UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-6471
Van Kampen Trust For Investment Grade Municipals
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(Exact name of registrant as specified in charter)
522 Fifth Avenue, New York, New York 10036
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(Address of principal executive offices) (Zip code)
Ronald Robison
522 Fifth Avenue, New York, New York 10036
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(Name and address of agent for service)
Registrant's telephone number, including area code: 212-762-4000
Date of fiscal year end: 10/31
Date of reporting period: 1/31/08
Item 1. Schedule of Investments.
The Trust's schedule of investments as of the close of the reporting period
prepared pursuant to Rule 12-12 of Regulation S-X is as follows:
Van Kampen Trust for Investment Grade Municipals
Portfolio of Investments - January 31, 2008 (Unaudited)
PAR
AMOUNT
(000) DESCRIPTION COUPON MATURITY VALUE
------- ------------------------------------ ------ -------- --------------
MUNICIPAL BONDS 198.3%
ALABAMA 3.9%
$ 3,660 Alabama St Brd Ed Rev & Impt Southn
Univ St Cmnty Rfdg (MBIA Insd)
(a) 5.250% 07/01/20 $ 3,942,625
7,700 Birmingham Baptist Med Ctr AL
Baptist Hlth Sys Inc Ser A 5.000 11/15/30 7,021,014
750 Birmingham Baptist Med Ctr AL
Baptist Hlth Sys Ser A 5.875 11/15/24 769,875
2,525 Huntsville Redstone Vlg, AL Spl
Care Fac Fin Auth Redstone Vlg
Proj 5.500 01/01/43 2,234,549
1,000 Jefferson Cnty, AL Ltd Oblig Sch
Wt Ser A 5.000 01/01/24 1,039,630
7,940 University AL at Birmingham Hosp
Rev Ser A (b) 5.000 09/01/36 7,991,967
9,850 University AL at Birmingham Hosp
Rev Ser A (b) 5.000 09/01/41 9,907,613
--------------
32,907,273
--------------
ALASKA 1.6%
2,000 Alaska St Hsg Fin Corp Gen Hsg Ser A
(FGIC Insd) 5.000 12/01/30 2,022,360
1,250 Alaska St Hsg Fin Corp Gen Hsg Ser A
(FGIC Insd) 5.250 12/01/34 1,284,925
3,650 Alaska St Intl Arpt Rev Ser B (AMBAC
Insd) (Prerefunded @ 10/01/12) 5.250 10/01/27 4,057,084
1,575 Matanuska-Susitna Boro, AK Ctf
Partn Pub Safety Bldg Lease
(FSA Insd) 5.750 03/01/16 1,676,430
5,300 Northern Tob Sec Corp Rev Bkd Ser A 5.000 06/01/46 4,463,130
--------------
13,503,929
--------------
ARIZONA 3.6%
1,000 Arizona Hlth Fac Auth Hosp Sys
Rev John C Lincoln Hlth Network
(Prerefunded @ 12/01/12) 6.375 12/01/37 1,169,600
6,075 Glendale, AZ Indl Dev Auth John C
Lincoln Hlth Rfdg Ser B 5.000 12/01/37 5,661,110
3,050 Glendale, AZ Indl Dev Auth Rfdg 5.000 12/01/35 2,844,003
3,000 Goodyear, AZ McDowell Rd Coml
Corridor Impt Dist Impt (AMBAC
Insd) 5.250 01/01/32 3,058,710
3,500 Maricopa Cnty, AZ Hosp Rev Sun Hlth
Corp 5.000 04/01/35 3,266,095
3,400 Pima Cnty, AZ Indl Dev Auth
Wtr & Waste Wtr Rev Global
Wtr Resh LLC Proj (AMT) 6.550 12/01/37 3,326,832
11,750 University of AZ Med Ctr Corp 5.000 07/01/35 11,251,095
--------------
30,577,445
--------------
CALIFORNIA 23.0%
900 Aliso Viejo, CA Cmnty Fac Dist
Spl Tax No 2005-01 Glenwood
at Aliso 6.000 09/01/38 902,223
1,300 Anaheim, CA Pub Fin Auth Lease
Rev Pub Impt Proj Ser C (FSA
Insd) 6.000 09/01/16 1,529,307
3,735 Anaheim, CA Pub Fin Auth Rev
Elec Sys Dist Fac Ser A (FSA
Insd) 5.000 10/01/31 3,886,081
1,000 California Cnty, CA Tob Agy Tob
Sec Sonoma Cnty Corp Rfdg 5.250 06/01/45 886,650
1,200 California Hlth Fac Fin Auth Rev
Kaiser Permanente Ser A 5.250 04/01/39 1,211,016
3,000 California Hsg Fin Agy Rev Home
Mtg Ser G (AMT) (b) 4.950 08/01/23 3,006,945
2,000 California Hsg Fin Agy Rev Home
Mtg Ser G (AMT) (b) 5.050 02/01/29 2,004,630
1,550 California Hsg Fin Agy Rev Home
Mtg Ser M (AMT) (b) 4.700 08/01/36 1,434,873
7,300 California Hsg Fin Agy Rev Home
Mtg Ser M (AMT) (b) 4.800 08/01/36 6,904,778
1,500 California Pollutn Ctl Fin Auth
Solid Waste Disp Rev Waste
Mgmt Inc Proj Ser B (AMT) 5.000 07/01/27 1,392,540
695 California St (AMBAC Insd) 5.125 10/01/27 701,658
1,000 California St Dept Wtr Res Ctr Vly
Proj Rev Wtr Sys Ser X (FGIC
Insd) 5.000 12/01/29 1,019,700
1,000 California St Pub Wks Brd UCLA
Replacement Hosp Ser A (FSA
Insd) 5.375 10/01/20 1,087,890
5,000 California St Rfdg 5.000 08/01/28 5,060,800
5,000 California St Univ Rev & Co
Systemwide Ser A (AMBAC Insd) 5.000 11/01/33 5,082,000
9,150 California St Veterans Ser CD
(AMT) (b) 4.600 12/01/32 9,195,077
1,350 California Statewide Cmnty Dev
Auth Rev Daughters of Charity
Hlth Ser A 5.000 07/01/39 1,231,726
9,015 California Statewide Cmnty Dev
Auth Rev Daughters of Charity
Hlth Ser A 5.250 07/01/30 8,777,184
1,500 California Statewide Cmnty Dev Auth
Rev Front Porch Cmnty & Svcs Ser
A (c) 5.125 04/01/37 1,403,160
3,000 California Statewide Cmnty Dev
Auth Rev Hlth Fac Adventist
Hlth Ser A 5.000 03/01/30 2,974,140
3,750 California Statewide Cmnty Dev
Auth Rev Hlth Fac Adventist
Hlth Ser A 5.000 03/01/35 3,649,462
6,230 California Statewide Cmnty Dev
Auth Rev Kaiser Permanente
Ser A (b) 5.000 04/01/31 6,232,153
2,300 California Statewide Cmnty Dev
Auth Rev Kaiser Permanente
Ser B 5.000 03/01/41 2,259,704
4,000 California Statewide Cmnty Dev
Auth Rev Kaiser Permanente
Ser B 5.250 03/01/45 4,020,720
3,360 California Statewide Cmnty Dev
Auth Rev Sutter Hlth Ser A 5.000 11/15/43 3,305,803
600 Daly City, CA Hsg Dev Fin Agy
Mobile Home Pk Rev Rfdg Third
Tier Franciscan Ser C 6.500 12/15/47 570,198
2,000 Florin, CA Res Consv Dist Cap
Impt Elk Grove Wtr Svc Ser A
(MBIA Insd) 5.000 09/01/33 2,001,680
3,000 Florin, CA Res Consv Dist Cap
Impt Elk Grove Wtr Svc Ser B
(MBIA Insd) 5.000 03/01/33 3,002,370
2,000 Foothill/Eastern Corridor Agy CA
Toll Rd Rev Cap Apprec Rfdg
(MBIA Insd) * 01/15/17 1,290,540
10,750 Foothill/Eastern Corridor Agy CA
Toll Rd Rev Sr Lien Ser A (d) * 01/01/23 5,559,255
3,000 Fremont, CA Uni Sch Dist Ser A
(FGIC Insd) 5.000 08/01/25 3,127,860
22,000 Golden St Tob Sec Corp CA Tob
Settlement Rev Enhanced
Ser A (FGIC Insd) (b) 5.000 06/01/38 21,811,900
5,000 Golden St Tob Sec Corp CA Tob
Settlement Rev Enhanced Ser A 5.000 06/01/45 4,815,700
5,000 Golden St Tob Sec Corp CA Tob
Settlement Rev Ser A 5.125 06/01/47 4,331,650
1,000 Golden St Tob Sec Corp CA Tob
Settlement Rev Ser A 5.750 06/01/47 958,680
3,840 Golden St Tob Sec Corp CA Tob
Settlement Rev Ser A (b) 5.750 06/01/47 3,681,350
1,000 Hesperia, CA Pub Fin Auth Rev
Redev & Hsg Proj Ser A (XLCA
Insd) 5.000 09/01/37 987,020
4,000 Los Angeles, CA Dept Wtr & Pwr
Ser A (FGIC Insd) 5.125 07/01/40 4,071,720
17,000 Los Angeles, CA Uni Sch Dist
Rfdg Ser A-1 (MBIA Insd) (b) 4.500 01/01/28 16,552,050
2,000 Los Angeles, CA Wtr & Pwr Rev
Pwr Sys Ser B (FSA Insd) 5.000 07/01/28 2,093,500
1,500 Metropolitan Wtr Dist Southn CA
Wtrwks Rev Auth Ser B1 (FGIC
Insd) 5.000 10/01/33 1,544,235
3,500 Palm Springs, CA Fin Auth Lease
Rev Convention Ctr Proj Ser A
(MBIA Insd) 5.500 11/01/35 3,773,595
3,400 Quechan Indian Tribe Ft Yuma
Indian Reservation CA & Govt
Proj 7.000 12/01/27 3,401,972
2,400 Rancho Mirage, CA Jt Pwr Fin
Auth Rev Eisenhower Med Ctr
Ser A 5.000 07/01/47 2,329,968
2,000 Salinas, CA Uni High Sch Dist
Ser A (MBIA Insd) (Prerefunded
@ 6/01/12) 5.000 06/01/27 2,218,360
1,000 Santa Clara Cnty, CA Brd Ed Ctf
Partn Rfdg (MBIA Insd) 5.000 04/01/25 1,030,010
1,690 Southern CA Pub Pwr Auth Nat
Gas Proj Rev No 1 Ser A 5.250 11/01/21 1,781,125
3,000 Temecula, CA Redev Agy Tax
Temecula Redev Proj No 1
(MBIA Insd) 5.250 08/01/36 3,081,450
4,700 Tobacco Sec Auth Northn CA Tob
Settlement Rev Ser A-1 5.375 06/01/38 4,294,531
3,550 Tobacco Sec Auth Northn CA Tob
Settlement Rev Ser A-1 5.500 06/01/45 3,264,261
3,800 Tobacco Sec Auth Southn CA
Tob Settlement Ser A-1 5.000 06/01/37 3,275,828
9,650 Tobacco Sec Auth Southn CA
Tob Settlement Ser A-1 5.125 06/01/46 8,368,577
1,600 Turlock, CA Hlth Fac Rev
Emanuel Med Ctr Inc 5.375 10/15/34 1,468,544
--------------
193,848,149
--------------
COLORADO 3.9%
2,000 Aurora, CO Ctf Partn (AMBAC Insd)
(Prerefunded @ 12/01/10) 5.500 12/01/30 2,170,380
3,405 Colorado Ed & Cultural Fac Auth
Rev Impt Charter Sch Rfdg
(XLCA Insd) 5.250 12/01/23 3,498,467
800 Colorado Hlth Fac Auth Hlth &
Residential Care Fac Volunteers
of Amer Care Ser A 5.250 07/01/27 716,912
600 Colorado Hlth Fac Auth Hlth &
Residential Care Fac Volunteers
of Amer Care Ser A 5.300 07/01/37 525,498
5,500 Colorado Hlth Fac Auth Rev
Adventist Hlth/Sunbelt Rfdg Ser
D (b) 5.250 11/15/27 5,673,388
2,000 Colorado Hlth Fac Auth Rev
Catholic Hlth Initiatives Ser
A (d) 5.500 03/01/32 2,144,620
3,000 Colorado Hlth Fac Auth Rev Covenant
Retirement Cmntys Inc 5.000 12/01/35 2,657,070
1,125 Colorado Hlth Fac Auth Rev Hosp
Portercare Adventist Hlth
(Prerefunded @ 11/15/11) 6.500 11/15/31 1,294,909
6 Colorado Hsg Fin Auth Single
Family Pgm Sr Ser B1 (AMT) 7.650 11/01/26 6,118
3,000 Colorado Springs, CO Util Rev
Sys Sub Lien Impt Rfdg Ser A 5.000 11/15/29 3,045,780
2,650 Colorado Springs, CO Util Rev
Sys Sub Lien Impt Ser B 5.000 11/15/30 2,718,396
1,000 El Paso Cnty, CO Ctf Partn Detention
Fac Proj Ser B (AMBAC Insd) 5.375 12/01/18 1,088,920
1,805 Lakewood, CO Ctf Part (AMBAC Insd)
(Prerefunded @ 12/01/10) (a) 5.300 12/01/16 1,950,483
1,000 Montezuma Cnty, CO Hosp Dist
Hlth Fac Enterprise Hosp Rfdg 5.900 10/01/37 940,880
1,200 North Range, CO Met Dist No 2
Ltd Tax 5.500 12/15/37 1,046,136
2,050 Salida, CO Hosp Dist Rev 5.250 10/01/36 1,755,067
1,500 University of CO Hosp Auth Rev
Ser A 5.250 11/15/39 1,438,410
--------------
32,671,434
--------------
CONNECTICUT 1.6%
1,175 Connecticut St Dev Auth Solid
Waste Disp Fac Rev Pseg Pwr
LLC Proj Ser A (AMT) 5.750 11/01/37 1,187,267
7,500 Connecticut St Hsg Fin Auth Hsg
Mtg Fin Ser B (AMT) 5.100 05/15/38 7,346,400
3,580 Connecticut St Spl Oblig Pkg Rev
Bradley Intl Arpt Ser A (ACA
Insd) (AMT) 6.600 07/01/24 3,528,305
1,000 Hartford, CT Pkg Sys Rev Ser A
(Prerefunded @ 7/01/10) 6.500 07/01/25 1,095,560
--------------
13,157,532
--------------
DELAWARE 0.2%
1,925 Mashantucket Western Pequot
Tribe Sub Spl Rev Bd Ser A (c) 5.500 09/01/36 1,805,304
--------------
DISTRICT OF COLUMBIA 0.8%
2,775 District of Columbia Hosp Rev
Medlantic Hlthcare Rfdg Ser A
(MBIA Insd) (d) 5.250 08/15/12 2,808,605
2,000 District of Columbia Rev
Friendship Pub Charter Sch Inc
(ACA Insd) 5.750 06/01/18 2,074,380
5 District of Columbia Ser E (FSA
Insd) (a) 6.000 06/01/13 5,015
2,000 Metropolitan Washington DC Arpt
Auth Sys Ser A (FGIC Insd)
(AMT) 5.250 10/01/32 2,019,620
--------------
6,907,620
--------------
FLORIDA 45.0%
1,000 Alachua Cnty, FL Indl Dev Rev
North FL Retirement Vlg 5.250 11/15/17 977,120
1,000 Alachua Cnty, FL Indl Dev Rev
North FL Retirement Vlg 5.875 11/15/36 946,530
500 Alachua Cnty, FL Indl Dev Rev
North FL Retirement Vlg 5.875 11/15/42 470,245
375 Beacon Lakes, FL Cmnty Dev FL
Spl Assmt Ser A 6.000 05/01/38 331,249
250 Beacon Lakes, FL Cmnty Dev FL
Spl Assmt Sub Ser B 6.200 05/01/38 221,975
12,960 Brevard Cnty, FL Hlth Fac Auth
Hlthcare Fac Rev Hlth First Inc
Proj (b) 5.000 04/01/34 12,708,900
8,000 Brevard Cnty, FL Hlth Fac Auth
Hlthcare Fac Rev Hlth First Inc
Proj 5.000 04/01/34 7,844,960
1,800 Brevard Cnty, FL Hlth Fac Auth
Residential Care Fac Rev Buena
Vida Estates Inc 6.750 01/01/37 1,816,632
1,000 Broward Cnty, FL Hsg Fin Auth
Multi-Family Hsg Rev Pembroke
Pk Apts Proj (AMT) 5.650 10/01/28 1,001,110
1,000 Broward Cnty, FL Sch Brd Ctf
Partn Ser A (FSA Insd) 5.000 07/01/22 1,051,080
1,500 Capital Tr Agy FL Rev Ft
Lauderdale Proj (AMT) 5.750 01/01/32 1,458,540
995 Cross Creek Cmnty Dev Dist FL
Spl Assmt Rev Cross Creek
Comm Dev Ser B 5.500 05/01/17 806,010
3,180 Dade Cnty, FL Spl Oblig Cap
Apprec Ser B (AMBAC Insd)
(Prerefunded @ 10/01/08) * 10/01/26 1,040,210
1,500 Deltona, FL Trans Cap Impt Rev
(MBIA Insd) 5.125 10/01/26 1,561,650
1,125 Deltona, FL Util Sys Rev (MBIA
Insd) 5.250 10/01/22 1,199,137
675 Escambia Cnty, FL Hlth Fac Auth
Rev (AMBAC Insd) 5.950 07/01/20 710,235
1,000 Escambia Cnty, FL Util Auth Util
Sys Rev (FGIC Insd)
(Prerefunded @ 1/01/09) 5.250 01/01/29 1,038,660
1,250 Florida Agric & Mechanical Univ
Rev Student Apt Fac (MBIA
Insd) 6.500 07/01/23 1,267,575
280 Florida Hsg Fin Agy
Homeownership Mtg Ser B
(AMT) 8.595 11/01/18 299,499
2,750 Florida Hsg Fin Agy Hsg Willow
Lake Apts Ser J-1 (AMBAC
Insd) (AMT) 5.350 07/01/27 2,763,035
2,835 Florida Hsg Fin Corp Rev
Homeowner Mtg Ser 1 (GNMA
Collateralized) (AMT) 4.850 07/01/37 2,681,712
1,950 Florida Hsg Fin Corp Rev
Homeowner Mtg Ser 2 (GNMA
Collateralized) (AMT) 4.950 07/01/37 1,883,993
465 Florida Hsg Fin Corp Rev
Homeowner Mtg Ser 4 (FSA
Insd) (AMT) 6.250 07/01/22 491,226
1,000 Florida Hsg Fin Corp Rev Hsg
Wentworth II Apts Ser A
(AMBAC Insd) (AMT) 5.375 11/01/29 1,006,390
1,760 Florida Hsg Fin Corp Rev Ser G
(AMT) (b) 4.550 07/01/26 1,653,169
5,440 Florida Hsg Fin Corp Rev Ser G
(AMT) (b) 4.625 07/01/31 5,109,793
5,120 Florida Hsg Fin Corp Rev Ser G
(AMT) (b) 4.700 07/01/37 4,809,217
2,000 Florida Ports Fin Comm Rev St
Trans Tr Fd (MBIA Insd)
(AMT) 5.375 06/01/27 2,014,740
8,475 Florida Ports Fin Comm Rev St
Trans Tr Fd Intermodal Pgm
(FGIC Insd) (AMT) 5.500 10/01/29 8,702,215
1,600 Florida St Brd of Ed Cap Outlay
Pub Ed Rfdg Ser C 5.000 06/01/16 1,628,768
12,775 Florida St Brd of Ed Cap Outlay
Pub Ed Rfdg Ser D 5.750 06/01/22 13,581,102
4,500 Florida St Brd of Ed Cap Outlay
Pub Ed Ser C (FGIC Insd)
(Prerefunded @ 6/01/10) 5.750 06/01/29 4,891,635
15,000 Florida St Brd of Ed Cap Outlay
Ser D (b) 4.750 06/01/35 15,144,075
2,000 Florida St Brd of Ed Lottery Rev
Ser A (FGIC Insd) 5.250 07/01/17 2,132,140
5,000 Florida St Brd of Ed Lottery Rev
Ser A (FGIC Insd) (Prerefunded
@ 7/01/10) 5.500 07/01/17 5,419,400
1,000 Florida St Brd of Ed Lottery Rev Ser
A (FGIC Insd) (Prerefunded @
7/01/10) 6.000 07/01/14 1,095,560
1,000 Florida St Brd of Ed Rev FL St
Univ Hsg Fac Ser A (MBIA
Insd) 5.000 05/01/29 1,018,500
4,735 Florida St Brd of Regt Hsg Rev
Univ FL (FGIC Insd) 5.500 07/01/28 5,132,172
1,000 Florida St Correctional
Privatization Commn Ctf Partn
(MBIA Insd) 5.375 08/01/14 1,090,400
2,360 Florida St Correctional
Privatization Commn Ctf Partn
(MBIA Insd) (a) 5.375 08/01/15 2,573,344
3,000 Florida St Dept Trans 5.000 07/01/32 3,106,110
2,000 Florida St Dept Trans Right of
Way Ser A 5.250 07/01/21 2,198,840
7,295 Florida St Dept Trans Tpk Rev
Ser A 5.000 07/01/29 7,538,872
1,500 Florida St Div Bd Fin Dept Gen
Svc Rev Dept Envrnmtl
Preservtn 2000 Ser A (AMBAC
Insd) 5.000 07/01/11 1,514,715
2,000 Florida St Div Bd Fin Dept Gen
Svc Rev Dept Envrnmtl
Preservtn 2000 Ser A (FGIC
Insd) 5.250 07/01/12 2,089,060
1,475 Florida St Tpk Auth Tpk Rev Dept
Trans Ser B 5.000 07/01/30 1,498,290
1,635 Fort Myers, FL Util Rev Rfdg Ser
A (FGIC Insd) 5.500 10/01/24 1,701,495
415 Gainesville, FL Util Sys Rev (d) 8.125 10/01/14 483,292
1,000 Gramercy Farms Cmnty Dev Dist
FL Spl Assmt Ser B 5.100 05/01/14 915,690
500 Gulf Breeze, FL Rev Loc Govt
(FGIC Insd) 5.650 12/01/20 520,040
730 Gulf Breeze, FL Rev Loc Govt
(FGIC Insd) 5.750 12/01/20 763,084
1,000 Gulf Breeze, FL Rev Loc Govt
(FGIC Insd) 5.800 12/01/20 1,079,970
5,000 Halifax Hosp Med Ctr FL Hosp
Rev Impt Rfdg Ser A 5.000 06/01/38 4,601,700
5,500 Halifax Hosp Med Ctr FL Hosp
Rev Impt Rfdg Ser A 5.250 06/01/26 5,512,485
3,000 Highlands Cnty, FL Hlth Fac Auth
Rev Hosp Adventist Hlth Ser D
(Prerefunded @ 11/15/13) 5.375 11/15/35 3,397,710
3,000 Highlands Cnty, FL Hlth Fac Auth
Rev Hosp Adventist/Sunbelt Ser
A (Prerefunded @ 11/15/11) 6.000 11/15/31 3,387,630
1,300 Highlands, FL Cmnty Dev Dist Spl
Assmt 5.550 05/01/36 1,061,632
9,020 Highlands, FL Hlth Fac Auth Rev
Hosp Adventist Hlth Ser D (b) 5.000 11/15/35 8,886,143
750 Hillsborough Cnty, FL Assmt Rev
Capacity Assmt Spl (FSA Insd) 5.000 03/01/15 800,520
750 Hillsborough Cnty, FL Assmt Rev
Capacity Assmt Spl (FSA Insd) 5.000 09/01/15 800,520
14,150 Hillsborough Cnty, FL Indl Dev
Auth Hosp Rev Tampa Gen
Hosp Proj (b) 5.250 10/01/41 14,005,568
1,000 Hillsborough Cnty, FL Indl Dev
Tampa Gen Hosp Proj Ser B 5.250 10/01/28 1,008,450
1,000 Hillsborough Cnty, FL Indl Dev
Tampa Gen Hosp Proj Ser B 5.250 10/01/34 1,000,170
2,745 Hillsborough Cnty, FL Port Dist
Rev Tampa Port Auth Proj Ser A
(MBIA Insd) (AMT) 5.375 06/01/27 2,804,265
10,000 Hillsborough Cnty, FL Solid
Waste & Res Recovery Rev Ser
A (AMT) (b) 4.500 09/01/34 9,127,550
1,380 Hollywood, FL Cmnty Redev Agy
Beach Cra 5.625 03/01/24 1,433,489
1,500 Jacksonville, FL Econ Dev
Commn Indl Dev Rev Metro Pkg
Solutions Proj (ACA Insd)
(AMT) 5.500 10/01/30 1,424,490
7,000 Lakeland, FL Elec & Wtr Rev (a)(d) * 10/01/13 5,906,530
2,230 Lakeland, FL Elec & Wtr Rev (d) 5.750 10/01/19 2,500,923
5,105 Lakeland, FL Hosp Sys Rev
Lakeland Regl Hlth Sys (b) 5.000 11/15/25 5,171,867
2,000 Lakeland, FL Hosp Sys Rev
Lakeland Regl Hlth Sys
(Prerefunded @ 11/15/12) 5.500 11/15/32 2,268,260
1,000 Lee Cnty, FL Arpt Rev Ser A (FSA
Insd) (AMT) 5.750 10/01/22 1,049,800
1,195 Lee Cnty, FL Hsg Fin Auth Single
Family Mtg Rev Multi-Cnty Pgm
Ser A (GNMA Collateralized)
(AMT) 5.000 03/01/39 1,157,405
2,400 Lee Cnty, FL Indl Dev Auth
Hlthcare Fac Rev Shell
PT/Alliance Oblig Group 5.125 11/15/36 2,136,072
1,000 Lee Cnty, FL Indl Dev Auth Indl
Dev Rev Lee Charter Fndtn Ser
A 5.375 06/15/37 858,500
13,400 Lee Mem Hlth Sys FL Hosp Rev
Ser A (AMBAC Insd) (b) 5.000 04/01/37 13,492,261
1,000 Leesburg, FL Hosp Rev Leesburg
Regl Med Ctr Proj 5.500 07/01/32 1,003,250
3,200 Leesburg, FL Util Rev (FGIC Insd) 5.000 10/01/34 3,272,032
3,500 Marion Cnty, FL Hosp Dist Rev
Hlth Sys Munroe Reg Impt &
Rfdg 5.000 10/01/34 3,454,080
650 Marion Cnty, FL Hosp Dist Rev
Hlth Sys Munroe Reg Impt &
Rfdg (Prerefunded @
10/01/09) 5.500 10/01/29 691,548
1,500 Miami Beach, FL Stormwtr Rev
(FGIC Insd) 5.250 09/01/25 1,566,225
1,460 Miami Beach, FL Stormwtr Rev
(FGIC Insd) (a) 5.750 09/01/14 1,580,932
1,045 Miami Beach, FL Stormwtr Rev
(FGIC Insd) 5.750 09/01/15 1,131,557
4,720 Miami-Dade Cnty, FL Aviation Rev
Miami Intl Arpt (FGIC Insd)
(AMT) 5.375 10/01/32 4,778,245
2,000 Miami-Dade Cnty, FL Aviation Rev
Miami Intl Arpt Hub Ser A (FGIC
Insd) (AMT) 5.375 10/01/27 2,034,720
4,000 Miami-Dade Cnty, FL Aviation Rev
Miami Intl Arpt Ser A (CIFG
Insd) (AMT) 5.000 10/01/38 3,877,720
870 Miami-Dade Cnty, FL Aviation Rev
Miami Intl Arpt Ser B (FGIC
Insd) 5.450 10/01/15 934,858
3,000 Miami-Dade Cnty, FL Aviation Rev
Miami Intl Arpt Ser B (FGIC
Insd) 5.750 10/01/29 3,178,710
2,000 Miami-Dade Cnty, FL Aviation Rev
Ser A (FSA Insd) (AMT) 5.000 10/01/33 1,997,000
2,000 Miami-Dade Cnty, FL Aviation Ser
A (FSA Insd) (AMT) 5.125 10/01/35 2,007,680
2,000 Miami-Dade Cnty, FL Ed Fac Auth
Rev Ser A (AMBAC Insd)
(Prerefunded @ 4/01/10) 5.750 04/01/29 2,163,320
4,905 Miami-Dade Cnty, FL Pub Fac
Rev Jackson Hlth Sys Ser A
(MBIA Insd) 5.000 06/01/31 4,924,080
5,000 Miami-Dade Cnty, FL Sch Brd Ctf
Partn Ser A (AMBAC Insd) 5.000 11/01/25 5,087,200
950 Midtown Miami, FL Cmnty Dev
Dist FL Spl Assmt Rev Ser A 6.000 05/01/24 907,696
3,860 North Broward, FL Hosp Dist Rev
Impt (Prerefunded @ 1/15/11) 6.000 01/15/31 4,276,301
390 North Broward, FL Hosp Dist Rev
Impt (Prerefunded @ 1/15/11) 6.000 01/15/31 432,416
1,000 Orange Cnty, FL Cap Rev Impt &
Rfdg (AMBAC Insd) * 10/01/12 863,490
1,000 Orange Cnty, FL Cap Rev Impt &
Rfdg (AMBAC Insd) * 10/01/13 826,550
980 Orange Cnty, FL Hlth Fac Auth
Hosp Hlthcare Ser E 6.000 10/01/26 1,009,194
20 Orange Cnty, FL Hlth Fac Auth
Hosp Hlthcare Ser E
(Prerefunded @ 10/01/09) 6.000 10/01/26 21,407
2,100 Orange Cnty, FL Hlth Fac Auth
Rev First Mtg Orlando Lutheran
Tower 5.500 07/01/32 1,894,263
1,000 Orange Cnty, FL Hlth Fac Auth
Rev Hosp Orlando Regl
Hlthcare Ser B 5.125 11/15/39 997,580
1,000 Orange Cnty, FL Hsg Fin Auth
Multi-Family Rev Mtg Hands Inc
Proj Ser A (Acquired 06/19/95,
Cost $1,000,000)(g) 7.000 10/01/25 1,054,590
1,000 Orange Cnty, FL Sales Tax Rev
Rfdg Ser A (FGIC Insd) 5.125 01/01/20 1,068,360
2,000 Orange Cnty, FL Tourist Dev Tax
Rev (AMBAC Insd)
(Prerefunded @ 10/01/09) 5.500 10/01/31 2,110,900
4,000 Orange Cnty, FL Tourist Dev Tax
Rev (AMBAC Insd)
(Prerefunded @ 10/01/09) 5.625 10/01/14 4,229,960
1,500 Orlando & Orange Cnty Expwy
Auth FL Expwy Rev Jr Lien
(FGIC Insd) 5.000 07/01/28 1,517,850
1,000 Osceola Cnty, FL Sch Brd Ctf Ser
A (AMBAC Insd) (Prerefunded
@ 6/01/12) 5.125 06/01/22 1,109,490
2,000 Osceola Cnty, FL Sch Brd Ctf Ser
A (AMBAC Insd) (Prerefunded
@ 6/01/12) 5.250 06/01/27 2,229,140
900 Overoaks, FL Cmnty Dev Dist
Cap Impt Rev Ser A 6.125 05/01/35 814,311
10,000 Palm Beach Cnty, FL Hlth Fac
Auth Retirement Cmnty Rev Act
Retirement Life Ser A (b) 4.500 11/15/36 8,077,200
1,650 Palm Beach Cnty, FL Hlth Fac
Auth Rev Waterford Proj 5.875 11/15/37 1,634,936
1,000 Palm Beach Cnty, FL Sch Brd Ctf
Partn Ser A (FSA Insd) 5.000 08/01/31 1,025,400
1,000 Palm Beach Cnty, FL Sch Brd Ctf
Partn Ser A (FGIC Insd)
(Prerefunded @ 8/01/10) 5.875 08/01/21 1,094,480
1,000 Palm Coast, FL Util Sys Rev
(MBIA Insd) 5.250 10/01/21 1,086,250
5,000 Pasco Cnty, FL Wtr & Swr Rev
Rfdg (FSA Insd) 5.000 10/01/36 5,143,850
1,000 Pembroke Pines, FL Cons Util
Sys Rev (FGIC Insd) (d) 6.250 09/01/11 1,071,930
1,500 Pensacola, FL Arpt Rev Rfdg Ser
A (MBIA Insd) (AMT) 6.000 10/01/12 1,561,065
1,565 Pensacola, FL Arpt Rev Rfdg Ser
A (MBIA Insd) (AMT) 6.125 10/01/18 1,615,299
500 Polk Cnty, FL Sch Brd Ctf Partn
Master Lease Ser A (FSA
Insd) 5.500 01/01/25 529,000
2,000 Port Saint Lucie, FL Spl Assmt Rev
Southwest Annexation Dist Ser 1-B
(MBIA Insd) 5.000 07/01/33 1,995,640
900 Reunion East Cmnty Dev Dist FL
Spl Assmt 5.800 05/01/36 774,063
1,000 Saint Johns Cnty, FL Indl Dev
Auth Hlthcare Glenmoor Proj
Ser A 5.250 01/01/26 907,580
1,500 Saint Johns Cnty, FL Indl Dev
Auth Hlthcare Glenmoor Proj
Ser A 5.375 01/01/40 1,315,650
5,860 Saint Lucie Cnty, FL Sch Brd Ctf
Partn (FSA Insd) 5.000 07/01/29 6,011,188
2,000 Saint Lucie Cnty, FL Sch Brd Ctf
Ser A (FSA Insd) 5.000 07/01/21 2,105,460
1,000 Saint Lucie Cnty, FL Sch Brd Ctf
Ser A (FSA Insd) 5.000 07/01/23 1,052,730
1,210 Saint Lucie Cnty, FL Sch Brd Ctf
Ser A (FSA Insd) (a) 5.500 07/01/14 1,330,879
600 Seminole Tribe, FL Spl Oblig Rev
Ser A (c) 5.250 10/01/27 570,648
1,450 Seven Oaks, FL Cmnty Dev Dist II
Spl Assmt Rev Ser A 5.875 05/01/35 1,256,454
1,000 South Lake Cnty Hosp Dist FL
South Lake Hosp Inc 6.375 10/01/28 1,045,720
1,500 South Miami, FL Hlth Fac Auth
Hosp Rev Baptist Hlth (AMBAC
Insd) (Prerefunded @ 2/01/13) 5.250 11/15/33 1,673,325
1,500 South Miami, FL Hlth Fac Auth
Hosp Rev Baptist Hlth South FL
Group 5.000 08/15/37 1,487,385
2,850 South Vlg Cmnty Dev Dist FL Cap
Impt Rev Ser A 5.700 05/01/35 2,424,980
500 Split Pine Cmnty Dev Dist FL Spl
Assmt Ser A 5.250 05/01/39 403,010
1,000 Tallahassee, FL Hlth Fac Rev
Tallahassee Mem Hlthcare Proj 6.375 12/01/30 1,021,390
1,000 Tallahassee, FL Lease Rev FL St
Univ Proj Ser A (MBIA Insd) (a) 5.500 08/01/17 1,074,910
1,115 Tallahassee, FL Lease Rev FL St
Univ Proj Ser A (MBIA Insd) (a) 5.500 08/01/19 1,185,479
3,000 Tampa, FL Hosp Rev Cap Impt H
Lee Moffitt Ser A 5.750 07/01/19 3,084,150
1,800 Tampa, FL Hosp Rev Cap Impt H
Lee Moffitt Ser A 5.750 07/01/29 1,833,822
300 Tolomato Cmnty Dev Dist FL Spl
Assmt 6.550 05/01/27 296,889
3,170 Tolomato Cmnty Dev Dist FL Spl
Assmt 6.650 05/01/40 3,130,185
3,500 Village Ctr Cmnty Dev Dist FL
Recreational Rev Ser A (MBIA
Insd) 5.125 11/01/36 3,617,705
1,000 Village Ctr Cmnty Dev Dist FL
Recreational Rev Ser A (MBIA
Insd) 5.200 11/01/25 1,052,280
2,000 Village Ctr Cmnty Dev Dist FL Util
Rev (MBIA Insd) 5.250 10/01/23 2,146,040
1,000 Village Ctr Cmnty Dev Dist FL Util
Rev (FGIC Insd) (d) 6.000 11/01/18 1,194,950
1,000 Volusia Cnty, FL Ed Fac Auth Rev
Ed Fac Embry Riddle Aero Ser A 5.750 10/15/29 1,010,240
3,000 West Orange Hlthcare Dist FL
Ser A 5.800 02/01/31 3,084,960
820 West Palm Beach, FL Cmnty
Redev Agy Northwood -
Pleasant Cmnty Redev Ser A 5.000 03/01/35 762,018
--------------
379,513,096
--------------
GEORGIA 3.1%
2,000 Atlanta, GA Arpt Passenger Fac
Charge Rev Gen Sub Lien Ser
C (FSA Insd) 5.000 01/01/33 2,041,160
2,187 Fulton Cnty, GA Lease Rev
(Acquired 12/23/94, Cost
$2,187,000) (g) 7.250 06/15/10 2,246,457
1,500 George L Smith II GA World
Congress Cent Auth Rev
Domed Stadium Proj Rfdg
(MBIA Insd) (AMT) 5.500 07/01/20 1,552,800
3,000 Georgia Muni Elec Auth Pwr Rev
Rfdg Ser B (FGIC Insd) 6.250 01/01/17 3,625,860
2,635 Georgia Muni Elec Auth Pwr Rev
Ser A (MBIA Insd) 6.500 01/01/20 3,365,633
5,815 Georgia Muni Elec Auth Pwr Rev
Ser Y (MBIA Insd) 6.500 01/01/17 6,866,472
85 Georgia Muni Elec Auth Pwr Rev
Ser Y (MBIA Insd) (Prerefunded
@ 1/01/14) 6.500 01/01/17 101,703
1,000 Georgia St Hsg & Fin Auth Rev
Single Family Mtg Ser D2
(AMT) 5.250 12/01/37 999,180
2,000 Municipal Elec Auth GA
Combustion Turbine Proj Ser A
(MBIA Insd) 5.250 11/01/22 2,123,040
800 Royston, GA Hosp Auth Hosp
Rev Ctf Hlthcare Sys Inc 6.700 07/01/16 820,232
2,500 Royston, GA Hosp Auth Hosp
Rev Ctf Hlthcare Sys Inc Rfdg 6.500 07/01/27 2,532,550
--------------
26,275,087
--------------
IDAHO 0.2%
1,340 Idaho Hlth Fac Auth Rev Vly Vista
Care Corp Rfdg 6.125 11/15/27 1,317,984
--------------
ILLINOIS 9.6%
1,910 Bartlett, IL Tax Increment Rev
Rfdg Sr Lien Quarry Redev
Proj 5.600 01/01/23 1,905,110
2,000 Bedford Park, IL Rfdg Ser A (FSA
Insd) 5.250 12/15/20 2,220,180
2,000 Chicago, IL Brd of Ed (FGIC Insd)
(Prerefunded @ 12/01/10) 5.500 12/01/31 2,172,100
1,500 Chicago, IL Lakefront Millennium
Pk Fac (MBIA Insd)
(Prerefunded @ 1/01/09) 5.125 01/01/28 1,571,160
5,000 Chicago, IL O'Hare Intl Arpt Rev
Gen Arpt Third Lien (MBIA
Insd) (b) 5.250 01/01/23 5,218,475
4,400 Chicago, IL O'Hare Intl Arpt Rev
Gen Arpt Third Lien (MBIA
Insd) (b) 5.250 01/01/24 4,545,453
11,500 Chicago, IL O'Hare Intl Arpt Rev
Gen Arpt Third Lien (MBIA
Insd) (b) 5.250 01/01/25 11,880,161
3,000 Chicago, IL O'Hare Intl Arpt Rev
Gen Arpt Third Lien C-2 Rfdg
(XLCA Insd) (AMT) 5.250 01/01/34 2,995,650
1,500 Chicago, IL O'Hare Intl Arpt Rev
Gen Arpt Third Lien Rfdg Ser
C-2 (FSA Insd) (AMT) 5.250 01/01/30 1,526,625
1,000 Chicago, IL O'Hare Intl Arpt Rev
Second Lien Passenger Fac Ser
B (AMBAC Insd) 5.500 01/01/16 1,079,920
2,000 Chicago, IL O'Hare Intl Arpt Rev
Second Lien Passenger Fac Ser
B (AMBAC Insd) 5.500 01/01/17 2,159,840
3,500 Chicago, IL Proj Rfdg Ser A
(MBIA Insd) (h) 5.000 01/01/31 3,566,465
375 Chicago, IL Proj Rfdg Ser C
(FGIC Insd) 5.750 01/01/14 404,400
375 Chicago, IL Proj Rfdg Ser C
(FGIC Insd) 5.750 01/01/15 404,400
1,000 Chicago, IL Rfdg Ser B (AMBAC
Insd) 5.125 01/01/15 1,099,610
1,000 Cook Cnty, IL Ser A (FGIC Insd)
(Prerefunded @ 5/15/11) 5.500 11/15/31 1,095,610
3,500 Du Page Cnty, IL Fst Presv Dist * 11/01/10 3,264,940
2,310 Illinois Dev Fin Auth Rev Adventist
Hlth Ser A (MBIA Insd) 5.500 11/15/13 2,572,208
2,500 Illinois Dev Fin Auth Rev Adventist
Hlth Ser A (MBIA Insd) 5.500 11/15/15 2,813,300
1,475 Illinois Dev Fin Auth Rev Loc Govt
Pgm Geneva Cmnty 304 Ser B
(FSA Insd) (Prerefunded @
1/01/12) (a) 5.750 01/01/15 1,646,041
1,145 Illinois Dev Fin Auth Rev Loc Govt
Pgm Geneva Cmnty 304 Ser B
(FSA Insd) (Prerefunded @
1/01/12) (a) 5.750 01/01/17 1,277,774
400 Illinois Fin Auth Rev Christian
Homes Inc Rfdg Ser A 5.750 05/15/31 370,288
2,000 Illinois Fin Auth Rev IL Inst of
Technology Ser A 5.000 04/01/31 1,917,760
1,000 Illinois Fin Auth Rev IL Fin
Auth Roosevelt Univ 5.500 04/01/37 999,190
2,500 Illinois Fin Auth Rev Osf Hlthcare
Sys Ser A 5.750 11/15/37 2,541,850
3,500 Illinois Fin Auth Rev Sherman Hlth
Sys Ser A 5.500 08/01/37 3,447,255
1,330 Illinois Fin Auth Solid Waste Rev
Disp Waste Mgmt Inc Proj
(AMT) 5.050 08/01/29 1,235,916
1,250 Illinois Hlth Fac Auth Rev
Evangelical Hosp Ser C (FSA
Insd) 6.750 04/15/17 1,506,137
2,275 Illinois Hlth Fac Auth Rev South
Suburban Hosp (d) 7.000 02/15/18 2,751,817
4,750 Illinois Hsg Dev Auth Rev
Homeowner Mtg Sub Ser C-2
(AMT) 5.150 08/01/37 4,703,783
285 Illinois St (FGIC Insd) 5.250 12/01/20 285,599
250 Metropolitan Pier & Expo Auth IL
Dedicated St Tax Rev
McCormick Pl Expn Proj Ser A
(FGIC Insd) 5.375 12/15/18 261,895
1,000 Schaumburg, IL Ser B (FGIC
Insd) 5.000 12/01/41 1,019,930
2,020 University IL Univ Rev Auxiliary
Fac Sys (MBIA Insd) 4.500 04/01/36 1,967,621
775 Will Kankakee Regl Dev Auth IL
Multi-Family Hsg Rev Sr Estates
Supportive Living (AMT) 7.000 12/01/42 775,822
1,500 Yorkville, IL Utd City Spl Svc Area
Spl Tax No 2006-113
Cannonball/Beecher 5.750 03/01/28 1,380,240
--------------
80,584,525
--------------
INDIANA 3.1%
2,560 East Washington, IN Multi Sch
Bldg Corp First Mtg (FGIC Insd)
(Prerefunded @ 7/15/12) 5.375 07/15/28 2,852,915
1,660 Indiana Hlth & Ed Fac Fin Auth
Hosp Rev Clarian Hlth Oblig Ser
A 5.000 02/15/36 1,605,303
1,300 Indiana Hlth & Ed Fac Fin Auth Hosp
Rev Cmnty Fndtn Northwest IN 5.500 03/01/37 1,225,458
5,600 Indiana Hlth & Ed Fac Fin Auth
Rev Ascension Hlth Sr
Credit (b) 5.000 11/15/36 5,653,144
4,000 Indiana Hlth Fac Fin Auth Rev
Deaconess Hosp Ser A
(AMBAC Insd) 5.375 03/01/34 4,085,040
3,000 Indiana Muni Pwr Agy Pwr Supply
Sys Rev Ser A 5.000 01/01/42 3,031,050
5,500 Indiana St Hsg & Cmnty Dev Auth
Single Family Mtg Rev Ser D1
(GNMA Collateralized)
(AMT) (b) 4.625 07/01/38 4,936,195
1,280 North Adams, IN Cmnty Sch
Renovation Bldg Corp Cap
Apprec First Mtg (FSA Insd) (a) * 01/15/19 820,557
1,500 Petersburg, IN Pollutn Ctl Rev IN
Pwr & Lt (AMT) 5.950 12/01/29 1,507,650
500 Vigo Cnty, IN Hosp Auth Rev
Union Hosp Inc (c) 5.750 09/01/42 472,475
--------------
26,189,787
--------------
IOWA 1.9%
1,685 Des Moines, IA Pub Pkg Sys Ser
A (FGIC Insd) (a) 5.750 06/01/15 1,797,558
1,785 Des Moines, IA Pub Pkg Sys Ser
A (FGIC Insd) (a) 5.750 06/01/16 1,904,649
500 Jefferson Cnty, IA Hosp Rev
Jefferson Cnty Hosp Proj Ser
C 5.950 08/01/37 474,315
500 Sibley, IA Hlthcare Fac Rev
Osceola Cmnty Hosp Proj 6.000 12/01/37 484,450
2,750 Tobacco Settlement Auth IA Tob
Settlement Rev Asset Bkd Ser
C 5.375 06/01/38 2,502,087
6,700 Tobacco Settlement Auth IA Tob
Settlement Rev Ser C 5.500 06/01/42 6,173,514
2,750 Tobacco Settlement Auth IA Tob
Settlement Rev Ser C 5.625 06/01/46 2,578,153
--------------
15,914,726
--------------
KANSAS 1.3%
3,810 Kansas St Dev Fin Auth Rev KS
Proj Ser N (AMBAC Insd) (a) 5.250 10/01/22 4,044,010
1,100 Labette Cnty, KS Hosp Rev Rfdg
& Impt Ser A 5.750 09/01/37 1,100,341
1,250 Lenexa, KS Hlthcare Fac Rev
Rfdg & Impt 5.500 05/15/39 1,136,813
3,300 Manhattan, KS Hlthcare Fac Rev
Meadowlark Hills Retirement Ser
A 5.000 05/15/24 2,997,984
1,650 Manhattan, KS Hlthcare Fac Rev
Meadowlark Hills Retirement Ser A 5.000 05/15/36 1,418,521
700 Manhattan, KS Hlthcare Fac Rev
Meadowlark Hills Retirement Ser
B 5.125 05/15/42 599,648
--------------
11,297,317
--------------
KENTUCKY 1.4%
5,900 Kentucky Hsg Corp Hsg Rev Ser
A (AMT) (b) 4.650 07/01/37 5,470,878
6,725 Louisville & Jefferson Cnty, KY
Metro Govt Hlth Sys Rev (b) 5.250 10/01/36 6,671,053
--------------
12,141,931
--------------
LOUISIANA 1.6%
3,000 Lafayette, LA Util Rev (MBIA Insd) 5.250 11/01/21 3,213,120
1,500 Lakeshore Vlg Master Cmnty
Dev Dist LA Spl Assmt 5.250 07/01/17 1,363,095
2,440 Louisiana Hsg Fin Agy Rev Azalea
Estates Rfdg Ser A (GNMA
Collateralized) (AMT) 5.375 10/20/39 2,458,154
6,600 Louisiana St Gas & Fuels Tax Rev
Ser A (FGIC Insd) (b) 5.000 05/01/41 6,637,158
--------------
13,671,527
--------------
MARYLAND 1.6%
470 Baltimore, MD Convention Ctr
Hotel Rev Sr Ser A (XLCA
Insd) 5.250 09/01/24 470,780
2,530 Baltimore, MD Convention Ctr
Hotel Rev Sr Ser A (XLCA
Insd) 5.250 09/01/25 2,522,688
1,050 Gaithersburg, MD Econ Dev Rev
Asbury MD Oblig Group A 5.125 01/01/36 972,290
1,635 Maryland St Cmnty Dev Admin
Dept Hsg & Cmnty Dev Ser H
(AMT) 5.100 09/01/37 1,614,023
2,500 Maryland St Hlth & Higher Ed Fac
Auth Rev MD Inst College of
Art 5.000 06/01/40 2,347,700
2,750 Maryland St Hlth & Higher Ed Fac
Auth Rev Mercy Med Ctr Ser A 5.500 07/01/42 2,715,543
2,250 Maryland St Trans Auth Arpt
Baltimore/WA Intl Arpt Ser B
(AMBAC Insd) (AMT) 5.125 03/01/24 2,283,345
950 Prince Georges Cnty, MD Spl
Oblig Natl Harbor Proj 5.200 07/01/34 833,387
--------------
13,759,756
--------------
MASSACHUSETTS 4.9%
650 Massachusetts St Dev Fin Agy
Linden Ponds Inc Fac Ser A 5.750 11/15/35 601,309
750 Massachusetts St Dev Fin Agy
Rev Linden Ponds Inc Fac Ser
A 5.750 11/15/42 680,812
2,750 Massachusetts St Fltg Cons Ln
Ser A (FGIC Insd) (b) (i) 4.149 05/01/37 2,318,364
500 Massachusetts St Hlth & Ed Fac
Auth Rev Hlthcare Sys
Covenant (Prerefunded @
1/01/12) 6.000 07/01/31 531,444
965 Massachusetts St Hlth & Ed Fac
Auth Rev Partn Hlth Ser C
(Prerefunded @ 7/01/11) 5.750 07/01/32 1,076,438
35 Massachusetts St Hlth & Ed Fac
Auth Rev Partn Hlthcare Sys
Ser C 5.750 07/01/32 37,202
5,835 Massachusetts St Hlth & Ed Fac
Auth Rev Univ MA Mem Issue
Ser D 5.000 07/01/33 5,337,333
7,785 Massachusetts St Hsg Fin Agy
Hsg Rev Single Family Hsg Ser
126 (AMT) (b) 4.550 06/01/27 7,408,799
2,000 Massachusetts St Hsg Fin Agy
Hsg Rev Single Family Hsg Ser
126 (AMT) (b) 4.625 06/01/32 1,857,909
5,865 Massachusetts St Hsg Fin Agy
Hsg Rev Single Family Hsg Ser
126 (AMT) (b) 4.700 06/01/38 5,840,071
1,000 Massachusetts St Hsg Fin Agy
Hsg Ser A (AMT) 5.100 12/01/27 1,004,720
2,805 Massachusetts St Port Auth Rev
Ser A (MBIA Insd) 5.000 07/01/22 2,934,030
6,750 Massachusetts St Sch Bldg Auth
Dedicated Sales Tax Rev Ser
A (b) 4.500 08/15/35 6,986,656
4,500 Massachusetts St Wtr Res Auth
Gen Ser A (b) 5.000 08/01/41 4,655,880
--------------
41,270,967
--------------
MICHIGAN 4.9%
3,015 Detroit, MI Downtown Dev Auth
Tax Increment Rev Ser C1 * 07/01/17 2,032,261
3,050 Detroit, MI Downtown Dev Auth
Tax Increment Rev Ser C1 (a) * 07/01/18 1,942,575
3,050 Detroit, MI Downtown Dev Auth
Tax Increment Rev Ser C1 (a) * 07/01/19 1,831,403
3,050 Detroit, MI Downtown Dev Auth
Tax Increment Rev Ser C1 (a) * 07/01/22 1,520,333
3,050 Detroit, MI Downtown Dev Auth
Tax Increment Rev Ser C1 (a) * 07/01/23 1,424,868
3,050 Detroit, MI Downtown Dev Auth
Tax Increment Rev Ser C1 (a) * 07/01/24 1,338,981
2,965 Detroit, MI Wtr Supply Sys Ser C
(MBIA Insd) (a) 5.250 07/01/20 3,221,206
3,500 Grand Rapids, MI Downtown Dev
Cap Apprec (MBIA Insd) * 06/01/15 2,685,690
2,765 Grand Rapids, MI Downtown Dev
Cap Apprec (MBIA Insd) * 06/01/16 2,021,492
2,000 Grand Rapids, MI Wtr Supply Sys
Rfdg (FGIC Insd) 5.750 01/01/13 2,164,080
2,000 Kent Hosp Fin Auth MI Rev Metro
Hosp Proj Ser A 6.000 07/01/35 2,064,420
2,850 Michigan St Hosp Fin Auth Rev
Ascension Hlth Cr Ser A (MBIA
Insd) (Prerefunded @
11/15/09) 5.750 11/15/18 3,054,858
2,500 Michigan St Strategic Fd Detroit
Edison Co Proj Rfdg Ser C
(XLCA Insd) (AMT) 5.450 12/15/32 2,537,925
2,500 Michigan St Strategic Fd Detroit
Edison Co Proj Ser A (XLCA
Insd) (AMT) 5.500 06/01/30 2,558,575
2,500 Michigan St Strategic Fd Detroit
Edison Pollutn Ctl Rfdg
(AMBAC Insd) (f) 4.850 09/01/30 2,639,575
1,000 Michigan St Strategic Fd Detroit
Edison Polutnl Ctl Rfdg Ser B
(AMT) 5.650 09/01/29 1,018,410
7,000 Michigan Tob Settlement Fin Auth
Tob Settlement Asset Sr Ser A 6.000 06/01/48 6,889,540
--------------
40,946,192
--------------
MINNESOTA 1.9%
1,380 Annandale, MN Econ Dev Auth Sr
Hsg & Hlthcare Rev Annandale
Care Ctr Proj Ser A 5.900 11/01/37 1,339,594
525 Chisago, MN Hlthcare Fac Rev
Cdl Homes LLC Proj 6.000 08/01/42 519,713
1,250 Dakota Cnty, MN Cmnty Dev Agy
Multi-Family Hsg Rev Com
Marice Proj Rfdg Ser A 5.000 05/01/42 1,034,787
1,000 Meeker Cnty, MN Gross Rev
Hosp Fac Mem Hosp Proj 5.750 11/01/37 954,090
5,000 Minneapolis & Saint Paul, MN
Metro Arpt Comm Arpt Rev Ser
A (FGIC Insd) (Prerefunded @
1/01/09) 5.125 01/01/31 5,187,650
50 Minnesota Agric & Econ Dev Brd
Rev Hlthcare Sys (MBIA Insd) 5.750 11/15/26 51,081
300 North Oaks, MN Sr Hsg Rev
Presbyterian Homes North
Oaks 6.000 10/01/27 300,405
875 North Oaks, MN Sr Hsg Rev
Presbyterian Homes North
Oaks 6.000 10/01/33 862,523
275 North Oaks, MN Sr Hsg Rev
Presbyterian Homes North
Oaks 6.125 10/01/39 273,639
2,200 Saint Paul, MN Hsg & Redev Auth
Hlthcare Fac Rev Hlth Partners
Oblig Grp Proj 5.250 05/15/36 2,113,738
1,100 Saint Paul, MN Hsg & Redev Auth
Hosp Rev Hlth East Proj 6.000 11/15/30 1,108,723
2,650 Saint Paul, MN Hsg & Redev Auth
Hosp Rev Hlth East Proj 6.000 11/15/35 2,663,621
--------------
16,409,564
--------------
MISSOURI 3.0%
245 Cape Girardeau Cnty, MO Indl
Dev Auth Hlthcare Fac Rev
Southeast MO Hosp Assoc 5.625 06/01/27 246,100
1,255 Cape Girardeau Cnty, MO Indl
Dev Auth Hlthcare Fac Rev
Southeast MO Hosp Assoc
(Prerefunded @ 06/01/12) 5.625 06/01/27 1,403,466
1,500 Cass Cnty, MO Hosp Rev 5.625 05/01/38 1,465,755
1,250 Cole Cnty, MO Indl Dev Auth Sr
Living Fac Rev Lutheran Sr Svc
Heisinger Proj 5.500 02/01/35 1,262,387
1,625 Jefferson Cnty, MO Reorg Sch
Dist No R-6 (FGIC Insd) 5.625 03/01/20 1,721,135
2,500 Joplin, MO Indl Dev Auth Indl Rev
Rfdg Christian Homes Inc Ser
F 5.750 05/15/26 2,338,550
1,000 Joplin, MO Indl Dev Auth Indl Rev
Rfdg Christian Homes Inc Ser
F 5.750 05/15/31 918,920
1,500 Kansas City, MO Metro Cmnty
Leasehold Jr College Impt &
Rfdg (FGIC Insd) (Prerefunded
@ 7/01/11) 5.500 07/01/17 1,647,225
1,325 Maryland Heights, MO Tax
Increment Rev South Heights
Redev Proj Rfdg Ser A 5.500 09/01/18 1,329,677
1,250 Saint Charles, MO Ctf Partn Ser B 5.500 05/01/18 1,338,337
900 Saint Louis, MO Indl Dev Auth Tax
Increment & Cmnty Impt Dist
Rfdg Loughborough Com
Redev 5.750 11/01/27 893,088
1,250 Saint Louis Cnty, MO Indl Dev Auth
Sr Living Fac Rev Friendship
Vlg West Cnty Ser A 5.375 09/01/21 1,215,913
975 Saint Louis Cnty, MO Indl Dev Auth
Sr Living Fac Rev St Andrews
Res For Srs Ser A 6.375 12/01/30 977,009
2,335 Saint Louis Cnty, MO Indl Dev Auth
Sr Living Fac Rev St Andrews
Res For Srs Ser A 6.375 12/01/41 2,328,299
3,025 Springfield, MO Pub Bldg Corp
Leasehold Rev Springfield
Branson Arpt Ser B (AMBAC
Insd) (AMT) (b) 4.550 07/01/29 2,740,824
3,675 Springfield, MO Pub Bldg Corp
Leasehold Rev Springfield
Branson Arpt Ser B (AMBAC
Insd) (AMT) (b) 4.600 07/01/36 3,329,761
--------------
25,156,446
--------------
NEBRASKA 0.9%
2,615 Omaha Pub Pwr Dist NE Elec
Rev Sub Sys Ser A 5.000 02/01/34 2,676,871
5,050 Omaha Pub Pwr Dist NE Elec
Rev Sub Sys Ser AA (FGIC
Insd) (b) 4.500 10/01/34 5,108,475
--------------
7,785,346
--------------
NEVADA 1.9%
4,900 Clark Cnty, NV Indl Dev Rev
Southwest Gas Corp Proj
Ser A (FGIC Insd) (b) 4.750 09/01/36 4,643,265
3,000 Clark Cnty, NV Indl Dev Rev
Southwest Gas Corp Proj Ser A
(AMBAC Insd) (AMT) 5.250 07/01/34 3,014,460
3,500 Clark Cnty, NV Indl Dev
Southwest Gas Corp Proj Ser
D1 (FGIC Insd) (AMT) 5.250 03/01/38 3,519,390
3,460 Reno, NV Hosp Rev Regl Med Ctr
Proj Ser A (b) 5.250 06/01/37 3,391,284
1,500 Reno, NV Sr Lien Retrac Reno
Trans Proj (AMBAC Insd)
(Prerefunded @ 6/01/12) 5.125 06/01/32 1,650,855
--------------
16,219,254
--------------
NEW HAMPSHIRE 0.2%
1,000 New Hampshire Hlth & Ed Fac
Auth Rev Derryfield Sch 7.000 07/01/30 1,046,940
1,000 New Hampshire St Bus Fin Auth
Wtr Fac Rev Pennichuck
Wtrwks Inc (AMBAC Insd)
(AMT) 6.300 05/01/22 1,021,650
--------------
2,068,590
--------------
NEW JERSEY 6.7%
375 Burlington Cnty, NJ Brdg Commn
Econ Dev Rev The Evergreens
Proj 5.625 01/01/38 351,349
1,200 New Jersey Econ Dev Auth Cig
Tax 5.750 06/15/29 1,195,956
3,150 New Jersey Econ Dev Auth Cig
Tax 5.750 06/15/34 3,139,573
25,000 New Jersey Econ Dev Auth St
Contract Econ Recovery (MBIA
Insd) 5.900 03/15/21 29,735,500
2,000 New Jersey Hlthcare Fac Fin Auth
Rev Holy Name Hosp 5.000 07/01/36 1,826,260
2,300 New Jersey Hlthcare Fac Fin Auth
Rev Saint Peters Univ Hosp
Oblig 5.750 07/01/37 2,320,493
2,095 New Jersey St Trans Tr Fd Auth
Trans Sys Ser A 5.750 06/15/17 2,461,835
4,500 Tobacco Settlement Fin Corp NJ
Ser A1 4.750 06/01/34 3,799,035
14,000 Tobacco Settlement Fin Corp NJ
Ser A1 (b) 5.000 06/01/41 11,927,314
--------------
56,757,315
--------------
NEW MEXICO 0.2%
1,250 Jicarilla, NM Apache Nation Rev
Ser A (Acquired 10/23/03, Cost
$1,275,475) (g) 5.500 09/01/23 1,330,037
--------------
NEW YORK 11.5%
2,500 Metropolitan Trans Auth NY Rev
Rfdg Ser A (FGIC Insd) 5.250 11/15/31 2,588,400
13,750 Metropolitan Trans Auth NY Rev
Trans Ser B (b) 4.500 11/15/36 14,063,994
2,400 New York City Hsg Dev Corp
Mulit-Family Hsg Rev Ser E1
(AMT) 5.350 11/01/37 2,418,840
3,650 New York City Indl Dev Agy
Rev Liberty 7 World Trade Ctr
Proj Ser B 6.750 03/01/15 3,809,250
16,930 New York City Trans Auth Trans
Fac Livingston Plaza Proj Rfdg
Ser 1993 (FSA Insd) (d) 5.400 01/01/18 19,300,369
3,810 New York City Trans Future Tax
Second Ser C (AMBAC Insd) 5.250 08/01/20 4,109,237
2,000 New York City Trans Future Tax
Second Ser C (AMBAC Insd) 5.250 08/01/22 2,122,320
4,545 New York City Trans Future Tax
Second Ser D (MBIA Insd) 5.250 02/01/21 4,908,009
2,500 New York St Dorm Auth Lease
Rev Muni Hlth Fac Impt Pgm
Ser A (FSA Insd) 5.500 05/15/25 2,553,975
7,485 New York St Dorm Auth Rev City
Univ Sys Ser C 7.500 07/01/10 7,976,091
3,000 New York St Dorm Auth Rev Hosp
(MBIA Insd) 5.000 08/01/33 3,067,620
2,000 New York St Dorm Auth Rev St
Univ Ed Fac 1989 Res (MBIA
Insd) (Prerefunded @ 5/15/10) 6.000 05/15/16 2,184,620
3,000 New York St Dorm Auth Rev St
Univ Ed Fac (FGIC Insd)
(Prerefunded @ 5/15/10) 5.750 05/15/24 3,260,310
2,840 New York St Loc Govt Assistance
Corp Rfdg Ser E 6.000 04/01/14 3,216,272
1,500 New York St Urban Dev Corp Rev
Correctional Fac Rfdg 5.500 01/01/13 1,628,520
12,100 Port Auth NY & NJ (b) 5.000 10/01/35 12,498,096
3,000 Port Auth NY & NJ Spl Oblig Rev
Spl Proj JFK Intl Arpt Terminal 6
(MBIA Insd) (AMT) 5.750 12/01/22 3,063,900
3,000 Port Auth NY & NJ Spl Oblig Rev
Spl Proj JFK Intl Arpt Terminal 6
(MBIA Insd) (AMT) 5.750 12/01/25 3,004,110
950 Seneca Nation Indians Cap Impt
Auth NY Spl Oblig Ser A (c) 5.000 12/01/23 875,121
--------------
96,649,054
--------------
NORTH CAROLINA 5.1%
2,000 Charlotte, NC Ctf Partn
Convention Fac Proj Rfdg Ser
A 5.500 08/01/19 2,184,940
4,000 North Carolina Eastern Muni Pwr
Agy Pwr Sys Rev Ser D 6.750 01/01/26 4,223,080
7,525 North Carolina Med Care Commn
Hlth Sys Rev Mission Hlth
Combined Group (b) 5.000 10/01/36 7,533,046
1,500 North Carolina Med Care Commn
Retirement Fac Rev First Mtg
Southminster Proj Ser A 5.750 10/01/37 1,469,550
25,000 North Carolina Muni Pwr Agy No 1
Catawba Elec Rev Rfdg (MBIA
Insd) 6.000 01/01/12 27,991,750
--------------
43,402,366
--------------
NORTH DAKOTA 0.2%
570 North Dakota St Hsg Fin Agy Rev
Hsg Fin Pgm Home Mtg Fin Ser
B (MBIA Insd) (AMT) 5.500 07/01/29 582,238
1,500 Ward Cnty, ND Hlthcare Fac Rev
Trinity Obligated Group Rfdg 5.125 07/01/29 1,471,260
--------------
2,053,498
--------------
OHIO 5.4%
12,400 Buckeye, OH Tob Settlement Fin
Auth Asset Bkd Sr Turbo Ser
A-2 5.750 06/01/34 11,951,368
6,500 Buckeye, OH Tob Settlement Fin
Auth Asset Bkd Sr Turbo Ser
A-2 5.875 06/01/30 6,467,370
6,750 Buckeye, OH Tob Settlement Fin
Auth Asset Bkd Sr Turbo Ser
A-2 5.875 06/01/47 6,518,947
1,000 Cleveland, OH Muni Sch Dist
(FSA Insd) 5.250 12/01/23 1,092,530
450 Cuyahoga Cnty, OH Hlthcare &
Indpt Living Fac Rev Eliza
Jennings Sr Care Ser A 5.750 05/15/27 428,319
2,000 Cuyahoga Cnty, OH Hosp Fac
Rev Canton Inc Proj 7.500 01/01/30 2,163,120
1,000 Delaware Cnty, OH Cap Fac
(Prerefunded @ 12/01/10) 6.000 12/01/25 1,109,040
1,000 Hamilton, OH One Renaissance
Ctr Ser A (AMBAC Insd) 5.500 11/01/16 1,101,700
1,000 Lorain Cnty, OH Hosp Rev
Catholic Hlthcare Ser S 5.375 10/01/30 1,019,740
13,450 Ohio St Air Quality Dev Auth Rev
(FGIC Insd) (b) 4.800 09/01/36 12,976,174
1,000 Ohio St Higher Ed Fac Cmnty Rev
Hosp Univ Hosp Hlth Sys Inc
Ser A 5.250 01/15/46 973,510
--------------
45,801,818
--------------
OKLAHOMA 1.0%
1,505 Alva, OK Hosp Auth Hosp Rev
Sales Tax (Radian Insd) 5.250 06/01/25 1,528,222
2,175 Chickasaw Nation, OK Hlth Sys 6.250 12/01/32 2,242,099
1,500 Jenks, OK Aquarium Auth Rev
First Mtg (MBIA Insd)
(Prerefunded @ 7/01/10) 6.100 07/01/30 1,646,850
1,575 Oklahoma City, OK Arpt Tr Jr Lien
27th Ser B (FSA Insd) (AMT) 5.750 07/01/16 1,635,811
1,000 Oklahoma City, OK Pub Ppty Auth
Hotel Tax Rev (FGIC Insd) 5.250 10/01/29 1,045,470
--------------
8,098,452
--------------
OREGON 2.3%
5,350 Oregon Hlth Sciences Univ Insd
Ser A (MBIA Insd) 5.250 07/01/22 5,660,300
5,060 Oregon St Dept Admin Rfdg Ser
C (MBIA Insd) 5.250 11/01/17 5,491,922
3,000 Oregon St Hsg & Cmnty Svcs Mtg
Rev, Class B Ser B (AMT) (b) 4.750 04/01/27 2,861,996
1,330 Oregon St Hsg & Cmnty Svcs Mtg
Rev, Class B Ser B (AMT) (b) 4.800 04/01/32 1,268,818
1,900 Oregon St Hsg & Cmnty Svcs Mtg
Rev, Class B Ser B (AMT) (b) 4.850 04/01/37 1,812,598
1,985 Portland, OR Urban Renewal &
Redev Downtown Wtrfront Ser
A (AMBAC Insd) 5.750 06/15/16 2,133,954
--------------
19,229,588
--------------
PENNSYLVANIA 4.7%
2,750 Allegheny Cnty, PA Hosp Dev
Auth Rev Hlth Sys Ser A 5.000 11/15/28 2,388,760
575 Allegheny Cnty, PA Rfdg Ser
C-53 (FGIC Insd) 5.500 11/01/14 621,523
230 Allegheny Cnty, PA San Auth Swr
Rev (MBIA Insd) 5.500 12/01/30 242,717
2,615 Falls Twp, PA Hosp Auth Hosp
Rev DE Vly Med Rfdg
(FHA Gtd) 7.000 08/01/22 2,636,469
1,000 Greensburg Salem, PA Sch Dist
Rfdg (FGIC Insd) 5.375 09/15/15 1,097,190
875 Montgomery Cnty, PA Indl Dev
Auth Rev Mtg Whitemarsh Cont
Care Proj 6.250 02/01/35 872,734
1,550 Pennsylvania Econ Dev Fin Auth
Exempt Fac Rev Reliant Energy
Ser B (AMT) 6.750 12/01/36 1,588,626
1,600 Pennsylvania Hsg Fin Agy Single
Family Mtg Rev Ser 94-A
(AMT) 5.100 10/01/31 1,594,432
6,000 Pennsylvania Hsg Fin Agy Single
Family Mtg Rev Ser 99-A
(AMT) (b) 5.250 10/01/32 6,026,520
9,240 Pennsylvania St Pub Sch Bldg
Auth Lease Rev Sch Dist
Philadelphia Proj, Class B Ser
B (b) 4.500 06/01/32 9,219,660
2,600 Philadelphia, PA Auth Indl Dev
Lease Rev Ser B (FSA Insd)
(Prerefunded @ 10/01/11) 5.500 10/01/16 2,899,676
1,000 Philadelphia, PA Auth Indl Dev PA
Arpt Sys Proj Ser A (FGIC Insd)
(AMT) 5.125 07/01/19 1,027,560
2,400 Philadelphia, PA Gas Wks Rev
1998 Gen Ordinance Ser 4
(FSA Insd) 5.250 08/01/22 2,551,056
2,350 Pittsburgh, PA Ser A (AMBAC
Insd) 5.500 09/01/16 2,568,949
2,220 Pittsburgh, PA Ser A (AMBAC
Insd) (Prerefunded @ 3/01/12) 5.500 09/01/16 2,470,372
1,580 Ridley Park, PA Hosp Auth Rev
Taylor Hosp Ser A (d) 6.000 12/01/13 1,738,205
--------------
39,544,449
--------------
RHODE ISLAND 0.1%
1,100 Rhode Island Hsg & Mtg Fin Corp
Homeownership Oppty Ser 57-B
(AMT) 5.350 10/01/37 1,107,436
--------------
SOUTH CAROLINA 7.4%
2,375 Berkeley Cnty, SC Sch Dist Ctf
Partn Berkeley Sch Fac Grp Inc
(MBIA Insd) (d) 5.250 02/01/16 2,665,130
13,500 Charleston Ed Excellence Fin
Corp SC Rev (b) 5.250 12/01/25 14,019,143
3,490 Charleston Ed Excellence Fin
Corp SC Rev (AGC Insd) (b) 5.250 12/01/28 3,679,708
6,510 Charleston Ed Excellence Fin
Corp SC Rev (AGC Insd) (b) 5.250 12/01/30 6,863,867
5,000 Kershaw Cnty, SC Pub Sch Fndt
Kershaw Cnty Sch Dist Proj
(CIFG Insd) 5.000 12/01/25 5,098,050
2,080 Laurens Cnty, SC Sch Dist No 55
Installment Pur Rev 5.250 12/01/30 2,029,851
1,840 Myrtle Beach, SC Hospitality Fee
Rev Ser A (FGIC Insd) (a) 5.375 06/01/21 2,000,264
1,935 Myrtle Beach, SC Hospitality Fee
Rev Ser A (FGIC Insd) (a) 5.375 06/01/22 2,086,936
1,400 South Carolina Jobs Econ Dev
Auth Hlth Fac Rev First Mtg
Wesley Com Rfdg 5.300 10/01/36 1,216,026
1,100 South Carolina Jobs Econ Dev
Auth Hlthcare Fac Rev Rfdg
First Mtg Lutheran Homes 5.500 05/01/28 1,008,799
3,000 South Carolina Jobs Econ Dev
Auth Hosp Fac Rev Palmetto
Hlth Alliance Rfdg Ser A 6.250 08/01/31 3,104,820
4,500 South Carolina Jobs Econ Dev
Auth Indl Rev Elec & Gas Co
Proj Ser A (AMBAC Insd) 5.200 11/01/27 4,702,320
3,750 South Carolina Jobs Econ Dev
Auth Indl Rev Elec & Gas Co
Proj Ser B (AMBAC Insd)
(AMT) 5.450 11/01/32 3,843,675
750 South Carolina Jobs Econ Dev
Auth Rev Woodlands at Furman
Proj Ser A 6.000 11/15/27 735,458
9,290 South Carolina Trans
Infrastructure Bk Rev Ser A
(AMBAC Insd) 5.000 10/01/33 9,468,275
--------------
62,522,322
--------------
SOUTH DAKOTA 1.0%
2,250 Deadwood, SD Ctf Partn (ACA
Insd) 6.375 11/01/20 2,379,667
4,500 South Dakota Hsg Dev Auth
Homeownership Mtg Ser E
(AMT) (b) 4.625 05/01/36 4,115,700
1,000 South Dakota St Hlth & Ed Fac
Auth Rev Children's Care Hosp
Rfdg (Prerefunded @
11/01/09) 6.125 11/01/29 1,077,050
845 South Dakota St Hlth & Ed Fac
Auth Vocational Ed Pgm Ser A
(AMBAC Insd) 5.400 08/01/13 856,602
--------------
8,429,019
--------------
TENNESSEE 2.6%
4,345 Chattanooga, TN Hlth Ed & Hsg
Fac Brd Rev CDFI Phase I LLC
Proj Rfdg Ser A 5.125 10/01/35 3,929,140
3,500 Johnson City, TN Hlth & Ed Fac
Brd Hosp Rev First Mtg Mtn St
Hlth Rfdg Ser A (MBIA Insd)
(Prerefunded @ 7/01/12) 7.500 07/01/25 4,126,500
7,095 Johnson City, TN Hlth & Ed Fac
Brd Hosp Rev First Mtg Mtn St
Hlth Ser A 5.500 07/01/36 6,949,836
410 Montgomery Cnty, TN Pub Impt
Rfdg (FGIC Insd) (a) 5.500 05/01/16 449,565
2,000 Sullivan Cnty, TN Hlth Ed & Hsg
Fac Brd Hosp Rev Wellmont
Hlth Sys Proj Ser C 5.250 09/01/36 1,907,520
2,000 Tennessee Energy Acquisition
Corp Gas Rev Ser A 5.250 09/01/21 2,067,140
1,000 Tennessee Energy Acquisition
Corp Gas Rev Ser A 5.250 09/01/24 1,006,020
1,465 Tennessee Hsg Dev Agy
Homeownership Prog 2006
(AMT) 5.150 01/01/37 1,450,790
--------------
21,886,511
--------------
TEXAS 11.0%
2,685 Beaumont, TX Wtrwks & Swr Sys
(FGIC Insd) (Prerefunded @
9/01/10) (a) 6.250 09/01/15 2,947,486
300 Brazos Cnty, TX Hlth Fac Dev
Oblig Grp 5.375 01/01/32 302,403
1,200 Dallas Cnty, TX Flood Ctl Dist
Rfdg 6.750 04/01/16 1,247,436
4,000 Dallas-Fort Worth, TX Intl Arpt
Rev Jt Impt & Rfdg Ser A (FGIC
Insd) (AMT) 5.500 11/01/31 4,064,160
4,000 Dallas-Fort Worth, TX Intl Arpt
Rev Jt Ser A (FGIC Insd)
(AMT) 5.750 11/01/30 4,096,120
1,000 Harris Cnty, TX Hlth Fac Dev
Mem Hermann Hlthcare Ser A
(Prerefunded @ 6/01/11) 6.375 06/01/29 1,128,300
4,820 Harris Cnty, TX Toll Rd (AMBAC
Insd) (Prerefunded @ 8/15/09) * 08/15/18 2,507,075
1,000 Harris Cnty, TX Toll Rd (AMBAC
Insd) (Prerefunded @ 8/15/09) * 08/15/21 423,130
4,750 Harris Cnty-Houston, TX Sports
Auth Spl Rev Jr Lien Rfdg Ser B
(MBIA Insd) 5.250 11/15/40 4,850,605
1,000 Houston, TX Arpt Sys Rev Sub
Lien Ser A (FSA Insd) (AMT) 5.625 07/01/30 1,028,790
5,105 Houston, TX Hotel Occupancy
Tax & Spl Rev Convention &
Entmt Ser B (AMBAC Insd) 5.750 09/01/15 5,606,311
225 Houston, TX Pub Impt & Rfdg
(FSA Insd) 5.750 03/01/15 242,651
6,000 Houston, TX Util Sys Rev First
Lien Rfdg Ser A (FSA Insd) 5.250 05/15/21 6,585,660
2,750 Lower CO Riv Auth TX
Transmission Proj Corp (FGIC
Insd) 5.000 05/15/33 2,774,255
1,650 Lufkin, TX Hlth Fac Dev Corp Hlth
Sys Rev Memorial Hlth Sys East
TX 5.500 02/15/32 1,599,708
1,250 Lufkin, TX Hlth Fac Dev Corp Hlth
Sys Rev Memorial Hlth Sys East
TX 5.500 02/15/37 1,200,137
1,500 Mesquite, TX Hlth Fac Dev
Retirement Fac Christian Care
Ctr 5.625 02/15/35 1,424,205
1,500 Mesquite, TX Hlth Fac Dev
Retirement Fac Christian Care
Ctr (Prerefunded @ 2/15/10) 7.500 02/15/18 1,662,255
1,100 Metropolitan Hlth Fac Dev Corp
TX Wilson N Jones Mem Hosp
Proj 7.200 01/01/21 1,117,017
1,500 Metropolitan Hlth Fac Dev Corp
TX Wilson N Jones Mem Hosp
Proj 7.250 01/01/31 1,520,340
1,500 North Central, TX Hlth Fac Dev
Corp Rev Hosp Baylor Hlthcare
Sys Proj Ser A 5.125 05/15/29 1,506,630
5,750 North Central, TX Hlth Fac Dev
Corp Rev Hosp Childrens Med
Ctr Dallas (AMBAC Insd) 5.250 08/15/32 5,836,710
1,000 Tarrant Cnty, TX Cultural Ed Fac
Fin Corp Retirement Fac
Buckingham Sr Living Cmnty
Inc 5.625 11/15/27 920,440
4,200 Tarrant Cnty, TX Cultural Ed Fac
Fin Corp Retirement Fac
Buckingham Sr Living Cmnty
Inc 5.750 11/15/37 3,804,822
8,000 Tarrant Cnty, TX Cultural Ed Fac
Fin Corp Retirement Fac
Buckner Retirement Svcs Inc
Proj 5.250 11/15/37 7,702,240
650 Tarrant Cnty, TX Cultural Ed Fac
Fin Corp Retirement Fac CC
Young Mem Hom Proj 5.750 02/15/25 617,181
2,805 Tarrant Cnty, TX Regl Wtr Dist
Wtr Rev Impt Rfdg (FSA Insd) 5.250 03/01/19 3,045,978
1,305 Texas St Pub Ppty Fin Corp Rev
Mental Hlth & Retardation Rfdg
(FSA Insd) 5.500 09/01/13 1,308,067
8,700 Texas St Trans Commn Mobility
Fd (e) 5.000 04/01/28 9,156,489
2,750 Texas St Vets Hsg Assistance
Pgm Vet Ser B (FHA Gtd) (AMT) 6.100 06/01/31 2,819,080
1,000 Texas Tech Univ Rev Fin Sys Ser
7 (MBIA Insd) (Prerefunded @
2/15/12) 5.000 08/15/25 1,090,640
1,500 Texas Wtr Dev Brd Rev St
Revolving Fd Sr Lien Ser B 5.250 07/15/17 1,573,800
4,900 Tyler, TX Hlth Fac Dev Corp Hosp
Rev Rfdg & Impt East TX Med
Ctr Ser A 5.375 11/01/37 4,669,259
2,300 University of TX Univ Rev Fin Sys
Ser C (Prerefunded @
8/15/11) 5.375 08/15/19 2,517,281
--------------
92,896,661
--------------
UTAH 0.2%
1,000 Utah Hsg Corp Single Family Mtg
Rev Ser E (AMT) (b) 5.250 01/01/39 996,170
1,100 Utah St Charter Sch Fin Auth
Charter Sch Rev Summit
Academy Ser A 5.800 06/15/38 1,071,884
--------------
2,068,054
--------------
VIRGINIA 2.9%
1,320 Fairfax Cnty, VA Ctf Partn 5.300 04/15/23 1,389,894
750 Lexington, VA Indl Dev Auth
Residential Care Fac Rev Mtg
Kendal at Lexington Ser A 5.500 01/01/37 679,762
750 Peninsula Town Ctr Cmnty Dev
Auth VA Spl Oblig 6.450 09/01/37 748,470
800 Tobacco Settlement Fin Corp VA 5.500 06/01/26 904,200
5,920 Tobacco Settlement Fin Corp VA
(Prerefunded @ 6/01/15) 5.625 06/01/37 6,909,173
3,150 Virginia St Hsg Auth Dev Auth
Rental Hsg Ser D (AMT) (b) 4.500 07/01/29 2,922,069
3,650 Virginia St Hsg Auth Dev Auth
Rental Hsg Ser D (AMT) (b) 4.600 07/01/33 3,392,794
5,475 Virginia St Hsg Auth Dev Comwlth
Mtg Ser B (AMT) (b) 4.850 01/01/36 5,174,723
2,000 White Oak Vlg Shops VA Cmnty
Dev Auth Spl Assmt 5.300 03/01/17 1,970,900
--------------
24,091,985
--------------
WASHINGTON 5.1%
2,500 Energy Northwest WA Elec Rev
Proj No 3 Rfdg Ser A (FSA
Insd) 5.500 07/01/18 2,711,725
5,360 Energy Northwest WA Elec Rev
Proj No 3 Rfdg Ser B (FSA
Insd) 6.000 07/01/16 6,045,222
2,500 Goat Hill Ppty WA Lease Rev
Govt Office Bldg Proj (MBIA
Insd) 5.000 12/01/33 2,555,700
1,950 Kalispel Tribe Indians Priority Dist
WA Rev 6.625 01/01/28 1,942,376
4,400 King Cnty, WA Rfdg Ser B (MBIA
Insd) (Prerefunded @ 3/13/08) 5.250 01/01/34 4,460,148
7,720 Klickitat Cnty, WA Pub Util Dist
No 001 Elec Rev Rfdg Ser B
(FGIC Insd) (a) 5.000 12/01/25 8,052,655
1,000 Port Seattle, WA Rev Ser B
(MBIA Insd) (AMT) 5.625 02/01/24 1,029,060
1,435 Radford Ct Ppty WA Student Hsg
Rev (MBIA Insd) (a) 6.000 06/01/15 1,552,354
1,585 Radford Ct Ppty WA Student Hsg
Rev (MBIA Insd) (a) 6.000 06/01/16 1,715,002
1,000 Seattle, WA Muni Lt & Pwr Rev 5.625 12/01/18 1,067,240
1,250 Skagit Cnty, WA Pub Hosp Dist
No 001 Rev Skagit Vly Hosp 5.500 12/01/30 1,233,100
1,140 Skagit Cnty, WA Pub Hosp Dist
No 001 Rev Skagit Vly Hosp 5.750 12/01/32 1,145,426
2,100 Spokane, WA Pub Fac Dist Hotel
(MBIA Insd) 5.750 12/01/21 2,305,422
3,000 Spokane, WA Pub Fac Dist Hotel
Motel & Sales Use Tax (MBIA
Insd) 5.250 09/01/33 3,124,260
1,000 Spokane, WA Pub Fac Dist Hotel
Motel & Sales Use Tax (MBIA
Insd) 5.750 12/01/20 1,120,820
1,350 Tacoma, WA Elec Sys Rev Rfdg
Ser A (FSA Insd) 5.750 01/01/15 1,479,992
1,000 Washington St Hsg Fin Cmnty
Single Family Prog Ser 2-A
(GNMA Collateralized) (AMT) 4.700 12/01/38 927,430
1,000 Washington St Hsg Fin Commn
Nonprofit Rev Skyline at First
Hill Proj Ser A 5.625 01/01/38 905,210
--------------
43,373,142
--------------
WEST VIRGINIA 0.7%
250 Ohio Cnty, VA Cnty Commn Tax
Increment Rev Fort Henry Ctr
Fin Dist Ser A 5.625 06/01/22 248,280
1,500 Pleasants Cnty, VA Pollutn Ctl
Rev Cnty Comm Allegheny Rfdg
Ser F 5.250 10/15/37 1,486,500
3,750 West Virginia Univ Rev Impt Univ
Proj Ser C (FGIC Insd) 5.000 10/01/34 3,791,062
--------------
5,525,842
--------------
WISCONSIN 2.2%
2,345 Appleton, WI Wtrwks Rev Rfdg
(FGIC Insd) (Prerefunded @
1/01/12) 5.375 01/01/19 2,584,401
510 Badger Tob Asset Sec Corp WI 6.375 06/01/32 515,314
2,000 Southeast WI Professional
Baseball Pk Dist Sales Tax Rev
Rfdg Ser A (MBIA Insd) 5.500 12/15/20 2,324,660
7,500 Wisconsin Hsg & Econ Dev Auth
Home Ownership Rev Ser A
(AMT) (b) 4.750 09/01/33 7,039,137
5,935 Wisconsin Hsg & Econ Dev Auth
Home Ownership Rev Ser A
(AMT) (b) 4.800 03/01/38 5,605,568
300 Wisconsin St Hlth & Ed Fac Auth
Rev Newcastle Place Inc Ser A 6.000 12/01/27 292,506
--------------
18,361,586
--------------
WYOMING 0.2%
2,000 Sweetwater Cnty, WY Solid
Waste Disp Rev FMC Corp Proj
Rfdg (AMT) 5.600 12/01/35 1,912,240
--------------
GUAM 0.7%
5,800 Guam Pwr Auth Rev Ser A
(AMBAC Insd) 5.250 10/01/34 5,814,558
--------------
PUERTO RICO 1.5%
1,110 Puerto Rico Comwlth Aqueduct &
Swr Auth Rev Rfdg (Comwth
Gtd) 5.000 07/01/15 1,113,974
2,000 Puerto Rico Comwlth Hwy & Tran
Auth Hwy Rev Rfdg Ser W 5.500 07/01/15 2,199,840
4,000 Puerto Rico Comwlth Hwy & Tran
Auth Hwy Rev Rfdg Ser Y (FSA
Insd) 6.250 07/01/21 4,866,640
1,000 Puerto Rico Indl Tourist Ed Med &
Environmental Ctl Fac Fin Auth
Higher Ed Rev 5.375 02/01/19 1,008,800
3,500 Puerto Rico Pub Bldg Auth Rev
Govt Fac Ser I (Comwth Gtd) 5.250 07/01/33 3,482,815
--------------
12,672,069
--------------
U.S. VIRGIN ISLANDS 0.5%
1,000 Virgin Islands Pub Fin Auth Rev
Gross Rcpt Taxes Ln Nt Ser A
(ACA Insd) (Prerefunded @
10/01/10) 6.125 10/01/29 1,100,770
1,500 Virgin Islands Pub Fin Auth Rev
Gross Rcpt Taxes Ln Nt Ser A 6.375 10/01/19 1,612,335
1,000 Virgin Islands Pub Fin Auth Rev
Gross Rcpt Taxes Ln Nt Ser A
(Prerefunded @ 10/01/10) (h) 6.500 10/01/24 1,117,260
--------------
3,830,365
--------------
TOTAL LONG-TERM INVESTMENTS 198.3%
(Cost $1,642,629,591) 1,673,259,148
SHORT-TERM INVESTMENTS 1.2%
(Cost $9,545,000) 9,545,000
--------------
TOTAL INVESTMENTS 199.5%
(Cost $1,652,174,591) 1,682,804,148
LIABILITY FOR FLOATING RATE NOTE OBLIGATIONS
RELATED TO SECURITIES HELD (37.9%)
(Cost ($319,545,000))
(319,545) Notes with interest rates
ranging from 2.25% to 4.78%
at January 31, 2008 and contractual
maturities of collateral ranging from
2023 to 2047 (j) (319,545,000)
--------------
TOTAL NET INVESTMENTS 161.6%
(Cost $1,332,629,591) 1,363,259,148
OTHER ASSETS IN EXCESS OF LIABILITIES 2.0% 17,039,398
PREFERRED SHARES (INCLUDING ACCRUED DISTRIBUTIONS) (63.6%) (536,476,882)
--------------
NET ASSETS APPLICABLE TO COMMON SHARES 100.0% $ 843,821,664
==============
Percentages are calculated as a percentage of net assets applicable to common
shares.
* Zero coupon bond
(a) The Trust owns 100% of the outstanding bond issuance.
(b) Underlying security related to Inverse Floaters entered into by the Trust.
(c) 144A-Private Placement security which is exempt from registration under
Rule 144A of the Securities Act of 1933, as amended. This security may only
be resold in transactions exempt from registration which are normally those
transactions with qualified institutional buyers.
(d) Escrowed to Maturity
(e) Security purchased on a when-issued or delayed delivery basis.
(f) Variable Rate Coupon
(g) Security is restricted and may be resold only in transactions exempt from
registration which are normally those transactions with qualified
institutional buyers. Restricted securities comprise 0.5% of net assets
applicable to common shares.
(h) All or a portion of this security has been physically segregated in
connection with open futures contracts.
(i) Floating Rate Coupon
(j) Floating Rate notes. The interest rates shown reflect the rates in effect
at January 31, 2008.
ACA - American Capital Access
AGC - AGC Insured Custody Certificates
AMBAC - AMBAC Indemnity Corp.
AMT - Alternative Minimum Tax
CIFG - CDC IXIS Financial Guaranty
Comwth - Commonwealth of Puerto Rico
FGIC - Financial Guaranty Insurance Co.
FHA - Federal Housing Administration
FSA - Financial Security Assurance Inc.
GNMA - Government National Mortgage Association
MBIA - Municipal Bond Investors Assurance Corp.
Radian - Radian Asset Assurance
XLCA - XL Capital Assurance Inc.
FUTURES CONTRACTS OUTSTANDING AS OF JANUARY 31, 2008:
UNREALIZED
APPRECIATION/
CONTRACTS DEPRECIATION
---------- -------------
SHORT CONTRACTS:
U.S. Treasury Bond Futures, March 2008 (Current Notional
Value of $119,313 per contract) 1,115 $ (2,837,861)
----- -------------
Item 2. Controls and Procedures.
(a) The Trust's principal executive officer and principal financial officer have
concluded that the Trust's disclosure controls and procedures are sufficient to
ensure that information required to be disclosed by the Trust in this Form N-Q
was recorded, processed, summarized and reported within the time periods
specified in the Securities and Exchange Commission's rules and forms, based
upon such officers' evaluation of these controls and procedures as of a date
within 90 days of the filing date of the report.
(b) There were no changes in the Trust's internal control over financial
reporting that occurred during the registrant's fiscal quarter that has
materially affected, or is reasonably likely to materially affect, the Trust's
internal control over financial reporting.
Item 3. Exhibits.
(a) A certification for the Principal Executive Officer of the registrant
is attached hereto as part of EX-99.cert.
(b) A certification for the Principal Financial Officer of the registrant
is attached hereto as part of EX-99.cert.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Van Kampen Trust For Investment Grade Municipals
By: /s/ Ronald E. Robison
---------------------
Name: Ronald E. Robison
Title: Principal Executive Officer
Date: March 20, 2008
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed by the following
persons on behalf of the registrant and in the capacities and on the dates
indicated.
By: /s/ Ronald E. Robison
---------------------
Name: Ronald E. Robison
Title: Principal Executive Officer
Date: March 20, 2008
By: /s/ Stuart N. Schuldt
---------------------
Name: Stuart N. Schuldt
Title: Principal Financial Officer
Date: March 20, 2008