premium
|
Dividend
|
Tax-Free
|
Premium
|
||||||||||
Income
|
Advantage
|
Advantage
|
Income
|
||||||||||
(NMT
|
)
|
(NMB
|
)
|
(NGX
|
)
|
(NOM
|
)
|
||||||
Undistributed net tax-exempt income*
|
$
|
1,177,287
|
$
|
273,241
|
$
|
351,879
|
$
|
631,129
|
|||||
Undistributed net ordinary income **
|
791
|
234
|
—
|
—
|
|||||||||
Undistributed net long-term capital gains
|
108,999
|
—
|
—
|
—
|
*
|
Undistributed net tax-exempt income (on a tax basis) has not been reduced for the dividend declared May 2, 2011, paid on June 1, 2011.
|
**
|
Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.
|
Connecticut
|
Connecticut
|
Connecticut
|
Connecticut
|
||||||||||
Premium
|
Dividend
|
Dividend
|
Dividend
|
||||||||||
Income
|
Advantage
|
Advantage 2
|
Advantage 3
|
||||||||||
(NTC
|
)
|
(NFC
|
)
|
(NGK
|
)
|
(NGO
|
)
|
||||||
Distributions from net tax-exempt income
|
$
|
4,494,227
|
$
|
2,517,939
|
$
|
2,278,037
|
$
|
3,992,324
|
|||||
Distributions from net ordinary income **
|
—
|
—
|
—
|
—
|
|||||||||
Distributions from net long-term capital gains
|
—
|
—
|
—
|
—
|
Nuveen Investments
|
93
|
Notes to
|
||
Financial Statements (Unaudited) (continued)
|
Insured
|
|||||||||||||
Massachusetts
|
Massachusetts
|
Massachusetts
|
Missouri
|
||||||||||
Premium
|
Dividend
|
Tax-Free
|
Premium
|
||||||||||
Income
|
Advantage
|
Advantage
|
Income
|
||||||||||
(NMT
|
)
|
(NMB
|
)
|
(NGX
|
)
|
(NOM
|
)
|
||||||
Distributions from net tax-exempt income
|
$
|
4,427,025
|
$
|
2,009,854
|
$
|
2,646,325
|
$
|
2,005,649
|
|||||
Distributions from net ordinary income **
|
—
|
—
|
—
|
—
|
|||||||||
Distributions from net long-term capital gains
|
179,625
|
—
|
—
|
—
|
**
|
Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.
|
Insured
|
|||||||||||||
Connecticut
|
Massachusetts
|
Massachusetts
|
Missouri
|
||||||||||
Dividend
|
Dividend
|
Tax-Free
|
Premium
|
||||||||||
Advantage 3
|
Advantage
|
Advantage
|
Income
|
||||||||||
(NGO
|
)
|
(NMB
|
)
|
(NGX
|
)
|
(NOM
|
)
|
||||||
Expiration:
|
|||||||||||||
May 31, 2013
|
$
|
35,547
|
$
|
—
|
$
|
18,655
|
$
|
—
|
|||||
May 31, 2014
|
111,331
|
—
|
427,135
|
—
|
|||||||||
May 31, 2015
|
211,213
|
—
|
—
|
—
|
|||||||||
May 31, 2017
|
43,691
|
—
|
215,629
|
122,533
|
|||||||||
May 31, 2018
|
13,130
|
—
|
24,486
|
91,539
|
|||||||||
May 31, 2019
|
—
|
138,353
|
18,813
|
—
|
|||||||||
Total
|
$
|
414,912
|
$
|
138,353
|
$
|
704,718
|
$
|
214,072
|
Connecticut
|
Missouri
|
||||||
Dividend
|
Premium
|
||||||
Advantage 3
|
Income
|
||||||
(NGO
|
)
|
(NOM
|
)
|
||||
Utilized capital loss carryforwards
|
$
|
95
|
$
|
138,449
|
Insured
|
||||
Massachusetts
|
||||
Tax-Free
|
||||
Advantage
|
||||
(NGX
|
)
|
|||
Post-October capital losses
|
$
|
3,879
|
Connecticut Premium Income (NTC
|
)
|
|
Massachusetts Premium Income (NMT
|
)
|
|
Missouri Premium Income (NOM
|
)
|
|
Average Daily Managed Assets*
|
Fund-Level Fee Rate
|
|
For the first $125 million
|
.4500
|
%
|
For the next $125 million
|
.4375
|
|
For the next $250 million
|
.4250
|
|
For the next $500 million
|
.4125
|
|
For the next $1 billion
|
.4000
|
|
For the next $3 billion
|
.3875
|
|
For managed assets over $5 billion
|
.3750
|
94
|
Nuveen Investments
|
Connecticut Dividend Advantage (NFC
|
)
|
|
Connecticut Dividend Advantage 2 (NGK
|
)
|
|
Connecticut Dividend Advantage 3 (NGO
|
)
|
|
Massachusetts Dividend Advantage (NMB
|
)
|
|
Insured Massachusetts Tax-Free Advantage (NGX
|
)
|
|
Average Daily Managed Assets*
|
Fund-Level Fee Rate
|
|
For the first $125 million
|
.4500
|
%
|
For the next $125 million
|
.4375
|
|
For the next $250 million
|
.4250
|
|
For the next $500 million
|
.4125
|
|
For the next $1 billion
|
.4000
|
|
For managed assets over $2 billion
|
.3750
|
Complex-Level Managed Asset Breakpoint Level*
|
Effective Rate at Breakpoint Level
|
|
$55 billion
|
.2000
|
%
|
$56 billion
|
.1996
|
|
$57 billion
|
.1989
|
|
$60 billion
|
.1961
|
|
$63 billion
|
.1931
|
|
$66 billion
|
.1900
|
|
$71 billion
|
.1851
|
|
$76 billion
|
.1806
|
|
$80 billion
|
.1773
|
|
$91 billion
|
.1691
|
|
$125 billion
|
.1599
|
|
$200 billion
|
.1505
|
|
$250 billion
|
.1469
|
|
$300 billion
|
.1445
|
*
|
For the fund-level and complex-level fees, managed assets include closed-end fund assets managed by the Adviser that are attributable to financial leverage. For these purposes, financial leverage includes the funds’ use of preferred stock and borrowings and certain investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities, subject to an agreement by the Adviser as to certain funds to limit the amount of such assets for determining managed assets in certain circumstances. The complex-level fee is calculated based upon the aggregate daily managed assets of all Nuveen Funds that constitute “eligible assets.” Eligible assets do not include assets attributable to investments in other Nuveen Funds and assets in excess of $2 billion added to the Nuveen Fund complex in connection with the Adviser’s assumption of the management of the former First American Funds effective January 1, 2011. As of November 30, 2011, the complex level fee rate for these Funds was .1774%.
|
Year Ending
|
Year Ending
|
|||||
March 31,
|
March 31,
|
|||||
2002*
|
.30
|
%
|
2008
|
.25
|
%
|
|
2003
|
.30
|
2009
|
.20
|
|||
2004
|
.30
|
2010
|
.15
|
|||
2005
|
.30
|
2011
|
.10
|
|||
2006
|
.30
|
2012
|
.05
|
|||
2007
|
.30
|
*
|
From the commencement of operations.
|
Nuveen Investments
|
95
|
Notes to
|
||
Financial Statements (Unaudited) (continued)
|
96
|
Nuveen Investments
|
Nuveen Investments
|
97
|
98
|
Nuveen Investments
|
■
|
Auction Rate Bond: An auction rate bond is a security whose interest payments are adjusted periodically through an auction process, which process typically also serves as a means for buying and selling the bond. Auctions that fail to attract enough buyers for all the shares offered for sale are deemed to have “failed,” with current holders receiving a formula-based interest rate until the next scheduled auction.
|
■
|
Average Annual Total Return: This is a commonly used method to express an investment’s performance over a particular, usually multi-year time period. It expresses the return that would have been necessary each year to equal the investment’s actual cumulative performance (including change in NAV or market price and reinvested dividends and capital gains distributions, if any) over the time period being considered.
|
■
|
Average Effective Maturity: The market-value-weighted average of the effective maturity dates of the individual securities including cash. In the case of a bond that has been advance-refunded to a call date, the effective maturity is the date on which the bond is scheduled to be redeemed using the proceeds of an escrow account. In most other cases the effective maturity is the stated maturity date of the security.
|
■
|
Effective Leverage: Effective leverage is a Fund’s effective economic leverage, and includes both structural leverage and the leverage effects of certain derivative investments in the Fund’s portfolio. Currently, the leverage effects of Tender Option Bond (TOB) inverse floater holdings are included in effective leverage values, in addition to any structural leverage.
|
■
|
Inverse Floaters: Inverse floating rate securities, also known as inverse floaters, are created by depositing a municipal bond, typically with a fixed interest rate, into a special purpose trust created by a broker-dealer. This trust, in turn, (a) issues floating rate certificates typically paying short-term tax-exempt interest rates to third parties in amounts equal to some fraction of the deposited bond’s par amount or market value, and (b) issues an inverse floating rate certificate (sometimes referred to as an “inverse floater”) to an investor (such as a Fund) interested in gaining investment exposure to a long-term municipal bond. The income received by the holder of the inverse floater varies inversely with the short-term rate paid to the floating rate certificates’ holders, and in most circumstances the holder of the inverse floater bears substantially all of the underlying bond’s downside investment risk. The holder of the inverse floater typically also benefits disproportionately from any potential appreciation of the underlying bond’s value. Hence, an inverse floater essentially represents an investment in the underlying bond on a leveraged basis.
|
■
|
Leverage: Using borrowed money to invest in securities or other assets.
|
Nuveen Investments
|
99
|
■
|
Leverage-Adjusted Duration: Duration is a measure of the expected period over which a bond’s principal and interest will be paid, and consequently is a measure of the sensitivity of a bond’s or bond Fund’s value to changes when market interest rates change. Generally, the longer a bond’s or Fund’s duration, the more the price of the bond or Fund will change as interest rates change. Leverage-adjusted duration takes into account the leveraging process for a Fund and therefore is longer than the duration of the Fund’s portfolio of bonds.
|
■
|
Lipper Other States Municipal Debt Funds Classification Average: Calculated using the returns of all closed-end funds in this category for each period as follows: 6-month, 45 funds; 1-year, 45 funds; 5-year, 45 funds; and 10-year, 31 funds. Lipper returns account for the effects of management fees and assume reinvestment of dividends, but do not reflect any applicable sales charges. The Lipper average is not available for direct investment.
|
■
|
Lipper Single-State Insured Municipal Debt Funds Classification Average: Calculated using the returns of all closed-end funds in this category for each period as follows: 6-month, 13 funds; 1-year, 13 funds; 5-year, 13 funds; and 10-year, 8 funds. Lipper returns account for the effects of management fees and assume reinvestment of dividends, but do not reflect any applicable sales charges. The Lipper average is not available for direct investment.
|
■
|
Market Yield (also known as Dividend Yield or Current Yield): An investment’s current annualized dividend divided by its current market price.
|
■
|
Net Asset Value (NAV): The net market value of all securities held in a portfolio.
|
■
|
Net Asset Value (NAV) Per Share: The market value of one share of a mutual fund or closed-end fund. For a Fund, the NAV is calculated daily by taking the Fund’s total assets (securities, cash, and accrued earnings), subtracting the Fund’s liabilities, and dividing by the number of shares outstanding.
|
■
|
Pre-Refunding: Pre-Refunding, also known as advanced refundings or refinancings, is a procedure used by state and local governments to refinance municipal bonds to lower interest expenses. The issuer sells new bonds with a lower yield and uses the proceeds to buy U.S. Treasury securities, the interest from which is used to make payments on the higher-yielding bonds. Because of this collateral, pre-refunding generally raises a bond’s credit rating and thus its value.
|
■
|
Standard & Poor’s (S&P) Connecticut Municipal Bond Index: An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment-grade Connecticut municipal bond market. The index returns assume reinvestment of dividends but do not reflect any applicable sales charges. You cannot invest directly in an index.
|
100
|
Nuveen Investments
|
■
|
Standard & Poor’s (S&P) Massachusetts Municipal Bond Index: An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment-grade Massachusetts municipal bond market. The index returns assume reinvestment of dividends but do not reflect any applicable sales charges. You cannot invest directly in an index.
|
■
|
Standard & Poor’s (S&P) Missouri Municipal Bond Index: An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment-grade Missouri municipal bond market. The index returns assume reinvestment of dividends but do not reflect any applicable sales charges. You cannot invest directly in an index.
|
■
|
Standard & Poor’s (S&P) National Municipal Bond Index: An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment-grade U.S. municipal bond market. The index returns assume reinvestment of dividends but do not reflect any applicable sales charges. You cannot invest directly in an index.
|
■
|
Standard & Poor’s (S&P) National Insured Municipal Bond Index: An unleveraged, market value-weighted index designed to measure the performance of the insured, tax-exempt U.S. municipal bond market. The index returns assume reinvestment of dividends but do not reflect any applicable sales charges. You cannot invest directly in an index.
|
■
|
Structural Leverage: Structural Leverage consists of preferred shares or debt issued by the Fund. Both of these are part of a Fund’s capital structure. Structural leverage is sometimes referred to as “40 Act Leverage” and is subject to asset coverage limits set in the Investment Company Act of 1940.
|
■
|
Taxable-Equivalent Yield: The yield necessary from a fully taxable investment to equal, on an after-tax basis, the yield of a municipal bond investment.
|
■
|
Zero Coupon Bond: A zero coupon bond does not pay a regular interest coupon to its holders during the life of the bond. Tax-exempt income to the holder of the bond comes from accretion of the difference between the original purchase price of the bond at issuance and the par value of the bond at maturity and is effectively paid at maturity. The market prices of zero coupon bonds generally are more volatile than the market prices of bonds that pay interest periodically.
|
Nuveen Investments
|
101
|
102
|
Nuveen Investments
|
Common Shares
|
||||
Fund
|
Repurchased
|
|||
NTC
|
—
|
|||
NFC
|
—
|
|||
NGK
|
—
|
|||
NGO
|
—
|
|||
NMT
|
—
|
|||
NMB
|
—
|
|||
NGX
|
—
|
|||
NOM
|
—
|
Nuveen Investments
|
103
|
(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 Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the "Exchange Act")(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 second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
|
(a)(1)
|
Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable to this filing.
|
(a)(2)
|
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)) in the exact form set forth below: See Ex-99.CERT attached hereto.
|
(a)(3)
|
Any written solicitation to purchase securities under Rule 23c-1 under the 1940 Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons: Not applicable.
|
(b)
|
If the report is filed under Section 13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the 1940 Act (17 CFR 270.30a-2(b)); Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)), and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an exhibit. A certification furnished pursuant to this paragraph will not be deemed "filed" for purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registrant specifically incorporates it by reference: See Ex-99.906 CERT attached hereto.
|