Principal Amount

Value

†

($000's omitted)

($000's omitted)

z

Municipal Notes (158.6%)

Alabama (0.7%)

1,900

Selma IDB Rev. (Int'l Paper Co. Proj.), Ser. 2011-A, 5.38%, due 12/1/35

2,119

ß

Arizona (6.5%)

5,000

Arizona Sch. Fac. Board Cert. of Participation, Ser. 2008, (Assured Guaranty Insured), 5.13%, due 9/1/21 Pre-Refunded 9/1/18

5,631

5,870

Mohave Co. Ind. Dev. Au. Correctional Fac. Contract Rev. (Mohave Prison LLC Expansion Proj.), Ser. 2008, 7.50%, due 5/1/19

6,609

ß

3,500

Phoenix Ind. Dev. Au. Ed. Rev. (Great Hearts Academies Proj.), Ser. 2014, 3.75%, due 7/1/24

3,479

ñß

1,500

Phoenix Ind. Dev. Au. Solid Waste Disp. Rev. (Vieste Spec. LLC), Ser. 2013-A, 4.38%, due 4/1/28

1,202

ß

400

Phoenix-Mesa Gateway Arpt. Au. Spec. Fac. Rev. (Mesa Proj.), Ser. 2012, 5.00%, due 7/1/24

454

1,745

Verrado Comm. Fac. Dist. Number 1 G.O., Ser. 2006, 5.05%, due 7/15/18

1,787

19,162

California (30.2%)

190

California HFA Rev. (Home Mtge.), Ser. 2007-E, 5.00%, due 2/1/42

196

1,755

California HFA Rev. (Home Mtge.), Ser. 2006-E, (FGIC Insured), 4.95%, due 8/1/26

1,784

2,250

California Hlth. Facs. Fin. Au. Rev. (Cedars-Sinai Med. Ctr.), Ser. 2009, 5.00%, due 8/15/39

2,491

ß

1,000

California Hlth. Facs. Fin. Au. Rev. (Children's Hosp. Los Angeles), Ser. 2012-A, 5.00%, due 11/15/26

1,110

ß

1,725

California Infrastructure & Econ. Dev. Bank St. Sch. Fund Rev. (King City Joint Union High Sch.), Ser. 2010, 5.13%, due 8/15/24

1,975

805

California Muni. Fin. Au. Charter Sch. Lease Rev. (Sycamore Academy Proj.), Ser. 2014, 5.00%, due 7/1/24

809

#ß

630

California Muni. Fin. Au. Charter Sch. Lease Rev. (Sycamore Academy Proj.), Ser. 2014, 5.13%, due 7/1/29

631

#ß

1,195

California Muni. Fin. Au. Charter Sch. Lease Rev. (Vista Charter Middle Sch. Proj.), Ser. 2014, 5.00%, due 7/1/24

1,186

Ñß

430

California Muni. Fin. Au. Charter Sch. Lease Rev. (Vista Charter Middle Sch. Proj.), Ser. 2014, 5.13%, due 7/1/29

420

Ñß

570

California Muni. Fin. Au. Rev. (Baptist Univ.), Ser. 2015-A, 5.00%, due 11/1/30

571

ñß

585

California Muni. Fin. Au. Rev. (Touro College & Univ. Sys. Obligated Group), Ser. 2014-A, 4.00%, due 1/1/26

609

ß

1,300

California Sch. Fac. Fin. Au. Rev. (Alliance College - Ready Pub. Sch. Proj.), Ser. 2015-A, 5.00%, due 7/1/30

1,377

ñß

1,685

California St. G.O., Ser. 2007, (XLCA Insured), 4.50%, due 8/1/27

1,765

5,000

California St. Poll. Ctrl. Fin. Au. Wtr. Furnishing Rev., Ser. 2012, 5.00%, due 7/1/27

5,489

ñß

1,500

California St. Pub. Works Board Lease Rev. (Dept. of Gen. Svcs. Cap East End), Ser. 2002-A, (AMBAC Insured), 5.25%, due 12/1/17

1,505

4,000

California St. Var. Purp. G.O., Ser. 2009, 5.63%, due 4/1/25

4,619

840

California Statewide CDA Rev. (California Baptist Univ. Proj.), Ser. 2007-A, 5.30%, due 11/1/18

880

ß

1,000

California Statewide CDA Spec. Tax Rev. Ref. (Comm. Facs. Dist. Number 2007-01 Orinda Wilder Proj.), Ser. 2015, 4.25%, due 9/1/21

1,055

2,000

Emery Unified Sch. Dist. G.O. (Election 2010), Ser. 2011-A, 6.50%, due 8/1/33

2,493

2,000

Imperial Comm. College Dist. G.O. Cap. Appreciation (Election 2010), Ser. 2011-A, (AGM Insured), 0.00%, due 8/1/40

2,439

h

1,950

Inglewood Pub. Fin. Au. Ref. Rev. (Lease), Ser. 2012, 5.00%, due 8/1/17

2,079

1,115

Inglewood Pub. Fin. Au. Ref. Rev. (Lease), Ser. 2012, 5.00%, due 8/1/18

1,211

590

La Verne Cert. of Participation Ref. (Brethren Hillcrest Homes), Ser. 2014, 5.00%, due 5/15/29

630

ß

3,620

Norwalk-La Mirada Unified Sch. Dist. G.O. Cap. Appreciation, Ser. 2005-B, (AGM Insured), 0.00%, due 8/1/24

2,690

5,750

Norwalk-La Mirada Unified Sch. Dist. G.O. Cap. Appreciation (Election 2002), Ser. 2009-E, (Assured Guaranty Insured), 0.00%, due 8/1/29

5,325

d

5,000

Redondo Beach Unified Sch. Dist. G.O., Ser. 2009, 0.00%, due 8/1/34

5,596

e

1,645

Rocklin Unified Sch. Dist. G.O. Cap. Appreciation, Ser. 1994-B, (National Public Finance Guarantee Corp. Insured), 0.00%, due 8/1/19

1,397

4,000

Sacramento City Fin. Au. Ref. Rev. (Master Lease Prog. Facs.), Ser. 2006-E, (AMBAC Insured), 5.25%, due 12/1/26

4,765

2,000

San Bernardino Comm. College Dist. G.O. Cap. Appreciation (Election), Ser. 2009-B, 0.00%, due 8/1/34

1,939

f

740

San Diego Redev. Agcy. Sub. Parking Rev. (Centre City Redev. Proj.), Ser. 2003-B, 5.00%, due 9/1/17

742

2,000

San Francisco City & Co. Arpt. Commission Int'l Arpt. Ref. Rev., Ser. 2009-C2, 5.00%, due 5/1/25

2,266

6,000

San Mateo Foster City Sch. Dist. G.O. Cap. Appreciation (Election 2008), Ser. 2010-A, 0.00%, due 8/1/32

4,956

g

1,540

Successor Agcy. to the Monrovia Redev. Agcy. Tax Allocation Rev. (Cent. Redev. Proj.), Ser. 2013, 5.00%, due 8/1/26

1,657

2,040

Sweetwater Union High Sch. Dist. Pub. Fin. Au. Rev., Ser. 2013, (BAM Insured), 5.00%, due 9/1/25

2,359

2,080

Vernon Elec. Sys. Rev., Ser. 2009-A, 5.13%, due 8/1/21

2,279

920

Vernon Elec. Sys. Rev., Ser. 2009-A, 5.13%, due 8/1/21 Pre-Refunded 8/1/19

1,019

9,070

Victor Valley Comm. College Dist. G.O. Cap. Appreciation (Election 2008), Ser. 2009-C, 0.00%, due 8/1/37

9,609

i

5,095

Victor Valley Joint Union High Sch. Dist. G.O. Cap. Appreciation Bonds, Ser. 2009, (Assured Guaranty Insured), 0.00%, due 8/1/26

3,431

3,000

Wiseburn Sch. Dist. G.O. Cap. Appreciation (Election 2010), Ser. 2011-B, (AGM Insured), 0.00%, due 8/1/36

2,037

j

89,391

Colorado (4.1%)

660

Colorado Ed. & Cultural Facs. Au. Rev. (Charter Sch.- Atlas Preparatory Sch. Proj.), Ser. 2015, 4.50%, due 4/1/25

641

ß

1,000

Colorado Ed. & Cultural Facs. Au. Rev. (Charter Sch.- Atlas Preparatory Sch. Proj.), Ser. 2015, 5.13%, due 4/1/35

953

ß

540

Colorado Ed. & Cultural Facs. Au. Rev. Ref., Ser. 2014, 4.00%, due 11/1/24

534

Ñß

750

Colorado Ed. & Cultural Facs. Au. Rev. Ref., Ser. 2014, 4.50%, due 11/1/29

734

Ñß

535

Colorado Ed. & Cultural Facs. Au. Rev. Ref. & Imp. (Charter Sch.- Univ. Lab Bldg. Corp.), Ser. 2015, 4.00%, due 12/15/25

525

ñß

560

Colorado Ed. & Cultural Facs. Au. Rev. Ref. & Imp. (Charter Sch.- Univ. Lab Bldg. Corp.), Ser. 2015, 5.00%, due 12/15/28

574

ñß

5,000

Denver City & Co. Arpt. Sys. Rev., Ser. 2011-B, 5.00%, due 11/15/24

5,651

ØØ

2,550

Plaza Metro. Dist. Number 1 Tax Allocation Rev., Ser. 2013, 4.00%, due 12/1/23

2,581

12,193

Connecticut (0.5%)

650

Hamden G.O., Ser. 2013, (AGM Insured), 3.00%, due 8/15/24

650

750

Hamden G.O., Ser. 2013, (AGM Insured), 3.13%, due 8/15/25

748

1,398

District of Columbia (2.8%)

1,615

Dist. of Columbia HFA Rev. (Capitol Hill Towers Proj.), Ser. 2011, (Fannie Mae Insured), 4.10%, due 12/1/26

1,716

ß

3,035

Dist. of Columbia Rev. (Friendship Pub. Charter Sch.), Ser. 2012, 3.55%, due 6/1/22

3,101

ß

1,000

Metro. Washington Dist. of Columbia Arpt. Au. Sys. Rev., Ser. 2008-A, 5.50%, due 10/1/18

1,126

2,000

Metro. Washington Dist. of Columbia Arpt. Au. Sys. Rev., Ser. 2011-C, 5.00%, due 10/1/26

2,280

8,223

Florida (5.1%)

1,000

Cityplace Comm. Dev. Dist. Spec. Assessment Rev. Ref., Ser. 2012, 5.00%, due 5/1/26

1,084

1,000

Florida Dev. Fin. Corp. Ed. Facs. Rev. (Renaissance Charter Sch., Inc.), Ser. 2012-A, 5.50%, due 6/15/22

984

ß

3,120

Florida Dev. Fin. Corp. Ed. Facs. Rev. (Renaissance Charter Sch., Inc.), Ser. 2013-A, 6.75%, due 12/15/27

3,337

ß

1,750

Florida Dev. Fin. Corp. Ed. Facs. Rev. (Renaissance Charter Sch., Inc.), Ser. 2014-A, 5.75%, due 6/15/29

1,732

ß

100

Greater Orlando Aviation Au. Arpt. Facs. Ref. Rev. (Jetblue Airways Corp. Proj.), Ser. 2013, 5.00%, due 11/15/36

102

ß

1,000

Hillsborough Co. Ind. Dev. Au. IDR (Hlth. Facs.), Ser. 2008-B, 8.00%, due 8/15/32 Pre-Refunded 8/15/19

1,272

ß

1,135

Lakeland Ed. Facs. Rev. Ref. (Florida So. College Proj.), Ser. 2012-A, 5.00%, due 9/1/27

1,244

ß

2,000

Lee Co. Arpt. Ref. Rev., Ser. 2011-A, 5.63%, due 10/1/25

2,351

2,000

Martin Co. Ind. Dev. Au. Ref. Rev. (Indiantown Cogeneration Proj.), Ser. 2013, 4.20%, due 12/15/25

2,024

ß

1,000

Village Comm. Dev. Dist. Number 11 Spec. Assessment Rev., Ser. 2014, 4.13%, due 5/1/29

990

15,120

Georgia (0.4%)

1,100

Greene Co. Dev. Au. Swr. Fac. Rev., Ser. 2015, 6.13%, due 1/1/25

1,100

#ßØ

Guam (1.7%)

1,220

Guam Gov't Hotel Occupancy Tax Rev., Ser. 2011-A, 5.75%, due 11/1/20

1,423

650

Guam Gov't Hotel Occupancy Tax Rev., Ser. 2011-A, 5.75%, due 11/1/21

758

2,630

Guam Gov't Waterworks Au. Wtr. & Wastewater Sys. Rev., Ser. 2010, 5.25%, due 7/1/25

2,901

5,082

Hawaii (2.6%)

5,200

Hawaii St. Arpt. Sys. Ref. Rev., Ser. 2011, 4.13%, due 7/1/24

5,590

ØØ

2,000

Hawaii St. Dept. of Budget & Fin. Spec. Purp. Rev. (Hawaii Elec. Co., Inc. -Subsidiary), Ser. 2009, 6.50%, due 7/1/39

2,284

ß

7,874

Illinois (17.7%)

1,870

Bartlett Sr. Lien Tax Increment Ref. Rev. (Quarry Redev. Proj.), Ser. 2007, 5.35%, due 1/1/17

1,902

5,705

Berwyn G.O., Ser. 2013-A, 5.00%, due 12/1/27

6,348

2,000

Chicago G.O., Ser. 2002-B, 5.00%, due 1/1/25

1,984

1,000

Chicago Ref. G.O., Ser. 2005-D, 5.50%, due 1/1/40

964

700

Chicago Ref. G.O., Ser. 2014-A, 5.00%, due 1/1/27

680

1,350

Cook Co. Sch. Dist. Number 83 G.O. (Mannheim), Ser. 2013-C, 5.45%, due 12/1/30

1,482

1,960

Cook Co. Sch. Dist. Number 83 G.O. (Mannheim), Ser. 2013-C, 5.50%, due 12/1/31

2,149

1,970

Cook Co. Township High Sch. Dist. Number 225 Northfield Township, Ser. 2008, 5.00%, due 12/1/25

2,189

1,875

Illinois Fin. Au. Ref. Rev. (Roosevelt Univ. Proj.), Ser. 2009, 5.00%, due 4/1/16

1,904

ß

4,000

Illinois Fin. Au. Ref. Rev. (Roosevelt Univ. Proj.), Ser. 2009, 5.75%, due 4/1/24

4,291

ß

5,840

Illinois Fin. Au. Rev. (Provena Hlth.), Ser. 2010-A, 6.25%, due 5/1/22

6,818

ß

1,670

Illinois Metro. Pier & Exposition Au. Dedicated St. Tax Ref. Rev., Ser. 1998-A, (FGIC Insured), 5.50%, due 6/15/17

1,817

1,905

Illinois Sports Facs. Au. Cap. Appreciation Rev. (St. Tax Supported), Ser. 2001, (AMBAC Insured), 0.00%, due 6/15/26

1,165

3,900

Illinois St. G.O., Ser. 2012, 4.00%, due 8/1/25

3,846

1,000

Illinois St. G.O., Ser. 2013, 5.00%, due 7/1/23

1,081

1,830

Pingree Grove Village Rev. (Cambridge Lakes Learning Ctr. Proj.), Ser. 2011, 8.00%, due 6/1/26

2,006

ß

945

So. Illinois Univ. Cert. of Participation (Cap. Imp. Proj.), Ser. 2014-A-1, (BAM Insured), 5.00%, due 2/15/27

1,022

1,375

So. Illinois Univ. Cert. of Participation (Cap. Imp. Proj.), Ser. 2014-A-1, (BAM Insured), 5.00%, due 2/15/28

1,476

715

So. Illinois Univ. Cert. of Participation (Cap. Imp. Proj.), Ser. 2014-A-1, (BAM Insured), 5.00%, due 2/15/29

762

2,725

Univ. of Illinois (Hlth. Svc. Facs. Sys.), Ser. 2013, 5.00%, due 10/1/27

3,021

ß

2,875

Univ. of Illinois (Hlth. Svc. Facs. Sys.), Ser. 2013, 5.75%, due 10/1/28

3,439

ß

1,850

Will Co. High Sch. Dist. Number 204 G.O. (Joliet Jr. College), Ser. 2011-A, 6.25%, due 1/1/31

2,242

52,588

Indiana (5.1%)

4,000

Indiana Bond Bank Rev. (Spec. Prog. Clark Mem. Hosp.), Ser. 2009-D, 5.50%, due 8/1/29

4,494

ß

500

Indiana Fin. Au. Midwestern Disaster Relief Rev. (Ohio Valley Elec. Corp. Proj.), Ser. 2012-A, 5.00%, due 6/1/32

529

ß

500

Indiana Fin. Au. Rev. (I-69 Dev. Partners LLC), Ser. 2014, 5.25%, due 9/1/25

571

ß

500

Indiana Fin. Au. Rev. (I-69 Dev. Partners LLC), Ser. 2014, 5.25%, due 9/1/26

566

ß

4,000

Indiana Hlth. & Ed. Fac. Fin. Au. Hosp. Ref. Rev. (Clarian Hlth. Oblig. Group), Ser. 2006-B, 5.00%, due 2/15/21

4,094

ß

3,055

Indiana Trans. Fin. Au. Hwy. Ref. Rev., Ser. 2004-B, (National Public Finance Guarantee Corp. Insured), 5.75%, due 12/1/21

3,752

1,000

Valparaiso Exempt Facs. Rev. (Pratt Paper LLC Proj.), Ser. 2013, 5.88%, due 1/1/24

1,138

ß

15,144

Iowa (3.1%)

5,110

Iowa Fin. Au. Rev. (St. Revolving Fund Prog.), Ser. 2008, 5.50%, due 8/1/22 Pre-Refunded 8/1/18

5,793

2,430

Iowa Std. Loan Liquidity Corp. Rev., Ser. 2011-A-1, 5.00%, due 12/1/21

2,569

700

Iowa Std. Loan Liquidity Corp. Rev., Ser. 2011-A-1, 5.30%, due 12/1/23

737

9,099

Kentucky (0.0%)

100

Ohio Co. PCR Ref. (Big Rivers Elec. Corp. Proj.), Ser. 2010-A, 6.00%, due 7/15/31

103

ß

Louisiana (1.5%)

1,500

Louisiana Local Gov't Env. Fac. & Comm. (Westlake Chemical Corp.), Ser. 2010-A2, 6.50%, due 11/1/35

1,777

ß

775

Louisiana Pub. Facs. Au. Rev. (Southwest Louisiana Charter Academy Foundation Proj.), Ser. 2013-A, 7.63%, due 12/15/28

880

ß

1,655

St. Charles Parish Gulf Zone Opportunity Rev. (Valero Energy Corp.), Ser. 2010, 4.00%, due 12/1/40 Putable 6/1/22

1,784

µß

4,441

Maine (0.8%)

2,400

Maine St. Fin. Au. Solid Waste Disp. Rev. (Casella Waste Sys., Inc.), Ser. 2005, 6.25%, due 1/1/25 Putable 2/1/17

2,487

ñµß

Maryland (0.8%)

100

Howard Co. Retirement Comm. Rev. Ref. (Vantage House Fac.), Ser. 2007-A, 5.25%, due 4/1/33

97

ß

2,400

Prince Georges Co. Hsg. Au. Multi-Family Rev. (Bristol Pines Apts. Proj.), Ser. 2005, (Fannie Mae Insured), 4.85%, due 12/15/38 Putable 12/15/23

2,443

µß

2,540

Massachusetts (7.0%)

200

Massachusetts St. Dev. Fin. Agcy. Rev. (Milford Reg. Med. Ctr.), Ser. 2014-F, 5.00%, due 7/15/24

216

ß

415

Massachusetts St. Dev. Fin. Agcy. Rev. (Milford Reg. Med. Ctr.), Ser. 2014-F, 5.00%, due 7/15/25

442

ß

200

Massachusetts St. Dev. Fin. Agcy. Rev. (Milford Reg. Med. Ctr.), Ser. 2014-F, 5.00%, due 7/15/26

212

ß

190

Massachusetts St. Dev. Fin. Agcy. Rev. (Milford Reg. Med. Ctr.), Ser. 2014-F, 5.00%, due 7/15/27

199

ß

150

Massachusetts St. Dev. Fin. Agcy. Rev. (Milford Reg. Med. Ctr.), Ser. 2014-F, 5.00%, due 7/15/28

156

ß

2,835

Massachusetts St. Ed. Fin. Au. Rev., Ser. 2011-J, 5.00%, due 7/1/23

3,132

3,990

Massachusetts St. Ed. Fin. Au. Rev., Ser. 2012-J, 4.70%, due 7/1/26

4,215

4,500

Massachusetts St. Ed. Fin. Au. Rev., Ser. 2013-K, 4.50%, due 7/1/24

4,779

5,000

Massachusetts St. HFA Hsg. Rev., Ser. 2010-C, 4.90%, due 12/1/25

5,303

2,095

Massachusetts St. Wtr. Poll. Abatement Trust Rev. (MWRA Prog.), Ser. 2002-A, 5.25%, due 8/1/19

2,103

20,757

Michigan (1.3%)

1,000

Jackson College Dormitories Hsg. Rev., Ser. 2015, 6.50%, due 5/1/35

993

500

Jackson College Dormitories Hsg. Rev., Ser. 2015, 6.75%, due 5/1/46

496

2,000

Summit Academy North Pub. Sch. Academy Ref. Rev., Ser. 2005, 5.25%, due 11/1/20

2,002

100

Summit Academy Pub. Sch. Academy Ref. Rev., Ser. 2005, 6.38%, due 11/1/35

100

150

Summit Academy Pub. Sch. Academy Ref. Rev., Ser. 2005, 6.00%, due 11/1/15

151

3,742

Minnesota (1.5%)

2,000

Maple Grove Hlth. Care Sys. Rev. (Maple Grove Hosp. Corp.), Ser. 2007, 5.00%, due 5/1/17

2,123

ß

2,250

Minneapolis & St. Paul Hsg. & Redev. Au. Hlth. Care Sys. (Children's Hlth. Care Facs.), Ser. 2010-A1, (AGM Insured), 4.50%, due 8/15/24

2,481

ß

4,604

Mississippi (1.4%)

3,665

Mississippi Bus. Fin. Corp. Gulf Opportunity Zone Rev., Ser. 2009-A, 4.70%, due 5/1/24

4,057

ß

Missouri (2.3%)

700

Bridgeton Ind. Dev. Au. Ref. Rev. (Hilltop Comm. Imp. Dist. Proj.), Ser. 2015-A, 4.25%, due 5/1/35

692

390

Missouri St. Env. Imp. & Energy Res. Au. Wtr. PCR (Unrefunded Bal. Drinking Wtr.), Ser. 2002-B, 5.50%, due 7/1/16

392

2,275

Missouri St. Hlth. & Ed. Facs. Au. Rev. (Children's Mercy Hosp.), Ser. 2009, 5.13%, due 5/15/24

2,548

ß

2,965

Missouri St. Univ. Auxiliary Enterprise Sys. Rev., Ser. 2007-A, (XLCA Insured), 5.00%, due 4/1/26 Pre-Refunded 4/1/17

3,181

6,813

Nevada (2.6%)

1,900

Director of the St. of Nevada Dept. of Bus. & Ind. Rev. (Somerset Academy), Ser. 2015-A, 4.00%, due 12/15/25

1,853

ñß

1,635

Las Vegas Redev. Agcy. Tax Increment Rev., Ser. 2009-A, 6.50%, due 6/15/17

1,741

3,545

Las Vegas Redev. Agcy. Tax Increment Rev., Ser. 2009-A, 7.50%, due 6/15/23

4,010

7,604

New Hampshire (0.5%)

1,500

New Hampshire St. Bus. Fin. Au. Solid Waste Disp. Rev. (Casella Waste Sys., Inc.), Ser. 2013, 4.00%, due 4/1/29 Putable 10/1/19

1,507

ñµß

New Jersey (5.5%)

2,500

New Jersey Econ. Dev. Au. Rev. (Continental Airlines, Inc., Proj.), Ser. 1999, 5.13%, due 9/15/23

2,691

ß

500

New Jersey Econ. Dev. Au. Rev. (The Goethals Bridge Replacement Proj.), Ser. 2013, 5.25%, due 1/1/25

568

ß

500

New Jersey Econ. Dev. Au. Rev. (The Goethals Bridge Replacement Proj.), Ser. 2013, 5.50%, due 1/1/26

574

ß

1,420

New Jersey Econ. Dev. Au. Rev. (United Methodist Homes of New Jersey Obligated Group), Ser. 2013, 3.50%, due 7/1/24

1,404

ß

1,470

New Jersey Econ. Dev. Au. Rev. (United Methodist Homes of New Jersey Obligated Group), Ser. 2013, 3.63%, due 7/1/25

1,448

ß

1,520

New Jersey Econ. Dev. Au. Rev. (United Methodist Homes of New Jersey Obligated Group), Ser. 2013, 3.75%, due 7/1/26

1,498

ß

765

New Jersey Econ. Dev. Au. Rev. (United Methodist Homes of New Jersey Obligated Group), Ser. 2013, 4.00%, due 7/1/27

763

ß

7,000

New Jersey Higher Ed. Assist. Au. Rev. (Std. Loan Rev.), Ser. 2012-1A, 4.38%, due 12/1/26

7,246

16,192

New Mexico (0.5%)

500

Winrock Town Ctr. Tax Increment Dev. Dist. Number 1 Tax Allocation Sr. Lien Rev. (Gross Receipts Tax Increment Bond), Ser. 2015, 5.25%, due 5/1/25

501

ñ#

1,000

Winrock Town Ctr. Tax Increment Dev. Dist. Number 1 Tax Allocation Sr. Lien Rev. (Gross Receipts Tax Increment Bond), Ser. 2015, 5.75%, due 5/1/30

1,002

ñ#

1,503

New York (11.7%)

1,100

Build NYC Res. Corp. Rev., Ser. 2014, 5.00%, due 11/1/24

1,187

ß

835

Build NYC Res. Corp. Rev., Ser. 2014, 5.25%, due 11/1/29

898

ß

1,140

Build NYC Res. Corp. Rev. (Int'l Leadership Charter Sch. Proj.), Ser. 2013, 5.00%, due 7/1/23

1,117

ß

500

Build NYC Res. Corp. Rev. (South Bronx Charter Sch. for Int'l Cultures and the Arts), Ser. 2013-A, 3.88%, due 4/15/23

490

ß

1,450

Build NYC Res. Corp. Rev. (South Bronx Charter Sch. for Int'l Cultures and the Arts), Ser. 2013-A, 5.00%, due 4/15/43

1,401

ß

1,000

Build NYC Res. Corp. Solid Waste Disp. Ref. Rev. (Pratt Paper, Inc. Proj.), Ser. 2014, 4.50%, due 1/1/25

1,067

ñß

700

Hempstead Town Local Dev. Corp. Rev. (Molloy College Proj.), Ser. 2014, 5.00%, due 7/1/23

780

ß

735

Hempstead Town Local Dev. Corp. Rev. (Molloy College Proj.), Ser. 2014, 5.00%, due 7/1/24

822

ß

1,400

Jefferson Co. IDA Solid Waste Disp. Rev. (Green Bond), Ser. 2014, 5.25%, due 1/1/24

1,387

ß

1,000

New York City IDA Civic Fac. Rev. (Vaughn College Aeronautics & Technology), Ser. 2006-A, 5.00%, due 12/1/28

1,029

ß

500

New York Liberty Dev. Corp. Ref. Rev. (3 World Trade Ctr. Proj.), Ser. 2014-2, 5.38%, due 11/15/40

523

ñß

1,100

New York Liberty Dev. Corp. Rev. (Nat'l Sports Museum Proj.), Ser. 2006-A, 6.13%, due 2/15/19

0

#‡

4,000

New York St. Dorm. Au. Rev. Non St. Supported Debt (Mount Sinai Sch. of Medicine), Ser. 2009, 5.25%, due 7/1/33

4,521

ß

3,200

New York St. Dorm. Au. Rev. Non St. Supported Debt (Univ. Facs.), Ser. 2013-A, 5.00%, due 7/1/28

3,721

2,000

New York St. HFA Rev. (Affordable Hsg.), Ser. 2009-B, 4.85%, due 11/1/41

2,076

2,000

New York St. Mtge. Agcy. Homeowner Mtge. Ref. Rev., Ser. 2014-189, 3.45%, due 4/1/27

1,991

2,000

New York St. Urban Dev. Corp. Rev., Ser. 2008-D, 5.25%, due 1/1/20

2,270

710

Newburgh G.O., Ser. 2012-A, 5.00%, due 6/15/20

785

495

Newburgh G.O. (Deficit Liquidation), Ser. 2012-B, 5.00%, due 6/15/20

547

520

Newburgh G.O. (Deficit Liquidation), Ser. 2012-B, 5.00%, due 6/15/21

577

550

Newburgh G.O. (Deficit Liquidation), Ser. 2012-B, 5.00%, due 6/15/22

610

1,435

Niagara Area Dev. Corp. Rev. (Niagara Univ. Proj.), Ser. 2012-A, 5.00%, due 5/1/23

1,602

ß

1,000

Niagara Area Dev. Corp. Solid Waste Disp. Fac. Rev. (Covanta Energy Proj.), Ser. 2012-B, 4.00%, due 11/1/24

1,007

ñß

1,155

Suffolk Co. Judicial Facs. Agcy. Lease Rev. (H. Lee Dennison Bldg.), Ser. 2013, 4.25%, due 11/1/26

1,202

2,000

Utility Debt Securitization Au. Rev., Ser. 2013-TE, 5.00%, due 12/15/28

2,372

600

Westchester Co. Local Dev. Corp. Rev. Ref. (Wartburg Sr. Hsg. Proj.), Ser. 2015-A, 5.00%, due 6/1/30

601

ñß

34,583

North Carolina (3.7%)

1,835

North Carolina Med. Care Commission Hlth. Care Facs. Rev. (Lutheran Svc. For Aging, Inc.), Ser. 2012-A, 4.25%, due 3/1/24

1,872

ß

2,000

North Carolina Med. Care Commission Retirement Facs. Rev., Ser. 2013, 5.13%, due 7/1/23

2,115

ß

5,250

North Carolina Muni. Pwr. Agcy. Number 1 Catawba Elec. Rev., Ser. 2009-A, 5.00%, due 1/1/26

5,814

1,000

Oak Island Enterprise Sys. Rev., Ser. 2009, (Assured Guaranty Insured), 5.63%, due 6/1/24 Pre-Refunded 6/1/19

1,167

10,968

Ohio (1.4%)

2,060

Cleveland Arpt. Sys. Rev. Ref., Ser. 2012-A, 5.00%, due 1/1/27

2,253

ØØ

1,000

Ohio St. Wtr. Dev. Au. Poll Ctrl. Facs. Rev. Ref. (First Energy Nuclear Generation Proj.), Ser. 2006-B, 4.00%, due 12/1/33 Putable 6/3/19

1,032

µß

1,000

Ohio St. Wtr. Dev. Au. Poll Ctrl. Facs. Rev. Ref. (First Energy Nuclear Generation Proj.), Ser. 2008-C, 3.95%, due 11/1/32 Putable 5/1/20

1,006

µß

4,291

Oklahoma (0.8%)

655

Tulsa Arpt. Imp. Trust Ref. Rev., Ser. 2015-A, (BAM Insured), 5.00%, due 6/1/21

736

700

Tulsa Arpt. Imp. Trust Ref. Rev., Ser. 2015-A, (BAM Insured), 5.00%, due 6/1/23

790

250

Tulsa Arpt. Imp. Trust Ref. Rev., Ser. 2015-A, (BAM Insured), 5.00%, due 6/1/24

282

400

Tulsa Arpt. Imp. Trust Ref. Rev., Ser. 2015-A, (BAM Insured), 5.00%, due 6/1/25

448

2,256

Oregon (0.2%)

480

Oregon St. Hsg. & Comm. Svc. Dept. Multi-Family Rev., Ser. 2012-B, (FHA Insured), 3.50%, due 7/1/27

481

Pennsylvania (8.2%)

3,000

Beaver Co. Ind. Dev. Au. Rev. Ref. (Firstenergy Generation LLC), Ser. 2006-A, 3.50%, due 4/1/41 Putable 6/1/20

3,018

µß

500

Indiana Co. Ind. Dev. Au. Rev. (Std. Cooperative Assoc., Inc.), Ser. 2012, 3.50%, due 5/1/25

498

ß

350

Indiana Co. Ind. Dev. Au. Rev. (Std. Cooperative Assoc., Inc.), Ser. 2012, 3.60%, due 5/1/26

350

ß

2,000

Lancaster Co. Hosp. Au. Rev. (Brethren Village Proj.), Ser. 2008-A, 6.10%, due 7/1/22

2,093

ß

1,250

Lancaster Ind. Dev. Au. Rev. (Garden Spot Village Proj.), Ser. 2013, 5.38%, due 5/1/28

1,350

ß

1,105

Moon Ind. Dev. Au. Rev. Ref. (Baptist Homes Society Obligated Group), Ser. 2015, 5.63%, due 7/1/30

1,085

ß

3,430

Norristown Area Sch. Dist. Cert. of Participation (Installment Purchase), Ser. 2012, 4.50%, due 4/1/27

3,558

2,625

Pennsylvania Econ. Dev. Fin. Au. Exempt Facs. Rev. Ref. (Amtrak Proj.), Ser. 2012-A, 5.00%, due 11/1/24

2,942

ß

1,000

Pennsylvania St. Turnpike Commission Turnpike Rev. (Cap. Appreciation), Subser. 2010-B2, 0.00%, due 12/1/34

1,087

b

895

Philadelphia Au. For Ind. Dev. Rev. (Discovery Charter Sch. Proj.), Ser. 2012, 5.00%, due 4/1/22

913

ß

415

Philadelphia Au. For Ind. Dev. Rev. (Discovery Charter Sch. Proj.), Ser. 2012, 5.50%, due 4/1/27

423

ß

4,480

Reading G.O., Ser. 2010-C, 5.63%, due 11/15/20

4,687

2,000

Susquehanna Area Reg. Arpt. Au. Sys. Rev., Ser. 2012-A, 5.00%, due 1/1/27

2,180

24,184

Puerto Rico (0.7%)

2,020

Puerto Rico Commonwealth Ref. G.O. (Pub. Imp.), Ser. 2001-A, (National Public Finance Guarantee Corp. Insured), 5.50%, due 7/1/20

2,007

Rhode Island (1.7%)

1,000

Rhode Island St. Hlth. & Ed. Bldg. Corp. Rev. (Hosp. Fin. - Care New England Hlth. Sys.), Ser. 2013-A, 5.00%, due 9/1/23

1,077

ß

2,650

Rhode Island St. Std. Loan Au. Std. Loan Rev. (Sr. Prog.), Ser. 2013-A, 3.75%, due 12/1/26

2,534

1,445

Rhode Island St. Std. Loan Au. Std. Loan Rev. (Sr. Prog.), Ser. 2013-A, 3.75%, due 12/1/27

1,384

ØØ

4,995

Tennessee (1.8%)

2,705

Memphis-Shelby Co. Arpt. Au. Arpt. Rev., Ser. 2010-B, 5.50%, due 7/1/19

3,076

2,000

Tennessee St. Energy Acquisition Corp. Gas Rev. (Goldman Sachs Group, Inc.), Ser. 2006-A, 5.25%, due 9/1/23

2,297

5,373

Texas (6.6%)

500

Arlington Higher Ed. Fin. Corp. Rev. (Universal Academy), Ser. 2014-A, 5.88%, due 3/1/24

514

ß

1,000

Arlington Higher Ed. Fin. Corp. Rev. (Universal Academy), Ser. 2014-A, 6.63%, due 3/1/29

1,033

ß

1,050

Clifton Higher Ed. Fin. Corp. Rev. (Uplift Ed.), Ser. 2013-A, 3.10%, due 12/1/22

1,024

ß

2,000

Fort Bend Co. Ind. Dev. Corp. Rev. (NRG Energy, Inc.), Ser. 2012-B, 4.75%, due 11/1/42

2,057

ß

500

Gulf Coast Ind. Dev. Au. Rev. (CITGO Petroleum Proj.), Ser. 1995, 4.88%, due 5/1/25

520

ß

1,000

Harris Co. Cultural Ed. Facs. Fin. Corp. Rev. (Brazos Presbyterian Homes, Inc. Proj.), Ser. 2013-B, 5.75%, due 1/1/28

1,104

ß

2,900

Harris Co. Toll Road Sr. Lien Rev., Ser. 2008-B, 5.00%, due 8/15/33

3,196

610

HFDC Ctr. Texas, Inc. Retirement Fac. Rev., Ser. 2006-A, 5.25%, due 11/1/15

612

ß

525

Houston Higher Ed. Fin. Corp. Rev. (Cosmos Foundation), Ser. 2012-A, 4.00%, due 2/15/22

549

ß

1,000

Houston Higher Ed. Fin. Corp. Rev. (Cosmos Foundation), Ser. 2012-A, 5.00%, due 2/15/32

1,085

ß

1,000

Houston Pub. Imp. Ref. G.O., Ser. 2008-A, 5.00%, due 3/1/20

1,099

3,000

North Texas Tollway Au. Dallas North Tollway Sys. Rev., Ser. 2005-C, 6.00%, due 1/1/23

3,439

500

San Leanna Ed. Fac. Corp. Higher Ed. Ref. Rev. (St. Edwards Univ. Proj.), Ser. 2007, 5.00%, due 6/1/19

532

ß

1,500

Texas Pub. Fin. Au. Rev. (So. Univ. Fin. Sys.), Ser. 2013, (BAM Insured), 5.00%, due 11/1/21

1,675

1,175

West Harris Co. Reg. Wtr. Au. Sys. Wtr. Rev., Ser. 2009, 5.00%, due 12/15/35

1,290

19,729

Utah (1.8%)

3,000

Salt Lake Co. Hosp. Rev. (IHC Hlth. Svc., Inc.), Ser. 2001, (AMBAC Insured), 5.40%, due 2/15/28

3,426

ß

1,200

Uintah Co. Muni. Bldg. Au. Lease Rev., Ser. 2008, 5.25%, due 6/1/20

1,325

185

Utah Hsg. Corp. Single Family Mtge. Rev., Ser. 2011-A2, Class I, 5.00%, due 7/1/20

189

170

Utah Hsg. Corp. Single Family Mtge. Rev., Ser. 2011-A2, Class I, 5.25%, due 7/1/21

174

245

Utah Hsg. Corp. Single Family Mtge. Rev., Ser. 2011-A2, Class I, 5.45%, due 7/1/22

250

5,364

Vermont (3.2%)

1,600

Vermont Std. Assist. Corp. Ed. Loan Rev., Ser. 2012-A, 5.00%, due 6/15/21

1,797

465

Vermont Std. Assist. Corp. Ed. Loan Rev., Ser. 2013-A, 4.25%, due 6/15/24

489

1,105

Vermont Std. Assist. Corp. Ed. Loan Rev., Ser. 2013-A, 4.35%, due 6/15/25

1,150

1,640

Vermont Std. Assist. Corp. Ed. Loan Rev., Ser. 2013-A, 4.45%, due 6/15/26

1,690

535

Vermont Std. Assist. Corp. Ed. Loan Rev., Ser. 2013-A, 4.55%, due 6/15/27

550

1,800

Vermont Std. Assist. Corp. Ed. Loan Rev., Ser. 2014-A, 5.00%, due 6/15/24

2,048

1,700

Vermont Std. Assist. Corp. Ed. Loan Rev., Ser. 2015-A, 4.13%, due 6/15/27

1,720

9,444

Virginia (0.7%)

1,000

Fairfax Co. Econ. Dev. Au. Residential Care Fac. Rev. (Vinson Hall LLC), Ser. 2013-A, 4.00%, due 12/1/22

1,021

ß

1,000

Virginia Beach Dev. Au. Residential Care Fac. Mtge. Ref. Rev. (Westminster-Canterbury of Hampton Roads, Inc.), Ser. 2005, 5.00%, due 11/1/22

1,005

ß

2,026

Washington (3.8%)

1,600

Skagit Co. Pub. Hosp. Dist. Number 1 Ref. Rev., Ser. 2007, 5.63%, due 12/1/25

1,734

6,700

Vancouver Downtown Redev. Au. Rev. (Conference Ctr. Proj.), Ser. 2013, 4.00%, due 1/1/28

6,869

2,525

Washington St. Higher Ed. Fac. Au. Ref. Rev. (Whitworth Univ. Proj.), Ser. 2009, 5.38%, due 10/1/29

2,767

ß

11,370

West Virginia (0.4%)

1,000

West Virginia Sch. Bldg. Au. Excess Lottery Rev., Ser. 2008, 5.00%, due 7/1/19

1,105

Wisconsin (4.9%)

870

Pub. Fin. Au. Ed. Rev. (Pine Lake Preparatory, Inc.), Ser. 2015, 4.95%, due 3/1/30

870

ñß

2,000

Pub. Fin. Au. Rev. Ref. (Roseman Univ. Hlth. Sciences Proj.), Ser. 2015, 5.00%, due 4/1/25

1,977

ß

1,100

Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Beloit College), Ser. 2010-A, 6.13%, due 6/1/35

1,229

ß

1,225

Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Beloit College), Ser. 2010-A, 6.13%, due 6/1/39

1,362

ß

1,340

Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Marquette Univ.), Ser. 2008-B3, 5.00%, due 10/1/30 Pre-Refunded 12/23/19

1,552

ß

3,660

Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Marquette Univ.), Ser. 2008-B3, 5.00%, due 10/1/30

4,012

ß

3,000

Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Meriter Hosp., Inc.), Ser. 2009, 5.63%, due 12/1/29 Pre-Refunded 12/1/18

3,444

ß

14,446

Other (0.8%)

3,000

Non-Profit Pfd. Fdg. Trust I, Ser. 2006-C, 4.72%, due 9/15/37

2,402

#

Total Municipal Notes (Cost $432,284)

469,867

Tax Exempt Preferred (0.6%)

Real Estate (0.6%)

1,800

Munimae TE Bond Subsidiary LLC, Unsecured Notes, 5.00%, due 4/30/28  (Cost  $1,800)

1,953

#

Total Investments (159.2%) (Cost $434,084)

471,820

##

Cash, receivables and other assets, less liabilities (1.3%)

3,901

Liquidation Value of Variable Rate Municipal Term Preferred Shares [(60.5%)]

(179,400)

Total Net Assets Applicable to Common Stockholders (100.0%)

$296,321

†

In accordance with Accounting Standards Codification (“ASC”) 820 “Fair Value Measurement” (“ASC 820”), all investments held by each of Neuberger Berman California Intermediate Municipal Fund Inc. (“California”), Neuberger Berman Intermediate Municipal Fund Inc. (“Intermediate”) and Neuberger Berman New York Intermediate Municipal Fund Inc. (“New York”) (each individually a “Fund” and collectively, the “Funds”) are carried at the value that Neuberger Berman Management LLC (“Management”) believes a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment under current market conditions. Various inputs, including the volume and level of activity for the asset or liability in the market, are considered in valuing the Funds’ investments, some of which are discussed below. Significant Management judgment may be necessary to value investments in accordance with ASC 820.

ASC 820 established a three-tier hierarchy of inputs to create a classification of value measurements for disclosure purposes. The three-tier hierarchy of inputs is summarized in the three broad Levels listed below.

·

Level 1 – quoted prices in active markets for identical investments

·

Level 2 – other observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, amortized cost, etc.)

·

Level 3 – unobservable inputs (including a Fund’s own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing an investment are not necessarily an indication of the risk associated with investing in those securities.

The value of the Funds’ investments in municipal securities is determined by Management primarily by obtaining valuations from independent pricing services based on readily available bid quotations, or if quotations are not available, by methods which include various considerations such as yields or prices of securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions (generally Level 2 inputs). Other Level 2 and 3 inputs used by independent pricing services to value municipal securities and units include current trades, bid-wanted lists (which informs the market that a holder is interested in selling a position and that offers will be considered), offerings, general information on market movement, direction, trends, appraisals, bid offers and specific data on specialty issues.

Management has developed a process to periodically review information provided by independent pricing services for all types of securities.

If a valuation is not available from an independent pricing service, or if Management has reason to believe that the valuation received does not represent the amount a Fund might reasonably expect to receive on a current sale in an orderly transaction, Management seeks to obtain quotations from brokers or dealers (generally considered Level 2 or Level 3 inputs depending on the number of quotes available). If such quotations are not readily available, the security is valued using methods the Fund’s Board of Directors (each Fund’s Board of Directors, a “Board”) has approved in the good-faith belief that the resulting valuation will reflect the fair value of the security. Numerous factors may be considered when determining the fair value of a security based on Level 2 or Level 3 inputs, including available analyst, media or other reports, trading in futures or American Depositary Receipts (“ADRs”) and whether the issuer of the security being fair valued has other securities outstanding.

Fair value prices are necessarily estimates, and there is no assurance that such a price will be at or close to the price at which the security is next quoted or next trades.

 

The following is a summary, categorized by Level, of inputs used to value the Funds’ investments as of July 31, 2015:

Asset Valuation Inputs

(000’s omitted)

Level 1

Level 2

Total

California

Investments:

Municipal Notes^

$

—

$

141,877

$

—

$

141,877

Total Investments

—

141,877

—

141,877

Intermediate

Investments:

Municipal Notes^

—

469,867

—

469,867

Tax Exempt Preferred^

—

1,953

—

1,953

Total Investments

—

471,820

—

471,820

New York

^

The Schedule of Investments provides information on the state categorization for the portfolio.

§

The following is a reconciliation between the beginning and ending balances of investments in which significant unobservable inputs (Level 3) were used in determining value:

Beginning balance, as of 11/1/14

Accrued discounts/(premiums)

Realized gain/(loss)

Change in unrealized appreciation/ (depreciation)

Purchases

Sales

Transfers in to Level 3

Transfers out of Level 3

Balance as of7/31/15

Net change in unrealized appreciation/(depreciation) from investments still held as of 7/31/15

(000’s omitted)

Investments in SecuritiesNew York

Units

Liquidating Trust—Real Estate

$1,830

$—

$—

$—

$—

$—

$—

$(1,830

)

$—

$—

Total

$1,830

$—

$—

$—

$—

$—

$—

$(1,830

)

$—

$—

As of the period ended July 31, 2015, a security was transferred from one level (as of October 31, 2014) to another. Based on beginning of period market values as of November 1, 2014, approximately $1,830,000 was transferred from Level 3 to Level 2 for New York as a result of an increase in the number of observable inputs that were readily available to the independent pricing service.

##

At July 31, 2015, selected fund information on a U.S. federal income tax basis was as follows:

(000’s omitted)

Cost

Gross Unrealized Appreciation

Gross Unrealized Depreciation

Net UnrealizedAppreciation(Depreciation)

California

$133,783

$8,374

$280

$8,094

Intermediate

434,098

40,695

2,973

37,722

New York

116,051

6,028

2,355

3,673

ß

Security is guaranteed by the corporate or non-profit obligor.

ñ

Securities were purchased under Rule 144A of the Securities Act of 1933, as amended (the “1933 Act”), or are private placements and, unless registered under the 1933 Act or exempted from registration, may only be sold to qualified institutional investors. These securities have been deemed by the investment manager to be liquid. At July 31, 2015, these securities amounted to approximately $4,489,000 or 5.3% of net assets applicable to common stockholders for California, approximately $23,524,000 or 7.9% of net assets applicable to common stockholders for Intermediate, and approximately $2,877,000 or 4.0% of net assets applicable to common stockholders for New York.

Ø

All or a portion of this security was purchased on a when-issued basis. At July 31, 2015, these securities amounted to approximately $600,000 or 0.7% of net assets applicable to common stockholders for California, approximately $1,100,000 or 0.4% of net assets applicable to common stockholders for Intermediate, and approximately $500,000 or 0.7% of net assets applicable to common stockholders for New York.

ØØ

All or a portion of this security is segregated in connection with obligations for when-issued security purchase commitments.

µ

Floating rate securities are securities whose yields vary with a designated market index or market rate. These securities are shown at their current rates as of July 31, 2015, and at their final maturities.

b

Currently a zero coupon security; will convert to 6.00% on December 1, 2015.

c

Currently a zero coupon security; will convert to 6.50% on December 1, 2015.

d

Currently a zero coupon security; will convert to 5.5% on August 1, 2021.

e

Currently a zero coupon security; will convert to 6.38% on August 1, 2016.

f

Currently a zero coupon security; will convert to 6.38% on August 1, 2019.

g

Currently a zero coupon security; will convert to 6.13% on August 1, 2023.

h

Currently a zero coupon security; will convert to 6.75% on August 1, 2015.

i

Currently a zero coupon security; will convert to 6.88% on August 1, 2019.

j

Currently a zero coupon security; will convert to 7.30% on August 1, 2026.

z

A zero balance, if any, may reflect actual amounts rounding to less than $1,000.

*

Security did not produce income during the last twelve months.

^^

Value of the security was determined using methods the Board has approved in the good-faith belief that the resulting valuation will reflect the fair value of the security.

‡

Security had an event of default.

Ñ

These securities have been deemed by the investment manager to be illiquid. At July 31, 2015, these securities amounted to approximately $489,000 or 0.6% of net assets applicable to common stockholders for California and approximately $2,874,000 or 1.0% of net assets applicable to common stockholders for Intermediate.

#

These securities have been deemed by the investment manager to be illiquid, and are restricted securities subject to restrictions on resale. Securities were purchased under Rule 144A of the 1933 Act or are private placements and, unless registered under the 1933 Act or exempted from registration, may only be sold to qualified institutional investors.

At July 31, 2015, these securities amounted to approximately $1,589,000 or 1.9% of net assets applicable to common stockholders for California, approximately $8,398,000 or 2.9% of net assets applicable to common stockholders for Intermediate and approximately $2,150,000 or 3.0% of net assets applicable to common stockholders for New York.

(000’s omitted)

Restricted Security

Acquisition Date

Acquisition Cost

Acquisition Cost Percentage of Net Assets Applicable to Common Stockholders as of Acquisition Date

Value as of 7/31/15

Fair Value Percentage of Net Assets Applicable to Common Stockholders as of 7/31/15

California

California Muni. Fin. Au.Charter Sch. Lease Rev.(Sycamore Academy Proj.),Ser. 2014, 5.63%, due7/1/44

9/18/2014

$982

1.2%

$989

1.2%

Greene Co. Dev. Au. Swr. Fac. Rev., Ser. 2015, 6.13%, due 1/1/25

7/31/2015

600

0.7%

600

0.7%

Intermediate

California Muni. Fin. Au.Charter Sch. Lease Rev.(Sycamore Academy Proj.),Ser. 2014, 5.00%, due7/1/24

9/18/2014

806

0.3%

809

0.3%

California Muni. Fin. Au.Charter Sch. Lease Rev.(Sycamore Academy Proj.),Ser. 2014, 5.13%, due7/1/29

9/18/2014

623

0.2%

631

0.2%

Greene Co. Dev. Au. Swr. Fac. Rev., Ser. 2015, 6.13%, due 1/1/25

7/31/2015

1,100

0.4%

1,100

0.4%

Munimae TE Bond Subsidiary LLC, Unsecured Notes, 5.00%, due 4/30/28

1/31/2013

1,800

0.6%

1,953

0.7%

New York Liberty Dev. Corp. Rev. (Nat’l Sports Museum Proj.), Ser. 2006-A, 6.13%,due 2/15/19

8/4/2006

1,100

0.4%

0

0.0%

Non-Profit Pfd. Fdg. Trust I, Ser. 2006-C, 4.72%, due 9/15/37

10/2/2006

3,000

1.0%

2,402

0.8%

Winrock Town Ctr. Tax Increment Dev. Dist. Number 1 Tax Allocation Sr. Lien Rev. (Gross Receipts Tax Increment Bond), Ser. 2015, 5.25%, due 5/1/25

6/30/2015

500

0.2%

501

0.2%

Winrock Town Ctr. Tax Increment Dev. Dist. Number 1 Tax Allocation Sr. Lien Rev. (Gross Receipts Tax Increment Bond), Ser. 2015, 5.75%, due 5/1/30

6/30/2015

1,000

0.4%

1,002

0.3%

New York

CMS Liquidating Trust

11/21/2012

3,105

4.0%

1,650

2.3%

Greene Co. Dev. Au. Swr. Fac. Rev., Ser. 2015, 6.13%, due 1/1/25

7/31/2015

500

0.7%

500

0.7%

New York Liberty Dev. Corp. Rev. (Nat’l Sports Museum Proj.), Ser. 2006-A, 6.13%,due 2/15/19

8/4/2006

660

0.9%

0

0.0%