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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000891804-10-001326.txt : 20100401
<SEC-HEADER>0000891804-10-001326.hdr.sgml : 20100401
<ACCEPTANCE-DATETIME>20100401113805
ACCESSION NUMBER:		0000891804-10-001326
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100131
FILED AS OF DATE:		20100401
DATE AS OF CHANGE:		20100401
EFFECTIVENESS DATE:		20100401

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NUVEEN INSURED TAX FREE ADVANTAGE MUNICIPAL FUND
		CENTRAL INDEX KEY:			0001195737
		IRS NUMBER:				030487030
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21213
		FILM NUMBER:		10722423

	BUSINESS ADDRESS:	
		STREET 1:		333 WEST WACKER DRIVE
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		3129178146
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>nq2.htm
<DESCRIPTION>NEA_NQ
<TEXT>
<html>
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    <title>Unassociated Document</title>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">UNITED
STATES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
AND EXCHANGE COMMISSION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
DC 20549</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FORM
N-Q</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">QUARTERLY
SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT
COMPANY</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Investment
Company Act file number <font style="DISPLAY: inline; TEXT-DECORATION: underline">811-21213</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Nuveen Insured Tax-Free
Advantage Municipal Fund</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
name of registrant as specified in charter)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Nuveen
Investments</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;333
West Wacker Drive, Chicago, Illinois 60606
&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
of principal executive offices) (Zip code)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Kevin
J. McCarthy</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vice
President and Secretary</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;333
West Wacker Drive, Chicago, Illinois 60606
&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Name and
address of agent for service)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant's
telephone number, including area code: <font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;312-917-7700&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of
fiscal year end:&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;10/31&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of
reporting period:&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1/31/10&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form N-Q
is to be used by management investment companies, other than small business
investment companies registered on Form N-5 (&#167;&#167; 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.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
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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. &#167; 3507.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      </div>
      <div id="HDR">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
1. Schedule of Investments</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br></font>

      <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
        <div align="left">
          <table border="0" cellspacing="0" style="FONT-SIZE: 10pt; WIDTH: 9in; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'Arial Narrow'">
<tr>
                <td width="7%">
                </td>
                <td width="59%">
                </td>
                <td width="13%">
                </td>
                <td width="9%">
                </td>
                <td width="10%">
                </td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 12px"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Portfolio of Investments
      (Unaudited)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;&#160;&#160; Nuveen
      Insured Tax-Free Advantage Municipal Fund (NEA)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 12px"><font style="DISPLAY: inline; FONT-STYLE: italic">January 31,
    2010</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Principal</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="right" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Optional Call</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Amount (000)</font></td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Description (1)</font></td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Provisions (2)</font></td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Ratings (3)</font></td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Value</font></td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Alabama &#8211; 7.2% (4.9% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>$&#160;&#160;&#160;&#160; 1,000&#160;</td>
                <td align="left" nowrap>Alabama Special Care Facilities Financing Authority,
      Revenue Bonds, Ascension Health, Series&#160;</td>
                <td align="right" nowrap>11/16 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>$&#160;&#160;&#160; 1,002,780&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2006C-2, 5.000%, 11/15/36
      (UB)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,655&#160;</td>
                <td align="left" nowrap>Colbert County-Northwest Health Care Authority,
      Alabama, Revenue Bonds, Helen Keller Hospital,&#160;</td>
                <td align="right" nowrap>6/13 at 101.00&#160;</td>
                <td align="right" nowrap>Baa3&#160;</td>
                <td align="right" nowrap>5,312,137&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2003, 5.750%,
      6/01/27&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,100&#160;</td>
                <td align="left" nowrap>Huntsville Healthcare Authority, Alabama, Revenue
      Bonds, Series 1998A, 5.400%, 6/01/22&#160;</td>
                <td align="right" nowrap>5/12 at 102.00&#160;</td>
                <td align="right" nowrap>A (4)&#160;</td>
                <td align="right" nowrap>3,448,595&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">(Pre-refunded 5/14/12) &#8211;
      MBIA Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,280&#160;</td>
                <td align="left" nowrap>Jefferson County, Alabama, Sewer Revenue Capital
      Improvement Warrants, Series 2002D, 5.000%,&#160;</td>
                <td align="right" nowrap>8/12 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>6,904,169&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2/01/32 (Pre-refunded
      8/01/12) &#8211; FGIC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,750&#160;</td>
                <td align="left" nowrap>Montgomery, Alabama, General Obligation Warrants,
      Series 2003, 5.000%, 5/01/21 &#8211; AMBAC Insured&#160;</td>
                <td align="right" nowrap>5/12 at 101.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>1,878,870&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">4,500&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Sheffield,
      Alabama, Electric Revenue Bonds, Series 2003, 5.500%, 7/01/29 &#8211; AMBAC
      Insured&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">7/13 at
      100.00&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">A2&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">4,701,960&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">22,285&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Alabama&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">23,248,511&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Arizona &#8211; 4.6% (3.1% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,000&#160;</td>
                <td align="left" nowrap>Maricopa County Pollution Control Corporation,
      Arizona, Revenue Bonds, Arizona Public Service&#160;</td>
                <td align="right" nowrap>11/12 at 100.00&#160;</td>
                <td align="right" nowrap>Baa2&#160;</td>
                <td align="right" nowrap>9,311,500&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Company &#8211; Palo Verde
      Project, Series 2002A, 5.050%, 5/01/29 &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,545&#160;</td>
                <td align="left" nowrap>Phoenix, Arizona, Civic Improvement Revenue Bonds,
      Civic Plaza, Series 2005B, 0.000%,&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>5,551,862&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">7/01/37 &#8211; FGIC Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">16,545&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Arizona&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">14,863,362&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">California &#8211; 20.5% (13.9% of
      Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>26,300&#160;</td>
                <td align="left" nowrap>California State Public Works Board, Lease Revenue
      Bonds, Department of General Services,&#160;</td>
                <td align="right" nowrap>12/12 at 100.00&#160;</td>
                <td align="right" nowrap>BBB+&#160;</td>
                <td align="right" nowrap>24,476,095&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Capital East End Project,
      Series 2002A, 5.000%, 12/01/27 &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>250&#160;</td>
                <td align="left" nowrap>California State, General Obligation Bonds, Series
      2002, 5.250%, 4/01/30 &#8211; SYNCORA GTY Insured&#160;</td>
                <td align="right" nowrap>4/12 at 100.00&#160;</td>
                <td align="right" nowrap>Baa1&#160;</td>
                <td align="right" nowrap>242,125&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5&#160;</td>
                <td align="left" nowrap>California State, General Obligation Bonds, Series
      2004, 5.000%, 4/01/31 &#8211; AMBAC Insured&#160;</td>
                <td align="right" nowrap>4/14 at 100.00&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>4,613&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>7,495&#160;</td>
                <td align="left" nowrap>California State, General Obligation Bonds, Series
      2004, 5.000%, 4/01/31 (Pre-refunded&#160;</td>
                <td align="right" nowrap>4/14 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>8,665,419&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">4/01/14) &#8211; AMBAC
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,910&#160;</td>
                <td align="left" nowrap>Cathedral City Public Financing Authority,
      California, Tax Allocation Bonds, Housing&#160;</td>
                <td align="right" nowrap>8/12 at 102.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>2,796,161&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Set-Aside, Series 2002D,
      5.000%, 8/01/26 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>250&#160;</td>
                <td align="left" nowrap>Golden State Tobacco Securitization Corporation,
      California, Enhanced Tobacco Settlement&#160;</td>
                <td align="right" nowrap>6/17 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>172,683&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Asset-Backed Bonds, Series
      2007A-1, 5.125%, 6/01/47&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>8,000&#160;</td>
                <td align="left" nowrap>Golden State Tobacco Securitization Corporation,
      California, Tobacco Settlement Asset-Backed&#160;</td>
                <td align="right" nowrap>6/15 at 100.00&#160;</td>
                <td align="right" nowrap>BBB+&#160;</td>
                <td align="right" nowrap>7,011,200&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Revenue Bonds, Series
      2005A, 5.000%, 6/01/35 &#8211; FGIC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,500&#160;</td>
                <td align="left" nowrap>Irvine Public Facilities and Infrastructure
      Authority, California, Assessment Revenue Bonds,&#160;</td>
                <td align="right" nowrap>9/13 at 100.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>2,407,475&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2003C, 5.000%,
      9/02/23 &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,000&#160;</td>
                <td align="left" nowrap>Montara Sanitation District, California, General
      Obligation Bonds, Series 2003, 5.000%,&#160;</td>
                <td align="right" nowrap>8/11 at 101.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>4,029,360&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">8/01/28 &#8211; FGIC
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Plumas County, California, Certificates of
      Participation, Capital Improvement Program,&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Series 2003A:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,130&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.250%, 6/01/19 &#8211; AMBAC
      Insured&#160;</td>
                <td align="right" nowrap>6/13 at 101.00&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>1,155,538&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,255&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.250%, 6/01/21 &#8211; AMBAC
      Insured&#160;</td>
                <td align="right" nowrap>6/13 at 101.00&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>1,271,064&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,210&#160;</td>
                <td align="left" nowrap>Redding Joint Powers Financing Authority,
      California, Lease Revenue Bonds, Capital Improvement&#160;</td>
                <td align="right" nowrap>3/13 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>1,232,809&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Projects, Series 2003A,
      5.000%, 3/01/23 &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,750&#160;</td>
                <td align="left" nowrap>Sacramento Municipal Utility District, California,
      Electric Revenue Bonds, Series 2003R,&#160;</td>
                <td align="right" nowrap>8/13 at 100.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>3,777,750&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 8/15/28 &#8211; NPFG
      Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,500&#160;</td>
                <td align="left" nowrap>San Diego Community College District, California,
      General Obligation Bonds, Series 2003A,&#160;</td>
                <td align="right" nowrap>5/13 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,525,095&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 5/01/28 &#8211; AGM
      Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,055&#160;</td>
                <td align="left" nowrap>Turlock Irrigation District, California,
      Certificates of Participation, Series 2003A, 5.000%,&#160;</td>
                <td align="right" nowrap>1/13 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>1,061,509&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">1/01/28 &#8211; NPFG
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,300&#160;</td>
                <td align="left" nowrap>University of California, Revenue Bonds,
      Multi-Purpose Projects, Series 2003A, 5.000%,&#160;</td>
                <td align="right" nowrap>5/13 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>6,405,651&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">5/15/33 &#8211; AMBAC Insured (UB)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">67,910&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      California&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">66,234,547&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Colorado &#8211; 4.8% (3.3% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Bowles Metropolitan District, Colorado, General
      Obligation Bonds, Series 2003:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,300&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 12/01/23 &#8211; AGM
      Insured&#160;</td>
                <td align="right" nowrap>12/13 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>4,508,593&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,750&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 12/01/28 &#8211; AGM
      Insured&#160;</td>
                <td align="right" nowrap>12/13 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>3,877,950&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,450&#160;</td>
                <td align="left" nowrap>Colorado Educational and Cultural Facilities
      Authority, Charter School Revenue Bonds,&#160;</td>
                <td align="right" nowrap>8/14 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>1,463,369&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Peak-to-Peak Charter
      School, Series 2004, 5.250%, 8/15/24 &#8211; SYNCORA GTY Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,500&#160;</td>
                <td align="left" nowrap>Colorado Health Facilities Authority, Colorado,
      Revenue Bonds, Catholic Health Initiatives,&#160;</td>
                <td align="right" nowrap>4/18 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>4,382,955&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2006C-1, Trust 1090,
      15.198%, 10/01/41 &#8211; AGM Insured (IF)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap>E-470 Public Highway Authority, Colorado, Senior
      Revenue Bonds, Series 2000B, 0.000%,&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>775,500&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">9/01/30 &#8211; NPFG
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,900&#160;</td>
                <td align="left" nowrap>E-470 Public Highway Authority, Colorado, Toll
      Revenue Bonds, Series 2004A, 0.000%, 9/01/34 &#8211;&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>553,146&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">NPFG Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">19,900&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Colorado&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">15,561,513&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">District of Columbia &#8211; 0.6%
      (0.4% of Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>7,000&#160;</td>
                <td align="left" nowrap>Metropolitan Washington DC Airports Authority,
      Virginia, Dulles Toll Raod Revenue Bonds,&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,284,220&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2009B, 0.000%,
      10/01/36 &#8211; AGC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>665&#160;</td>
                <td align="left" nowrap>Washington Convention Center Authority, District of
      Columbia, Senior Lien Dedicated Tax&#160;</td>
                <td align="right" nowrap>10/16 at 100.00&#160;</td>
                <td align="right" nowrap>AA+&#160;</td>
                <td align="right" nowrap>628,033&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Revenue Bonds, Series 2007, Residuals 1606, 11.602%, 10/01/30 &#8211;
      AMBAC Insured (IF)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">7,665&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      District of Columbia&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">1,912,253&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Florida &#8211; 23.5% (15.9% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>Bay County, Florida, Water System Revenue Bonds,
      Series 2005, 5.000%, 9/01/25 &#8211; AMBAC Insured&#160;</td>
                <td align="right" nowrap>9/15 at 100.00&#160;</td>
                <td align="right" nowrap>A3&#160;</td>
                <td align="right" nowrap>1,029,400&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Clay County, Florida, Uiltity System Revenue Bonds,
      Series 2007:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,500&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 11/01/27 &#8211; SYNCORA
      GTY Insured (UB)&#160;</td>
                <td align="right" nowrap>11/17 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,571,550&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 11/01/32 &#8211; SYNCORA
      GTY Insured (UB)&#160;</td>
                <td align="right" nowrap>11/17 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>3,063,960&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>400&#160;</td>
                <td align="left" nowrap>Collier County, Florida, Capital Improvement Revenue
      Bonds, Series 2005, 5.000%, 10/01/23 &#8211;&#160;</td>
                <td align="right" nowrap>10/14 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>417,788&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>Escambia County, Florida, Sales Tax Revenue
      Refunding Bonds, Series 2002, 5.250%, 10/01/17 &#8211;&#160;</td>
                <td align="right" nowrap>10/12 at 101.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>1,107,310&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,525&#160;</td>
                <td align="left" nowrap>Fernandina Beach, Florida, Utility Acquisition and
      Improvement Revenue Bonds, Series 2003,&#160;</td>
                <td align="right" nowrap>9/13 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>1,563,308&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 9/01/23 &#8211; FGIC
      Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>500&#160;</td>
                <td align="left" nowrap>Flagler County, Florida, Capital Improvement Revenue
      Bonds, Series 2005, 5.000%, 10/01/30 &#8211;&#160;</td>
                <td align="right" nowrap>10/15 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>505,870&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>215&#160;</td>
                <td align="left" nowrap>Florida Housing Finance Agency, GNMA Collateralized
      Home Ownership Revenue Refunding Bonds,&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>233,871&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 1987G-1, 8.595%,
      11/01/17&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,500&#160;</td>
                <td align="left" nowrap>Florida State Board of Education, Public Education
      Capital Outlay Bonds, Series 2008, Trust&#160;</td>
                <td align="right" nowrap>6/18 at 101.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>2,939,350&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2929, 17.147%, 6/01/38 &#8211;
      AGC Insured (IF)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,240&#160;</td>
                <td align="left" nowrap>FSU Financial Assistance Inc., Florida, General
      Revenue Bonds, Educational and Athletic&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A1&#160;</td>
                <td align="right" nowrap>2,489,290&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Facilities Improvements,
      Series 2004, 5.000%, 10/01/14 &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap>Greater Orlando Aviation Authority, Florida, Airport
      Facilities Revenue Bonds, Series 2002A,&#160;</td>
                <td align="right" nowrap>10/12 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>2,019,380&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.125%, 10/01/32 &#8211; AGM
      Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>105&#160;</td>
                <td align="left" nowrap>Greater Orlando Aviation Authority, Florida, Airport
      Facilities Revenue Refunding Bonds,&#160;</td>
                <td align="right" nowrap>10/13 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>111,580&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2003A, 5.000%,
      10/01/17 &#8211; AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>350&#160;</td>
                <td align="left" nowrap>Halifax Hospital Medical Center, Florida, Revenue
      Bonds, Series 2006, 5.500%, 6/01/38 &#8211;&#160;</td>
                <td align="right" nowrap>6/18 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>350,669&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,300&#160;</td>
                <td align="left" nowrap>Highlands County Health Facilities Authority,
      Florida, Hospital Revenue Bonds, Adventist&#160;</td>
                <td align="right" nowrap>11/15 at 100.00&#160;</td>
                <td align="right" nowrap>A1&#160;</td>
                <td align="right" nowrap>1,256,034&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Health System, Series
      2005D, 5.000%, 11/15/35 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>180&#160;</td>
                <td align="left" nowrap>Highlands County Health Facilities Authority,
      Florida, Hospital Revenue Bonds, Adventist&#160;</td>
                <td align="right" nowrap>11/15 at 100.00&#160;</td>
                <td align="right" nowrap>A1 (4)&#160;</td>
                <td align="right" nowrap>209,488&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Health System, Series
      2005D, 5.000%, 11/15/35 (Pre-refunded 11/15/15) &#8211; MBIA Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,500&#160;</td>
                <td align="left" nowrap>Highlands County Health Facilities Authority,
      Florida, Hospital Revenue Bonds, Adventist&#160;</td>
                <td align="right" nowrap>11/13 at 100.00&#160;</td>
                <td align="right" nowrap>N/R (4)&#160;</td>
                <td align="right" nowrap>4,040,925&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Health System/Sunbelt
      Obligated Group, Series 2003D, 5.875%, 11/15/29 (Pre-refunded
    11/15/13)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,500&#160;</td>
                <td align="left" nowrap>Hillsborough County School Board, Florida,
      Certificates of Participation, Series 2003, 5.000%,&#160;</td>
                <td align="right" nowrap>7/13 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>1,509,780&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">7/01/29 &#8211; NPFG
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,270&#160;</td>
                <td align="left" nowrap>Jacksonville, Florida, Local Government Sales Tax
      Revenue Refunding and Improvement Bonds,&#160;</td>
                <td align="right" nowrap>10/12 at 100.00&#160;</td>
                <td align="right" nowrap>AA+&#160;</td>
                <td align="right" nowrap>2,463,676&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2002, 5.375%,
      10/01/18 &#8211; FGIC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,265&#160;</td>
                <td align="left" nowrap>Lakeland, Florida, Utility Tax Revenue Bonds, Series
      2003B, 5.000%, 10/01/20 &#8211; AMBAC Insured&#160;</td>
                <td align="right" nowrap>10/12 at 100.00&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>2,278,907&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,730&#160;</td>
                <td align="left" nowrap>Lee County, Florida, Transportation Facilities
      Revenue Bonds, Series 2004B, 5.000%, 10/01/22 &#8211;&#160;</td>
                <td align="right" nowrap>10/14 at 100.00&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>1,761,590&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>500&#160;</td>
                <td align="left" nowrap>Lee Memorial Health System, Florida, Hospital
      Revenue Bonds, Series 2007A, 5.000%, 4/01/32 &#8211;&#160;</td>
                <td align="right" nowrap>4/17 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>474,910&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap>Marco Island, Florida, Water Utility System Revenue
      Bonds, Series 2003, 5.000%, 10/01/27 &#8211;&#160;</td>
                <td align="right" nowrap>10/13 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>3,043,980&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap>Miami-Dade County, Florida, Water and Sewer System
      Revenue Bonds, Series 1999A, 5.000%,&#160;</td>
                <td align="right" nowrap>4/10 at 101.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>2,020,300&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">10/01/29 &#8211; FGIC
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>500&#160;</td>
                <td align="left" nowrap>Miami-Dade County, Florida, Water and Sewer System
      Revenue Bonds, Series 2008B, 5.250%,&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>553,330&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">10/01/22 &#8211; AGM
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>500&#160;</td>
                <td align="left" nowrap>North Port, Florida, Utility System Revenue Bonds,
      Series 2000, 5.000%, 10/01/25 (Pre-refunded&#160;</td>
                <td align="right" nowrap>10/10 at 101.00&#160;</td>
                <td align="right" nowrap>Aa3 (4)&#160;</td>
                <td align="right" nowrap>521,020&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">10/01/10) &#8211; AGM
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap>Orange County, Florida, Sales Tax Revenue Bonds,
      Series 2002A, 5.125%, 1/01/17 &#8211; FGIC Insured&#160;</td>
                <td align="right" nowrap>1/13 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>2,155,820&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,500&#160;</td>
                <td align="left" nowrap>Orange County, Florida, Sales Tax Revenue Bonds,
      Series 2002B, 5.125%, 1/01/32 &#8211; FGIC Insured&#160;</td>
                <td align="right" nowrap>1/13 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>1,510,245&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,370&#160;</td>
                <td align="left" nowrap>Osceola County School Board, Florida, Certificates
      of Participation, Series 2002A, 5.125%,&#160;</td>
                <td align="right" nowrap>6/12 at 101.00&#160;</td>
                <td align="right" nowrap>A2 (4)&#160;</td>
                <td align="right" nowrap>3,722,435&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">6/01/20 (Pre-refunded
      6/01/12) &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,335&#160;</td>
                <td align="left" nowrap>Palm Bay, Florida, Local Optional Gas Tax Revenue
      Bonds, Series 2004, 5.250%, 10/01/20 &#8211;&#160;</td>
                <td align="right" nowrap>10/14 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>3,596,297&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,095&#160;</td>
                <td align="left" nowrap>Palm Bay, Florida, Utility System Revenue Bonds,
      Series 2004, 5.250%, 10/01/20 &#8211; NPFG Insured&#160;</td>
                <td align="right" nowrap>10/14 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>1,180,793&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,670&#160;</td>
                <td align="left" nowrap>Palm Beach County School Board, Florida,
      Certificates of Participation, Series 2002D, 5.000%,&#160;</td>
                <td align="right" nowrap>8/12 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>2,696,246&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">8/01/28 &#8211; AGM
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,950&#160;</td>
                <td align="left" nowrap>Palm Beach County School Board, Florida,
      Certificates of Participation, Series 2002D, 5.250%,&#160;</td>
                <td align="right" nowrap>8/12 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>2,160,971&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">8/01/20 (Pre-refunded
      8/01/12) &#8211; AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Pinellas County Health Facilities Authority,
      Florida, Revenue Bonds, Baycare Health System,&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Series 2003:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,800&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.750%, 11/15/27
      (Pre-refunded 5/15/13)&#160;</td>
                <td align="right" nowrap>5/13 at 100.00&#160;</td>
                <td align="right" nowrap>Aa3 (4)&#160;</td>
                <td align="right" nowrap>3,220,084&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.500%, 11/15/27
      (Pre-refunded 5/15/13)&#160;</td>
                <td align="right" nowrap>5/13 at 100.00&#160;</td>
                <td align="right" nowrap>Aa3 (4)&#160;</td>
                <td align="right" nowrap>3,425,880&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>Port Saint Lucie, Florida, Special Assessment
      Revenue Bonds, Southwest Annexation District 1B,&#160;</td>
                <td align="right" nowrap>7/17 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>902,900&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2007, 5.000%,
      7/01/33 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,115&#160;</td>
                <td align="left" nowrap>Port St. Lucie, Florida, Sales Tax Revenue Bonds,
      Series 2003, 5.000%, 9/01/23 &#8211; NPFG Insured&#160;</td>
                <td align="right" nowrap>9/13 at 100.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>2,160,853&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,500&#160;</td>
                <td align="left" nowrap>Port St. Lucie, Florida, Stormwater Utility System
      Revenue Refunding Bonds, Series 2002,&#160;</td>
                <td align="right" nowrap>5/12 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>1,528,545&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 5/01/23 &#8211; NPFG
      Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>225&#160;</td>
                <td align="left" nowrap>Port St. Lucie, Florida, Utility System Revenue
      Bonds, Refunding Series 2009, 5.250%,&#160;</td>
                <td align="right" nowrap>9/18 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>232,369&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">9/01/35 &#8211; AGC
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,500&#160;</td>
                <td align="left" nowrap>South Miami Health Facilities Authority, Florida,
      Hospital Revenue Bonds, Baptist Health&#160;</td>
                <td align="right" nowrap>2/13 at 100.00&#160;</td>
                <td align="right" nowrap>Aaa&#160;</td>
                <td align="right" nowrap>1,686,600&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Systems of South Florida,
      Series 2003, 5.200%, 11/15/28 (Pre-refunded 2/01/13)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,730&#160;</td>
                <td align="left" nowrap>St. John&#8217;s County, Florida, Sales Tax Revenue Bonds,
      Series 2004A, 5.000%, 10/01/24 &#8211;&#160;</td>
                <td align="right" nowrap>10/14 at 100.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>1,786,571&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,000&#160;</td>
                <td align="left" nowrap>St. Lucie County School Board, Florida, Certificates
      of Participation, Master Lease Program,&#160;</td>
                <td align="right" nowrap>7/14 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>4,088,920&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2004A, 5.000%,
      7/01/24 &#8211; AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,200&#160;</td>
                <td align="left" nowrap>Tamarac, Florida, Utility System Revenue Bonds,
      Series 2009, 5.000%, 10/01/39&#160;</td>
                <td align="right" nowrap>10/19 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,204,488&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,250&#160;</td>
                <td align="left" nowrap>Volusia County Educational Facilities Authority,
      Florida, Revenue Refunding Bonds,&#160;</td>
                <td align="right" nowrap>10/13 at 100.00&#160;</td>
                <td align="right" nowrap>Baa3&#160;</td>
                <td align="right" nowrap>1,121,338&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Embry-Riddle Aeronautical University, Series 2003, 5.200%,
      10/15/33 &#8211; RAAI Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">71,820&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Florida&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">75,918,621&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Georgia &#8211; 2.0% (1.4% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap>Atlanta, Georgia, Water and Wastewater Revenue
      Bonds, Series 2009B, 5.375%, 11/01/39 &#8211;&#160;</td>
                <td align="right" nowrap>11/19 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>3,081,120&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,410&#160;</td>
                <td align="left" nowrap>DeKalb County, Georgia, Water and Sewer Revenue
      Bonds, Series 2006A, 5.000%, 10/01/35 &#8211;&#160;</td>
                <td align="right" nowrap>10/16 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,470,376&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,825&#160;</td>
                <td align="left" nowrap>Metropolitan Atlanta Rapid Transit Authority,
      Georgia, Sales Tax Revenue Bonds, Second&#160;</td>
                <td align="right" nowrap>1/13 at 100.00&#160;</td>
                <td align="right" nowrap>AA+ (4)&#160;</td>
                <td align="right" nowrap>2,040,587&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Indenture Series 2002, 5.000%, 7/01/32 (Pre-refunded 1/01/13) &#8211;
      MBIA Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">6,235&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Georgia&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">6,592,083&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Illinois &#8211; 2.8% (1.9% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Cook County School District 145, Arbor Park,
      Illinois, General Obligation Bonds, Series 2004:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,635&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.125%, 12/01/20 &#8211; AGM
      Insured&#160;</td>
                <td align="right" nowrap>12/14 at 100.00&#160;</td>
                <td align="right" nowrap>Aa3&#160;</td>
                <td align="right" nowrap>1,732,528&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,465&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.125%, 12/01/23 &#8211; AGM
      Insured&#160;</td>
                <td align="right" nowrap>12/14 at 100.00&#160;</td>
                <td align="right" nowrap>Aa3&#160;</td>
                <td align="right" nowrap>1,535,598&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Cook County School District 145, Arbor Park,
      Illinois, General Obligation Bonds, Series 2004:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,650&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.125%, 12/01/20 &#8211; AGM
      Insured (ETM)&#160;</td>
                <td align="right" nowrap>12/14 at 100.00&#160;</td>
                <td align="right" nowrap>Aa3 (4)&#160;</td>
                <td align="right" nowrap>1,783,733&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,475&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.125%, 12/01/23 &#8211; AGM
      Insured (ETM)&#160;</td>
                <td align="right" nowrap>12/14 at 100.00&#160;</td>
                <td align="right" nowrap>Aa3 (4)&#160;</td>
                <td align="right" nowrap>1,578,530&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,500&#160;</td>
                <td align="left" nowrap>Illinois Health Facilities Authority, Revenue Bonds,
      Lake Forest Hospital, Series 2003,&#160;</td>
                <td align="right" nowrap>7/13 at 100.00&#160;</td>
                <td align="right" nowrap>A&#8211;&#160;</td>
                <td align="right" nowrap>2,497,500&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">5.250%, 7/01/23&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">8,725&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Illinois&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">9,127,889&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Indiana &#8211; 7.3% (4.9% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,500&#160;</td>
                <td align="left" nowrap>Evansville, Indiana, Sewerage Works Revenue
      Refunding Bonds, Series 2003A, 5.000%, 7/01/23 &#8211;&#160;</td>
                <td align="right" nowrap>7/13 at 100.00&#160;</td>
                <td align="right" nowrap>A3&#160;</td>
                <td align="right" nowrap>2,528,875&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,190&#160;</td>
                <td align="left" nowrap>Indiana Bond Bank, Advance Purchase Funding Bonds,
      Common School Fund, Series 2003B, 5.000%,&#160;</td>
                <td align="right" nowrap>8/13 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>2,220,813&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">8/01/19 &#8211; NPFG
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,860&#160;</td>
                <td align="left" nowrap>Indiana Municipal Power Agency, Power Supply Revenue
      Bonds, Series 2007A, 5.000%, 1/01/42 &#8211;&#160;</td>
                <td align="right" nowrap>1/17 at 100.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>1,816,439&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>Indiana University, Student Fee Revenue Bonds,
      Series 2003O, 5.000%, 8/01/22 &#8211; FGIC Insured&#160;</td>
                <td align="right" nowrap>8/13 at 100.00&#160;</td>
                <td align="right" nowrap>Aa1&#160;</td>
                <td align="right" nowrap>1,066,180&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>IPS Multi-School Building Corporation, Indiana,
      First Mortgage Revenue Bonds, Series 2003:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>11,020&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 7/15/19
      (Pre-refunded 7/15/13) &#8211; MBIA Insured&#160;</td>
                <td align="right" nowrap>7/13 at 100.00&#160;</td>
                <td align="right" nowrap>AA (4)&#160;</td>
                <td align="right" nowrap>12,485,219&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">3,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">5.000%, 7/15/20 (Pre-refunded 7/15/13) &#8211; MBIA Insured&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">7/13 at
      100.00&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">AA
    (4)&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">3,398,880&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">21,570&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Indiana&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">23,516,406&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Kansas &#8211; 1.6% (1.1% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Kansas Development Finance Authority, Board of
      Regents, Revenue Bonds, Scientific Research and&#160;</td>
                <td align="right" nowrap>4/13 at 102.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>5,257,300&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Development Facilities Projects, Series 2003C, 5.000%, 10/01/22
      &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Kentucky &#8211; 0.4% (0.2% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>985&#160;</td>
                <td align="left" nowrap>Kentucky State Property and Buildings Commission,
      Revenue Refunding Bonds, Project 77, Series&#160;</td>
                <td align="right" nowrap>8/13 at 100.00&#160;</td>
                <td align="right" nowrap>Aa3 (4)&#160;</td>
                <td align="right" nowrap>1,119,699&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">2003, 5.000%, 8/01/23 (Pre-refunded 8/01/13) &#8211; MBIA
    Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Louisiana &#8211; 1.8% (1.2% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,785&#160;</td>
                <td align="left" nowrap>New Orleans, Louisiana, General Obligation Refunding
      Bonds, Series 2002, 5.300%, 12/01/27 &#8211;&#160;</td>
                <td align="right" nowrap>12/12 at 100.00&#160;</td>
                <td align="right" nowrap>Baa3&#160;</td>
                <td align="right" nowrap>5,804,206&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">FGIC Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Massachusetts &#8211; 0.4% (0.2% of
      Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,125&#160;</td>
                <td align="left" nowrap>Massachusetts Development Finance Authority, Revenue
      Bonds, Middlesex School, Series 2003,&#160;</td>
                <td align="right" nowrap>9/13 at 100.00&#160;</td>
                <td align="right" nowrap>A1&#160;</td>
                <td align="right" nowrap>1,161,945&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">5.125%, 9/01/23&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Michigan &#8211; 9.8% (6.6% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,130&#160;</td>
                <td align="left" nowrap>Detroit, Michigan, Senior Lien Water Supply System
      Revenue Bonds, Series 2003A, 5.000%,&#160;</td>
                <td align="right" nowrap>7/13 at 100.00&#160;</td>
                <td align="right" nowrap>A+ (4)&#160;</td>
                <td align="right" nowrap>6,914,211&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">7/01/23 (Pre-refunded
      7/01/13) &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,465&#160;</td>
                <td align="left" nowrap>Detroit, Michigan, Senior Lien Water Supply System
      Revenue Refunding Bonds, Series 2003C,&#160;</td>
                <td align="right" nowrap>7/13 at 100.00&#160;</td>
                <td align="right" nowrap>A+&#160;</td>
                <td align="right" nowrap>4,505,319&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 7/01/22 &#8211; NPFG
      Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>Michigan State Hospital Finance Authority, Revenue
      Bonds, Trinity Health Care Group, Series&#160;</td>
                <td align="right" nowrap>12/16 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>980,400&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2006A, 5.000%, 12/01/31
      (UB)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,800&#160;</td>
                <td align="left" nowrap>Michigan Strategic Fund, Limited Obligation Resource
      Recovery Revenue Refunding Bonds, Detroit&#160;</td>
                <td align="right" nowrap>12/12 at 100.00&#160;</td>
                <td align="right" nowrap>Baa1&#160;</td>
                <td align="right" nowrap>10,799,352&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Edison Company, Series
      2002D, 5.250%, 12/15/32 &#8211; SYNCORA GTY Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,250&#160;</td>
                <td align="left" nowrap>Romulus Community Schools, Wayne County, Michigan,
      General Obligation Refunding Bonds, Series&#160;</td>
                <td align="right" nowrap>5/11 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>2,307,893&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2001, 5.250%,
    5/01/25&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>6,500&#160;</td>
                <td align="left" nowrap>Wayne County, Michigan, Limited Tax General
      Obligation Airport Hotel Revenue Bonds, Detroit&#160;</td>
                <td align="right" nowrap>12/11 at 101.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>5,956,145&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Metropolitan Wayne County Airport, Series 2001A, 5.000%,
      12/01/30 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">31,145&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Michigan&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">31,463,320&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Missouri &#8211; 1.0% (0.7% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>240&#160;</td>
                <td align="left" nowrap>Clay County Public School District 53, Liberty,
      Missouri, General Obligation Bonds, Series&#160;</td>
                <td align="right" nowrap>3/14 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>259,954&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2004, 5.250%, 3/01/24 &#8211; AGM
      Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>215&#160;</td>
                <td align="left" nowrap>Clay County Public School District 53, Liberty,
      Missouri, General Obligation Bonds, Series&#160;</td>
                <td align="right" nowrap>3/14 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>233,737&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2004, 5.250%, 3/01/23 &#8211; AGM
      Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Clay County Public School District 53, Liberty,
      Missouri, General Obligation Bonds,&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Series 2004:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,110&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.250%, 3/01/23
      (Pre-refunded 3/01/14) &#8211; AGM Insured&#160;</td>
                <td align="right" nowrap>3/14 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,285,091&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">1,260&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">5.250%, 3/01/24 (Pre-refunded 3/01/14) &#8211; AGM Insured&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">3/14 at
      100.00&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">AAA&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">1,458,752&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">2,825&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Missouri&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">3,237,534&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Nebraska &#8211; 1.6% (1.1% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Lincoln, Nebraska, Sanitary Sewerage System Revenue
      Refunding Bonds, Series 2003, 5.000%,&#160;</td>
                <td align="right" nowrap>6/13 at 100.00&#160;</td>
                <td align="right" nowrap>AA+&#160;</td>
                <td align="right" nowrap>5,187,850&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">6/15/28 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">New
      Mexico &#8211; 0.7% (0.5% of Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">1,975&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">New Mexico
      State University, Revenue Bonds, Series 2004, 5.000%, 4/01/19 &#8211; AMBAC
      Insured&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">4/14 at
      100.00&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">AA&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">2,137,128&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">New
      York &#8211; 10.1% (6.9% of Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,020&#160;</td>
                <td align="left" nowrap>Hudson Yards Infrastructure Corporation, New York,
      Revenue Bonds, Series 2006A, 4.500%,&#160;</td>
                <td align="right" nowrap>2/17 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>1,841,533&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2/15/47 &#8211; NPFG
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>25,000&#160;</td>
                <td align="left" nowrap>Metropolitan Transportation Authority, New York,
      Transportation Revenue Refunding Bonds,&#160;</td>
                <td align="right" nowrap>11/12 at 100.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>25,238,250&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2002F, 5.000%,
      11/15/31 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,850&#160;</td>
                <td align="left" nowrap>New York State Urban Development Corporation,
      Service Contract Revenue Bonds, Series 2005B,&#160;</td>
                <td align="right" nowrap>3/15 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,952,287&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 3/15/25 &#8211; AGM
      Insured (UB)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,335&#160;</td>
                <td align="left" nowrap>New York State Urban Development Corporation, State
      Personal Income Tax Revenue Bonds, Tender&#160;</td>
                <td align="right" nowrap>3/17 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>3,618,242&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Option Bond Trust 09-6W, 13.244%, 3/15/37 (IF)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">32,205&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total New
      York&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">32,650,312&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">North Carolina &#8211; 2.0% (1.4% of
      Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>8,700&#160;</td>
                <td align="left" nowrap>North Carolina Medical Care Commission, Revenue
      Bonds, Maria Parham Medical Center, Series&#160;</td>
                <td align="right" nowrap>10/13 at 100.00&#160;</td>
                <td align="right" nowrap>BB&#160;</td>
                <td align="right" nowrap>6,595,382&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">2003, 5.375%, 10/01/33 &#8211; RAAI Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Ohio &#8211; 0.8% (0.5% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Buckeye Tobacco Settlement Financing Authority,
      Ohio, Tobacco Settlement Asset-Backed Revenue&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Bonds, Senior Lien, Series 2007A-2:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>65&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.125%, 6/01/24&#160;</td>
                <td align="right" nowrap>6/17 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>60,403&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>710&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.875%, 6/01/30&#160;</td>
                <td align="right" nowrap>6/17 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>612,964&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>685&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.750%, 6/01/34&#160;</td>
                <td align="right" nowrap>6/17 at 100.00&#160;</td>
                <td align="right" nowrap>BBB&#160;</td>
                <td align="right" nowrap>569,598&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">1,570&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">5.875%, 6/01/47&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">6/17 at
      100.00&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">BBB&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">1,204,598&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">3,030&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
    Ohio&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">2,447,563&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Oklahoma &#8211; 0.3% (0.2% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>Oklahoma Capitol Improvement Authority, State
      Facilities Revenue Bonds, Series 2005F, 5.000%,&#160;</td>
                <td align="right" nowrap>7/15 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>1,034,480&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">7/01/24 &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Oregon &#8211; 2.5% (1.7% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">8,350&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Oregon
      Health Sciences University, Revenue Bonds, Series 2002A, 5.000%, 7/01/32 &#8211;
      NPFG Insured&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">1/13 at
      100.00&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">A&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">8,033,868&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Pennsylvania &#8211; 7.3% (5.0% of
      Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap>Lehigh County General Purpose Authority,
      Pennsylvania, Hospital Revenue Bonds, St. Luke&#8217;s&#160;</td>
                <td align="right" nowrap>8/13 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>3,448,800&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Hospital of Bethlehem,
      Series 2003, 5.375%, 8/15/33 (Pre-refunded 8/15/13)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,500&#160;</td>
                <td align="left" nowrap>Pennsylvania Turnpike Commission, Turnpike
      Subordinate Revenue Bonds, Series 2009C, 0.000%,&#160;</td>
                <td align="right" nowrap>6/26 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>2,549,260&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">6/01/33 &#8211; AGM
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap>Philadelphia Gas Works, Pennsylvania, Revenue Bonds,
      General Ordinance, Fourth Series 1998,&#160;</td>
                <td align="right" nowrap>8/13 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>2,009,560&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 8/01/32 &#8211; AGM
      Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>925&#160;</td>
                <td align="left" nowrap>Philadelphia, Pennsylvania, Water and Wastewater
      Revenue Bonds, Series 1997A, 5.125%,&#160;</td>
                <td align="right" nowrap>4/10 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>953,452&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">8/01/27 &#8211; AMBAC Insured
      (ETM)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>13,000&#160;</td>
                <td align="left" nowrap>State Public School Building Authority,
      Pennsylvania, Lease Revenue Bonds, Philadelphia School&#160;</td>
                <td align="right" nowrap>6/13 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>14,742,260&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">District, Series 2003, 5.000%, 6/01/33 (Pre-refunded 6/01/13) &#8211;
      AGM Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">22,425&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Pennsylvania&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">23,703,332&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Puerto Rico &#8211; 0.8% (0.5% of
      Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,000&#160;</td>
                <td align="left" nowrap>Puerto Rico Electric Power Authority, Power Revenue
      Bonds, Series 2002II, 5.125%, 7/01/26&#160;</td>
                <td align="right" nowrap>7/12 at 101.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,116,570&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">(Pre-refunded 7/01/12) &#8211;
      AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>10,000&#160;</td>
                <td align="left" nowrap>Puerto Rico Sales Tax Financing Corporation, Sales
      Tax Revenue Bonds, Series 2007A, 0.000%,&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>AA&#8211;&#160;</td>
                <td align="right" nowrap>1,319,900&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">8/01/43 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">11,000&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Puerto Rico&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">2,436,470&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">South Carolina &#8211; 5.6% (3.8% of
      Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>Florence County, South Carolina, Hospital Revenue
      Bonds, McLeod Regional Medical Center,&#160;</td>
                <td align="right" nowrap>11/14 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>5,178,050&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2004A, 5.250%,
      11/01/23 &#8211; AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Greenville County School District, South Carolina,
      Installment Purchase Revenue Bonds,&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Series 2003:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 12/01/22
    (UB)&#160;</td>
                <td align="right" nowrap>12/13 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>3,115,470&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,785&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.000%, 12/01/23
    (UB)&#160;</td>
                <td align="right" nowrap>12/13 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>1,848,546&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>8,000&#160;</td>
                <td align="left" nowrap>South Carolina Transportation Infrastructure Bank,
      Revenue Bonds, Series 2002A, 5.000%,&#160;</td>
                <td align="right" nowrap>10/12 at 100.00&#160;</td>
                <td align="right" nowrap>A1&#160;</td>
                <td align="right" nowrap>8,013,280&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">10/01/33 &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">17,785&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total South
      Carolina&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">18,155,346&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Texas &#8211; 10.1% (6.8% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>7,975&#160;</td>
                <td align="left" nowrap>Fort Bend Independent School District, Fort Bend
      County, Texas, General Obligation Bonds,&#160;</td>
                <td align="right" nowrap>8/10 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>8,130,194&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2000, 5.000%,
      8/15/25&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Grand Prairie Independent School District, Dallas
      County, Texas, General Obligation Bonds,&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Series 2003:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,660&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.375%, 2/15/26
      (Pre-refunded 2/15/13) &#8211; AGM Insured&#160;</td>
                <td align="right" nowrap>2/13 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>1,877,228&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>12,500&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5.125%, 2/15/31
      (Pre-refunded 2/15/13) &#8211; AGM Insured&#160;</td>
                <td align="right" nowrap>2/13 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>14,042,250&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,000&#160;</td>
                <td align="left" nowrap>Houston, Texas, First Lien Combined Utility System
      Revenue Bonds, Series 2004A, 5.250%,&#160;</td>
                <td align="right" nowrap>5/14 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>2,098,920&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">5/15/25 &#8211; NPFG
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,160&#160;</td>
                <td align="left" nowrap>Houston, Texas, General Obligation Refunding Bonds,
      Series 2002, 5.250%, 3/01/20 &#8211; NPFG Insured&#160;</td>
                <td align="right" nowrap>3/12 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>1,240,307&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,355&#160;</td>
                <td align="left" nowrap>Houston, Texas, General Obligation Refunding Bonds,
      Series 2002, 5.250%, 3/01/20 (Pre-refunded&#160;</td>
                <td align="right" nowrap>3/12 at 100.00&#160;</td>
                <td align="right" nowrap>AA (4)&#160;</td>
                <td align="right" nowrap>4,754,223&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">3/01/12) &#8211; NPFG
    Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>465&#160;</td>
                <td align="left" nowrap>Katy Independent School District, Harris, Fort Bend
      and Waller Counties, Texas, General&#160;</td>
                <td align="right" nowrap>2/12 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>496,982&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Obligation Bonds, Series 2002A, 5.125%, 2/15/18&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">30,115&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
    Texas&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">32,640,104&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Virginia &#8211; 0.5% (0.3% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,500&#160;</td>
                <td align="left" nowrap>Hampton, Virginia, Revenue Bonds, Convention Center
      Project, Series 2002, 5.125%, 1/15/28 &#8211;&#160;</td>
                <td align="right" nowrap>1/13 at 100.00&#160;</td>
                <td align="right" nowrap>A1&#160;</td>
                <td align="right" nowrap>1,527,764&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">AMBAC Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Washington &#8211; 9.4% (6.4% of
      Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,945&#160;</td>
                <td align="left" nowrap>Broadway Office Properties, King County, Washington,
      Lease Revenue Bonds, Washington Project,&#160;</td>
                <td align="right" nowrap>12/12 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>5,009,928&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2002, 5.000%,
      12/01/31 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,250&#160;</td>
                <td align="left" nowrap>Chelan County Public Utility District 1, Washington,
      Hydro Consolidated System Revenue Bonds,&#160;</td>
                <td align="right" nowrap>7/12 at 100.00&#160;</td>
                <td align="right" nowrap>AA&#160;</td>
                <td align="right" nowrap>5,312,318&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2002C, 5.125%,
      7/01/33 &#8211; AMBAC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>5,000&#160;</td>
                <td align="left" nowrap>King County, Washington, Sewer Revenue Bonds, Series
      2006-2, 13.531%, 1/01/31 &#8211;&#160;</td>
                <td align="right" nowrap>1/17 at 100.00&#160;</td>
                <td align="right" nowrap>AAA&#160;</td>
                <td align="right" nowrap>5,645,200&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">AGM Insured (IF)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>2,135&#160;</td>
                <td align="left" nowrap>Kitsap County Consolidated Housing Authority,
      Washington, Revenue Bonds, Bremerton Government&#160;</td>
                <td align="right" nowrap>7/13 at 100.00&#160;</td>
                <td align="right" nowrap>A1&#160;</td>
                <td align="right" nowrap>2,186,454&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Center, Series 2003,
      5.000%, 7/01/23 &#8211; NPFG Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,935&#160;</td>
                <td align="left" nowrap>Pierce County School District 343, Dieringer,
      Washington, General Obligation Refunding Bonds,&#160;</td>
                <td align="right" nowrap>6/13 at 100.00&#160;</td>
                <td align="right" nowrap>Aa1&#160;</td>
                <td align="right" nowrap>2,153,133&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 2003, 5.250%,
      12/01/17 &#8211; FGIC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">9,670&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Washington
      State, General Obligation Bonds, Series 2003D, 5.000%, 12/01/21 &#8211; NPFG
      Insured&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">6/13 at
      100.00&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">AA+&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">10,137,544&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">28,935&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Washington&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">30,444,577&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">West Virginia &#8211; 1.0% (0.7% of
      Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap>West Virginia State Building Commission, Lease
      Revenue Refunding Bonds, Regional Jail and&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>N/R&#160;</td>
                <td align="right" nowrap>3,301,380&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Corrections Facility, Series 1998A, 5.375%, 7/01/21 &#8211; AMBAC
      Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Wisconsin &#8211; 5.5% (3.7% of Total
      Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>1,190&#160;</td>
                <td align="left" nowrap>Sun Prairie Area School District, Dane County,
      Wisconsin, General Obligation Bonds, Series&#160;</td>
                <td align="right" nowrap>3/14 at 100.00&#160;</td>
                <td align="right" nowrap>Aa3&#160;</td>
                <td align="right" nowrap>1,328,540&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">2004C, 5.250%, 3/01/24 &#8211;
      AGM Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,605&#160;</td>
                <td align="left" nowrap>Wisconsin Health and Educational Facilities
      Authority, Revenue Bonds, Franciscan Sisters of&#160;</td>
                <td align="right" nowrap>9/13 at 100.00&#160;</td>
                <td align="right" nowrap>BBB+ (4)&#160;</td>
                <td align="right" nowrap>5,348,016&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Christian Charity
      Healthcare Ministry, Series 2003A, 5.875%, 9/01/33 (Pre-refunded
    9/01/13)&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,000&#160;</td>
                <td align="left" nowrap>Wisconsin Health and Educational Facilities
      Authority, Revenue Bonds, Meriter Hospital Inc.,&#160;</td>
                <td align="right" nowrap>No Opt. Call&#160;</td>
                <td align="right" nowrap>A1&#160;</td>
                <td align="right" nowrap>3,269,580&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Series 1992A, 6.000%,
      12/01/22 &#8211; FGIC Insured&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>3,600&#160;</td>
                <td align="left" nowrap>Wisconsin Health and Educational Facilities
      Authority, Revenue Bonds, Wheaton Franciscan&#160;</td>
                <td align="right" nowrap>8/13 at 100.00&#160;</td>
                <td align="right" nowrap>BBB+&#160;</td>
                <td align="right" nowrap>3,135,960&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Services Inc., Series
      2003A, 5.125%, 8/15/33&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>4,750&#160;</td>
                <td align="left" nowrap>Wisconsin Health and Educational Facilities
      Authority, Revenue Refunding Bonds, Wausau&#160;</td>
                <td align="right" nowrap>2/10 at 101.00&#160;</td>
                <td align="right" nowrap>A&#160;</td>
                <td align="right" nowrap>4,761,115&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Hospital Inc., Series 1998A, 5.125%, 8/15/20 &#8211; AMBAC
    Insured&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">17,145&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Wisconsin&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">17,843,211&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$&#160;&#160;&#160;&#160;481,685&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Long-Term Investments (cost $459,721,803) &#8211; 146.5%&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">473,157,956&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">Short-Term Investments &#8211; 1.2%
      (0.8% of Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap><font style="DISPLAY: inline; FONT-WEIGHT: bold">California &#8211; 1.2% (0.8% of
      Total Investments)</font></td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3,790&#160;</td>
                <td align="left" nowrap>Westminster Redevelopment Agency, Orange County,
      California, Westminster Commercial&#160;</td>
                <td align="right" nowrap>11/19 at 100.00&#160;</td>
                <td align="right" nowrap>A-1&#160;</td>
                <td align="right" nowrap>3,790,000&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px">Redevelopment Project 1,
      Tax Allocation Bonds, Variable Rate Demand Obligations,&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 2px solid">&#160;</td>
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Tender Option Bond Trust 3009, 0.200%, 11/01/45 &#8211; AGC Insured
      (5)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Short-Term Investments (cost $3,790,000)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">3,790,000&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Total
      Investments (cost $463,511,803) &#8211; 147.7%&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">476,947,956&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Floating
      Rate Obligations &#8211; (4.0)%&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">(13,040,000)</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Other
      Assets Less Liabilities &#8211; 28.1%&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">90,673,804&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">Auction
      Rate Preferred Shares, at Liquidation Value &#8211; (71.8)% (6)&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">(231,750,000)</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 2px solid">Net Assets
      Applicable to Common Shares &#8211; 100%&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 2px solid">&#160;</td>
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 2px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$&#160;
      322,831,760&#160;</td>
              </tr></table>
        </div><br></div>
      <hr align="center" noshade size="2" width="100%">
      <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">&#160;</div>
      <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">&#160;</div>
      <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">&#160;</div>
      <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Fair Value Measurements</font></div>
      <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">In determining the value of the Fund's
investments, various inputs are used. These inputs are summarized in the three
broad levels listed below: </div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">&#160;&#160;Level 1 &#8211; Quoted prices in active
markets for identical securities.</div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">&#160;&#160;Level 2 &#8211; Other significant observable
inputs (including quoted prices for similar securities, interest rates,
prepayment speeds, credit risk, etc.).</div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">&#160;&#160;Level 3 &#8211; Significant unobservable
inputs (including management's assumptions in determining the fair value of
investments).</div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">The inputs or methodology used for valuing
securities are not an indication of the risk associated with investing in those
securities. The following is a summary of the Fund's fair value measurements as
of January 31, 2010:</div>
        <div>&#160;</div>
        <div align="left">
          <table border="0" cellspacing="0" style="FONT-SIZE: 10pt; WIDTH: 9in; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'Arial Narrow'">
<tr>
                <td width="36%">
                </td>
                <td width="28%">
                </td>
                <td width="14%">
                </td>
                <td width="11%">
                </td>
                <td width="10%">
                </td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Level 1</font></td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Level 2</font></td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Level 3</font></td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Total</font></td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>Investments:&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="TEXT-INDENT: 5px">Municipal Bonds&#160;</td>
                <td align="right" nowrap>$ &#8212;&#160;</td>
                <td align="right" nowrap>$473,157,956&#160;</td>
                <td align="right" nowrap>$ &#8212;&#160;</td>
                <td align="right" nowrap>$473,157,956&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid">Short-Term Investments&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#8212;&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">3,790,000&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#8212;&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">3,790,000&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 2px solid">Total&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$
    &#8212;&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$476,947,956&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$
    &#8212;&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$476,947,956&#160;</td>
              </tr></table>
        </div><br>
        <div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Income Tax Information</font></div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">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.</div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">At January 31, 2010, the cost of investments was
$452,711,404.</div>
        <div>&#160;</div>
        <div style="TEXT-ALIGN: left">Gross unrealized appreciation and gross unrealized
depreciation of investments at January 31, 2010, were as follows:</div>
        <div>&#160;</div>
        <div align="left">
          <table border="0" cellspacing="0" style="FONT-SIZE: 10pt; WIDTH: 9in; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'Arial Narrow'">
<tr>
                <td width="62%">
                </td>
                <td width="37%">
                </td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-TOP: #000000 1px solid">Gross
      unrealized:&#160;</td>
                <td align="left" nowrap style="BORDER-TOP: #000000 1px solid">&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160; Appreciation&#160;</td>
                <td align="right" nowrap>$ 22,606,462&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 1px solid">&#160;&#160;Depreciation&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 1px solid">(11,407,567)&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap style="BORDER-BOTTOM: #000000 2px solid">Net
      unrealized appreciation (depreciation) of investments&#160;</td>
                <td align="right" nowrap style="BORDER-BOTTOM: #000000 2px solid">$
      11,198,895&#160;</td>
              </tr></table>
        </div><br>
        <div align="left">
          <table border="0" cellspacing="0" style="FONT-SIZE: 10pt; WIDTH: 9in; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'Arial Narrow'">
<tr>
                <td width="6%">
                </td>
                <td width="93%">
                </td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>At least 80% of the Fund&#8217;s net assets are invested
      in municipal securities that guarantee the timely&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>payment of principal and interest.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(1)&#160;</td>
                <td align="left" nowrap>All percentages shown in the Portfolio of
      Investments are based on net assets applicable to Common&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>shares unless otherwise noted.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(2)&#160;</td>
                <td align="left" nowrap>Optional Call Provisions: Dates (month and year) and
      prices of the earliest optional call or redemption.&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>There may be other call provisions at varying prices
      at later dates. Certain mortgage-backed securities&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>may be subject to periodic principal
    paydowns.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(3)&#160;</td>
                <td align="left" nowrap>Ratings: Using the higher of Standard &amp; Poor's
      Group ("Standard &amp; Poor's") or Moody's Investor Service,&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>Inc. ("Moody's") rating. Ratings below BBB by
      Standard &amp; Poor's or Baa by Moody's are considered to be&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>below investment grade.&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>The Portfolio of Investments may reflect the ratings
      on certain bonds whose insurer has experienced&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>downgrades as of the end of the reporting period.
      Subsequent to the reporting period, and during the&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>period this Portfolio of Investments was prepared,
      there may have been reductions to the ratings of certain&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>bonds resulting from changes to the ratings of the
      underlying insurers both during the period and after&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>period end. Such reductions would likely reduce the
      effective rating of many of the bonds insured by that&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>insurer or insurers presented at period
  end.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(4)&#160;</td>
                <td align="left" nowrap>Backed by an escrow or trust containing sufficient
      U.S. Government or U.S. Government agency securities&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>which ensure the timely payment of principal and
      interest. Such investments are normally considered to&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>be equivalent to AAA rated securities.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(5)&#160;</td>
                <td align="left" nowrap>Investment has a maturity of more than one year, but
      has variable rate and demand features which&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>qualify it as a short-term investment. The rate
      disclosed is that in effect at the end of the reporting&#160;</td>
              </tr><tr valign="bottom">
                <td align="left" nowrap>&#160;</td>
                <td align="left" nowrap>period. This rate changes periodically based on
      market conditions or a specified market index.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(6)&#160;</td>
                <td align="left" nowrap>Auction Rate Preferred Shares, at Liquidation Value
      as a percentage of Total Investments is 48.6%.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>N/R&#160;</td>
                <td align="left" nowrap>Not rated.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(ETM)&#160;</td>
                <td align="left" nowrap>Escrowed to maturity.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(IF)&#160;</td>
                <td align="left" nowrap>Inverse floating rate investment.&#160;</td>
              </tr><tr valign="bottom">
                <td align="right" nowrap>(UB)&#160;</td>
                <td align="left" nowrap>Underlying bond of an inverse floating rate trust
      reflected as a financing
transaction.&#160;</td>
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2. Controls and Procedures.</font></div>
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<tr>
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      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)).</font></div>
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<tr>
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              <td align="left" valign="top" width="82%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">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.</font></div>
              </td>
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3. Exhibits.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
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        </div>
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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.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
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Tax-Free Advantage Municipal Fund&#160;</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By
(Signature and Title) <font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;/s/&#160;Kevin
J.
McCarthy&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Kevin
J. McCarthy</font></div>
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President and Secretary</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;April
1, 2010&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By
(Signature and Title) <font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160; &#160;/s/
Gifford R.
Zimmerman&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;&#160;</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Gifford
R. Zimmerman</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Chief
Administrative Officer (principal executive officer)&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;April
1, 2010&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
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(Signature and Title) <font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160; /s/
Stephen D.
Foy&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Stephen
D. Foy</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Vice
President and Controller (principal financial officer)&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;April
1,&#160;2010&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
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<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>certification2.htm
<DESCRIPTION>CERTIFICATIONS
<TEXT>
<html>
<head>
    <title>Unassociated Document</title>
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<div>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">CERTIFICATIONS</font></font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">I, Gifford R. Zimmerman, certify that:</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr valign="top">
<td style="WIDTH: 27pt">
<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font></div>
</td>
<td>
<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">I have reviewed this report on Form N-Q of Nuveen Insured Tax-Free Advantage Municipal Fund;</font></div>
</td>
</tr></table>
</div>

<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr valign="top">
<td style="WIDTH: 27pt">
<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.</font></div>
</td>
<td>
<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</font></div>
</td>
</tr></table>
</div>

<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr valign="top">
<td style="WIDTH: 27pt">
<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.</font></div>
</td>
<td>
<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;</font></div>
</td>
</tr></table>
</div>

<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr valign="top">
<td style="WIDTH: 27pt">
<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.</font></div>
</td>
<td>
<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</font></div>
</td>
</tr></table>
</div>

<div>
<table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr valign="top">
<td align="right" style="WIDTH: 45pt">
<div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a.&#160;&#160;</font></div>
</td>
<td>
<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</font></div>
</td>
</tr></table>
</div>

<div>
<table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr valign="top">
<td align="right" style="WIDTH: 45pt">
<div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b.&#160;&#160;</font></div>
</td>
<td>
<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</font></div>
</td>
</tr></table>
</div>

<div>
<table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr valign="top">
<td align="right" style="WIDTH: 45pt">
<div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">c.&#160;&#160;</font></div>
</td>
<td>
<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and</font></div>
</td>
</tr></table>
</div>

<div>
<table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
<tr valign="top">
<td align="right" style="WIDTH: 45pt">
<div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d.&#160;&#160;</font></div>
</td>
<td>
<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</font></div>
</td>
</tr></table>
</div>

<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'">
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;April 1, 2010&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">I, Stephen D. Foy, certify that:</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">I have reviewed this report on Form N-Q of Nuveen Insured Tax-Free Advantage Municipal Fund;</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;April 1, 2010&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>

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