nq2.htm
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
 
Investment Company Act file number 811-22779
 
Nuveen Intermediate Duration Quality Municipal Term Fund
(Exact name of registrant as specified in charter)
 
Nuveen Investments
        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)
 

Kevin J. McCarthy
Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)
 
Registrant's telephone number, including area code:         312-917-7700        
 
Date of fiscal year end:            5/31          
 
Date of reporting period:         8/31/15         
 
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
 
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 
 
 
 
 
Item 1. Schedule of Investments
 
 
   
Portfolio of Investments
      
 
   
Nuveen Intermediate Duration Quality Municipal Term Fund (NIQ)
      
   
August 31, 2015 (Unaudited)
      
 
 
Principal
    
Optional Call
    
Amount (000)
  
Description (1)
Provisions (2)
Ratings (3)
Value
   
LONG-TERM INVESTMENTS – 128.8% (100.0% of Total Investments)
      
 
   
MUNICIPAL BONDS – 128.8% (100.0% of Total Investments)
      
 
   
Alabama – 3.3% (2.5% of Total Investments)
      
$ 2,000
  
Alabama Federal Aid Highway Finance Authority, Federal Highway Grant Anticipation Revenue
9/22 at 100.00
AA
$ 3,330,800
   
Bonds, Tender Option Bond Trust 2013-2W, 22.413%, 9/01/26 (IF) (4)
      
2,500
  
Jefferson County, Alabama, General Obligation Refunding Warrants, Series 2003A, 5.000%,
11/15 at 100.00
AA–
2,500,774
   
4/01/22 – NPFG Insured
      
4,500
  
Total Alabama
    
5,831,574
   
Arizona – 3.3% (2.6% of Total Investments)
      
455
  
Arizona Health Facilities Authority, Health Care Facilities Revenue Bonds, The Beatitudes
10/16 at 100.00
N/R
457,898
   
Campus Project, Series 2006, 5.100%, 10/01/22
      
   
Arizona Health Facilities Authority, Hospital Revenue Bonds, Phoenix Children’s Hospital,
      
   
Series 2013D:
      
965
  
5.000%, 2/01/24
2/23 at 100.00
BBB+
1,105,446
1,065
  
5.000%, 2/01/26
2/23 at 100.00
BBB+
1,196,496
1,945
  
Downtown Phoenix Hotel Corporation, Arizona, Senior Revenue Bonds, Series 2005A, 5.250%,
1/16 at 100.00
Ba1 (5)
1,977,015
   
7/01/26 (Pre-refunded 1/01/16) – FGIC Insured
      
1,000
  
University Medical Center Corporation, Tucson, Arizona, Hospital Revenue Bonds, Series 2011,
No Opt. Call
N/R (5)
1,143,750
   
5.000%, 7/01/19 (ETM)
      
5,430
  
Total Arizona
    
5,880,605
   
California – 13.9% (10.8% of Total Investments)
      
3,000
  
Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Senior Lien
10/23 at 100.00
AA
3,529,560
   
Series 2013A, 5.000%, 10/01/27 – AGM Insured
      
   
California Municipal Finance Authority, Revenue Bonds, Biola University, Series 2013:
      
560
  
5.000%, 10/01/19
No Opt. Call
Baa1
623,913
415
  
5.000%, 10/01/21
No Opt. Call
Baa1
470,697
1,930
  
California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda
12/24 at 100.00
BB+
2,051,164
   
University Medical Center, Series 2014A, 5.250%, 12/01/34
      
3,000
  
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
6/17 at 100.00
B
2,550,330
   
Bonds, Series 2007A-1, 5.000%, 6/01/33
      
   
Hesperia Public Financing Authority, California, Redevelopment and Housing Projects Tax
      
   
Allocation Bonds, Series 2007A:
      
915
  
5.500%, 9/01/17 – SYNCORA GTY Insured
No Opt. Call
N/R
957,383
660
  
5.500%, 9/01/27 – SYNCORA GTY Insured
No Opt. Call
N/R
679,701
1,265
  
Independent Cities Finance Authority, California, Mobile Home Park Revenue Bonds, Rancho
No Opt. Call
A–
1,394,296
   
Vallecitos Mobile Home Park, Series 2013, 4.500%, 4/15/23
      
   
Inland Empire Tobacco Securitization Authority, California, Tobacco Settlement Asset-Backed
      
   
Bonds, Series 2007:
      
1,345
  
5.000%, 6/01/21
6/17 at 100.00
B–
1,334,375
1,075
  
4.625%, 6/01/21
6/17 at 100.00
B–
1,054,575
   
Jurupa Community Services District, California, Special Tax Bonds, Community Facilities
      
   
District 31 Eastvale Area, Series 2013:
      
150
  
4.000%, 9/01/25
9/22 at 100.00
N/R
157,280
305
  
4.000%, 9/01/26
9/22 at 100.00
N/R
318,441
250
  
4.000%, 9/01/27
9/22 at 100.00
N/R
259,853
760
  
Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010,
11/20 at 100.00
Ba1
820,838
   
5.250%, 11/01/21
      
1,805
  
Patterson Public Financing Authority, California, Revenue Bonds, Community Facilities District
No Opt. Call
N/R
1,982,358
   
2001-1, Senior Series 2013A, 5.000%, 9/01/22
      
185
  
Riverside County Redevelopment Agency, California, Tax Allocation Housing Bonds, Series 2011A,
No Opt. Call
A
164,249
   
0.000%, 10/01/26
      
200
  
San Bernardino County Financing Authority, California, Revenue Bonds, Courthouse Facilities
No Opt. Call
N/R
203,010
   
Project, Series 2007, 5.100%, 6/01/17
      
   
San Diego, California, Community Facilities District 3 Liberty Station Special Tax Refunding
      
   
Bonds Series 2013:
      
395
  
5.000%, 9/01/15
No Opt. Call
N/R
395,000
340
  
5.000%, 9/01/17
No Opt. Call
N/R
363,406
1,080
  
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment
11/15 at 100.00
AA–
1,084,309
   
Project, Series 2005A, 5.000%, 8/01/17 – NPFG Insured
      
955
  
Vernon, California, Electric System Revenue Bonds, Series 2009A, 5.125%, 8/01/21
8/19 at 100.00
N/R (5)
1,062,332
   
(Pre-refunded 8/01/19)
      
2,160
  
Vernon, California, Electric System Revenue Bonds, Series 2009A, 5.125%, 8/01/21
8/19 at 100.00
A–
2,381,443
925
  
Washington Township Health Care District, California, Revenue Bonds, Series 2009A,
7/19 at 100.00
Baa1
1,045,139
   
6.000%, 7/01/29
      
23,675
  
Total California
    
24,883,652
   
Colorado – 3.7% (2.9% of Total Investments)
      
   
Colorado Educational and Cultural Facilities Authority, Charter School Refunding Revenue
      
   
Bonds, Pinnacle Charter School, Inc. K-8 Facility Project, Series 2013:
      
280
  
4.000%, 6/01/18
No Opt. Call
A
296,579
310
  
4.000%, 6/01/20
No Opt. Call
A
334,013
200
  
5.000%, 6/01/21
No Opt. Call
A
226,946
   
Colorado State Board of Governors, Colorado State University Auxiliary Enterprise System
      
   
Revenue Bonds, Tender Option Bond Trust 3316:
      
100
  
22.558%, 9/01/22 (IF) (4)
No Opt. Call
Aa2
206,395
300
  
22.558%, 3/01/23 (IF) (4)
No Opt. Call
Aa2
627,195
430
  
22.506%, 3/01/24 (IF) (4)
No Opt. Call
Aa2
907,859
725
  
22.558%, 3/01/25 (IF) (4)
No Opt. Call
Aa2
1,502,164
200
  
22.558%, 9/01/25 (IF) (4)
No Opt. Call
Aa2
402,160
200
  
Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel,
11/16 at 100.00
BBB–
203,216
   
Senior Lien Series 2006, 4.500%, 12/01/25 – SYNCORA GTY Insured
      
350
  
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B, 0.000%,
No Opt. Call
AA–
306,726
   
9/01/21 – NPFG Insured
      
1,535
  
Lincoln Park Metropolitan District, Douglas County, Colorado, General Obligation Refunding and
12/17 at 100.00
N/R (5)
1,694,885
   
Improvement Bonds, Series 2008, 5.625%, 12/01/20 (Pre-refunded 12/01/17)
      
4,630
  
Total Colorado
    
6,708,138
   
Florida – 9.2% (7.1% of Total Investments)
      
   
Atlantic Beach, Florida, Healthcare Facilities Revenue Refunding Bonds, Fleet Landing Project,
      
   
Series 2013A:
      
420
  
5.000%, 11/15/20
No Opt. Call
BBB
464,617
150
  
5.000%, 11/15/23
No Opt. Call
BBB
166,331
515
  
Belmont Community Development District, Florida, Capital Improvement Revenue Bonds, Phase 1
No Opt. Call
N/R
531,897
   
Project, Series 2013A, 5.500%, 11/01/23
      
1,270
  
Broward County, Florida, Fuel System Revenue Bonds, Fort Lauderdale Fuel Facilities LLC
No Opt. Call
AA
1,468,387
   
Project, Series 2013A, 5.000%, 4/01/23 – AGM Insured (Alternative Minimum Tax)
      
455
  
Capital Trust Agency, Florida, Fixed Rate Air Cargo Revenue Refunding Bonds, Aero Miami FX,
7/20 at 100.00
Baa3
498,143
   
LLC Project, Series 2010A, 5.350%, 7/01/29
      
2,000
  
Collier County Educational Facilities Authority, Florida, Revenue Bonds, Ave Maria University,
No Opt. Call
BBB–
2,094,040
   
Refunding Series 2013A, 4.500%, 6/01/23
      
1,000
  
Florida Mid-Bay Bridge Authority, Revenue Bonds, 1st Senior Lien Series 2015A, 5.000%, 10/01/23
No Opt. Call
BBB+
1,150,140
2,960
  
Florida Municipal Power Agency, Revenue Bonds, Saint Lucie Project, Refunding Series 2012A,
No Opt. Call
A2
3,428,745
   
5.000%, 10/01/26
      
   
Martin County Industrial Development Authority, Florida, Industrial Development Revenue
      
   
Refunding Bonds, Indiantown Cogeneration LP, Series 2013:
      
2,535
  
3.950%, 12/15/21 (Alternative Minimum Tax)
6/20 at 100.00
Ba1
2,623,269
500
  
4.200%, 12/15/25 (Alternative Minimum Tax)
6/20 at 100.00
Ba1
507,780
1,400
  
Palm Beach County Health Facilities Authority, Florida, Revenue Bonds, Jupiter Medical Center,
No Opt. Call
BBB+
1,560,482
   
Series 2013A, 5.000%, 11/01/22
      
250
  
Seminole Tribe of Florida, Special Obligation Bonds, Series 2007A, 144A, 5.750%, 10/01/22
10/17 at 100.00
BBB–
266,245
305
  
Southeast Overtown/Park West Community Redevelopment Agency, Florida, Tax Increment
No Opt. Call
BBB+
346,751
   
Revenue Bonds, Series 2014A-1, 5.000%, 3/01/24
      
1,370
  
Verandah West Community Development District, Florida, Capital Improvement Revenue Bonds,
No Opt. Call
N/R
1,353,642
   
Refunding Series 2013, 4.000%, 5/01/23
      
15,130
  
Total Florida
    
16,460,469
   
Georgia – 3.9% (3.0% of Total Investments)
      
1,025
  
Atlanta, Georgia, Tax Allocation Bonds, Perry Bolton Project Series 2014, 4.000%, 7/01/22
No Opt. Call
A–
1,098,042
1,000
  
Atlanta, Georgia, Tax Allocation Bonds, Princeton Lakes Project, Series 2006, 5.500%, 1/01/31
1/16 at 100.00
BBB–
1,003,380
2,000
  
East Point Building Authority, Georgia, Revenue Bonds, Water & Sewer Project Series 2006A,
2/16 at 100.00
N/R
2,007,780
   
5.000%, 2/01/34 – SYNCORA GTY Insured
      
2,000
  
Fulton County Development Authority, Georgia, Revenue Bonds, Robert W. Woodruff Arts
No Opt. Call
A2
2,050,660
   
Center, Inc. Project, Refunding Series 2009B, 5.000%, 3/15/16
      
912
  
Liberty County Industrial Authority, Georgia, Revenue Bonds, Series 2012A-2, 3.930%, 7/01/26
11/15 at 100.00
N/R
777,884
6,937
  
Total Georgia
    
6,937,746
   
Idaho – 0.6% (0.4% of Total Investments)
      
1,000
  
Madison County, Idaho, Hospital Revenue Certificates of Participation, Madison Memorial
9/16 at 100.00
BB+
1,021,670
   
Hospital, Series 2006, 5.250%, 9/01/20
      
   
Illinois – 12.8% (9.9% of Total Investments)
      
2,500
  
Cook County, Illinois, General Obligation Bonds, Tender Option Bond Trust 2015-XF1007,
11/22 at 100.00
AA
3,257,100
   
20.516%, 11/15/25 (IF) (4)
      
1,190
  
Hillside, Cook County, Illinois, Tax Increment Revenue Bonds, Mannheim Redevelopment Project,
1/18 at 102.00
N/R
1,280,809
   
Senior Lien Series 2008, 6.550%, 1/01/20
      
1,790
  
Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Refunding Senior Lien Series
No Opt. Call
AA–
2,045,773
   
2014A, 5.000%, 12/01/19
      
1,000
  
Illinois Finance Authority, Charter School Revenue Bonds, Chicago Charter School Foundation,
12/16 at 100.00
BBB
1,013,290
   
Series 2007, 5.000%, 12/01/26
      
1,500
  
Illinois Finance Authority, Revenue Bonds, Friendship Village of Schaumburg, Series 2005A,
11/15 at 100.00
BB–
1,500,060
   
5.375%, 2/15/25
      
2,680
  
Illinois Finance Authority, Revenue Bonds, Illinois Institute of Technology, Refunding Series
4/16 at 100.00
Baa3
2,689,970
   
2006A, 5.000%, 4/01/24
      
250
  
Illinois Finance Authority, Revenue Bonds, Montgomery Place Project, Series 2006A,
5/17 at 100.00
N/R
253,345
   
5.500%, 5/15/26
      
4,000
  
Illinois Municipal Electric Agency, Power Supply System Revenue Bonds, Refunding Series 2015A,
No Opt. Call
A1
4,668,920
   
5.000%, 2/01/27
      
5,000
  
Illinois State, General Obligation Bonds, Series 2013, 5.000%, 7/01/23
No Opt. Call
A–
5,361,000
1,000
  
Southwestern Illinois Development Authority, Local Government Revenue Bonds, Edwardsville
No Opt. Call
AA
797,290
   
Community Unit School District 7 Project, Series 2007, 0.000%, 12/01/22 – AGM Insured
      
20,910
  
Total Illinois
    
22,867,557
   
Indiana – 2.3% (1.8% of Total Investments)
      
1,180
  
Indiana Finance Authority, Educational Facilities Revenue Bonds, 21st Century Charter School
3/23 at 100.00
B+
1,182,112
   
Project, Series 2013A, 6.000%, 3/01/33
      
1,500
  
Indiana Finance Authority, Lease Appropriation Bonds, Stadium Project, Refunding Series 2015A,
No Opt. Call
AA+
1,809,015
   
5.000%, 2/01/25
      
1,145
  
Indiana Finance Authority, Private Activity Bonds, Ohio River Bridges East End Crossing
1/17 at 100.00
BBB
1,201,735
   
Project, Series 2013B, 5.000%, 1/01/19 (Alternative Minimum Tax)
      
3,825
  
Total Indiana
    
4,192,862
   
Iowa – 2.8% (2.2% of Total Investments)
      
1,000
  
Iowa Finance Authority, Health Facility Revenue Bonds, Care Initiatives Project, Series 2006A,
7/16 at 100.00
BB+
1,019,050
   
5.500%, 7/01/25
      
2,000
  
Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company
No Opt. Call
BB–
2,116,200
   
Project, Series 2013, 5.000%, 12/01/19
      
2,000
  
Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B,
6/17 at 100.00
B+
1,899,680
   
5.600%, 6/01/34
      
5,000
  
Total Iowa
    
5,034,930
   
Kentucky – 2.1% (1.6% of Total Investments)
      
   
Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds,
      
   
Louisville Arena Authority, Inc., Series 2008-A1:
      
1,320
  
5.750%, 12/01/28 – AGC Insured
6/18 at 100.00
AA
1,401,298
115
  
6.000%, 12/01/33 – AGC Insured
6/18 at 100.00
AA
122,530
3,000
  
Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds,
No Opt. Call
Baa3
2,188,050
   
Downtown Crossing Project, Capital Appreciation Series 2013B, 0.000%, 7/01/23
      
4,435
  
Total Kentucky
    
3,711,878
   
Louisiana – 1.0% (0.7% of Total Investments)
      
500
  
Louisiana Local Government Environmental Facilities & Community Development Authority,
11/17 at 100.00
BBB+
549,255
   
Revenue Bonds, Westlake Chemical Corporation Project, Series 2007, 6.750%, 11/01/32
      
1,000
  
New Orleans, Louisiana, Water Revenue Bonds, Refunding Series 2014, 5.000%, 12/01/22
No Opt. Call
BBB+
1,163,640
1,500
  
Total Louisiana
    
1,712,895
   
Maine – 2.4% (1.9% of Total Investments)
      
1,000
  
Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical
7/23 at 100.00
BBB
1,065,590
   
Center Obligated Group Issue, Series 2013, 5.000%, 7/01/33
      
   
Maine Turnpike Authority, Special Obligation Bonds, Series 2014:
      
620
  
5.000%, 7/01/25
No Opt. Call
A
735,680
340
  
5.000%, 7/01/27
No Opt. Call
A
395,998
1,850
  
5.000%, 7/01/29
No Opt. Call
A
2,124,337
3,810
  
Total Maine
    
4,321,605
   
Maryland – 1.0% (0.8% of Total Investments)
      
   
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Frederick Memorial
      
   
Hospital Issue, Series 2012A:
      
195
  
5.000%, 7/01/20
No Opt. Call
Baa1
220,237
275
  
5.000%, 7/01/22
No Opt. Call
Baa1
313,855
1,000
  
Prince George’s County, Maryland, General Obligation Consolidated Public Improvement Bonds,
No Opt. Call
AAA
1,199,690
   
Series 2011A, 5.000%, 9/15/22
      
1,470
  
Total Maryland
    
1,733,782
   
Massachusetts – 2.0% (1.6% of Total Investments)
      
250
  
Massachusetts Development Finance Agency, First Mortgage Revenue Bonds, Brookhaven at
11/15 at 100.00
AA
250,565
   
Lexington Project, Series 2005A, 5.000%, 3/01/35 – RAAI Insured
      
1,000
  
Massachusetts Development Finance Agency, Resource Recovery Revenue Bonds, Covanta Energy
No Opt. Call
BB+
1,016,380
   
Project, Series 2012A, 4.875%, 11/01/27 (Alternative Minimum Tax)
      
420
  
Massachusetts Development Finance Agency, Revenue Bonds, Boston Medical Center Issue,
7/22 at 100.00
BBB
458,107
   
Series 2012C, 5.000%, 7/01/29
      
   
Massachusetts Development Finance Agency, Revenue Bonds, Boston Medical Center Issue,
      
   
Series 2012C:
      
80
  
5.000%, 7/01/29 (Pre-refunded 7/01/22)
7/22 at 100.00
N/R (5)
96,022
500
  
5.000%, 7/01/29 (Pre-refunded 7/01/22)
7/22 at 100.00
Baa2 (5)
600,135
   
Massachusetts Port Authority, Special Facilities Revenue Bonds, Delta Air Lines Inc.,
      
   
Series 2001A:
      
140
  
5.000%, 1/01/21 – AMBAC Insured
11/15 at 100.00
N/R
140,354
1,000
  
5.000%, 1/01/27 – AMBAC Insured (Alternative Minimum Tax)
1/16 at 100.00
N/R
1,002,530
3,390
  
Total Massachusetts
    
3,564,093
   
Michigan – 8.0% (6.2% of Total Investments)
      
1,000
  
Detroit City School District, Wayne County, Michigan, General Obligation Bonds, Tender Option
No Opt. Call
Aa1
1,778,600
   
Bond Trust 3308, 22.713%, 11/01/26 – AGM Insured (IF) (4)
      
62
  
Detroit, Michigan, General Obligation Bonds, Series 2005A, 5.000%, 4/01/25 – AGM Insured
4/16 at 100.00
AA
62,811
   
Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2006B:
      
50
  
5.000%, 7/01/33 – NPFG Insured
7/16 at 100.00
AA–
50,832
60
  
5.000%, 7/01/33 – FGIC Insured
7/16 at 100.00
AA–
60,998
1,260
  
5.000%, 7/01/36 – MBIA-NPFG Insured
7/16 at 100.00
AA–
1,280,954
735
  
Detroit, Michigan, Water Supply System Second Lien Revenue Bonds, Series 2003B, 5.000%,
11/15 at 100.00
AA–
737,396
   
7/01/34 – NPFG Insured
      
250
  
Detroit, Michigan, Water Supply System Second Lien Revenue Bonds, Series 2006A, 5.000%,
7/16 at 100.00
AA
254,385
   
7/01/34 – AGM Insured
      
290
  
Detroit, Michigan, Water Supply System Second Lien Revenue Refunding Bonds, Series 2006C,
No Opt. Call
AA
295,087
   
5.000%, 7/01/33 – AGM Insured
      
165
  
Detroit, Michigan, Water Supply System Senior Lien Revenue Bonds, Series 2003A, 5.000%,
11/15 at 100.00
A3
165,538
   
7/01/34 – NPFG Insured
      
440
  
Detroit, Michigan, Water Supply System Senior Lien Revenue Bonds, Series 2003D. RMKTD,
No Opt. Call
AA–
447,317
   
5.000%, 7/01/33 – NPFG Insured
      
10
  
Detroit, Michigan, Water Supply System Senior Lien Revenue Refunding Bonds, Series 2006D,
7/16 at 100.00
AA
10,175
   
5.000%, 7/01/32 – AGM Insured
      
730
  
Flint Hospital Building Authority, Michigan, Building Authority Revenue Bonds, Hurley Medical
No Opt. Call
Ba1
753,338
   
Center, Series 2013A, 5.000%, 7/01/23
      
338
  
Michigan Finance Authority, Detroit, Michigan, Local Government Loan Program, Unlimited Tax
4/16 at 100.00
AA
342,421
   
General Obligation Bonds, Series 2014G-8A, 5.000%, 4/01/25 – AGM Insured
      
2,020
  
Michigan Finance Authority, Hospital Revenue Bonds, Crittenton Hospital Medical Center,
No Opt. Call
BBB
1,993,437
   
Refunding Series 2012A, 4.125%, 6/01/32
      
3,000
  
Michigan Finance Authority, Local Government Loan Program Revenue Bonds, Detroit Water &
No Opt. Call
AA
3,446,489
   
Sewerage Department Water Supply System Local Project, Refunding Senior Loan Series
      
   
2014D-1, 5.000%, 7/01/23 – AGM Insured
      
220
  
Michigan Finance Authority, Public School Academy Limited Obligation Revenue Bonds,
No Opt. Call
BB
225,084
   
Old Redford Academy Project, Series 2010A, 5.250%, 12/01/20
      
1,405
  
Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Tender Option Bond
No Opt. Call
AA
2,335,194
   
Trust 2015-XF0126, 22.179%, 12/01/18 (IF) (4)
      
12,035
  
Total Michigan
    
14,240,056
   
Minnesota – 1.6% (1.2% of Total Investments)
      
750
  
Rochester, Minnesota, Health Care Facilities Revenue Bonds, Olmsted Medical Center Project,
No Opt. Call
A–
855,570
   
Series 2013, 5.000%, 7/01/20
      
   
Saint Paul Housing and Redevelopment Authority, Minnesota, Lease Revenue Bonds, Saint Paul
      
   
Conservatory for Performing Artists Charter School Project, Series 2013A:
      
205
  
3.550%, 3/01/21
No Opt. Call
BBB–
206,515
100
  
3.700%, 3/01/22
No Opt. Call
BBB–
100,974
   
Sauk Rapids, Minnesota, Health Care and Housing Facilities Revenue Bonds, Good Shepherd
      
   
Lutheran Home, Refunding Series 2013:
      
610
  
5.000%, 1/01/17
No Opt. Call
N/R
629,935
500
  
5.000%, 1/01/18
No Opt. Call
N/R
525,355
500
  
5.000%, 1/01/19
No Opt. Call
N/R
531,720
2,665
  
Total Minnesota
    
2,850,069
   
Mississippi – 2.5% (2.0% of Total Investments)
      
   
Mississippi Development Bank Special Obligation Bonds, Marshall County Industrial Development
      
   
Authority, Mississippi Highway Construction Project, Tender Option Bond Trust 3315:
      
800
  
22.558%, 1/01/20 (IF) (4)
No Opt. Call
AA–
1,422,800
1,000
  
22.558%, 1/01/20 (IF) (4)
No Opt. Call
AA–
1,740,450
200
  
22.558%, 1/01/20 (IF) (4)
No Opt. Call
AA–
340,530
1,000
  
Mississippi Hospital Equipment and Facilities Authority, Revenue Bonds, South Central Regional
12/16 at 100.00
BBB
1,034,580
   
Medical Center, Refunding & Improvement Series 2006, 5.250%, 12/01/21
      
3,000
  
Total Mississippi
    
4,538,360
   
Missouri – 2.9% (2.2% of Total Investments)
      
550
  
Franklin County Industrial Development Authority, Missouri, Sales Tax Refunding Revenue Bonds,
11/20 at 100.00
N/R
567,193
   
Phoenix Center II Community Improvement District Project, Series 2013A, 4.000%, 11/01/25
      
1,000
  
Kansas City Tax Increment Financing Commission, Missouri, Tax Increment Revenue Bonds,
6/16 at 100.00
N/R
1,011,330
   
Briarcliff West Project, Series 2006A, 5.400%, 6/01/24
      
3,000
  
Missouri Joint Municipal Electric Utility Commission, Power Project Revenue Bonds, Plum Point
No Opt. Call
A–
3,528,150
   
Project, Refunding Series 2014A, 5.000%, 1/01/23
      
4,550
  
Total Missouri
    
5,106,673
   
Nebraska – 1.8% (1.4% of Total Investments)
      
3,000
  
Central Plains Energy Project, Nebraska, Gas Project 3 Revenue Bonds, Series 2012,
9/22 at 100.00
A
3,269,460
   
5.000%, 9/01/32
      
   
New Jersey – 6.7% (5.2% of Total Investments)
      
615
  
New Jersey Economic Development Authority, Charter School Revenue Bonds, Lady Liberty
No Opt. Call
B
508,734
   
Academy Charter School Project, Series 2013A, 5.150%, 8/01/23
      
   
New Jersey Economic Development Authority, Cigarette Tax Revenue Refunding Bonds, Series 2012:
      
2,000
  
5.000%, 6/15/24
6/22 at 100.00
BBB+
2,165,380
1,000
  
5.000%, 6/15/28
No Opt. Call
BBB+
1,057,270
   
New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge
      
   
Replacement Project, Series 2013:
      
860
  
5.000%, 1/01/21 (Alternative Minimum Tax)
No Opt. Call
BBB–
974,973
500
  
5.000%, 1/01/22 (Alternative Minimum Tax)
No Opt. Call
BBB–
572,780
500
  
5.000%, 7/01/22 (Alternative Minimum Tax)
No Opt. Call
BBB–
575,075
620
  
5.000%, 1/01/23 (Alternative Minimum Tax)
No Opt. Call
BBB–
708,734
1,000
  
New Jersey Economic Development Authority, School Facilities Construction Financing Program
3/25 at 100.00
A–
481,350
   
Bonds, Tender Option Bond Trust 1151, 2.685%, 9/01/25 (IF) (4)
      
1,000
  
New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental
9/22 at 101.00
BB–
1,089,130
   
Airlines Inc., Series 1999, 5.250%, 9/15/29 (Alternative Minimum Tax)
      
1,045
  
New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters
7/18 at 100.00
BB+
1,099,643
   
University Hospital, Series 2007, 5.250%, 7/01/21
      
195
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Joseph’s
No Opt. Call
BBB–
206,996
   
Healthcare System Obligated Group Issue, Series 2008, 6.000%, 7/01/18
      
3,000
  
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds,
6/17 at 100.00
B
2,543,910
   
Series 2007-1A, 5.000%, 6/01/29
      
12,335
  
Total New Jersey
    
11,983,975
   
New York – 5.2% (4.0% of Total Investments)
      
495
  
Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue Bonds,
7/25 at 100.00
BBB+
551,722
   
Catholic Health System, Inc. Project, Series 2015, 5.000%, 7/01/29
      
500
  
Buffalo and Fort Erie Public Bridge Authority, New York, Toll Bridge System Revenue Bonds,
No Opt. Call
A+
546,980
   
Refunding Series 2014, 5.000%, 1/01/18
      
   
New York City Industrial Development Agency, New York, American Airlines-JFK International
      
   
Airport Special Facility Revenue Bonds, Series 2005:
      
385
  
7.500%, 8/01/16 (Alternative Minimum Tax)
No Opt. Call
N/R
398,579
2,000
  
7.625%, 8/01/25 (Alternative Minimum Tax)
8/16 at 101.00
N/R
2,127,280
   
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Vaughn
      
   
College of Aeronautics, Series 2006A:
      
195
  
5.000%, 12/01/16
No Opt. Call
BB
200,784
1,800
  
5.000%, 12/01/21
12/16 at 100.00
BB
1,873,530
130
  
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Vaughn
No Opt. Call
BB
133,856
   
College of Aeronautics, Series 2006B, 5.000%, 12/01/16
      
2,000
  
New York Convention Center Development Corporation, New York, Hotel Unit Fee Secured Revenue
No Opt. Call
Aa3
2,412,600
   
Bonds, Refunding Series 2015, 5.000%, 11/15/25
      
1,000
  
Suffolk County Industrial Development Agency, New York, Continuing Care Retirement Community
11/16 at 100.00
BBB–
1,020,950
   
Revenue Bonds, Jefferson’s Ferry Project, Series 2006, 5.000%, 11/01/28
      
8,505
  
Total New York
    
9,266,281
   
North Carolina – 0.9% (0.7% of Total Investments)
      
1,040
  
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Refunding Series
No Opt. Call
AAA
1,165,403
   
1993B, 6.000%, 1/01/18 – AMBAC Insured (ETM)
      
400
  
North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Series 2009A,
No Opt. Call
AA
434,556
   
5.250%, 1/01/25 – AGC Insured
      
1,440
  
Total North Carolina
    
1,599,959
   
Ohio – 4.9% (3.8% of Total Investments)
      
3,500
  
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed
6/17 at 100.00
B–
2,938,075
   
Revenue Bonds, Senior Lien, Series 2007A-2, 5.875%, 6/01/30
      
2,000
  
Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Ohio Valley Electric Corporation
No Opt. Call
BBB–
2,236,580
   
Project, Series 2009E, 5.625%, 10/01/19
      
1,150
  
Ohio State Treasurer, Tax-Exempt Private Activity Bonds, Portsmouth Gateway Group, LLC –
6/25 at 100.00
AA
1,304,710
   
Borrower, Portsmouth Bypass Project, Series 2015, 5.000%, 12/31/27 – AGM Insured
      
   
(Alternative Minimum Tax)
      
2,000
  
Ross County, Ohio, Hospital Revenue Refunding Bonds, Adena Health System Series 2008,
12/18 at 100.00
A–
2,240,820
   
5.750%, 12/01/28
      
8,650
  
Total Ohio
    
8,720,185
   
Oregon – 0.6% (0.5% of Total Investments)
      
965
  
Astoria Hospital Facilities Authority, Oregon, Hospital Revenue and Refunding Bonds, Columbia
No Opt. Call
BBB–
1,072,047
   
Memorial Hospital, Series 2012, 5.000%, 8/01/22
      
   
Pennsylvania – 4.2% (3.3% of Total Investments)
      
90
  
East Hempfield Township Industrial Development Authority, Pennsylvania, Student Services Inc –
No Opt. Call
BBB–
95,286
   
Student Housing Project at Millersville University, Series 2013, 4.000%, 7/01/19
      
   
Erie Higher Education Building Authority, Pennsylvania, Revenue Bonds, Gannon University
      
   
Project, Series 2013:
      
465
  
4.000%, 5/01/20
No Opt. Call
BBB
504,362
480
  
4.000%, 5/01/21
No Opt. Call
BBB
519,581
500
  
4.000%, 5/01/22
No Opt. Call
BBB
539,085
520
  
4.000%, 5/01/23
No Opt. Call
BBB
560,908
2,190
  
Erie Sewer Authority, Erie County, Pennsylvania, Sewer Revenue Bonds, Series 2012A, 5.000%,
No Opt. Call
AA
2,541,078
   
6/01/21 – AGM Insured
      
1,700
  
Pennsylvania Economic Development Financing Authority, Private Activity Revenue Bonds,
6/26 at 100.00
BBB
1,868,640
   
Pennsylvania Rapid Bridge Replacement Project, Series 2015, 5.000%, 6/30/28
      
   
(Alternative Minimum Tax)
      
   
Southcentral Pennsylvania General Authority, Revenue Bonds, Hanover Hospital Inc., Series 2013:
      
370
  
5.000%, 12/01/20
No Opt. Call
BBB
416,587
435
  
5.000%, 12/01/21
No Opt. Call
BBB
490,254
6,750
  
Total Pennsylvania
    
7,535,781
   
Rhode Island – 1.8% (1.4% of Total Investments)
      
3,000
  
Rhode Island Health & Educational Building Corporation, Public Schools Financing Program
5/19 at 100.00
A3
3,274,710
   
Revenue Bonds, Pooled Series 2009E, 6.000%, 5/15/29 – AGC Insured
      
   
South Carolina – 1.9% (1.5% of Total Investments)
      
1,000
  
Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Series 2010-A2,
No Opt. Call
A–
1,092,010
   
5.000%, 1/01/18
      
2,000
  
South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series
6/24 at 100.00
AA–
2,262,980
   
2014B, 5.000%, 12/01/31
      
3,000
  
Total South Carolina
    
3,354,990
   
Tennessee – 6.3% (4.9% of Total Investments)
      
   
Knox County Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue
      
   
Refunding Bonds, Covenant Health, Series 2012A:
      
1,440
  
5.000%, 1/01/25
No Opt. Call
A
1,659,470
2,170
  
5.000%, 1/01/26
No Opt. Call
A
2,485,192
2,000
  
Memphis-Shelby County Airport Authority, Tennessee, Airport Revenue Bonds, Series 2010B,
7/20 at 100.00
A
2,313,900
   
5.750%, 7/01/22 (Alternative Minimum Tax)
      
400
  
The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006B, 5.625%, 9/01/26
No Opt. Call
BBB
459,116
   
The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006C:
      
1,020
  
5.000%, 2/01/21
No Opt. Call
A
1,134,740
1,490
  
5.000%, 2/01/24
No Opt. Call
A
1,681,793
1,365
  
5.000%, 2/01/25
No Opt. Call
A
1,547,924
9,885
  
Total Tennessee
    
11,282,135
   
Texas – 9.9% (7.7% of Total Investments)
      
200
  
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2010,
1/20 at 100.00
BBB
224,640
   
5.750%, 1/01/25
      
500
  
Central Texas Regional Mobility Authority, Revenue Bonds, Subordinate Lien Refunding Series
No Opt. Call
BBB–
553,470
   
2013, 5.000%, 1/01/22
      
685
  
Denton County Fresh Water Supply District 7, Texas, General Obligation Bonds, Refunding Series
No Opt. Call
AA
733,306
   
2013, 4.000%, 2/15/21 – AGM Insured
      
2,000
  
Gulf Coast Industrial Development Authority, Texas, Solid Waste Disposal Revenue Bonds, Citgo
10/22 at 100.00
BB
2,087,760
   
Petroleum Corporation Project, Series 1995, 4.875%, 5/01/25 (Alternative Minimum Tax)
      
   
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Second Lien
      
   
Series 2014C:
      
230
  
5.000%, 11/15/22
No Opt. Call
A3
265,563
1,660
  
5.000%, 11/15/23
No Opt. Call
A3
1,932,804
960
  
5.000%, 11/15/25
11/24 at 100.00
A3
1,115,194
515
  
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment
No Opt. Call
A2
589,696
   
Facilities Department, Refunding Series 2011A, 5.250%, 9/01/19
      
   
Irving, Texas, Hotel Occupancy Tax Revenue Bonds, Series 2014B:
      
465
  
4.000%, 8/15/22
8/19 at 100.00
BBB+
484,456
535
  
4.000%, 8/15/23
8/19 at 100.00
BBB+
554,490
100
  
Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds,
No Opt. Call
Baa1
113,235
   
Southwest Airlines Company – Love Field Modernization Program Project, Series 2012, 5.000%,
      
   
11/01/20 (Alternative Minimum Tax)
      
   
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue
      
   
Bonds, Scott & White Healthcare Project, Tender Option Bond Trust 1149:
      
100
  
21.913%, 8/15/22 (IF) (4)
No Opt. Call
AA–
180,965
155
  
21.707%, 8/15/24 (IF) (4)
8/23 at 100.00
AA–
283,909
200
  
21.913%, 8/15/26 (IF) (4)
8/23 at 100.00
AA–
352,470
175
  
21.667%, 8/15/27 (IF) (4)
8/23 at 100.00
AA–
301,726
3,000
  
Texas Municipal Gas Acquisition and Supply Corporation I, Gas Supply Revenue Bonds, Senior
No Opt. Call
A–
3,593,039
   
Lien Series 2008D, 6.250%, 12/15/26
      
3,000
  
Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds,
No Opt. Call
A3
3,291,180
   
Series 2012, 5.000%, 12/15/27
      
230
  
Texas Public Finance Authority Charter School Finance Corporation, Education Revenue Bonds,
12/17 at 100.00
BBB–
244,168
   
Uplift Education, Series 2007A, 5.750%, 12/01/27
      
360
  
Texas Public Finance Authority, Revenue Bonds, Texas Southern University Financing System,
5/21 at 100.00
BBB
404,993
   
Series 2011, 6.000%, 5/01/23
      
460
  
Waco Health Facilities Development Corporation, Texas, Hillcrest Health System Project,
8/16 at 100.00
AA– (5)
479,831
   
FHA Insured Mortgage Revenue Bonds, Series 2006A, 5.000%, 8/01/31 (Pre-refunded 8/01/16) –
      
   
NPFG Insured
      
15,530
  
Total Texas
    
17,786,895
   
Utah – 1.8% (1.4% of Total Investments)
      
3,000
  
Salt Lake County, Utah, Research Facility Revenue Bonds, Huntsman Cancer Foundation, Series
12/18 at 100.00
N/R
3,179,790
   
2013A-1, 5.000%, 12/01/33 (Mandatory put 12/15/20)
      
   
Vermont – 0.5% (0.4% of Total Investments)
      
900
  
Vermont Economic Development Authority, Solid Waste Disposal Revenue Bonds, Casella Waste
No Opt. Call
B+
913,284
   
Systems, Inc. Project, Series 2013, 4.750%, 4/01/36 (Mandatory put 4/02/18) (Alternative
      
   
Minimum Tax)
      
   
Virgin Islands – 1.2% (0.9% of Total Investments)
      
2,000
  
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Refunding Series
No Opt. Call
AA
2,121,740
   
2012A, 4.000%, 10/01/22 – AGM Insured
      
   
Virginia – 0.3% (0.3% of Total Investments)
      
535
  
Chesapeake, Virginia, Transportation System Senior Toll Road Revenue Bonds, Series 2012A,
No Opt. Call
BBB
608,616
   
5.000%, 7/15/21
      
   
Washington – 0.5% (0.4% of Total Investments)
      
700
  
Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2015A, 5.000%, 4/01/27
10/24 at 100.00
A+
817,096
   
West Virginia – 0.6% (0.5% of Total Investments)
      
1,035
  
West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds,
No Opt. Call
Baa1
1,036,501
   
Appalachian Power Company – Amos Project, Refunding Series 2015A, 0.000%, 3/01/40
      
   
Wisconsin – 0.4% (0.3% of Total Investments)
      
   
University of Wisconsin Hospitals and Clinics Authority, Revenue Bonds, Tender Option Bond
      
   
Trust 2015-XF0127:
      
50
  
20.652%, 4/01/20 (IF) (4)
No Opt. Call
Aa3
91,700
100
  
21.477%, 10/01/20 (IF) (4)
No Opt. Call
Aa3
191,255
185
  
21.087%, 10/01/20 (IF) (4)
No Opt. Call
Aa3
338,430
100
  
21.477%, 10/01/20 (IF) (4)
No Opt. Call
Aa3
178,280
435
  
Total Wisconsin
    
799,665
$ 209,557
  
Total Long-Term Investments (cost $229,761,270)
    
230,221,724
   
Variable Rate MuniFund Term Preferred Shares, at Liquidation Value – (30.8)% (6)
    
(55,000,000)
   
Other Assets Less Liabilities – 2.0% (7)
    
3,487,908
   
Net Assets Applicable to Common Shares – 100%
    
$ 178,709,632
 
 
Investments in Derivatives as of August 31, 2015 
          
Interest Rate Swaps outstanding:
            
   
Fund
    
Fixed Rate
    
Unrealized
 
Notional
Pay/Receive
Floating Rate
Fixed Rate
Payment
Effective
Termination
Appreciation
Counterparty
Amount
Floating Rate
Index
(Annualized)
Frequency
Date (8)
Date
(Depreciation)
Citigroup Inc.
$ 4,600,000
Receive
3-Month USD-LIBOR-ICE
2.504%
Semi-Annually
9/20/16
9/20/26
$    12,642
JPMorgan
9,800,000
Receive
Weekly USD-SIFMA
1.947
Quarterly
6/09/16
6/09/26
(70,697)
JPMorgan
6,700,000
Receive
3-Month USD-LIBOR-ICE
2.857
Quarterly
7/13/16
7/13/26
(222,017)
 
$21,100,000
            
$(280,072)
 
 
Fair Value Measurements
 
Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
 
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
 
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
 
The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
 
 
Level 1
Level 2
Level 3
Total
Long-Term Investments:
        
Municipal Bonds
$ —
$230,221,724
$ —
$230,221,724
Investments in Derivatives:
        
Interest Rate Swaps*
—
(280,072)
—
(280,072)
Total
$ —
$229,941,652
$ —
$229,941,652
* Represents net unrealized appreciation (depreciation).
 
Income Tax Information
 
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
 
As of August 31, 2015, the cost of investments (excluding investments in derivatives) was $229,645,130.
 
Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of August 31, 2015, were as follows:
   
Gross unrealized:
  
Appreciation
$  3,644,404
Depreciation
(3,067,810)
Net unrealized appreciation (depreciation) of investments
$     576,594
 
 
(1)
  
All percentages shown in the Portfolio of Investments are based on net assets.
(2)
  
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption.
   
There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities
   
may be subject to periodic principal paydowns.
(3)
  
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service,
   
Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s
   
or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by
   
any of these national rating agencies.
(4)
  
Investment, or portion of investment, has been pledged to collateralize the net payment obligations
   
for investments in derivatives and/or inverse floating rate transactions.
(5)
  
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency
   
securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S.
   
Government or agency securities are regarded as having an implied rating equal to the rating of
   
such securities.
(6)
  
Variable Rate MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total
   
Investments is 23.9%.
(7)
  
Other assets less liabilities includes the unrealized appreciation (depreciation) of certain over-the-counter
   
derivatives as well as the exchange-cleared and exchange-traded derivatives, when applicable.
(8)
  
Effective date represents the date on which both the Fund and Counterparty commence interest payment
   
accruals on each contract.
(ETM)
  
Escrowed to maturity.
(IF)
  
Inverse floating rate investment.
144A
  
Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended.
   
These investments may only be resold in transactions exempt from registration, which are normally
   
those transactions with qualified institutional buyers.
USD-LIBOR-ICE
  
United States Dollar-London Inter-Bank Offered Rate-Intercontinental Exchange
USD-SIFMA
  
United States Dollar-Securities Industry and Financial Markets Association
 
 
 
 
 
Item 2. Controls and Procedures.

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

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

 
 
 
 
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
(Registrant)  Nuveen Intermediate Duration Quality Municipal Term Fund 
 
By (Signature and Title) /s/ Kevin J. McCarthy                    
       Kevin J. McCarthy
     Vice President and Secretary
                                         
Date:         October 30, 2015        
 
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
 
By (Signature and Title) /s/ Gifford R. Zimmerman            
       Gifford R. Zimmerman
     Chief Administrative Officer (principal executive officer)
                        
Date:         October 30, 2015        
 
By (Signature and Title) /s/ Stephen D. Foy                         
 
     Stephen D. Foy
     Vice President and Controller (principal financial officer)
                                                                                         
Date:         October 30, 2015